Eland Oil & Gas Share Discussion Threads

[mr.oz] 31/5/2016 21:59

You mean, as if it was an aim scam?

[awise355] 31/5/2016 16:18

Looks a good company but concerned that in no rns's did they mention or highlight for shareholders in any great scale that revenue had stopped due to the terminal issues!

[mr.oz] 26/5/2016 16:47

Just notice Peel Hunt lifted their Buy TP to 76p last week

[thomasthetank1] 03/5/2016 12:07

Read Panmure Gordon & Co's note on ELAND OIL & GAS PLC (ELA), out this morning, by visiting hxxps://www.research-tree.com/company/GB00B8HHWX64
"On Friday, Eland announced that it had raised an upsized US$18.5m at a premium to the prior close. In total 37.4m new shares were issued, including 0.9m non-voting shares issued to Helios. The principal objective of the fund raise is to advance the Gbetiokun Early Production System. We adjust our forecasts to reflect the direct impact of the issuance and revise our ..."

[dukedosh] 29/4/2016 15:05

Very successful placing result for the company indeed, but as usual at the cost to LTH, circa 15% dilution . I doubt they would have needed to do this if the TF were operational.

I would have liked to see insiders with substantially more skin in the game. Only George Maxwell has a serious interest here. I used to hold more shares here than all the rest of BoD put together!

For me, future pipeline disruptions are going to be frequent as the infra structure ages and a ramp up of sabotage has been promised.

Also interesting that pipeline losses / theft from the TF are rising. The reported 12% is indeed a big number loss. I wonder how many black market tankers that equates to?

Still far too much geopolitical risk here for me, but as a former holder, I continue watch with interest.

[dukedosh] 29/4/2016 12:24

With zero revenue being generated because the Forcados export pipeline has been out for months, it surely comes as no surprise to anyone that the company desperately needed funds, hence the placing.

Over the years this outfit showed blue sky potential but delivered no jam for investors. Will tomorrow be any different?

[mr.oz] 29/4/2016 10:02

Certain of the Company's major shareholders as well as certain directors have indicated a willingness to participate in the Placing

Some more Announcements expected to confirm

[edgein] 29/4/2016 09:11

Book building at a good price to keep the wolves away until the June taps come on again. Still relatively safe houses given the recent flow rate.

Regards,
Ed.

[plastow] 28/4/2016 13:03

Looking ok on the daily shooting star sorted the hype out still on my radar!!

[mr.oz] 27/4/2016 10:00

Market prices rising in this time, duke - perhaps a silver lining
Looking more interesting this company

[dukedosh] 27/4/2016 09:47

RNS confirms the company cannot get their oil to market with Agip and Forcados export pipelines both down.

Buried in the RNS the company states, "....As at 31 March 2016, the Company had a cash balance of $5.7m, with the last crude oil sale taking place at the end of January 2016....."

[edgein] 27/4/2016 08:18

Well that's at least a reasonable NPV on Gbetiokun, not quite as impressive as the recent news on Opuama though. that was the best well from an AIM company in many years.

Regards,
Ed.

[plastow] 26/4/2016 10:58

Mr 10.000 man has pumped it now he's dumping it!!!

[danboris2] 25/4/2016 12:09

I think this is going a lot higher if they can keep up the positive news flow... Especially if oil prices continue their upward momentum. Strong buy IMO

[edgein] 25/4/2016 11:57

Good lord! 10584bopd! They're gonna need those barges. :)

George Maxwell, CEO of Eland, commented:

"We are very pleased to announce the successful completion of the Opuama-3 re-entry and the strong results from flow testing the well. The results are beyond the high end of our previously announced expected range of 2,000-4,000 incremental gross barrels of oil produced per day. The two newly perforated reservoirs have proven to be highly productive. The initial combined flow rate from Opuama-3 well of 10,584 barrels of oil per day will move on normalised production, but will still be well in excess of our previous forecast.

Following this significant success we now move our focus to the Gbetiokun-1 workover well, also on licence OML 40. Our current plan is to commence operations on this high quality asset in the second half of the year, and we anticipate that a successful workover will lead to our current forecast of gross production in the range of 5,000-10,000 barrels of oil per day from the Gbetiokun-1 well"

Regards,
Ed.

[edgein] 25/4/2016 09:05

Regards,
Ed.

[adg] 23/4/2016 11:23

I would give it another 20% before looking to take some profit

[plastow] 22/4/2016 16:19

Made some good money on these over the last couple of weeks but now the indicators are saying overbought!! Let's see if it reverses a little??

[laptop15] 01/4/2016 20:29

Thanks a million duke!! That's a great list to read and i'll have a look into canacol too :))

[dukedosh] 01/4/2016 19:46

RKH and HUR are both on Malcy's bucket list so take a look at this for his opinion:

FWIW, currently my largest O&G holding is Canacol Energy (CNE:CA) listed on TSX. Well worth a good look IMO.

[laptop15] 01/4/2016 19:30

Cheers for the info dukedosh....worth considering what you are say :-) do you have any alternatives that i could research and maybe switch too. I'm looking just for another AIM oil company. What do u think on the other oil companies i currently have? Mutton dressed as lamb or the real deal...lol?Cheers man

[dukedosh] 01/4/2016 19:16

Brokers on retention are paid to give high estimates. They're all at it. For example, in the Oct 15 presentation 1 broker had this as outperform, 7 others buy and 1 hold. share price was 48.8p. You would have halved your money believing their blurb and spin in less than 6 months!

I don't offer advice, just opinion of stocks I hold, trade and on my watch list.

The ops update indeed read well. They always do! However, since the Feb ops update, the TF has been off line for sabotage repairs. I hear that the Agip is now off line too, due to an explosion, killing workers. Not a lot, if any, oil is getting out of Nigeria currently. Shell announced force majeure on TF cargoes back in Feb. ELA has some storage capacity but IIRC it is only a couple days worth production or so. With this in mind, where and what is the current revenue stream? My guess FWIW is probably close to zero!

The $30 break even was mentioned in previous guidance, IIRC. This figure is a tad lower than some of its' peers, i.e., SEPL is around $35.

This company have always flattered to deceive. Sure there is huge potential, there always has been. However, to date, this outfit sadly lacks delivery of the jam. ........Maybe tomorrow will be different? ;-))