Egdon Resources Share Discussion Threads

[markfrankie] 24/4/2023 08:50

EDR look forward to updating on progress through the second half of the year, may as well sell until h2 then

[haggismchaggis] 21/4/2023 00:00

"The UK's oil and gas sector is set for a steep decline in production and capital expenditure, alongside a sharp uptick in decommissioning costs, according to the latest data from the North Sea industry's watchdog."."The North Sea Transition Authority (NSTA) has calculated that annual crude oil production will more than halve over the current decade, dropping from 49.34m tonnes in 2019 to 24.62m tonnes in 2028, including a six per cent decline this year.".hTTps://www.cityam.com/north-sea-industry-blames-windfall-tax-for-sharp-declines-in-oil-and-gas-production/.Going to need our oil even more

[jasper2712] 20/4/2023 09:27

" Outperform" is not a word in their vocabulary. Neither is "forward thinking" or " releasing share holder value". The word that does jump out the page is "incompetence" on a grand scale

[markfrankie] 20/4/2023 09:03

Actual time frames, it's good for a company to outperform their own time frames but not the other way around

[markfrankie] 20/4/2023 09:00

I wonder if fiskerton will get a mention, or is that it ? Or is there an ACTUAL 'time frame' plan for stimulating it

[jasper2712] 19/4/2023 09:53

That would require them to do some work.

[markfrankie] 19/4/2023 08:27

Kiddington.... oops sorry Kedington could surely be advanced? EDR need something other than wressel

[markfrankie] 19/4/2023 08:23

Would be good to hear a positive REALISTIC update on projects no more pie in the sky time_frames

[greypanther2] 09/4/2023 17:02

Hi jasper2712. Regarding your comment about the appeal(s), if you're talking mainly about Biscathorpe I know from bitter experience that trying to get a government planning officer to work at any speed on an appeal decision is a bit like trying to push on a piece of wet string. The planning inspectorate claims to be heavily over-worked, and it may well be so. I don't therefore think it's completely fair to lay all the blame at Egdon's door. But North Kelsey is another matter IMO. If they like this prospect so much, I wonder why they've kicked the can down the road so many times. Maybe their 50% interest in NK is a bit rich for Egdon,

[jasper2712] 06/4/2023 09:00

You are spot on there. I just wonder what they do all day . Still no mention of the appeal 'it seems to me they have given up on that as well. More information is needed to explain how they are going to release share holder value rather than keeping them in well paid jobs/pensions.

[currypasty] 06/4/2023 07:15

yes, Jasper, selling to grid is the next stage muted to be complete this quarter. Selling to grid should allow another hike in production and actual cash generated from electricity sale... dont hold your breath though, things seem to take much longer than indicated timescales from edr.

[jasper2712] 05/4/2023 19:32

They don't sell the gas. It was being flared off until just recently when they eventually managed to use it to generate electrical power for the site. I don't know if they sell the excess to the grid but I very much doubt it .

[greypanther2] 05/4/2023 09:28

The NSTA has recently reported January's production figures for Wressle. They averaged oil at 832.49 bopd (barrels of oil per day) and gas at 84.51 boepd (as barrels of oil equivalent per day). Because the NSTA uses a 5,800 cu of gas to one boe conversion factor, this makes the average daily gas production 490,158 cu. feet / day, or a GOR (gas to oil ratio) of 588.8 cubic ft of gas per barrel of oil.

[jpuff] 03/4/2023 10:09

Well we're happy to buy LNG shipped all the way from the USA from fracked gas. Now how green is that compared to producing our own fracked gas?

[gerhart] 31/3/2023 13:29

A bit of a contradiction here:

We continue to believe and assert that fracking for shale gas can and - will be done -
....It is unfortunate that this strategic resource is unlikely to be realised."

Amazing to think how bad things got/are in relation to our energy needs due to war in Ukraine. Yet many think China will definitely invade Taiwan in just a few years. And if they do, things will be much, much worse. Basically WW3 or close to it.

Yet we ignore something like fracking under our feet. So politicians will be running around as usual, like headless chickens, blaming each other when the lights go out, or when so many are freezing due to the cost that we'll have to pay.

At least the green lobby is happy.

[jasper2712] 31/3/2023 10:10

From the IGas results

"Having taken advice, and reflected on our strategic goals as a business, we have decided not to pursue legal recourse further in respect to the reimposition of the moratorium on hydraulic fracturing and have fully impaired our remaining shale assets. We continue to believe and assert that fracking for shale gas can and will be done safely and in an environmentally responsible manner. There is a significant recoverable gas resource in the Gainsborough Trough, the equivalent of up to 19 years of the UK's gas demand, that could provide this country both energy security for years to come as well as providing billions of pounds of investment into the East Midlands and the creation of thousands of skilled jobs. It is unfortunate that this strategic resource is unlikely to be realised."

This management need to be following suit. " The Group made a loss after tax of GBP11.8 million. This was after deducting a GBP30.0 million impairment of our shale assets following the reimposition of the moratorium on hydraulic fracturing"

[rolo7] 30/3/2023 09:44

Government energy policy today announcement throughout the day heres hoping, also bank interest on 6 million cash would pay some edr bills

[gerhart] 30/3/2023 09:35

Thanks Rolo. I know the - very healthy - financial situation. That's what annoys about the share price

[rolo7] 30/3/2023 09:30

Edr is cash flow positive as shown by increasing cash balance even at these lower oil prices, find end of April.

[gerhart] 30/3/2023 08:36

Rolo, I am in awe of your optimism for a divi! Are you sure you're on the right board?! :) Don't think market shares your view.

I'd just be delighted if the share share price reflected more of the value and potential here.

Don't know the life span of Wressle is, but was just thinking ( silly thought) but if they were to close down everything else and just worked on Wressle, we would have a self-funding profitable cash generator? :)

Does anyone know what the green energy storage project mentioned on the last update is all about? Sounds interesting, and given way it was worded, could add significant value.

[jpuff] 29/3/2023 17:05

Should comfortably make it back to a penny imho

[jpuff] 29/3/2023 17:03

New low for year

[currypasty] 28/3/2023 11:22

Egdon Resources plc (AIM:EDR), the UK focused energy company, is pleased to announce that it will provide a live presentation relating to the company's Interim Results via the Investor Meet Company platform on 24th Apr 2023 at 10:00am BST.

The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation.

Investors can sign up to Investor Meet Company for free and add to meet EGDON RESOURCES PLC via:






I guess most peoples question is why is everything so slow?

[rolo7] 28/3/2023 11:11

Expecting divided if all is well at wessell 0.25p fy