I have an Elwell 7, known as the 'Forest Blazer' that was my fathers. Elwell did these in a variety of head types, some super long and slim (true 'felling' axes, like mine) and others thicker in profile (more 'general purpose'). Some were thicker still for predominantly splitting work.
How thick is yours across the eye ? It looks to have a longer edge than mine too.
It's obviously been recently re-helved. What it needs now is cleaning up properly (I would have done that whilst it was off the helve, but never mind) and sharpening so it can properly do the work it was designed to do.