Member Info for reaction

About $2000000 (2 million) a year from Wressle to UJO as things stand. ;0)

Very happy with the deal. It is very important that our partners are fully funded to move forward. Pleased to see our monies being put to work for a competitive return. Fabulous security on the loan.
It is so refreshing to see UJO and EDR working so closely an fairly together. I like this.
All moving along very positively and constructively. Excellent 10/10.
Good dancing partners.

https://www.youtube.com/watch?v=_PLq0_7k1jk&ab_channel=RoyOrbison

Very positive and encouraging to see brent continue above $46 this morning.
Wressle news very soon I would think. That will put the sp straight back up again and then some. 200 bopd to UJO initial production.
I am genuinely very sorry for any body that has found themselves spooked/suckered out of position on to days update RNS.
The update bodes very well imo.

This looks/sounds like a massive gas field to me.
Pleased to see that we continue with a side track at WN,armed with lots of new well data. GSA and spur and a very large gas metre, wont take long when we look to commercialise all the discovered gas to date.
Plenty of local infrastructure and gas lines/gas processing to hand.
I so anticipate that flare stack igniting at WN B-1. When they book all of this as reserves it will move our sp up substantially.
No brucie bonus as yet. But I am very pleased with the way the gas (main objective) is going.
I know the sp is crap. But the fact is I am very happy and even more confident this latest well data/ update will show the gas field is massive. Very much looking forward to the results with justified confidence on to days RNS.

It's so quiet. Hardly any trades. Everybody just waiting on the edge of their seats.
We know the tanks are installed and electrics progressing well at Wressle from the tweet a few days ago.
It's all on track and should be good to go very soon.

"We continue to make good progress with the Wressle development, in line with the expected timeline, despite the challenges of the current operating environment. The commencement of the site reconfiguration works represents an important step in the progress to first oil which will increase Egdon's production by 150 barrels of oil per day. Wressle is economically robust with an estimated project break-even oil price of $17.62 per barrel.

We maintain our guidance of first oil during H2 2020 and will continue to update stakeholders as works progress."

For further information please contact:

Egdon Resources plc

Mark Abbott / Martin Durham 01256 702 292

I do wish people would show a bit more resolve and stop selling this down.

Oh yes ! Jimmybob, and we shall be able to feed a lot more than 5000 that's for sure.
I hear rumours some like them in oil ! lol.

Herrings for tea then.
Must be close to the Hydrocarbons by now.

I wonder if UJO are going to re brand. Think the Twitter notice was pretty generic/could cover a lot of things, pinch of salt on that red herring. imo.
So cash rich. great assets. Lots of news due.
Just want that flare stack to ignite. "COME ON" !

Well the general consensus seems to be that Wressle is worth $1.5 million a year to UJO or there about's at $43 dollar oil.
I personally believe that will give us an overall sp of 0.30-0.35 DYOR, possibly more with good sentiment and so on.
There are those that say it may not flow. I say/believe it will ! imo. I do not think the partners would have fought so hard for so long with all the legal battles and so on if they didn't have absolutely every confidence in the field.
I think an RNS this coming week on one of our projects is very likely.
Wressle is going to change this company once and for all. AIMHO

Once traders have gone hope to see us rise on the oil price/their exit also. Still good to see a little bit churn. All very positive. GLA.

Gwynwin, Yes done the pay roll for this week. You owe the company a grand :o)
"And I am unanimous in that" Good luck.

That should be an over all sp of 0.20 for Wressle alone imo.

spike501 Yes I was mistaken. I have posted nothing for any body to "lap up" as you put it. They were my back of a fag packet calculations as stated at the time. I am not a mathematician. I am disappointed my calculations were incorrect. But this is a blog board for learning and sharing information. I am happy to be challenged on my figures for my own benefit as much as any body else. I can still see Wressle being worth 0.20 to our sp when on production. As they say DYOR, But that is still a good uplift from here.
I invite you to offer a constructive view of what Wressle may be worth to the sp. I will not hold you to it of course if you do have any thoughts. You seem to be very angry. Blimey my calcs were off but we should still see a good uplift imo.
Stay safe.

Sorry my mistake that is $1.5 million of profit we can use in our forward PE calculations not $2 million. It soon will be though the way the oil price is rising. I was using the the gross and not the net profit. I will go and make an omelette.
I will hold my hands up.

Sorry my mistake that is $1.5 million Dollars of profit we can use. I will go and make an omelette. Will be $2 million soon enough at the way the oil price is rising though.

Yes and looking at just the profit element it could well be heading north of $1.5 million dollars per year. Looking good.

Good to see Brent crude at $44.84 this morning.
$44.84 x 200 = $8968 per day x 365 = $3,273,320 or £2,473,749. That is near 2.5 million we can use in our mathematical PE converter.

Hello Heid, Not concerned for my part. I fully believe we will produce the 500 bopd. Just don't want to appear arrogant in that belief. Great to see Brent crude at $44.68. 100% believe in Wressle.
West Newton is going to be the main event of course.

Fantastic enterprise value
So under valued
So over sold
So below forward PE just on Wressle
oil price climbing $44.68 just now
And the list goes on and on.

Don't any body let the spoilers brainwash you out of position.