₦airaland Forum

ositadima1:
All of you, more than 25 people I counted here including @undead, are posting positively about Oando. Why won't you allow the other camp to post their own opinions?

Must everybody sing praises for the same stock? Abeg, free the people who say eh go cast, why you dey try force ur own matter for other people throat, na so u dey do?

megawealth01:
Today's Top Volume Trades

Laso09:
You will do well to stop talking about this oando. Since you sold your holdings,the negative energy being shown on this particular stock is nauseating.
Allow those in oando to enjoy their success.

And note, I don't have a single unit of oando as it is not my type of stock.

emmanuelewumi:
The business was sort of recapitalized. The former holders now have about 20% of the recapitalized business

Raider76:
These are legal statements that normally accompany these kinds of company announcements. It is almost a cut paste. The statements are design to cover as much as possible all loopholes for future litigation against the company.

ositadima1:
All of you, more than 25 people I counted here including @undead, are posting positively about Oando. Why won't you allow the other camp to post their own opinions?

Must everybody sing praises for the same stock? Abeg, free the people who say eh go cast, why you dey try force ur own matter for other people throat, na so u dey do?

Streetinvestor2:
You are right. I think I will cut my loss on this one.It is something I don't do

emmanuelewumi:
Contrary opinions are not entertained when we are gambling, we can only entertain it for robust discussions when we are investing

emmanuelewumi:
He used it last time never achieved any of his forecast even though we invested based on them.

chunkuli:
On drugs bawo? Shepherd, please calm down.quote author=Streetinvestor2 post=131643095]what gives you the right to decide what I post on this thread.Are you high on any drugs.If you wish to stop getting such feelings. Why not deactivate your account

chunkuli:
E go hard pa emma quote author=megawealth01 post=131643445]

I thought they said he has repented

Abeg forgive and forget joor

emmanuelewumi:
What is the current price. I think it will still crash when the new shares are listed

Nataba:
Good evening everyone. Thank you so much for the insightful inputs hitherto.

Please, I've been trying to sell some of my Geregu stocks for the past 3 days, unfortunately I've not received any offer since. There is no demand for it at the moment.

Is there any other way I can offload the stocks?

ositadima1:
All of you, more than 25 people I counted here including @undead, are posting positively about Oando. Why won't you allow the other camp to post their own opinions?

Must everybody sing praises for the same stock? Abeg, free the people who say eh go cast, why you dey try force ur own matter for other people throat, na so u dey do?

Raider76:
I am sorry but I can't find your bolded statement anywhere in the text. No mention of SHAREHOLDERS but only STAKEHOLDERS seen.

Omooloriredade:
Please look up the meaning of "stakeholders" first, then read the entire paragraph and you will understand why "stakeholders" was used. Not having a dig at you at all.

Looking to the future, we will continue to pursue strategic diversification opportunities within the broader energy sector that provide enhanced growth and value creation for our stakeholders, particularly in clean energy, agri-feedstock sector, as well as energy infrastructure and mining.

Oando is diversifying into certain sectors as part of their "clean energy" strategy in partnership with other organisations or governments. For example the CNG (compressed natural gas) buses being rolled out in Lagos. I encourage you to google CNG buses. You will find that the FGN also met with Innoson for the manufacture of CNG buses and they may also be looking to import some.

Agri-feedstock - Oando's role here is the provision of the gas required to produce fertiliser for use in the agric business. Look this one up as well. They claim to have substantially reduced their gas flaring as part of their Clean energy strategy instead harnessing that energy for power production.

Considering these projects are not being done in isolation but in partnership with other organisations, governments and agencies, STAKEHOLDERS was the most appropriate term to use.

Also, note that Oando's upstream assets are in JVs with different entities including the NNPC and IOCs. Being an operator in the upstream sector for such high-level entities is a big deal. The use of the word "stakeholders" was apt.

The Clean energy mantra is what all IOCs use now to attract capital. Some funds, banks, portfolios will not invest in projects that are not environment friendly.

Disclaimer - Please do your own research and don't take my posts as gospel.

Bagwa:
PRESS RELEASE

OVH Acquisition: The Facts, by NNPC Ltd

The attention of NNPC Ltd. has been drawn to a press release signed by Mr. Paul Ibe, a Media Adviser to the former Vice President, Alhaji Atiku Abubakar.

In the statement, the former Vice President was quoted to have lamented “the criminal hijack of the NNPC by corporate cabals around the current President".

