Egdon Resources Share Discussion Threads

[jasper2712] 16/9/2022 19:33

Well if it is then they are doing it with UJO as well and leaving the other partner out of it. It all seems a bit dodgy. Why is there no response from the EDR management regarding the report? As I have said before if Wressle hadn't come along this lot would have joined the dole queue.

[kibes] 16/9/2022 17:36

UT trade at 6.10 when the spread is 6.60/6.80? This is an amazing attempt at manipulation?

[jasper2712] 16/9/2022 15:19

The report didn't work in their favour then even although it backed up the reserves that had been previously issued.
What is there in this report that caused the substantial drop in the SP?
Why has EOG shares not suffered the same fall?

[lageraemia] 16/9/2022 12:37

"Why would UJO commission a report when they are not the operators. It all seems to be a bit odd to me. Why does EDR not make a comment as it is after all affecting the SP?"

There are many GOOD reasons why........It is UJO's prime asset. It is producing great free cash flow, but its value as an asset is dependent on the reserves left to produce.

Its value as an asset makes up a large part of UJO's Net Asset Value (NAV), which is relevant both for the share price and also dictates a large part of UJO's financing options which is CRITICAL. Not least because of the effect that previous LEAKED placings have had on the share price and reputation of the company. The purpose of a stock market is to allow companies to raised equity to fund their business.

Being in profit, UJO now has cash flow to retain and invest to expand its business, and its now in profit so the option of 'reserves based lending' (instead of bucket shop leaked placing for the AIM spivs to crawl all over) is on the table.

That means the more NAV they have, and the more reserves, the more they could borrow, at a lower interest rate, if they identify an opportunity to invest in a way that increases shareholder returns.

[gerhart] 16/9/2022 11:56

I think that some are selling just to take a profit after the big recent surge. Then more follow as price drops as they worry they'll lose profit.

But part of the issue is that politics is suspended and there has been no further talking on fracking. But that will all change as early as next week.

I'm just watching for when I think the fall stops and get back in for some more. Even this price maybe long in the rear view mirror very soon on the way back up.

[jasper2712] 15/9/2022 14:20

Why would UJO commission a report when they are not the operators. It all seems to be a bit odd to me. Why does EDR not make a comment as it is after all affecting the SP?

[currypasty] 15/9/2022 12:46

EDR said in am email he wouldnt be commenting about it as it was UJo's cpr

perhaps he didnt agree with the report ?

[jasper2712] 15/9/2022 12:40

Union Jack Oil PLC Gaffney Cline Report

Why has this report not been put up on the EDR site?
EOG holds 30% interest, and this has had zero effect on their share price - why is this?
Surely it affects all partners
What is in the report that has caused the uncertainty. The only issue I see is the estimated low recovery % but there is an upside in the report that:-
"Should the Deeper Oil-Water Contact potential of the Ashover Grit reservoir become proven, the incremental value of Wressle as a development would be transformational for the Wressle partners"

[jasper2712] 14/9/2022 19:49

The drop in share price over the past few days seems a bit odd . UJO and EDR seem to have fallen after the RNS regarding the Wressle figures which to me seem to be better than originally thought.
However the other partner i.e. EGO the share price has not fallen. So why is this?
Figures of 500bopd were first thought possible and now they expect 800 for at least 5 years. This I believe is a very conservative time scale.
What was the bad news . The only piece I saw was that they are still flaring off the gas which I personally think was caused by the rush to save their jobs and get Wressle into production before EDR went bust.

[lageraemia] 13/9/2022 10:21

The Gaffney Cline report is very interesting, and is probably still undercooking the Wressle potential and recoverability by at least a multiple IMO.

What it does do though is provide a VERY strong backup for the financial case for future development to unlock more value. Another well bore at Wressle has been de-risked significantly.

What we need now is EDR to start indicating a plan to drill something. Anything. For all our sakes...

Increasing income with lower risk stuff like Keddington and Wressle/Broughton would be my preferred course of action. The gas monetisation delay at Wressle is starting to look a bit criminal too having spent the summer heating Lincolnshire with the flaring of valuable gas.

The iron is hot, Mark Abbott has a hammer in his hand.....for God's sake man....Strike!!

[haydock] 13/9/2022 09:06

Many thanks.

[hutch421] 13/9/2022 09:04

www.investegate.co.uk/union-jack-oil-plc--ujo-/rns/gaffney-cline-report/202209130700071658Z/

[haydock] 13/9/2022 08:46

Link please.

[hutch421] 13/9/2022 07:48

Have a look at UJO's independantly commissioned update on potential resources at Wressle.

[haydock] 09/9/2022 16:38

Looks a very strong finish today.

[felchandbart] 08/9/2022 13:39

Have added but it's a struggle to buy currently.

[gerhart] 08/9/2022 12:52

I don't think this is one of these situations, where you should have "bought the rumour" and now "sell the fact".

This is just the start. This share fell back a long way. It is a well run, debt-free company with lots of non-shale cash generating/or potential.

We'd all like to make a fortune quickly, but here things will be more stable. Cos there are millions of warrants profitable above 4p-ish, I think. So lots of those will be generated and dumped as we move forward. (Company has already issued a cover-all notice to the markets I think. So they don't need to announce each time)

The other thing here is that there is a major shareholder, I think with links to a US company with shale experience. I suspect they will offer to buy all our shares now fracking is OKed again, but before share price goes skyward. Just a thought.

[hope67] 08/9/2022 12:49

Response to Government Lifting the Shale Gas Moratorium

The directors of Egdon Resources plc (AIM:EDR), a UK focused energy company, welcome today's announcement by the Prime Minister, Liz Truss, of the lifting of the moratorium on hydraulic fracturing for shale gas which was introduced in November 2019.

Commenting on today's announcement, Mark Abbott, Managing Director of Egdon Resources plc, said:

"The lifting of the moratorium is a logical and pragmatic response to the new geopolitical reality and the new Government should be congratulated on the speed and foresight of its action. In contrast to a growing reliance on imports, the development of indigenous shale gas could have a positive impact on energy security, gas prices and the UK's balance of payments, whilst delivering tax revenues, business rates, community benefits and thousands of well paid, skilled jobs. Importantly shale-gas can also play its part in delivering the goals of Net Zero and the Energy Security Strategy.

With Egdon's material shale-gas position, we now look forward to working positively with Government and local communities to deliver this nationally important resource in a timely fashion."

[kcowe] 08/9/2022 12:20

Sell the news ...

[westmoreland lad] 08/9/2022 11:14

Just taken up the number one highest %age winner slot, closely followed by Reabold plus another decent gain at UJO.

Our time has come -- boom boom

GL ALL

[felchandbart] 08/9/2022 10:42

Hopefully, this is just the start of a big push north. I had 10p as a short-term target - I think that may now need to be revised...

[buffinman] 07/9/2022 22:50

(As posted by kooba on the Igas board)

[lageraemia] 07/9/2022 17:49

The fracking thing is interesting isn't it.

The UJO website lists 'other assets' including two 'impaired' licences Humber Basin and Widmerpool Gulf which are shale plays. EDR is a major partner in both licences:



Humber Basin is the most interesting for me, because as a shale licence, the exact drill site is less important than with conventional prospects meaning that planning should be easier (i.e. not in a Nature Reserve etc like Biscathorpe) and potentially it will be REALLY close to the end user at Immingham Oil Refinery and or Gas National Grid:

[gerhart] 07/9/2022 16:11

Interesting to see what is happening with the share price at the minute (nothing!) in comparison to the relatively steady buying V selling.

Maybe some official announcement lifting ban on fracking will give it its next boost.