Go Back   StockMarketNigeria.com Forums > Nigerian Stocks > Petroleum, Gas & Oil Stocks > Oando

Oando Discuss Oando shares

Welcome to the StockMarketNigeria.com Forums.
If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

View Poll Results: IF YOU ARE IN AMBITIOUSR SHOES WHAT WILL YOU DO?
PART WITH THE 50K 4 21.05%
ADMIT YOU WERE WRONG AND APOLOGIZE 11 57.89%
REMAIN DEFIANT 4 21.05%
Voters: 19. You may not vote on this poll

Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #9801 (permalink)  
Old 12th April 2017, 08:52 AM
nosa2's Avatar
Rank: Senior Member
Points: 53,190, Level: 100
Points: 53,190, Level: 100 Points: 53,190, Level: 100 Points: 53,190, Level: 100
Activity: 0%
Activity: 0% Activity: 0% Activity: 0%
 
Join Date: Oct 2008
Location: Lagos
Posts: 7,026
Thanks: 600
Thanked 313 Times in 272 Posts
Groans: 58
Groaned at 11 Times in 11 Posts
Blog Entries: 6
Rep Power: 16
nosa2 is on a distinguished road
Send a message via Yahoo to nosa2 Send a message via Skype™ to nosa2
Default Re: oando

Quote:
Originally Posted by migiets View Post
Before nko?. Iam even sure some phoney companies owned by them were even used to buy the stripped assets. Iam sure very soon, they will pop the price and then do a rights issue and people will pick up the rights issues.
And the chopping continues!

__________________
visit www.globalnigerian.com for my thoughts and recommendations
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9802 (permalink)  
Old 12th April 2017, 11:16 AM
wanaj0's Avatar
Rank: Senior Member
Points: 21,723, Level: 92
Points: 21,723, Level: 92 Points: 21,723, Level: 92 Points: 21,723, Level: 92
Activity: 1%
Activity: 1% Activity: 1% Activity: 1%
 
Join Date: Apr 2007
Posts: 4,836
Thanks: 4
Thanked 380 Times in 286 Posts
Groans: 1
Groaned at 1 Time in 1 Post
Rep Power: 17
wanaj0 has a spectacular aura aboutwanaj0 has a spectacular aura aboutwanaj0 has a spectacular aura about
Default Re: oando

They are selling their power plants also. They just sold the Alausa power plant to Elektron energy!
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9803 (permalink)  
Old 12th April 2017, 04:32 PM
duduspace's Avatar
Rank: Senior Member
Points: 23,840, Level: 94
Points: 23,840, Level: 94 Points: 23,840, Level: 94 Points: 23,840, Level: 94
Activity: 1%
Activity: 1% Activity: 1% Activity: 1%
 
Join Date: Feb 2007
Posts: 6,240
Thanks: 75
Thanked 351 Times in 270 Posts
Groans: 1
Groaned at 4 Times in 4 Posts
Rep Power: 17
duduspace is on a distinguished road
Default Re: oando

Quote:
Originally Posted by migiets View Post
Before nko?. Iam even sure some phoney companies owned by them were even used to buy the stripped assets. Iam sure very soon, they will pop the price and then do a rights issue and people will pick up the rights issues.
Nobody with an inkling of financial investment knowledge will buy any Oando rights at this point in time. Infact I think even Oando themselves know this which is why they are selling off assets to offload debt rather than further dilution with rights issue.
Is it Oga Oracle or someone else who once said they have swallowed a python with their COP deal. They started out in the downstream and got to midstream on reasonably sound footing, they however wanted to have a leg in every stream, but now if care is not taken there might be no Oando at the end of the day.

Oando marketing (49% gone)
EHGC (100% gone), not sure of the status of other Gas assets, in short Oando Gas and Power (Going, going.......)
If I am not mistaken, only Oando Supplies and Trading along with Oando E&P remain 100% in the fold.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
The Following User Says Thank You to duduspace For This Useful Post:
oluseyi (13th April 2017)
  #9804 (permalink)  
Old 12th April 2017, 05:36 PM
duduspace's Avatar
Rank: Senior Member
Points: 23,840, Level: 94
Points: 23,840, Level: 94 Points: 23,840, Level: 94 Points: 23,840, Level: 94
Activity: 1%
Activity: 1% Activity: 1% Activity: 1%
 
Join Date: Feb 2007
Posts: 6,240
Thanks: 75
Thanked 351 Times in 270 Posts
Groans: 1
Groaned at 4 Times in 4 Posts
Rep Power: 17
duduspace is on a distinguished road
Default Re: oando

Information on Assets disposal from the FY2016 Accounts:

Quote:


