By Ben Turney | Monday 17 August 2015
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Elephant Oil is a privately held oil exploration company, whose managing director is Matt Lofgran of AIM-listed Nostra Terra Oil & Gas (NTOG). Elephant Oil secured the Block B onshore coastal exploration licence in Bénin, West Africa, in October 2013. It counts Red Rock Resources (RRR) and Paternoster Resources (PRS) among its cornerstone investors and could be one to watch over the coming years, as it attempts to open up a new oil producing province.