Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Decent stock to be invested in. Making money from conventional operations, paying down debt, and getting on with the job in hand. Progress on the Resolution field just offshore would light the "blue touch" paper, I think, as upward share price momentum continues this morning.
Good Luck to us all.
Hi HDT. I'm also invested in UJO and Europa, and have a slightly larger stake in UJO than I have here. This is partly because of UJO's 40% interest in Wressle compared with Egdon's and Europa's 30%, plus the potential upside in UJO's 16.67% interest in West Newton. I reckon Egdon is most conservatively run of the three companies, and they appear to have quite a lot of shale gas licences which could come good, but IMO only in the fullness of time. For me, one of the biggest issues with Egdon has been their controlling shareholder who doesn't seem to act like most institutional holders, but is maybe a "friend of the Egdon management", at least as far as I can see. However, the Egdon SP has started to motor this last week, just like IGas has over a longer time frame, so who knows where the Egdon price might end up if fracking gets the nod from the next PM.
Cheers GP,
I agree much too hot today but I will do my usual and a bit more research, I'm just being a bit lazy.
once the sun goes down I'll get my pen, paper and calculator out lol.
The timescale is a concern as always with everybody. Looking at their employees numbers and the work being done at Wressle over the next 2-3 quarters, I'd imagine that they wont be able to do much currently.
It does look like the have a partner for some of the shale gas licenses (Igas Island Gas Limited), they Igas have absolutely boomed this year from 13.25p to 73.44p (+439% over the year) they do seem to have a few more operations and a processing unit etc but market cap was small 12 months ago to now and similar to Egdon.
Interesting sector all round at the moment, too many options and not enough chunky money to cover them all. lol
I think currently with basic small research, hold the Egdon and find some chunky money !!
I'm sorry HDT but it's difficult to answer all your queries without writing pages, and it's much too hot for that today. Can I suggest that you do a bit of research yourself by taking a look at Egdon's latest annual report (I know (it's only to 31 July '21) and look at their list of licences. If you eliminate those where they have already done conventional oil or gas drilling before now, the remainder will mostly be shale gas / potential fracking sites. As far as I know, Egdon or thier larger partners have no fracking equipment on any of them, so IMO any operational progress will be many months (more like years) in the future.
Hi GP and any body else with relevant knowledge,
Ok, SP still up and I've not sold any yet. Bit busy at work really to get a chance to see what's happening.
So do you know, or anybody else on this BB, the Fracking sites that Egdon currently have licenses for etc. Do they already have equipment on site, If so how quick can they get up and running to produce gas given a green light.
If not on site how long would it take and how much will it cost to get a site operational with staff and equipment etc
I believe the Quadrilla site in Preston area has been moth balled/ stripped down, but I'd imagine this could be back up and running again within months.
So basically is Egdon in a position short <6 months, Medium 6-18 months or long term 18 Months plus to get some of their licenses producing ?
I'd imagine operational staff may also be a problem to get and or train up for this type of specialist job.
Any constructive views appreciated.
Use the profit to pay your bill?
Yes for the company's share price but how does that help with my gas bill
Huge upside here if fracking gets the green light
If they did start fracking, would they not be selling the gas at open market? Doesn't really help with the gas bills.
HI there HDT. I'm hanging on to my Egdon shares (for now, anyway) because I think there's a lot more mileage in the SP with the on-going fracking debate. Also, at today's 5.0p, the 2.5p warrant holders who participated in the June / July '21 placing at 1.25p will have seen the value of their warrants jump sharply too. Although they have until mid 2023 to exercise their warrants, I wouldn't be surprised to see some holders converting their warrants well before then, and this would put further cash in Egdon's pockets which I'dexpect them to use sensibly.
Well I take it back,
looks like it is about the Fracking.
It looks like my doubt has shown to be wrong and I hold my hand up in error.
The next PM candidates are both backing Fracking if local communities want it (I didn't think they'd show their cards yet)
I'd imagine most will want it when they get a taste of the increased fuel bills and an incentive to vote in favour of cheaper gas in their area.
Well done all who are in Egdon and others with potential fracking sites.
Now then is it worth taking a bit of profit or holding on?
Fundamentally Egdon is still a good business with lots going on so the upside is still favourable.
Decisions, decisions.
Thank you Liz Truss. The buyers yesterday must have been at the Telegraph hustings.
I don't know what what IGAS has done this week, other than enjoying a decent rise in their SP, which is great for their shareholders. However, all the Wressle partners are up today, but Egdon and IGas do seem to be moving in tandem. Because of thar, I'm inclined to think that' it's most likely to be shale gas / fracking changes related.
It's moving because of what IGAS has done this week. Obviously.
Same here, no real ideas. But gut feeling (because that's all we have at the moment)
For a SP to jump that much that quickly with no official news, often means unofficially there's some news or rumour convincing people to buy in advance.
At time of writing: Trades 63, Vol. Sold 527,389, Value £24,028.67, Vol. Bought 1,867,013, Value £84,278.74
So not big big money, but the shares in the company are quite tied up with big holders etc, I think around 45%-50%.
So to make a move up or down could be quite erratic to the SP.
as GP suggests it might be to do with Fracking and next PM, but I think the announcement will be buried until one of them actually has the job (to risky to hold your hand up before the job is given)
It could be more developments at Wressle, but that's ongoing and should be boosts to Egdon and Union Jack as well and we all know David at UJO would be the first to shout if that was good news.
It could be new people at P1929 and P2304 containing the Resolution and Endeavour gas discoveries. That would be very nice indeed and possible.
North Kelsey is planned for October and again with 50/50 with UJO they would have made an announcement.
So us small people will have to wait a little while longer, but fingers crossed.
Remember Blue Horseshoe loves Anocotte Steal. !! lol
I'm holding for a bit of real news and hopefully not missed the profit taking.
I've no idea ewhy our SP is up by nearly 18% today. However, our next PM will be either Truss or Sunak, and both are reported as being pro-fracking. So I'm wondering whether the winner might try to re-introduce fracking in the UK in an attempt to reduce gas prices. But even if this were to happen, it obviously won't have an over-night effect on the price of gas, of course.
Ujo up too, no idea, or an update forthcoming with Wressle
Hi there,
Any rational for a near 20% jump up today?