Egdon Resources Share Discussion Threads

[greypanther2] 24/11/2022 12:50

Hi jasper2712. Your question "How is the share price ever going to recover?" is a good one. In my opinion there are several things that might improve our share price significantly over the next few months. Firstly, that Egdon buy and install the micro-generator for on-site electricity use at Wressle before the end of the year. With the field currently choked back to ca. 700 750 bopd, the daily use of (say)2 tonnes of the 10 tonnes/ day flaring limit could improve production by 10 / (10-2) which is 1.25, or about 25%. Secondly a positive result before year end from the planning inspector for Biscathorpe would be quite positive IMO as I understand the potential resource there is quite large. And third I suppose we could hope for a takeover approach! But with Egdon's shareholder structure a bid is unlikely to be successful unless it was backed by their one big shareholder. They seem to have been supportive up to now, so I wouldn't bet on the last one.

[jasper2712] 21/11/2022 17:02

"Warrant exercises have
continued post year end at an accelerated rate."
Change "accelerated" to "worrying".

In April of 2022, licence operator Shell advised Egdon and the
NSTA that it had decided to withdraw from P1929 and P2304
Should the 3D survey not be acquired by April 2023, which is now more than
highly challenging, P1929 will determine in May 2023.
Change "challenging" to "unlikely"
An impairment of £1.80 million has been made as a result of the
expectation of both licences lapsing in the coming period.

The Avington field remains shut-in.
Waddock Cross is currently shut-in
The Kirkleatham gas field remains shut in.
Biscathorpe We would expect to hear the outcome of the Appeal around the
turn of the year.
North Kelsey a decision expected early in 2023.

How is the share price ever going to recover?

[jasper2712] 21/11/2022 16:05

That is what I have tried to log into. Tried again and hey presto it now works. Is someone actually taking notice?

[jasper2712] 21/11/2022 11:42

Just tried to access the results on their web page. They can't even seem to get this right. Does anyone check before putting out the RNS?

[grannyboy] 21/11/2022 10:05

Its about time Abbott got his finger out, DB at UJO and S.O at EOG are getting stick for the incompetence of Abbott.

[haydock] 14/11/2022 09:39

hxxps://jpt.spe.org/chevron-poised-to-market-responsibly-sourced-gas-from-texas-and-colorado

[jasper2712] 11/11/2022 17:03

Another great week for the shareholders. We certainly are getting a good reward for our patience and investment. I think I will give my money to the salvation army to help the homeless rather than prop up the board members pension fund. Results posted this week putting us into profit thanks entirely to the proceeds from Wressle
At the very least they could collectively make a statement with the other shale companies to try and get this government to see the logic in producing oil from fracking. However "logic" just does not seem to be part of this governments psyche
At least get the gas sorted out they have had plenty of time to do this

[jasper2712] 08/11/2022 17:09

Both appeals will fail due to the way this management have handled them.
1. They did nothing with Kelsey. They have kept the local community in the dark as to their plans. Not the best way to get them on your side. They caused delay after delay which had nothing to do with covid but everything to do with their incompetence.
2. They could not even attend the appeal. That to me is arrogance and being totally disrespectful to the appeal board and the local community.
Their jobs are now safe due to Wressle. What exactly are they doing all day? Are they still flaring the gas as there was no mention of any progress regarding this.
They have a cheek to even talk about shareholder value. You only have to look at the share price

[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 19:45

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 18:18

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 15:39

mcap £13m (according to advfn)

[currypasty] 28/10/2022 11:52

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 07:09

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 16:52

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.