I wonder if any gamblers noticed my post 334 on the GMC thread yesterday.
It looks as though bottom fishing can sometimes pay off.

sorry article just a rehash of old story pre fda approval. need some positve elan news

Just thought i would share some news about elan....its more a personal thing than a market thing but may be relevant....London tysabri dosing restarts this month, This is the continuation of the trial i was on for the past 3 ish years, which was stopped whenb the bad news about PML happened.

I can only assume the restart means that UK availability is up and running and the trial continuation was afterall a condition of the FDA and euro counterparts granting a licence for remarketing of this future block buster drug. guess it all takes time to get things going again and rest assured I shall be asking my neuros on wednesday what their views on the drug and its future are.

will post more wed night.

Thanks for the update Crippy

hi all not posted since i recieved first infusion, had to go through the new protocol as specified with tysabris reintroduction, mri scan, neuro testting etc. The short version is that it all worked out very well and trial runs for 12 months, hope that the people at NICE allow it to be perscribed, fingers crossed.

Anyway during the infusion, which takes an hour I did not have much chance to speak to the doctor at lenght about what the future of the drug was in her opinion, she was very busy as you might imagine, but I did ask how many of the original trial patients had taken up the oppertunity to take tysabri again and the answer was all but one of the 600 or so patients chose tom take the drug. So all the talk in the news about tysabri having a low take up and doctors wouldnt prescribe it is all a bunch of rubish according to the prof in charge of the trial i am on, who unequivically said he would prescribe it without hesitation.

So my opinion is buy now! Price has been brought down by negative publicity and many neysayers all out to damage Tysabri sales and patient confidence which of course affects Elan. todays price close below pre approval level prices. I topped up again today.

Thanks for the info Crippy. I would be buying more also if I had the funds, this share has been preforming disappointingly recently, but I still believe it's a long term winner, your added info on take up has increased my confidence!

Follow the man chaps, follow Mr Wright and get its right.

UK healthcare products developer Maelor is buying Acorus Therapeutics and expects full-year results for the year to 31 March to beat market expectations.

Maelor (MLR) shares added 11.8%, but by 2 pm were just 4% higher at 13.25p, up 0.5p which gives the AIM-listed company a market value of 4.54 million.

The company, which recently moved its offices to Chester from Wales, said the positive trading trend its cited when it reporting its interim results in November has been sustained into the last quarter of the financial year and as a result, the company anticipates a significant reduction in losses for the second half of the financial year. It didnt give specific figures.

Sales of Volplex, a plasma substitute that was Maelors first commercial product, continued to grow during the six-month period, as did sales of its catheter flushing devices, Maelor says in a trading statement.

First listed on the London Stock Exchange in 1997, Maelor has struggled in recent years to become profitable. In October 2005, five months after reporting pre-tax losses of 814,244 for the year to 31 March, the companys board brought in Tim Wright, at that time a 39-year-old vice president of international marketing at Dublin-based Elan, the publicly-traded biotechnology company.

yup its a winner alright, so much going for elan so many non believers must be sick they missed the boat, financial data coming at end of july....hope to see considerable tysabri uptake as docs and patients gain confidence, although any neuro who knows anything about ms knows this is a drug that is head and shoulders above the competition. hence the decision by NICE to allow funding recently!....plus the altheimers drug continues to reach its goals. futures sure looking up 30+ by 2008....good luck all! recent dip just consolidation, good time to get more i reckon!

ELA tanked this morning ,then recovered a bit before 14.00hours,any views.

Whats the chances With elans share price to rally withinn the next few months?

Video presentation with Eland Oil & Gas (AIM-ELA)
Les Blair, Chief Executive Officer
AIM newcomer Eland Oil & Gas, which raised £118 million through its September IPO, is developing OML 40 in the rich Niger Delta are of Nigeria

Click the link below:

http://www.brrmedia.co.uk/event/106553/les-blair-chief-executive-officer

Nice graph recently, benefiting from the increase in the price of oil.

Opuama-10 Update
Eland Oil & Gas PLC (AIM: ELA), an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, through its joint-venture subsidiary Elcrest Exploration and Production Nigeria Ltd ("Elcrest"), is pleased to announce the following update on the Opuama-10 well on Opuama Field, OML 40.

