Egdon Resources Share Discussion Threads

[jasper2712] 24/3/2023 16:39

Increase shareholder value - you're having a laugh ! Increasing my pension pot more like thanks to my pal Jeremy. Wressle the golden goose which landed just in time to save our jobs.

[jpuff] 24/3/2023 16:10

Yep it's another of those AIM lifestyle companies and one to avoid imho even at these very depressed levels

[currypasty] 22/3/2023 14:24

did someone post a link to where the outcome of the Biscathorpe appeal will be displayed ?

[currypasty] 20/3/2023 13:06

its probably a chat bot

ChatGPT will churn that out for you

[jasper2712] 20/3/2023 13:03

Why is it taking so long? With all their extra cash at hand surely a bung here and there will get the process moving along. It seemed to work for the Tories during Covid And what is this flannel about - " Egdon is also making good progress on a potentially material renewable energy, green hydrogen and energy storage project"
Has this been added just to make out they are actually doing something or have they just plucked this waffle from Google

[currypasty] 20/3/2023 10:21

just waiting on the outcome.. not a lot he can say till then

[jasper2712] 20/3/2023 09:52

Strange how there is no mention of the planning appeal

[haggismchaggis] 20/3/2023 07:10

Great news and loads of cash!.Interim Period Trading Statement.Ahead of the release of the Company's interim results on 24 April 2023, Egdon Resources plc (AIM:EDR), the UK Energy Company, is pleased to provide a summary trading update in relation to the six months period ending 31 January 2023 (the "Interim Period").-- Production for the Interim Period was up by 27% to 46,465 barrels of oil equivalent ("boe") equating to a rate of 253 boe per day ("boepd"), ahead of full-year guidance of 225-245 boepd (H1 2022: 36,714 boe and 200 boepd)-- Unaudited revenue for the Interim Period was up 46% to GBP3.725 million (H1 2022: GBP2.551 million)-- As at 31 January 2023 the Company had cash and cash equivalents of GBP5.524 million (H1 2022: 2.084 million) and net current assets of GBP7.334 million (H1 2022: 1.165 million)The Company is continuing to make good progress across its conventional assets and particularly in relation to the near-term operational objectives set out in the 2022 annual report. Production continues to be strong, particularly from Wressle, where Egdon has also progressed with the gas utilisation and monetisation scheme through the installation of the micro-turbines - which will eliminate routine on site diesel generation - and where work is ongoing on the gas to wire project. The Company is progressing towards submitting planning and permitting for further development at Wressle and finalising a programme of drilling in our exploration and development/redevelopment projects for 2023-24. Egdon is also making good progress on a potentially material renewable energy, green hydrogen and energy storage project.Commenting on the trading update, Mark Abbott, Managing Director of Egdon, said:"We continue to generate material revenues from the strong performance of our UK producing assets. This has led to a strengthening of the balance sheet to support the planned 2023-24 operational programme.With the business in good health, I look forward to providing shareholders with a more detailed update on the Company's financial and operational performance on the 24(th) April."

[jasper2712] 16/3/2023 19:20

We are getting more information on Jeremy Clarkson's planning permission application .
We are the ones getting Diddly Squat from our overworked board. Come on, tell us the bad news, we can take it. After all we have been used to it.
Glad to hear the micro turbines are installed. A great pity that a tiny smidgen of foresight wasn't applied when Wressle was brought on stream. It would have appeased the eco warriors and helped reduce our leckie bill but that would have been a bit too much to ask of this board!

[currypasty] 16/3/2023 07:25

Forward Plan

-- During the second half of 2022 Egdon reprocessed the 3D seismic data over the field
-- The new data has been interpreted and mapped with the objective of identifying reservoir targets for drilling an additional well or wells at the earliest opportunity, subject to receipt of regulatory approval

-- The next new well or wells will likely be drilled from the existing Wressle wellsite
-- A new Competent Person's Report has been commissioned incorporating the new field interpretation and production performance data. This will consider all oil and gas bearing formations at Wressle.

[haggismchaggis] 16/3/2023 07:19

"341,100 barrels to 12 January 2023"390,000 to 15 March 2023Difference of 48,900 over 62 days is 788.71 bopd average.8 November RNS advised 656 bopd.Those microturbines making a difference already.

[jasper2712] 02/3/2023 10:49

This lot could not manage the portfolio they already had !

[rolo7] 02/3/2023 07:56

nice news now edr have cash they can expand waddock cross looks interesting 5-800boe/d would be nice.

[currypasty] 02/3/2023 07:30

Egdon has increased its holding in the Avington oil field to 36.33%. Avington remains shut-in, with work ongoing to redevelop the field during H1 2023.

[jpuff] 01/3/2023 16:51

Dull and boring unless you're a salary taker from the company

[jasper2712] 28/2/2023 09:04

Surely the result of the appeal has to be due !
I watched Diddly Squat farm with their appeal for the farm restaurant and they got the result on the day of the hearing. Maybe when should get TV crew to go the hearings on our behalf .

[greypanther2] 19/2/2023 17:09

Hi jasper2712. You say Egdon have taken on another licence but, as I read the recent RNS, all they've done - so far - is to secure a cheap option to farm-in to licence PL081 in Yorkshire. From a geological POV it's a risky prospect in a structurally complex area which is slightly inland from Flamborough Head. I'd be quite surprised if they convert it to a firm farm-in and actually drill a well on it.

[jasper2712] 16/2/2023 19:09

No update from the management as to the progress on the appeals?
They decide to take on another licence and cannot sort out the ones they have already
What exactly are they doing all day - sorting out their pensions?
I get more information reading the EOG/UJO boards than this one.
Come on get the finger out and start doing what your job!

[lageraemia] 06/2/2023 16:25

I was making a facetious point about the on going flaring of gas at Wressle after nearly 2 years coinciding with the highest gas/electricity prices in history.

EDR as operator has opted NOT to earn a significant amount of cash thus far, not least spurning an opportunity to improve the environmental image of the UK onshore industry.