Member Info for EFlammis

Ralph Findlay, Chief Executive of Marston's, said:

"I am delighted to announce today's JV with Carlsberg UK. This new partnership acknowledges Marston's strategy, position and consistent outperformance against the UK beer market, realising value for shareholders today, whilst retaining an interest in the future upside of the combined entity.

... A geochemical analysis of the gas data and hydrocarbons extracted from drill cuttings was originally commissioned by Union Jack and carried out by Applied Petroleum Technology (UK) Limited ("APT"). The results of this analysis show a hydrocarbon column of 33-34 degree API gravity oil comparable with nearby producing fields.

An assessment of the Dinantian oil volumes indicates gross Mean Stock Tank Oil Initially in Place ("STOIIP") of 24.3 mmbbls with an upside STOIIP case of 36 mmbbls.

Although the Dinantian is not considered to be the primary target, should there be effective permeability, or the presence of fractures within this section there is the possibility of a further commercially viable play being present within the Biscathorpe licence area that would add considerable resources upside over and above those associated with the principal target in the Westphalian reservoir.

Commenting, Mark Abbott, Managing Director of Egdon Resources plc, said:

"We are highly encouraged by the post-well evaluation of the Biscathorpe project area which has now benefited from an integrated assessment of the 2019 well data and reprocessed 3D seismic data. This work has concluded that a potentially material and commercially viable hydrocarbon resource remains to be tested.

Having retained the wellsite, the JV has maintained its optionality to pursue a cost effective side-track to test the resource potential of not only the Basal Westphalian Sandstone play but also to appraise the oil column demonstrated in the deeper Dinantian Carbonate reservoir.

I look forward to being able to update all stakeholders as we progress our plans for this potentially significant oil accumulation."

Biscathorpe Assessment Demonstrates Significant Commercial Upside

Egdon Resources plc (AIM: EDR, "Egdon") is pleased to provide an update on the Biscathorpe Project in Lincolnshire Licence PEDL253 where the Company holds a 44.75% operated economic interest.

Highlights

· Economic modelling indicates a financially robust project even in the current oil price environment
· The principal Westphalian target has an estimated un-risked gross NPV(10) of £55.6 million
· Break-even full-cycle economics estimated to be (NPV(10)) US$18.07 per barrel of oil
· A 57 metre oil bearing section in the Dinantian Carbonate of Biscathrope-2 represents a secondary target with potentially significant commercial upside
· Future identified drill targets are accessible via a side-track of the suspended Biscathorpe-2 well.

Biscathorpe is located within the proven hydrocarbon fairway of the Humber Basin, on-trend with the Saltfleetby gasfield and Keddington oilfield (Egdon 45%) which produces oil from a Carboniferous Westphalian aged reservoir, the principal target at Biscathorpe.


The PEDL253 Joint Venture partnership has now completed extensive and detailed studies of the Biscathorpe project, including the reprocessing and remapping of 264 square kilometres of 3D seismic. This work has been integrated with the results of the Biscathorpe-2 well, resulting in a significantly improved understanding of the prospectivity in the Biscathorpe project area. The results of this substantial piece of work have concluded that a possible material and commercially viable hydrocarbon resource remains to be tested.

Accessible target areas have been identified, where evidence for a thickened Westphalian sandstone reservoir interval is evident on the reprocessed 3-D seismic. These areas can be targeted by a side-track of the existing Biscathorpe-2 well which was suspended following drilling operations in 2019. The side-track will also target the oil column logged in the underlying Dinantian Carbonate in Biscathorpe-2, as detailed below.

The gross Mean Prospective Resources associated with the Westphalian target area are estimated by Egdon to be 3.95 million barrels of oil (mmbbls), with an upside case of 6.69 mmbbls. Preliminary economic modelling demonstrates that the Westphalian target is economically robust in the current oil price environment with break-even full cycle economics estimated at US$18.07 per barrel and an NPV(10) valuation of £55.60 million.

