₦airaland Forum

yMcy56:
OANDO

https://doclib.ngxgroup.com/Financial_NewsDocs/42260_OANDO_PLC-OANDO_PRESS_RELEASE__CORPORATE_ACTIONS_OCTOBER_2024.pdf

Tpharell:
To help you, NNPC did not take Seplat to court as they had no issue with them whatsoever, instead they took their JV partner Mobil to court and got the extra 10% stake in the JV as out of court settlement compromise, a reduction in the stake of incoming Seplat which had not originally been factored in the transaction and market pricing.

Its not even up for argument that the deal started and was approved back in 2022 by Buhari, and Seplat did experience relative bull around the time. My point is many investors have already priced the Mobil acquisition in the current pricing so don’t expect the sort of Oando raging bull. Nobody said anything about “Never”, but it definitely and certainly cannot be like Oando, i can guarantee that.

Finally, everyone that is a keen follower of Seplat as I am knows the deal is inching close to finalizing, the president himself confirmed it in his speech yesterday.

mikeapollo:
Never say never.
Seplat can still experience a bull when the Mobil deal is officially sealed and announced as completed.
Some people said similar things about the Oando-ENI deal, but we saw what happened to Oando share price when the deal was signed/announced in London.

About the approval, it was NNPC that took Seplat to court over the Mobil deal, and obtained court injunction which halted the process and caused the delay.
The parties just had an out-of-court settlement recently on 30 May 2024 and the NNPC withdrew the case from court. A compromise was reached with NNPC having 70% in the JV (instead of the usual 60%). Seplat therefore has 30%.

So the application for Seplat-Mobil transaction began officially in June 2024 ; the PIA provides that ministerial approval should be given within 120 days if all requirements are satisfied

BullBearMkt:
What is the mistake made bro?

Willie2015:
My CP for Seplat is below N1300...
I still have d capacity to increase my units...
I assure u it will clear N5k comfortably before fin yr end

Willie2015:
UCAP Research raised TP to N5000 plus

ogoo4real:
@yMcy56 welldone to the big guys. Seplat officially moved @4103.10

chimex38:
Exactly my submission.
Na For countries wey get 24hrs/day, Average of 300/360 days of electricity per year. Not Africa yet. even at that, I think to power Manufacturing Equipments to meet their high capacity and efficiency, you just need fossil fuel--Coal, diesel, petrol, Gas, kero, etc.

Rnewables of Solar, Wind, biowaste are niche specific and tailored to particular equipments..not flexible for dynamic situations.

Willie2015:
Bonus from where now...
After 4 times dividend in a year...
U too like money

Willie2015:
U dey worri urself too much..
D owners will move it when they are ready...
Ur own is to sit down dey look...
When it reach ur junction ..u sell..

vacanci:
No one to sell rather

emmanuelewumi:
I give up. I have always used Kunle, Tunde, Aminuband Musa in the past.


All the same, I no dey look Uche face

Seunn11:
O&O has achieved what no other indigenous oil and gas company has achieved.

Let's call it Uche, Segun, David, Babangida, Abidoshaker, Emmanuel, Mercy, Seun, etc.

More grace.

emmanuelewumi:
No record of free cash flow for Uche, infact he had to sell his Jeep, land and house in order to enhance liquidity yet his liabilities are more than his assets

He found out he could get cheaper loans from First Bank, so he got another loan from First Bank in order to settle Access Bank because those guys at Access are Badass

unite4real:
GEREGU has moved

N1,050 ********

Tpharell:
While I have not seen anything empirical that shows Oando was favored against Seplat and Renaissance in the ongoing divestment, and nothing shows president Tinubu has any direct interest in Oando which was founded even before he became governor in 1999, you cannot pretend or discount the reality of how Nigeria works. People own companies by proxy in a manner that the ‘veil cannot be lifted’. It will be downright and gravely delusional to not consider that Wale Tinubu who has direct access to the president (a blood relative) can very easily call in a favor for Oando and the weak regulatory bodies will read the body language coming out of the villa and do the needful.

mikeapollo:
The provisions are meant to provide required funds for the eventual decommissioning of the assets in future, even if in 20 years time from now.
It is an industry requirement or standard that players in the upstream sector must comply with, because the decommissioning costs can be very huge and it is better they make adequate provisions long before the actual time/year the costs are incurred or expended

KarlTom:
I don't think they are going to decommission any of NAOC assets.

megawealth01:
I wouldn't want anyone to insult you because of the government. They probably have their agents here

BabsO2:
Oando booked a higher provision for decommissioning activities of N176b compared to SEPLAT's N117b in 2023. Even though they both reported having N3T worth of assets in 2023

megawealth01:
At least it a step in the right direction if wholeheartedly supported by government institutions

mikeapollo:
Thank you for the education.
Please, kindly help us educate those people who are saying that the Mobil-Seplat deal was deliberately frustrated by the govt in order to favour another company. Unfortunately, that line of thought was also shared by an opposition politician (reason why I say that every politician, from both govt and opposition, must be scrutinized properly when they make comments)

mikeapollo:
Dangote Refinery is truly a ''game changer'' for good reason. It creates jobs, saves/reduces dollar demand etc.