(a) Subsidiaries disposed and presented as discontinued operations


i. Sale of Marketing, refining and terminals and Supply & Trading Companies

On 30 June 2016, the Group concluded the sale of some selected down stream entities. Oando entered into a Share Purchase Agreement (SPA) with a consortium comprising of Helios
Investors Partners (‘‘Helios) and The Vitol Group (‘‘Vitol’’) to sell some of its equity interests in some selected Oando downstream companies in return for consideration. In order to complete
the sale transaction, the purchaser, Vitol, entered into a partnership with Helios to form HV Investments II (‘‘HV II’’). HV II is owned 50% each by both Vitol & Helios. HVII and Oando Netherlands
(‘‘herein Oando Coop.’’), created a company called Copper JV Co.
Copper JV Co thereafter acquired 100% of the voting interests in Oando Plc’s shareholding interests in some of its selected marketing and supply & trading companies. Copper JV is owned
60% by HV II and 40% by Oando Netherlands Holdings 2 Cooperative U.A. Oando Plc owns 100% of Oando Netherlands Holdings 2 Cooperative U.A. As a result of the sale, Oando Plc now
owns 40% of voting, legal and economic rights in Copper JV Co (who owns 100% of the select downstream entities sold by Oando plc).
The companies sold by Oando Plc and acquired by Copper JV Co are: Oando Marketing Ltd (‘‘Formerly OMP’’) and its subsidiaries (Oando Togo, Oando Ghana and Clean Cooking Fuels Ltd);
Oando Supply and Trading Ltd (‘‘OST’’); Apapa SPM Limited (‘‘ASPM’’); Oando Trippmart Limited (‘‘OTL’’) and Ebony Oil and Gas Limited ” (‘‘EOGL’’).

As a result of the sale, the Group lost control in the entities sold, but exerts significant influence over Copper JV. The Group accounted for its 40% interest in Copper JV as an investment in
Associate under IAS 28. The initial carrying value of the Associate was determined as the fair value of interest retained of N10.44billion.
A (loss)/gain on disposal of (N11.3billion) and N3.8billion, have been recognized in the consolidated financial statement (under profit after tax for the year from discontinued operations) and
separate financial statement respectively.



ii. Sale of Gas & Power entities
On 13 September 2016, the Group signed a Sale & Purchase Agreement (SPA) to dispose 100% shares in Oando Gas and Power Limited (OGP) to Glover BV a Special Purpose Vehicle
owned by Helios. The transaction was concluded in December 2016.
Prior to the sale, the Group restructured/reorganized the shares of the target sale companies. As a result of the restructuring, shares of the target subsidiaries (Gaslink Nigeria Limited, Central
Horizon Gas Company, Highlands LNG Limited, Gasgrid Nigeria Limited, Ajah Distribution Limited, Transit Nigeria Limited, Lekki Gardens Power Limited) previously held by Oando Plc were
transferred to OGP through a group restructuring. Consequently, OGP became the parent company, and Oando Plc, the ultimate parent of all the target subsidiaries to be sold. However, as at
year end, the OGP was sold and the receivable from the restructuring was settled by Helios the buyer of OGP and realised by the Group.
Consideration received by Oando for the sale of shares includes cash (N14.26bn), deferred consideration (N3.15bn), issue of loan note (N9.7billion) and share consideration in Glover BV
valued at N2.34billion. Following the share consideration, Oando plc now has 30% shares in Glover BV through Oando Holdco 3, a wholly owned subsidiary of Oando Plc.
As a result of the sale, the Group lost control in OGP, but however exerts significant influence over Glover BV. The Group accounted for its 30% interest in Glover BV as an investment in
Associate under IAS 28. The initial carrying value of the Associate was determined as the fair value of shares transferred to Oando plc through Oando Holdco 3. The fair value of the associate
was N2.34billion.
A gain on disposal of N22billion and N28.5billion, have been recognized in the consolidated financial statement (under profit after tax for the year from discontinued operations) and separate financial statement respectively.

iii. Sale of Akute Power
On 30th October 2015, the Group signed a Sale and Purchase Agreement ("SPA") for the disposal of 100% of its equity interest in Akute Power Limited to Viathan Engineering Limited. As a
result of the reorganization of the Gas & Power enities prior to the finalization of the sale, Akute Power Limited was transfered to OGP which was owned 100% by Oando Plc, through a share
exchange agreement. The transaction was concluded on 11 March 2016 after fulfilment of all closing conditions and obligations prior to that date of sale of OGP.
As a result of the sale, the Group lost control in Akute Power and have derecognized all assets and liabilities. A loss on disposal of N1.52billion, have been recognized in these audited
consolidated financial statements (under profit after tax for the year from discontinued operations).


iv. Sale of Oando Energy Services
On 31 December 2015, a Share Purchase and Sale Agreement ("SPA") to sell the entire issued share capital of Oando Energy Services Limited ("OES") to OES Integrated Services Limited (the
buyer), a Nigerian company, under a Management Buy-out (MBO) arrangement was signed. A no objection consent was obtained by SEC on 31 March 2016. Oando Energy Services was in a
net liability position of N20.92billion and was disposed for a consideration of $1. Consequently the Group lost control and derecognized assets & liabilities of the entity.
A gain/(loss) on disposal of N21.4billion and (N46.97billion), have been recognized in the consolidated financial statement and separate financial statement respectively.


