₦airaland Forum

megawealth01:
I love you because you are always HONEST na why me and you dey tango

The genesis of all these was that statement made on the FIRST DAY "SUBSIDY is gone"

Subsidy can be removed without mentioning it on the first day... Well we have kept the ground running since then

If I say what's in my mind about Blulaba, the owner of nairaland go ban my account forever as they banned my original moniker

Please say it. People need to voice out!
The govt is just totally useless and clueless. Just packed his Lagos boot lickers and gave them FG appointments in Abuja with nothing to show. Very nepotistic, incompetent govt. It is just a pity he bears same surname with the CEO of my Oando.

olig:
Unfortunately, even Madam Patience Jonathan does want to go back to Aso-Rock.
I know is that "I want to share love with you people" (in Madam Patience voice), and get some OANDO-like loot (since I missed out on OANDO)

When I say Tinubu's govt is useless, clueless and a big failure, this is the just one reason. A govt that does not think well before it acts will only end up throwing the people into crises and suffering.
He has created a huge public image and credibility trouble for Wale Tinubu and Oando, all because of his bad government policies

Payunsin:
My liver don dey cut, I have started selling part of my Oando.
Though I still have the believe it will rally higher

Oando has now become what the Yoruba call ''Igbo Odaju'' i.e. a dangerous forest for only the mean, brave and strong-willed heart.
Do not enter if you cannot stand the horror!

maasoap:
Because I get sense, that's why I would say the same thing. Everything shouldn't analysed using politics. I voted for Tinubu if you care to know

Tinubu is just useless, clueless and a disaster!
But I try to separate his uselessness and disastrous govt from the Oando issues, because I have been following Oando long before Tinubu collected APC forms to contest for the presidency

MARKETJJC:
we told them, ETERNA will be moving as long as Oando dey move, then now with increase in PMS, more money for us. People crying dumping will not come out now

Eterna cannot be perching on Oando for ever!
Where was the ''Eterna team'' when Oando fans were under huge stress and pressure waiting for countless court adjournments? Plus the mockery from those who do not believe in our team and our coach (Wale)?
Even twins get separated when the time comes. Eterna fans must watch out, We cannot continue to play ''fixed friendly matches'' for 10% daily gains!

megawealth01:
Someone said I was MH on ETERNA and I laugh... Na so una go make people with sincere motives of helping you guys get wealthy just keep mute...

I usually ignore silliness anyways because as an ANAMBRA ELDER I don't have time for stupidity

My man, just do the best from your good heart, and leave the rest for God and posterity. Remember this forum is full of the good, the bad, the ugly, the stupid and the wise!
If you have something that can benefit humanity (generality of this forum), be kind to share. Those of us who appreciate will thank you for it, just like we thank ProphetUtuocha for his Oando revelations. But he was also insulted by some people.
How many of the 10 lepers that were healed by Jesus Christ came back to thank Him?

Pete002:
so, is "overbought" for the poor?
the buying power is crazy

I suspect there is some deliberate effort/attempt to make sure that Oando's price rises as much as or higher than the price of MRS and CONOIL which are downstream companies

Mrexcell:
Nnpc abi oando retail?

Where would you see Oando retail? Don't be deceived by the lies and propaganda.
NNPC Ltd (Headquarters, Abuja) is the owner of all its retail outlets, including NNPC Retail Ltd and OVH Ltd, which was sold to NNPC several years ago. Oando is no longer the owner of OVH!

megawealth01:
Truth is bitter just it should not be coming from Atiku anyways because na dem dem

I believe the truth can be spoken by anyone. Even in the Bible, the demon-possessed spoke the truth that Jesus Christ is the Son of God and the Messiah!

You may educate me, maybe I did not understand properly.
What is the verified ''truth'' that Atiku spoke as regards the timelines for the so-called ''accelerated'' approval of the ENI-Oando deal?
Anything described as ''accelerated'' must have reference timelines. What are the timelines in this instance as stated by Atiku?

HesInMe:
Ugh. This is not a serious company. They don't have better things to do? I am ashamed to be a shareholder.

How do you mean? You prefer the company keeps quiet when its image is being damaged with politics and lies?
Mind you, Oando as a business has many stakeholders who care about the public image of the company. Shareholders are not the only stakeholders. You may not care, but others do. You need to know that bad reputation can destroy or reduce the value of your shares in the company!

So it is best practice for Oando to state their own side and put it on record.
Now, it has been revealed that there was no accelerated approval for the ENI-Oando deal. The PIA law says approval should be given in 180 days, but it took them 248 days (extra 68 days).
The law also says that it is the seller of the OPL/OML (ENI) that should comply with all the legal requirements and apply to get approval from government, not the buyer (OANDO)
This shows that Atiku and his camp got it all wrong.
The public should be well educated in things like this otherwise the politicians will be manipulating and taking advantage of our ignorance to play cheap politics. This is why a well-educated populace is a threat to Nigerian politicians; they prefer the ignorant majority so they can lie and deceive them easily.

maasoap:
Dulard! The report said that the vessel belonged to him and that didn't mean that the cargo in it belonged to him as well. Una get common sense at all?

