₦airaland Forum

Agbalowomeri:
Please who knows dollar exchange rate today?

megainvest:
The bear has killed Oando! Waiting with my cutlass at the grave

Manonamission:
Oando faithfuls might need to be strong in this period. The massive sell-off witnessed today might (will) continue tomorrow. The company reported a very very rare accident today. Previously, Oando prides itself on its 100% incident (accident) free operations. The news below is culled from bloomberg news.

RIP to the dead and may the good Lord comfort the families of those involved.

"
Oando Energy Resources Reports Explosion at Tebidaba-Clough Creek Line in
Bayelsa State, Nigeria

PR Newswire

CALGARY, Alberta, July 14, 2015

CALGARY, Alberta, July 14, 2015 /PRNewswire/ --

Oando Energy Resources Inc. (" Oando Energy Resources ", " OER " or the "
Company " (TSX: OER) today reports that it has received from the Operator, a
report of an explosion which occurred on July 9 2015 during the inspection and
repair of a crude theft point on Tebidaba-Clough Creek Line, an oil pipeline
in Nigeria's onshore Niger Delta. The pipeline is owned and operated by the
Nigerian Agip Oil Company Limited Joint Venture ("NAOC JV". OER owns 20% of
the NAOC JV.

The incident resulted in the unfortunate death of 13 members of the inspection
and repair team.

The fire occurred away from the repair point and pipeline, igniting some of
the spilled hydrocarbon.

Investigations into the immediate and remote causes of the fire are on-going
by the Operator.

The company expresses its deepest condolences to the families involved in this
tragic accident.

About Oando Energy Resources Inc.

OER currently has a broad suite of producing, development and exploration
assets in the Gulf of Guinea (predominantly in Nigeria). OER's sales
production was 52,889 boe/d for the month ended May 31, 2015.

Pade Durotoye, CEO, pdurotoye@oandoenergyresources.com , +1-403-561-1713;
Tokunboh Akindele, Head Investor Relations, takindele@oandoenergyresources.com
, +1-403-560-7450 "

PETERiCHY:
Upon all the warning I've been issuing since May 1st. I pity those that are still buying at this point in time.

I said the economy is in shamble and even if Pa.MB name his cabinet it will be of no effect.

To set the record straight the only thing that will set the market on track is NAIRA devaluation which we expect to take place between September and November.

Then my fry OANDO will be readily available @ #9:00k.

*ThE OcToPuS*

ForcefullBULL:
But why are other bank so expensive. Thats 16Naira difference per dollar

pythondjango:
Great Forumites!
What are d banks that are positioned to hit huge jackpot from this currency round tripping?

myjoy08:
It is not that serious. Anyone with good intentions of transacting business in dollars should go through the CBN official rate. I can confirm to you that i bought dollars at the rate of 198.45(naira) each from a bank. Since the purpose is best for our business community, nothing will stop the bank from selling it at official rate. Let's stop deceiving ourselves by looking at this parallel market. If foreign investors are coming to do legitimate business in Nigeria, i believe CBN will welcome them with open hand with reference to our official exchange rate. It is high time we stop them from taken advantage of our situations...

hotcake:
This must be very bad news for oga PETERICHY

PETERiCHY:
One thing most investors fail to understand is that over 95% of fund that is meant to exit the market has been pulled by last week. This week we should expect a sideway trading then after the election come and see the great grand father of BULL which last the rest of 2nd quarter then market correction will set in between 3rd and 4th quarter that's when a lot of pigs will get slaughtered.

*ThE OcToPuS*

Agbalowomeri:
Bnsitl be careful how you swim, this market will touch below 29,000

stokfrick:
Question is when will the coast get clear? No one can time the mkt. By d time u consider the coast to be clear the MKT will HV gone up to a reasonable extent at which u ,ll consider to be a little bit expensive n u be like if I had known! Truth is if u compare d % u'll gain on MKT recovery with percentage u all gain on having d green back until naira gets right , u'll find out that MKT recovery will give u like 50-100% while u may not even HV up to 10% with d green back possession. It happened during pre election/ post election period which was even worse dan now. So its a question of which investment will pay u more.
#my 2kobo!

olajide8:
Would the CBN devalue the naira more? I doubt it- would the government inject money to create trade - any right thing government would tow that line* which area's would they put that money into? That's what we should look out for Where is the money going to come from? Sales of crude oil - I doubt it! Taxes yes! And processed sales of petrol in nigeria- from our refineries - would it happen in the shortest possible time NO! How long 2years - what would happen to major oil marketers, clauses would be used by government to look into their activities of sabotage, so what would happen, di-vestment - I was just painting a scenario, we can never run a floating currency- because these bureau dey change people that have dollars stored in their toilet and bedrooms would make sure it clocks N1000- for their greedy interest and that would affect all industries and spending- salaries wouldn't be enough to buy a bag of pure water* so I doubt they would relinquish the peg - rather they would tighten it and force those storing dollars at home to bring it out by force- just thinking aloud*

myjoy08:
Sir, no one can time the market. Buy in tranches if you are still interested in the market or wait till September as some specify

JAS10:
why is d house so quiet like dis?

Born2berich:
One person swallowed about 50M units of oando without making noise, meanwhile some people with tasere units here will not let us be. It is well.

samguru:
To the stock market community,
The market has been in bearish mood for couple of weeks back,but have you asked yourself the opportunity this portend for you and me in the short and long term?.

All I can say is some stocks are grossly barted and have a stong tendency of moving aggressively northward,when the bull takes over again.
Skye bank is one of those stocks ,because after full consolidation of Skye and mainstreet banks' accounts, you will see a very big bank that the valuation will definitely be greater than #3.

I have been buying Skye bank shares cos history is about to repeat itself,going by what happened to access bank after acquiring intercontinental bank.

We will meet at #3.5.

chillykelly86:
I know that already.

Does it get ploughed back into the business or its used to buy additional shares for the owner? My question is about the fate of the money after 12 years, not its redeemability.

angrybull:
I think your dividend can be claim until after 10 years. Then that is when you lose your right to claim the dividend

angrybull:
I have premonition that the lull and unpredictable nature of the market will continue till next six months maybe. The present government has an uphill task to battle endemic corruption, suffocate and stifle to political oblivion those who have been corrupting the system.
A Lot of state properties and resources are in the private enclave. This will take buhari at least six months to recover. Investors are very caution and never want to invest in the situation of uncertainty to avoid losing their money, hence the lull in the market. I personally expect more melt down in the stock market as some corrupt politicians will sell off their stock to pay off their loan to avoid their names being made public by banks in August as directed by CBN. Government might resort to selling off the properties ( including stocks) of political looters to recover the stolen funds from government. In the main time, we are still watching to see the unfolding of political fight for survival which must have devastating effect on stock exchange mkt.

Agbalowomeri:
Which of the shares did u inherit

Agbalowomeri:
Bros are u telling me the market will be in this mood from now till nov? Check ur charts very well, june is always bearish, july is bullish (Q2 things), slight bull in October, nov is bearish, last 2 weeks in December is bullish. Write these down

angelo82:
Buhari himself slow down the whole bullish momentum..............Imagine no tangible appointment or economic path.........Is like we don't have a leader yet and you expect market player with huge fund to trade blindly..........I believe in a week or two,things will start to fall into places...........