₦airaland Forum

dipoolowoo:
Reps Order SEC to Complete Oando Probe in 2 Weeks
https://www.businesspost.ng/2017/09/27/reps-order-sec-complete-oando-probe-2-weeks/

Bukar Now Chairs Senate Committee on Capital Market
https://www.businesspost.ng/2017/09/27/bukar-now-chairs-senate-committee-capital-market/

laugh in swahili

wale wld b shiting in his pants now

the war continues via several fronts and proxies

National Assembly to assume jurisdiction on private business affairs hmmmmm (how more dirty can this go)

wale is sure to lose this round

the WAR PRIZE == Oando oil wells (more juicy with oil price at recent all time highs and looking set to break new highs in months ahead)

Senate capital market chair -- katsina ; mangal katsina hmmmmmm

wale ass is on fire

lol

mendes911:
Can he

.

in fact this had been my daily prayer point since he came back.

He and oil price is the major downside risk we have for the near time

fxuser:
let it go. . seems its on a reversal path

u call it reversal path

i call it second round of d ongoing war.

mangal and volpi had lost the first round

The war had definitely moved to the market and as i said earlier i expect dumping to be d first leg of the market war

so fasten ur seat belt as oando is bound to experience some out of d world volatility

fortunately / unfortunately this wld only be a game for the adept at technicals and others with inside info (none of which i am)

Tritri:
was even praying for oando at 5 ..maybe this is an opportunity ..am waiting till then...if not ..then might sale and move on.

mayb ur prayers is abt to be answered

oando lost 5% today on full offer

the good thing in all dis oando recent imbroglio is that it is happening in a period of oil price doing highs

N.B nobody shld take the above as a recommendation cos the high oil price can only surely affect topline, the coyboys in charge of d coy might not allow the topline trickle down to bottomline which is the ultimate thing that impact retail investors

BullBearMkt:
UBA
-Selling mood, but looking for buyers
-Now within trading zone for possible reversal
-Long term support is at around 8.10

Zenith
-Check my post on Zenith yesterday morning, I think it is still valid, a nice pullback will be a good entry

thank you i appr8

robobo:
Oga Fxuser and BullbearMkt

Wld appr8 if u favour me with the technicals on UBA and Zenith

thank you

@oga fxuser and oga bulbearmkt

wld appr8 a response to above

fxuser:
Issues
- tough finding support, SP down over 40% from 10.50 high
- very strong retracement (its reversal wen its down 68% cc: robobo)
- lower weekly closures, with falling RSI levels
- plenty flags ..
- wud be interesting to see if dat support area holds

#justObserving

Thank you

from d news analysis side. i dont see any support in sight yet.

it wld get worse before it get better

except there is sudden settlement by warring parties

Intendy:
stocks with new 52 week lows

mobil oil #165.01k

NCR #6.97k

no new 52 week highs

hmmmmmm

Oga Fxuser and BullbearMkt

Wld appr8 if u favour me with the technicals on UBA and Zenith

thank you

EchoLima262:
Full bid?

sorry meant offer

amended

fxuser:
- I only ff banking index ohh ..
- 6 weeks PB thus far but RSI still encouraging. break below 420 is a major FLAG

ok sir

thank you appr8

Chibuking81:
Own by different people, but same in behavior.
Ordinary share holders are not benefiting from the company.
Transcorp owns Transcorp hotel, but the latter was caved out and listed differently without giving the share holders in the former a part, and still own by the same group of people in the management,
Transcorp rises from 50 kobo to #6 due to the earning of their hotel.
But when their hotel was listed differently, this action forces the price of Transcorp to fall from #6 back to 60 kobo, and the hotel still remains above #5.
Is this not cheating, Oando has similar attitude.

