Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Agree 100% with the brief on PI... whilst I'm excited to see any kind of dividend on my holding, I do feel it holds a bit of a risk.
But the management know more than me so I guess time will tell how well this goes! gla
"And here I was, castigated a year ago for even daring to suggest that a dividend may be payable sometime in the future on this BB by one poster"
You were not "castigated" in the slightest
Here is what I said:
"The "dividend policy" is technically slack terminology for what the company does with its free cash flow, either:
1. Retain it and invest in new assets/projects etc, or
2. Pay out dividends or repurchase shares
I believe they will purchase a new asset before paying out any dividends, of which I still doubt they will ever do. Its in the interests of everyone that they use ever penny to reinvest in the company to increase production rapidly"
Castigated? - Hardly.
https://www.proactiveinvestors.co.uk/companies/amp/columns/30634?__twitter_impression=true
Oozes confidence, the bod clearly confident they can continue growing the company as well as pay a dividend, clearly shows the quality of asset Ela have here... Looking forward to taps been turned on at Gbetiokun!
Great RNS this morning, rewarding the shareholders with a probable dividend at the end of the year.
And here I was, castigated a year ago for even daring to suggest that a dividend may be payable sometime in the future on this BB by one poster.
Considering a punt on this stock, but can't figure out the profit share / royalty agreement / deferred tax position.
Does anybody have any idea if H2 were to double H1 with 135m revenue and 90m net profit how much of that would accrue to Eland shareholders ?
Seems this could be a great prospect - but legacy issues could have huge impact
Notification just received that Patisserie Holdings are being deleted from the FTSE AIM 50 and FTSE AIM 100 and Eland Oil & Gas are being promoted up to the FTSE AIM 50.
This should help with possibly getting investment from some of the big boys out there and a (hopefully) stronger SP.
I missed their recommending to buy 2-3 weeks ago. Yesterday they had an update and are having orgasms over Eland with s recommendation to keep buying. I've got a lovely tranche of these shares showing a very healthy profit and have been top slicing and buy on dips. Can't be bothered to sell any further, it just keeps giving and I'm convinced will keep up the good work this year too. Thank you George and co. DYOR & GLA
Eland get 50% of Elcrests production.
Has anyone tracked how many shares they've bought back over the past couple months?
SW its not producing much free cash during a time when oil was high. outlook is 14-17k for 2019 for elcrest but eland only get 45% of this due to the ownership structure of elcrest, this is often misleading despite the loan repayments.
Cash balance of $36.7 million at end-2017
6th April 18 cash $35m
30 June 2018 Cash of $29.8 million However, post period end ELA has received $50.5 million in cash receipts from our July and August liftings totaling 679,000 bbls ($74.37 pb). A further 350,000 bbls have been lifted in September which will provide an additional $26.6 million cash ($76pb) when funds are received in October.
Today EOY 2018 cash is $42.6m, maybe this is the reason.
I appreciate that there is risk in this share because of potential terrorist threats (although they appear to have receded over the last year), I still can't get my head around the fact that the market still hasn't woken up to this well run company with all the signs of potential uplift in the coming years, money in the bank (and lots of it) and virtually debt free.
I've been invest from the 40-50p mark and taken profit at certain time but then re-bought once it dropped back. It's my share of choice at the moment along with SEE.
That was a large Rns, great insight,massive potential here,roll on 2019, steady as she goes cpt George.........
So q1 we can expect production testing on Gbetiokun, expected to be limited by EPS at 15kbopd. George did also suggest an EWT on Ubima in early 2019 too, oil price back up. Future looks good for ELA... Quality asset with management that seem to be doing everything right!
Totally agree. Also looking for a further bounce in April when ELA report full year 2018 results.
Peel hunt has calculated when the geb 1&3 start producing @15k bopd (conservative forecast) the company will be in a very healthy cash position, therefore this share has got around 20/25p more in it, not including and little surprise updates with any other wells that maybe in the pipeline, so all looking very good here mr spike.
Few large trades and improved volume, can this be a ride back to 140p?
2018 H1 profits to ELA were $17 M, $44M profit was for the group ( Elcrest )
Only a matter of time! Looking forward to the coming year
Nice update although not unexpected. It'll be good to see how the market reacts.
With first half 2018 profits reported at $47 m expect to see full year north of $100m. Compared to other oiler’s small number of shares in issue (220 million). With a dividend the SP would really motor let’s say 15p per share would cost ELA £38m ish. Very low debt ratio. Gb and Ub ffd later this year. And of course Amobe exploration well. George has stated company is substantially undervalued (hence buy back). MUNCH your buy in at £1.04 is looking very shrewd to me. Good luck everyone.
Glad to see this aiming towards it`s true value. Is it due to oil price or an influx of ex faroe investors ?
Completion of Gbetiokun-3 is now expected in January and once completed, production testing of the Gbetiokun-1 and Gbetiokun-3 wells will be conducted using an early production system ("EPS") with initial gross combined production estimated to be approximately 15,000 barrels of oil per day ("bopd") (6,750 bopd net to Elcrest). Start-up of the EPS is expected to be Q1 2019. George Maxwell, CEO of Eland, commented: "Gbetiokun has the potential to deliver a 50% increase in oil production from OML 40. We look forward to updating shareholders on the completion of Gbetiokun-3 in January 2019."