broomfielder
28 Apr 2016
$15m Placing Not cash strapped, but the firming of oil prices in conjunction with the planned reworking of the Gbetiokun-1 well (+ $5m working capital) combined to produce the inevitable placing (@ 34p ps).I should have known better - as others have already themselves learned - oilies aren't for everyone and despite being bitten with this one earlier I thought I could ride a bit of recovery in the SP on the back of firming oil prices. Now it seems a more distant hope before my latest losses are reversed. However if the oil price holds around the current $45 per barrel, this one should come good in time with of course the huge caveat of being a Nigerian operator where the usual risks are simply multiplied x times.I have however been here before it seems. Please DYOR!!B
Clarence Beaks
28 Apr 2016
Re: RNS This company will forever be blighted with pipeline issues. As DD will know, I was once an investor and get tempted by 34p share price but I can't see in this climate and so many pipeline issues anything good happening quickly.Good luck though. No more oil investments for me sadly. All a waste of time.
DelBoyTrading
27 Apr 2016
Re: RNS It also confirms that they are not "cash strapped"Previous RNS confirms that their assets are producing 100% more than estimatesMassive upside
DukeDosh
27 Apr 2016
RNS 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....."
DukeDosh
30 Mar 2016
Re: Analysis visual report on Eland Oil & Ga... With Trans Forcados out until May at least, there's little revenue generation going on here. With more pipeline and infrastructure issues, vandalism, sabotage, etc., , a high break even oil price at around $30 / bbl., and what must be now a cash strapped company, it's difficult to see how the company will monitise their assets in the short to medium term. Looks to me like a classic value trap even when oil price rises. As far as that report goes, it lacks detail but it's worth remembering Nigerian O&G outfits are way undervalued for very good reason. My previous posts of last year about this outfit are still pertinent. As usual, this is all in my opinion, of course.
mcescher
30 Mar 2016
Analysis visual report on Eland Oil & Gas The analyst consensus for ELA is look very bullish over the next few years, what do people think? [link]
Clarence Beaks
16 Nov 2015
GL to Eland but................. Im taking out my portfolio watchlist. not for me.
Clarence Beaks
24 Aug 2015
Re: Little excitement for ELA In this cl... Thats a shame DD because youve always been a great fan of ELA I remember.Personally it's too risky for me at the moment and I'm sick of oil stocks anyway. None of them are any use.
DelBoyTrading
20 Aug 2015
Re: Little excitement for ELA In this climat... With a breakeven in the region of $30 which is probably lower by now and 5 years tax free I see no evident issues as of yet
DukeDosh
19 Aug 2015
Re: Little excitement for ELA In this climat... 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.
Clarence Beaks
08 Aug 2015
Little excitement for ELA In this climate not really sure these are going anywhere fast at the moment. I dont hold, and probably wont at present.
MacPithy
12 Jun 2015
Football? Any ideas as to why Mogan Stanley and Henderson have been playing footy with this share?Has this produced a significant upward trend in the SP??Re in light of Nigerian economy bank restraints in the country plus the oil price uncertainty one wonders why?
dickie3times
06 Apr 2015
Will oil price keep rising? US oil settles up $3, or 6.1%, at $52.14 a barrel2 Hours 30 mins agoReuters[link] oil rallied 6 percent on Monday as traders re-assessed how quickly Iran could increase exports after a preliminary nuclear deal and anticipated that a months-long rise in U.S. inventories may be slowing.U.S. crude for May delivery closed up $3.00, or 6.11 percent, at $52.14 a barrel, its largest one-day gain since February 3. Brent crude for May delivery was up $2.90 from Thursday at $57.80 a barrel.Brent crude tumbled nearly 4 percent on Thursday after Iran and six world powers announced a framework agreement on the OPEC member's nuclear program. But initial expectations of a quick recovery in oil exports were tempered by views that it could take up to a year to roll back sanctions."While clearly a bearish headline, a final deal and full lifting of sanctions still faces a number of obstacles," Morgan Stanley analysts said in a note.Iranian finance, energy sectors could soar on deal"Even if a final deal is reached, we do not expect any physical market impact before 2016," the analysts said.Oil extended gains after industry intelligence group Genscape reported that stockpiles at Cushing, Oklahoma, barely rose last week, according to traders. It would be the smallest increase in stocks since November at the delivery point for the U.S. crude contract traded on the New York Mercantile Exchange.A Genscape official was not immediately available to comment.
Clarence Beaks
19 Mar 2015
Re: At Last - An Ops Update! The brokers seems to like it and keep upgrading, not that I have any faith in what they say in terms of SP valuations. Often wrong.
MacPithy
11 Mar 2015
Re: At Last - An Ops Update! Looks like a cautious approach to their production plans is warranted, if they go ahead with capex expenditure to increase production they have to be confident that the export pipeline will be up and operational or no income to service the debt then big problems. The low oil price increases the risk factors and delays expenditure recovery.I believe that there is currently ongoing maintenance on the pipeline but due to its age and history an end to end replacement project is warranted but will it be put in place by pipeline owners and if so what is the time frame?