The Westphalian objective was absent at the Biscathorpe-2 well location, however, a total of 57 metres of oil bearing, Dinantian Carbonate has been confirmed by petrophysical analysis. Hydrocarbon shows with background gas and sample fluorescence were recorded across the entire section from Top Dinantian Carbonate to the Total Depth ("TD") of the well (an interval of over 150 metres).

A geochemical analysis of the gas data and hydrocarbons extracted from drill cuttings was o

It’s on the VOX MARKETS app. Get that, get RNS alerts as they are released.

the Board has decided to cancel the proposed interim dividend, saving £0.7m of cash.
The Group currently has £16m cash headroom, a strong relationship with its bank, Barclays Bank Plc, and a supportive founder and major shareholder, Tom Joule.

That’s great, I can listen to that no probs. Similar sound to Pearl Jam.

UJO RNS (holds 27.5% interest) anticipates circa 500 barrels per day. They also have £6.2m in cash and no debt.

Quite happy they have said If this carries on for the next few months it is unlikely that an interim dividend will be recommended in May, retaining c.£20 million in the business.

One of the items in the RNS was: Working capital, including stock levels, is being managed very tightly.

I wonder how that £6m emergency hard Brexit estrella damme lake is looking?

Marston’s, stockpiling since May 2019.

I’m feel sick.. I’ve got 10,000 shares at avg £1.14 but this holding only makes up 25% of my portfolio which was 45% down this morning.
Never dreamed it would get this bad and I fear it’s going to get worse if the country goes into lockdown. I know everyone is in the same boat. If it goes down to 50-55p I’ll be looking at getting another 2,000 shares.
Has anyone got shares in Andrex? Haha, if you don’t laugh you’ll cry.. luckily there’s no skyscrapers around me to jump off.. We’ve just got to ride out the storm I guess.

As a local, I as well as many others fell for the charm of these Snake Oil Salesmen at the events in local village halls over the past few years.
They really did take us for village idiots, milked us for all we were worth then rode off into the sunset with their saddlebags full. I think now this mine will be hated by many locals for many years to come.

Awfully nice of Santander to lend us €5m. I bank with them, they’ve probably plundered my savings account for the loan money.

Eventually, got 3000 shares at 105p. Let’s get back up to 130’s now!

A transfer of wealth going on here today. Seems to be lots of small sells and a few big buys. Shares bought currently higher than those sold too.

Nice , £240 waiting in my share ISA this morning, will add around 105p if it gets there.

I remember’t days when we didn’t even have a road, just a track and a handful of hot tailings from a hole in the ground covered by a sheet of tarpaulin, But you know, we were happy in those days, though we were poor. But you try and tell the young people today that... and they won't believe ya'.

I don’t get it either fairdealer, like gaspunter says, we are getting rid of the poor performing pubs and targeting debt. Yes minimum wage is going up but that’s for every other business too, we’ll just just have to raise prices like everyone will have to, the only winner is the govt reaping more income tax.
I see lager sales are down, I wonder how much of the brexit Estrella mountain is left to sell..

I hope to get 3000 more shares at 105p, that’ll take me to 10,000 shares at an average 114p then just hold for the dividends.

Just picked up 3000 at 111.410p.. I paid 118p for 1000 the other day. They may drop further but they will recover. I held 28,500 shares until not long ago. Was getting some good divi’s. Scary times when so was below a pound though. I sold all the way down to 500 shares at around the 130p mark. Now trying to rebuild my holding. Unfortunately put £8500 into SXX, I got about £4000 back. Recently bought into Joules and Fevertree on their recent drops. MARS divi payment on Monday, can’t remember how many I was holding at time of ex-divi, looks like I’ve already spent that today!

7p to buy now!

So they had been in talks for nine months. Yet just four months ago Christopher Fraser bought 250,000 shares on the 18 Sept 2019 for 4.01. Obviously he didn’t know they were going to be worth 5.5 four months later...