DukeDosh
11 Mar 2015
At Last - An Ops Update! At last we have an update. Still no rig mobilisation for OML40 which is a disappointing year or so behind the original schedule.The TF was down in January, as I said, which cost us 15% of the quarters' production. Surely the TF is material info that should have been reported to us sooner?GM the CEO claims 2015 will be transformational. 2014 was transformational, the company played a big part in destroying 2/3rds of the share price! Thanks for that.I would hope that the company would do a much better job in keeping their investors up to speed. These need to deliver on all fronts, but will they?
Clarence Beaks
05 Mar 2015
Re: Just wondering re news Big sell today also at this level:10:10
6 50p 225,570 £112,785 50p 51p S
Clarence Beaks
05 Mar 2015
Re: Just wondering re news So glad I bailed on that second march up to £1.30 
Good luck though guys. I still watch it but have been very hurt in XEL and HAWK to date, oil is no more for me.
DukeDosh
04 Mar 2015
Re: Just wondering re news Eland's IR is woeful. Their only defence is they are not operators of OML40 so are probably governed by what NNPC authorise them to put out, but they opertors for Opuama. No word on that since December!We should be getting monthly ops updates, or quarterly at least! No, we only get NR's on the essential regulatory stuff, rarely do we see an ops update. Those stopped last October!According to the schedule we should be seeing development drilling after the dredging. We don't even know if they have secured a swamp rig yet , never mind about if the dredging got done.I know for a fact that the TF was down in January for most of the month. Not a word from IR about what effect, if any, this had on our production. I call that material information, SP sensitive but still is goes unreported.Even the June AGM was held in Aberdeen. Not the easiest place for PI's to get to. We heard no feedback from that either.Shareholders are in the dark here big time, no news is simply that. No news!
MacPithy
02 Mar 2015
Just wondering re news All quiet so no news assumes good news will be forth coming?Re last RNS had a caveat that the "I"s had to be dotted and the "t"'s crossed before money could be drawn so hopefully all went to plan????It would be interesting to have a progress report re dredging, drill contracts etc.As due to oil price, costs could be lower and more favourable to Eland. GLA
Johandesilva
19 Feb 2015
Re: imo............only Large oil companies will swallow up the small ones but only to maintain existing production as exploration can be expensive, as we know. A similar scenario to miners. But the oil price will recover and I believe without manipulation oil to be in the region of $85 based on research done 5 years ago. Say $70 with fracking. Once stabilised co-operative manipulation can begin again.As for the electric cars we are not there quite yet. Even hybrids fail to achieve anywhere near there lab claimed MPG. We have another 15 years before needing to worry according to research.
dickie3times
23 Jan 2015
Re: imo............only Shrewd investors in oil stocks could profit immensely by waiting for the 'big oil downturn' and bottom pick among the 'majors' eg Shell, Chevron, Exxon and wait for your investment to rise a thousand times in less than 10 yearsMy favourite is Exxon to multi-multi bag as they become even bigger by swallowing (or merging) with many of the world's majors.....but not before they suffer the oncoming wrath of the oil industry's biggest catastrophe in over a century.Alternatively, the tech industry is about to boom with fantastic innovations about to hit us with such things as facial recognition systems to combat crime and to assist in sales promotions. All the big stores and the world's airports are interested. dyor
dickie3times
23 Jan 2015
imo............only The oil industry is showing the first signs of collapsing. The advent of the electric vehicle and 'lithium' battery propulsion is to be the next innovation in energy. Shrewd makers of cars are in the process of 'switching' and will survive the biggest downturn that is about to unfold on the oil industry in over 120yrs of the great oil boom that began in Texas. Gas production will be the one commodity that may save the oil exploration companies as oil will be in less demand. First to go will be the great oil barons of Saudi Arabia as they conserve their immense wealth and ply it into other industries and properties around the world. The vast array of oil-exploration companies may be forced into being taken over by a handful of the worlds majors that will inevitably 'control' the worlds oil supplies and exploration. Strangely, the reduced demand for oil will cause the price to soar to over $500 per barrel but the need for exploration will become increasingly less profitable for the smaller companies as it will be necessary to put a limit on oil producing to avoid a glut. A glut is what we are seeing now and until production controls are in place we will see the oil price fall before it rises again to levels never seen before. This will of course be unviable to the very small oil producing companies that will inevitable be under stricter control limits.How long do i think this will take...well, 4yrs from now most oil exp companies will be swallowed up, so the small investor can still be in with a chance of a t/o but don't bank on it. They may go skint first if no bidders take interest. Plus when you see half the cars in your street are electric and the company you work for are buying lithium powered lorries...that is the time to forget oil. Unless of course you are prepared to fork out £1,000 per share for the few remaining oil companies that will own the lot...lock stock 'n barrel ?
