Friday, November 25, 2005 5:21:33 AM ET
Dow Jones Newswires
0909 GMT [Dow Jones] Egdon Resources' (EDR.LN) gas storage facility proposal in Dorset, UK, has been well received by the market, says Seymour Pierce, but if it proves to be unworkable the share price would register a substantial fall. Pegs risked net asset value at 213p/share, but points out core net asset value is only a fraction of the current market capitalization. Reckons the proposed storage facility could be worth 226p/share, while upstream oil and gas business "also offers investors' significant upside potential." Maintains buy rating. Trades unchanged at 96.5p. (DWE)
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