Egdon Resources Share Discussion Threads

[guesswhosback2] 15/8/2022 12:29

There are very few shares in circulation in EDR, hence big rises when the buyers realise the potential. Fracking maybe good news but Wressle is good in its own right and will be a constant income for them. With news to come with an expected upgrade on figures, this has been undervalued for a long time. Mind you, it was for the management to get it going. Luckily, UJO bailed this out with a loan a while ago and so we are in a much better place right now.


Good luck but 10p is not unreal before we get going on anything else. IMHO

incredible buying pressure today even at 5p and then 6p its relentless.

[gerhart] 15/8/2022 10:40

Fair point OfficerD. I can't compare anyway. Know the crowd fancy Igas more, as it has a bigger "chest" - but not sure actually as fit as EDR.

[lammergeier] 15/8/2022 10:30

With regards to fracking ,its already provided a bonanza of energy for the USA saving

billions on imported gas.I remeber there was a huge uproar about the risks of bringing

LNG into UK Ports by tankers and it was hyped up by the Greens.Now Centrica have

done a huge deal with the USA


Most forms of energy extraction carry a risk element but carried out by the right

people with the best technology methods the risks are Low.Fracking is no different

[officerdigby] 15/8/2022 10:29

We got Feb till now.EDR 1.5p to 6p.IGAS 20p to 80p.It's bit hard to compare the other bits of each others businesses. IMO.

[gerhart] 15/8/2022 10:02

Can any regulars on here give an unbiased view on EDR v Igas (Incl Frack/unconventional)- which seems to be performing much better. Though I am grateful we're look good too! Or any true neutrals.

My biased view is that EDR, although smaller, is a better option as it's a small well run debt free Co with plenty of standard options still to explore.

It also has a very big main shareholder, taking a very long term outlook. EDR also attracts less of the "mob" so is more stable in its changes.

My suspicion also is that the (friendly) main shareholding, which appeared to be "tidied up" recently, will lead to a take-out long before any actual fracking. I think because they know the potential. But our management, would only agree to back if decent and not opportunistic bid. Which I suspect it would be. Management team most likely to be kept on.

Only key thing weighing against buying, is that there is a huge number of warrants out there, already profitable. So could be taken up and then dumped -assuming no time restriction on sale of same.

[kibes] 14/8/2022 14:33

The Environment Agency has already done a lot of work on fracking safety concerns and does not ban it, but requires it to be carefully controlled. I don't believe the Geological Society report will start contradicting them, its role is to propose better methods so that the government initiated ban can be lifted. When Boris Johnson is gone the way is clear. As for the UK Energy Centre report, this has got to be nonsense, the quantity of gas under Lancashire runs to hundreds of trillions of cubic feet, more than has been discovered in the entire North Sea. We just need to produce it.

[officerdigby] 13/8/2022 12:35

Report was reviewed, sent back and Kwasu was going to publish and give guidance the next week. Then Boris had to quit. .. so no big new policies till new leader.

[jasper2712] 13/8/2022 11:39

There seems to be a delay in the geological survey regarding fracking in the UK. The last I heard was that it was being given the once over by an American institution before publication.
As to " a report by the UK Energy Research Centre in 2014 concluded that shale gas would not reduce energy prices or reduce the UK's reliance on gas imports." this statement is now redundant in our present energy climate. Shale gas transformed the USA reliance on world oil to the extent that they now are in a position to sell into the world markets. Britain can and should adopt the same strategy, where the shale industry are allowed to extract the gas/oil but at a price set down by the government or no extraction will be allowed. The product is only to be sold in the home market. It is controlled like this in many countries so why not here?
It goes against conservative thinking where a free market is to be encouraged but as Bob Dylan says "Times they are a changing"

[lammergeier] 13/8/2022 07:56

No, I have been buying more recently, especially as the 200 Moving Day Average has
been clearly broken in the last few trading session.That is normally a good thing and
combined with the fact that both Liz Truss and Richie Sunak are pro fracking if either
become PM ,plus high energy prices makes this company a worthwhile investment.
Shorting should never be allowed in small companies,it destroys shareholder value
and some never recover as the banks do not like very high short term gearing ratios.

[2flies] 12/8/2022 21:45

Got a short on have we?

[lammergeier] 12/8/2022 19:54

hxxps://www.msn.com/en-gb/money/other/top-tory-calls-for-fracking-to-reduce-huge-energy-bills/ar-AA10AWrQ?fromMaestro=true

A report by the UK Energy Research Centre in 2014 concluded that shale gas would not reduce energy prices or reduce the UK's reliance on gas imports. In addition, campaigners against fracking say that it emits greenhouse gases and triggers small earthquakes.

