I have been watching Egdon Resources for a while, and think they may prove to be worth an investment.

I like the idea of a British company finding oil and gas on UK soil, and as Egdon have a site at Waddock X, fairly close to where I live, I have decided to follow their progress.


Egdon has interests in 19 licences in the hydrocarbon producing basins of the UK and France, containing two oil discoveries and a further 48 prospects.

The Company's shares are traded on the Alternative Investment Market of the London Stock Exchange.




OIL AND GAS ASSETS

Egdon holds 19 licences, all of which lie within proven oil and gas producing basins and contain a mix of oil and gas prospectivity. The assets and technical management of the Company are divided into four geographically defined business areas; Southern England, Northern England (and adjacent offshore areas), East Midlands and France.





Company website : http://www.egdon-resources.com

queen1,

Well it certainly looks like it!

I know they are intending to drill soon, so maybe the price is rising in anticiption?

Well I'm starting to get excited!

I was listening to Radio 5 this afternoon and the Government's Chief Science Officer was on. He spent quite a bit of time discussing the inevitable gas shortages the UK is going to face which will certainly put EDR in a very favourable position.

This is good news:

Egdon Resources Plc ('Egdon' or the 'Company') is pleased to announce that
Dorset County Council have granted planning permission for the drilling of two
wells to appraise the Waddock Cross oil discovery in the PL090 licence within
the county of Dorset where Egdon holds a 45% interest. The first of these
wells, designated Waddock Cross-3, will target an elevated part of the structure
identified on the recently acquired 3D seismic survey. The well will be drilled
from the existing Waddock Cross site and will be the first well of a multi-well
programme planned within Egdon's operated onshore UK licences.

The planned drilling programme also includes two gas exploration wells on the
PEDL068 Licence in North Yorkshire at Kirkleatham-4 and Westerdale-1, and
potentially a second appraisal well at Waddock Cross (Waddock Cross-4). A well
to confirm the thickness and properties of the salt sequence at the proposed
Isle of Portland gas storage site is also programmed, although this is still
subject to planning.

It is anticipated that the programme will commence with the drilling of Waddock
Cross-3 in the fourth quarter of 2005. Long lead items for the programme such
as the drilling rig, casing and well heads are currently being tendered and the
Company will provide further detail on the final timing of the drilling
programme once these tenders have been evaluated and contracts let.

Commenting on the forthcoming drilling activity, Egdon's Joint Managing
Director, Mark Abbott, said,

'With the results of the recently acquired 3D seismic survey and the award of
planning permission we are able to look forward to meeting our objective of
realizing production from the Waddock Cross discovery in the near term.

'In addition this planning consent provides Egdon with a material well programme
enabling us to embark as previously stated on an accelerated phase of drilling
whilst making significant overall cost savings on casing, equipment and
services.'

Thread for the more intelligent.

https://www.moneyam.com/InvestorsRoom/posts.php?tid=8461#lastread

queen1,

I went to Waddock Cross yesterday afternoon, and no sign of any rig or site, just a couple of "site entrance" signs by a hole in the Hedge.

I rang EDR this morning, and they confirm they are tendering for the rig at the moment, and should drill in October, so I will drive past then.

They confirmed that the signs I saw are indeed the entrance to their site, so it's easy to find, just past Laurence of Arabia's old cottage actually!

Splendid! And what a marvellous day today. Where to next? Well the road ahead is long and empty, the sun is shining and there's plenty of gas in the tank :-)

And another cracking day. Pity more people here haven't woken up to the possibilities of EDR.

Queen1,

It's always the quiet threads that do well IMO.

The 'noisy' threads are where the "promotions" are!

I vote we keep this one a quiet one, for now at least.

Well it's still climbing so the quieter the better! Did you ever get in Andy?

queen1,

Sadly not yet!

A brief snippet from Shares Mag today.
===============================

(EDR:AIM) has sealed planning permission from Dorset County Council to drill a couple of appraisal wells on the Waddock Cross discovery.

The programme looks set to get under way later this year and should help the
firm turn the discovery into a producing field sooner rather than later.
and the company hopes that there is more to be found in the southern end of the basin.

Like you say, let's keep it to ourselves....at least until the price hits 1!!

Andy & Q1: How do you imagine you can keep this one secret after mentioning Laurence's cottage and so conjuring up images of Arabian nights and Arab oil. We are watching carefully and wondering if EDG can outpace our front runners, AEX and ULT. And as Kimmeridge is one of my favourite beauty spots, I might easily be tempted to back EDR as well. Meanwhile, will keep watching.
sd.

squidd, welcome! A slightly slower day today but still blue. It's been a marvellous week.

Queen1, squidd,

Here's the map of the area, showing Waddock Cross on the left hand side, and the road junction at Clouds hill, where Lawrence of Arabia's former cottage is located, on the right.

Thanks for the colour Andy. Well, EDR ran out of puff today which I guess is only to be expected. I'm hoping for more blue next week although feel we could stabilize around the 60-65p mark for a while.

Stonking day today so far and over the recent 60-65p range of the last 2 weeks. Is this the start of the next leg upwards?

queen1

No idea, but I will probably buy a few tomorrow or Tuesay, as I feel I should have a stake in a local oil and gas explorer, and there must be a decent chance of a find given the proximity to Wytch Farm.

Bought this one a few months back Andy. Cant see how you are going to keep it a quiet one as Evil K is buying by the lorry load. (star energy is worth a look at too)

Sees you when I get back of holiday. Good luck to holders and potential holders.

cheers GF.

Up again so far today. Definately something in the air. Get in while you can....after having DYOR of course!