The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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'Heid, what are your thoughts re Waddock Cross? do you think it would be a good move for UJO to buy a % from EDR? (they're looking for a JV partner)'
I would say David would see this as a good move. Egdon and Union Jack already have a proven record of success with Wressle and are now both reaping the benefits quite clearly. I am sure more drills would without a doubt appeal to David to continue to grow the portfolio of assets and increase the value an output of oil for the company.
Dave I absolutely agree - subject to a fair price of course, maybe even offset part of the £1m loan in lieu of a chunky %. I think in the absence of planning for Bisc and North Kelsey planning looking iffy (NK is still a farmer's field), the Wressle trio, Keddington & Waddock should keep EDR very busy. EDR will surely need more cash so a buy-in from UJO looks favourite imo.
Itsawrap - I think a buy in from UJO using the dept EDR has with UJO to Waddock Cross makes perfect sense, it's a win win for both UJO and EDR as it's drill ready with infrastructure in place.
Heid, what are your thoughts re Waddock Cross? do you think it would be a good move for UJO to buy a % from EDR? (they're looking for a JV partner)
* on their radar again and want in, especially with an asset like Wressle.
I am staying focused on how much more profitable Wressle could become with future drills from more proppant squeezes in the Pennystones and Wingfield Flag formations. The project can only become much more profitable as Brent Oil price will continue to rise over the next few years. The Pennystone Flags are the jewell in the crown. Union Jack will be banking multi, multi millions of pounds once we crack those open.
I look forward to hearing the news from our operator Egdon on further drills, who I must say have done a fantastic job. Also I understand that the site has only been shut in for a very limited time which again, is an incredible achievement with all of the works completed and of course maximises profitability for all partners.
Listening to Simon Oddie's interview was enlightening and I support using some of the profits that David is banking here for further drills at Wressle and else where . That makes perfect sense to me. I would also like to see some share buy backs an/or dividends at some point in the future.
Many Oil companies are hugely undervalued at the moment but once the realisation sinks in that energy companies like us are so profitable I am sure retail investors and institutions will have us on their radar again and want it, especially with an asset like Wressle.
Not forgetting our other assets Biscathorpe, West Newton , Keddington, Fiskerton, North Kelsey and our cheeky little Royalty.
Good luck to all shareholders. Very exciting times.
Micky - you aren't missing anything apart from mentioning that the share price is where it is because of unscrupulous person/persons posting about the last placing and thrashing the share price by 30% before the placing could be sorted. If it wasn't for that we would be sat in the upper 30's to low 40's whilst also taking into consideration the rejection of the planning permits. Always harder to climb up than be pushed off the edge of a cliff
The sp is total rubbish , not even half the consolidation SP , and with all the good news , Why . Oh where is the shareholder value positivity , am I missing something?
As positive as always, I really don’t know why you’re still here if you don’t think the company has the ability to make good on your trading losses. Surely you would be better of selling and looking for a trade that you think will help gain back your loss. And to be honest you would do us a favour not having to read all your negativity bringing misery to the board complaining all the time.
Given the very average SP performance on good news over the last couple of weeks I'm not sure that the CPR will have as great an impact as some think
The CPR can’t be far off now and with all the news so far relating to wressel, I wouldn’t be wanting to be out of this over the weekend.