(b) Liquidation of subsidiaries

During the year under review, the Company employed the services of Mr. Olajide Oyewole to voluntarily liquidate 3 dormant entities namely Oando Port-Harcourt Refinery Limited, Oando Lekki
Refinery Limited and Oando Property Limited. The liquidation process which commenced sometime ago, was successfully completed. Consequently, the companies have been dissolved. The
liquidation was as a result of dormancy for several years. All creditors/payables have been duly settled and assets realized with the exception of the amount due to the parent company, Oando
Plc.
Consequently, the investment in the subsidiaries have been written off in the separate financial statement and a loss of N5.2 million recognized in the statement of profit or loss being the
carrying value of the investments before liquidation. Also the net receivable of N435million due from the the entities have also been written off.
As a result of cessation of business, control was lost and the subsidiaries are excluded from these consolidated financial statements. A gain on deemed disposal of N420.38million and loss of
N5.25 million was recognized in the consolidated (under profit after tax for the year from discontinued operations) and separate statement of profit or loss. The gain on disposal arose due to the
net liability position of Oando Lekki Refinery and Oando Property Limited from amount payable to Oando Plc.


(c) Subsidiaries classified as held for sale

i. Planned sale of OML 125 & 134

In December 2015, the Group signed a Sale and Purchase Agreement (SPA), with Nigerian Agip Exploration Limited ‚NAE‛ for the sale of its non-operated interests in OMLs 125 and 134. As a
result of this, the associated assets and liabilities were classified as held for sale as at December 31, 2015. The transaction was expected to be completed in 2016 subject to the receipt of
consent from the Lenders and Minister of Petroleum Resources in Nigeria. As at 31 December 2016, the consent of the lenders have been secured, while the Group is still pursuing the
approval from the Minister of Petroleum Resources which is required to finalize the transactions.
As at date, the Group has a firm purchase commitment from NAE as the SPA has been signed, and is confident the consent from the minister will be obtained in 2017 to conclude the
transaction. The Group still classifies OML 125 &134 as held for sale because it has been assessed in line with IFRS 5 and all criteria are still met.
The carrying amount of the property, plant and equipment was in excess of the agreed amount as at December 31, 2016 and as such an impairment loss of N16 billion ($61.1 million) has been
recognized in the statement of profit or loss under adminstrative expenses. As part of the arrangement with NAE, the Group retains its rights to the N22.2billion ($72.7million) award for amounts
overlifted by NNPC (See Note 21) and has therefore not been included in the disposal group.



(d) Subsidiaries classified as held for sale and presented as discontinued operations
ii. Alausa Power Limited
On 28th September 2016, the board of Oando Plc passed a resolution to dispose 100% of the issued shares of Alausa Power Ltd
In accordance with IFRS 5, the assets and liabilities held for sale were recognised at the carrying amount, which is lower than the fair value less cost to sell. This is a non-recurring fair value which has been measured using observable inputs, being the prices for recent sale of similar businesses.


(e) Subsidiary previously held for sale now reclassified as continuing operations
i. Oando Trading Bermuda
The Group changed its plan to dispose a subsidiary, Oando Trading Bermuda (OTB) in 2016 previously classified as held for sale in the statement of financial position and discontinued
operations in the consolidated statement of profit or loss for the year ended 31 December 2015.
This has been reclassified from held for sale to normal assets and liabilities of the Group represented as part of continuing operations in 2016. The change in plan to sell which occurred in
2016, was at the instance of the buyer, who wanted to prevent competition between OTB and its existing trading company.
The non-current assets of OTB have been measured at its carrying amount before the asset (or disposal group) was classified as held for sale, adjusted for any depreciation, amortisation or
revaluations that would have been recognised had the asset (or disposal group) not been classified as held for sale.

The change in plan has led to an additional loss of N1.47billion and profit of N1.63billion in the profit or loss from continuing operations for the year ended 31 December 2016 and 31 December
2015 respectively
The good news (while searching for positives) for some of those who still hold out hope in the company is that some of the assets were not completely sold with Oando retaining 40% and 30% stake in the more high valued assets, that they will be more transparently managed for profitability and growth by the likes of Helios and Vitol, also that Ocean and Oil will be less inclined to steal from itself now that it owns almost 60% of Oando.
But seriously, if Oando didn't have these assets, it would have gone the way of Afren for sure.
Hopefully, the Asset disposal Tsunami will now ebb with Oil prices staying above $50 per barrell and less millitancy in the ND.

Furthermore, a.(iv), the sale of OES looks kind of dodgy, SEC should really scrutinize that deal.

