Egdon Resources Share Discussion Threads

[ali47fish] 18/5/2023 16:39

anyone understands today's rns abbot ceo acting in concert!!!!

[currypasty] 18/5/2023 09:28

I wonder if the new CPR will be good....lol

[bomfin] 18/5/2023 09:18

Considering they've just relinquished the offshore gas licenses and the buyer will reckon they can make something on the top Wressle must be due an upgrade.

[markfrankie] 17/5/2023 19:02

Looks pretty cheap, but it's probably going to happen? Atleast edr assets will get fast tracked if it happens; great for ujo and eog.
~£28m repaid maybe over 48months????? With ~£5m cash... not a great deal for pi's But great for ujo

[gerhart] 17/5/2023 10:53

Lazy - I think - the bidder can't offer any less than they paid in last 12 months. But the bidder, big shareholder, didn't buy any during that time.

Got to be worth more than 4.5p now.

(interestingly another that TW was encouraging peeps to buy a few years ago at much higher levels. Financially in much better state now - yet here we are.)

[grannyboy] 17/5/2023 10:09

For EDR shareholders I think it's a low offer, but if they don't make an offer for EOG/UJO then we might see more action from the new lot which will benefit EOG and UJO?!!

[jpuff] 17/5/2023 10:07

So the share price has been driven downwards over the past year or two in order to allow a low ball bid to go through. This market is so corrupt but hey shareholders the bod will do very nicely out of it no doubt!

[lazygun] 17/5/2023 09:20

i thought any offer had to at least match the highest price in previous 12months?

l

[currypasty] 17/5/2023 08:49

"First thoughts indicate that an agreed bid from Petrichor Partners was ever thus and 4.5p is about as good as it gets in this stage of the cycle. A market valuation on exit of £26.64 is fair without being overly generous but George Yates has had better chances over the years and the massive success of Wressle has put the price up.

But Wressle, as well as other Egdon assets will slot into the PP portfolio and with its 43.79% holding in Egdon according to the annual report it is effectively game over at this stage.

It is undoubtedly excellent news for both Union Jack and Europa and I will hope to have thoughts from them later. For Harbour it is just a handy piece of housekeeping which Premier had hoped might have happened a long time ago. "

[jasper2712] 17/5/2023 07:36

Doesn't surprise me with this bunch of incompetents. There is one thing for sure -they will be given a golden handshake to get shot of them. That is why they era behind it.

[bean02] 17/5/2023 07:00

I'd vote for 7p

[gerhart] 17/5/2023 06:55

...and of course a fundamental thing that is always worth remembering, is this - no one ever offers to take over a company for charitable reasons. It's because they see an opportunity to increase value and make a healthy profit.

[p@] 17/5/2023 06:52

HEYCO Group believes the timing is right to acquire Egdon and take it private, as HEYCO Group believes that the public market continues to undervalue its assets, including the impressive Wressle development. Bringing Egdon into the HEYCO Group will create efficiencies, economies of scale, and, most importantly,

[gerhart] 17/5/2023 06:45

After investing so much time and money on Wressle alone, that it is now set to become a little cash cow, the BoD recommend a cheap offer for the company.

That's aside from the other irons currently in the fire....

On yer bike! We need a better offer, and clearly a better BoD. The current share price is so low partly due to the BoD.


(Fracking definitely off the table for now. But no one can say what might happen in even just a few years. We've seen how the world has been changed by Covid and Ukraine. Imagine US and China going head to head over Taiwan. But even technology can change)

[bean02] 17/5/2023 06:34

It's very cheap imo!

[kwizza] 17/5/2023 06:25

They have all been run down on the market price wise

[c2b] 17/5/2023 06:24

In which case what are Europa, Igas, UJO worth?

[rolo7] 17/5/2023 06:16

Only 14% of all shares accepted higher offer required

[rolo7] 17/5/2023 06:06

Cash offer 4.6p too cheap?

[jasper2712] 10/5/2023 13:04

The income from Wressle to EDR has had a negative impact on the share price!!!!

[currypasty] 10/5/2023 07:49

$15m revenue reached at UJO for Wressle