Egdon Resources Share Discussion Threads

[ldbart] 27/1/2022 08:29

It was cancelled. It didn't execute. Didn't show on the volume chart. I've been tracking each trade for weeks now.

[currypasty] 27/1/2022 08:13

i think the 1.75 mil at 1.62 yesterday was a sell

[ldbart] 27/1/2022 08:10

Haven't been many sells in EDR for a while now. All large trades above 1.65p are buys.

[nash81] 26/1/2022 21:50

good to see that evil K now have stake in EOG, after buying 1m shares, with target price 7p plus.

any uplift in sentiment in EOG will hopefully help bring positive sentiment to EDR too



"But FinnCap’s analyst has come up with a target price of 7p+. And Mark’s piece emphasises the possibility. My only gripe is that he does not offer an analysis of risked reserves. But we’ll let that pass. I this morning paid 1.7p for 1m."

[currypasty] 26/1/2022 17:44

mm's still got a tap to large seller... from last placing? EOG large seller looks like cleared after several tips (including cawky)

[bomfin] 26/1/2022 09:16

This government permission seems to suggest that Spirit Energy were trying to raise the production limit on Ceres and doing a `Screening` to get producton up. Anyone able to shed some light on this. I think it is producing around 50 boe net to Egdon 10% share which at current gas prices gives off about £5,000 a day cash flow.

Anyone know what is happening here ? TIA,

[greypanther2] 25/1/2022 15:35

I believe $9 per barrel is the operating / lifting cost for Wressle, whereas the "all in" development cost, including all the historic capex, is about $18 /$19 per barrel. Please put me right if you think differently.

[ldbart] 25/1/2022 10:57

Good post, CPMy only comment is that the original production break-even costs of $18 have long been swallowed. I've had it on the highest authority that the cost before profit is just $9 per barrel, which is what I use in all of my forecasts on Twitter.

[bomfin] 25/1/2022 10:41

I note that Spirit Energy did work on the Ceres well before it came back on production. It was meant to increase production there. Anyone got any news on that or can show the Ceres production profile from the government website. I know it is a few months behind but it might give an indication.

[currypasty] 25/1/2022 10:11

"Brokers View
Director of Research Jonathan Wright at brokers finnCap has estimated that the company in the current year to end July will see revenues jump from £1.2m to £5.2m.

That should be good enough to turn the previous loss of £0.8m into an adjusted £1.7m pre-tax profit, generating 0.3p of earnings against a 0.1p loss last year.

The broker has put out a price objective of 7.7p on the group’s shares.

My View
I think that this little ‘penny stock’ is a real winner in the making.

The Wressle-1 production costs are said to be around $18 a barrel. So even taking a range for the year of around $70 a barrel that looks really quite appealing.

But if the Russia/Ukraine situation gets a lot worse it is possible that oil will rise to over $100 a barrel.

The margins look excellent – and that is just the EOG interest in the Wressle-1. It has so many other potentially exciting positions, including a growing geothermal play.

Its interest in Wressle-1 will produce sufficient cashflow this year to help the group to further its interests across its portfolio.

Obviously still highly speculative at the current rates of production, I see these shares which touched 2.2p in March last year and are now just 1.57p, as a cracking punt for investors prepared to take a 2022 view.

As stated earlier, I see them more than doubling in price this year."

Quite confidently, I now set my Target Price at an easy 2.25p a share.

[ldbart] 25/1/2022 07:47

Biscathorpe-2z planning appeal is on! http://www.egdon-resources.com/biscathorpe-planning-appeal-update/

[ntv] 22/1/2022 19:53

I would be happy with 5p as well bomfin :-)

[bomfin] 20/1/2022 12:35

They beat my 5p target. That`s quite pleasing.

[ldbart] 20/1/2022 12:25

The 500K is a buy ;-)Here's a broker note from yesterday with a 6.6p price target on it:https://twitter.com/leedbartz/status/1484138737286230026

[shujja1] 20/1/2022 11:45

You can't hold a good thing down nice buying today nice buying yesterday it should pop

[bomfin] 20/1/2022 08:12

Although I am in a couple of weeks back I take the well analysis with the proverbial pinch of salt. I remember the prognosis at Avington for example. Still, They say they have 2 other zones to test. They can go either way. Beat expectations or worse than expectations. 2 rolls of the dice there, another roll of the dice at Resolution with nat gas prices increasing the value of that asset surely. Ceres is making money that was never expected. They have the cash now to pay their share of getting the most out of Wressle including monetising the gas. Looks mightily cheap to me.

[ldbart] 20/1/2022 08:08

Yes. £9.8M annual profit at the full 1,543bopd.Here's the calculation:https://twitter.com/leedbartz/status/1483728973305630720

[robizm] 19/1/2022 10:56

These and EOG should merge as too many directors salaries to pay (and their pay is not cheap).

[rolo7] 19/1/2022 08:43

Really on 30% to edit stake

[bean02] 19/1/2022 08:19

Currently can only buy £500. Expect to clear the 2s shortly

[ldbart] 19/1/2022 07:44

Excellent RNS today. At just 1,250bopd (oil alone) that's £7.7M annual profit.

[ldbart] 18/1/2022 13:32

Someone takes out that 250k sat there at 1.65p and we're on a run up again ???