mercylicious:
The end is really near.

Am trapped in the closet. Stop loss crossed on two of my stocks.

U are right, endtime tins. The financial holocaust is here, lets learn the process of events of 2009 till data after the global meltdown. The Era of oil is gone.

Chibuking81:
please do you know when the foreign investors will come back? I hope the will not seek for stock reconstruction as only condition of coming back? Please BITL Ihedioramma do you know too.

No idea sir ..all i know is that they will surely come back

https://next.ft.com/content/6cdbabbc-9cf3-11e5-b45d-4812f209f861

Oil fell to its lowest level in almost seven years as traders delivered their verdict on Opec’s failure to agree production cuts at a rancorous meeting last week.

Brent, the international oil marker, fell 4 per cent to $41.22 a barrel as the aftershocks from Friday’s marathon policy meeting reverberated around the market. A stronger US dollar also weighed on prices.

On the other side of the Atlantic, West Texas Intermediate, the US oil benchmark, fell more than 5 per cent to $38.06.

lancee:



Na my boss go tell us when to enter market ..he will know the price of crude oil by then

your boss peterichy?

Chibuking81:
please do you know when the foreign investors will come back? I hope the will not seek for stock reconstruction as only condition of coming back? Please BITL Ihedioramma do you know too.

as from 2/2/2016 .

Pls who here have receive(d) their share bonus 4rm FBNH?

http://thenationonlineng.net/mtef-fec-approves-n6tr-expenditure-for-2016/

Is this what caused Dangcem to gain N10 at the close of market today and help the ASI to gain +0.7%?

ihedioramma:
as from 2/2/2016 .

Flesh and blood did not reveal this to you...

We are very close to our destination! Distraction is necessary but one should not prioritize it. It shall be well with Nigeria!

Oando gets approval for N80bn Rights Issue
By - December 8, 2015 0 110

The Board of Directors of Oando Plc has received approval from shareholders for a N80bn Rights Issue.

The shareholders also approved the partial divestment of the firm’s midstream and upstream services businesses as was done with its downstream business in order to attract substantial capital to fuel its growth initiatives.

Oando, which is Nigeria’s largest indigenous oil and gas company and integrated energy solutions provider, reaffirmed its commitment to creating value for shareholders during its 38th Annual General Meeting held in Lagos on Monday.



The company outlined its growth strategies to for the extended period of lower oil prices to include aggressive debt reduction, financing through partial divestments, and further diversification into the higher margin upstream.

By ensuring a reduced overhead at the group level and to optimise performance, Oando said it was seeking to drive focused and independent subsidiaries, which could raise stand-alone capital to exploit clear market opportunities.

In 2011, the company received shareholders’ approval to divest part of its downstream business, which came to fruition in 2015 with the sale of 60 per cent economic rights and 49 per cent voting rights of the business to a joint venture consisting of Helios Investment Partners, the largest African focused private equity company, and Vitol, the world’s largest independent energy trader, for a total consideration of $461m.

The divestment, the firm said, would reposition it for a new era of investment, growth and profitability, while enabling the Oando Group to focus on its midstream and upstream ambitions.

Copyright PUNCH.

http://www.theguardian.com/business/2015/dec/07/opec-plan-kill-us-shale-oil-price-down-seven-year-low

Oil prices have slumped by 5% after the latest attempt by Saudi Arabia to kill off the threat from the US shale industry sent crude to its lowest level since the depths of the global recession almost seven years ago.

Signs of disarray in the Opec oil cartel prompted fears of a global glut of oil, wiping $2 off the price of a barrel of crude on Monday and leading to speculation that energy costs could continue tumbling over the coming weeks.

A barrel of benchmark Brent crude was changing hands for less than $41 a barrel in New York on Monday night after Opec – heavily influenced by Saudi Arabia – did nothing about a market already seen as saturated.

