Through its joint venture company Elcrest, Eland’s core asset is OML 40 in the Northwest Niger Delta. Eland also has a 40% interest in the Ubima field, located onshore Niger Delta just north of Port Harcourt.
The OML 40 licence lies within the Niger
Delta approximately 75km northwest of
Warri and covers an area of 498 square
kilometres. The Company completed the
acquisition of a 45% equity stake in OML 40,
onshore Nigeria, in September 2012.
The Ubima Field licence lies 40km North
of Port Harcourt in Rivers State, Nigeria,
and covers an area of 65 square kilometres.
The Company completed the acquisition of
a 40% equity stake in Ubima in August 2014.