Last edited by duduspace; 12th April 2017 at 05:38 PM.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
The Following User Says Thank You to duduspace For This Useful Post:
oluseyi (13th April 2017)
  #9805 (permalink)  
Old 12th April 2017, 06:53 PM
nosa2's Avatar
Rank: Senior Member
Points: 53,190, Level: 100
Points: 53,190, Level: 100 Points: 53,190, Level: 100 Points: 53,190, Level: 100
Activity: 0%
Activity: 0% Activity: 0% Activity: 0%
 
Join Date: Oct 2008
Location: Lagos
Posts: 7,026
Thanks: 600
Thanked 313 Times in 272 Posts
Groans: 58
Groaned at 11 Times in 11 Posts
Blog Entries: 6
Rep Power: 16
nosa2 is on a distinguished road
Send a message via Yahoo to nosa2 Send a message via Skype™ to nosa2
Default Re: oando

Quote:
Originally Posted by duduspace View Post
Nobody with an inkling of financial investment knowledge will buy any Oando rights at this point in time. Infact I think even Oando themselves know this which is why they are selling off assets to offload debt rather than further dilution with rights issue.
Is it Oga Oracle or someone else who once said they have swallowed a python with their COP deal. They started out in the downstream and got to midstream on reasonably sound footing, they however wanted to have a leg in every stream, but now if care is not taken there might be no Oando at the end of the day.

Oando marketing (49% gone)
EHGC (100% gone), not sure of the status of other Gas assets, in short Oando Gas and Power (Going, going.......)
If I am not mistaken, only Oando Supplies and Trading along with Oando E&P remain 100% in the fold.
Quote:
Originally Posted by duduspace View Post
Information on Assets disposal from the FY2016 Accounts:



The good news (while searching for positives) for some of those who still hold out hope in the company is that some of the assets were not completely sold with Oando retaining 40% and 30% stake in the more high valued assets, that they will be more transparently managed for profitability and growth by the likes of Helios and Vitol, also that Ocean and Oil will be less inclined to steal from itself now that it owns almost 60% of Oando.
But seriously, if Oando didn't have these assets, it would have gone the way of Afren for sure.
Hopefully, the Asset disposal Tsunami will now ebb with Oil prices staying above $50 per barrell and less millitancy in the ND.

Furthermore, a.(iv), the sale of OES looks kind of dodgy, SEC should really scrutinize that deal.
I don't know if I love of hate people like you but I know for sure that you amaze me. I have successfully raised money from people on two occasions and I can tell you that my worse nightmare would be telling them that their money has entered voicemail.

Using other peoples money to do business is far different from using your own. Decision makers in Ocean and Oil (some of whom I know personally) are pure sociopaths. They lack the ability to care about the consequences of their actions. They don't seem to care or notice that when they lose money it is poor pensioners and peoples savings they are gambling with. The COP deal was a terrible deal and everyone, but the decision makers, knew it. If you ask me I think it needs to be investigated for fraud.

When you say midstream, which midstream did they go? Is it the proposed refinery you are talking about? Bros that was a white elephant dream na.
__________________
visit www.globalnigerian.com for my thoughts and recommendations
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9806 (permalink)  
Old 13th April 2017, 11:39 AM
oluseyi's Avatar
Rank: Member
Points: 5,595, Level: 48
Points: 5,595, Level: 48 Points: 5,595, Level: 48 Points: 5,595, Level: 48
Activity: 1%
Activity: 1% Activity: 1% Activity: 1%
 
Join Date: Nov 2009
Posts: 50
Thanks: 5
Thanked 3 Times in 1 Post
Groans: 0
Groaned at 0 Times in 0 Posts
Rep Power: 8
oluseyi is on a distinguished road
Default Re: oando

Quote:
Originally Posted by nosa2 View Post
I don't know if I love of hate people like you but I know for sure that you amaze me. I have successfully raised money from people on two occasions and I can tell you that my worse nightmare would be telling them that their money has entered voicemail.

Using other peoples money to do business is far different from using your own. Decision makers in Ocean and Oil (some of whom I know personally) are pure sociopaths. They lack the ability to care about the consequences of their actions. They don't seem to care or notice that when they lose money it is poor pensioners and peoples savings they are gambling with. The COP deal was a terrible deal and everyone, but the decision makers, knew it. If you ask me I think it needs to be investigated for fraud.

When you say midstream, which midstream did they go? Is it the proposed refinery you are talking about? Bros that was a white elephant dream na.
One of the reasons I like this forum.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9807 (permalink)  
Old 13th April 2017, 03:18 PM
duduspace's Avatar
Rank: Senior Member
Points: 23,840, Level: 94
Points: 23,840, Level: 94 Points: 23,840, Level: 94 Points: 23,840, Level: 94
Activity: 1%
Activity: 1% Activity: 1% Activity: 1%
 
Join Date: Feb 2007
Posts: 6,240
Thanks: 75
Thanked 351 Times in 270 Posts
Groans: 1
Groaned at 4 Times in 4 Posts
Rep Power: 17
duduspace is on a distinguished road
Default Re: oando

Quote:
Originally Posted by nosa2 View Post
I don't know if I love of hate people like you but I know for sure that you amaze me. I have successfully raised money from people on two occasions and I can tell you that my worse nightmare would be telling them that their money has entered voicemail.

