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Hopefully we should get an update on Wressle
Notice of Results
21 April 2021
Egdon Resources plc (AIM: EDR, “Egdon”) can advise that the Interim Results of the Company for the six months ended 31 January 2021 will be issued on Tuesday 27 April 2021.
A results presentation and business update will be available via the Company’s website.
Good find Serif...so can't really be too far away.
Worth looking at the Egdon minutes from their community liaison meeting on Wressle on 3rd March. They confirmed that the oil was flowing roughly in line with testing levels (which fits nicely with the capacity of the 3 tankers a week reported regularly on Twitter by protestors). They also propose organising the next liaison meeting for about 6 weeks time when they would be getting ready to go ahead with the squeeze. So at the start of March they seemed to expect permission to come through anytime now - but I haven’t seen that a subsequent meeting date has yet been fixed.
Useful link on Drill or drop S.N. , but it underlines the misleading ( not fully informative) RNS we got in January, - ashover grit perforation was mentioned , but not proppant or pumping , so did have some misgivings about the 500 bd . Still holding though, and try to put away for another month. I guess we wont hear much about North Sea asset investment until Morocco is sold.- hopefully later this year. If they could at least tell us about the Wressle well survey ( for pennistone) that would help settle things. If I hear anything back from OGA before its made public, will advise .
An interesting read, good find. I wonder if the EA ever distributed another Wressle News Letter in February as promised , that report was January. If they didn't , I wonder why not.
DrillorDrop from January. Not that I want to promote this site because it presents a very one-eyed view in my opinion, but some useful information is included.
https://drillordrop.com/2021/01/12/wressle-frack-plan-still-in-draft/
@brezhnef I hadn't heard that roughly 3 tankers a week were leaving the Wressle site.
Well at least that is some additional revenue for Europa, which will help pay for the BOD very nice salaries!
Good that some Wressle oil is being produced and oil price holding up, but frustrating this proppant OGA licence. On planning appeal decision Jan 2020 I read that ENV agency had no obection to the production plan, and that proppant squeeze was not considered to fall within the anti-fracking rules . So I dont understand why its only recently this additional licence has been referred to. Of course no information form EDR UJO or EOG. just great! Useless. Disingenous- a great word I keep having to check the meaning. Although I don't expect a reply for a month, I have today e-mailed OGA under freedom of information request- see their web site--
"I understand that Egdon Resources PLC the operator has submitted a Hydraulic fracture plan for the proposed proppant squeeze at the Wressle 1 oil well site
I understand that before this operation can go ahead, the Environment Agency (EA) and Oil & Gas Authority (OGA) must approve a hydraulic fracturing plan (HFP)
Can you please confirm
1. An application for an OGA licence for a HPF has been submitted by Egdon Resources
2. The factors for the licence to be considered
3. An estimated decision date for this matter "
I do hope that the operator can be more forthcoming on news, and GLA
I agree selfish. No point releasing figures on wressle. We know oil is flowing and roughly 3 tankers a week are leaving. There seems to be no rush on the proppant sign off. There seems to be no rush on sign offs for Ireland either.. All very frustrating. I did expect more news on the N. Sea appraisal asset tho. The wait continues.
@SelfishMcNimby
That is a good point but if it's with the caveat that 80bopd will increase once the proppant squeeze takes place then hopefully this should negate that possibility because we all know (most people) that the flow rates will be lower until the proppant squeeze takes place.
They really need to give more frequent updates we have all seen this with Europa over the years, very little is announced; and when an announcement comes it's usually negative! May the adage "no news is good news" indeed applies, as you say.
We need something soon, that's for sure!
IMHO
If you want to see what news does flick on to the 5 year chart above.
July 2017,
Wressle drill refusal, appeal to be launched
Due to drill Holmwood Weald Basin, 5.6 mmbo
Drilling operations due to take place in the Porcupine Basin Ireland
Present production from wells 123 bopd.
Share price 8.785p
Before anyone suggests that was all BS , well it was but it was news.
No news , dipping at 1.45p, and I know the dead wood has gone but where is the new growth, that's what this Company is sadly lacking, or shall we just keep blaming Hugh, the POO, the greens, politics, covid 19, etc.
Good job we can see both sides of the coin though when it comes to opinions and don't get abusive. GLA as usual.
Further to my last post, if they were to announce current flow at 80bopd, which it may well be without the proppant squeeze, the share price would tank. So in my view, no news is good news.
Tovoc, I understand that Egdon, as operators, are still awaiting OGA sign-off of the proppant squeeze which would take production to 500bopd. Meanwhile, the well is undergoing normal clean up. Egdon will announce OGA sign-off once it's received, but they are not able to give any idea of when this will be.
This is madness they need to issue some statement to steady the boat; even if it's to the affect of no change; something is better than this deafening silence. There must be some news from Wressle, release some data on the 24 hour monitoring that has been taking place; some news on the acid squeeze, still waiting for...? needs to be done after...?
Something is better nothing.
IMHO
It's called business as usual, I'm afraid. Simon and the team sink back into their armchairs with their cigars and port to contemplate tactics for the next placing. Perhaps slightly disingenuous, but it certainly seems that way.
was so lively last month and now so quiet and sp drifting ?