Member Info for Alessandro

Adv11 I paid 15% tax on my dividends. I would check with my broker if I were you.

What happened today? I hope we are not entering in another painful downtrend.

What's happening, it makes more sense to give the cash (divided) to the shareholders so that they can take it away and reinvest rather than keeping cash in a bank account. Unless they are getting a good interest rate..

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.

That's exactly what I thought too...

What do we think about the 1p divided?

Has Eland announced the results for this week or is it projected based on the previous years' timings?

Yes, increased their holding by over 1% relative to the share capital in issue. In reality Caius increased its stake by 20% relative to their previous position (from 5 to 6%).

Thanks NewKOTB. Will we know about the licence renewal with some advance to the 31st of October?

What's causing the weakness in share price? The prospective of no deal Brexit? If so I can see the weakness to continue as we go through negotiations etc.

NEWKOTB what makes you estimate 2 weeks or so for the share price to go over 200p?

if DGOC doesn't get outbid, will they be awarded the asset? Is winning a stalking horse bid legally binding?

When is the renewal of the operating licence due for? What asset would be covered by the licence?

Thanks for your view Swindon41.
What I had in mind is that, once the share buy back scheme comes to completion, cash could be used for more acquisition or to reduce the long term liabilities. Which will add to the intrinsic value of the company.
I am not too confident into selling and buy back at a lower price, positive news may come through soon and I wouldn't want to miss the moment.
Last summer I made 50% profit after DGOC finalised an acquisitive deal. I would be happy to ride some volatility at this point in time. Besides 7% dividends are worth holding on.

Good morning Everybody.
On the Blackrose energy, could we see DGOC moving to the LSE too?

Any thoughts about price forecast in the coming 6-12 months? I bought at 240, I feel it will take forever to go back to those levels. Lots of volatility but in a general downtrend

Hi Nickel,
I believe the current liability shouldn't be of a concern to you. Here is why:
" The current element comprises US$20.2 million (2017 - US$3.8 million in non-current financial liabilities) of total drawings
under the prepayment facility with BP plus amounts of US$94.8 million estimated to fall due under the net cash flow sharing arrangements over the course of 2019. Amounts identified as currently due under both the prepayment facility and the net cash flow sharing arrangements, are directly related to production volumes and sales prices actually achieved over
the year".
The bit " Amounts identified as currently due under both the prepayment facility and the net cash flow sharing arrangements, are directly related to production volumes and sales prices actually achieved over
the year" should give assurance that whatever the current liabilities will be, it is guaranteed that Serica will be able to cover them as they are directly related to production.

Hi NewKOTB, I just managed to have a closer look to the documents you shared. Yes liabilities are indeed clearly stated as projected based on production. By the proportion on it, the projected production is massive!

I am impressed about how DGOC can implement the buy back scheme at such a low and non volatile share price.
Any thoughts about what is keeping the share price at such steady low level?
I predict the share price will start moving again once the buy back program comes to completion.

Nice update this morning
Eland Oil & Gas PLC ... is pleased to announce that a remedial tubing patch has been installed on the Gbetiokun-3 well in licence OML40.