Using other peoples money to do business is far different from using your own. Decision makers in Ocean and Oil (some of whom I know personally) are pure sociopaths. They lack the ability to care about the consequences of their actions. They don't seem to care or notice that when they lose money it is poor pensioners and peoples savings they are gambling with. The COP deal was a terrible deal and everyone, but the decision makers, knew it. If you ask me I think it needs to be investigated for fraud.

When you say midstream, which midstream did they go? Is it the proposed refinery you are talking about? Bros that was a white elephant dream na.
It is probably best done from the safety of a virtual environment such as this or by correspondence or if necessary to be done physically behind a bullet proof screen or with some heavy security. Not every individual is blessed with an ability to accept reality, count their losses and move on no matter how great their losses might be.
I may not agree with the sociopath references to the principals of Oando but you are very right that there is a very big difference between 'My money', 'Their money' and 'Our money' and a smart and experienced investor would exercise caution always.
For Oando Midstream operations, I was referring to their (now sold) OES and some of their Gas and Power portfolios.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9808 (permalink)  
Old 27th April 2017, 04:25 PM
aysok1's Avatar
Rank: Senior Member
Points: 8,561, Level: 62
Points: 8,561, Level: 62 Points: 8,561, Level: 62 Points: 8,561, Level: 62
Activity: 3%
Activity: 3% Activity: 3% Activity: 3%
 
Join Date: Jun 2008
Location: MD
Posts: 751
Thanks: 154
Thanked 20 Times in 16 Posts
Groans: 1
Groaned at 1 Time in 1 Post
Rep Power: 10
aysok1 is on a distinguished road
Default Re: oando

http://www.nse.com.ng/Financial_News...APRIL_2017.pdf

EPS from continuing operation (4)k
EPS from discontinued operation 9k
EPS - 5K.

Oga Nosa's company result
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9809 (permalink)  
Old 27th April 2017, 10:28 PM
wanaj0's Avatar
Rank: Senior Member
Points: 21,723, Level: 92
Points: 21,723, Level: 92 Points: 21,723, Level: 92 Points: 21,723, Level: 92
Activity: 1%
Activity: 1% Activity: 1% Activity: 1%
 
Join Date: Apr 2007
Posts: 4,836
Thanks: 4
Thanked 380 Times in 286 Posts
Groans: 1
Groaned at 1 Time in 1 Post
Rep Power: 17
wanaj0 has a spectacular aura aboutwanaj0 has a spectacular aura aboutwanaj0 has a spectacular aura about
Default Re: oando

Quote:
Originally Posted by aysok1 View Post
http://www.nse.com.ng/Financial_News...APRIL_2017.pdf

EPS from continuing operation (4)k
EPS from discontinued operation 9k
EPS - 5K.

Oga Nosa's company result
No big deal. They sold the profitable part of their business. Very interesting strategy
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9810 (permalink)  
Old 27th April 2017, 11:00 PM
nosa2's Avatar
Rank: Senior Member
Points: 53,190, Level: 100
Points: 53,190, Level: 100 Points: 53,190, Level: 100 Points: 53,190, Level: 100
Activity: 0%
Activity: 0% Activity: 0% Activity: 0%
 
Join Date: Oct 2008
Location: Lagos
Posts: 7,026
Thanks: 600
Thanked 313 Times in 272 Posts
Groans: 58
Groaned at 11 Times in 11 Posts
Blog Entries: 6
Rep Power: 16
nosa2 is on a distinguished road
Send a message via Yahoo to nosa2 Send a message via Skype™ to nosa2
Default Re: oando

Quote:
Originally Posted by aysok1 View Post
http://www.nse.com.ng/Financial_News...APRIL_2017.pdf

EPS from continuing operation (4)k
EPS from discontinued operation 9k
EPS - 5K.

Oga Nosa's company result
Quote:
Originally Posted by wanaj0 View Post
No big deal. They sold the profitable part of their business. Very interesting strategy
How these people are not yet behind bars is amazing. All of us just siddon like mum dey look as some people just dey use us play.

Anyway, why I dey complain, shey the N in SMN stands for Nigeria. Mumuism is in our DNA.


#SlowWalkToBankruptcy
__________________
visit www.globalnigerian.com for my thoughts and recommendations

Last edited by nosa2; 27th April 2017 at 11:04 PM.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9811 (permalink)  
Old 2nd May 2017, 05:27 AM
Sean12010's Avatar
Rank: Senior Member
Points: 2,854, Level: 32
Points: 2,854, Level: 32 Points: 2,854, Level: 32 Points: 2,854, Level: 32
Activity: 1%
Activity: 1% Activity: 1% Activity: 1%
 
Join Date: Feb 2014
Posts: 184
Thanks: 6
Thanked 3 Times in 3 Posts
Groans: 1
Groaned at 0 Times in 0 Posts
Rep Power: 0
Sean12010 is on a distinguished road
Default Re: oando

Quote:
Originally Posted by nosa2 View Post
How these people are not yet behind bars is amazing. All of us just siddon like mum dey look as some people just dey use us play.

