Hi MrB. There is a turning point for EDR looming so don't worry. The Wressle saga has been amplified due to the entire UK onshore O&G industry having to tick a few boxes to progress. On a good note that's the last of capped environmental legal challenges so no more unnecessary hold ups. FoE are trying to bring a JR on the matter but I can't see it standing up in eyes of a judge.
It's definitely disappointing but in a way understandable. 2016 was meant to be a big year but turned out to be a damp squid even though every decision went in our favor. 2017 has gotten off to a slow and poor start. But the next 2-3 months will have plenty of juicy stuff to reverse the decline. Luckily EDR has lots of cash in the bank (thank goodness CC was done before Wressle) and plenty of assets to ride the storm.
Crikey I didn't expect to see 10p again. This share is being hammered by several factors. The MMs have been dropping SP since 11th Jan with buys oustripping sells from 14p, lengthy time extensions on top of lengthy appeals for fracking and obviously the unfortunate Wressle decision. I'll hold on as the first few fracking wells are in sight and the Wressle decision is also going to be relatively soon. The HC decision for Cuadrilla is only weeks away now too. They said our A Prospect would… Read More
Anyone know why the spread should narrow so dramatically over the last week or so? I think I remember it recently being around 10%. As I understand it, spread is normally correlated with trading volume but surely the volume has not increased so much recently to justify such a narrowing.
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