As a result of such opposition, the Government announced a moratorium on fracking in England in November 2019. Councillors also recently rejected an application for drilling in an area of the Lincolnshire Wolds that is thought to hold more than 30 million barrels of oil.

The application was made by Egdon Resources, a company which has 38 licences in oil and gas basins across the UK, and would have seen it based on land in Biscathorpe. The Biscathorpe land was previously the home of a now dormant sand and gravel quarry, and Egdon already drilled the site to a depth of more than 2,000 metres as part of exploratory work between December 2018 and February 2019.

But Lincolnshire County Council rejected the company's drilling application last November. In terms of future fracking though, the Government paved the way for a reconsideration of the moratorium earlier this year by commissioning a new study to examine safety concerns.

Both Liz Truss and Rishi Sunak, the two contenders vying to be the next British Prime Minister, have also said that they would support fracking in areas where it had the backing of the community. A spokesperson from the Department of Business, Energy and Industrial Strategy said: "We've always been clear that the development of shale gas in the UK must be safe and cause minimal disruption and damage to those living and working nearby."

[officerdigby] 12/8/2022 14:35

FOMO shares peak on Fridays! LolNot quite relevant here here is FOMO mid Sept I would think.But yeah... day traders.. exist

[strummerjon] 12/8/2022 13:36

I'm guessing, if this behaves like so many FOMO shares recently, having peaked at midday, this'll be back down to 4.6p by the close of business as the daytraders do their thing.
I'm hoping though this is the beginning of a greater realisation that we need to source our own fossil fuels in the meantime, while we're waiting for green energy to catch up as Putin and his cronies can never be trusted again not to weaponise energy supplies.

[officerdigby] 12/8/2022 11:10

Of course there are differences!IGAS has 2k oil production (UK on shore) to back up MC. Going to 2.5k this year.It has two gas wells for fracking drilled already samples taken just not fracked....So guaranteed gas if given go ahead. They have a time line for -12-18 months to provide gas to ~10% homes.I'm not able to comment on different quality of assets someone else. All I know is IGAS wells are in different region to where previous seismic issues came from NW? IGAS also do geotherm projectsI don't know EDR that well trying to get up to speed? Anyone?.

[kcowe] 12/8/2022 11:05

The answer to that question is the key to a profitable trade.

[billthebank] 12/8/2022 11:02

Surely there has to be a difference between IGAS and EDR for there to be such a gap in c/v?

[kibes] 11/8/2022 11:14

EDR (market cap £22.8 million) has similar shale gas resources to Igas (market cap £82.8 million). Egdon share price would need to be 16p to catch up with Igas, which is going through the roof. Pay for your energy bills by buying into the producers of gas!

[jpuff] 11/8/2022 10:50

Energy bills to hit 5,000 now is latest forecast today. Dyor

[talkman2] 11/8/2022 10:35

Looks like the next PM ( Truss and Sunak ) will re-introduce fracking . Given our world-class licenses this could go ballistic

[currypasty] 08/8/2022 07:12

Egdon Resources (AIM: EDR) is pleased to advise the submission of an appeal against the refusal by Lincolnshire County Council in March 2022 of an extension of time to the existing planning permission for the drilling and testing of a conventional exploration well at the North Kelsey site in PEDL241.

Egdon holds a 50% interest and is operator of PEDL241.

The appeal documentation has been submitted to the Planning Inspectorate ("PINS") and the appeal will now be validated by PINS before an inspector is appointed and a timetable defined. The expectation is that the appeal will be decided under the Written Representation Procedure, a process where PINS will consider written evidence from the appellant, the local planning authority and other interested parties.

[gerhart] 27/7/2022 08:24

Truss and Sunak both said at last night's Sun debate that they would go with fracking, with consent of local communities.

I think that is the caveat that was always going to be part of the communication.

So it will be up to Gov and exploration companies to come up with a few nice "carrots" to ease any concerns genuine locals have. I think they will have no problems doing that, given the potential bounty they may uncover.

[gerhart] 13/7/2022 09:52

Don't like it, but was expecting it.

If BJ hadn't been forced to quit last week, chances are he would have decided to go ahead with it. (Think report went to US for peer review, but gov must have it now)

But the Gov is in limbo, no big decisions. So we have to see who the final two in the Tory race are (by next week) and hear their views, which may change sentiment very quickly again. Can't imagine in current climate either being against.

EDR still raking in cash on back of current oil/gas price and no debt.