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4 Sep 2014 07:00
04 September 2014
Eland Oil & Gas PLC
("Eland" or the "Company")
Operations Update
Eland Oil & Gas PLC (AIM: ELA), the oil and gas exploration and development company with a focus on Nigeria and West Africa, is pleased to announce that production on the Opuama field has recommenced, with gross production stabilising at an average rate of over 3,500 bopd.
Furthermore, Elcrest Exploration and Production Nigeria Ltd ("Elcrest"), Eland's joint venture company, has received payment for its August lifting from Shell Western Supply & Trading Ltd. Elcrest has now sold and received funds for a total of 46,022 bbls of crude to date.
Elcrest's next lifting is expected to take place in early September and is due to be a cargo of circa. 38,000 bbls of crude.
For further information:
Eland Oil & Gas PLC | +44 (0) 207 016 3180 |
Les Blair, CEO | |
George Maxwell, CFO | |
Edward Cozens, IR | |
Canaccord Genuity Limited | +44 (0) 207 523 8000 |
Henry Fitzgerald-O'Connor | |
Peter Stewart | |
FirstEnergy Capital LLP | +44 (0) 207 448 0200 |
Majid Shafiq | |
Khalid Ahmed | |
Citigate Dewe Rogerson | +44 (0) 207 638 9571 |
Martin Jackson | |
Shabnam Bashir |
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