Egdon Resources Share Discussion Threads

[currypasty] 17/5/2022 12:04

EDR looking very strong this morning, as opposed to UJO, and EOG red.. Anyone got any rumours to share ? have we a replacement for shell ?

[hoper1] 16/5/2022 15:40

Union Jack just posted results - and included this:

Successful proppant squeeze and coiled tubing exercise at Wressle resulted in an instantaneous flow rate of over 1,000 barrels of high-quality oil per day ("bopd") being achieved with zero water cut

Wressle-1 pressure test analysis by ERCE indicates potential flow rates of between 1,200 to 1,500 bopd are achievable

Wressle Revised Field Development Plan submitted to the North Sea Transition Authority ("NSTA") for approval

Lets hope some of their share price increase flows over into us as well

[currypasty] 11/5/2022 12:10

seems to be recovering a bit.. should be back to 4p shortly imo... that shell news wasnt factored into shareprice, so equally shouldnt have knocked us down... Perhaps another player will step in ?

[currypasty] 11/5/2022 12:08

a bit here about Wressle

[currypasty] 09/5/2022 16:18

suprised this blue, when every other oiler i follow is well down today

shell replacement ?

[currypasty] 05/5/2022 21:26

Edison report

[currypasty] 05/5/2022 07:59

Outstanding Warrants

Following the exercise of the Warrants reported above 50,399,000 Warrants remain outstanding and are exercisable at any time until 23 July 2023.


what a shame companies give away these warrants when the placees already have such a discount on the new shares.. dilution just as we are getting going

[currypasty] 03/5/2022 17:59

1.77 mil trade (sell?) at 2.62p

[kibes] 27/4/2022 15:25

Shell and BP both slowly imploding as they divest their oil and gas assets to replace them with BS about net zero, wind, geothermal energy and hydrogen. Shareholders will begin to notice sooner or later that the money has stopped coming in. It doesn't surprise me that Shell doesn't want to do a small gas development, there is a danger it might actually make money especially with a shortage of gas and high gas prices in the UK. We still generate around 50% of our electricity from gas and despite all the net zero hype that is not going change any time soon. At any rate, Egdon still has the gas and somebody may notice in due course. But they are pretty good at sitting on their hands.

[jasper2712] 27/4/2022 14:29

Shell and protecting the environment just do not go hand in hand!
Egdon would have been bust by now if it had not been for Wressle. They were lucky. All their other holdings always seem to go to appeals . Questions should be raised as to why that happens. Their handling of the Kelsey situation speaks volumes.
The lack of foresight in capturing and selling the gas shows me they are incompetent. Not only is having to flare it reducing the oil flow but it also does harm to the environment which has a knock on effect when applying for planning consent.
The management have a lot to answer. They run this company (badly) with the sole intention of keeping themselves in well paid jobs .

[currypasty] 27/4/2022 13:51

where do they say that ?

[anley] 27/4/2022 13:06

The Shell withdrawal is over ENVIRONMENTAL issues such as fishing.

[greypanther2] 27/4/2022 12:57

Hi there kibes. I'm quite sure that Egdon knows what needs doing at their Resolution / Endeavour offshore gas discovery. It's exactly what they were going to do with Shell's financial assistance: a 3D seismic survey and then a development well (or maybe two) if things still look good after the survey is interpreted. Egdon's problem here is that they aren't sufficiently financed to be an offshore player on their own, but only able to afford onshore activities. They previously took a long while to find Shell as their farm-in partner, so the problem now is to find someone to replace Shell who has suitably deep pockets. That could be quite a challenge, but the current high gas price may help them.

[kibes] 27/4/2022 09:54

Egdon are sitting on 481 bcf of gas in place in the Resolution Field (source: Schlumberger) close to shore at a time of a gas supply crisis but are too gormless to know what to do with it without Shell. Somebody should take this company over.

[hoper1] 26/4/2022 16:34

Presumably it's the Shell news which has kicked this in the goolies. Shame to focus on that when the rest of the news is good.

[currypasty] 26/4/2022 15:41

what a balls up

[ntv] 26/4/2022 15:40

Actually looks like a RNS problem

[grannyboy] 26/4/2022 15:24

It's that dopey sod Abbot that's holding UJO back.. Bramhill shouldn't commit to anymore joint ventures with EDR, it's like an anchor around UJO's neck!!

[currypasty] 26/4/2022 15:13

malcys blog

"These historic figures are just that but the highlight is of course the Wressle production number but Shell withdrawing from its partnership is extremely disappointing but no great surprise. The shares have fallen sharply on these figures which is probably overdone.

What I don’t get is that there is no comment from the executive MD at the interims but there is from the Non-Executive Chairman who according to the website ‘retired from the city in 2002 after nearly 40 years working in UK Corporate Finance for various financial institutions’. If I held the shares I would really want to know what Mark Abbott thought about the results and the Shell situation…"

[jpuff] 26/4/2022 15:02

It's been a serial disappointment and I've been holding for years locked in

[currypasty] 26/4/2022 09:56

not all the red trades are sells.. i added 300k at 3.19 showing red..

someone else will come along and make an offer for endevour

dont forget the web chat from Mark

.

[lageraemia] 26/4/2022 09:30

UJO are already sitting on a 50% profit on the £100,000 in EDR shares Dave bought in 2020 as well.

I'm sure Dave and Graham are running the slide rule over Waddock Cross and possibly now the offshore gas discoveries at Resolution and Endeavour that Shell have dropped.......they are so close to shore they are practically on the beach off Scarborough.



Seriously though, in the current political climate that development is politically desirable to anyone in Yorkshire and the North East with non-trivial gas bills. Development costs are probably in the order of £50m I estimate. Anyone got a better handle on that?

17 MMscfd per day is the equivalent of 3200 barrels of oil. I can understand why this might be off Shell's radar, but that is still a HELL of a lot on a small company/consortium basis and non-insignificant for the UK, especially as it is close to the Humber and Tyneside hubs.

With the massive potash/polyhalite mine building out under the North Yorks moors, that gas could be used to add nitrogen making the UK a huge net exported of premier league quality fertiliser in high food price world.