Opuama-10 has been drilled to a total true vertical depth of 8,121 feet, measured depth of 10,135 feet. The rig is currently cementing 9-5/8 casing which will complete today. The well encountered six oil-bearing reservoirs. Total net pay, in the six oil-bearing reservoirs, is 307 feet apparent vertical thickness.

The short string will be completed on the D1000 reservoir with 32 feet of perforation interval. The long string will be completed on the D5000 reservoir from 50 feet of perforation interval. Following completion, under the regulatory guidelines the Opuama production team will conduct a Maximum Efficient Test ("MER Test") incrementally testing the well at increasing choke sizes. It is expected that, following completion of the MER Test, initial gross production from Opuama-10 will be in line with previous guidance, at between 4,000 and 6,000 bopd (1,800 - 2,700 bopd net to Elcrest), with total production from Opuama field expected to reach 30,000 bopd (13,500 bopd net to Elcrest).

George Maxwell, CEO of Eland, commented:
"We are delighted with the significant amounts of net pay encountered by Opuama-10 and look forward to both another strong production performance following completion and testing and reaching our near-term target of producing 30,000 barrels of oil per day from Opuama field.

"The Company continues this exciting period through the second half of 2018 as our active drilling programme will increase production and generate significant revenues for Eland. We look forward to updating our stakeholders in due course."

Commencement of Ubima Appraisal
Eland Oil & Gas PLC (AIM: ELA), an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, through its subsidiary Wester Ord Oil & Gas Nigeria Limited, partnered with All Grace Energy Limited, is delighted to confirm that the appraisal of Ubima field has commenced with the Deutag T-57 land rig re-entering the Ubima-1 well which has been suspended since discovery by SPDC in 1963. The Company has a 40% equity interest in the Ubima field.

A dual string completion is planned for Ubima-1 on four different reservoirs, namely on the D1000 (at 4,908 feet subsea ("ftss")), E1000/E2000 (at 6,778 ftss) and F7000 (at 9,244 ftss). The programme includes two Drill Stem Tests (DST's) on the E1000/ E2000 and D1000 prior to running the dual completion with the objective to obtain accurate fluid, pressure and production data for each separate reservoir. Thereafter extended production testing is planned, which will serve as a solid basis for the full field development plan of the Ubima field.

Interim Results for the six months to 30 June 2018
Eland Oil & Gas PLC (AIM: ELA), an oil & gas development and exploration company operating in West Africa with an initial focus on Nigeria, today announces its unaudited financial results for the six-month period to 30 June 2018 (the "Period").

George Maxwell, CEO of Eland, commented:
"The first half of 2018 has been the most important operational and financial period in Eland's history. With two successful infill wells completed on the Opuama field, average gross production increased threefold to over 17,000 barrels of oil per day and has since hit highest levels to date of nearly 30,000 bopd since period end, and will continue to increase further in the near-term.

The operational successes in the period translated into a transformational financial performance with the Company reporting its maiden profit following record Group revenues. The strong operational cash flow in the Period also allowed for a positive turnaround in the Company's working capital position through a period of considerable capital investment. The significant increase in the re-financed debt opportunity is testament to the improvement in the Company's performance.

We continue with the Ubima appraisal while also targeting first oil on Gbetiokun this year, further significantly increasing the Company's production base. The outlook for the remainder of this year is extremely exciting as we drive towards further record production and financial performance in 2018."

H1 2018 HIGHLIGHTS
Strong operational delivery
· Success with Opuama-8 and Opuama-9 in H1-2018 led to record high gross production from OML 40 of 25,000 barrels of oil per day ("bopd") (Elcrest net 11,250 bopd*).

· Gross production from OML 40 achieved an average 17,146 bopd (7,716 net) during the six-month period to 30 June 2018 in comparison to 5,275 bopd in H1 2017 (2,374 net), an increase of 225%.

· Successful installation of a Lease Automatic Custody Transfer ("LACT") unit at Otumara providing accurate measurements of crude oil delivery from OML 40.

· The Ubima-1 appraisal operations, an asset diversification by Eland outside of OML 40, commenced in H1 with re-entry of the well commencing post period end. Appraisal continues.

· An updated Competent Person's Report ("CPR") for OML 40 in April 2018 increased gross Proved ("1P") reserves by 20% to 39.5 million barrels ("mmbbls") and increased gross Proved plus Probable ("2P") reserves slightly to 83.4 million barrels.

