"WTI $63.97 +24c, Brent $69.38 +23c, Diff -$5.41 -1c, NG $3.23 +10cOil rallied a touch yesterday after the previous day's technical drop ahead of the weekend meeting of OPEC and Russia in Muscat. After the close the API stats were very positive ..."
New acquisition of highly prospective and previously proven acreage. When previously drilled they were looking for oil not gas so left it, as so often happened back in the day.
Now gas is more highly valued than it was then and is the preferred discovery type. Cleaner than oil,.safer than oil.
Help make Britain less reliant on imported energy. BUY :-)))
"WTI $55.64 +$1.10, Brent $62.07 +$1.45, Diff -$6.43 +35c, NG $2.98 +5cOil was up over a dollar on Friday making the best part of two on the week. Another 50 cent rise this morning is getting people worked up about new highs and even big ..."
Malcy also says (after Egdon's latest decision to appeal again):-
"Egdon and partners have announced with no great surprise that they are appealing against the recent planning turn down at Wressle, all this huge cost all round is totally unnecessary but the process has to be gone through and it seems that the Councillors in Lincolnshire have money to burn "
Glad I'm not paying council tax in Lincolnshire!!
You couldnt make it up, only in an English County Council could a planning committee go against the recommendation of its own planning department and refuse an application that had addressed all the concerns previously raised. This means that the Wressle field and its important revenue will be delayed yet again whilst the Councillors raise a toast to their own importance
RNS today announcing that, in addition to the previously lodged appeal, a further application has been made which addresses all the concerns of Lincolnshire County Council.
Fingers crossed that this dual approach will result in a speedy resolution.
I was lucky, I got in, years ago at about 7p.
I'm sure many got caught out when the sp went up as far as 30p or so after the total deal.
Not sure we're headed back there any time soon, but you never know. Oil prices are bound to come back over the next few months as the World continues its relentless consumption of fossil fuels.
Eventually oil will become a dirty word but gas has a good future as a cleaner buffer between fossil and renewables.
Lots of talk about solar/wind pours scorn on them as alternatives because the rely on wind and sun to perform well, but, with the advances in battery tech (Tesla powerwall) the ability to store solar and wind generated power, this problem will be odviated.
So, Egdon should only be a short term play (say 2 or 3 years) before renewables really take off.
A, given all the good news around EDR at the moment I've no argument with the offer being just shy of the current sp. backed by the fact that they got a placing away at the same price, which is also good news.
The benefit of taking part in the offer is that the money goes direct to the company instead of going to someone selling their shares. (Double benefit there)
EDR has been jogging along steadily once the sp had settled down after the Total deal. But now they appear to be making good progress in their own right. Increased production will enhance revenue, recovery in oil price, which will come , despite recent setbacks will also be good for the top line.
What's not to like ?
Good luck, TP
Important message from the Financial Conduct Authority:
Posting inside information that is not public knowledge, or information that is false or misleading, may constitute market abuse.
This could lead to an unlimited fine and up to seven years in prison.
If you have any information, concerns or queries about market abuse, click here.
The content of the messages posted represents the opinions of the author, and does not represent the opinions of Interactive Investor Trading Limited or its affiliates and has not been approved or issued by Interactive Investor Trading Limited.
You should be aware that the other participants of the above discussion group are strangers to you and may make statements which may be misleading, deceptive or wrong.
Please remember that the value of investments or income from them may go down as well as up and that the past performance of an investment is not a guide to its performance in the future.
The discussion boards on this site are intended to be an information sharing forum and is not intended to address your particular requirements.
Whilst information provided on them can help with your investment research you need to consider carefully whether you should make (or refraining from making) investment or other decisions based on what you see without doing further research on investments you are interested in.
Participating in this forum cannot be a substitute for obtaining advice from an appropriate expert independent adviser who takes into account your circumstances and specific investment needs in selected investments that are appropriate for you.