Eland Oil & Gas Plc

0.00 (0.0%)
Share Name Share Symbol Market Type Share ISIN Share Description
Eland Oil & Gas Plc LSE:ELA London Ordinary Share GB00B8HHWX64 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 165.80 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
165.60 165.80
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 165.80 GBX

Eland Oil & Gas (ELA) Latest News

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Eland Oil & Gas (ELA) Discussions and Chat

Eland Oil & Gas Forums and Chat

Date Time Title Posts
08/8/202120:04Eland Oil & Gas (LSE: ELA) could become a nice multi-bagger.117
04/1/202018:14Eland oil & gas plc761
12/10/201818:54ELAN back from the depths (again !!)9,488
13/10/200800:58ELAN CORPORATION (IRE) infinite thread ....8
24/6/200810:11Peers Carter tips Elan81

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Eland Oil & Gas (ELA) Most Recent Trades

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Eland Oil & Gas (ELA) Top Chat Posts

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Posted at 15/10/2019 20:39 by jbfnfn
Is this a fair offer? Anyone a view on the price 166p?

Ok it's the usual 30% takeover premium to the low 120s price for the last few months. But the management were buying back shares in the low 120s (addmittedly not enough to shift the price). Presumably the management thought they were significantly undervalued in the low 120s.

Interim statement from June 2019 positive. A second oil field and the prospect of a first pure exploration well.

I have a small holding here. I thought I'd found a decently run outfit with some good prospects. I was hoping for a much higher share price than 166p a few years down the road. Now the chance is gone.

Posted at 15/10/2019 09:58 by shallwe
Really please for the share holders of ELA. I have been in and out (mostly in) for s few years now with my original buys around the 50p mark and making lots of profits along the way. Although I missed out on this, I'm pleased for those that started put.
Posted at 15/10/2019 09:12 by matt123d
No indication in the price action there.
Posted at 11/7/2019 07:46 by ntv
taken a small position here
cash generation, increasing production and maybe hopefully a dividend
They should really be increasing the share purchases as at the rate they are buying them it is pretty pointless
just means they issue an RNS each day
The board says the price is too low so why not start buying in bigger numbers
Any the total value of the buyback is only £6m
might as well have paid that as a dividend because the only companies that will do ok (as we go another financial crisis) are the ones that pay a sustainable dividend

Posted at 04/7/2019 11:15 by alotto
Odd dynamics, positive reaction to a target price cut. The forecast price still attractive and possibly seen as more realistic?
Posted at 10/6/2019 06:48 by lukmanpatel
Another troll by the username lsehotdealz haha, share price is stagnant and there’s talks of fundraise at 10p on that board lol desperation has lead to going round posting on different board to prevent share price from dropping, usually ud stay quiet and average down and accumulate if you see huge potential lmaoo he’s spamming all the boards and a newly registered today as a member lol
Posted at 05/2/2019 10:23 by podgyted
Eland got into the AIM 50 because of it's recent share price performance and the liquidation of Pattiserie Valerie (CAKE) therefore a slot became available.

Recent Buyback activity suggests Eland will buy at 125p or lower, theoretically giving a floor to the share price. They said they started the Buybacks because the shares were cheap (then @108p). IMO they are still cheap at 125p.

That better?

Posted at 19/1/2019 13:11 by podgyted
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)

Posted at 18/9/2018 07:35 by cartonet
Dear Subscriber,

This is a weekly insight of news and events in the Power, Oil and Gas industry in Nigeria and around the world. This roundup is for the week ended August 24, 2018.

If you are an Oil and Gas Investor or stakeholder then this Newsletter is tailor-made for you. You can also subscribe to our other Newsletters and have some of the best insights from the world of investing in Nigeria, straight in your mailbox.

We also love feedback, so, do send us some as we continue to make this Newsletter informative and useful to you our subscribers.

Cloud of darkness on Oil blocks renewal
In an earlier newsletter, we discussed the pending renewal of a number of upstream leases in 2017/2018. The renewal of assets is a risk for oil and gas operators as they could be revoked or approval gets delayed despite the assurances the Petroleum Act offers.

The Petroleum Act describes the conditions to qualify for asset renewal which includes payment of outstanding royalty debts and liabilities to the government.

Recently, the Directorate of Petroleum Resources (DPR), the agency charged with administering licenses and directly under the supervision of the Minister of Petroleum has reported earnings of $1 Billion from the renewal of Oil Mining Leases (OMLs) and Oil Prospecting Licenses (OPLs) in 2017.

The details of the assets renewed, amount received, and owners of the renewed leases are unavailable. The syndicated press release by DPR was decidedly ambiguous and incoherent.

Malfeasance thrives in darkness. Did all the companies meet the prescribed criteria? Were there any change is asset sizes? Were the renewal fees the best the country can get? Many questions, no answers. DPR even brushed away questions from the House of Representatives.

The industry grows with transparency, with public information on renewed assets, businesses, SMEs, financial institutions, NGOs and the public at large can make better decisions, and the industry thrives.

Katsina Refinery: Delay or Denial
A few weeks ago, we outlined our thoughts on the feasibility of the Katsina refinery and Niger pipeline project. Our analysis suggested the project may be feasible given the economics of the upstream company driving the project.

We may have missed a few things there because the company in question, Savannah Petroleum has now signed an ‘early production agreement’ with the Nigerien government to use the Chinese built Soraz refinery. This is only a few weeks after the same Nigerien government signed a Memorandum of Understanding (MoU) with its Nigerian counterpart.

