This release was much better than anticipated. Plenty of cash in reserves, finances ticking over despite low oil price, exciting news coming up. Current capitalisation has zero shale discoveries factored in. Great buy.
Read VSA Capital's note on EGDON RESOURCES, out this morning, by visiting https://www.research-tree.com/company/GB00B28YML29 "As we have previously highlighted 2016 has the potential to one day be looked back upon as the year that kicked the UK’s shale gas industry into action. A number of UK shale players expect decisions to be made on their applications in the coming months, including the Springs Road planning application at the IGas (IGAS LN) operated PEDL 139/140, where EDR has… Read More
I would imagine the results will say it has been a tough period and they have used up fair bit of their cash at the bank. However, this is all factored into current low SP although it will probably drop further. Just sit back and ride these times out. Oil will rise further 2nd half plus some positive shale news is long overdue. Plenty of exploration still to happen.
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