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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