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Defo confidence and a very promising move from an insider in the know ! Henry Turcan NON-EXECUTIVE DIRECTOR Henry has worked in financial services since 1996, with a focus on equity capital markets. Having spent the majority of his career advising growth companies within investment banking, he switched to investment management when he joined Henderson Global Investors in 2015. In 2017, the funds managed by Volantis were transferred by Henderson to Lombard Odier Investment Management. Henry was an original investor in Eland and prior to joining the board as a Non-executive Director in January 2015 he advised the Company from its seed funding to its listing on AIM in 2012. Henry graduated with an MA (Hons) in Modern Languages from Edinburgh University and is a Member of the Securities Institute. Committee Membership
I'm sure stranger things have happened!
I'm going for confidence, considering putting more in.. but I've already earmarked what goes where so that would require a balancing hmmmm
I don't think I would put in £9m of my own money just to prop up an SP. I would like to think that he knows where this company is going.
Show of confidence or trying to prop up SP for the time-being?
That explains the 9m!
Well there's been some huge trades today yet the sp has finished flat. Yes hermi, hindsight is a wonderful thing but I'm here until both Ubima and Gbetiokun Eps's go into production, I'll reassess then. Both offer significant production potential, low risk geology, diversified export routes and reserve upgrades. It will turn soon...
Crazy to sell this share, I am busy buying. MMs keeping the SP down for their own ends. I am jumping onto their bandwagon. GLA.
I wonder if the 9M sell was actually a buy as it looks like the share price went up at the same time ??
Cheers spike, massive sell went through 9m hindsight is a fantastic thing ah. H.
Who pays the $30? Eland or Elcrest?
Broker target 170p
ELA own 45% of Elcrest and Starcrest own the other 55% so in reality ELA get 20.25% of total production or 45% of whats credited to elcrest, on what they have said today OML 40 should give ELA 6075bopd and i recall the cost PB was $30 so a quick calculation (oil $76, fx$1.31, 220m shares) gives me an EPS of 20p and as this is Africa a PE of 7 is reasonable so its worth 140p max. However ELA i recall have the rights to the cashflow until a loan to them of $380m is paid off so revenue and cashflow look better for a few years. Correct me if i am wrong but i cannot see exceptional value here. 120-140p seem right and that is where it went recently.
Hi hermi https://www.elandoilandgas.com/media/1266/ubima-appraisal-jul18.pdf The Ubima presentation suggested prior to Ubima starting the there was uncertainty in the D1000 & F7000 reservoirs. F7000 tested at 2500 bpd that’s is a fantastic result, excellent reserves upgrade! D1000 didn’t test very well so they intend to re-evaluate this reservoir for further appraisal drilling. Like you say, possibly drill in a different area but their now looking at these options. Also D1000 seems to low api oil, not the best. However, the Ubima 1 well has now been dual completed in the E1000 & E2000 reservoirs. They are much more confident in these 2 reservoirs, they always intended to put this well into production from these. The dual completion wells have been exceptional on the opuama field, I’m pretty confident here and I think ELA are too. GL.
Hi spike, yes a great Rns indeed, I did pick up on ubima though, in plan English what does this mean, will they just drill/search for other access depths to find the oil. Yes mms been having a right field day with this, I hope it re traces to at least £1.20 s but we will see, it was also mentioned again about the revenue flows by the eland team, wonder what there planning. Cheers H.
Record production gross 30k bpd with opuama 11. Ubima 1 dual completed as a producer from 2 reservoirs, F7000 can be used later. EPS soon. Post opuama 11, rig moving to Gbetiokun to work over Gbetiokun 1 and then drill Gbetiokun 3. Gbetiokun field has 20 potential oil bearing stacked reservoirs!!! Expected production of the 2 wells is 15,000bpd limited by EPS. MM’s have been having a field day with this, I’m expecting a bounce. Another great rns...
The directors of this company usually keep us well informed. I find for some reason that when an RNS is imminent the share price always falls and no matter how good the information is, the MMs keep the price down for about a week after, no doubt to line their pockets and those of their friends before the shares rise dramatically. I think this is one of those scenarios.
I am amazed how ignorant they are about their shareholders.The share price drops 30%+ and no reassuring RNS in sight.Why not state that they are unaware of anything causing such share price drop? Usually on AIM such companies are quick to point out that there is a substantial share price rise but they see no reason for it !If there is a genuine reason for such share price drop here we should be informed.Stach
Looks like mms are having fun with the share price today. It generates at bit of volume but at who`s expense ? Re-read the last 2 RNS messages and make your own mind up.
LSE haven't updated their SP from yesterday and have started from yesterdays drop. The actual SP as of this moment is 100p
So what gives???
Its a steal if the elections in Feb are peaceful and oil supply isn't interrupted however with uncertainty there it might struggle and people might look to safe places to invest until then so i personally cannot see this getting back to 130p that quickly, but if Feb passes without too many issues its worth investing.
Shallwe, I agree it’s worth a top up but I’m not sure about a steal. I think if the market semi crashes then I think 75-80p will be on the cards and at 75p this is a STEAL. I’m watching n waiting for 80p. I think it’s not very likely but there’s certainly a chance as cracks in Italy appear along with a few earnings showing weakness.
.......do another top-up. with the SP where it is at the moment, it's a steal.
Ha ha ha, he has been removed for what looks like scamming, after he was reported.
How do we get what appears to be a massive scam , stopped from these share chat areas.Does LSE .COM agree with these posts or indeed take any form of responsibility. BEWARE,BEWARE ???