Egdon Resources Share Discussion Threads

[greypanther2] 08/11/2022 14:23

Hi jasper2712. What makes you believe that both appeals will fail? I think the Biscathorpe appeal has a reasonable chance of success, though I'm not so sure about North Kelsey, That's because Egdon haven't done much (if anything) there yet and to keep blaming the delay on COVID won't wash IMO.

[jasper2712] 08/11/2022 10:08

I wouldn't get too excited. They managed to squeeze this in
" a total of 8,465,000 warrants were exercised during the period resulting in cash of GBP0.21 million being introduced to the Company. Warrant exercises have continued post year end at an accelerated rate."

Maybe this should read
"Egdon will focus on progressing its conventional oil and gas business and nascent energy transition projects to continue delivering long term value to its WARRANT shareholders."

Ordinary holders have very little to look forward to. Both appeals will be thrown out and they can then sit back and calculate their pensions.

[gerhart] 08/11/2022 08:55

Buy on the rumour, sell on the fact. AKA sell on results day.

But compare results to Co value, as indicated here....

[gerhart] 08/11/2022 07:37

Prelims out. And fantastic they are too.

One angle - just look at the revenue for the last year, then look at the revenue fig for the first 3 months of the new year. If that keeps up, then for various reasons, the full year next year will even exceed this year's results by a fair bit.

[currypasty] 07/11/2022 11:31

new website

[gerhart] 28/10/2022 20:45

If telegraph made that comment, they need their bums kicked. There are no listed companies who are one trick ponies. Certainly not EDR. And what do Tele journos think happens on the markets? Peeps wait to be told by them, a few days after SPs have fallen? Don't think it's wise to sell now at this price. Better to sit tight now for a while.

Fracking would have been a beautiful cherry for us. But we have lots of other conventional stuff going on. Wressle is proving to be a lot better than expected. Maybe we'll get more developments like that.

Results coming up will be good, based on recent oil/gas prices, and the previous Intermin guidance.

So fracking gone, for now. But we've still got a debt-free profitable company, with energy prices not falling any time soon. Ask Vlad the Bad!

[jpuff] 28/10/2022 19:18

Looking like a dead duck - yet again! Telegraph mentions time to get out of fracking companies now. Alas we need something to keep it alive and better still growing!

[currypasty] 28/10/2022 16:39

mcap £13m (according to advfn)

[currypasty] 28/10/2022 12:52

Government Reintroduction of the Moratorium on Shale Gas Extraction

The directors of Egdon Resources plc (AIM:EDR), a UK focused energy company, note yesterday's Written Ministerial Statement (WMS) from the Rt Hon Grant Schapps MP, Secretary of State for the Department of Business, Energy and Industrial Strategy, in which he reintroduced the moratorium on hydraulic fracturing for shale-gas.

Commenting, Mark Abbott, Managing Director of Egdon Resources plc, said:

"This is a highly disappointing and illogical move by the Government, just a few weeks after lifting the moratorium and at a time of an ongoing energy supply and cost crisis. The decision prevents the immediate development of a safe and secure indigenous source of gas and if maintained, locks the UK into long term reliance on more carbon intensive LNG imported from Qatar, the shale-gas fields of the USA and elsewhere.

We will continue to make the scientific and commercial case that shale-gas should be part of the long-term solution to the UK's energy needs and that this can be done in a safe and environmentally sustainable manner whilst delivering material economic and geopolitical benefits for the UK.

Our shareholders can take some comfort from the fact that throughout this chaotic period of government, Egdon's core conventional oil and gas business has continued to generate strong revenues and cash flow and that the fundamentals of the business remain strong."

[gerhart] 28/10/2022 08:09

Suspect the fracking story isn't dead yet..... The Sun's top editorial leader today is critical of Sunak's position.

Though many hate it, The Mail and Sun are probably UK's most politically influential newspapers. And Tories will need every bit of their support up to and at next General Election.

hxxps://www.thesun.co.uk/news/20247977/rishi-sunak-fracking-communities-fracking/

But will sane calls fall on deaf ears?

[gerhart] 26/10/2022 17:52

I did think when I heard Shapps was going to his role - what a dud for a business role! But he voted for fracking last week too, and I thought in any case he will do what his master wants.

Sunak was talking about integrity - FFS he is as much a chancer as many of the others.

JR Mogg was never going to be staying for political reasons, as he didn't think much of Sunak.

[buffinman] 26/10/2022 16:14

We used to be constituents of Shapps. He was a greenie.

[kibes] 26/10/2022 15:38

Sunak has never expressed any enthusiasm for fracking. And with Grant Shapps in charge of energy policy I don't hold out any expectation of anything happening at all. Some people make things happen, others watch what is happening while others wonder what happened. Shapps is firmly in the last group.

[jpuff] 26/10/2022 14:53

I think the only hope for us now is a buyout and put us out of our decade long misery here.

[bionicdog] 26/10/2022 13:59

Give it up , you are wrong.
"The Prime Minister’s official spokesman confirmed that Mr Sunak was committed to the effective ban on fracking set out in the 2019 general election manifesto."

[gerhart] 26/10/2022 13:56

No it wasn't - peeps have misunderstood Sunak's - politician's answer - to the Green Party leader.

Same as when he answered question about long term energy plan - didn't mention north sea. But more licences about to be issued. Are we about to ditch the north sea.

Probably wanted to avoid talking about issues to give loons a target for.

I watched all of PMQs

[officerdigby] 26/10/2022 13:52

In the HOC!

[bionicdog] 26/10/2022 13:50

As I was saying . . .