PETERiCHY:


COMPARISON has been the major factor that drives alot into crimes which in turn lead to their early grave.

Why pray to be BIG for NOTHING when GOD have destined you to be SMALL but MIGHTY

Well CONTENTMENT is the KEY.

Mediate on that and have a BLISSFUL WEEK

*ThE OcToPuS*

Elai147:


Nothing apart from Be Audacious

They want to buy more assets; with which money?

[http://www.reuters.com/article/2015/10/26/us-markets-oil-idUSKCN0SK02O20151026]

Crude oil prices remained weak on Monday as a slowing demand outlook implied oversupply will remain in place for months, prompting speculators to cut their bets on rising prices.

Front-month U.S. crude futures were trading at $44.62 per barrel at 2.59 a.m. ET, a mere 2 cents above their last close but more than 12 percent below their October peak.
International benchmark Brent was down 1 cent at $47.98 a barrel, and over 11 percent below this month's high.

Goldman Sachs said that oil prices could drop "sharply lower" as refined product storage sites come close to filling, stoking a glut that has already seen crude prices fall by more than half since June 2014.
ANZ said it expected prices to remain low for the rest of this year, due to slowing demand and as speculators were cutting bets on higher prices.
On the demand side,

Energy Aspects said that it "forecast a sharp slowdown in global oil demand across Q4 15 at 0.8 million barrels per day, which marks the slowest pace of growth in five quarters."
Energy Aspects said ongoing oversupply in crude oil was starting to spill into the market for refined products, with a product stock-build of 0.6 million barrels per day seen in the third quarter.
Rising inventories as well as a mild winter expected for Europe and North America as a result of an El Nino weather event would likely lead to reduced refinery production and lower use of crude oil by refiners, it said.

Global oil markets were "still some way from rebalancing", the research agency added.
Due to the low oil prices, investment in the sector in 2016 will likely decline further after sliding this year by more than a fifth,

Fatih Birol, the executive director of the International Energy Agency (IEA), said on Monday.

Agbalowomeri:
http://www.nse.com.ng/Financial_NewsDocs/11123_SEPLAT_PETROLEUM_Q3_SEPT_2015_FINANCIAL_STATEMENTS_OCTOBER_2015.pdf

And to Seplat faithfuls, it is WELL

Wahala dey ooo. e be like say dis one dey come meet me for N120 bus stop.

Happy Monday to all my bnsitl. May I use this opportunity to appeal to you all to sell your Seplat this week. That will enable me to easily achieve my goal to acquire 3% of Seplat before the end of this year. Please help me by selling your Seplat this week you can still buy it back when it is cheap. Thanks for being a partner in progress.

megainvest:
Happy Monday to all my bnsitl. May I use this opportunity to appeal to you all to sell your Seplat this week. That will enable me to easily achieve my goal to acquire 3% of Seplat before the end of this year. Please help me by selling your Seplat this week you can still buy it back when it is cheap. Thanks for being a partner in progress.

Why not join the gorimakpa group

FBN and UBA Fined


http://www.thisdaylive.com/articles/tsa-cbn-fines-firstbank-uba-n4-82bn-for-concealing-nnpc-funds/223781/

Even oga proshare were be oando right hand supporter dey provoke.

#jokeoftheyear

LONDON Oct 23 (Reuters) - West African crude oil differentials stayed weak on Friday, as cargoes for December export competed with a large overhang of supply from November that had failed to attract buyers.

There were still more than 20 million barrels of Nigerian and Angolan crude due for export in November available, with nearly all of the December cargoes already on the market, traders said.
Traders said activity was particularly quiet as traders were waiting for the results of a number of tenders due next week before committing to selling certain vessels.

Freight rates have fallen this week, which could make West African cargoes more competitive for Asian buyers.

However a rising premium of Brent crude, against which West African oil is benchmarked, to both Dubai and U.S. crudes is acting as a deterrent from buyers from both East and West DUB-EFS-1M CL-LCO1=R.
Weak refining margins in Europe, particularly for diesel, were seen as limiting demand for crude oil in the run-up to the Christmas break in the region.

