Member Info for smidsy

End of March is financial year end. Wonder if Brad will give us an update as to current situation? It would be nice to know if we are keeping our heads above water and how Brad is coping with the current oil prices.

Sanlam Securities reiterated their under review rating on shares of Edge Resources (LON:EDG) in a research report sent to investors on Wednesday morning. Several other analysts have also recently commented on the stock. Analysts at Northland Securities reiterated a buy rating on shares of Edge Resources in a research note on Monday, February 9th. Separately, analysts at SP Angel reiterated a buy rating and set a GBX 12 ($0.18) price target on shares of Edge Resources in a research note on Wednesday, January 28th. Shares of Edge Resources (LON:EDG) opened at 3.75 on Wednesday. Edge Resources has a 52 week low of GBX 2.75 and a 52 week high of GBX 15.97. The stock has a 50-day moving average of GBX 3.62 and a 200-day moving average of GBX 6.69. Edge Resources Inc is a Canada-based company which is engaged in the exploration, development and production of shallow oil and natural gas horizons. The Company has three projects, namely The Eye Hill project, The Grand Forks project and the Edmonton Sands project. The Eye Hill project produced oil at rates of over 100 barrels of oil per day (LON:EDG), with decreasing water cuts.

The financial year ends at the end of the month. Last year, results were given in June. This years figures, I expect, will be interesting. Oil production up on last year figures due to opening the chokes, but sales figures down due to low price of oil. Profit to sales ratio should be a lot higher given that the low cost of water disposal will be having an effect. Income from piping other companies gas to market.

We must be one of the few who have 'all their ducks lined up in a row'. Brad is not retreating from the low oil prices, he is using them to strengthen the company. He is looking for cheap assets to bolster the oil production as and when the oil price recovers. With increased production without additional costs, more sales and more profits together with controlled overheads Brad can only be a winner.

From today's report. Management believes with its current credit facility, positive expected operating cash flows in the near future despite the recent significant decline in world oil prices and cash flows generated from its hedging program, that the Company will generate sufficient cash flows to meet its foreseeable obligations in the normal course of operations. Management has significantly delayed the Company’s capital programs until the pricing environment improves and has and continues to work on strategies to reduce general and administrative and operating costs subsequent to December 31, 2014.

Is there a 'government office' that records the amount of oil pumped each month from the returns made by the oil companies?

There was 21 trades yesterday in Canada. 171,450 shares traded and finished up 6.25% Anyone guess as to why the interest?

http://www.mining.com/canadian-oil-sands-producers-hike-output-despite-dim-crude-price-31389/

Low oil prices are even beginning to hurt Saudi Arabia, arguably the strongest global player to weather the oil price downturn. The Wall Street Journal reported that Saudi Aramco is cutting costs in line with lower prices, negotiating lower fees for everything from phone bills to major contracts with oil field service companies like Halliburton (NYSE: HAL) and Schlumberger (NYSE: SLB). It goes to show that even the world’s largest oil producer is feeling the heat, and is trying to find ways to make its operations leaner.

Wrong article posted although interesting reading. Correct one below. https://sharetipstersuncovered.wordpress.com/category/tom-winnifrith/

Very interesting article re TW. worth a read. https://sharetipstersuncovered.wordpress.com/category/daniel-levi/

31st. March is the end of financial year. Should be interesting reading. Last year the results were posted in early June. SEDAR shows that Henderson Global has issued another notice of possible sell of shares.

Quite correct Obadhia. Appointment booked at Specsavers. lol

is up 28.5%. where will it be at the close?

Last paragraphs taken from RNS. Brad intends to pump as much as he can :- Cash Flow: Current cash flow is expected to be lower than the previously reported quarter due to revenues decreasing faster than expenses. However, Edge will benefit from higher production, a lower Canadian versus US dollar, an improved heavy oil differential, lower G&A, lower operating costs and lower royalties. The Company will continue to focus its efforts on all opportunities to enhance cash flow. Brad Nichol, President & CEO of Edge, commented, "Our industry is facing an enormously challenging macroeconomic environment but we started making the right moves months ago; and thus, we are in a better position than most to capitalize on opportunities that coincide with all major macroeconomic events such as this. I'm referring to our expectation of seeing quality assets coming to the market in stressed situations and we hope to take advantage of those situations as best we can. As demonstrated in the table above, our Eye Hill asset has great economics at $90/bbl, $70/bbl and even $50/bbl, and we will continue to pursue the growth of that asset. However, this is the market in which strong companies should look to acquire heavily discounted assets versus drilling up their inventory." Nichol added, "The colossal decrease in world oil prices will hurt all oil and gas companies. Those that are prepared for the outcomes, as we believe Edge is, should benefit enormously and emerge from this downturn bigger, stronger and more efficient than ever before."

Yesterday there was plenty of trading in Canada with the SP finishing 14.29% up @ $0.08 108,900 shares traded.

Northland Capital reiterate a Buy rating @ 10p

(iii) fully optimise the producing wells, which have been producing at reduced rates since they were drilled. Extra oil at no extra cost. That's the way to beat the low price of oil.

I thought I would remind everyone that EDGE is not currently lying idle and waiting for things to happen. Brad is making things happen and I am confident that the next RNS will be another corker. :)) Eye Hill Facility In Eye Hill, the Company has drilled a water disposal well and constructed a 6,000 meter network of natural gas and water gathering pipelines, which transport produced water to a central water disposal facility and natural gas to a sales meter. The Facility will allow the Company to (i) drastically reduce the cost of trucking and disposing of produced water, (ii) produce, capture and sell associated natural gas from the existing and future Eye Hill wells and (iii) fully optimise the producing wells, which have been producing at reduced rates since they were drilled. The completion of the Facility is expected to add at least $1.1 million in cash flow in the first year, which is expected to increase in the future with additional drilling.

It won't stay like this for long. (he says tongue in cheek) How you doing my old mate. Not seen you around for a while? Regarding my posts. One has to keep the morale of the troops up. Can't have them falling by the wayside can we?