Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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20p EPS (diluted). I know I get surprised by lack of movement sometimes, like last week when $1.6B of reserves were added and it barely budged, but if this doesn’t move it then I don’t know what wil.
Hopefully an update tomorrow. News pending re Gb and 2018 financial results (as per RNS quoting on or around March 20th)
Very lack lustre response to today’s great news. Defies logic share price hardly moved. Seen it all before with Eland and just don’t understand. This is s brilliant share and as a long term holder I am sitting on a significant profit. Out of the blue it will breakout. I agree with your prediction H £1.50 by the summer and £2.00 by end of Q4. Waiting for Gb results and exploration success from Amoebe. Onwards and upwards.
Well the last general update was back in January, surely by now there must be some news on how things are progressing. The results are due to be out around 20 March, of which I think will be a massive change from last year. With all the positives news just round the corner and the potential this company has I’m still resisting to topslice this until it reaches at least £1.50 a share, I hope this will be achieved by August, I would appreciated anyone’s input if they could spare a minute,Thankyou regards H.
what the hell ? whats with all the 1, 2 and 3 share trades lol
http://www.africanews.com/2019/02/27/muhammadu-buhari-nigeria-s-reelected-president-in-10-points/
Maybe it is a case of “better the devil you know” https://www.bbc.com/news/amp/world-africa-47363328
Broker target 160p. Opuama and Gbetiokun EPS plus Ubima EWT should take the gross production up to 45kbopd in the near term. With success at Amobe and the beginning of the prep work for Gbetiokun FFD, I’d expect the brokers to reissue a new target price considerably higher. 9 exploration wells have been drilled in OML 40, 8 have been successful and despite Nasai giving Amobe a pos of 42% which is good for exploration, ELA suggest the POS is 61% and an analogue to the Opuama field. The dividend shows a position of strength and confidence, 75kbopd is the forecast target through low risk infill wells and ELA clearly have an excellent grasp of the geology and operations in Nigeria. I would say ELA is an excellent company with a class asset and is able to deliver what most aim Oiler’s can not. 2019 will deliver growth through a significant increase in reserves, production and diversified export.
Shallwe:
"However, the company are brilliant, so well run compared to so many other oilers"
I agree with this, but I still believe that Eland are a growth company and the dividend, also welcome, is premature.
"There are better O&G ones out there IMHO that offer greater returns, management own more shares are safer and much cheaper"
I watch pretty much all O&G Shares, therefore I'm interested what these better shares are?
Based on their anticipated production for 2019 as stated, their % ownership of the assets and current Oil & FX prices it appears to me this is worth about 140-150p at current prices, it's ok but not cheap unless it/oil does something more in 2019 then it will range trade between a floor around 110p and 140-150p. Cheap would be 75p. There are better O&G ones out there IMHO that offer greater returns, management own more shares are safer and much cheaper. Nothing wrong with it just cash seems to be guzzled up and the buybacks are supporting it a little here in anticipation of the election outcome.
Thanks Stu
I did more research and like the CEO especially, he comes across as he will do what he promises, thats a massive + for me in investing regardless of the company or area they are in, so will come in on this soon
dividends on Aim a bonus aswell
S7ein My use of 'castigated' was over the top, but in my defence, you did say in a post in response to mine: - 'Eland are a growth company, they are unlikely to pay a dividend'. However, the company are brilliant, so well run compared to so many other oilers.
Amobe is located on the fault panel immediately to the north of the Opuama fault panel and its crest lies less than seven kilometres from the crest of the Opuama structure. NSAI, in its CPR of December 2017, assessed unrisked gross prospective resources in Amobe to be in the range 15.3 MMstb (low estimate) – 78.4 MMstb (best estimate) – 340.1 MMstb (high estimate), with a probability of success of 42%. Eland’s assessment of low and best estimate prospective resources is similar, at 15 MMstb and 80 MMstb respectively, but its estimate of high case prospective resources is lower than that of NSAI, at about 200 MMstb. However, Eland carries a higher probability of success (65%) than does NSAI. Regardless of which assessment of prospective resources and probability of success is preferred, the basic facts are simple: Amobe is a large, low risk prospect, whose location close to the Opuama production facilities would, in the event of a discovery, enable even the low case volume to be developed economically. For these reasons, Amobe is the top-ranked prospect in OML 40. Plans are being developed to drill an exploration well to test the Amobe prospect in late 2018 or 2019.
Tiburn been with this share for 3 years now. Lost my nerve on a few occasions and sold. Regretted it and bought back in. Loads of doomongers because ELA are based in Nigeria. They have world class reserves. It’s up to you but seriously it’s a brilliant investment. I am sitting on some brilliant gains. Great news about the dividend - icing on the cake.
Agree Hughes 1.50 by the summer. If Amobe delivers 2.00 by Q4.
I ve been doing research on this share
seems undervalued, good prospects and management
low debt, proven performance and growth
It seems to be main market stability but trading on AIM, even dividends soon.
Nigeria seems more stable in oil revenue protection terms so they want to support smaller producers like Eland
Am I missing some negatives as I cant seem to find any yet
Minimum 150.00
You bet Stuart. I would hate to lose out when this soars after their next RNS.
Looks great fundamentals here
What SP growth do people think is expected by year end here?
Good to see your still holding Hughes.
Need new glasses. Just re read the RNS.
Hello Stuart, share buy back continues until 20th March, or until target buy back has been reached. All in all, a very sound company. Bought more yesterday on the news.
The share buyback continues, see yesterday’s RNS.
I have been with ELA for three years now through thick and thin. During that time there have been peaks and troughs in the SP but the direction of travel is up. Lots of doomongers out there about Nigeria. Potential investors are seriously missing a trick with this one. Brilliant assets and quarenteed potential going forward. Well managed company who care about shareholders. Buyback programme ceased and they timed the announcement of the Dividend perfectly. Well done George keep up the good work.