Adding to the bearish tone, China, one of West Africa's biggest buyers of crude oil, cut its interest rate in a bid to jump start its stuttering economy, underlining its fragile demand situation


[http://af.reuters.com/article/angolaNews/idAFL8N12N3M620151023]

OBAGADAFFI:
Oando conference call come soon @4 pm

-0.44 (4.23%)- EARLY LOSS

Abeg, somebody should help me fling one plastic chair directly to Wale Tinubu's face when his speaking.
This man don give people High BP finish

Is high time most of this oil stocks come down by half because their earnings has been on steady decline..................

9free:

Abeg, somebody should help me fling one plastic chair directly to Wale Tinubu's face when his speaking.
This man don give people High BP finish

Born2berich:
30M units on offer and no single buyer....I really pity the oandos faithfuls.

But seriously, Wale tinubu needs serious bashing. Which kind result be this?

c168,000 units have been exchanged as at 11:31am

The truth is all of una still love Oando! Let market makers mop up the offer, una go see rushing inside the BRT. Even LASTMA self go follow enter. Chai humans!

The 10 Biggest Energy Company Bankruptcies

Running a multi-billion dollar energy company isn’t easy. Just ask the executives in the corner suites of some of the energy companies that have gone bust over the years. Some, like Enron, were brought down because of insider malfeasance. A few, like ATP, blamed damaging government policies, while others went off the rails due to market forces that left the company and its shareholders flat-footed, deep in debt, and eventually broke. Here are the bankruptcies that will be etched into the tombstones of failed energy fortunes for time immemorial.

1. Enron. Bankrupt December 2, 2001. Assets $65.5 billion
Enron grew from a simple pipeline company into the world’s largest energy trader by using the Internet to buy and sell natural gas and electric power to help utilities and industrial power users hedge against price fluctuations. By 2000, Enron was worth an astonishing $68 billion, but when the U.S. Securities and Exchange Commission started investigating, it was revealed that much of the money was based on shady accounting practices and un-recorded losses. In one year, Enron’s stock price plummeted from more than $90 to less than $1, resulting in $11 billion in shareholder losses. The subsequent bankruptcy remains the largest in U.S. history. CEO Kenneth Lay and fellow Enron executive Jeffrey Skilling were convicted in 2006 of fraud and conspiracy. Lay died from a heart attack while awaiting sentencing. Skilling is still in prison.

2. Energy Future Holdings. Bankrupt April 29, 2014. Assets $36.4 billion
Energy Future Holdings became the largest power producer in Texas in 2007 after a $45 billion buyout of TXU Corp. But the company struggled under the weight of $40 billion in debt after revenues plunged due to lower prices for natural gas and electricity. Energy Future Holdings was broken up in April under the terms of a restructuring deal.

3. Pacific Gas & Electric Company. Bankrupt April 6, 2001. Assets $36.1 billion
California’s largest publicly-owned utility went bust after deregulation led the company to incur billions in debt. After selling its gas power plants, the company had to buy power from other energy companies. Buying at fluctuating prices and selling at fixed prices led to losses and eventual bankruptcy. But accordingto Time, wholesale prices eventually dropped, and the day the company emerged from bankruptcy in 2004, its stock was worth three times as much as when it filed for protection.
Related: The Biggest Energy Trading Disaster In History

4. Texaco. Bankrupt April 12, 1987. Assets $34.9 billion
Texaco started out in 1901 as the Texas Fuel Company and was independent for 100 years before merging with Chevron in 2001. However, in the 1980s, Texaco became embroiled in a legal battle with Pennzoil, and ended up owing the company $10.5 billion. That led to Texaco filing for bankruptcy, which at the time, was the largest in U.S. history.

5. Calpine Corporation. Bankrupt December 20, 2005. Assets $26.6 billion
In the mid-2000s, Calpine was the biggest owner of natural gas-fired plants in the U.S. But soaring fuel costs led the company to incur more than $22.5 billion in debt. The subsequent bankruptcy filing followed the ouster of top executives after they lost a fight with bondholders to use proceeds from asset sales to buy fuel. The company received $2 billion in financing to allow it to keep its plants supplying customers.