Anyway, why I dey complain, shey the N in SMN stands for Nigeria. Mumuism is in our DNA.


#SlowWalkToBankruptcy
https://www.thisdaylive.com/index.ph...evenue-by-116/

#SlowWalkToRecovery
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9812 (permalink)  
Old 9th May 2017, 11:23 AM
Sean12010's Avatar
Rank: Senior Member
Points: 2,854, Level: 32
Points: 2,854, Level: 32 Points: 2,854, Level: 32 Points: 2,854, Level: 32
Activity: 1%
Activity: 1% Activity: 1% Activity: 1%
 
Join Date: Feb 2014
Posts: 184
Thanks: 6
Thanked 3 Times in 3 Posts
Groans: 1
Groaned at 0 Times in 0 Posts
Rep Power: 0
Sean12010 is on a distinguished road
Default Re: oando

Quote:
Originally Posted by duduspace View Post
Information on Assets disposal from the FY2016 Accounts:



The good news (while searching for positives) for some of those who still hold out hope in the company is that some of the assets were not completely sold with Oando retaining 40% and 30% stake in the more high valued assets, that they will be more transparently managed for profitability and growth by the likes of Helios and Vitol, also that Ocean and Oil will be less inclined to steal from itself now that it owns almost 60% of Oando.
But seriously, if Oando didn't have these assets, it would have gone the way of Afren for sure.
Hopefully, the Asset disposal Tsunami will now ebb with Oil prices staying above $50 per barrell and less millitancy in the ND.

Furthermore, a.(iv), the sale of OES looks kind of dodgy, SEC should really scrutinize that deal.
It's too quiet here...
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9813 (permalink)  
Old 9th May 2017, 11:26 AM
Sean12010's Avatar
Rank: Senior Member
Points: 2,854, Level: 32
Points: 2,854, Level: 32 Points: 2,854, Level: 32 Points: 2,854, Level: 32
Activity: 1%
Activity: 1% Activity: 1% Activity: 1%
 
Join Date: Feb 2014
Posts: 184
Thanks: 6
Thanked 3 Times in 3 Posts
Groans: 1
Groaned at 0 Times in 0 Posts
Rep Power: 0
Sean12010 is on a distinguished road
Default Re: oando

Quote:
Originally Posted by nosa2 View Post
How these people are not yet behind bars is amazing. All of us just siddon like mum dey look as some people just dey use us play.

Anyway, why I dey complain, shey the N in SMN stands for Nigeria. Mumuism is in our DNA.


#SlowWalkToBankruptcyCryptocurrency
How's the mining business bros?
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9814 (permalink)  
Old 9th May 2017, 12:11 PM
baotoghile's Avatar
Rank: Senior Member
Points: 10,587, Level: 68
Points: 10,587, Level: 68 Points: 10,587, Level: 68 Points: 10,587, Level: 68
Activity: 0%
Activity: 0% Activity: 0% Activity: 0%
 
Join Date: Oct 2007
Location: Lagos, Nigeria
Posts: 1,195
Thanks: 20
Thanked 107 Times in 71 Posts
Groans: 0
Groaned at 2 Times in 2 Posts
Blog Entries: 1
Rep Power: 11
baotoghile is on a distinguished road
Send a message via Yahoo to baotoghile
Default Re: oando

Oando, along with few others have been qualified to get the 2017 Nnpc dsdp contract after the crude for cash deal. FO has seemingly lost out, probably due to the farouk/otedola saga among other issues!!! My view.
__________________
progressively steering your portfolios through times
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9815 (permalink)  
Old 9th May 2017, 01:51 PM
nosa2's Avatar
Rank: Senior Member
Points: 53,190, Level: 100
Points: 53,190, Level: 100 Points: 53,190, Level: 100 Points: 53,190, Level: 100
Activity: 0%
Activity: 0% Activity: 0% Activity: 0%
 
Join Date: Oct 2008
Location: Lagos
Posts: 7,026
Thanks: 600
Thanked 313 Times in 272 Posts
Groans: 58
Groaned at 11 Times in 11 Posts
Blog Entries: 6
Rep Power: 16
nosa2 is on a distinguished road
Send a message via Yahoo to nosa2 Send a message via Skype™ to nosa2
Default Re: oando