Oando even worse, both their ordinary share holders and the real owners were both kept in dark.
No benefit in terms of dividend comes to them for some years now, while some of their MD were busy allocating themselves with high remunerations, living large and owning other investment.
If you doubt, ask UCHESON, if you can reaching him.
I hope, the young man didn't suffer HBP.

robobo:
Regulator War: Wale win round one, more rounds to come

Media War: Stlill Stalemate: Wale fights back via family owned channel (Nation)-- Ongoing -- No Victor No Vanquished

Market War -- Loadinggggggggggggggg

Oando on full offer

abi d Market version of the war don start?

fxuser:
Still a retracement , a break below support or prev lower low or swing low becomes a reversal

Biggest pull backs in Aug

- NSE Oil & Gas -11.37%
- NSE Industrial -4.69%
- NSE Banking -2.36%

#bleeding

ok sir
but what point on the index are these


below support or prev lower low or swing low?

fxuser:
- umm desperately looking for support . .
- d further the trend gets extended , d lower d probability of continuation. next bump shud likely form a lower rsi level leading to -ve div on d weekly ! we wait and see !
- but a break below support , we out for good ! #CantShout

retracement vs reversal my fears being confirmed?

boldwet:
http://thenationonlineng.net/sec-clears-oando-agm-holds-scheduled/

Regulator War: Wale win round one, more rounds to come

Media War: Stlill Stalemate: Wale fights back via family owned channel (Nation)-- Ongoing -- No Victor No Vanquished

Market War -- Loadinggggggggggggggg

OBAGADAFFI:
For lawyers to insert such clause in the agreement, it means Wale owned less that 10% of the funds used in running Oando.

but that is how most of d Nigerian coy is it is only if u look well that u wld truly see beneficial owners

OBAGADAFFI:
Ansbury claimed ownership of 61.9 per cent of the British Virgin Island-based company, Ocean and Oil Development Partners Ltd (OODP BVI) while the remaining 38.10 per cent is owned by Withmore. The two companies control 99.99 per cent of Ocean and Oil Development Partners Nigeria Ltd (OODP Nigeria). OODP Nigeria controls 55.96 per cent of Oando Plc. So, indirectly Ansbury Investment Incorporated owns 55.96 per cent of Oando jointly with Withmore Nigeria

This is what happens when Ponzi child jam Ponzi father.

What was Wale thinking when he signed this agreements?

i thought so too (i.e. Wale thinking) however it might be his thinking is what he implemented within last two- three years (i.e. Company / Asset striping) or mayb there is a poisoned chalice (lawyer them knows how to insert this in agreements) in the OODP structure or combination of both. (remember the non voting right / voting right structure in the divesture of Oando Marketing)

But i am sure he is not that daft for the arrangement to be as plain and as portrayed by this write up.

That is why i said more drama ahead.. and dont expect this to go soon, might drag on for some couple of months cos it is going to be protracted except Wale believe he has had his fill as per the company / asset striping (which i doubt) and just walk away from it all

Chibuking81:
http://www.tribuneonlineng.com/major-shareholders-move-sack-oandos-board-management/

Major shareholders of Oando Plc, a major oil and gas company in Nigeria, are making moves to oust the company’s board as well as the management led by Mr Wale Tinubu.



The major shareholders, Ansbury Investment Incorporated and Alhaji Dairu Manga, made their intention known in separate petitions to the Securities and Exchange Commission (SEC).

Oando, in a statement issued last week, confirmed the petitions and said the SEC was already investigating the matter.

Both Ansbury and Manga allege gross abuse of corporate governance and financial mismanagement, their reasons for calling for the removal of the management team and sack of all board members.

Mangu, who is said to own about 17.9 per cent share of the company, expressed his displeasure about the management of the company, especially the handling of the ConocoPhillips transaction.

Ansbury, on the other hand, had raised serious concerns about the capacity of the management team to effectively run the company.

