₦airaland Forum

megawealth01:
He didn't promise dividend but promised a turnaround SOON without mentioning WHEN

BabsO2:
This is a very very very good sign
It's the review of the materiality of the new acquisition that causing the auditors to need more time.

So the CFO is okay. It's the complexity of additional acquisition that needs to be factored in that caused the delays plus the auditors needing extra time to assess the materiality of this additional information before concluding the audit opinion. Great

Hopefully the Oando rally will resume first week of November.

Mpeace:
https://doclib.ngxgroup.com/Financial_NewsDocs/42408_OANDO_PLC-OANDO__PRESS_RELEASE__CORPORATE_ACTIONS_OCTOBER_2024.pdf

yMcy56:
UBA
Closed @30.10!
Nice job by the MM
..

megawealth01:
Let there be no vawulence na

Which one be corporate wizkids? Just call them by their names

phadriz:
I know, just for those who will gain from it ni.
Intercompanies is the middleman for major shareholders to cheat other stakeholders

emmanuelewumi:
You no suppose to dey give unsolicited counsel. Experience is the best teacher

megawealth01:
You GERRIT. He should just step one side

emmanuelewumi:
The purchase of Unipetrol was an anomaly. He is one of the billionaires created by Obasanjo. Used to work with late Chief FRA William law chamber and was on the desk that handle oil and gas contracts and law.

The company which he promoted was less than 10% of Unipetrol, reason why the purchase was highly leveraged and they went on asset stripping when they took over the company.

The company was the least among those that bidded for FGN shares in the company

phadriz:
Dey play!

CFO report in manner that the CEO & the board want it to be.

Any company that has so many intercompany transactions is a fraudulent company.

ghm:
If this is true, for the company to get to the next level, then it is time for him to become the Chairman and hire a CEO that will take the company further and make Energy money for him and the other shareholders.

Sunrisepebble:
Those not in Presco already, I think this alongside naira depreciation are good signals for stellar Q3 and FY results.

https://www.malaymail.com/amp/news/money/2024/10/25/malaysias-palm-oil-surge-whats-driving-prices-to-biggest-highs-since-2022/154752

DYOR

Agbalowomeri:
But foreign reserve is foreign reserve. Obligations no join for the matter. Even the US is in a large negative. Let them keep building the foreign reserve. At least, it is a positive in one direction

megawealth01:
Make I give you my usual emoji

Founder nko foundee ni

But on a more serious note he can still be Wale without being actively involved in Oando stuff. Come to the West many founders of companies allow them to run without unnecessary influences...

Wale is a badt boi

emmanuelewumi:
Go back to history.

Unipetrol is older than Wale

phadriz:
Don't mind CBN Governor with his misleading information, he was asked Net-foreign reserve, he couldn't give the information. They said they will work on it and disclose it Q1 2025. I know the net will be negative figure. How can you be declaring assets and ignore the obligations?

megawealth01:
Wale should just step down

ghm:
Truth be told, OANDO needs to sit up, a listed company with over N 1T market capitalization should not be having these type air about defaulting in scheduled reporting around them. We are talking about a multinational, highly capitalised company in one of the most established sectors in the world.

The management should start by firing the CFO and replace him with a professional who is ready for world/best-in-class standards.

mikeapollo:
It is a fact that there has never been a single oil and gas upstream company in Nigeria's history which commands the quantum of oil and gas reserves that Oando has acquired, that has been declared bankrupt or liquidated because it was no longer a going concern!
Oando is having cashflow problems, but they have assets that are worth more than their total liabilities! How quick they are able to generate the necessary liquidity to settle their liabilities is the challenge here!

emmanuelewumi:
Referring to Dangote Sugar that made a loss but released their result, compared to Oando that might have made a loss and didn't not release the result.

10 months after 2023 result is not out, 6 month 2024 is not out.

emmanuelewumi:
Because they are not Monkey Hunting.

It appears some people are paid Monkey Hunters, so that people with privilege information can easily sell at a premium.

Reason why old favourable news are being recycled

yMcy56:
GTCO @53!

The banks seems to be looking up...


Make Una rest from OANDO discussion small.....😁
Once results are released, the suspension will be lifted....
If results are good, it will come back stronger, so I Blvd.
Those that rushed to buy yesterday may know something, we don't know the reason for their actions.

godlyguy:
They will be suspended

KarlTom:
There are exceptions.

UBA was delayed... 😉

godlyguy:
Where is Oando's result?

Be wise

KarlTom:
I don refresh Corporate Disclosure tire...

Sunrisepebble:
How do the solve the negative equity is my question

Sunrisepebble:
How will it when nobody is even buying 100k

mikeapollo:
This is a fallacious fantasy!
There is nothing like ''production war room''! Oil and gas is produced in the oil fields, not in any ''room'' anywhere.
Oando should cut this crap and focus more on delivering good production numbers from their now-revamped oil fields and their financial performance

megawealth01:
Like I told you back sometimes ago, If I see improvements in Oando's books I will load up a lot of to add up to the quantities I have left with meristem . Make they improve their books first. I don't even mind their price if this happens

olig:
But this is not the case Stanbic IBTC Stockbrokers Limited. You have to provide utility bill that bears your name. I am technically stuck with them because of that. Unfortunately, I can't even sell my holdings or withdraw. After opening the account it was dormant in less than two months, without notice.
They are now telling me that I should provide a Stanbic bank account, etc.
I still don't have their time yet; I don't have much there. My old certificate that I want to demat are also with them for close to three months now. They kept pushing me here and there.

Ginalex:
Something hoooge is coming... Elumelu stocks are sh*aking their a$$es on a yatch .. maybe birthday present go come in early . I didn't have the audacity to average down much, but I was only able to average down from 358 to 334