Eland Oil & Gas (ELA)

Sector:

Energy Producers

Index:

FTSE AIM 100

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 109.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 137.50
  • 52 Week Low: 62.25
  • Currency: UK Pounds
  • Shares Issued: 220.16m
  • Volume: 32,388
  • Market Cap: £241.08m
  • RiskGrade: 323

Eland wraps up drilling at Opuama-9 well

By Iain Gilbert

Date: Thursday 14 Jun 2018

LONDON (ShareCast) - (Sharecast News) - AIM-quoted production and development company Eland Oil and Gas has successfully drilled and completed its Opuama-9 well in Nigeria.
Via its local subsidiary, Elcrest Exploration and Production, the Africa focussed firm was in the process of installing a production tree at the Opuama-9 well, which is now expected to be handed over to the production team "in the coming week" before kicking off flow testing into the production facilities.

Under the regulatory guidelines, the Opuama production team will conduct a maximum efficient rate test, incrementally testing the well at increasing choke sizes.

Eland expects that, following completion of the MER Test, initial gross production from the Opuama-9 well will be "at the upper end" of its guidance, between 4,000 and 6,000 barrels of oil per day.

The firm also intends to move its OES Teamwork Rig to the Opuama-10 drill site, with spudding expected in June and an initial gross production of between 4,000 and 6,000 bopd.

George Maxwell, Eland's chief executive, said, "OP9 has been a challenging well but we are extremely pleased that production is likely to be at the high side of our estimate and simple well payback at current oil prices still predicted to be sub 90 days. We will soon move to and spud OP10 and look forward to a successful drilling program"

As of 1040 BST, Eland shares had collected 0.83% to 121.50p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Eland Oil & Gas Market Data

Currency UK Pounds
Share Price 109.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 137.50
52 Week Low 62.25
Volume 32,388
Shares Issued 220.16m
Market Cap £241.08m
RiskGrade 323

Eland Oil & Gas Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
87.04% above the market average87.04% above the market average87.04% above the market average87.04% above the market average87.04% above the market average
95.88% above the sector average95.88% above the sector average95.88% above the sector average95.88% above the sector average95.88% above the sector average
Price Trend
95.64% above the market average95.64% above the market average95.64% above the market average95.64% above the market average95.64% above the market average
76.70% above the sector average76.70% above the sector average76.70% above the sector average76.70% above the sector average76.70% above the sector average
Income Not Available
Growth
85.60% above the market average85.60% above the market average85.60% above the market average85.60% above the market average85.60% above the market average
96.72% above the sector average96.72% above the sector average96.72% above the sector average96.72% above the sector average96.72% above the sector average

What The Brokers Say

Strong Buy 5
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 5
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Eland Oil & Gas Dividends

No dividends found

Trades for 18-Oct-2018

Time Volume / Share Price
13:07 250 @ 109.50p
12:51 254 @ 109.50p
12:21 250 @ 109.50p
11:54 746 @ 108.15p
11:51 250 @ 109.50p

Eland Oil & Gas Key Personnel

CEO George Walter Mitchell Maxwell
CFO Ronald Bain

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