Ansbury claimed ownership of 61.9 per cent of the British Virgin Island-based company, Ocean and Oil Development Partners Ltd (OODP BVI) while the remaining 38.10 per cent is owned by Withmore. The two companies control 99.99 per cent of Ocean and Oil Development Partners Nigeria Ltd (OODP Nigeria). OODP Nigeria controls 55.96 per cent of Oando Plc. So, indirectly Ansbury Investment Incorporated owns 55.96 per cent of Oando jointly with Withmore Nigeria

if truly ansbury holds 62% in OODP then Wale is done for (cos as stated in quote it is true as per last audited statement that OODP owns 56% of Oando).. recall that ansbury is one of the petitioner as stated by Oando itself, so it is like d majority shareholder of a company petitioning its own company.

if u add to the mix the recent company (asset) striping by current mgt of Oando (wale and co) within the last two-three year, all in the name of using proceed for these striping to pay down debt. Then everything is beginning to become clearer.

seems what ansbury & co is saying is that since wale had moved all other asset / company away from Oando to supposedly buyers (fronts) he shld leave the upstream asset for them.


more drama ahead

PharmAlfred:
Officially out of recession. Let's see how that impacts the market and other businesses. We are equally moving closer to the earning season and speculations will really be strong.

All eyes wide open.

kindly correct if i am wrong

i think two consecutive quarters of positive growth needed to be out of recession? (just as two consecutive negative growth also for slipping into recession)

kolaish:
Market has gone on early sallah holiday in annoyance to the bleeding witnessed yesterday

my oga u took it out of my mouth

mayb the NSE mgt use that to let the market take a breather so that the bear does not knock it out

u know how some referee in boxing match sometime help a thoroughly beaten boxer to prolong or avoid hitting the canvas

Manonamission:
Other than beer??

Intendy:
stock with new 52 week lows

Mobil #165.11k

no new 52 week highs

hmmmmm signal

Tread carefully

nio68:
I hope you too would not be going on vacation to South Africa soon

wicked man

pluto09:
I need to see improvement in Guinness balance sheet before I can consider putting my money into it. I am not swayed by the sentiment of white superiority in management.
Profit is the koko

God Bless you sir as per bolded

in fact bar any other thing u ve made my day with this statement

robobo:
Hello Chief

if the index breaks below 36k what other indicator / sign can one rely on to finally confirm that it is reversal and not retracement.

wld appr8 ur response.

in addition kindly note that there is 3 black crow already if u take monday into consideration, so this is looking like a more like a reversal than a retracement

Thank you Oga fxuser.

i wld appr8 if u respond to this enquiries i raised some days back

cos u still feel this is a retracement while it is looking like a reversal

fxuser:
Entries

- 2 types : buying pull backs or breakouts
- if u like pull backs , this is your season
- if u like breakouts , come back when prices break recent highs

For d pull backs team
- we are about 11 weeks into this pull back from recent highs , generally speaking
- stocks with a 50% retracement from their recent high shud be on your radar (use Fibs)
- u have to be patient with d pull back to gain good a good avg support entry
- be very patient , avoid itchy fingers loll

my oga bolded refer 11 weeks? i can only count 3 /4 from the high of 38198 in first week august

kindly shed more light here, u knw im a baby on this technical thing

wld appr8

kolaish:
Thanks @robobo. I want to let you know that I am not the one that is posting bad news about Oando. My position is that any stock that is full of problems is a sign for any discerning investors to simply be cautious about such stocks. Some may still buy and make gain but the "caveat" must be taken seriously. No stock go down outrightly without showing signs of trouble for those that cares, remember Oceanic, Finbank and co.

I am not annoyed at all with Oando because It is not possible for me to keep gaining and not loose. if Warren Buffet and other notable investors have one time or the other lost, why wouldnt I. But I will fail in my responsibility as a member of this forum not to say my mind about the stock.

My opinion please.

My Oga i feel u. and appreciate a good citizen u have been on this forum.

in this game/ market we win some we lose some. the important thing is for the win to outweigh the loss.

Shalom

Zhirinovsky:
best of luck sir!

