Egdon Resources Share Discussion Threads

[ldbart] 28/3/2022 11:24

Both UJO and EOG appear to be bogged down with the old Sell on News brigade and the placing overhang.Egdon Resources are sitting pretty earning a decent income from Wressle, Ceres, Fiskerton and Keddington. With lots of news due including Biscathorpe-2z appeal and an operational update on Wressle. I'm sitting tight.

[guesswhosback2] 28/3/2022 08:40

amazing numbers for this little co. still seems to be unloved but chugging along. Could do with some sensible rule changing in parliament on fracking.

[currypasty] 28/3/2022 08:11

UJO RNS... they have 40%, we have 30%



28 March 2022

Union Jack Oil plc

("Union Jack" or the "Company")

US$4 Million Net Revenues Landmark Reached at Wressle Production Development

Financial Update

Union Jack Oil plc (AIM: UJO) a UK focused onshore hydrocarbon production, development and exploration company, is pleased to announce that material landmark net revenues of US$4 million have been achieved from the Wressle hydrocarbon development ("Wressle"), located within licences PEDL180 and PEDL182 in North Lincolnshire on the western margin of the Humber Basin.

Union Jack holds a 40% economic interest in this producing hydrocarbon development.

Highlights

-- Landmark US$4 million revenues generated to Union Jack since re-commencement of production during August 2021

-- Well continues to produce under natural flow with zero water cut
-- Site upgrades ongoing

[ldbart] 28/3/2022 07:40

$3M revenue from Wressle-1 in a few months. That's incredible!! :-)

[ldbart] 25/3/2022 16:16

Just received from MA:"You are correct that our interest in PEDL343 is now 40%.  We did not see this as price sensitive and will update shareholders as part of the interim results at the end of April.I can confirm that we have no current plans for a fund raise."

[ldbart] 25/3/2022 14:49

Could be a very positive week for us next week then!!

[phillyaboots] 25/3/2022 14:40

No problem, worth noting the refund was for April 19 to March 21, so not recent and we now have energy security as a top priority. Hopefully some positive news for shale gas when the new energy security strategy is released - identified as being sometime next week...

[ldbart] 25/3/2022 13:34

Thanks for posting. Really hope this temporary shale moratorium will be lifted. It'll be transformational for the share price Hoping to see that Biscathorpe-2z appeal in Q1. Only a few days left in Q1 ;-)

[phillyaboots] 25/3/2022 09:04

Good morning all, a little bit of news that applies to EDR and IGAS:UK regulator refunds companies £640,000 in licence fees https://inews.co.uk/news/fracking-uk-regulator-refunds-companies-licence-fees-shale-gas-ban-1538216

[ldbart] 24/3/2022 12:54

It looks like Egdon Resources have just increased their holding in PEDL343 Cloughton on 22/3 as well.Putting their Wressle profit to good use.Showing as 40% ownership on the OGAuthority portal.https://twitter.com/leedbartz/status/1506644215731785735

[hoper1] 24/3/2022 12:51

Just been quoted 3.57 to buy...

[currypasty] 24/3/2022 12:46

Up 8%... very strong today

Wressle update due

legacy projects re-valued?

Big buyer, institutions ?

[value_hunter] 24/3/2022 12:29

Idbart, that's for that. Looks like 4p could be coming soon!

[currypasty] 24/3/2022 11:51

A bit of interest in Egdon this morning.
tbh, after Simon Oddie shafted long term Europa holders with a huge half price placing, I shall be looking to swap some into here.. Mark Abbot different class

[ldbart] 23/3/2022 19:53

Near-term price target was 4p.Broker had 6.7p but recently increased to 9p. This excludes Biscathorpe and North Kelsey. If the fracking moratorium gets lifted, we're talking rerate bug time. Very happy to be holding a big chunk of EDR.

[lageraemia] 23/3/2022 18:47

Understatement!

[value_hunter] 23/3/2022 16:52

Ah! See it now in the link, looks like there is plenty of upside potential

[mountain man] 23/3/2022 15:59

Yes - see post 4802.

[value_hunter] 23/3/2022 14:53

Hi all, are there any recent broker forecasts available for Egdon?

[lageraemia] 23/3/2022 14:39

I agree - no placing is needed for the current EDR work schedule.

However, if EDR wanted to strike whilst the iron is hot and floor it (Expedite North Kelsey and Waddock Cross or offshore).....then cash in the bank gives options.

[ldbart] 23/3/2022 13:20

Pretty sure Egdon avoided any further fundraising due to decent income from Wressle, Ceres, Keddington and Fiskerton.Egdon board have confirmed no placing.

[lageraemia] 23/3/2022 10:21

Interesting idea Curry.

1. UJO already own £100,000 of EDR shars at 2p
2. TAC on LSE commneted that UJO maybe flush with cash, but 'some JV partners' might need to raise to fund work still. Coverting £1.18 (in 18m interest at 11%) into EDR shares is a backhand way of increasing UJO's Wressle stake as well as helping to avoid a placing for EDR which is both expensive and reflects poorly on the other JV through 'sentiment optics'.
3. UJO gain further goodwill from their chief JV partner and there's less likelihood that their joint projects will be delayed for lack of cash.
4. EDR avoiding a placing not only saves broker fees, it reduces the chances of any leaks/insider trading and denies the parasitic bucket shop spivs an opportunity to suck some blood.

Obviously RBD's cash position is another consideration, but EDR aren't involved in West Newton.

As you say, UJO's $4m RNS will occur at exactly the same time as woul a $3m RNS by EDR and EOG. That sounds like a GREAT opportunity for a general update and glimpse of the future. The secotr needs a big day to grab some attention for a story that is starting to look too good to be true.

[currypasty] 23/3/2022 10:07

rumours on twitter that ujo are getting close to $4m received. Looking at the above comment on their own twitter feed that must be about right...

At 30% EDR must be looking at $3m then, which should mean we have plenty of cash to pay off the fee due on full production, and the debt to UJO... unless they convert it to shares

[currypasty] 23/3/2022 10:05

Union Jack Oil plc
@UnionJackOilplc
·
1h
#ujo Just some of the equipment in between the well and the storage tanks at the Wressle site! Averaging 700+-800+ bopd, free flowing with zero water cut! Oil price $100+

[currypasty] 22/3/2022 13:20

thanks lbart..