Eland Oil & Gas Share Discussion Threads

[awise355] 23/1/2019 17:45

Being added to the ftse aim 50

[podgyted] 21/1/2019 20:35

Don't ya just luv bots.

[podgyted] 21/1/2019 09:29

None on Friday and it doesn't look there'll be any today. Share Magazine is evidently tipping quite hard and perhaps the market has woken up to the good news flow in the recent past.

[podgyted] 19/1/2019 13:11

Share Buyback.

19th Nov 2018: "Eland Oil & Gas PLC (AIM:ELA), an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, announces that it intends to commence a share buyback programme for a maximum aggregate consideration of up to £3.0 million (the "Programme"). The Board believes that the current share price substantially undervalues the Company's assets, the performance of the business to date, and its prospects. The Company's robust balance sheet provides the opportunity to take advantage of prevailing market conditions to repurchase shares at advantageous levels."

So far 1,007,220 shares have been purchased for £1,100,044 (avg 109p).

487,135 were bought in Nov for £530,194 (avg 109p)
469,679 were bought in Dec for £507,724 (avg 108p)
50,406 have so far been bought in Jan for £62,126 (avg 123p)

From 20/11/18 to 13/12/18 shares were bought on every working day then stopped - not sure if for closed period or other reasons.
On 14/1/19 purchases restarted - data does not include 18/1/19 which may be reported Monday or may not have had any purchases due to 5 day 5% rule (Friday close 129)

[podgyted] 16/1/2019 20:28

Continues to increase on very large volumes (today 4x normal). Seems possible someone is building a stake.

[podgyted] 15/1/2019 11:47

Excellent update this morning - Nigeria seems the place to be if you can stand the risk - and perhaps that risk is overstated. Nigeria is the biggest economy in Africa and they do at least seem to be aware of their problems - we'll see if they start sorting them.

[podgyted] 10/1/2019 21:25

Very large volumes over last 2 days.

[glenbo1] 10/1/2019 07:17

To think when brexit was announced this was at 20p

[gersemi] 10/1/2019 07:16

Another decent update from a great little company operating in a dreadful part of the world (politically, that is).

[podgyted] 05/1/2019 13:41

The shares, on any parameter you want to use, seem to be extremely good value. The board has recently started a BB stating this reason.

Therefore a TO is a reasonable possibility, although free float is only 60% in ELA rather than the 99% in Ophir - but everything has its price even the company you started and built up.

I think that M&A in the medium to small arena will increase and we are already seeing evidence of this - why explore when you can buy cheap proven assets?

On the downside ELA is a one trick pony geographically - however if someone wants to buy into/ increase in Nigeria it must look very attractive - not just for assets but the management team.

I'm optimistic either way - takeover or grow and rerate.

[adg] 02/1/2019 14:18

Any thoughts if Ophir potential bid may have knock on effect here?

[mr.oz] 29/11/2018 21:20

I missed this welcome news this evening. Click the link above to get the full info but.....

29 November 2018

Eland Oil & Gas PLC

("Eland" or the "Company")

Refinancing of Reserve-Based Lending Facility

Eland Oil & Gas PLC (AIM: ELA), an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, is pleased to announce the following update on its revised debt facility

[shallwe] 20/11/2018 09:37

Although a share buyback can help the SP, I'm not overly convinced that this does the job particularly well all the time.Surely it would have been better to issue a small dividend instead? That nearly always helps the share price which is what George wants to do.

[billionairepaddy] 19/11/2018 17:02

I would never touch anything that brian o cathain is involved with
petroceltic had the biggest gas discovery of the year in Algeria about 5 years ago and with all his bad management he lost control to a Russian company who are now selling loads of gas from that field
he caused me to lose a fortune in petroceltic
he did something similar with a previous company
he is nt a crook but just has nt a clue how to do his job
investors YOU HAVE BEEN WARNED

[podgyted] 19/11/2018 07:54

"Eland Oil & Gas PLC (AIM:ELA), an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, announces that it intends to commence a share buyback programme for a maximum aggregate consideration of up to £3.0 million (the "Programme"). The Board believes that the current share price substantially undervalues the Company's assets, the performance of the business to date, and its prospects. The Company's robust balance sheet provides the opportunity to take advantage of prevailing market conditions to repurchase shares at advantageous levels."

[podgyted] 19/11/2018 07:53

Good move. Shares undervalued and plenty of FCF - putting their money where their mouth is.

[mr.oz] 19/11/2018 07:03

Didn't see that coming. Quality.

[mr.oz] 16/11/2018 14:52

New corporate presentation.

Professional outfit. Revenue growth escalates and will be huge

[rolo7] 29/10/2018 10:47

0.96p buy we all wish!

[danboris2] 29/10/2018 10:39

These are such a strong buy IMO. Looking for double the share price over next 12 months

[mr.oz] 29/10/2018 10:37

That 9 million trade was Non Exec Director purchase. Wow.

[sandoval] 28/10/2018 13:32

It's not era specific imo, institutions are simply reducing exposure.

[fionascott1234] 28/10/2018 12:40

Help...Why the serious selling on Friday considering the healthy update?

[adg] 19/10/2018 15:24

Sold recently at 119 after holding for 2 yrs.
Just bought back in.

[cartonet] 12/10/2018 18:54

Seplat is Nigerian and Eland Scottish, makes all the difference !