Oga check my epistle on this issue since abt 3 days ago and you would understand where most (not all cos Wale is truely a bad guy) of the bad news is coming from.

you cant blame Oga Kolaish he is only reporting what was in the press and not the author of the news. couple with the fact that he lost a sizable sum of money to Wales shananigan you would understand where he is coming from and why he decide not to touch Oando with a long pole

i lost considerable fortune to Wale shananigan and megalomaniac also, i am only able to look at oando dispassionately now because i had moved on (was very bitter before now also) and see if i can profit from his shananigan (a la jijo) instead of holding the bitterness against someone who doesn't know i exist.

so dont blame oga kolaish (you cant know how the shoe pinches until u wear it no matter the level of description given to you)

Manonamission:
We don't have the facts yet but I suspect the source is referring to direct holdings. His indirect holdings via Ocean and Oil (I think), will still be very much intact. Ocean and Oil holds nothing less than 30% most likely.
That would be the vehicle used for all the alleged fleecing going on.

Disclaimer: My comment is based on unverified information already in the public domain. Hence you might need to do your own independent verification.

based on 2016 audited result

OOIL Ocean and Oil Investment own 1.33% of Oando (this coy is owned by Wale and Boyo)



OODP Ocean and Oil Development Partners Limited owns 55.96% of Oando ( Wale own 22.38 of OODP while Boyo own 11.19, it wasnt stated who own the rest of OODP but it was stated that Francescco Cuzzocrea was a former director of OODP who resigned from the board of OODP in February 2016).

no mention was made of Gabriel Volpi (the italian guy who eventually salvaged the conocophillips deal) at all on Oando but i guess his front is Francescco Cuzzocrea an italian investment banker who use to be also on the board of Heritage bank.

of interest is also that the Gabriel Volpi tie in with Atiku as per intel ownership

so as siad earlier the person who would decide the winner between Mangal and Wale is the italians.

i guess the War has moved to media while the regulator angle continue to burn.

i pray they shld move to the market next

boldwet:
http://independent.ng/oando-shareholders-set-sack-wale-tinubu-board/

.

This is surely getting messier and sweet

this story tie in the recent Intels Court Judgment of N4b against Oando (Atiku own substantial / controling interest in intels and that is his cash cow / war money machine).

its also potrays the italian guy i mentioned earlier (Volpi) as not on the side of Wale (which cld be disastrous for Wale) though i doubt this story as he (the italian) has a kind of Cross shares in O and O which is Wales major vehicle in Oando and the fact that this story from independent story hinted of a court case in UK (possibly instituted by Ansbury i.e. Mangal baby) forbiding the italian from voting in upcoming AGM

as said earlier Mangal is brutal and has ethnic alignment in his favour

what i sense is that Oando is about to turn profitable as partly evidenced by recent reports and signs oil prices has finally bottomed (between lower 40s and lower 50s) hence it is about to become a cash cow hence d dirty fight for control.

The decider wld be whose side the italian guy eventually takes.

Wale is about to have the fight of his life (this fight would eventually welcome him into the comity of men if he survives it,unfortunately this set of pple are not ojora's / unipetrol board that he rode roughshod over way back)

As said earlier my prayer is that they fight dirty on the stock exchange, so that we commoners / retailers can reap some benefit from the War.

N.B whenever the war spill over to market it might first be in form of dumping (a la Dangote Vs Otedola AP/ Forte oil war of recent memory) before it would eventually turn to bidding war (a la same AP/Forte oil rise back to abt 300 or as experienced in Caphotel i.e. the Ibru.

N.B im very heavy here and ready for any eventuality (up or down) cos most of the cost had been provisioned for on my balance sheet so whoever reads this might want to exercise caution

DeRuggedProf:
I have been severally tempted in my dreams to set up something, but my experience has shown me to restrict myself to financial markets, till I haven't genuine need for money again. Alike on my mind.
My work experience in multinationals has given me an omni-directional view into the limitless destructive capacity of MOST megalomania possessed and cancerous mismanagement talents.
I will never be deceived to disguise charity, as 'my company' or 'start-up'. NEVER!!!
It is sad. Very sad when I reflect on some experiences.

.

same reason i have restricted mysef to financial market (and some tit bits of real estate)

in Nigeria if you cant run it ursef (a coy / biz) then dont dabble into it

most workers (particularly SME type of workers) mentality is that a coy promoter is there ticket to eldorado