Record financial performance
· Revenue of $67.4 million (1H 2017: $0.8 million) with an average realised price of $69/bbl (1H 2017: $37/bbl).

· Including the effect of the movement in crude inventories in the Period the value of production was $87.9 million (1H 2017 $20.2 million).

· First reported profit in the Group's history with $44.7 million post-tax profit in the Period (H1 2017: $22.4 million loss).

· Strong operating cash flows in Period of $50.6 million (H1 2017: $17.5 million deficit).

· Net current liabilities stood at $17.1 million at Period end (1H 2017: $35.7 million) although excluding the impact of the short term-bank loan net current assets were $8.2 million (1H 2017: $31.3 million net current liabilities).

· Direct OML 40 operating costs of $8/bbl (excluding royalties).

· Liftings in Period of 976,000 bbls (H1 2017: 23,000bbls) generating revenue of $67.4 million (H1 2017: $0.8 million).

· Cash of $29.8 million at 30 June 2018 (H1 2017: $22.3 million).

Post-Period End - continued delivery
· At an advanced stage in securing an initial debt facility of $100 million, with an accordion feature to grow to $200 million based on incremental reserves and production.

· Facility expected to close with $75 million commitment and $25 million due to be syndicated in the near term

· Opuama-10 production testing in progress with production of 6,898 bopd (3,104 net) achieved during testing operations. It is expected following completion of testing stabilised initial production from Opuama-10 will be in excess of 5,500 bopd (2,321 net).

· Aggregate Opuama field production is expected to average above 29,000 bopd (13,050 net) once Opuama-10 testing operations complete.

· Opuama-11 has been drilled to a total true vertical depth of 7,914 feet and the final casing string has been run and cemented. It is expected that initial gross production from Opuama-11 will be between 4,000 and 6,000 bopd (1,800 to 2,700 net) further adding to Opuama field production.

· Following the completion of drilling at Opuama-11 and the receipt of regulatory approvals, the OES Teamwork rig will be moved to the Gbetiokun field, where it will re-enter Gbetiokun-1 followed by drilling of Gbetiokun-3 as part of the initial phase of the field development plan.

· OML 40 twenty-year licence renewal process approved and agreed by all stakeholders. The licence renewal fee has been paid and we await final consent of the Honourable Minister of Petroleum Resources.

· Ubima well testing operations in progress with the F7000 reservoir tested at flow rates of up to 2,500 bopd. At present the D1000 reservoir is being tested with the potential to test the E1000/E2000 to be evaluated.

· Post period end we have received $50.5 million in cash receipts from our July and August liftings totalling 679,000 bbls. A further 350,000 bbls have been lifted in September which will provide an additional $26.6 million cash when funds are received in October.

· Current cash balance of $32.3 million.

Outlook
· Busy H2 drilling programme following the completion of Opuama-11 to include the re-entry of Gbetiokun-1 and drilling of Gbetiokun-3.

· Ubima appraisal is currently underway and on success a significant amount of contingent resources to be converted into recoverable reserves. Four wells are currently planned to develop the main reservoirs.

· H1 2018 has delivered exceptional growth notwithstanding the challenges of the extended drilling programme on Opuama-9. However, the full benefit of production from Opuama-9, coupled with Opuama-10 and 11 will be realised in H2 2018 resulting in further significant increase to both revenue and cashflow.

Eland Oil & Gas PLC (AIM: ELA), an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, is pleased to announce the following operations update.
https://www.moneyam.com/action/news/showArticle?id=6182515

George Maxwell, CEO of Eland, commented:
"We are pleased with what is expected to be another highly successful infill well on the Opuama field and we look forward to further record field production levels once testing has been completed. At current oil prices, these record levels of production from Opuama field are leading to significant cashflows for all of OML 40's stakeholders.

The prolific nature of OML 40 combined with the Company's experienced and resourceful team and supportive stakeholders means that we move development operations swiftly to the Gbetiokun field and the opportunity to increase production by a further 50% in the near-term.

Furthermore, the conversion of Ubima-1 into a producing well following the initial workover is a milestone for the Company and following the test of the E1000 and E2000 reservoirs we shall begin to evaluate monetisation opportunities for production from this well. Further evaluation of the D1000 sands are required to consider options for any full field development and we will update the market as we progress these studies.

We look forward to updating the market on the progress of both the Gbetiokun Early Production System and the evaluation of Ubima."