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Hey LUCKCOUNTS, been with this share on and off for about 5 years. It is loved when there is bad news and hated when there is good news. Just waiting for the next bout of bad news to come along so I can sell a few then buy back on good news :-). Maybe Ebola will be our next saving grace LOL.
To much to hope for ( no oil in Ameobe) £3 a share here we come. I can only dream. Good night off to bed now.
No Luck we want some bad news. Good news seems to depress the SP (just don’t get it). Come on Avengers do your worst and roll on £2 per share.
Totally get where where your coming from Luck. Like me and Hughes L your still holding the faith. I remember the Op drilling campaign little or no movement frustration the order of the day. All of a sudden it shoots up. Fundamentals are brilliant. Gb on line now and more good news to come. Not so long ago this share was an a-rae clincher but fortunately the Delta is quiet (at least for now). Looking forward to the dividend and Am exploration well. As Derek Trotter says “ this time next year” GLA. P.S love this board but sleep more visiting son overseas.
Very true Stuartv
Hold the faith the SP will bounce back. I remember May thro to Sept 2017 when the price dropped from 65 to 48. Look at it now. ELA has brilliant track record and massive reserves. Peace in the Delta in contrast to then. Six months from now the new base will be £1.70. ELA always delivers. Good luck fellow P.I’s
Dear George
Please please give us long term holders some bad news. Your continual drip feed of positive updates is depressing the share price. I don’t want to hear about the successful refurbished drilling rig. The spudding of Gb 4 is like a dagger to the heart. The almost doubling of production and massive potential future reserves. Leave it out Mr Jolly your depressing the SP. Be more gloomy.
Nice update this morning
Eland Oil & Gas PLC ... is pleased to announce that a remedial tubing patch has been installed on the Gbetiokun-3 well in licence OML40.
I was under the impression that the above will bring the total rig count to 3. Probably just me but today’s RNS read as if ELA “only” has 2. Maybe GM meant a second additional rig ??
Hi Alessandro - I believe that there are regulations to be followed in share buy back schemes (especially around the time of company anouncements/results etc) as to how much they can buy. A £3 million share buyback was started by the company in November and by 20/02/19, they had already purchased £2.2 million worth of shares. They then announced that the buyback scheme would be extended upto a total £6 million buyback programme where the company feel that the share price does not reflect the companies assets, bank balance, etc
Personally, I am holding here for the dividends and I know that more production will come online soon, with appraisal wells to follow - but it is unusual for a sustained period of silence from the BOD - any previous delays to infill drilling were reported by the company and the share price has remained steady (with the help of the share buyback programme), so I don't forsee any problems - I'm sure all will be revealed in the next RNS -hopefully very soon
Very unlike ELA over 3 months since the last operational update. In previous years by now they would have concluded a Capital Markets day presentation. In my own little fantasy world it would be nice if someone had put in a takeover offer for the company that was way too big to refuse. Hence the silence. I did say Fantasy ;-)
Very unlike ELA over 3 months since the last operational update. In previous years by now they would have concluded a Capital Markets day presentation. In my own little fantasy world it would be nice if someone had put in a takeover offer for the company that was way too big to refuse. Hence the silence. I did say Fantasy ;-)
Very unlike ELA over 3 months since the last operational update. In previous years by now they would have concluded a Capital Markets day presentation. In my own little fantasy world it would be nice if someone had put in a takeover offer for the company that was way too big to refuse. Hence the silence. I did say Fantasy ;-)
Hi LivintheDream and thanks.
The buyback scheme recently is of a volume of shares worth only a few thousands pounds.
Is there any point in doing so?
Alessandro, Peel Hunt have been continually raising the target price for ELA for the last 3 years. The most recent price would be based (i'm guessing) on the 2019 operational guidance RNS posted back in January - and we've not had any further operational news since - so there is still plenty to come from ELA on infill wells, development and appraisal drills - I'm just surprised we've not heard nothing for so long. It should also be noted that Peel Hunt included ELA in their "doublers" list on 18th Dec 2018, of shares expected to double in the next 2 to 3 years - the ELA price on that date was approx. £1.10 - so still plenty of room to go. Also, the company have stated that they will start paying dividends end of this year/early next year as per a previous RNS - ELA have a great management team and are normally communicative with shareholders on operational updates on good and bad news - so this prolonged period of no news is unusual
Peel Hunt reiterates it's buy recommendation. Is that based on any new insight?
Things have gone so quiet here lately, I missed the revised 193p target price by peel Hunt on the HL website.
The operational guidance RNS posted at the start of the year, highlighted plenty of drilling activity - but no significant update since. Still, with no news and dropping oil prices - the share price has held up well - hopefully we'll see that 193p by end of the year.
Hopefully a positive update next week, it been a while - here’s hoping. Come on George get typing lol
Will (not Milton). Sorry blood- ham fisted grrr
Come on ELA give us P.I’s an update on Gb. Not heard anything but we usually have a Capital Markets Day Presentation around mid May so hopefully this milton expedite any update. Lots of good news anticipated with Ub drill also scheduled later in the year. Not forgetting to mention Am exploration well in Q3 which will hopefully be a game changer. Good luck everyone.
https://www.investorschronicle.co.uk/shares/2019/03/21/eland-ups-buyback-plans/
Would have preferred a dividend if had choice between that and further buy backs or might we get both ?
Totally agree with you stuartv. Please, please, please give us some bad news!!!!!!
Maybe I am thick - probably am. But I actually believed today’s results where good. Add to that the buyback it sounds even better. Clearly not the case. Wish i’d worked harder at school. Maybe a falling share price is good. Help I am loosing my marbles.
Cash up $7m in 1 year and another block of cash from exploration costs of $19m received (again) after accounts closed, based on production for 2019 estimates this is currently worth about 150-160p imo, not sure what kind of budging you want but 20% in a year seems to be about it.