Member Info for stuartv

Much appreciated - thanks Bigspike.

There’s a lot of knowledge out there so I would be gratefully appreciate any insights/views on whether the OPEC cutbacks and Nigeria’s participation (I think) will impact on ELA’s short term drilling plans. I am holding long term regardless. GLA

Thanks Bigspike. My below assumption was clearly incorrect. Moral of the story is stop blood- skim reading lol

Hi Bangrak. I think the cash has gone to fund the drilling programme. Capex 15/20 m per well. Payback 90 days. Take care.

Smasher your numbers look as close as to me. However as I understand it (I am often wrong lol) they don’t take into account capex. I read in one of the announcements that this is around 15million per well with a 90 dayish payback. GLA

Totally agree Munch.

ELA holding up well considering the oil price. Well done George with the share buy backs. Hopefully enough to weather the storm before OPEC meet in December.

An absolute disaster alround. The only consolation as far as the POO goes is that it is so Effing bad that it will concentrate minds in OPEC. The Saudis and the Ruskies must be thinking omg. They simply can’t afford to fudge it or make a holding position. Only got a small holding here but feel everyone’s pain GLA.

Can see a dividend coming next year. Just a toe in the water to start with then the share will really fly. Today’s prices will seem a bargain.

Thankyou Bigspike for sharing the latest ELA presentation - top man. The good thing about Eland is that they always deliver and in the not too distant future they are going to be swimming in cash. It begs the question what are they going to do with all the money. Whatever they decide must have a positive impact on the share price.

Licence renewal sorted. And gas production on the agenda!

Probably the kiss of death but hopefully the trend is upwards from now. The MM’s seem to be marking the SP higher. Shouldn’t be too long until there is good news surrounding Gb. Been holding for over two years and seen this trend several times. Onwards and upwards - fingers crossed.

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

Is the sun shining in Nigeria today?

The SP looking a bit more perky today. Long may it continue.

Good morning Stach you make some very good points however for some strange reason (maybe the fact I am visiting my son in California and can’t blood- sleep) I am trying to be positive. In the medium term the tree shaking might not be a bad thing. Eventually all those weak sells must eventually dry up leaving a firmer base on which to grow the inevitable share spike. Eventually the laws of supply and demand will prevail. Here hoping GLA

Thanks Stach - Looks like the MM’s are at it again today:-(

Hi just in case anyone has not stumbled across this I spotted this latest comment from MF. High-flyer If you want a more impressive oil share price rise, take a look at Eland Oil & Gas (LSE: ELA). Eland is up a bit less so far this year, at 70%, but over the past two years shareholders have seen their investment more than treble in value. That’s after my colleague Harvey Jones suggested a year ago that Eland could do well if the oil price recovery proved sustainable. Eland is also different in that it’s in profit, with forecasts for big EPS rises putting the shares on forward P/E ratios of only around four and less. We had first-half results from Eland on Thursday too, reporting on a period that chief executive George Maxwell described as “the most important operational and financial period in Eland’s history.” Record production It included record high gross production from the firm’s OML 40 prospect of 25,000 bopd, thanks to success at its Opuama-8 and Opuama-9 wells. Average gross production came in a little lower, but at a still impressive 17,146 bopd. Gross proved (1P) reserves have been uprated by 20% to 39.5m barrels, with gross proved plus provable (2P) reserves up a little to 83.4m barrels. With a reported post-tax profit of $44.7m, operating cash flows of $50.6m and cash on the books of $29.8m, I see Eland as one that could seriously tempt oil investors. Capital Gains In the meantime, one of our top investing analysts has put together a free report called "A Top Growth Share From The Motley Fool", featuring a mid-cap firm enjoying strong growth that looks set to continue. To find out its name and why we like it for free, click here now!

I have fallen victim to the plots of the MM’s on 3 separate occasions with this share. Sold out on unwarranted drops and ended up buying back in with a diluted holding. Three times bitten twice shy- not getting caught again. Panicked and forgot about the fundamentals. Eland always delivers. No sells for me for at least another couple of years. Great reserves, fully funded and back up route to market. Then it’s either acquisitions, great dividends, new field developments or sale of the company. Can only see more gravy. GLA

Totally agree clearly something is holding back the price. It defies logic and the laws of supply and demand. Was wondering if there is a big big order coming through soon and the price is being held down to accommodate this.