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I’m liking your first post grez, May I encourage you to post more often.
Hi all, first post but I have been an Eland investor for about 1½ years (in at 0.48, 30,000 shares at cost basis of 0.68). Regarding the share price i'm a little more optimistic in the near term. If Eland can do $9.8M profit (after tax I believe) in Q4 on 18,5000 bopd with oil in the mid 50's then I think we are looking at $15M profit per Q on average this year.
$60M / 220 million shares outstanding is an annual eps of 27 cents a share. Apply a conservative P/E of 10 and you are at $2.7 share price. Convert $ to £ and we have £2.10.
But......I think i'm lowballing a little bit. Stick a 15 P/E on (which would be a very reasonable thing to do and) and we are we are more like £3. And don't get me started on the longer term projections :-)
Anyway, good to be here with you other enlightened souls and good luck to you all with your investing endeavours.
Welcome onboard Stach good call investing in Eland it's a very well run company. I am not up on as much of the detail as some of the other P.I's on this board but I seem to remember the share has never been North of £1.30. With the drilling programme i.e Ub, Gb and on going Op I think £2 by this time next year is very realistic. In the shorter term £1.50 by Autumn 18 is well within reach. H2 results are announced in September which will undoubtedly show continued momentum. In the next two years its onwards and upwards. After that who knows. But on past performance they won't sit back. Whatever they decide to do it is has always been effective. You may have already seen the George Maxwell interview Panmure Gordon on YouTube but if not it's well worth a watch. It's a year old but the fundamentals are still the same.
Hi stach, I like your enthusiasm.... I bought in at 55p so £2 a share sounds great, let’s see... I’m a bit of of chancer just like most on aim. Many on here much sharper than me, ELA appear to be the real deal though... good luck. Hoping to get news of the second rig at ubima...
Hi there.You seem to keep this bb going and going very well with your very good knowledge of this Company.I have only just come back from town and saw your comment.It looks as we might see £2/share price next year.Correct me if I'm wrong but was it not that long time ago the share price was close to what I am suggesting? ATB - Stach
Good luck stach, you’ve invested in an aim oiler with a world class asset, very rare indeed! These dual completions wells are mega and Eland are targeting 80000bpd by infill drilling. Also, proven management with regional experience, can’t fault them so far. 2018 H2 is a very important year, management intend to bring on Ubima and Gbetiokun, diversifying their oil export route. GLA.....
Just bought 10k of shares here for the first time.I have been watching the progress of this Company for some time and of late it is really impressive.What sway me to buy it it was a very small number of shares in issue and great recent drilling results reflected in an excellent bopd figures with more to come shortly.I also see some very knowledgable posters here and it is a pleasure to read them.My main investment is in CERP but I shall buy more here if the progress is continuing to be as good as in recent months.Stach
When opuama 7 was sidetracked the following info was released “The Opuama-7 sidetrack encountered both D1000 and D2000 sands as expected with a total of 77 feet of good quality net pay. Over 60ft of the D2000 sands have been successfully perforated and the well is currently being completed and hooked up so production can commence imminently, with gross production flow rates expected to be in line with previous guidance of 5,900 bopd. The D1000 sands will be perforated at a future date to maintain the production rate. The Company will make a further announcement once an initial stabilised production rate from the Opuama-7 well is achieved.” Looks like the workover will revisit opuama 7 to perforate the D1000 sand. These mega opuama wells intersect stacked reservoirs and have backup supplies! World class asset....
Eland may not make the headlines as other oilers do, but what it does, it does very well.
this is not a great situation to be in but at least other export oil will be in demand, off topic I had been reading from Rns think may the 14th and forgotten about the rig move and possible drilling of Ubima 1 re entry, eland has stated the rig will be on site in June. Anyone heard if or how far the tag 37 drilling rig is getting on or wether it has spudded. If not news should be soon. Sitting fast still, good luck all regards H.
fantastic news as always, Opuama 9 exceeds expectations.... onwards and upwards!
Thanks for the feedback Shalwe very interesting insight. I reckon you'll reach your target by late autumn. In my humble opinion Elands SP trend will continue as normal up till then and during H1/2 of 2019. However in late May early June 2019 when they announce profit figures for 2018 the price will shoot up.. By then the company will be making significant profits currently it's a case of jam tommorow. With proven reserves only good news from Eland for at least the next two years. Still a slight risk due to potential militant activity in the Delta but courtesy of Elands robust balance sheet and barging option the risk is lessoned. I reckon £3 plus is more than achievable by 2020
One of those interesting shares where you know it should be doing better but at the same time are content with where it is. I've been slicing and topping up a few times since the price was about 50p. I've given it a high personal target of £1.60 but may well only slice.......again!
Sounds like a good commonsense approach to me Hughes - good luck to you. Good to see that MM's are holding the price up today despite the imbalance between buyers and sellers. Clearly buyers in the background pending or confirmed. Maybe they have a soft spot for George - tee hee.
I sold half my current holding when they went above 122p about a week ago the same day it went up to 127 :-( . Like you Stuart, I am holding onto the rest of my shares for the long term. However, I still intend to float in and out with extra shares on a short term basis and I am waiting for them to fall to around 114p before doing so. GLA
Hi Herminator your strategy is probably the commonsense approach. However in my case I am just going to bite the bullet and stick with my current holding for at least a couple of years based on the current drilling program and wells in the pipeline (pun intended lol). I have said this before and the fellow long-term holders will be yawning by now but I bottled it on three previous occasions and sold out only to buy back in. My buy in's were around 30, 50 and 80. That said this company has been good to me and I am sitting on a good profit albeit with a diluted holding. After two years who knows I can't see Eland just sitting on their laurels I am sure they'll have something in place to maintain forward momentum. Finger in the air for the SP but Simply Wall St analysis gives me hope. Good luck to you.
After market sells of 1.4 million shares, I remember last time this happened it was a re rate for a higher price. So I’m hoping this has the same outcome, I still scroll over the capitol markets presentation and think Christ what a share to be involved in. I guess the news for flow rates will be very soon, from op9 if all goes to plan geb1 could spud early August, with cash flow increasing daily it’s all exciting stuff !! Have you got a target for selling or top slicing ? I still am mulling over the £1.30 mark to recoup all my investment and let the rest ride, any thoughts? Regards H.
Low volume today investors sitting tight. Take this as a positive with a new base price around the £1.20 mark. Turn the clock back to April and who would of thought ! Op 9 flow rate imminent and Op 10 progressing. Not to mention Ubima. £1.50 by late autumn.
Nice rise so far today, but plenty of time to go. A couple of years at least ;)
Very strong !.
Looking strong in a general lull period for Oilies over the last week..
Most likely some sort of scam website used for back up for monetary fraud. Their telephone for whatssap use has a whatassp icon wit "Awesome India" on it and the web designer points to Sri Lanka
Hi PI Joe, was it a director at Eland you spoke with? When you mention it is disappearing bit by bit, what is disappearing? Has anyone else on this board had a discussion with Eland about the site and what it means?
It is very strange. Everything seems to point to it being something to do with Eland as all the directors are the same, even the ticker used on their website points to LSE:ELA and their website photos are tagged as Eland too. However, the company name as a PLC doesn't appear in Company House.