Dey play.

TOE once said he does not plan to list the POWER arm until around 2027...

Zagee:

Personally, a worst case scenario for me is, if they go private. They are not ready to liquidate as stated in their report.

Accesscorp- Could it be that a major shareholder is exiting?

DeRuggedProf:
One Great Grand story I am going to release here shortly will clear all doubts that indeed the market is not for everyone...

...market is for everyone - the Bulls, the Bears and the Pigs

KarlTom:
Dey play.

TOE once said he does not plan to list the POWER arm until around 2027...

KarlTom:
I'm not a fan of lenghty reports but I will try and summarize.

Let me refer you to page 12 of the Annual Report, you'll find this paragraph:

"OML 56, OML 13 and OML 60-63 are currently the crude oil and
gas producing assets while Oando PLC engages in supply and
trading of crude, refined and unrefined petroleum products.
These entities account for 100% of Group revenue recognized
being N1,994 billion for the year ended 31 December 2022 (2021:
N804.8 billion)."

That's a revenue increase of 248%[/b]Good summary no doubt. In all of Oando's report, I am yet to see where Oando kept the money they realized from the sale of all their retail station to NNPC in October 2022 amounting to about 359 million dollars. Does anyone has a clue about this sale and where it is reported, or did the proceeds of the sale just disappeared?
Recall that in September, 2023, OandO Energy Resources (OER) bought [b]100% of ENI's interest in Nigeria Agip Oil Company.
This transaction does several things:
1. It DOUBLES OER stake in OML 60-63 (formerly 20%, now 40%). OML 60-63 are the few OER assets that are currently in PRODUCTION stage.
2. Oando’s total reserves (based on 2021 reserves estimates) stand at 503.3MMboe and the transaction will deliver a 98% increase.
3. It grows Oando’s exploration asset portfolio through the acquisition of a 90% interest in OPL 282 and 48% interest in OPL 135.

I strongly believe that 2023 FY will be better...

Good summary/analysis no doubt. The highlight of the recently released 2022 report should have been centered around the sale of all oando retail outlet to NNPC at the cost of 359 million dollars around October 2022. But I am yet to see where the proceeds is reported in the AFS account. Does anyone know where the money was accounted for, or did it just disappeared?

Oando offers now 11.7m from 12.6m some people still very much believe in iit despite the appalling result

KayOn1:
Accesscorp- Could it be that a major shareholder is exiting?

I was asking something like this yesterday

sterlingD:

I was asking something like this yesterday

No wahala, we dey. Will start buying again from Monday. Let's see how much further down it can go from now till then.

The cost of sale is still a mystery...

ndept:
Good summary/analysis no doubt. The highlight of the recently released 2022 report should have been centered around the sale of all oando retail outlet to NNPC at the cost of 359 million dollars around October 2022. But I am yet to see where the proceeds is reported in the AFS account. Does anyone know where the money was accounted for, or did it just disappeared?

KarlTom:
The cost of sale is still a mystery...

it was reported in NNPC's financial statement, though I can't laid my hand on it now.

https://www.legit.ng/business-economy/energy/1576499-nnpc-acquires-oando-petrol-stations-jetty-pays-n14055-billion-ph-refinery-continues-test-run/

The people selling FCMB shares at 6.50k. Is it that they bought it at 2 naira or what? Me I am not understanding this shares thing again oo. Is it that people are selling at a loss or what

olaremint:
The people selling FCMB shares at 6.50k. Is it that they bought it at 2 naira or what? Me I am not understanding this shares thing again oo. Is it that people are selling at a loss or what

Lol, e be like say u bought at #12

Tomorrow u will see people selling it for 4 naira tomorrow, hmnnn, it is well

olaremint:
The people selling FCMB shares at 6.50k. Is it that they bought it at 2 naira or what? Me I am not understanding this shares thing again oo. Is it that people are selling at a loss or what

Accumulate as much as you can or sell yours at the going price. As Cp said, there is money to be made or lost.

Lol, e be like say u bought at #12
No, I bought at 7 and 8 naira, the way it’s going down every day, it seems some people bought when it was 50 kobo.

Accumulate as much as you can or sell yours at the going price. As Cp said, there is money to be made or lost.

Sell kini, I am waiting for it to get to 2 naira, so that i will then buy as much as I can
We die there

KayOn1:


Accumulate as much as you can or sell yours at the going price. As Cp said, there is money to be made or lost.

They should just give 25k or 30k dividend this time around to crash the price more. We are waiting for them.

olaremint:


Accumulate as much as you can or sell yours at the going price. As Cp said, there is money to be made or lost.

Sell kini, I am waiting for it to get to 2 naira, so that i will then buy as much as I can
We die there

I am actually averaging up. My only fear is with AccessCorp, I do not know if a major shareholder is selling off.

