The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Sean Smith, Chief Executive Officer of Eden, said: "We are very pleased that Eastman has received authorisation for Cedroz as this will ultimately allow Eden developed products to enter into the Americas for the first time, where demand for more natural, biopesticide solutions is rapidly increasing. The market opportunity in Mexico is significant for Eden and Eastman thanks to the demand for residue-free fruit and vegetables by U.S. consumers.
Eastman will now embark on a roll-out of Cedroz in the coming year, which includes extensive live trials under local conditions to determine the best possible use of Cedroz in different scenarios and for a range of crops. Experience has shown that an extensive and controlled trial period is essential to the success of such a product launch."
Eden Research plc (AIM: EDEN), the AIM listed company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries, is pleased to announce that its commercial partner, Eastman Chemical Company ("Eastman"), has received full authorisation for Eden's nematicide formulation, marketed as Cedroz™ by Eastman, in Mexico.
Key highlights of the authorisation:
· Access now gained into the all-important US agricultural import market
· Approval is the first for Eden developed products in Mexico and a foothold into the Americas
· US imports of agricultural products from Mexico totalled $26bn in 2018
· Cedroz is formulated with Eden's Sustaineä encapsulation and delivery technology for its improved bioactivity, controlling volatility and advanced crop safety
Cedroz is an innovative and natural solution designed to fight nematodes, a pest that is known to cause severe damage to crops globally, in both open field and greenhouse production resulting in yield losses and increasing farmers' costs. Mexico has authorised the use of Cedroz on a wide range of crops, including tomatoes, potatoes, peppers, eggplants, melons, chili peppers, pepinos and squash.
The approval in Mexico represents the first for Cedroz, or any Eden-developed product, in the Americas. U.S. imports of agricultural products from Mexico totalled $26 billion in 2018, with Mexico being the largest supplier of agricultural products to the U.S. According to the U.S. Trade Representative, the leading categories of agricultural products from Mexico in 2018 included fresh vegetables ($5.9 billion), with the leading crops including tomatoes and peppers, along with other fresh fruit ($5.8 billion). Processed fruit and vegetables accounted for another $1.7 billion.
As Mexico is a large exporter of fresh produce to the U.S., this is a commercially important territory for Eastman who registered and will distribute Cedroz supplied by Eden.
Cedroz offers growers tremendous advantages by providing high levels of efficacy against nematodes. The active ingredients in Cedroz are exempt from residue limits and have very low or no pre-harvest intervals, giving growers the ability to apply the product just prior to harvest, providing maximum benefits and flexibility.
Cedroz is formulated with Eden's Sustaineä encapsulation and delivery technology, a proven system derived from yeast. Sustaine microcapsules are naturally sourced, plastic-free, biodegradable micro-spheres derived from yeast. The Sustaine technology has enabled the safe and effective use of Eden's registered active ingredients and those of third parties by improving bioactivity, controlling volatility and improving crop safety.
Heading to Warwick, ETA 21st March 2020...
Thanks.
Can you take a horizontal off it higher up?
Should we be worried by, "In the absence of OGA approval for the tie-in of the Lincoln Crestal well (205/26b-14), the licence partners will be required to plug and abandon the well before 22 June 2020 in line with current regulatory approvals."?
What is a "Sub-vertical well"? Just another name for a horizontal?
Apologies if already posted, but I notice that Crystal Amber Fund Limited (an AIM-listed activist fund investing predominantly in small and mid-cap UK equities) has increased its holding in HUR from 4.81% to 5.03%.
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I'm not sure if they have bought or sold any or, more likely, just crossed the notifiable 5% mark with the change in SP.
If they have bought any it would just be a small amount to take it back up to their usual 5%. If the SP goes up again we will probably get another RNS saying they are back below 5%.
Crystal Amber sold a few, probably to keep a limit at 5%
https://www.investegate.co.uk/hurricane-energy-plc--hur-/rns/holding-s--in-company/201912090700101212W/
Cheers Albi :)
bartlebobton
I think they did, yes, but I would have thought they would have another go with the pumps after the final clean up to try and salvage something.
I hope this hasn't been covered already but If the 1300 bopd was natural flow I’m surprised they have given up on it as with the rest of the clean-up still to come and use of pumps I would have thought there might have been the chance of commerciality.
I've bought some more at 36
"Plug and abandon"
I did wonder about that.
"We are pleased to have made another discovery with the Warwick West well."
I suppose that's all we need to hear and have to assume it is a commercial flowrate.
I'm surprised at that.
With giving a talk tonight you would think they would be desperate to release good/great/fantastic news.
If it was there.
They must have a good idea by now but maybe it is so good they don't want it buried in all the other 7am RNSs and are saving it for later in the day.
Bought a few more today at 44.35. Fingers crossed.
Albi
Yes, logically you are absolutely correct.
Did they release an RNS because they are very confident or have they seen the hugely positive rumours and want to prepare us for a problem with flow or oil type?
Obviously, I'm hoping for fantastic news but not until after my hols as I'm finding it quite tricky logging into my dealing site over here.
Jeez, so it was a simple typo, fluid instead of oil.
I am still uneasy about it, hopefully wrongly.
Move on.
Don't get me wrong, I've got a little bit of money set aside to buy more here on guaranteed good news but there is something in the wording of today's RNS that makes me feel uneasy.
Maybe the words, "fluid type" will come back to haunt us.
Fingers crossed I'm wrong.
Monday 7am is for the results RNS.
Anything earlier, I think, would be bad news.