Share Name Share Symbol Market Type Share ISIN Share Description
Egdon Resources Plc LSE:EDR London Ordinary Share GB00B28YML29 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.08 2.84% 2.90 2.80 3.00 2.90 2.90 2.90 164,776 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 1.1 -1.7 -0.5 - 15

Egdon Resources Share Discussion Threads

Showing 4301 to 4324 of 5225 messages
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Maybe it should read DB SHOULD only say what he is told by EDR.

Im with likeawalrus, I priced in nearer $10 so quite a bit higher.

curry dont forget db said that excluding upfront costs break-even is closer to $10 so that should mean an extra $7 per barrel, so maybe $6750 per day?
"DB can only say what he's told by EDR" are you sure about that??? db made his "oct def. oct" statement on 4th Aug at the same time as edr was saying Q4, anyway it's not important as long as wressle delivers soon, it's been a very long and sometimes painful wait.....
How much is it worth, GWB2?

from rns
"Economic modelling has demonstrated that Wressle is economically robust even in the current low oil price environment with an estimated project break-even oil price of $17.62 per barrel. Initial production is expected to be 500 barrels of oil per day ("bopd") (150 bopd net to Egdon). The Wressle Field has been independently audited (2016 Competent Persons Report ("CPR" ERCE) with gross 2P Reserves of 0.62 million barrels of oil ("mmbo") and 2C Resources of 1.53 mmbo. "

current oil price $56, so for edr 500 x 30% x (56-18) = $5700/ day, $2 million/ year

What cash now value is that worth ? $2m/year, constrained, with other zones to look at, and potential other wells?

DB can only say what he's told by EDR. They have zero credibility. Up until recently they had run out of cash. However, there will be some consolidation around Wressel and Bisca in my opinion so someone will take the cash and run. I backing all 3 now.
DB's "october, definitely october" came and went, edr's Q4 came and went, it wasnt until jan 6th that edr indicated end of Jan, I really hope that if the deadline slips (again!) edr immediately issues a new deliver date and an explanation, their credibility is in the spotlight imho, (as is db's), hopefully a non-issue, 3rd time lucky???
Great post Curry.

So much so I have just bought some more.

Hi Laz, nice to see some 'new' posters on here. Unfortunately starting at day one at 30p could give you the impression that this Company has been a complete and utter waste of time and money.. correct

Like its partner in the Wressle project, Europa oil and gas, its been one very long history of failure, blue sky dreams and placings at ever decreasing prices. Many sets of directors have had well paid jobs throughout though, as they come and go!

Whats the point of investing now then, I hear you ask? Well, it seems that the Wressle project is about to come on stream THIS WEEK! This is after years of operational issues, planning issues, funding issues, historical partner issues, and poor oil prices at times.

The well has flowed, its not a test this time, but actual production of expected 500 bopd, split 30% EDR, 30% EOG, 40% UJO.

That 500bopd is a constraint by the planning due to short term, the oil having to be trucked away. That glass ceiling could be moved by new operational methods, and an updated planning application. One possible way forward is a pipeline to nearby facility.

Here, the shareprice has been hit as it was clear last Autumn cash was thin (company RNS and recently accounts). People expected a discounted placing.

However, good old UJO stumped up a 1 mil loan, to get the job done as they are a partner. Also edr biggest shareholder stumps up another mil loan. So funding is now sorted.

Various brokers have put ridiculous target prices on edr, but even if they are a half or quarter true, edr should motor from here.

What else have they got? Biscathorpe is the next 'blue sky' project, which sounds like getting going shortly with the planning appn.

all, IMHO, after 14 years involved here (longer than a lot of the directors)

Curry, first time ever looking in on Egdon, and of course the BB opens at post #1...
re-posted for nostalgia ;-)

They don't quite seem to have done 'what it says/said on the tin'

22.5p target if they achieved that would at least start to get them closer!

CURRYPASTY21 Dec '04 - 08:30 - 1 of 4228
0 0 0
21 December 2004

First Day of Dealings on AIM

Egdon Resources Plc ("Egdon" or "the Company"), the independent UK focused oil
and gas exploration company, is pleased to announce that trading of its shares
commences on AIM today.

The Company has raised #4.5 million (gross of expenses) for the Company and
#500,000 for existing shareholders.

Seymour Pierce Limited ("Seymour Pierce") is the Nominated Adviser and Broker to

Egdon has interests in nineteen exploration licences containing a significant
number of identified oil and gas prospects and is primarily focused on the
hydrocarbon-producing basins of the on-shore UK.

