http://gcaptain.com/million-cash-paid-release-c-retriever/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Gcaptain+%28gCaptain.com%29 The joys of working in Nigeria. Maybe Sir Offor organises security for our guys out there.
30 Oct '13
“However, the cautious approach to restarting operations should bode well for performance when production is restarted with the latest guidance being prior to year end. “We expect patience to be rewarded first by the onset of shut-in production and then via the rapid ramp-up to highly material volumes and cashflows from the low risk development wells.” McGeary adds that operationally Eland can achieve significant momentum next year when a six well campaign – targeting 54.2mln barrels of reserves - kicks in. Northland rates Eland as a ‘buy’ with a 161p price target, nearly 60% above the current price of 103p per share.
30 Oct '13
Investors in Eland Oil & Gas (LON:ELA) will be rewarded for their patience, according to City broker Northland Capital. Eland is on the cusp of starting production at the Opuama field in Nigeria. First oil was previously anticipated this month and, two weeks ago, Eland said it was confident this crucial milestone would be reached before the end of the year. While the pace, set by the company’s Nigerian partners, has fallen behind schedule, the considerable project will deliver significant value and will be a catalyst for the company to grow further. In a note issued on Wednesday, Northland analyst Andrew McGeary said: “It has been a frustrating year for Eland’s management that has had to adapt to the pace of national operator, Nigeria Petroleum Development Corporation (NPDC). “Further delays are disappointing but unsurprising in light of the challenging operating environment and the nascent status of NPDC.
16 Oct '13
http://www.investegate.co.uk/eland-oil---38--gas-plc--ela-/rns/operations-update/201310160700075998Q/ ""The delays we have experienced are frustrating but not unexpected in a project of this complexity and in the environment in which we are operating"" One of these days..............
12 Sep '13
Oil and Gas Investor Forum
Next Wednesday we have London's most exclusive oil & gas investor forum next Wednesday at 6pm at The May Fair Hotel The directors of Providence Resources (AIM: PVR), Canadian Overseas Petroleum Limited (TSX-V: XOP), MART RESOURCES (TSX-V: MMT) and Falcon Oil & Gas (TSX-V, ESM, AIM: FOG) will be presenting Niger Delta focussed Mart Resources, is already rewarding investors with a handsome 14% dividend per year (!!) and is particularly well placed, with more than 10,000 barrels of daily oil with a field development plan to bring this up to 30,000 BOPD. REGISTER NOW AND AVOID DISAPPOINTMENT: http://www.proactiveinvestors.co.uk/register/event_details/200
14 Aug '13
Gotta be looking for sub £1 now. Glad I smelled a rat.....no ops update for months, forecasts came and went
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