He was also quoted to have listed the retention of Mr. Mele Kyari as the Group Chief Executive Officer of NNPC Ltd as a compensation for the alleged acquisition of NNPC Retail Ltd. by OVH in which he claimed Mr. Wale Tinubu held 49% stake.

He further alleged that the NNPC Retail Ltd—OVH acquisition deal was part of a grand scheme by President Bola Ahmed Tinubu to integrate his personal business interests into Nigeria’s public enterprises at the federal level.

NNPC Ltd. wishes to set the records straight with the following facts:

1. We are a commercially-focused and profit-driven company managed by professionals who are committed to adding value to the nation.

2. Investment decisions by NNPC Ltd. Management are strictly determined on the basis of commercial viability and national interest.

3. At the time NNPC Ltd. acquired OVH in 2022, Oando (in which Mr. Wale Tinubu has equity interest), had fully divested its equity in OVH to the other partners – Vitol and Helios. Oando actually began its divestment in 2016, with Vitol and Helios coming in as equity partners, leading to the change of name from Oando to OVH. In 2019, Oando fully divested its equity interest in OVH resulting in Vitol and Helios holding 50% equity interests, respectively.

4.Upon acquisition of OVH by NNPC Ltd, both NNPC Retail Ltd. and OVH effectively became subsidiaries of NNPC Ltd. However, based on professional advice and sound commercial considerations, NNPC Ltd. opted to merge NNPC Retail Limited into OVH, and thereafter retain NNPC Retail Limited as the company name post-merger.

5. The first step of merging NNPC Retail Ltd. into OVH has been completed and the post-merger renaming as NNPC Retail Ltd. is ongoing.

6. Contrary to the false alarm raised, neither Wale Tinubu nor the President has any interest in the OVH acquisition.

7. As a businessman, the former Vice President should know that effectiveness in business leadership is best measured by balance sheets and bottom lines rather than pedestrian considerations.

8. The management of NNPC Ltd., under the leadership of Mr. Mele Kyari, has done very well in growing the company’s fortunes as shown in the 2023 Audited Financial Statement (AFS), where it reported N3.3 trillion as profit after tax.

9. NNPC Ltd. as a commercial entity is devoid of political interest and shall continue to conduct its business full of commitment to national interest and value creation for the benefit of all stakeholders. NNPC Ltd. shall resist any attempt to draw its Board and Management into partisan politics.

Olufemi Soneye
Chief Corporate Communications Officer
NNPC Ltd.
Abuja

22 August, 2024

SetrakusRa:
the thing tire me

any small negative opinion about O & O, everybody go bring out their cutlasses

Please, let's welcome all opinions about any stock. You're the CEO of your portfolio.

PS: I have a large holding in Oando. Fundamentally sound or not, cast or not, I'm holding until I get another 80% gain.

sterlingD:
I would advise you to be patient as you have placed your offer and is your offer price the least offer price

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!

Nataba:
Thank you so much.

I tried selling for a lower price, but it wasn't executed. So, I had to fix the same price as the 90% other sellers.

Nataba:
Good evening everyone. Thank you so much for the insightful inputs hitherto.

Please, I've been trying to sell some of my Geregu stocks for the past 3 days, unfortunately I've not received any offer since. There is no demand for it at the moment.

Is there any other way I can offload the stocks?

megawealth01:
Explaining things

Omooloriredade:
As expected, Oando will come out firing on all cylinders to sell what this means and the outlook for the company. This is the way it is done. WT intends to mint this opportunity. Hopefully the long-suffering shareholders are the major beneficiaries.

One other thing that caught my attention was the fact that the signing ceremony was done in London. Pourqoi? My eyes lit up when I read that. Eni is Italian, Oando is Nigerian and there's Transcorp Hilton in Nigeria's capital Abuja. Are they eyeing a LSE listing? A path to carbon neutral upstream production will be essential to getting the Londoners on board. I find they are pretty switched on in the O&G space. I may well be getting ahead of myself here. Pure mindless speculation maybe.

Disclaimer - I'm not suggesting there will be a SP rerate so if you're looking to grow your portfolio, please don't make investment decisions based on my post.

zendi:
Wale bad, Wale bad.
Wale dey send bnsitl to bond market with heavy loot. Here is a sudden tribute to Wale Tinubu :

He brought the first crude oil stock, with the super strong sentiments around it, to the NGX. Thereby, albeit indirectly, he brought the elite crude oil biz into the grasp of the common man.

Though yet to pay dividend, let me tell you, from the days of ConocoPhilips negotiations to date, I have made more money from Oando JIJO than, I believe, if Oando were paying me dividends.