₦airaland Forum

thebargainhunte:
Where are we heading to, south or north

Xidget:
Drop hint on stock that can do at least 50%

Agbalowomeri:
I don drop since

Agbalowomeri:
I don drop since

Xidget:
I no see am o

designking:
https://cdn.punchng.com/wp-content/uploads/2019/06/03122042/Oando-office.jpg

Oando raises oil production output by 50%

Oando Plc says it has increased its crude oil production output by almost 50 per cent in three months.

It said the achievement followed the acquisition of Nigerian Agip Oil Company from Eni, earlier this year.

The Managing Director of Oando Energy Resources Nigeria Limited, Dr. Ainojie Irune, disclosed this during a recent meeting with its Joint Venture partners, Nigerian National Petroleum Corporation Limited in Abuja, according to a statement issued by the company on Sunday.

Source:
https://punchng.com/oando-raises-oil-production-output-by-50

mikeapollo:
I am not impressed with the 50% increase in output as announced by Oando.
Before the acquisition, Oando, ENI and NNPC were in a JV with ratio 20: 20: 60 respectively
After Oando acquired ENI, their share in the new JV is now 40%, which should automatically translate to an increase in output of 100% or thereabout.
So why are they only achieving a 50% increase 3 months after the acquisition? Are they unable to fully exploit and produce from the fields?
Oando should be reporting at least 80% increase in output by now, otherwise something more fundamental may be wrong e.g. inability to acquire rigs and other equipment to produce crude oil as much as possible.

Experts in the oil and gas sector can educate me on this if I am mistaken.

toyeoye:
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BabsO2:
I read also as a possible reduction in production of the total assets post take over being spun as a rise in Oando production
Looks like the trick didn't work for the market if so as no price rally right now.
They need another catch Like say explicitly Oando ramped up total asset JV production from x to y for Naija

BabsO2:
I read also as a possible reduction in production of the total assets post take over being spun as a rise in Oando production
Looks like the trick didn't work for the market if so as no price rally right now.
They need another catch Like say explicitly Oando ramped up total asset JV production from x to y for Naija

Locotrader:
Chams

Vendor making his last supply.
We expected this deep.
We are fully participating now

faoogoke:
I want to suggest again. List the stocks alphabetically. It makes searching for a stock easy.

yMcy56:
@Mikeapollo
So 50% increase is too small in 3mths?
If you're not impressed, go and help them achieve the 100% in one month nah.
You guys will just never be satisfied with anything.....
Everything to you should be about the immediate rally in the market....

Anyone interested in OANDO and can be patient should just take a sit in the bus.....
If you like, let all those negative comments and energy discourage you...

Xidget:
@Bullbearmkt, Abeg any double bottom stock for the week

Princkez:
TANTALIZER has been on full bid since market open...any news

mikeapollo:
C'mon, this does not call for personal attacks. My comment did not attack any one.
You could have said that you are impressed and okay with an increase of 50% or 30% or whatever. But asking me to go and help them achieve the 100% is totally uncalled for.
The concern I raised is typical of what shareholders would talk about at AGM and even the directors and management would not say what you just typed.
Let us limit ourselves to issues, principles and facts, and avoid personal attacks.
Oando (and any other listed stocks) belongs to the investing public.
Your response to issues (especially about Oando) is becoming too personal and too emotional in recent times and that is not the best. I think you can do better than that.
The help I can offer them is to provide the funds, which I have done as a shareholder

pluto09:
I think it would had been better if they give information on the number of barrel they are producing now

pluto09:
I think it would had been better if they give information on the number of barrel they are producing now

yMcy56:
WAPCO
What's happening here?
Accumulation, Cross Dealings or Mop Up?
Closed to 12million units in dealings....

sterlingD:
Is there any update on the FMN delisting ? l have not seen any further update on the schedule on scheme of arrangement and going by the date tomorrow 10th December 2024 FMN will delist, and Scheme Consideration Remitted to Mandated Accounts of Scheme Shareholders