China is on the horns of a dilemma with no good way out and is in no position to rescue the world economy like in 2008
I have no axe to grind here and the caveat is that the house broker is paid by the client to write research so it is not impartial. But the upside predicted here for Egdon Resources (EDR) seems enormous and VSA is more honest than most brokers (okay there is a low bar in that contest) and as a lower risk play on UK Oil & Gas (UKOG) ramping this may be of interest. Today's note reads:
I praised the way that Egdon Resources (EDR) raised money yesterday in my bearcast. For that reason alone I publish a note out today by its house broker VSA. Please remember that house brokers are as impartial about corporate clients as I am when writing about how crooked Hillary Clinton should be sent to jail with her rapist husband and whining brat Chelsea. Notwithstanding that minor caveat, the note has some real substance.
2015 was the year when (at least for now), I had to swallow my disappointment regarding there possibly not being 1 billion barrels of oil under Gatwick airport. But it was the year when the long awaited shale gas / fracking revolution looked to be finally getting underway. While there are doubts about the possible environmental effects, poisoning aquifers, and of course the not in my back yard syndrome, the fact is that The Treasury needs the money to fund money guzzling organisations such as the NHS.
Featuring Cap-XX (CPX), Castle Street (CSI), Egdon Resources (EDR), Mobile Streams (MOS), Northcote Energy (NCT)
Commissioned researcher Edison reckons that the recent deal with Alkane is cracking news for Egdon Resources (EDR) and that at a 27.3p share price this is a bargain. It reckons fair value is 67p – house broker VSA reckons 60p as you can see HERE.
Top resource broker VSA has initiated its coverage of Egdon Resources (EDR), following its purchase of Alkane Energy assets, at 25.5p with a buy stance and 60p target – this it argues is THE play on UK shale.
Egdon Resources (EDR) has been one of the highlights of the year to date among the minnows, and it would appear to be the case that despite the latest wobble in the share price this state of affairs is set to continue.
Commissioned researcher Edison has initiated its (paid for) coverage of oil minnow Egdon (EDR) with a detailed buy note suggesting that on a fully risked basis the NAV is 23p – the shares trade at 9p.
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