US light crude, which tends to trade at slightly lower levels than Brent, recorded similar falls, dropping from just over $40 a barrel to less than $38 a barrel.

angelo82:


This is where the job get tricky and is not about pulling it down more...............Is sick to have the ability of disseminating negative news especially if you have portfolio...................Is not easy for anyone with portfolio to always give pessimistic opinion and rejoice over negative news.............Only the people on the sideline can do such...............The issue is to focus and I believe things will change................What we are suppose to deliberate on here should be why CBN policy is not supporting banks...............Why not refund part of the penalty fee back to UBA,FBNH and Skye.............Is Emefele through Ovia trying to deal with some banks by pulling them down..............Different sentiments is affecting the market and that has complicated everything but I am certain about first quarter of 2016..............Most of the banks are now affected with the bears even GTB,Stanbic,Zenith.................Things will soon be ok and buying at this point is not a bad idea..................You need time to accumulate and is not only about the price but how many volumes can you buy at a go when it reaches your destination?..............

Bull make money,
Bear make money,
Pigs get slaughtered.

http://www.thisdaylive.com/articles/oando-shareholders-approve-n80-billion-rights-issue/227401/
Shareholders of Oando Plc on Monday approved
the proposal by the Board of the company to
raise N80 billion through Rights Issue and partial
divestment of its midstream and upstream
services businesses. The shareholders gave the
approval at the company’s 38th annual general
meeting (AGM) held in Lagos.
In approving the proposals, however, the
shareholders tasked the board and management
to ensure the company returns to profitability
and declare dividends going forward.
The directors had requested the shareholders’
approval as part of strategies to attract
substantial capital to fuel the company’s growth
initiatives.
“With the continued global economic downturn
due to depressed oil prices,many oil companies
are facing a persistent challenge in generating
substantial short-long term value for
shareholders. Companies have taken proactive
measures such as divestments, capital
expenditure cuts, and suspension of projects to
ensure profitability and returns for shareholders
in this new reality of low oil prices,” the
company said.
Speaking on the company’s growth initiatives
and key drivers for creating consistent
shareholder value going forward, the Group
Chief Executive,Oando PLC, Adewale Tinubu
said: “The sale of 60 per cent of our
downstream business is in line with our
strategic goals of placing our fundamental
growth expectations in the Upstream, and the
cash proceeds of the divestment will be utilized
towards debt reduction to shore up our balance
sheet in these challenging times. Our strategic
focus is to increase our operational efficacy
across our subsidiaries, deleverage our balance
sheet, and return the company to profitability,
whilst creating the necessary platform to be the
partner of choice to the IOCs as they continue
their divestment programmes.”
According to him, with crude prices in a lull and
a renewed emphasis on gas globally, Oando will
seek to expand its footprint in the electric
power market with the development of up to
300MW grid/embedded power projects;
development of up to 100mmscfd Compressed
and Liquefied Natural Gas projects to meet the
energy requirements of Nigeria’s fast growing
economy among others.
Oando Plc had ended the 2014 with a historic
loss of N184 billion. The integrated energy
company also ended the nine months to
September 30, 2015 with a loss of N47.8 billion.

Oando for 80 billion naira right issue, no hope for dividend from Oando soon. They are looking for money to pay up their huge debt.

