We have an amazing asset in France with proven gas and oil reserves. This asset is now being farmed out and I'm sure there must be plenty of interest for an appraisal project with very low risk and huge upside. A farmout to a large explorer would be fantastic. Proven assets in secure areas are becoming a rare commodity. Our licence has big enough potential to attract a major.
My thoughts are that it was some sort of company allocation that he hadn't taken full advantage of. This is of course presuming all the other BoD have. Anyhow, BoD we are all EAGERLY awaiting any news please do us the honour of sending some out. Ta
This law is kind of self governing where as the purchaser has to decide if they are at risk from inside dealing. Newsflow out of the company remit is not classed as inside trading unless the purchaser had different info to that of the market. If the purchaser is unsure then he must approach the chairman who will have the last word. A guideline of 1 month from SP changing news is suggested. It's a very grey area and unless the purchaser has been provided inside info in writing it's very difficult to prove. The key being I've seen quite a few small buys by BOD members over the AIM so I wonder if some pension law has been changed to allow them to buy at any point. The small amount of stock bought yesterday was not worth taking the risk.
Not so. If this were the case the flow would be in 1000's bopd. The largest is/was Welton which flowed at circa 3500 bopd at its peak (although initial flow rates were nearer 500 bopd). A better comparison may be Crosby Warren (which is geologically linked unlike Welton) which initially flowed at 400 bopd but then declined rather than built (unlike Welton). Other East Midlands fields such as Fiskerton and Scampton North also initially flowed at 1000 bopd. I do agree with Anthony that EDR will be keen to get good news out so would expect something to be said by year end - but I would still base any value added by Wressle on, say, 500 bopd (total) discounted by 50% for the risk of non-commerciality until this is confirmed.
RE: Directors buys
Hi Germansi, we have definately had the final processed data from Kosmos, this was back in April. My understanding, it is the final interpretation and prospect mapping which we are waiting on.... For the likes of Hugh who is a technical man, he would be able to make some pretty good assumptions of prospectivity, infact he has already told us "the prospect sizes will remain large to very large and the quantum of resources is likely to be hundreds of millions of barrels"
RE: EDR hit a duster at Burton
"In the meantime Egdon is progressing its plans to commence flow testing the Wressle-1 well in PEDL180/182 in Lincolnshire and we will update shareholders with results of this in due course."
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