Quote:
Originally Posted by Sean12010 View Post
How's the mining business bros?
with a return on equity of between 10-15% a month i can't complain.
__________________
visit www.globalnigerian.com for my thoughts and recommendations
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9816 (permalink)  
Old 9th May 2017, 03:35 PM
duduspace's Avatar
Rank: Senior Member
Points: 23,840, Level: 94
Points: 23,840, Level: 94 Points: 23,840, Level: 94 Points: 23,840, Level: 94
Activity: 1%
Activity: 1% Activity: 1% Activity: 1%
 
Join Date: Feb 2007
Posts: 6,240
Thanks: 75
Thanked 351 Times in 270 Posts
Groans: 1
Groaned at 4 Times in 4 Posts
Rep Power: 17
duduspace is on a distinguished road
Default Re: oando

Quote:
Originally Posted by Sean12010 View Post
It's too quiet here...
Their share price is appreciating again it seems.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9817 (permalink)  
Old 9th May 2017, 07:28 PM
aysok1's Avatar
Rank: Senior Member
Points: 8,561, Level: 62
Points: 8,561, Level: 62 Points: 8,561, Level: 62 Points: 8,561, Level: 62
Activity: 3%
Activity: 3% Activity: 3% Activity: 3%
 
Join Date: Jun 2008
Location: MD
Posts: 751
Thanks: 154
Thanked 20 Times in 16 Posts
Groans: 1
Groaned at 1 Time in 1 Post
Rep Power: 10
aysok1 is on a distinguished road
Default Re: oando

Quote:
Originally Posted by duduspace View Post
Their share price is appreciating again it seems.
1) Forcadoes Terminal is coming back.
Shell testing Nigeria's Forcados oil pipeline for restart - sources | Reuters

2).Agip & Oando Refinery
Shell testing Nigeria's Forcados oil pipeline for restart - sources | Reuters

3).FPI is creeping back (at huge cost, for our Stupidity)
https://www.bloomberg.com/news/artic...ial-naira-rate.

4). direct sale of crude oil and direct purchase of products program (DSDP) for 2017. https://www.platts.com/latest-news/o...shape-26719422

5). Rumour has it that we are going to be treated to another Right Issue(Source is nairaland)http://www.nairaland.com/newpost?pos...&topic=1131485


Last edited by aysok1; 10th May 2017 at 04:30 AM.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9818 (permalink)  
Old 12th May 2017, 11:31 AM
Getthere's Avatar
Rank: Senior Member
Points: 3,488, Level: 36
Points: 3,488, Level: 36 Points: 3,488, Level: 36 Points: 3,488, Level: 36
Activity: 11%
Activity: 11% Activity: 11% Activity: 11%
 
Join Date: May 2013
Posts: 215
Thanks: 6
Thanked 8 Times in 8 Posts
Groans: 9
Groaned at 10 Times in 10 Posts
Rep Power: 0
Getthere is on a distinguished road
Default Re: oando

Oando to take over Port Harcourt Refinery - The Nation Nigeria


Oando to take over Port Harcourt Refinery


•Mulls N40b capital raising

The Federal Government has entered into a Memorandum of Understanding (MoU) with Nigeria’s largest indigenous energy group, Oando Plc to manage the Port Harcourt Refinery under a repair, operate and mainteain (ROM) arrangement.

Chief executive officer, Oando Plc, Mr. Wale Tinubu at a presentation on the underlying facts of the group’s operations at the Nigerian Stock Exchange (NSE) yesterday in Lagos, said the group has received approval of the government to oversee the Port Harcourt Refinery.

“We also got approval from the President to repair, operate and maintain the Port-Harcourt refinery together with our partner Agip. We plan to increase the refinery capacity from 30 per cent to a 100 per cent, subsequently to 120 per cent,” Tinubu said.


He said the parties to the transaction were finalising the details of the arrangement that will help to enhance the efficiency of refinery.

He noted that the group has deleveraged its balance sheet through the divestment of its upstream services company, Oando Energy Services and embarked on the expansion of its retail and gas footprint through a strategic partnership with Helios Investment Partners and Vitol Group to recapitalise its downstream business for $210 million and the $115.8 equity buy-in of its Gas and Power business by Helios Investment Partners.

He said the company was considering raising some N40 billion in new capital.

Tinubu said the first quarter earnings of the group underscore its proactive decision to focus on its dollar denominated export businesses.

“Our resilience is evident in our capacity to grow via a diversified model, and as we continue to chart our deliberate path in this challenging business environment, we look forward to better performance in the quarters to come,” Tinubu said.

Oando doubled its turnover in the first quarter of this year as the indigenous energy group continued to reap from its strategic focus on assets optimisation and deleverage.

