DelBoyTrading
10 Jan 2017
Re: Help: Tax rate query The governments take rises because the 20% royalty of $60 dollar a barrel is higher than 20% of $50. In other words, they receive another 2$ per barrel. The same applies to the PSA which I believe is 55% NNPC / 45% Eland. 55% of $60 is higher than 55% of $50, thus the rise.Focus on the DPIR's....Marginal field operators (such as Eland) are also eligible for a five year tax holiday under the pioneer status, which I believe started in 2014Page 20 of your KPMG document
Contrariwise
10 Jan 2017
Help: Tax rate query Hi, I am confused by the numbers on page 24 of the last presentation:[link] "Govt Take/Boe" seems to rise as a percentage of the oil price, as the price of oil goes from $50 to $60. As a result the company's post tax profit seems to be inversely related to the oil price. This seems wrong. Does anyone understand the calculation? I have emailed IR about this today.Also, according to KPMG the Nigerian Petroleum Royalty tax is levied at 85%, discounted to 65.75% for the first 5 years. Or is 50% for production sharing agreements for deepwater developments (this does not apply to Eland). These tax rates seem punitive. Does anyone know what the tax rate Eland can expect to pay is? [link] value is currently around $60m. It is expecting to produce around 10k bopd. If the company makes $15 in post tax profit (as per the presentation) then Eland is on a PE ratio of 1. However, if the tax rate is 85%, then it is much less profitable. The tax rate is crucial for understanding the investment case. Anyone understand it?
sufi sb
05 Jan 2017
Re: Is there any reason to invest in this? Hi Clarence. Just look at the presentation. Payback from the current wells and wells coming online is 11 days - 13 days - 16 days when oil was at $50 It's at $60 now and stockpile is being built up. One this is for sure, when they get the different route sorted and they will then this will have so much cash flow coming in the sp will 100% double in a matter of weeks. I have done extensive research and found the following that makes eland stand out against afren, lek oil n other NigerianProducers. - company is not HQ in Lagos Nigeria but in Scotland Aberdeen. - the brokers and contact addresses n details have nothing associated with Nigerians. - registration is not in Nigeria. - majority of senior personnel not Nigerian and intact trusted / respected Scottish n other nationality businessmen. - doesn't seem to have any nasty hidden mates rates or dodgy personnel on board. - no debt or will be debt free very quickly - no black market finance received or third part involvment here. - management will wait a few years and diversify all the money and invest it away from Nigeria n probably in to North Sea n more stable areas closer to HQ. - multi-bagger potential here with production levels at records. I'm not invested but did my last due diligence today. I'm in Friday. 50k shares. Buy 40p TP £1.40 within 12 months.
Clarence Beaks
05 Jan 2017
Is there any reason to invest in this? I cant find one personally. Hate oil, hate the region their in, constant attacks and lack of revenue from production. Any one got any other thoughts?
MacPithy
22 Nov 2016
Re: AND. Yet another pipeline attack!!! More of the same attack on repair crew unrest still on going[link]
Clarence Beaks
19 Oct 2016
Yet another pipeline attack [link] hope some day it ends, but very unlikely at the moment.
MacPithy
27 Sep 2016
Re: Analysis visual report on Eland Oil ... Re your comments regarding revenue generation still hold and still no clarity as to when cash flow will resume although Eland are saying soon?But even if repairs allow resumption The threat still exists and until and if it adds more export routes this share price is subject to influences out of the company's control.Any news worth discussing re repairs etc. Same as Gulfkeystone's earlier days loads of oil but can't monetise it!!!
Clarence Beaks
24 Aug 2016
Why the rise? (nm)
Clarence Beaks
05 Jul 2016
More attacks [link] really like to buy back into Eland sometime, but its pointless knowing my hatred now of oil shares and these attacks just will never end it seems.
GORILLA_TOES
13 Jun 2016
3 shares that could double in a year: Eland Oil Motley Fool 08/06/2016A terrific oil play?It’s not often that we see a small oil company that’s financially sound and has great earnings growth forecasts, but has suffered a share price crash — but that’s what we see at Eland Oil & Gas (LSE: ELA).Forecasts suggest a massive escalation of earnings in 2017 — and with the shares currently trading at 26.9p after having fallen by 66% in the past 12 months, that would give us a P/E for this year of a modest 5.7, falling to less than 1 in 2017! On the liquidity front, Eland has recently completed a $15m share placing, which should see it in a comfortable position. So why are the shares so cheap?The big issue is that Eland operates mainly in the Niger delta in Nigeria, a country that is battling Boko Haram militants who are set on trying to destroy the country’s oil and gas infrastructure. But only last week Eland rejected “unsubstantiated press speculation” and confirmed that its operations are unaffected. It’s risky, but barring any catastrophe, Eland could become a nice multi-bagger.[link]
DukeDosh
03 Jun 2016
Delta Avengers Militants ABUJA, June 2 (Reuters) - The Niger Delta Avengers militant group said on Thursday it had blown up two crude pipelines in Nigeria's Bayelsa state in the Delta area."At about 2
0am today @NDAvengers blew up the Ogboinbiri to Tebidaba and Clough Creek to Tebidaba Crude Oil pipelines in Bayelsa State," the group said on a twitter feed it uses to claim attacks."This is in line with our promise to all international oil companies and indigenous oil companies that Nigeria oil production will be zero." (Reporting by Ulf Laessing; Editing by Angus MacSwan)
Simbrad
31 May 2016
Panmure published a note this morning... Eland reported a net loss for FY15 of US$6.8m, less than half that of FY14, on higher revenue and lower costs. After deducting non-controlling interests, the company generated earnings per share of US$0.13 (FY14 US$0.07), well ahead of our US$0.08 estimate. Following the successful US$18.5m equity raise, Eland could exit this year with net production of around 10kbd, on completion of the Gbetiokun and Ubima Early Production Systems (EPS). The FY16 revenue outturn remains subject to restart of the Forcados export system. It's available on Research Tree
DukeDosh
29 Apr 2016
Re: $15m Placing 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, like ClarenceB, 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 equats to?Still far too much geopoltical risk here for me, but as a former holder, I continue watch with interest.
DelBoyTrading
29 Apr 2016
Re: $15m Placing The company did not "desperately" need funds at all. They could have quite easily sat back and waited untl the pipeline was reopened and sufficients funds generated sold from enhanced production could be used to fund other projectsUnfortunately shareholders dont like companies just sitting doing nothing. Infact it doesnt appear that shareholders like companies actually doing something either
DukeDosh
29 Apr 2016
Re: $15m Placing Sometimes, investors need to look at something other than a chart! 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?
