Member Info for taudelta

Hi Kash.. EDR does have both conventionals and unconventionals. Nothing the good lady said affects the conventionals (includes Wressle, Burton, P1929 etc). Agree that EDR's unconventionals are encouraged by her ... and also EDR is in the fortunate position that its unconventionals are not in National Parks (the main area, Gainsborough Trough, is in an old coal mining region), therefore the National Park safeguards don't apply to EDR.

Good news... the new rules published today apply only to unconventional assets... so they will not affect P1929 (although it will continue to have to respect the existing requirements for national parks)... here is the ministerial statement on the Dept of Energy website (right click then select search with Google then select first result)..... https://www.gov.uk/government/speeches/outcome-of-the-strategic-environmental-assessment

Hi Kash ... they do have attractive unconventional acreage in the Gainsboro Trough (mainly) and a bit in Lancs. Edison says this is worth 41p out of their total valuation of 67p (see Edison 30 May 2014 report). These unconventional (i.e. fracking) areas are not in National Parks.... I wasn't worried about them; rather, I was worried that the new rules for national parks would extend to conventional drilling. But see my next post.

Need to read ministerial guidance to be published today very carefully ... leak suggests ban on fracking in National Parks. The major "A Prospect" (P1929), which is swimming distance offshore is to be drilled slantwise from near the beach in the N Yorks National Park (of Sirius notoriety)... P1929 is a conventional gas asset... so we have to hope that any ban on fracking in national parks is "only" a ban on fracking and not a ban on all drilling.

trueg..... hi, ... I don't think there will be a hit to SP because: 1. it's all in the open. 2. it will be treated as an unusual item. 3. they have massive excess cash in the balance sheet, way beyond the court award

Hi Kash... I presume "independent" just means it's independent of LLOY, BARC, Goldman Sachs etc and they don't have a trading arm... because I'm convinced the cos that they cover pay them fees ... none of us does, so I guess that's how bread gets onto their table. For all of that, their research seems pretty good, and after all, who pays the analysts at a conventional brokerage research dept?

Hi Compadre... Like Burton more than Wressle as B is bigger. Biscathorpe bigger still but no planning permission yet and there will be strong local opposition.. hence I think no drill at Bisc until 2015, poss 2016. Don't have a handle on UJO's valuation, as have chickened away from its wild volatility! Also, UJO not involved in the attractive "A Prospect" or in the Gainsboro Trough shale. The free research from Edison on EDR (you only have to register and they don't pester you to buy upgraded service) gives estimates of unrisked and risked values for each asset.

... pretty good. FUM growth continues very strong.

pretty good

pretty good, what's not to like?

Hi Kash... it is a quiet share. Not sure how aggressively they (or others) will bid in new round as the latest BGS surveys did not show resources in place that were in the same league as the already licensed PEDLs, e.g the Gainsboro Trough , where EDR has a good position. In terms of conventional activity, after Wressle and later in 2014 Burton will be drilled ... and in 2015/16 we've got Biscathorpe and the "A Prospect" offshore N Yorks to look forward to... Have you studied the excellent Edison Research reports on EDR?

Could be an announcement soon on Labour policy for manifesto.... newspaper talk based on leaks from Labour circles is that the hard left want full re-nationalisation, which Milliband thinks would appear too aggressive, so he is planning a compromise policy whereby the state/government can bid for franchises... trouble is, the private operators may not care to play this game and may step away, there would thus de facto be a kind of back-door re-nationalisation (which would be a gradual process as franchises come up one-by-one).... a lot of potential operators are large outfits that can fry fish in other countries.

... I really like this. The hot money "shalers" seem to focus on IGAS, while the hot money "PEDLars" in the for Wressle and Burton news are focussing on UJO... ah the quiet life!

Agree, cm........ instructive to look at the year-to-date charts of the leading dividend-paying stocks on AIM, e.g. BRK, CLIN, JHD, NICL, PRZ, YNGA ... apart from Youngs, they all look horrible, all without much if any bad news. Re LFC wonder if we will land Lovren? .... for me it's the centre half element of the squad that most needs developing.

No, no news on Wressle... everybody is very focussed on Wressle as it's the first drill but think Burton more interesting... Edison values Wressle at 5.8p unrisked, 0.7p risked but Burton at 13.3p unrisked, 1.7p risked.... I'd like Wressle out of the way, as Burton won't start until Wressle completes (think they are using the same rig).

Does anybody have a view on why the DWHA to DWHT SP discount is always so high? Currently it's 37%... this compares with YNGN to YNGA, 24% and SDRC to SDR, 23%.

... GIIP disappointing compared to N of England.... could well be that the best UK PEDLs have already been pedalled and are firmly in the hands of IGAS and EDR ... enhances their investment attraction (to farminees as well as market investors).

agm presentation on fp website

Don't disagree... think they just saw the price as high, well timed ..... the whole AIM market seems to have peaked in early April, especially the larger cap issues such as JHD, NICL, BRK, CLIN. (And some key FTSE250 issues also, e.g. SPX, GNK)... all these without any RNSs to explain....

Agree with LS sale, shan.... Barca supposedly very interested, and would trade for Alexis Sanchez plus cash ... thought Sanchez was brilliant for Chile vs Brazil (although one of the penalty missers).