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Could it be due the low hedges they have in place , this is arguably the big step where management are going wrong . They have hedges at $53 oil !!
Can it be due to capital investment?
Net capital investment of $79m includes an accrual for capital expenditure for Elcrest share in a new 36km 16" Export Pipeline between Opuama and Otumara, with a capacity of over 100,000 bbls per day. The investment in the line demonstrates the joint venture's long-term commitment following the 20-year extension to the OML40 licence in 2018.
Was net cash , now net debt. That wasn’t expected
That's exactly what I thought too...
Why are they using this useless rig which is always having problems when there must be loads of idle rigs at the moment.
What do we think about the 1p divided?
Hi Allesandro I saw a mention of this in a previous RNS. I think they said approx Sept 12th.
Has Eland announced the results for this week or is it projected based on the previous years' timings?
And let’s not forget the Dividend - which i’ve just done :-))
First half results due out this week. Hopefully more positive news. Really need a great story to get Eland motoring. Looking forward to hearing about drilling progress and possibly more movement on the suggested 2nd rig acquisition. Fingers crossed. GLA
Below $58 now
Sure, it is. I was just wondering if anyone knew of any substance at lying behind it. Stuartv seems to have dispelled any such worries :) Thanks. Still a mystery to me why there is not more demand for this stock, seeing as virtually all metrics look healthy, both now and for the future. Is it just the risk factor of oil/Nigeria? In which case it'll be dividends to look forward to rather than SP.
Just read that Daily Post article.
It's incoherent drivel.
Re the below article reference:-
Wrong CEO - Not Les but George M
Wrong OML - Not 17 but 40
Wrong Loan Collateral - Actual production not reserves.
The market is what the market is, some we win some we loose. You pay your money you take your choice. But this article lies damned lies. Sorry for the rant. Back in my box now. GLA
100,000 share buy just gone thro. Clearly they don’t believe the de-ramping work of fiction mentioned below. This share always delivers. Held for 3 years and doubled my investment. Onwards and upwards. Looking to announcement of dividend and Amoebe prospect.
Surprised this is still holding up here.
I would expect to buy back at about 113 - 115. Have bought and sold these shares for many years and they always bounce back. It is a very solid company with a strong asset base, but is unloved for some obscure reason.
How low are you expecting it to go?
Sorry guys, just sold out at 123.29. Will buy back again when the sp goes down a bit, but also salivating at the way Cairn and Premier are nose diving. Eland is a prime share and I shall always be a fan. GLA to those of you who are holding.
Yes I think (hope) you are right! The SP still seems to be uncertain on where it wants to go though. Most frustrating. Thinking about selling and investing in something with more sustained, if undramatic growth soon.
Seems like a smear to me. Lots of inaccuracies I reckon if the author can’t even get the oil licence and company HQ locations correct. What excessive borrowing it seems pretty darn low to me. Get your facts right Mr Author. Why take any credence in the rest of it. I put my faith in George he’s never let us before.
How significant is this?
https://dailypost.ng/2019/08/12/worries-relationship-eland-oil-gas-nigerian-govt-worsens/
There are indications that the Oil and Gas Industry in Nigeria would witness degree of economic and administrative struggle as Eland Oil and Gas Nigeria Limited are at loggerheads with the Nigerian Regulator and operator of the Opuama Field at OML 17 on regulatory matters concerning crude export from the asset.
48 k
Don’t begrudge you George you are doing a first class job as CEO. Just thinking with your share options every penny rise is approx £48 for family coffers. Mind boggling. Keep up the good work.
Must say I am looking forward to tomorrow and a big upward bounce in the SP (always live in hope) Mrs V is a spendaholic who thinks money grows on trees. Please please ELA????