Key extracts of the three-month report for the period ended March 31, 2017 showed that Oando Group grew its top-line by 116 per cent to N138.27 billion in first quarter 2017 compared with N63.9 billion recorded in comparable period of 2016. Gross profit also increased by 53 per cent from N8.7 billion in first quarter 2016 to N13.4 billion in first quarter 2017. The company recovered from a pre-tax loss of N461 million in first quarter 2016 with a pre-tax profit of N494 million in 2017. The company also reduced its net indebtedness by 29 per cent from N316.6 billion in first quarter 2016 to N225.9 billion in first quarter 2017.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9819 (permalink)  
Old 18th May 2017, 10:47 AM
Waves's Avatar
Rank: Senior Member
Points: 14,716, Level: 78
Points: 14,716, Level: 78 Points: 14,716, Level: 78 Points: 14,716, Level: 78
Activity: 4%
Activity: 4% Activity: 4% Activity: 4%
 
Join Date: Mar 2009
Posts: 2,408
Thanks: 74
Thanked 275 Times in 198 Posts
Groans: 0
Groaned at 1 Time in 1 Post
Rep Power: 11
Waves will become famous soon enough
Default Re: oando

Quote:
Originally Posted by Getthere View Post
Oando to take over Port Harcourt Refinery - The Nation Nigeria


Oando to take over Port Harcourt Refinery


•Mulls N40b capital raising

The Federal Government has entered into a Memorandum of Understanding (MoU) with Nigeria’s largest indigenous energy group, Oando Plc to manage the Port Harcourt Refinery under a repair, operate and mainteain (ROM) arrangement.

Chief executive officer, Oando Plc, Mr. Wale Tinubu at a presentation on the underlying facts of the group’s operations at the Nigerian Stock Exchange (NSE) yesterday in Lagos, said the group has received approval of the government to oversee the Port Harcourt Refinery.

“We also got approval from the President to repair, operate and maintain the Port-Harcourt refinery together with our partner Agip. We plan to increase the refinery capacity from 30 per cent to a 100 per cent, subsequently to 120 per cent,” Tinubu said.


He said the parties to the transaction were finalising the details of the arrangement that will help to enhance the efficiency of refinery.

He noted that the group has deleveraged its balance sheet through the divestment of its upstream services company, Oando Energy Services and embarked on the expansion of its retail and gas footprint through a strategic partnership with Helios Investment Partners and Vitol Group to recapitalise its downstream business for $210 million and the $115.8 equity buy-in of its Gas and Power business by Helios Investment Partners.

He said the company was considering raising some N40 billion in new capital.

Tinubu said the first quarter earnings of the group underscore its proactive decision to focus on its dollar denominated export businesses.

“Our resilience is evident in our capacity to grow via a diversified model, and as we continue to chart our deliberate path in this challenging business environment, we look forward to better performance in the quarters to come,” Tinubu said.

Oando doubled its turnover in the first quarter of this year as the indigenous energy group continued to reap from its strategic focus on assets optimisation and deleverage.

Key extracts of the three-month report for the period ended March 31, 2017 showed that Oando Group grew its top-line by 116 per cent to N138.27 billion in first quarter 2017 compared with N63.9 billion recorded in comparable period of 2016. Gross profit also increased by 53 per cent from N8.7 billion in first quarter 2016 to N13.4 billion in first quarter 2017. The company recovered from a pre-tax loss of N461 million in first quarter 2016 with a pre-tax profit of N494 million in 2017. The company also reduced its net indebtedness by 29 per cent from N316.6 billion in first quarter 2016 to N225.9 billion in first quarter 2017.
I really don't know what is driving up the price of this stock. If it is this PH refinery issue, then I hope those buying these shares know what they are doing.

https://www.thecable.ng/nupeng-resis...any-kills-jobs
__________________
“Successful investing is anticipating the anticipations of others.” (John Maynard Keynes quotes (English economist, journalist, and financier, 1883-1946)
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9820 (permalink)  
Old 18th May 2017, 03:03 PM
Getthere's Avatar
Rank: Senior Member
Points: 3,488, Level: 36
Points: 3,488, Level: 36 Points: 3,488, Level: 36 Points: 3,488, Level: 36
Activity: 11%
Activity: 11% Activity: 11% Activity: 11%
 
Join Date: May 2013
Posts: 215
Thanks: 6
Thanked 8 Times in 8 Posts
Groans: 9
Groaned at 10 Times in 10 Posts
Rep Power: 0
Getthere is on a distinguished road
Default Re: oando

Quote:
Originally Posted by Waves View Post
I really don't know what is driving up the price of this stock. If it is this PH refinery issue, then I hope those buying these shares know what they are doing.

https://www.thecable.ng/nupeng-resis...any-kills-jobs
Its curious that the price is going up,despite the work that lies ahead.

As per this Nupeng guys, they just want a cut of the transaction and want guarantees that there would not downsizing.

Which even makes it less profitable,if the demands of the Union are met.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Reply

« - | - »

Similar Threads
Thread Thread Starter Forum Replies Last Post
Oando opts for equity-swap to accommodate shareholders anekwlc Other Stocks & Investment strategies 2 10th June 2007 04:32 PM


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off



All times are GMT +1. The time now is 11:38 PM.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.
SEO by vBSEO 3.3.0
StockMarketNigeria.comAd Management plugin by RedTyger
no new posts

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37