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Mogg?
he called the new PM a "socialist"
he told Bojo he had 120 MPs support
He's open to a job in the new Govt
The man is a disgrace
This news has ****ed me off....I could see him pushing the shale industry forward.... With realistic seismic event levels being put forward... Now we just get some Bloody tree hugger running energy department....
Who won't have the balls like moggee did has...not afraid to push things forward....this never really get off the drawing board
GL all LTHs
gg
"Good Info Grey Panther, do you know when that asset(s) for shares was and or what assets are they ?"
2011
https://www.egdon-resources.com/wp-content/uploads/2014/10/EDR_Final_Results_Presentation_021110_Final.pdf
Acquisition of UK assets from EnCore Oil plc for 39,200,000 Egdon Ordinary Shares
• Agreement on acquisition of EnCore (E&P) Ltd for £100,000 in cash
• Completion in August 2010 (post year-end) of farm-out of PEDL139 and P
Ok,
Good Info Grey Panther, do you know when that asset(s) for shares was and or what assets are they ? Have they any current potential (Wressle / Biscathorpe type)?
I agree Dartron, I think at this price somebody friendly buying would be good, I feel Egdon could probably do it from Wressle income but we will find out about cash in hand once the results are out (But may want to or need to keep cashflow for developing Wressle further and Biscathorpe if planning is given) and your other option of UJO, I think this would be better as it ensures a friendly and looking after their own and Egdons interest in Wressle. Egdon being the operator with the skills etc, If I was DB of UJO I would want to ensure that Wressle is not being operated by somebody else potentially calling the shots and a good % holding along with Egdon's BoD should prevent an outsider trying to take over the assets on the cheap.
If only I had £10 -£20M available, maybe next week lol
Now that UJO have announced a dividend and share buyback, it bodes well for Egdon and Europa. I wonder if Egdon could attempt a modest buy back, to offset the outstanding warrants. Perhaps they could negotiate to buy Harbours holding back at current price levels? Either that, or UJO could consider buying it, and hold around 10% of Egdon.
The Premier assets that Egdon acquired for shares were mainly conventional oil and gas UK onshore licences, possibly plus Ceres. They formerly belonged to EnCore Oil, who were later taken over by Premier, which is how Harbour came to be a slightly reluctant Egdon shareholder.
stake not stale - and the Ceres acquisition may have been involved...........
Harbour inherited their stale from premier who inherited it from someone else (?Alkane?). The original deal was EDR buying shale gas acreage from ?Alkane I think
It's so long ago, and so far away. For Harbour it's irrelevant - their share of the value is around £ 1.7 million - their own value is £ 3.2 Bn. EDR are in their Excel rounding error. Harbour don't explore onshore anywhere either.
Not worth the bother of selling but there's no point in buying more.
Well if Harbour has technically reduced their holding due to not taking up warrants or selling some shares off and thats going back to July, that seems pretty grim for Harbour. Either poor cashflow for backing up their investment or bad management etc. They could have reduced their holding around 9p not so long ago and still taken the warrants at presumably a lot lower price and maybe sold again about 6p ish. Something doesn't seem right or logical.
But at this extremely low current price based on Wressle alone, its still probably worth a go, in case Rushi pushes the fraking through at least on test sites etc. Maybe not worth the hyped 9p+ price but still say 6p is a fairer price than 3.3p ish.
But as they say DYOR etc.
Its cos of the warrants
The change in the percentage ownership is due entirely to an increase in the issued share capital of Egdon Resources Plc.In addition, due to previous increases in Egdon Resources plc's issued share capital as of the following dates, the resulting ownership percentage at each of the relevant dates was as follows:20 April 2020 - 14.11%01 May 2020 - 13.93%09 July 2021 - 9.31%21 July 2021 - 8.85%
Did you notice, this happened in July.
Harbour (ex-Premier) have reduced their Egdon holding from 15.14% to 8.85% which is quite a reduction. I wonder who bought the ca. 6.3% interest.
Interesting comment in an article in today's Daily Mail by journalist, Dominic Lawson, (son of former chancellor of same surname). Some of you probably already aware of Sunak's views.Dominic Lawson says Rishi Sunak was more in favour of lifting ban on fracking than BJ. If so, then one assumes that will remain and be renewed as policy - especially after vote passed again in parliament last week. (despite chaos)So EDR and others - get on with it! Show peeps it works and all can benefit in some way!https://www.dailymail.co.uk/debate/article-11347049/DOMINIC-LAWSON-Rishi-Sunak-real-Right-winger.html
Definitely a frightening outlook over the next few months, but I can see quite a lot of that coming true. Might need the silver stacker fraternity to trade during the apocalypse. Need for guns and food storage this time next year. (Really hope not).
