Eland Oil & Gas Share Discussion Threads

[bugle4] 02/10/2015 12:37

dukedosh...Yeah but apart from all that what's wrong with the Co'

:)

[fabius1] 01/10/2015 13:04

I guess some of us had an eye on the Addax factor but the dynamics of the industry and wider economy do not necessarily play out the same way. One might bundle Tom Cross into the same scenario with Parkmead.

[dukedosh] 01/10/2015 11:07

Company has never achieved guidance and has never met their targets. IR is very poor, even the AGM location is impractical for most to attend. This outfit is full of promise but consistently lacks delivery. Paid brokers continue to beat the drum but never justify their calls. Currently difficult to see how these will monetise the assets, hence the falling share price over the last 3 years. All IMO, good luck but I'm still licking my wounds and staying out for now.

[fabius1] 01/10/2015 00:54

Isn't that enough?!

[bugle4] 30/9/2015 16:09

$13.1mln in cash or 6p per share???

What am I missing here apart from it being Nigeria???

[bugle4] 30/9/2015 16:05

Eland Oil & Gas (LON:ELA) revealed that the Opuama field, in Nigeria, was operational for around 81% of the first half of 2015 and the majority of downtime was the result of planned maintenance.

Average production, based on operating days only, amounted to 2,750 barrels oil equivalent gross: which equates to 1,238 barrels of oil per day (bopd) net to Elcrest Exploration and Production, Eland’s joint venture company.

The company told investors that work on the Opuama-5 well has now completed successfully, and the early indications are that the re-perforated well will see a positive result, with gross production of 400-600 bopd anticipated.

There have been a total of eight oil liftings which have seen a total of 201,771 barrels of crude sold at an average price of US$59.43. The next lifting is due this month, and the cargo is anticipated to be around 27,000 barrels.

Eland received US$2.1mln in July for oil cargoes from the preceding month, and it said that it had a US$13.1mln cash balance at the end of June 30.

[bugle4] 30/9/2015 16:03

Eland Oil (LON:ELA) hailed the first half production performance from the Opuama Field in Nigeria.

Average gross production was 2,830 barrels per day, with 1,273 bopd net to Eland's joint venture company.

Opuama, on the OML 40 licence, recorded average production uptime of 81% for the first half of 2015, which has risen to 90% in the second half so far.

In the first half Eland sold 163,100 bbls of crude oil, generating revenues of US$9.9mln.

[bugle4] 30/9/2015 14:58

Eland Oil & Gas PLC (LON:ELA)‘s stock had its “buy” rating reissued by equities research analysts at Canaccord Genuity in a report issued on Wednesday, MarketBeat.com reports. They presently have a GBX 130 ($1.98) price objective on the stock. Canaccord Genuity’s price objective indicates a potential upside of 179.57% from the company’s previous close.

[bugle4] 30/9/2015 14:56

Home » Reports » Broker Ratings » Eland Oil & Gas PLC 287% Potential Upside Indicated by Cantor Fitzgerald
broker ratings
Eland Oil & Gas PLC 287% Potential Upside Indicated by Cantor Fitzgerald

Posted by: Ruth Bannister 30th September 2015

Eland Oil & Gas PLC with EPIC/TICKER LON:ELA has had its stock rating noted as ‘Retains’ with the recommendation being set at ‘BUY’ today by analysts at Cantor Fitzgerald. Eland Oil & Gas PLC are listed in the Oil & Gas sector within AIM. Cantor Fitzgerald have set a target price of 178 GBX on its stock. This is indicating the analyst believes there is a potential upside of 287% from the opening price of 46 GBX. Over the last 30 and 90 trading days the company share price has decreased 5 points and decreased 30 points respectively.

[bugle4] 30/9/2015 14:53

Eland Oil & Gas PLC Interim results for the six months to 30 June 2015
Date : 30/09/2015 @ 07:01
Source : UK Regulatory (RNS & others)
Stock : Eland Oil & Gas (ELA)
Quote : 44.25 -2.25 (-4.84%) @ 14:31

[bugle4] 29/9/2015 16:33

Eland’s fair value is 116p according to our NAV model, 150% above its 46.5p market price. We believe the market is overestimating the problems that both the companies will face in the coming years. In particular, we think that while Nigerian regulatory change is inevitable, it is unlikely that indigenous companies such as Seplat and Eland’s JV subsidiary Elcrest E&P will be greatly affected. Getting paid their cash calls on the NPDC will be challenging, but both companies are working on payment structures to manage this risk. The continued divestiture of onshore/shallow water Nigerian licences by international oil companies, a new marginal field licence round and commercial domestic gas pricing should present great scope for creating value over the next few years.

[bugle4] 29/9/2015 16:30

Nigeria focussed oil and gas firm Eland (LON:ELA) could be worth more than double its current share price of 48p, according to broker RFC Ambrian.

“Unusually for an oil and gas company, Eland is a growth stock,” analyst Stuart Amor said in a note.

Amor predicts Eland, which started the Opuama field within the OML 40 licence during February 2014, will see a threefold rise in production both next year and in the year after that.

Opuma, which currently yields about 2,750 boepd, could be flowing some 30,000 boepd by 2017 if everything goes according to plan, Amor added.

“Eland is about to grow its oil production substantially,” he said. “We believe that the equity market, which tends to look at oil companies as value stories, is not reflecting this growth appropriately.

“We forecast that Eland’s average net oil production rate will rise roughly threefold both next year and the year after (albeit from a low base).”

