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Is the sun shining in Nigeria today?
You must be joking!!
Yes, a bit better. I am feeling more and more that the failure so far to rise is a reflection of investors being risk averse in these very poltica times. For most investors this would be an excessively risky investment at the moment. I can see why many sold at ~130 and it will rise again when confidence comes back OR when Saudi Arabia threatens to disturb global markets by witholding oil supplies maybe?
The SP looking a bit more perky today. Long may it continue.
I have been watching this share with some vigilance and there were always buyers as well as sellers,often in very similar numbers.Therefore it is not a reason for mms to keep pushing the price down every day for some weeks now.This is especially so in the presence of several recent RNSs being extremely positive,the best in Company's history.Stach
Notwithstandig what you say Stach, share price will ultimaely reflect supply-demand, regardless of underlying health of the company. If there is isufficient demand for the shares, the price will not rise. If this is the case for a healthy company, then there should at least be a periodic dividend to reflect the profits of the company. The whole world seems to be seeig falling shre prices right now, so maybe ELand is just falling with the tide. We will see.
...does not reflect the reality on the ground.Thirty thousand barrels of oil flowing into tanks every day and the share price is being pushed South every day.Who is doing it?Certainly not the investors,it is mms,who live in the Wild West - shooting from the hip and laying down small investors.Successive governments doing nothing about it.How nice! All mms should become politicians,they are so alike.Stach
I've seen this also and i think this is the reason for the recent share price reaction. Hopefully nothing significant, local resistance in Nigeria should be expected. The Delta has been exposed to heavy rain so i don't think that will help dredging operations either. Hopefully another the next update will give us further detail
ANybody knnow what happened after this? Is this kind of thing a real threat or cloud on sp?
https://www.vanguardngr.com/2018/07/warri-north-communities-issue-five-days-ultimatum-to-oil-firms/
Ela need some positive progress on Gbetiokun, then I think we’ll see Positive momentum to the SP.
This is so frustrating, looking at the drop from 130s downs to current levels all sprung on the non starting of ubima / geb drilling sites, surely there must be some news by now of drilling updates, re entry or mer testing, ok go on then tell me I’m being impatient, or is that the mms keep the prices low too tempt people to sell like I expect. Call me syndical but to be pumping 30 k a day @ $70 a barrel it’s sum cash flow, any ideas guys, I will shut up now go back to me dark room 😀 regards H.
Good morning Stach you make some very good points however for some strange reason (maybe the fact I am visiting my son in California and can’t blood- sleep) I am trying to be positive. In the medium term the tree shaking might not be a bad thing. Eventually all those weak sells must eventually dry up leaving a firmer base on which to grow the inevitable share spike. Eventually the laws of supply and demand will prevail. Here hoping GLA
Further to my earlier post from today,there are only 220mln shares in issue therefore only fairly small number of investors hold this share.You only need 440 individuals with half a million shares and that your lot.Quite a few are smug investors as they bought at a time of 20+p/share and some even below that.The market size of 3000 shares says it all too.So who and why is holding the share price down?MMs have no excuse for such behaviour.If they think that they have,why then they have raised the share price to 140p/share just weeks ago,before the series of trermendous RNSs wasannounced including the last one afterwards,yet for them dropping the share price on a day by day? Funny how you never get an explanation for this even from so called Gurus.Stach
Couldn't agree more Stach. The company is in better shape than the vast majority, if not all, of the AIM oilers, yet the share price has been a bit deflated recently, even after last weeks fantastic RNS with the unaudited results. I'm looking to top up again soon but I'm fully invest ATM and not wanting to come out of my existing other shares.
So exactly why and how do miss supress share price? Are there not limits to their control over time and regardless of supply and demand? 6
Its such a shame that some poor souls are frightened into selling by unscrupulous mms.When you see already such production figures(close to 30k boo/day),big money in the bank and broker ratings of 170p/share now whilst a while back Barclays suggested 280p/share it makes you think,on what planet are these mms !The Company is growing potentialy doubling their profits at six months' intervals and to me it is a "buy" and not a sell even short term.Stach
Thanks Stach - Looks like the MM’s are at it again today:-(
Good morning Stuart.Thank you for that snippet on Elland.It all taken from the latest RNS and BRR Media(which I also watched) but mms seem not interested! a great Company with much more to come even before the end of 2018.ATB - Stach
Hi just in case anyone has not stumbled across this I spotted this latest comment from MF. High-flyer If you want a more impressive oil share price rise, take a look at Eland Oil & Gas (LSE: ELA). Eland is up a bit less so far this year, at 70%, but over the past two years shareholders have seen their investment more than treble in value. That’s after my colleague Harvey Jones suggested a year ago that Eland could do well if the oil price recovery proved sustainable. Eland is also different in that it’s in profit, with forecasts for big EPS rises putting the shares on forward P/E ratios of only around four and less. We had first-half results from Eland on Thursday too, reporting on a period that chief executive George Maxwell described as “the most important operational and financial period in Eland’s history.” Record production It included record high gross production from the firm’s OML 40 prospect of 25,000 bopd, thanks to success at its Opuama-8 and Opuama-9 wells. Average gross production came in a little lower, but at a still impressive 17,146 bopd. Gross proved (1P) reserves have been uprated by 20% to 39.5m barrels, with gross proved plus provable (2P) reserves up a little to 83.4m barrels. With a reported post-tax profit of $44.7m, operating cash flows of $50.6m and cash on the books of $29.8m, I see Eland as one that could seriously tempt oil investors. Capital Gains In the meantime, one of our top investing analysts has put together a free report called "A Top Growth Share From The Motley Fool", featuring a mid-cap firm enjoying strong growth that looks set to continue. To find out its name and why we like it for free, click here now!
Good morning.Yes a very good resume on the Company.I have seen this interview before and it was one of the reasons that I invested here.At $2/barrell extraction cost its probably the cheapest you can get.No silly regulations constraining you how you deal with the sale of oil and with transportation access its' no brainer.He is confident on doubling the production in 2019.What else do you need? Great find for me. Stach
I’ve only just found this video interview of George Maxwell, posted in May.... might be of interest to you.... https://www.elandoilandgas.com/news-media/media-library/ Nigeria is the elephant in the room!
Halifax platform has not even reported last RNS ! Mr Trump would call it a "collusion" ? Makes me thinking of changing my allegiance to somewhere else.I could also not buy or sell this share except via NT.Very interesting indeed.Stach
Hi there.What is not always appreciated,the Company's progress to the main Market is also stifled,yet the Government of yester-years decided to create AIM in order to help small Companies and small/big investors to grow together and enter the main Market eventually.The greed of some individuals is not allowing them to just make profits on the spread between buy/sell(which often is huge) and they want more.Why on earth this has not been sorted out by now by successive governmental regulatory bodies? Stach
I have fallen victim to the plots of the MM’s on 3 separate occasions with this share. Sold out on unwarranted drops and ended up buying back in with a diluted holding. Three times bitten twice shy- not getting caught again. Panicked and forgot about the fundamentals. Eland always delivers. No sells for me for at least another couple of years. Great reserves, fully funded and back up route to market. Then it’s either acquisitions, great dividends, new field developments or sale of the company. Can only see more gravy. GLA
BawlOfFruit.You just look at yesterday's trades.MMs were fleecing the small time investors by trying to scare them with ever dropping share price resulting in small but multiple sells.The big boys cleared the lot.This is what I am about,an unfairness of mms system on AIM.In a 21st Century and computer programs of today,there is no need for them.Other Countries do not have them.Its an anachronism.I said that before.This share dealings is worth remembering.Stach