However, Dangote is being blackmailed by a mischievous and disingenuous NNPC, which as mischievously released the cost of PMS from the refinery to pre-empt and pitch the people against the refinery.
Dangote bought its current stock of crude in dollars, and that is what he can sell to NNPC until October 1, when he receives crude in naira from NNPC
NNPC's has not yet sold its crude in naira to Dangote (until Oct 1), so why is the NNPC rushing to tell us the cost makeup of PMS from the refinery's stock of crude which was bought in dollars? NNPC deliberately did that so that the citizens would complain that the cost (N898) is too high and provide an excuse for NNPC to justify importing from abroad.
If the NNPC was transparent and accountable, they should have given us the cost make up of their imported PMS long before now, so we can compare with the cost of PMS refined by Dangote from their dollar-based imported crude.

The key thing to focus on is this:
The NNPC should tell us the naira cost/price at which they will be supplying crude to Dangote, from October 1.
Then we can also get the cost/price of refined PMS from Dangote from October 1.
If the cost of crude from NNPC is competitive/cheap, the refined product from Dangote will also be competitive/cheap.
The NNPC should stop playing on the intelligence of Nigerians.

BabsO2:
On your quoted Investopedia picture, I don't think (I am not sure as I rely only on their published financial statements - perhaps another media hype) the plc is insolvent as it still meets its payments to lenders. Also, it generated a positive cashflow from operations in the unaudited 2023 FY published. Infact its cash balance grew in 2023 after cashflow payments to lenders and cashflow out for investment activities, suggesting a turnaround has commenced. Looking closely at the make-up of liabilities a sizeable amount is provision for expected settlements that arose in 2023 plus also provisions for decommissioning activities. If one looks at quarter on quarter perhaps one will have a better clue at that provision to see if there is possibility for the final amount coming out higher or smaller. Also, Oando appears prudent for putting provisions for decommissioning activities in its liabilities. It is worth cross-checking if other local oil production companies like SEPLAT and ARADEL have provisions for decommissioning activities and to understand what exactly the provisions are for.

This is not a warning or Sell or Buy recommendation. But a discuss. Oando may fall or rise in price.

megawealth01:
Lead me not into temptation. I want to maintain my lane with those institutions/names you mentioned

megawealth01:
They should list in NGX jare

crownprince2017:
Break jaw bawo, na boxing or wrestling we they fight. this is a joke taken too far.

ndept:
Habaa oga. Don't you have a little bit of moral, shame or humility? The same Oando you have been warning people not to buy since it was N25 moved in price to N90 in less than 2 months and humbled you and your warning. Yet you still have the justification to still be talking about it, instead of you to keep quiet and enter into your shell quietly. Haba, please respect yourself and concern yourself with other important things that will better your life. Is it because of Oando that you came to NSEMPA? Do you know that some people here may have missed out of the Oando largesse due to your persisted grievance against Oando? Traders, including myself here made massive gain from Oando and will still enter Oando if I still see the price as being undervalued when they release their result towards the end of this month.

Once again, Kudos to people like @Bagwa, prophet Utuocha, Ymcy, onlygentleguy, mikeapollo, megawealth and others who sticked to their perceived vision and journey of Oando and by now everyone has, and is still reaping massively from the Oando capital appreciation.

emmanuelewumi:
Leave matter for Mathias. You are sounding like a broken record.


Chill till the result is out.

Although I don't expect much as per the negative shareholders fund or insolvency status of the business business for the next 2 years and above

ndept:
Habaa oga. Don't you have a little bit of moral, shame or humility? The same Oando you have been warning people not to buy since it was N25 moved in price to N90 in less than 2 months and humbled you and your warning. Yet you still have the justification to still be talking about it, instead of you to keep quiet and enter into your shell quietly. Haba, please respect yourself and concern yourself with other important things that will better your life. Is it because of Oando that you came to NSEMPA? Do you know that some people here may have missed out of the Oando largesse due to your persisted grievance against Oando? Traders, including myself here made massive gain from Oando and will still enter Oando if I still see the price as being undervalued when they release their result towards the end of this month.

Once again, Kudos to people like @Bagwa, prophet Utuocha, Ymcy, onlygentleguy, mikeapollo, megawealth and others who sticked to their perceived vision and journey of Oando and by now everyone has, and is still reaping massively from the Oando capital appreciation.