6. ATP Oil & Gas.Bankrupt April 17, 2012. Assets $3.6 billion
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In 2009, ATP Oil & Gas, an offshore oil producer, refinanced $1.5 billion in debt, with the goal of doubling its production to 50,000 barrels a day. Then came the BP Deepwater Horizon disaster. A 2010 moratorium on deepwater operations in the Gulf of Mexico meant ATP was not able to complete wells on its Titan production platform. Forced to spin off Titan and borrow $350 million, ATP spiralled downward, crushed by $2.7 billion in debt obligations. In a Forbes article, ATP’s CEO blamed the Obama Administration and “its illegal ban on deepwater drilling in the wake of the BP disaster,” for the implosion of the company.

7. Patriot Coal.Bankrupt July 9, 2012. Assets $3.6 billion
As the largest producer of thermal coal in the eastern U.S., Patriot Coal was particularly vulnerable to low coal prices, competition from cheap natural gas, a slowing U.S. economy and tougher environmental rules. Patriot Coal lost money every year since 2010, and in 2012 recorded a loss of $198.5 million. To stay afloat during the Chapter 11 bankruptcy process, the company received $802 million from three major banks.

8. James River Coal.Bankrupt April 8, 2014. Assets $1 billion.
Another victim of the U.S. coal downturn, James River Coal declared itself bankrupt in April, 2014, having emerged from a previous bankruptcy in 2004. The company listed $818.7 million in debt after being forced to close a dozen mines. James River Coal was granted a $110-million loan to keep operating under court protection. At the time of the bankruptcy, the company's stock was trading for 36 cents, compared to $60 a share in 2008.
Related: How Rising Interest Rates Could Spell the End of the U.S. Energy Boom

9. OGX.Bankrupt Oct. 30, 2013. Debts $5.1 billion
Darling of Brazilian billionaire Eike Batista, OGX Petróleo e Gas Participações SA filed for bankruptcy protection after failing to reach an agreement with creditors to negotiate part of its $5.1 billion debt. The bankruptcy was the largest in Latin America. The blow to Batista’s mining and oil and gas empire came after disappointing output from offshore wells set off a crisis of investor confidence.

10. Suntech.Bankrupt March 20, 2013. Debts $1.6 billion
The Chinese solar panel manufacturer, one of the world’s biggest, was forced into bankruptcy court after the company missed a $541 million payment to bondholders. The company’s misfortunes were blamed on a glut in the market for solar panels, which collapsed prices. Another solar industry giant, Germany’s Q-Cells, was caught in the downturn the year earlier.


http://oilprice.com/Energy/Energy-General/The-10-Biggest-Energy-Company-Bankruptcies.html

Like Oando, like SkyeBank. Full Offer, No single Bid. It is well!

[http://www.cnbcafrica.com/video/?bctid=4578354040001]


http://www.cnbcafrica.com/video/?bctid=4578354041001


OANDO FY LOSS SHOCK MARKET
Mon, 26 Oct 2015 08:11:23 GMT
Oil and Gas player Oando shocked the market on Friday when it reported one of the largest full year losses recorded by an NSE listed company, adding up to over a billion US dollars. The diversified energy group reported a full year loss after tax of 183 billion naira and a subsequent half year loss of 35 billion naira. CNBC Africa's Wole Famurewa, Didi Akinyelure and Temilade Esho, Equity analyst, Renaissance Capital, analyse what went wrong with Oando.

Ronkuns:
Like Oando, like SkyeBank. Full Offer, No single Bid. It is well!

Please how about UBA? Is it falling.na govment money them declare as profit. Naija!!++

Krisuba:

Please how about UBA? Is it falling.na govment money them declare as profit. Naija!!++

It is o. Currently struggling @ 3.98. The Lazy Elephant @ 5.68. The CBN fine isn't doing these guys any good at all. Especially FBNH which has been trending southward lately. Only hope the Q3 figures will be impressive. Otherwise,

PETERiCHY:

http://www.cnbcafrica.com/video/?bctid=4578354041001



OANDO FY LOSS SHOCK MARKET
Mon, 26 Oct 2015 08:11:23 GMT
Oil and Gas player Oando shocked the market on Friday when it reported one of the largest full year losses recorded by an NSE listed company, adding up to over a billion US dollars. The diversified energy group reported a full year loss after tax of 183 billion naira and a subsequent half year loss of 35 billion naira. CNBC Africa's Wole Famurewa, Didi Akinyelure and Temilade Esho, Equity analyst, Renaissance Capital, analyse what went wrong with Oando.

