There was a thread for this company sometime ago but I cannot find it. Anyway it lost its quote last July and has hardly communicated with the market since. I was of the opinion that they were in breach with company house for not presenting accounts and had financial problems etc. One of my numerous bad decision to buy in 2008. I would take what I can get for the shares and move on, but their broker has no instructions from the company. The reason for this note is that out of the blue a generous dividend appeared in my account and a vague comment that they were looking to buy the shares in. Do anyone know anymore?

Here is the previous thread.

Latest shareholder news July 2009

More here about the special dividend 02 November.

colinspurr there is a very active shareholder action group which can be found on the A==FN website. This group have fiercely fought a large Nigerian oil co which is trying to take over the co on the cheap. They offered 3p a share minus dealing costs which was 2.5p paid--this was refused by most of the large holders on that thread. The purchase has been withdrawn as the Nigerian gov. returned a large deposit paid by eel on some large oil fields after something like 4 years--NO interest!! This meant the co was solvent again and they have now paid the special div. to all those who didn't sell out for 2.5p so you were lucky.
The situation now meand that the Nigerian co owns its stake in eel for nothing as surprise surprise the div. covered their costs!
The battle is ongoing for fair value and the t/o is held up by the co not being able to reach 90% ownership and winning. They are at approx 73% and guess what group is blocking them! I urge you to make contact and join the fight for true value of your shares.

Thanks guys for the information.
Moneyplus I will happy to throw my few shares into the fight but I have not been able to get on the webb site mentioned either direct or through google.
Thanks again and a happy Christmas