The Company has found hydrocarbons in two of the three wells it has participated
in to date:

- Avington-2 in 2003

- Waddock Cross-2 in 2004

Both of these oil discoveries are currently under appraisal with production from
Avington and Waddock Cross expected to commence during 2005.

The Company intends to become a significant and profitable oil and gas producer
through an active and focussed exploration and appraisal drilling programme,
asset and/or company acquisitions, and pro-active management of the Company's
oil and gas assets. In particular, the Company will look to grow largely through
exploration success, continue to focus on the on-shore UK and will look to
identify and exploit new technologies and opportunities to enhance asset value.

Placing Statistics

Placing Price 30p

curry I agree it seems to lag UJO/EOG on the wressle news which should be very soon couldnt resist a top up of 500k it at leasts brings my average down to a more respectable level.
I'd like to know how they justify a t.p of 22.5p.. Maybe it's a typo and they've put one to many 2's, and should read 2.5p?

Just out of interest as I don't hold any here!


latest VSA report of 11 / jan

"We reiterate our Buy recommendation and 22.5p/sh. target price."

Looking at the three partners in Wressle, EDR seems to be lagging Europa a bit
no surprises its all been passes

The Company will now make a drawdown request to the Investors (Petrichor Partners and Jalapeno) for the maximum amount of approximately GBP1.05 million under the Subscription Agreement and the Investors shall have up to two business days in which to pay the funds due under the subscription request, expected to be 26 January 2021.

good news in EOG. finally my holding in both EDR and EOG looking brighter.
still way below radar

any link in with EDR as well ?

California Joe
#eog #ujo #rbd Always wondered at the reason for Stephen Williams joining the board of Europa. The tie up between UJO, Rathlin, RBD etc. Makes you wonder if someone's going to take someone's share of something or take someone out to get it 😉

Graham Bull, Non-Executive Director, 91 Mr Bull is a geologist with 48 years of international oil and gas industry exploration experience. Following graduation from the University of Leicester in 1968 with a BSc Hons Geology he worked in Canada and held positions with Chevron, Dome Petroleum, Siebens Oil and Gas and Poco Petroleum and also provided exploration expertise to a Canadian drilling fund. He returned to the UK in 1982 taking the position as Chief Geologist to Sovereign Oil and Gas plc. In addition, Mr Bull has operated as a geological adviser for EnCore Oil plc (formerly OilQuest Resources plc), Premier Oil plc, Cirque Energy and DSM Energy. He is currently an exploration geological consultant working on Northwest Europe offshore and onshore United Kingdom and other international areas. Mr Bull is a member of the Petroleum Exploration Society of Great Britain, the American Association of Petroleum Geologists and a Fellow of the Geological Society of London.

seems to know his stuff

June 2019 video from G.Bull on Biscathorpe

PEDL253 is located within the proven hydrocarbon fairway of the Humber Basin, on-trend with the Keddington oilfield (Union Jack 55%) which produces oil from a Carboniferous Westphalian aged reservoir

-- Union Jack will acquire a 15% interest in PEDL253, containing the Biscathorpe project, increasing its interest to 45%

-- Oil bearing Dinantian Carbonate reservoir of 57 metres has been confirmed by independent petrophysical analysis and oil samples from cuttings

-- Dinantian oil play has gross Mean STOIIP of 24.3 million barrels of oil (mmbo) with an upside of case of 36 mmbo
-- Evidence for a thickened Westphalian sandstone interval is apparent

-- Gross Mean Prospective Resources associated with the Westphalian target total 3.95 mmbo with an upside case of 6.69 mmbo

-- Economic modelling of the Westphalian target yields break-even full cycle economics estimated at US$18.07 per barrel and a gross NPV(10) valuation of GBP55.6 million

-- Planning application to be submitted during February 2021 for side-track drilling, testing and long-term production

Egdon Resources U.K. Limited (Operator) 35.8%
Union Jack Oil plc 45.0%
Montrose Industries Limited 19.2%

surprisingly little interest with production in next week or two, cash in the bank according to latest accounts, 1m loan from UJO, and 1.05m loan to be voted on at agm shortly (who in right mind would vote against?)

Perhaps time for an update on EDR's other projects?

This slide in recent EDR final results presentation suggests considerable upside at Wressle, over and above 500bopd expected on ashover grits.
Market makers trying to keep a lid on the price, still difficult to buy online.

If you look at all the trades the last few days, there are some listed that buys go through over the ASK..

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