Would you say the same thing if it were Oando or Wale Tinubu that was mentioned to own the vessel?

naturalflow:
If oando continues with this 10 over 10% till 30 September when they will release their result na 1650 or $1,be that oo. Chai ,

You and I know quite well that that is unrealistic between now and Sept 30.
But Oando can get to that N1,650 in 2025 or beyond if they release good results.

KarlTom:
Make una free OandO naa

https://doclib.ngxgroup.com/Financial_NewsDocs/42089_OANDO_PLC-OANDO_PRESS_RELEASE__CORPORATE_ACTIONS_SEPTEMBER_2024.pdf

Good that Oando has issued this statement with a caution of possible legal action
It is only those who are ignorant or mischievous that would believe the lies of ''accelerated'' approval being given to one company to the detriment of other companies.
The oil and gas sector is a global sector hence any wrong step taken by government could lead to serious international diplomatic issues that we do not imagine. How could you possibly favour an ENI (Italian) and frustrate a Mobil (American) or Shell (UK), all because of small a company like Oando?

ProphetUtuocha:
This also has been fulfilled. OANDO is now a member of the prestigious SWOOT family

Hi Prophet, the people say I should appeal to you to drop the next gem/jewel that we should go for.
Your revelations about Oando are well appreciated.

megawealth01:
Must you call Oando?

It's a premium service

Lol! . I deliberately included ''Oando'' so I could search and track the discussion more easily. It is for a reason.

megawealth01:
Today's Top Volume Trades

Which app/portal do you use to monitor trades on NGX (not only Oando)?

ProphetUtuocha:
This also has been fulfilled. OANDO is now a member of the prestigious SWOOT family

You scored 1000% in your prophecies about Oando.
Your prophecies encouraged me to stay put in Oando (no shaking), and I thank you for that.

megawealth01:
Check well the guy said one thousand dollars/unit

Even Wale will laugh enter gutter! Na only Oando be listed stocks on NGX?

megawealth01:
Just imagine Oando at $1k/unit as someone predicted this morning 😂

Lol.
You and this newly found $1 target price for Oando...! All of a sudden!
Keep laughing at the faithful ones!

megawealth01:
My only P about this Oando thing is Wale

This is my opinion and I'm entitled to it

This opinion is valid and is shared by many people and stakeholders in the industry have similar misgivings about him. That partly explains is why Oando stagnated for so long during the court case.
So that is not an issue to me. I am not here to defend Wale or Tinubu or anyone else.

But most Nigerians just like to tell reckless lies, fake news and spread rumours, especially against ''big men'' and politicians in our society. Ribadu (as EFCC Chairman) told Nigerians that Tinubu was corrupt (to please OBJ as president at that time). Today, the same Ribadu has jumped to accept an appointment from the same ''corrupt'' Tinubu.

Please Note:
I am not a fan of Tinubu. His govt has been clueless and a disaster as far as I am concerned

ojeysky:
How does a company that sold what he has to NNPC become to one buying it again from NNPC. Where did they get the money from, if not political muscling but again I might be wrong sha. Tinubu name on things gives me goosebumps

Please, try and read some text on acquisition and merger of companies, as well as corporate governance,. This is how how we all can learn and educate ourselves and not join in making ignorant noises.

If I establish a company called ''MOA'' using the initials of my names, I can sell the company to another person, and the person can still decide to retain and use the same ''MOA'' as the name of the company he bought from me. The company no longer belongs to me, but belongs to the new person, even though he is still using the old name ''MOA''.

That is what happened between Oando and NNPC, but the name ''OVH'' is getting people confused, believing that OVH still belongs to Oando. OVH is now owned 100% by NNPC because it had been sold to NNPC years ago.

megawealth01:
My brother I'm very careful with words because I'm a Christian and proud about my faith in public... I don't tag people carelessly for who they ain't.

I never tagged Wale has corrupt ooooooo

No, I was not referring to you at all.
I was only referencing the guy who said that it is corruption and current government that are working for Oando.

megawealth01:
In all honesty. Wale is just the problem of Oando

If he is out of Oando I will commit 5% of my WEALTH into Oando

I agree. Wale may not have the credibility or positive perception about his personae, based on his antecedents in the past. So every investor has the legitimate right to be doubtful and wary of him as CEO of Oando. The SEC had a running battle with him when they discovered some irregularities in the accounts of Oando, years back. That has been resolved now, but people can still be wary of him because of that history.

