Jitters Bit jittery on the bid this morning but moving up nicely & consolidating iro 12.5p.This company is actually producing oil with one well shut in until oil price picks up & high expectations of a commercial discovery at Wressle.
£60k buy @ 12p 16:35 Someone's confident. Bring it on, lets see 15p by Friday.
250k buy Nm
Re: Bottom Triangle 10.2 - 10.7 Read the edison note & look for the NAV valuations.
Re: Bottom Triangle 10.2 - 10.7 but why has it gone up suddenly
Bottom Triangle 10.2 - 10.7 [link]
Edison Note From Edison this morning:Wressle testing suggests a commercial discovery[link]
Time to buy [link] seems positive for the future, Big 10,000,000 buy on Friday, money flow says up. I bought into today to average down!
Re: laughton R, well spotted, was it working ?TP
laughton saw a nodding donkey.
Further testing at Wressle Hmm, total of 710 bbls/dayMore good news. Just need the oil price to go up a bit ( but not too much!)TP
Shale gas exploration can be environmentally sound [link]
Further results from Wressle Very promising !Regards, TP
Re: RNS Test results Last year Egdon rose to around 30p. (Can't remember exactly) on news it was taking the deeper part of Alkane Energy's acreage whilst Alk concentrated on the coal mine methane nearer to the surface. Since then it has all gone quiet and EDR has slipped back into the shadows. I agree with Iclaude that this is a slow burner at best and IMHO it will rise baick to the previous levels only when we have further news on the fracking Side of things and the price of oil goes back up.Regards, TP
Re: RNS Test results Likewise, I don't claim to be a professional investor but have been in the private investor bracket for some time. My thoughts are that the oil market is pretty volatile and whilst it is subdued at the moment, there will be a rise in prices as demand goes up. The testings at Wressle were already previously forecast as likely to be good and this confirmation is already built into the sp. There are other factors regarding Egdon that have to be overcome and when these are cleared, we should see a rise. 182 bopd is good but not earth shattering and if you take a look at others, who work the onshore business like EOG then there is a limit on expectations. Egdon has a finger in several pies and benefits from spreading the financial risk. My advice would be to wait for more news!