Capital oil

[MohaNdanusa]

cud anyoe of our stock gurus tell me y japaul is loosin ground and if its a good buy at its prsent 9.80?...............IIL

[BLUEMONEY]

Originally Posted by MohaNdanusa

cud anyoe of our stock gurus tell me y japaul is loosin ground and if its a good buy at its prsent 9.80?...............IIL

this thread is for capitol oil . however japaul oil share price is coming down because the market is bearish and investors are taking profit. on whether #9.80 is a good entry price, i will say that it depends on your investment plan.
in my opinion, it is good for the long term but not for the short term.

[ibibia dukobo]

what is happening to capital oil after hitting a high of 17.50 this year , they are curently on 13.83 {both opening and closing price } is the bearish period affecting them , or is it of foundamental issue ?. can one actually say that is a good buy or .............. pls. what do u think ?.

[billions]

Originally Posted by ibibia dukobo

what is happening to capital oil after hitting a high of 17.50 this year , they are curently on 13.83 {both opening and closing price } is the bearish period affecting them , or is it of foundamental issue ?. can one actually say that is a good buy or .............. pls. what do u think ?.

I think SEC is investigating d company for price manipulation.....they have been indefinitely suspended.

[ibibia dukobo]

how solid is this ?., what is the source of your info. pls.

[billions]

Originally Posted by ibibia dukobo

how solid is this ?., what is the source of your info. pls.

is it not capoil or is capital oil limited now listed?

[billions]

Written by Peter Egwuatu
Thursday, 14 February 2008
THE Securities and Exchange Commission (SEC) has commenced investigation of recent rapid price movement in listed shares of African Petroleum (AP) Plc, Big Treat Plc, Afroil Plc, First Aluminium Plc, Capital Oil Plc and IPWA Plc.
This followed allegations of price manipulation and other sharp practices in the stock market.

AP recorded a low and high price of N46.29 per share in July and N155.57 per share in December last year respectively.

At the close of trading yesterday, the price closed at N260.00 per share. That means the price has risen by 461.7 per cent from a low price of N46.29 per share in July last year to N260.00 per share.

Spokesperson for the Commission, Mr. Lanre Oloyi, told Vanguard: “If, at the end of the investigation, a case of price manipulation or insider dealing is established against any person/financial adviser, the Commission would apply appropriate punitive measures.

“The Commission wishes to remind all operators that insider dealing is a criminal offence in the capital market and urge them to always operate within the confines of the rules to ensure transparency and integrity of the market,” he said.

In the same manner, Big Treat Plc which was listed last December at N3.30 per share at the Nigerian Stock Exchange (NSE) has risen to N16.99 per share at the close of trading yesterday. First Aluminium Plc, another quoted company in the Industrial/Domestic Products sub sector, closed at N5.09 per share from a low of N0.63 per share last year.

Capital Oil Plc, another company in the Emerging Markets sub sector, rose to N17.50 per share from a low of N0.33 per share last year while IPWA Plc closed at N8.57 per share from a low of N0.33 per share last year.

The commission’s spokesperson said SEC was committed to protecting investors from all forms of sharp practices. SEC in the past had penalised operators caught in various kinds of sharp practices.

SEC, in the case of Bonkolans Investments Limited through its Administrative Proceedings Committee (APC) sanctioned some operators on the alleged scam on the floor of the Nigeria Stock Exchange involving illegal sale of Nestle Foods Plc, Unilever Plc and other securities by some individuals through some stockbroking houses.

Consequently, the stockbroking houses and individuals involved including the Nigerian Stock Exchange, the Central Securities Clearing Systems Ltd (CSCS) and Union Bank Plc (Registrar Dept) were invited before the APC of the Commission to explain their roles in the scam.

At the end of the hearings, APC directed some stockbroking houses and their brokers that participated in the scam to either restore or buy back the shares illegally sold by them to their bonafide owners. Some of the stockbrokers were suspended and others banned from participating in the Nigerian capital market.

[dannynoko]

Hey Forumites-

Just to re-open the wound and get more information on Capoil. This stock was suspended by SEC & NSE for nefarious reason this year. Since then, unlike Afro Oil, we have not had any thing from them. Please do anybody in the house has any info regarding this company? My brokers don't have a clue. Are they coming back or sweeped out the market?. Guys am hurting, I couldn't jump out before the hammer when I asked my brokers to.......what is next for investors? Is there anything Holders should be doing at this point ? Am screwed this year for real! I appreciate any thoughtful input.

[dannynoko]

Originally Posted by dannynoko

Hey Forumites-

Just to re-open the wound and get more information on Capoil. This stock was suspended by SEC & NSE for nefarious reason this year. Since then, unlike Afro Oil, we have not had any thing from them. Please do anybody in the house has any info regarding this company? My brokers don't have a clue. Are they coming back or sweeped out the market?. Guys am hurting, I couldn't jump out before the hammer when I asked my brokers to.......what is next for investors? Is there anything Holders should be doing at this point ? Am screwed this year for real! I appreciate any thoughtful input.

Forumites-
Does it mean no body in the house has any news or idea with Capoil?Senior members of this forum any thought or advise on this moribond stock?Please I need your thought on this!

[dannynoko]

Originally Posted by billions

I think SEC is investigating d company for price manipulation.....they have been indefinitely suspended.

Billions- Any other development with this Capoil that you are aware of after their suspension from the floor? Any hope they will bounce back? Thnx