Member Info for elland

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I am a long term holder here and have been in Amerisur which is also undervalued. Both companies will do well, particularly if oil price doesn't fall off a cliff. As for being a ramper, I suppose I am one too based on my enthusiasm for ELA. I do not believe that Luckcounts deramped Amerisur but was making a comparison of the values between the two companies. Good luck to all investors in both Oil companies.

As I hoped Cannaccord just reiterated buy at £1.10 after RNS

Thanks for your time LuckCounts. I found the recent Capital Markets Day presentation much easier to translate. I will be interested to see if the brokers, Peel Hunt, Cantor, Panmure, et al, respond with comment or at least by reiterating buy notes. Unlike Munchbox, who is out for now , I still believe that this is well undervalued as production increases. Are we agreed that the inference is that Forcados back on line ?

Me too Herminator. Dont understand that last paragraph. It all looks good re 11500 bopd and the assumption that Forcados back on line, although no one is actually stating that. Still a hold and accumulate for me and belief that £1 per share during summer months. Long term hold here.

Roughly half the current barging costs of transport with Forcados opened Herminator as per details from Capital Markets day presentation

My only real complaint about the BOD at ELA is that they do not respond to e mail queries from their website Much. I have tried several times over the past year or so and never even received an acknowledgment. Not very professional and needs addressing. Good luck Munch.

Well patience is now paying off. Hold and if anything accrue. This is going all the way

nice buy of 300k shares. This will start to motor soon. Too much good news around, Forcados reopening, Price of Oil rising and increasing production.

Reaffirmed buy yesterday and increase from 90p to £1. That's all four following brokers now £1 or more

Someone just spent £217k on ELA shares. Thats confidence and why not with all the good news surrounding this share. In the meantime Oil up again and confidence that OPEC deal will be extended, also, Forcados reopening this week perhaps ? All good here. £1 here we come.

Welcome back Munch

Rebound today by 3% which needs to continue

Oil price stabilising this afternoon. I expect next OPEC meeting on 25 May will extend current agreement a further 6 months resulting in oil back over $50. Meanwhile ELA holding up today quite well on thin trade.

Well spotted Goldenboy2. Panmure increased to £1.30 and Canaccord confirmed at £1.10 to buy from "speculative" buy. Cantor still on £1.49, confirmed earlier in the week and Peel Hunt 95p. The Capital Markets Day was a success although I am a bit disappointed that the 60p level wasnt breached on Friday. Perhaps next week.

The full presentation is on the website and makes for interesting reading. Any O&G techies will love it with detailed information about all acreage. I particularly looked at the Financials and Outlook. The cost of shipping and its drag on profit is apparent and they compare this to their normal pipeline to Forcadas which makes me realise how important it is to the bottom line. Otherwise when it does re open, by end of second quarter, it should have a positive impact on the share price. Funding looks good and we are using $15m of the lending facility with Standard Chartered with plenty still in the bank and due from sales. Also details of the Tax Pioneer Status ( which I never really understood) and confirms current and proposed lower Nigerian tax regime. On the Outlook presentation they project 19800 bopd once Gbetiokun -1 starts producing at the end of the year and a total recovery of 33 million barrels for the four sites. That sounds ok to me. Anyway folks some pleasant bed time reading for the weekend

Hopefully through 60 today folks. Good start

Over 100 trades with 90% buys and great RNS. Also Capital Markets day so expect more media coverage tomorrow.

http://www.proactiveinvestors.co.uk/companies/news/176982/eland-oil-gas-unveils-major-reserves-upgrade-for-nigeria-operations-176982.html I thought you all might be interested in this.

I hope you are wrong but understand your sentiments Munch. I can't understand why the consistent level of buys are not moving this through 60p. Today's good news was unexpected and only helps support the company value.