deomelo:

kayfra:


"In May last year, the Chairman, Obijackson Group, Dr Ernest Azudialu-Obiejesi, said the group had yet to repay the $558m bank loan used to acquire 45 per cent interest in Oil Mining Lease 42 from Shell, Total and Agip Joint Venture in 2011, through which its upstream subsidiary, Neconde Energy Limited, was created."

Most indigenous oil companies are in debt to the teeth. So he isn't the only one in deep debt

https://punchng.com/indigenous-oil-firms-battle-for-survival-as-debts-hit-banks/

Xander85:


May your hatred and jealousy of Igbos consume you! I've just been shaking my head as i read the rubbish you've been posting on this thread just to try and soil the hard-earned good name of ObiJackson!

Comprehension...or rather, lack of it is part of your problem. Read the part you highlighted in bold again (this time slowly) and tell me if it in any way, shape or form suggests to you that ObiJackson has defaulted in paying back the loan in question!

deomelo:





You don jam ipob bait and switch roadblock


..

kayfra:


Read again slowly to see where i said he defaulted. The fact that he hasn't been paying doesn't mean he hasn't restructured his loan.

You have the emotions of a woman PMSing

Xander85:


Fuc/k what you say or think! Where in the body of the report you quoted did it say ObiJackson didn't keep to the terms of the loan agreement?

Xander85:


Fuc/k what you say or think! Where in the body of the report you quoted did it say ObiJackson didn't keep to the terms of the loan agreement?

kayfra:


If you remove your cataracts then you'll see the bolded line in the Punch article and other sources in this thread where it indicates he hasn't been paying on his loan.

Let me give you the idiot version so it's easy for you to understand. Read it S L O W L Y

1. He took loans to the tune of half a billion dollars to finance OML42
2. He hasn't been paying according to 2018 articles
3. He isn't the only one affected

Now keep getting your panties stuck in a bunch like an emotional toddler begging for candy cane.

Xander85:


Interesting!

Now provide links or post relevant parts of the said 2018 articles showing definitively that he defaulted on the loan taken to finance the purchase of OML42!

kayfra:


You must be clinically blind or mentally incapacitated but I'll oblige you again

"In May last year, the Chairman, Obijackson Group, Dr Ernest Azudialu-Obiejesi, said the group had yet to repay the $558m bank loan used to acquire 45 per cent interest in Oil Mining Lease 42 from Shell, Total and Agip Joint Venture in 2011, through which its upstream subsidiary, Neconde Energy Limited, was created."

Cliffsnotes to assist your comprehension

- Obijackson is the owner of Nestoil
- He hasn't repaid his loans according to a statement attributed to him
- He is not the only one indebted in the purchase OML42
- OML42 is owned by Nestoil, Yinka Folawiyo and KOV


https://punchng.com/indigenous-oil-firms-battle-for-survival-as-debts-hit-banks/

Xander85:


Abeg, can someone else help me explain to Kayfra that the part in bold in no way suggests that ObiJackson has defaulted on the loan? He's finding it hard to understand!

kayfra:


Kayfra never said he defaulted. Doofus!

Not being able to pay is not automatic default. Don't you do real business or is everything petty trading? You can restructure loans or refinance or if it's mezzanine debt, allow the lenders to take up equity.

Get an education

Jeez these people are so slow and emotional. Terrible combination

Xander85:


Fair enough!

Now could you provide links or post snippets of the said articles you're using to corroborate your claim that Obijackson 'restructured, refinanced or allowed the lenders to take up equity ownership' of OML42?

kayfra:


You need help. Enroll in a good school

globemoney:

Why didn’t Tinubu buy it or is Tinubu also suffering from hardship thatbhe cant afford the tower?

kayfra:


I dey string am along ni

Customer da da ni won

kayfra:


You need help. Enroll in a good school

Thank me later

https://investorsking.com/debts-nestoil-sell-shares-necondes-oml-42-asset/

Xander85:


Dude, what you posted in no way backs up your claim that ObiJackson defaulted on the loan taken to buy OML42! It only states that due to operational challenges and the fall in global oil prices NESTOIL decided to sell some shares in OML42! At no point in the article did it say the coy defaulted in the payment terms for the loan it took....that's what you've been suggesting all this while! I doubt there's any multinational or indigenous oil and gas coy operating in Nigeria that didn't face challenges of one form or the other, so why are you making it out to look like NESTOILs case is unique, and that ObiJackson is running from pillar to post trying to stave off a visit from AMCOM?