dickie3times
23 Jan 2015
As long as they generate profits..... gush or not to gush.......Oil Drillers ‘Going to Die’ in 2Q on Crude Price Swoon[link] Carroll Jan 22, 2015 9:39 PMOil drillers will begin collapsing under the weight of lower crude prices during the second quarter and energy explorers who employ them will shortly follow, according to Conway Mackenzie Inc., the largest U.S. restructuring firm.Companies that drill wells and manage fields on behalf of oil producers will be the first to fall after the benchmark American crude, West Texas Intermediate, lost 57 percent of its value in seven months, said John T. Young, whose firm led the city of Detroit through its 2013 bankruptcy.Oil companies have slashed thousands of jobs, delayed billions of dollars in projects and dropped or scaled back expansion plans in response to the prolonged rout in crude prices. For oilfield service providers that test wells and line the holes with steel and cement, the impact of price reductions forced upon them by explorers will start to pinch hard during the second quarter, Young said Thursday.“The second quarter is going to be devastating for the service companies,” Young said in a telephone interview from Houston. “There are certainly companies that are going to die.”Oilfield-service providers are facing a “double-whammy,” he said. Even as oil companies are demanding 20 percent to 30 percent price reductions, they’re also extending wait times before paying their bills, enlarging cash-flow gaps for the drilling and equipment firms, he said.
Clarence Beaks
13 Jan 2015
Re: I've decided Big drop today though, why is that? oil plunge?
DukeDosh
13 Jan 2015
Re: I've decided Despite the present oil price, I think there is a great future for this company. Low oil prices cannot and will not last for ever. At $80, our netbacks were $38.50 bbl. Simplistically, this suggests we are viable down to around $40 bbl.I think our 2015 production exit guidance and future drilling plans are too ambitious and have been over stated. This is Africa, past experience suggests delays to production and to the development programme are inevitable. OML40 is a difficult play operationally, being in swamp land with little to no infrastructure but Ubima should be a significantly easier play operationally. This should be a very interesting year for the company. I continue to own the stock and watch the company develop with great interest.
MacPithy
09 Jan 2015
Re: I've decided Agreed that the cash on hand is a big box ticked under current market conditions. Practicalities of producing and exporting here are the next risk factors; delays to oil flow and hence cash flow could be pertinent. I wonder what their oil price break even point is and how long they could keep going if any disruption to plans occurred, remembering that they got off to a much slower start than investors were led to expect so fingers crossed waiting and watching. But +very news!
DelBoyTrading
08 Jan 2015
Re: I've decided This is a brilliant buy at this price. Could easily be a £10 - £20 share in the next 2-3 years and thats only a market capof £2.8billion. Given the speed in which they hope to drill I do not see this as an unrealistic target"Production from Opuama is currently running at 3,500 bpd (1,575 bpd net to Eland) from two wells, which came onstream in February. Production interruptions were common in the early months due to the shut-in of the Forcados Terminal and problems with the existing pipeline, which after being shut-in for eight years proved more corroded than anticipated.The plan now is to ramp production: two existing wells, 5 and 7, are candidates for re-entry in Q1 2015 while four to five new wells are planned, each of which is expected to produce 4,500 to 5,500 bpd. The company is currently 80 per cent of the way through a dredging operation to open access for a rig to come in for this drilling programme, which has the potential to deliver a 2015 exit rate of 25,000-30,000 bpd"
Clarence Beaks
08 Jan 2015
I've decided long term this is a great buy at this price (sub 70p), but short to medium term it's going no-where and susceptible to market weakness.watching and waiting.
Clarence Beaks
29 Dec 2014
No Mr. Market im still not interested at 70p 