World Wars have been started with not much more turmoil !! Happy Halloween 2022-2023
Not too far from reality unfortunately!
Just for fun. My pre - Halloween worst case calendar for 2022-23 darker scenarios omitted so as not to frighten the nervous…..
November 2022 – Putin again notes the vulnerability of U.K.-Norway gas pipeline to “accidental damage”. Europe fails to reach agreement on gas import price cap leading to price battle for imported LNG.
December 2022 – shortage of diesel due to ban on diesel imports from Russia and limited refinery capacity across Europe. Diesel prices rise about £2.20 a litre, concern about lorry delivery problems pushing up food prices and possible shortages in the supermarkets. Lorry drivers take industrial action due to rising costs.
January 2023 – 3 hour rolling blackouts of electricity due to import problems and high pressure system over the U.K. meaning both wind and solar combined contribute less than 15% of our electricity supply. 50% increase in winter deaths of the elderly due to cold homes.
February 2023 – crisis worsens with public unrest and widespread large public demonstrations. Consideration of a national coalition government. Cobra committee in frequent session. Emergency measures such as warm sanctuaries in libraries and town halls in frequent use.
March 2023 – gradual recovery as Spring approaches, government promises to foster development of shale gas portraying it as a new initiative.
I don't think they'll let Boris back in, can see either Morduant or Sunak coming in with my preference being the latter as he's said he'd support fracking. The issue with gas supply isn't going anywhere soon and with poor results being found in the North Sea there should be more emphasis on proven reserves onshore. Boris was originally given the go ahead by the people when we gave him a majority but he's a green eyed socialist at heart. If it takes the short term destruction of the Tories and blackouts around the country to make them realise they have to go all out on fossil fuel exploration then so be it.
JRM says I'm backing Boris.
https://twitter.com/Jacob_Rees_Mogg/status/1583372255496896512?s=20&t=28bAQROTfLXX0_zB-DZYTA
Toxic A.F.
Why are they allowed to select another PM,They have just proved that they would struggle to pick their nose. Thought we lived in a democracy?
If borris does run again,he's more leaning towards the green agenda with his wife pulling his strings AGAIN..
can see him and mogg been at loggerheads over this whole shale gas debate....
I think who ever gets in next,Tories are over with.. the in fighting back stabbing finger pointing...is just so out of control...the rise was good while it lasted... Never mind...
I bet when edr results are due in around two weeks time.... It be more about what they wanna do....and not to much what has been done and talked about for months before...
I looking forward to the update about bishopthorpe and the short hock up gas to grid pipe line at wessele...come on mark surprise us all for once lol..
GL all LTHs
gg
The lettuce has won!
Forget Truss (the lettuce will win), here are just a few news items relevant to the fracking debate….
1. China has today relaxed its COVID immigration rules which may well be a sign of relaxing the zero COVID strategy generally, this signals increased world demand for LNG with implications for higher gas prices in the U.K. and the EU.
2. Russia has fired a missile in the vicinity of an RAF unarmed reconnaissance aircraft in international airspace, in other words raising the international temperature yet again. How far is it from this to an “accidental” cutting of the U.K. -Norway gas pipeline which provides a major part of our gas supply. Putin keeps upping the ante and it’s dangerous.
3. The price of Diesel fuel in particular will continue to rise. Whatever the supply of crude oil, a major constraint on diesel supply is limited refinery capacity across Europe. Until now diesel has been imported in large quantities from Russian refineries but from the end of the year there will be a ban on purchasing Russian supplies, producing U.K. shortages which will increase inflation.
I am deeply disappointed that the Labour Party has chosen populism and polititical advantage over the needs of their constituents.
We definitely deserve better than the shambolic Tory party, unfortunately there is no opposition to speak of(100% green by 2030 Starmer -why not give yourself more of a chance and make it 2045pm).
Media is controlled by Klaus Schwab and the WEF. We're all being reset whether we like it or not! We are being conditioned to accept any crap we're given!
The media are certainly going all out to get rid of Truss,wonder who controls the media ?