From our analysis, this may be a temporary setback for the Katsina refinery given the limited size of the Soraz refinery, Savannah Petroleum has seen stunning success in its exploration activities in Niger recently prompting the decision to fast-track development. Katsina might work if Soraz cannot handle increased capacity, but then the Chinese might just expand to accommodate increased production capacity. We will be watching developments on this.

Seplat – The Gas and Oil Company
Seplat Petroleum is transforming to a gas company with some oil. Since acquiring Shell’s stake in some Western Niger Delta assets, the company has blossomed from an upstart to a thriving, result-oriented business, continuously delivering value to stakeholders.

Becoming a gas company may have been by circumstance as the assets they have acquired have mostly been gas rich but they have doubled down, developing a reputation for quick project delivery. It’s a peculiarly integrated and diversified indigenous company with a balance of upstream oil, upstream gas and midstream gas portfolios.

The company has moved eastward of its current base as it seeks to develop the Assa North Ohaji (ANOH) gas-rich fields. Assa North is actually owned by Shell/NNPC while Ohaji South is owned by Seplat/NNPC (bought Chevron’s stake).

Before Seplat’s acquisition of Chevron’s stake in Ohaji South, Shell was designated to develop midstream facilities for ANOH but they slept on it. With Seplat, the sprightly and more ambitious company in play, they were better positioned. Now, it’s going to develop ANOH’s 300 mscf/d processing facility with NNPC’s subsidiary, Nigerian Gas Processing and Transportation Company via a wholly midstream vehicle.

Seplat’s midstream strategy is curated to take advantage of tax benefits. With ANOH and potential future expansion, a central processing facility (CPF) is being established in the east, a critical thrust of the 2008 Gas Master Plan.

Location is very ideal too as it is proximous to the 42 inches Oben – Obiafu/Obikrom interconnector pipeline. We assume the completion of the OB-OB3 is a conditions precedent for the ANOH project. Overall, the ANOH project provides a huge benefit to everyone – domestic gas market, Seplat, NNPC, FIRS.

Eland Oil – Rising Star
UK headquartered Eland Oil is top contender for our Independent Oil Company of the year. Its meteoric rise in the last 12 months is unrivalled in the industry. A successful 4 well campaign has given rise to 100% increase in oil production (from 12,000 bopd to 23,000 bopd), alternative evacuation options have been secured, OPEX significantly reduced above peer facility uptime recorded and to top it an 80% increase in share price on the London AIM.

An investment of $1 Million in March 2017 would have yielded $1.8 Million within one year. Exceptional performance, by any standard.

Its future is bright. Improved cashflow has given the company headroom to pursue the development of Ubima field, a farmed-In marginal field owned by All Grace Energy Limited. With Gbetiokun and Ubima fields in the horizon, Eland is positioned to accelerate beyond its peer companies in the nearest future.

NB: Professor Adebulugbe, a former Special Adviser on Energy to President Obasanjo is the public face of All Grace Energy Limited, the owner of the Ubima field.

An Encore on the broken power market

We are publishing again our recent commentary on the current broken power market

Never in our history have we witnessed the current public mudslinging between private operators and government. A frustrated Minister of Power launched a public tirade against the DISCos (Electricity Distribution Companies) perceived inefficiencies and the Discos replied with a very uncomplimentary published statement.

As this newsletter has warned repeatedly in the past, the power market is significantly broken. Broken beyond normal repair, hence the frustration on both sides as solutions seem remote and beyond the parties. Yes, the solution is beyond the Power Minister or the Discos. It’s with the President.

The simple but key reason for the state of the market is lack of enforcement. Seems very simplistic but enforcement of the rules (of law) is the pivot on which economic prosperity or in this case a successful market stands.

The problem of lack of meters, transformers etc. are ‘chicken and egg’ as investments would only follow an orderly and predictable market. Enforcement of contracts: Discos and Customers, Discos and NBET, NBET and GENCOS is the key to repairing the market but it takes a steely will from the top of the hierarchy to address the issue.

Discos have poor revenue collection metrics because of managerial inadequacies and lack of consequence for stealing power or avoiding payments. The enforcement of the contract between the DISCo and customers is an onerous job but very critical to the health of the market.

The President needs to consider this seemingly simple issue as a priority, emphasizing to the nation the importance of payments, rallying round law enforcement and penalties on government-owned agencies and individual customers. What is a market if the rules cannot be enforced? And enforcement is sadly beyond the Minister of Power of Disco’s capabilities.

With enforcement of rules and contracts (fuel contracts, PPAs, Vesting Contracts, Transmission tariffs, MYTO) across the chain, losses will crystallize at the weak nodes. NBET may become insolvent, MYTO reviews may not be totally cost reflective but the process isolates the areas that now need interventions and temporary subsidies.

The current process of throwing subsidies across the power value chain is creating a moral dilemma and perpetuating indiscipline. The World Bank which currently supports the power sector may attach conditionalities that encourage enforcement of rules in its future interventions.
Without the rules, chaos beckons.

Posted at 13/10/2017 15:11 by fillipe
Today's IC paper mag has an excellent 2/3rds full page BUY article on ELA.

In this very fair mention they also point out that at the current at time of their writing, the ELA share price of 63p is only a half of Peel Hunt's risked NAV.

Looks good to me...



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