Member Info for Obadhia

....'results out in a couple of weeks' Interesting, what period would that cover?

Final paragraph in an email reply three weeks ago from BN, take heart or dismiss as you wish....... "This is a downturn and we are a junior like many others with less than 1000boe/day of production. For most, it's about survival not exceptional performance. I feel that we are amongst the strongest - if not THE strongest - junior E&P company in Canada and am confident that we will not only survive and thrive in this market but will soon return to newsworthy activities that will not only generate news - but significant shareholder value."

monkey-puzzle, tell me something which is not blindingly obvious to all shareholders and the very reason for posting. It's CHANGE that is required and weight of opinion, ie a united front presented by shareholders to hopefully make him re-think regular communication strategy. Silence never attracts fresh interest and new buyers and does zero for any momentum gained.

If you have concerns over issues ask Brad. The more shareholders query as to why there's been silence for over three and a half months the more likely he'll get the message that there's real concern over exceptionally poor communication. Disinterest is all it achieves. Why, for example, no encouraging positivity on the much improved Q1 netback situation, or fresh drilling plans to keep things bubbling along? Treated to once a quarter MD&A doesn't cut it for me and blackout periods imo over-used as a reason. Imminent Q4 results won't change what has happened, if Edge is ever to go anywhere we need a change of heart from Brad. BNichol@edgeres.com

Here's a few figures I posted elsewhere earlier this week. By Friday the heavy oil diff had improved to just $8.75 improving Edge's income yet more! With WTI at US$59, a heavy oil diff of $10.50 and an exch rate of 1.21 this equates to $CDN/bbl of 58.60. Deduct $7 for royalties and $15 estimated operating costs and you can see Edge enjoy a healthy netback of $CDN 36.60/bbl. Further allow $7/bbl for G&A and this results in cash from ops $CDN 29.60/bbl (£9.6K daily on 600bod) Interest only is paid on outstanding loan balance (Prime + 1.75% = 4.75% interest on approx $6.5m), roughly $25K per month, relatively negligible in the big picture. As a buy and tuck away stock for more buoyant times Edge has to be hard to beat and I suspect we've only a limited time remaining at the current low level.

Cashflow obviously funds production, reserves remain untouched 'til oil price recovers to a meaningful level and any acquirement of land/assets would be the result of a distressed sale price, a huge differential from commercial valuation in better times. Edge really do have the edge over many small Canadian oilers who face bankruptcy.

Results now available on Sedar

'taking your family on a trip to Kharkov Ukraine' where the gunmen struck kind of didn't realistically convince !! Think they over-played that one. Glad you've sorted it and can get back to accumulating :-)

Q3 plus 9 months trading news should appear tomorrow, expect and will settle for re-assuring news in this downturn rather than the sensational.

A personal message to Belgrano. Recvd an email, timed 11.34 today purporting to be from yourself, quoting your name as sender, advising you and your family had been robbed whilst abroad and asking me to send 'rescue' money to get you home. The integrity of your Hotmail address has obviously been breached, (not using that obviously, hence the message here) I'd be surprised if others on your contact list haven't received similar. Good luck.

That rise was on Friday smidsy, Canadian stock markets closed today (Family Day)

Yes Confounded, comical use of the word ‘we’ by TDG! He/She clearly doesn’t follow this stock very closely, but then those bothered at this level by half a pence are just traders. Investors will know BN is controlling costs relentlessly and successfully and produce positive cashflow down to WTI $32bod, as per advice in RNS 28/1. Regarding servicing debt, their bank loan is a revolving line so they are not required to make regular payments – it’s interest only and they have a $17 million line approved with about $6 million drawn at the moment. Their “friendly PI” loan requires no cash payments (it never has), as interest accrues on a non-cash basis. So EDG are not threatened by any near-term loan issues like many others will be. Should a placing ever be on the cards it would probably only be to take advantage of a quality asset that has become available at the right price and this should be viewed as very much welcomed.

Let's state the position correctly, Brad doesn't intend 'to pump as much as he can', there is clear mention in his last RNS that there is 100boed temporarily shut in which he can re-start at any time, his decision based on ruling market prices. He's an astute leader, at low low prices he'll extract the cashflow necessity, when prices suit he'll flow this reserve.

With oil hovering in the mid-forties and timing of any recovery pure guesswork Edge, like the majority of small oil plays, can only sit tight and pare G&A expenditure to the bone. Absolutely zero point in drawing down their available facility to drill, incur interest charges especially as we're on the wrong side of $10 per barrel currently. New wells can be drilled in 4 days when the futures brighter, more certain and confidence returns to the market.

Thanks for the personal note. I hope you are enjoying a nice holiday, as well. I agree it was a brutal end to the year and I’m looking forward to making some big, positive shareholder value moves in 2015 and beyond. Best regards, Brad An encouraging reply for all those sticking with EDG.

....like I said, too many EDG believers have lost faith this year and exited. We virtually have to re-build the PI shareholder base and to do that we need confidence to return to the commodity and regular comms from Brad. The first RNS should come end of this month, let's see how punchy that appears.

Brad has to raise his game this year, PR has been shamefully weak in between the mandatory quarterly reports and there's no doubt that silence invariably promotes doubt and disinterest. I don't totally buy into the blackout periods either, there's a stubborn lack of co-operation in seeing it from a UK investor's requirements and point of view imo. Too many EDG believers have lost faith this year and exited prior to the current oil price situation, which incidentally shows every likelihood of worsening further giving Brad greater cause to keep his shareholders up to date with how the company is handling the situation. So, goodbye to a truly dismal, stand-still year and here's to restoring a modicum of shareholder value in 2015. My HNY email to Brad will say just that, hope there's others delivering a similar message. HNY all suffering LTHs.

June 9th (Oh Happy Day) we saw 15.88, then the rot started setting in speeding up late June with a lacklustre presentation of our EOY results. We momentarily gained a little late July with Brad announcing the new credit facility, thereafter a slow death waiting, waiting, waiting for guidance as to the much vaunted capital plan that, in the end, was a casualty to world oil pricing. So, no new drilling whatsoever during 2014 despite the huge excitement of an 80 well runway - a year lost to the EDG investor very much reflected by huge paper losses. Present day it's now an understandable case of reducing and containing costs - WCS yesterday $39.11 compared to over $90 when the going was good - enduring the slump and endeavouring to prevail. I shall wish Brad a happy Christmas whilst also impressing that he urgently needs to raise his game when it comes to proactively communicating with UK shareholders (it's the UK that drives this share). Last year's offerings were abysmal, basically the minimum required by regulations, and had we had regular feedback, comment, overview of company's activities/progress we would, without doubt, not be sitting at what appears a grossly under-valued price with little to zero new interest being shown in the company. We all remember seeing posts such as 'if it falls below 10p I shall be adding big time!' and now of course at 4p how many takers have we seen. sfa. Spread the official word Brad, lengthy and time-consuming one to one email conversations are not the effective way to go. I hope others, like-minded, will press home the point. BNichol@edgeres.com re. constructive comment.

Fair post. I think probably all of us will be bitterly disappointed if within the next few days we get the Q2 results and MDA without reference to, and explanation why we've seen zero new activity this year. If the company is involved in ongoing discussions then a simple statement to that effect without giving any detail whatsoever will suffice for me. But to ignore shareholders concerns, and BN has to be now very aware of our frustrations re. lack of comms, would be a grave mistake and the final straw for some. Take note Brad.

Release could well be a repeat of Q1, ie via Sedar today, UK RNS Monday ... (my guess only)