But doubts and perception of lack of credibility should not automatically translate to allegations of ''corruption'', without evidence or proof! Every man is presumed innocent until evidence is adduced to prove guilt!

ojeysky:
Congratulations to all the Oando Geng, it's definitely been a ride. The little I left for tracking is almost 600%

One thing I think I now believe will continue to work for Oando is corruption and current govt.
Oando to $1

How do you mean corruption is working for Oando? Any proof?
I am not asking for rumours, conspiracy theories, lies, fabrications or permutations, all without strict evidence. But facts, based on verifiable evidence!

megawealth01:
UNITY Bank is a SURE odd at your own risk

Will you be able to see to buy sef when the madness starts

I like that disclaimer! Lol

megawealth01:
Even dangote dey look for money na. E still dey collect loans

Lol! It is true. I remember he is your very close pal!
I just hope his refinery would blossom and give some good returns as well.

Are you sure of the Unity Bank vibes? At the current N1.51, it could easily do 200% when the coast clears.
Man shall not speculate/invest in Oando alone.

megawealth01:
Let this full bid do quick joor. My blood dey hot...

Make I collect lapo enter Oando? I need assurance 🥺

You, of all people?
Abeg, let us ''rest in peace'' in the ''bosom'' of Oando!
You are already well covered and assured in other stocks; it is just a matter of time.

Deadlytruth:
There is the need to exercise some restraint at this point, and then observe for sometime before making that dive. Remember very well that OANDO has just done over 500% capital appreciation in the past few weeks starting from about N14, but that it will take a much longer time for it to do 500% using its current price of N84+ as reference point.

Good advice/caution; taken with thanks

Redoil:
all these people you mentioned how many uints do think you they have

Let those people mentioned worry about how many units they have in Oando.
Yours is to either join or ignore the Oando ''praise and songs''!
Asking what others have in their portfolios is irrelevant!

ndept:
I want to specially appreciate all OandO faithfuls. I duff my hart for @Bagwa, @prophet Utuocha, @yMcy56, @Mikeapollo, @Megawealth, @Princkez, @Pesuzok et al. You are all appreciated and may the good Lord continually shine the light of his countenance on you and your entire household.

Special shout out to all others who didn't believe in the Oando's upward journey as well. You are all great. We are all good brothers and sisters. I know some of us are trying to watch each others back. Kudos to all. I exited Oando this morning with massive gain. I wish all others in the bus a smooth sailing. Good luck to you all.

God bless you for the wonderful spirit and maturity you have shown.
You entered Oando, exited with good gain, and still had the good spirit to wish others who are still on board good luck.
Some other people entered Oando, exited, made money, and then turned themselves to doomsday prophets, wishing that Oando would crash soon, so they could feel good and be happy with themselves as ''smart investors''! That is life!

megawealth01:
Till $1

Now, you are on full throttle making jest of us, the so called ''Oando faithfulls''!
God dey!

bovali:
You forget that anybody can now use phone and sign up to trade from the comfort of their home. So I expect a bigger bubble. You’re a TA guy, you monitor sentiment. Correct me if I’m wrong but what they paid 1.5bn for 20% is what they paid half price for now for another 20% 10 years later? Is Eni foolish? Read the financial statement, rather than dispute ENI just decided to waka pass. You’re a TA guy, you track sentiment. With more people in the market now, wouldn’t that inflate the bubble? My point is, if the ConocoPhillips deal was in 2024, you will see people converting the 1.5bn usd to naira and shouting the share price should be worth that amount. Again, not arguing o but even from a valuation perspective, I think luring anyone to enter now is a bit unfair

I commend you for always trying to give in-depth analysis on stocks, especially as it concerns Oando.
You may be 100% right in all your analysis and final conclusion.

However, as regards the valuation of ConocoPhillips 20% share of the JV (at $1.5b) in 2011 and ENI's 20% share in same JV at ($.783b) in 2024, you make consider the following:

i. As someone pointed, ENI had over $200m debt obligation due to Oando which was contained in the notes to the FS. Hence, the $.783b paid for ENI's asset is more likely a net-off sum, which then brings the total asset value to about $1billion.

ii. The country-risk rating/profile of Nigeria in 2010-2013 was different from what obtains today, in 2024. Nigeria was surely more attractive to foreign investments in 2011-2013 than in 2014, hence such investments would command higher price(s) then than now.

iii. The estimates of reserves in the various onshore and offshore assets are verified numbers known to both local and global players in the oil and gas industry, including NNPC and NUPRC (the regulators). If so, is it possible for one player (e.g. ENI) to sell wells with volumes lower than the proven reserves to another (e.g. Oando) without both parties and regulators conducting due diligence to verify the numbers?

iv. Come to think of it: why is it that virtually all the oil majors (Shell, Mobil, Chevron, Addax, ENI, Equinor etc.) are leaving the onshore sector of Nigeria? Could it be because all the onshore assets are of poor or low quality and unsustainable reserve estimates or because of other factors like insecurity, community challenges, corruption, the environment, green/renewable energy etc.?


I think a careful consideration of the above may provide further insights into some of the issues being discussed.

Note:
This is not to support or antagonize any opinion on the viability or otherwise of the ENI assets acquired by Oando.