₦airaland Forum

ProphetUtuocha:


https://nairametrics.com/2024/08/30/oandos-non-executive-director-resigns-for-national-role/

yMcy56:
JAPAULGOLD on full bid @2.48....

Streetinvestor2:
All that bids for Friday go likely they offer side tomorrow.
Tomorrow na day for another casting

brotherly:
clearer explanation from chatgpt


Oando PLC, one of Nigeria’s foremost energy companies, has completed a significant acquisition by purchasing 100% of the shareholding interest in the Nigerian Agip Oil Company (NAOC) from the Italian energy giant Eni. The transaction, valued at $783 million, includes both the assets and a reimbursement component, marking a pivotal moment in Oando’s strategic expansion.

Key Highlights of the Acquisition:
Increased Ownership and Operational Control:

The acquisition doubles Oando’s participating interest in several critical oil mining leases (OMLs 60, 61, 62, and 63) from 20% to 40%. This expanded stake gives Oando greater control and influence over these key assets.

Oando now has a significant ownership stake in the NEPL/NAOC/OOL Joint Venture, which includes extensive infrastructure such as 40 discovered oil and gas fields (24 of which are currently producing), 12 production stations, approximately 1,490 km of pipelines, three gas processing plants, and the Brass River Oil Terminal.
The acquisition also includes the Kwale-Okpai power plants (Phases 1 & 2) with a combined capacity of 960MW, further solidifying Oando’s presence in the energy sector.

---

Massive Increase in Reserves:
With this acquisition, Oando’s total oil and gas reserves have increased by 98%, adding 493.6 million barrels of oil equivalent (MMboe) to bring the company’s total reserves to approximately 1 billion barrels of oil equivalent (Bnboe). This significant boost in reserves positions Oando for sustained growth in the upstream oil and gas sector.

Immediate Financial Impact:
The transaction is expected to be immediately cash-generative, providing a substantial contribution to Oando’s cash flow. This financial boost is crucial as Oando continues to pursue its long-term strategic objectives.


Strategic Implications:
Long-Term Growth and Operational Efficiency:

Wale Tinubu, Group Chief Executive of Oando PLC, emphasized that this acquisition is the culmination of a decade-long effort, beginning with Oando’s entry into the Joint Venture in 2014 through the acquisition of ConocoPhillips’ Nigerian portfolio. By taking full control of these assets, Oando aims to optimize their potential, increase production, and drive operational efficiency.
The company plans to focus on advancing production capabilities while adhering to responsible and sustainable practices, balancing the needs of host communities with environmental stewardship.


Broader Strategic Diversification:

Looking ahead, Oando is committed to exploring strategic diversification opportunities within the broader energy sector. This includes potential expansions into clean energy, the agri-feedstock sector, energy infrastructure, and mining. Such diversification is expected to provide enhanced growth and value creation for Oando’s stakeholders.

Forward-Looking Statements and Cautionary Notes:
Risks and Uncertainties:

Oando has included forward-looking statements in its announcement, indicating plans for future acquisitions and strategic moves. However, these statements are subject to inherent risks and uncertainties, such as fluctuations in oil prices, the success of ongoing exploration and production activities, and regulatory changes.

The company cautions that actual results may differ materially from current expectations, and readers should not place undue reliance on these forward-looking statements.

Resource Estimates:
The company also notes that the resource estimates provided, including barrels of oil equivalent (BOE) and natural gas equivalent (Mcfe), are based on certain assumptions and conversion ratios that may not represent actual value at the wellhead.

Conclusion:
The acquisition of NAOC marks a transformative step for Oando PLC, significantly boosting its assets, reserves, and production capacity in the Nigerian oil and gas sector. As Oando assumes the role of operator, the company is poised to leverage these assets for enhanced operational efficiency and long-term growth, all while exploring new opportunities in the energy sector and beyond.

purity2all:
@Bagwa, thank you for the heads-up.

Ese pupo!

Streetinvestor2:
Some people are expecting to see Tinubu name as owner of oando. I like that play.Oando which sold its retail filling stations has turned back to own both the ones sold and nnpc initially owned stations. It now owns 49% in the business..This is how oando was able to buy agip.The banks will soon write off thr debt as bad loan from forex gain.This government is to corrupt I swear.It will take God grace for any refinery to work in this country as long as this government is in office.
Nigerians need to take back thr country

KarlTom:
Good Morning @Bagwa

OANDO FULL BID?

Streetinvestor2:
Is this not bad news if he now holds 80%.You can imagine what he can then do

Raider76:
Up and down is good. If one Jijo well one can get to 200 with more shares. Just tell Wale not to delist.

Raider76:
All da talk say Oando 3 digits and #150 de sweet my belle well well. If dat happen I don land be dat.

Streetinvestor2:
The sheep gang are really unbelievable. Why will I ever think of having double moniker talkless of being a clown on nairaland. Is the owner of nairaland paying me.I am 23 yrs now in nse from 2001.I have gone past looking for money to eat.Na generation wealth level I dey now.I only had one moniker in smn and 2 for this thread.I deleted the other because of security threat and
created street investor and stick to it.I will create many if the owner of this thread decides to start paying me.
I get many active businesses and and has never sold any stock for 23 yrs to pull out the money from stock market for anything.

It is faceless forum so you can post anything.

I have grown past to follow follow. I am strictly an investor lol

Agbalowomeri how far with the garri ministry

Choiceguy:
I can't buy Oando @ N50,I rather wait and know why I should buy at N100.if it worth buying it then I can buy. entry point for me Oando 10-20 (30) and 100.

My point is those of us that are still in Oando bus should at least sell @ 40-50 to recover their invested capital why they keep watching the gamble game.we should not be extreme greedy.

GeeKudi:
Not available actually.

purity2all:
Our oga, any other new thing in the pipeline?

Streetinvestor2:
Is this your personal thought or what is on the table to be played by management since it looks you operate in the inside

megawealth01:
I've tried all I can to avoid OANDO talks because when you want to offer honest contributions here people get extremely emotional...

BUT

My only concern in all this Oando bla bla na Wale

You see Wale changing abi being born again eh... I laugh in Swahili

Shebi on top this Oando matter everybody go collect when time comes...? We are watching

It depends on what you define as your collect ooooo... It can be collect profits if you play well or the other collect wey people here hate wella

SonofElElyonRet:
The person who boughf from you is grateful

SonofElElyonRet:
Oando Bid checkers help us check current bid status this morning.. are we still on course for another 10% ?

Ginalex:
Oga @Bagwa thank you o

SonofElElyonRet:
I understand that news of approval and receipt of N20billion placement funds will break soon... @bagwa

SonofElElyonRet:
Seen