This what what i asked you in an earlier post: Now could you provide links or post snippets of the said articles you're using to corroborate your claim that Obijackson 'restructured, refinanced or allowed the lenders to take up equity ownership' of OML42?


The link you attached proves none of the above!

kayfra:


Are you really this stupid? For the third time. I NEVER SAID HE DEFAULTED!!!

Xander85:


THEN WHAT DA FUC/K ARE YOU SAYING? WHAT IS THE SITUATION YOU'RE SAYING NESTOIL/OBIJACKSON IS FACING THAT'S NOT COMMON TO ALL OPERATORS IN THE UPSTREAM OIL AND GAS SECTOR IN NIGERIA?

IF YOU SAY HE DIDN'T DEFAULT ON THE LOAN, THEN JUST WHAT ARE YOU ACCUSING HIM OF THAT SHOWS HE CAN'T BE COUNTED AS ONE OF THE WEALTHIEST IGBOS ALIVE? B'COS THAT'S THE TITLE OF THIS THREAD!

kayfra:


Typing in all caps does not hide your handicap. You are plain stupid

He is heavily indebted and hasn't been able to pay his loan for the past couple of years is the point. Doesn't mean he isn't trying to come up with a solution as shown in the articles. Hence, we won't use the term default since he is trying his best to meet his obligations.

If you don't understand that simple explanation then your case is beyond redemption. I'll send in a prayer request on your behalf. You need to receive sense by fire or by force

Xander85:


Your crass stupidity and wickedness is breathtaking!

You say, "he is heavily indebted and hasn't been able to pay his loan for the past couple of years is the point"! Yet earlier you stated, "i never said he dafaulted"! You see the effort it takes to maintain a lie...you forget the lie you told just a moment ago in a bid to try and wriggle out of the hole you've dug for yourself! The knob of your failed argument is that NESTOIL sold equity in OML42, and i ask, what has this got to do with anything? You would have had a case if as you explained earlier, he was forced to sell the equity to his lenders to offset the balance of the loan he's unable to pay, or that said loan was 'restructured or refinanced' as you put it! None of this is the case, yet you keep on banging on about some imagined distress to the personal fortunes and finances of ObiJackson...done out of pure hate, bigotry and bitterness! I fully understand the kind of sad individual you are: anything about Igbo success just riles you up to no end doesn't it...you just can't help yourself!

Most if not all Nigerian business moguls owe banks to differing degrees! When the problem arises is if they default on the loan taken! You have stated yourself that NESTOIL has not defaulted on their loan (ie, missed a payment or incapable of servicing the debt as agreed), yet you insist on going round and round in circles just to save face! You need to purge yourself of the bitterness and bile within you...hopefully, your quality of life can improve somewhat!

kayfra:


You get silly posts like this when all you are exposed to is petty trading and not complex corporate finance.

I can't help you. You need an education.

OMANBALA1:
You know they want to ruin this thread and you caught their bait. Look at what has happened....Ndigbo are too emotional!

Ilovemystate:


Most eastern billion prefer low profile

Nestoil Shipside Dry Dock services

Nestoil is expanding its facilities with the new modular floating dry-dock, currently under construction at the Damen Shipyards. With the floating dry dock, Nestoil is able to streamline its docking activities and meet its objectives for safe working conditions, more competitive prices, shorter lead times, high quality craftsmanship and overall reliability in client service. Nestoil shipside dry dock is able to perform a variety of services including:

Blasting and painting works
Maintenance on propulsion systems and classification surveys
Polishing, repair and replacement of propellers
Engine works
Bow trusters
Rudder valves.
Hatches
Piping
Cleaning, high pressure washing
Winches
Generators

Ilovemystate:

Why Dangota why not mention your tribes man Adenuga

deomelo:

Yoruba gossip 3yrs ago,same rubbish you guys wrote about Emeka Offor on Sahara report, they are still waxing strong kindly visit Nestoil tower website

kayfra:


You need help. Enroll in a good school

Thank me later

https://investorsking.com/debts-nestoil-sell-shares-necondes-oml-42-asset/

Asshurbanipall:
I think Arthur is overhyped. What does that guy have except political patronage. He may have had money in the 90s but not anymore. Arthur is overhyped sincerely, there is nothing to his name except noise and drama