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Director and PCA Dealing

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By LSE RNS

RNS Number : 8893T
Eland Oil & Gas PLC
06 July 2018
 

6th July 2018

 

Eland Oil & Gas PLC

("Eland" or the "Company")

 

Director and PCA Dealing

 

Eland Oil & Gas PLC (AIM: ELA), an oil & gas production and development company operating in West Africa with an initial focus on Nigeria announces that a PCA of Henry Turcan, Non-Executive Director of Eland Oil and Gas completed the share transactions set out in the table below.

The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

Notification of public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated by them.

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Lombard Odier Asset Management (Europe) Limited

2

Reason for the notification

a)

Position/status

PCA of Henry Turcan

b)

Initial notification /Amendment

 

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

 

Name

 

Eland Oil & Gas Plc

b)

 

LEI

213800QDGQKG3JKKRR86

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted  

a)

 

Description of the financial instrument, type of instrument

Identification code

 

Ordinary Shares £0.10 each

GB00B8HHWX64

b)

 

Nature of the transaction

 

Purchase of ordinary shares

c)

 

Price(s) and volume(s)

 

 

 Call Price(s)

   Volume(s)

123p

2,233

d)

 

Aggregated information

- Aggregated volume

- Price

Date 05/07/2018

2,233 @ 123 pence

£2,746.59

e)

 

Date of the transaction

5th July 2018

 

f)

 

Place of the transaction

LSE XLON

 

 

ENDS

 

 For further information:

 

Eland Oil & Gas PLC (+44 (0)1224 737300)

www.elandoilandgas.com

George Maxwell, CEO

Ronald Bain, CFO

Finlay Thomson, IR

 

Canaccord Genuity Limited (+44 (0)20 7523 8000)

Henry Fitzgerald O'Connor / James Asensio

 

Panmure Gordon (UK) Limited (+44 (0)20 7886 2500)

Adam James / Atholl Tweedie

James Stearns

 

Camarco (+44 (0) 203 757 4980)

Billy Clegg / Georgia Edmonds / Tom Huddart

 

Notes to editors:

Eland Oil & Gas is an AIM-listed independent oil and gas company focused on production and development in West Africa, particularly the highly prolific Niger Delta region of Nigeria.

Through its joint venture company Elcrest, Eland's core asset is a 45% interest in OML 40 which is in the Northwest Niger Delta approximately 75km northwest of Warri and has an area of 498km².  In addition, the Company has a 40% interest in the Ubima Field, onshore Niger Delta, in the northern part of Rivers State.

The OML 40 licence holds gross 2P reserves of 83.4 mmbbls, gross 2C contingent resources of 40.4 mmbbls and a best estimate of 254.5 mmbbls of gross unrisked prospective resources.* The Ubima field holds gross 2P reserves of 2.4 mmbbls of oil and gross 2C resource estimates of 31.1 mmbbl.**

Net production figures relate to Elcrest Exploration and Production Nigeria Ltd ("Elcrest"), Eland's joint venture company. Production rates, when oil is exported via Forcados, are as measured at the Opuama PD meter, are subject to reconciliation and will differ from sales volumes.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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