₦airaland Forum

Streetinvestor2:
I thought they said this IB owners get money. They could not take up 100% of the ri.Na only 87.75% was achieved. The OS of IB now stands at 168.29 billion units. Na which kind profit go pay dividend for this kind Os.

MARKETJJC:
Exactly! Read , read and research. Financial education first and then play the market we with what you can afford to lose and he will learn in the market practically.

Streetinvestor2:
IB just break record though they say the nominal value is 20kobo and not 50kobo

I expect them to return it to 50kobo soon thereby destroying value for formal share holders

KarlTom:
News after trading hours...

BabsO2:
Happening right now as you told us yesterday.
Have dumpers at Km40 exhausted their holdings or on their way to clear the outstanding bid or raised their exit point ?

Higher Highs and Higher lows !

Sunrisepebble:
https://doclib.ngxgroup.com/Financial_NewsDocs/42055_OANDO_PLC-OANDO_PRESS_RELEASE_CORPORATE_ACTIONS_AUGUST_2024.pdf

Sunrisepebble:
https://doclib.ngxgroup.com/Financial_NewsDocs/42055_OANDO_PLC-OANDO_PRESS_RELEASE_CORPORATE_ACTIONS_AUGUST_2024.pdf

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

Ese pupo!

Bagwa:
Done Deal

Sunrisepebble:
Another Jijo in Oando Loading https://gazettengr.com/nnpcl-transfers-ownership-of-all-petrol-stations-to-tinubus-nephew/

GracefulLau:
This OANDO publication is not encouraging
OANDO rather trying not to commit to anything

Hmm... Wale...

brotherly:
this stock no go hit $1 in a few years time so?

megawealth01:
Dangote Refinery To Commence Petrol Supply In September


https://www.thecable.ng/report-dangote-refinery-to-commence-petrol-supply-in-september/amp/

Sunrisepebble:
https://doclib.ngxgroup.com/Financial_NewsDocs/42055_OANDO_PLC-OANDO_PRESS_RELEASE_CORPORATE_ACTIONS_AUGUST_2024.pdf

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.

Agbalowomeri:
Is this a joke?

Agbalowomeri:
Is this a joke?

Bagwa:
Today marks a historic milestone for Oando PLC as we proudly announce the completion of our agreement with Eni for the acquisition of 100% shares of Nigerian Agip Oil Company Limited (NAOC Ltd).

The signing ceremony, held at The Peninsula Hotel in London, cements our position as Nigeria's leading indigenous energy solutions provider. This strategic acquisition aligns with our commitment to driving Nigeria's energy transition and bolstering our portfolio.

We are excited about the growth opportunities this presents for Oando PLC, our shareholders, and the Nigerian energy sector.

We look forward to leveraging the acquired assets to further our goal of providing efficient and sustainable energy solutions for all.

Stay tuned for more updates on this game-changing development!

GracefulLau:
This OANDO publication is not encouraging
OANDO rather trying not to commit to anything

Hmm... Wale...

Streetinvestor2:
I thought they said this IB owners get money. They could not take up 100% of the ri.Na only 87.75% was achieved. The OS of IB now stands at 168.29 billion units. Na which kind profit go pay dividend for this kind Os.

Testimonies777:
We are excited about the growth opportunities this presents for Oando PLC, our shareholders, and the Nigerian energy sector

I want to believe the bolded is an amazing news to all of us . I expect a jolly ride o.

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.

emmanuelewumi:
What was the initial outstanding shares before now

megawealth01:
Make una push am to #1612 that's $1 per share

WALE na real nigga. I no go talk pass this

MARKETJJC:
una don move the thing to $1?

Streetinvestor2:
Why didn't you post it as it was on the link? Why remove the part before the forward-looking part? I guess you don't like the disclaimer part lol