Member Info for itsawrap

...did Egdon mislead us about the water cut?

Egdon RNS 03.08.23

"Limited volumes of water have been observed, with water cut averaging 3.72% of total field production during July 2023"

NSTA Data for June - 'Water Productio Volume (ksm3) = 14.7

There is this https://apps.northlincs.gov.uk/application/pa-2023-1101

I emailed the council regarding this EIA screening request as there are no documents attached and no end date. After a month I emailed again as I had no reply, they said they could find no application under this reference so I emailed again with a link to their own website - yet again they havent responded! anyway, it's my understanding that the screening request is a pre-cursor to a planning application. What bugs me about the pipeline element is that Egdon could have applied for planning well over a year ago - if they had we might have permission by now, it's always the same with Egdon, delay after delay, thank goodness Heyco is taking over

Here's a link for the North Lincs planning portal - any application for Wressle will show here

hTTps://apps.northlincs.gov.uk/search?status=2

Justbe, no idea personally but production has been 770/780bpd so even if it drops to 500bpd or 600bpd that is still great money for UJO, meanwhile we should have progress at Keddington in Q4 and of course the long overdue Bisc appeal result. We may even see drilling at WN in H1. UJO is far from a lost cause, plenty of cash, capex at Kedd WN and Bisc easily afforded. plus of course a nice chunk of cash for 17m Egdon shares due next month. What's not to like at 19p?

No buy-backs for 5 weeks - what are they waiting for???

Malcy said the interview is to find out more about the LNe deal - I doubt we will learn anything new, just lots more snake oil. if LNe receives permission from MASE they then have to raise Euro30m - that's a mountain to climb imo.

my biggest worry is the possibility that RBD exercises option 2 which means LNe has the choice of £1.8m cash or £1.8m in new shares, if they choose shares that's another 1.5 to 1.8 billion new shares! RBD said they expect permission by year-end but the option expires 30.11 so they may exercise the option without the MASE permission in place

Odins, these companies are a mystery at times, for example, Wressle hit the 500'000 barrels milestone earlier this month but not a peep from Egdon, UJO or Europa...they missed out on some good PR

Micky, DB is busy finding new ways to spin lack of progress for the Interims - must have been a ballerina in a former life

...we haven't had a daily pep talk from theaimcasino for a while, has he thrown in the towel?

Every day is a holiday for a swampy

I'm glad to see you have come over to the dark side heid :)

- early Dec. 2021 the sp plummeted to 10.5p - there was nothing wrong with the company other than lack of newsflow

- on 16.12.21 UJO issued an operational & financial update that propelled the sp to over 30p by early April

- as expected we have water at Wressle but it does not mean UJO is a basket case - far from it

Serif here's some analysis I did based on RNSs and NSTA data. the numbers suggest a drop in July - not necessarily permanent of course, perhaps they had downtime to fine tune the separator?

EDR RNS 24.02.23 - 357'838 barrels to 31.01.23

NSTA data

02/23 770.860 x 28 = 21'584

03/23 769.884 x 31 = 23'866

04/23 770.613 x 30 = 23'118

05/23 778.556 x 31 = 24'135

Total up to 31.05.23 = 450'541

EDR RNS 03.08.23 - 492'876 barrels to 31.07.23

conclusion: 61 days for Jun/Jul = 42'335 or 694 bpd

UJO RNS 14.06.23 - Oil production stable at approximately 780 barrels per day under restricted flow

"if" 780 bpd was the av. for June that would give a July av. of 611 bpd

NSTA data for June will be out end of next week 1st Sept., Wressle should be 750bpd-780bpd, however the one to watch is data for July which will included waste water for the first time. (I suspect July production will be down circa 10% despite "only" 3.72% water cut)

Another barometer for Wressle production is UJO's $1m RNSs, I expect the next one to be end of Sept or 1st week of October which will indicate a significant fall in production as Egdon has yet to implement external GTW or GTG

Still no planning application for the drill at Wressle or the pipeline, waiting for a decision on the EIA screen request before applying? MA should have applied for the pipeline a year ago - better to have it and not need it than to need it and not have it!!! ...rocket required

The takeover is by Petrichor Partners LP (owned by Heyco). I assume Egdon Resources will continue to exist as a legal entity for a while, ie a wholly owned subsidiary of PP - the operator license is assigned to EDR. Presumably Mark Abbott will continue in his role with the additional expertise, money and priorities of Heyco/PP

Europa £7m-£8m cash, mcap £11m vs UJO circa £10m cash, mcap £24m

very similar bpd - EOG much better value - back to 1.6/1.8 within months imo

Crazy sp but I don't mind, I'll keep buying at this price when I can

Rathlin is looking for partners to get WN across the line, all permissions in place as of yesterday, drilling can get underway within months once the funding is in place - RBD likely to fill any shortfall come December when they get a large cash payment from Shell.

Sorry heid, I got carried away, I didnt see your post!