http://dailyindependentnig.com/2015/12/08/fg-proposes-n6trn-budget-38-dollars-oil-benchmark-2016/ FG Proposes N6trn Budget, 38
Dollars Oil Benchmark For
2016
The Federal Government on Monday proposed a
budget of N6 trillion for 2016 at an oil bench
mark of 38 dollars per barrel.
The Minister of Budget and National Planning,
Sen. Udoma Udo Udoma, gave the indication
while addressing State House Press Corps after
an emergency Federal Executive Council meeting
presided over by President Muhammadu Buhari.
The minister said the proposal was contained in
the Medium Term Expenditure Framework
(MTEF) approved by the council.
“At today’s council, council approved the Medium
Term Expenditure Framework.
“This sets out the policies of government over
the next three years. It sets out the fundamental
economic underpinning of the budget.
“The highlights are as follows. We project and
we are working with 38 dollars crude oil price.
“We consider that to be very conservative but
because of the uncertainties we feel that we
should start with a conservative crude oil price.
“We also are working with 2.2 million barrels per
day production.
“We believe it is achievable, particularly because
with the passage of the Petroleum Industry Bill
which we are working to achieve, we believe that
that is actually a modest figure; that we should
be able to produce something higher than that.
“And so, next year we are looking at an
expansionist budget. We are looking at a budget
that will be N1 trillion more than last year.
“So we are looking at a budget of about N6
trillion. Last year’s budget, including the
supplementary, was about N5 trillion.
“Most of the increases, all the increases actually
will be spent on capital because there is the
need to increase the capital spend because of
our infrastructure issues we have to address.’’
According to him, the plan will be submitted to
the National Assembly and a feedback expected
after which the budget will be finalised with all
the details embedded.
The minister said that the funding for the budget
would come from earnings from the non-oil
sector.
“We are looking at trying to get more money
from the various government agencies, policing
their collection and trying to get more money
from them.
“We will also look at keeping down our recurrent
budget, that means we are looking at savings
that we can make from overheads.
“We will also look at the defficiency from our
revenue collecting agencies like the FIRS, in
terms of companies income tax; in terms of VAT,
and then the difference we will have to borrow.
“But the level of borrowing that we anticipate
and we are projecting will be well within the
maximum that we allow, which is three per cent
of the GDP, because we want a prudent budget;
we want a credible budget.’’
Udoma futher said that the council was working
on the exchange rate that the Central Bank of
Nigeria had given for the budget, adding that it
was also looking into whether fuel subsidy would
be retained in 2016.
According to him, government is projecting
almost 30 per cent of the budget on capital
projects, up from the 15 per cent or so that it is
currently.
“We will try and reduce overheads, but keep
personnel cost; we are not going to adjust it by
much.
“But we at expecting some savings from the
Integrated Payroll and Personnel Information
System (IPPIS) which we are using; so we are
not cutting anybody’s salary; everybody will get
their salaries.’’
The minister, however, declined to mention how
much of the looted funds had been recovered by
the government so far.

http://www.punchng.com/?p=13884

As the global oil benchmark Brent crude on Monday fell to its lowest level in almost seven years, Nigeria and other countries that rely on oil revenues will take further beating amid supply glut in the market, experts have said.

Brent, against which Nigeria’s oil is priced, fell on Monday by $2.31 to $40.69 per barrel, its weakest since February 2009, while the US benchmark West Texas Intermediate was trading around $37 per barrel.

The further slide in oil prices came on the back of the decision by the Organisation of Petroleum Exporting Countries to retain production at the current level and a stronger dollar, which made it more expensive to hold crude positions.

735i:


Flesh and blood did not reveal this to you...

are you working in any of the two?

http://www.proshareng.com/news/Nigeria%20Economy/Another-decline-in-Federal-Reserves/29490

Data from the CBN show that official reserves decreased by US$276m in November to US$29.9bn on a 30-day moving average basis.

This compares with a loss of US$150m the previous month. The fall which was greater than that of the previous month was due to the rise in domestic demand for dollars.

PETERiCHY:


Bull make money,
Bear make money,
Pigs get slaughtered.

Hello to you too.................

hello to you and gtb.......

Those on the sideline that don't want to toy with their life and money should patiently wait and watchout for ALL SHARE INDEX hit between 20000- 22000 basis point before taking a dive.

The guns are yours

*ThE OcToPuS*

Zenith Bank??

myjoy084:
We are very close to our destination! Distraction is necessary but one should not prioritize it. It shall be well with Nigeria!

with every downward tick we are getting closer to a major bull

I hope my dream is not coming true about Skye.............I saw that it went as low as 1.35k but I always wave aside such dreams when it comes to stock market..................

nse Bear now turning confused persons into dreamers and regular teeth openers.

How are All share index and market capitalization calculated.

And nse turning you to a nuisance.....................

angelo82:
And nse turning you to a nuisance.....................

u forgot to shine your dirty teeth!!