Ambrian has now begun its coverage of Eland with a ‘buy’ recommendation, and has set a price target of 116p per share.





Although looking at today's share price I guess the market isn't expecting it to. :))

[bugle4] 11/9/2015 21:47

Equities researchers at Canaccord Genuity cut their price objective on shares of Eland Oil & Gas PLC (LON:ELA) from GBX 140 ($2.13) to GBX 130 ($1.97) in a report issued on Friday, Analyst Ratings Net reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity’s target price would suggest a potential upside of 141.86% from the stock’s current price.

[dukedosh] 19/8/2015 12:07

In the last update, the company stated production at 2750 bopd, based on "production days". That equates to around 950 bopd based on the reported actual liftings. That's a heck of a difference which can only mean a heck of a lot of downtime and shut ins. Currently, I cannot see how the company will monitise their assets at current oil prices.

[mr.oz] 07/8/2015 07:23

Thoughts now on ELA please?

[flyingbull] 31/7/2015 18:06

The August oil stock challenge is now on. Deadline for entries is midnight on Sunday.



Good luck!!!

fb

[bugle4] 11/5/2015 09:49

Looking good for a rise to 70p methinks

NAI DYOR

[fillipe] 25/4/2015 17:17

10TH April, Canaccord reiterates BUY with a 150p tp ....almost 3x the share price at the time. No wonder the modest uptick in recent days to a mere 59/60p, so lots still to look forward to with ELA.
There are 5 brokers forecasting for ELA. More or less all BUY and consensus eps loss of 4.69p for 2014, but a positive 9.76p eps for 2015

NAV - 2014 106p and 2015 115p

No wonder there's been a bit of a flurry recently....so far - just the start!

f

[bikwik] 02/4/2015 09:18

Cantor Fitzgerald has become the latest City broker to get excited about the prospects for West-Africa focused Eland Oil & Gas (LON:ELA).

It has started covering the share, recommending investors 'buy' and setting a target price of 178p - not far off four times the current price of 46p.

Eland is focused on production and development in the onshore Niger Delta and the core asset is OML 40, which plays host to the Opuama field along with multiple discoveries, further prospects and infrastructure.

In the last quarter of 2014, OML 40 generated more than 3,500 bopd from two existing wells at Opuama.

Cantor's Emily Ashford said: "The company restarted production on Opuama in February 2014 and 1H15 will see the start of a well re-entry and development drilling campaign that could result in gross production of c.22,000bopd in 2016, over seven times current volumes.

For the rest of 2015, the group plans two re-entries on the Opuama field.

One should add 400-600 bopd and it is expected to come onstream in May, with a more significant sidetrack well likely to come onstream in late Q3 adding around 3,000 bopd.

In last week's operations update, Eland said its planned work programme, with the mixture of re-entry and new development wells, "will result in 2015 being a transformational year for Eland with material increases in production and revenues".

Broker Canaccord repeated a 'buy' on Friday and lifted the target 15p to 155p, saying: "This new-found consistency of delivery, allied to the strong balance sheet, and a softening cost environment, provides an excellent basis for future growth."

[flyingbull] 31/3/2015 12:26

The April oil stock challenge is on! Deadline for entries is midnight tonight! Good luck! fb

[don777] 20/3/2015 17:15

RDSB Rns 20150320:

"SPDC completes sale of oil mining lease 18 in nigeria

The Hague, 20 March 2015. The Shell Petroleum Development Company of Nigeria
Limited (SPDC), a subsidiary of Royal Dutch Shell plc (Shell), has completed
the assignment of its 30% interest in oil mining lease (OML) 18 and related
facilities in the Eastern Niger Delta. Its interests in OML18 were assigned to
Eroton Exploration & Production Company Limited. Total cash proceeds for Shell
amount to $737 million.

This divestment is part of the strategic review of SPDC's onshore portfolio and
is in line with the Federal Government of Nigeria's aim of developing Nigerian
companies in the country's upstream oil and gas business.

Shell has been in Nigeria for more than 50 years and remains committed to
keeping a long-term presence there - both onshore and offshore. Through SPDC
and its other Nigerian companies, Shell responsibly produces the oil and gas
needed to help fuel the economic and industrial growth that generates wealth
for the nation and jobs for Nigerians.

OML18 covers an area of 1,035 square kilometres and includes the Alakiri,
Cawthorne Channel, Krakama, and Buguma Creek fields and related facilities. The
divested infrastructure includes flow stations together with associated gas
infrastructure plus oil and gas pipelines within the OML. The divested fields
produced on average around 14,000 barrels of oil equivalent per day (100%)
during 2014.

Total E&P Nigeria Limited and Nigerian Agip Oil Company Limited have also
assigned their interests of 10% and 5% respectively in the lease, ultimately
giving Eroton Consortium a 45% interest in OML18.

All approvals have been received from the relevant authorities of the Federal
Government of Nigeria.

Notes to editors:

SPDC is the operator of a joint venture between the Nigerian National Petroleum
Corporation (55%), SPDC (30%), Total E&P Nigeria Limited (10%) and Nigerian
Agip Oil Company Limited (5%). "

[rupert1] 17/3/2015 20:09

New low today. This chart does not look great. Really not sure if I should be piling in or baling out !

[fabius1] 05/12/2014 17:55

I notice they alluded to the possibility of a dividend at some point. Was this addressed at all? I don't expect very much but it would be probably cover the opportunity cost of capital.