Egdon Resources Share Discussion Threads

[meanreverter] 06/2/2023 11:14

I hope that, if they do hit gas, they will just cap it until a pipe can be connected to the gas grid. Normally, gas is flared only when it comes up with oil that can be profitably exported while the gas cannot practically be reinjected or exported.

[rolo7] 06/2/2023 10:17

York have exposure to/in Ukraine looks interesting but only uk licence at moment.

[lageraemia] 06/2/2023 09:59

If they do hit gas, they'll probably just flare it for a year or two first though......lol

[currypasty] 06/2/2023 08:04

"This farmout option for the Weaverthorpe Prospect represents a significant opportunity for Egdon to increase its exposure to a potentially material gas resource at a time when the UK's reliance on imported energy has come into sharp focus.

[haggismchaggis] 06/2/2023 07:40

Sounds good!

[gerhart] 27/1/2023 13:31

I looked in another place to see if a delayed trade had shown up - but not yet.

SP opened higher from the off today. So suspect 3-400k buy waiting to be declared.

[greypanther2] 27/1/2023 12:05

Don't hold your breath CURRYPASTY. I realise the micro-generators are on site, or even possibly already installed, but I expect we'll find out before too long there's still something else needed before the generators can start up. I hope I'm wrong but one learns from experience with Egdon. All the best.

[currypasty] 27/1/2023 11:35

Im expecting an update on how the gas to electric is going and how its helping production before the end of the month (ie mon/tues next week)

[gerhart] 20/1/2023 08:30

Haggismchaggis - you're probably right. I was watching yesterday. The share price rose at about 14.45.

On the "live" trades the 300k was showing as a trade at about 15.47. (looking back now it shows as 16.45)

But it was almost certainly done at 14.45 and hence the share price spike then.

On a different note, we are of course hugely undervalued. So clearly so now, given what the company have outlined with Wressle (now just a little cash cow) compared to current capitalisation.

Odd, in a small way, in some ways that the main shareholder doesn't want to buy the remaining shares and have the regular income stream - even without any other prospects.

[bomfin] 20/1/2023 07:13

Egdon have a big tax credits balance. Has anyone got taps on how much it is and whether or not they can offset everything except the recent 35% production levy ?

[haggismchaggis] 19/1/2023 21:02

300k late reported buy. Sells were at 2.90. No way would a 300k sell then be 2.95p. The 3.1p shown as the ASK is not where the deals were being done, hence the automated reporting is wrong.

[haggismchaggis] 19/1/2023 16:39

"Full year revenue increased by over 530% to £6.91 million"

"Production and revenue has continued to be strong with revenues for the period August to December 2022 (5 months) of £3.08 million"

3.08 / 5 * 12 = £7,392,000


Wressle:

"Daily rate of 1029 bopd achieved during December 2022 following 4-day maintenance shut-down"

"Current rate around 825-850 bopd"

"The microturbines are expected to enable up to a 20% uplift in production" (image of them on site, so not long for those to be operational).

£7,392,000 +20% = £8,870,400

Plus Gas sales and any other upside in production.

[gerhart] 17/1/2023 14:58

As of 15.00hrs on Tuesday, looks like the operational update and AGM went down a storm. :(

The update was very positive...why would you sell today, rather than last few days. Odd.

[haggismchaggis] 17/1/2023 14:29

Eventually the market resigns the no longer relevant history to history, it looks at what the company has now and in the future, it wakes up and smells the coffee. That time should be now. I can see some smaller ii's picking up EDR, EOG and UJO over the next few weeks (DD takes time!).

[jasper2712] 17/1/2023 13:43

That is the main reason that this is in the doldrums- the directors! Wressle saved them and it had nothing do with their competence

[gerhart] 17/1/2023 13:27

Fascinating, that a company with such a clear and steady revenue stream, and potential for much more, is so undervalued. Though, suppose companies can be like that.

Fascinating too though, that it's been sometime since any directors have thought of topping up.

[rolo7] 17/1/2023 10:00

Another gap open on the chart

[currypasty] 16/1/2023 17:19

was an update, now pulled.. presume it will be released tomorrow with the AGM

[gerhart] 06/1/2023 11:58

A single trade of 400k shares moved the price today. Couldn't be much free stock out there. So any significant meaningful news could move the share price back up very quickly.

Very low valuation at moment, given the cash they are generating. And outlook for oil price is stable, or very positive. (Appalling war in Ukraine continues, meanwhile China prepares to open up again)

[rolo7] 06/1/2023 10:12

What would be the gas production figures?

[currypasty] 06/1/2023 09:30

Egdon Resources plc
@EgdonResources
·
40m
Introducing “Elli”, “Steffi” and “Olga” the three new Capstone C65 Microturbines installed on site at Wressle with hook up and commissioning ongoing and expected to be complete later in January. #EDR