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Wow
Down 6% as I write. Can see the oil stocks getting smashed tomorrow. Off nearly $4 in today’s trade. Surely this is the low for oil. Anyhow I’m buying Ela tomorrow and at this rate it looks like sub £1. Here’s hoping.
Looks like I’ve got my entry of sub £1.05 tomorrow morning. Well chuffed. Can see this scaling dizzy heights come summer next year.
Special divi would be nice
Grabbed a few over the last few days after reading info on company. Looks very interesting especially coming up to year end with this.
Following completion of operations on Gbetiokun-1, the rig is intended to move to the Gbetiokun-3 well which has multiple appraisal objectives and is planned to be completed on the D9000 and E7000 reservoirs. Production testing of the Gbetiokun-1 and Gbetiokun-3 wells will be carried out after both wells have been completed, currently targeted for before the end of the year.
Initial gross production through the Gbetiokun Early Production System ("EPS") is estimated to be approximately 15,000 barrels of oil per day ("bopd") (6,750 bopd net to Elcrest).
For me I'm just passing through as I'm wanting to retire ( middle of next year fingers crossed and knackered playing this game. I believe if above comes in then Mr m has little choice but to realign the shareprice to reflect the production figures attributed to this company. We are not talking loose change here . Am I correct in say around $40 profit pb.
Can see a dividend coming next year. Just a toe in the water to start with then the share will really fly. Today’s prices will seem a bargain.
Buy in entry around £1.05 or below. Here’s hoping !!!
George Maxwell, CEO of Eland, commented: "Eland is undertaking this Programme alongside significant continuing capital investment across its OML 40 licence, the ongoing pursuit of strategic acquisition opportunities and continues to review its dividend policy. The Board believes this Programme is in shareholders' interests and will be accretive to net asset value per share whilst retaining flexibility to both fund our existing programmes and the flexibility to explore other opportunities."
Tends to occur if comp seeking access to alternative client base. Can be a signal that comp is unhappy or about to tap a market for new venture Today's news is excellent imv and highlights the BODs smart attitude
Can anyone explain the concept of a joint broker. Why would that be required and what does it imply. Please enlighten me with your wisdom.
Thankyou Bigspike for sharing the latest ELA presentation - top man. The good thing about Eland is that they always deliver and in the not too distant future they are going to be swimming in cash. It begs the question what are they going to do with all the money. Whatever they decide must have a positive impact on the share price.
Wow, just read the report, some serious work plans ahead, also the production rises very quickly next year with other fields/ wells being bought on line, as indeed exciting times to be part of this. Only my take but it’s a very attractive company, cash flows and production heading north. Just need the markets to settle down again amid the current turmoil. Regards H.
https://www.elandoilandgas.com/media/1284/eland-corporate-presentation-nov2018.pdf
Good morning. Excellent news today. Fantastic team. Regarding the broker news yesterday, why the caution if they are operationally so effective? Happy to hear thoughts. Cheers
Yes great news this morning, Gbetiokun EPS will deliver an additional 50% increase in production through an additional export route. 30kbopd gross from Opuama and Ubima on test prior to EPS. Exciting times for ELA....
The joint corporate broker announcement is something to be slightly wary of.
20 years, and $6.3m sounds pretty good value to me.
Licence renewal sorted. And gas production on the agenda!
George Maxwell, CEO of Eland, commented: 'We are pleased with what is expected to be another highly successful infill well on the Opuama field and we look forward to further record field production levels once testing has been completed. At current oil prices, these record levels of production from Opuama field are leading to significant cashflows for all of OML 40's stakeholders. The prolific nature of OML 40 combined with the Company's experienced and resourceful team and supportive stakeholders means that we move development operations swiftly to the Gbetiokun field and the opportunity to increase production by a further 50% in the near-term. Furthermore, the conversion of Ubima-1 into a producing well following the initial workover is a milestone for the Company and following the test of the E1000 and E2000 reservoirs we shall begin to evaluate monetisation opportunities for production from this well. Further evaluation of the D1000 sands are required to consider options for any full field development and we will update the market as we progress these studies. We look forward to updating the market on the progress of both the Gbetiokun Early Production System and the evaluation of Ubima.'
Probably the kiss of death but hopefully the trend is upwards from now. The MM’s seem to be marking the SP higher. Shouldn’t be too long until there is good news surrounding Gb. Been holding for over two years and seen this trend several times. Onwards and upwards - fingers crossed.
Just a thought as it seems the US/IRAN standoff is becoming more serious , Nigerian oil should be of more interest as a stable and safe supply .
It might be a market cross, i.e. he sold the shares to himself.
I did see that bangrak but thought that maybe I was misreading the RNS.
Anybody have an idea why that would happen?
The RNS mentions a sale and a buy for the same volume of shares to Lombard Odier, not quite sure why anyone thinks this is a NED buying shares.
So the 9M trade was a BUY !!!! I feel so sorry for those that sold in panic when they saw that on Friday.