StockMarketWire.com - Eland's joint venture company, Elcrest Exploration and Production Nigeria, expects a significant reduction in underlying tax rates.

Eland says that Elcrest has been in discussions with relevant government departments in Nigeria about its tax status.

Eland says good progress has been made and Elcrest expects to benefit from a significant reduction in underlying tax rates.

The company will provide further detail when appropriate.

At 8:39am: [LON:ELA] Eland Oil & Gas PLC share price was +6.75p at 124.25p


Story provided by StockMarketWire.com