Eland offers Nigerian opportunity

Eland offers Nigerian opportunity

Following swiftly on from Heritage Oil’s sizeable acquisition of producing assets in the Niger Delta, Alternative Investment Market (Aim) investors have welcomed Eland Oil & Gas (ELA) following a £118m placing which will fund the acquisition of more of Shell’s assets in the country. But this time there is a bit more risk - the assets have not produced a drop of oil for six years and require investment and time before they reach a good level of production again.

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