Egdon Resources Share Discussion Threads

[ldbart] 22/3/2022 13:07

Fantastic re-evaluation forecast today. From 6.7p to 9p and mentions further increase with success at Biscathorpe-2z.I've posted the valuation note on Twitter:https://twitter.com/leedbartz/status/1506255491902681089?t=PCMiGJHDB0hJlMAFowRt2g&s=19

[currypasty] 22/3/2022 12:34

Egdon has several projects which could be quite valuable now the tide is turning on fraccing .. from results



"Unconventional Resources
The Group holds a significant unconventional resources portfolio
of licences located in Northern England, totalling 151,742 net
acres (614km2
net) with estimated Mean volumes of
undiscovered GIIP of 37.6 TCF (independently assessed by
ERCE in 2016). Our primary focus is the Gainsborough Trough
where the results from the 2019 Springs Road-1 well (Egdon
14.5%) highlighted a potentially world class resource in the
Gainsborough Shale. However, activity is currently paused with
all licences being held on a care and maintenance basis due to
the moratorium on hydraulic fracturing for shale-gas imposed in
November 2019"

[ldbart] 18/3/2022 13:08

Well, that's the thing. The reasons were very woolly. Local NIMBY rejections. Local councillors baiting to Greta and trying to keep their electoral seats.Egdon lawyers have poured all over it. Appeal will be strong. I'm expecting it to be lodged within a week.Biscathorpe is a major asset and very significant for UK Onshore O&G. The largest unappraised reservoir.

[hoper1] 17/3/2022 16:01

And over at Union Jack:
"Union Jack Oil plc (AIM: UJO) a UK focused hydrocarbon production, development and exploration company, is pleased to announce that the East Riding Planning Committee has approved the planning application for drilling and production at the West Newton A site and have separately approved a time extension to allow further exploratory drilling at the West Newton B site."

[ldbart] 17/3/2022 13:43

More good news... Lincolnshire County Council have just approved Angus Energy's Saltfleetby Gas Production. That's quite significant, as Biscathorpe is under the same Council. Shows they are slowly warming to O&G. Hoping to hear an update on our appeal soon.Saltfleetby is very close and on the same structure and ridge system as Biscathorpe, North Kelsey and Keddington.

[currypasty] 17/3/2022 12:16

that ties in with previous comments that the EA permit could equate to about 800 bopd oil... Fantastic news, while we prepare to monetise the gas.. Oil up $6, at $104

[ldbart] 17/3/2022 12:12

Decent update on Wressle-1 from the Director:" I am sure you can understand I can't comment on specific flow rates. However, the new flare has removed the constraint to production caused by the previous flares.  The restriction is now the EA permit limit for gas incineration which allows us to produce more oil than previously but still not at the full capacity of the well.  Gas utilisation will remove this final constraint and add a further revenue stream." 

[ldbart] 17/3/2022 08:22

Lots of site photos and rumours yesterday.New huge gas flare stack.6 tankers a day (1,300bopd).Officials on site.David Bramhill (UJO MD) on site.Rumours unconfirmed, but it does all add up to a bit of excitement.

[kingivor] 16/3/2022 08:32

No Wressle update operations in 3 months. Options issue at a false low price.
Will this be taken private?

[jpuff] 15/3/2022 21:17

https://www.telegraph.co.uk/politics/2022/03/15/frack-freeze-dont-really-have-much-choice/

[ldbart] 15/3/2022 18:36

Two HUGE buys just printed. 3.3p and 3.4p

[talkman2] 15/3/2022 15:02

Would be nice to have an official update . Way overdue

[jasper2712] 15/3/2022 14:31

Keeping them all in their well paid jobs. Maybe they can start earning their salaries by getting the rest of their portfolios in order. The ones I referring to are the ones put on the back burner when money was running out.
What have they done to sell the gas or are they still flaring it off. Surely they have had sufficient time to get this contained and sold into the market to capitalise on the gas price.
The momentum is there to put forward their case for fracking but as yet we have heard nothing from the PR side.

[currypasty] 15/3/2022 14:30

"Busy day at Wressle, 4 tanker visits so far today."

[ldbart] 15/3/2022 14:18

Lots of Wressle site footage on Twitter. Looks fantastic!

[karina] 14/3/2022 15:58

This is quite some statement from a Councillor. Should help the appeal She also said it should not have been so difficult or taken so long to refuse planning permission for the development."It should be easier for councillors to make these decisions. They are still struggling to find reasons in planning law to reject unsuitable applications.

[kibes] 14/3/2022 15:02

These NIMBY Councils need to be overruled at a time when we desperately need to develop as much indigeneous oil and gas as possible.

[ldbart] 14/3/2022 13:36

Oversold. North Kelsey wasn't priced in. All about Wressle right now. Updates due.

[currypasty] 14/3/2022 13:16

well done!

NK would have been ages off anyway, need an access road, infrastructure, work at well site.. Appeal should be pretty sharpish anyways.

[guesswhosback2] 14/3/2022 13:09

Curry - just managed to nick some more on the drop.

[toopoor] 14/3/2022 12:56

Keras Resources (KRS)looks for a breakout..

[currypasty] 14/3/2022 12:53

Given this, we will bring forward an appeal against this decision without delay and will provide further updates in due course."


time for a top up... they can only delay the inevitable