I am actually averaging up. My only fear is with AccessCorp, I do not know if a major shareholder is selling off.

banks that are doing poorly since the CBN directives on recapitalization.
Seems a lot of abacradabra was going down or investors have developed cold feet.

olaremint:

I am actually averaging up. My only fear is with AccessCorp, I do not know if a major shareholder is selling off.

banks that are doing poorly since the CBN directives on recapitalization.
Seems a lot of abacradabra was going down or investors have developed cold feet.

2 years is a long time. The recapitalization will be met.

ndept:
Good summary/analysis no doubt. The highlight of the recently released 2022 report should have been centered around the sale of all oando retail outlet to NNPC at the cost of 359 million dollars around October 2022. But I am yet to see where the proceeds is reported in the AFS account. Does anyone know where the money was accounted for, or did it just disappeared?

The proceeds from the sale of Oando retail outlets to NNPC was used to pay down the loans and borrowings.
It is reported in Page 79 of the 2022 Accounts under Note 40(b) ''Changes in Liabilities Arising from Financing Activities''.....in the ''Cash flow - Payments'' column of N562.326b....... to settle Interest Bearing Loans and Borrowings (Current and Non-Current)

olaremint:


Accumulate as much as you can or sell yours at the going price. As Cp said, there is money to be made or lost.

Sell kini? I am waiting for it to get to 2 naira, so that i will then buy as much as I can
We die there

...good! That's the way to go. Before you see it at 2 naira, buy some between 4.50 & 5 naira too

KarlTom:
I'm not a fan of lenghty reports but I will try and summarize.

Let me refer you to page 12 of the Annual Report, you'll find this paragraph:

"OML 56, OML 13 and OML 60-63 are currently the crude oil and
gas producing assets while Oando PLC engages in supply and
trading of crude, refined and unrefined petroleum products.
These entities account for 100% of Group revenue recognized
being N1,994 billion for the year ended 31 December 2022 (2021:
N804.8 billion)."

That's a revenue increase of 248%

Recall that in September, 2023, OandO Energy Resources (OER) bought 100% of ENI's interest in Nigeria Agip Oil Company.
This transaction does several things:
1. It DOUBLES OER stake in OML 60-63 (formerly 20%, now 40%). OML 60-63 are the few OER assets that are currently in PRODUCTION stage.
2. Oando’s total reserves (based on 2021 reserves estimates) stand at 503.3MMboe and the transaction will deliver a 98% increase.
3. It grows Oando’s exploration asset portfolio through the acquisition of a 90% interest in OPL 282 and 48% interest in OPL 135.

I strongly believe that 2023 FY will be better...

It is reported in the 2022 Accounts that Oando made losses for 2023

BullBearMkt:

...market is for everyone - the Bulls, the Bears and the Pigs

We need the pigas to remain afloat 😂

Jaakay:
If you dig deep into the 2022 funancials, they have already told you they made a loss at 2023FY unaudited account, with the hope to come back to profitability by 2024FY. They will be coming to raise funds at some point, either through the market or via bonds.

This is very true.
Oando is planning to raise more funds from the market very soon, either through bond issue or shares offer, or both!
Please let us all read pages 91 and 92 of the 2022 financial report!

if the court case is settled and the request for delisting is thrown out, there may be a rush of activity in Oando!
I pray it favours us all!

Oando peeps are hoping, praying, debating and hanging on to 2022 Q1 Financial Statement for survival; while the rest of us are already making moves in the 2nd Quarter of 2024; and other companies are showing industry forecast for 2025 and beyond. When you talk about living in the past, this is a typical example of it. Is this not one of the 7 wonders of the NGX?

mikeapollo:


This is very true.
Oando is planning to raise more funds from the market very soon, either through bond issue or shares offer, or both!
Please let us all read pages 91 and 92 of the 2022 financial report!

if the court case is settled and the request for delisting is thrown out, there may be a rush of activity in Oando!
I pray it favours us all!

They want to scam another generation Lol
PeTEriChY and MyJoy08 never still recover from their last adventure over 10 years ago

Oando prophet, are we still good to go or we should just give up on Wale?

I'm asking on behalf of the Oando newbies? Peter pls don't reply this message oooooo because I sabi una gamblers wey dey set trap for newbies?

Agbalowomeri:


They want to scam another generation Lol
PeTEriChY and MyJoy08 never still recover from their last adventure over 10 years ago

Agba don come with comedy

Agbalowomeri:


They want to scam another generation Lol
PeTEriChY and MyJoy08 never still recover from their last adventure over 10 years ago

Wahala Oti kpoju!!!

mikeapollo:


This is very true.
[b]Oando is planning to raise more funds from the market very soon, [/b]either through bond issue or shares offer, or both!
Please let us all read pages 91 and 92 of the 2022 financial report!

if the court case is settled and the request for delisting is thrown out, there may be a rush of activity in Oando!
I pray it favours us all!

When they bewitched una finish.

But eyes Don open well nah

Adinije:
Lol, e be like say u bought at #12