Whenever i see your post, i expect either of two issues: Oil Price or Naira Devaluation. Kilode

Born2berich:
30M units on offer and no single buyer....I really pity the oandos faithfuls.

But seriously, Wale tinubu needs serious bashing. Which kind result be this?

Dont mind Wale, the result is good, he only released a bad result in order to crash the price to N5 and below so that he can mop up Oando's shares at a cheap price. I hope you are not selling yours.

manie:
Just finished listening to a stockmarket programme on 98.1 smooth fm. The analysts said the volume of Oando share quadripled between 2013 and 2015, can someone please confirm this information. I also learnt the the loss recorded by Oando is the highest in the history of any quoted company in Nigeria, according to the analysts the loss ought to be higher but for creative according and the loss will continue in 2015 and may extend beyond 2015. They also said the banks who financed the deals do not have problems because of the way the loan was structured, infacts the banks have started getting their money. The people who will suffer loss are Oando shareholders. The company will come to raise more funds, but analysts are not sure if future fund raising exercise of Oando will be successful only until things change for good in the company. Wale has a meeting with analysts at 4.00pm, and some of the questions they hope to ask him will be, 1. Did he pay a good price for the COP asset. 2. Is the COP deal a profitale one. 3. Does he think the timing of COP deal was right.

It's obvious that you don't know WT.

Until the NSE & SEC get their acts right with adventurers who have no business running public-quoted companies, the likes of WT will continue to bamboozle you with highfalutin sound bites.

The Oando scandal, for that's what it is, is a shame in a country struggling to convince investors that its regulatory bodies are up to the task. Ever since Ndidi Onyiuke violated the trust of the public by getting in bed with buccaneers such as WT, it's the public that had been suffering from the unholy alliance.

Oscar by now should have taken over Oando and expose its convoluted books to the light.

BTW, what's really Oando had been transferred to a private company called TSL.

Guess who owns TSL?

Born2berich:
30M units on offer and no single buyer....I really pity the oandos faithfuls.

But seriously, Wale tinubu needs serious bashing. Which kind result be this?

Bash someone who sits & snaps pics beside the First Lady in a helo?

You must be kidding!

Hope meristem has not invested heavily in Oando...................Their data is not up to date and I wonder what is causing sadness at their end.......

mojeer678:


It's obvious that you don't know WT.

Until the NSE & SEC get their acts right with adventurers who have no business running public-quoted companies, the likes of WT will continue to bamboozle you with highfalutin sound bites.

The Oando scandal, for that's what it is, is a shame in a country struggling to convince investors that its regulatory bodies are up to the task. Ever since Ndidi Onyiuke violated the trust of the public by getting in bed with buccaneers such as WT, it's the public that had been suffering from the unholy alliance.

Oscar by now should have taken over Oando and expose its convoluted books to the light.

BTW, what's really Oando had been transferred to a private company called TSL.

Guess who owns TSL?

Please tell us.
My ears are wide open

Agbalowomeri:
The truth is all of una still love Oando! Let market makers mop up the offer, una go see rushing inside the BRT. Even LASTMA self go follow enter. Chai humans!

Market makers will not touch the stock until when the price is right. The right price is sub N5, but Wale and the gang can do series of cross deals to give impression of trades on the stock.

Elai147:


Wahala dey ooo. e be like say dis one dey come meet me for N120 bus stop.

every were but is oando father of nse? total red bad, bad news .

Good day my good people of the stock exchange market, truly stocks are not doing well these days, but it will be better one day.

myjoy084 good day .

angelo82:
Hope meristem has not invested heavily in Oando...................Their data is not up to date and I wonder what is causing sadness at their end.......

owo community