Orient Petroleum PP

[newton]

Guys what do u think about the Orient Pet PP. Note it was done 2yrs back wt 5% suscriptn

[pumping]

Originally Posted by newton

Guys what do u think about the Orient Pet PP. Note it was done 2yrs back wt 5% suscriptn

Did you participate? A PP with 5% subscription is as good as dead except the company wants to re-package it and approach the market again.

[newton]

They r approaching the market again. This time the offer is being packaged by UBA global markets and surely its underwritten in compliane wt the new sec rules

[olusolakemmy]

Originally Posted by newton

They r approaching the market again. This time the offer is being packaged by UBA global markets and surely its underwritten in compliane wt the new sec rules

what other detail do u have on the coy? the minimum unit you have to buy and when the offer is likely to start.
but really the fact that the first attempt was a failure does not mean that the coy is a dead one, lots of factors comes into play.
so lets see

[c kenneths]

I believe the offer failed due to the very high minimun capital requirement for getting in, 1 milla as at then.

[olusolakemmy]

i mentioned earlier that there must be an underlying factor to why the offer failed.
well if truly thats why they failed, i hope they have learned their lessons.
we hope to heqr more on the offer

[c kenneths]

Does anyone have any good inside info about this company, where are they located and what are the reasons they believe they can unseat other petroleum companies?

[olusolakemmy]

Originally Posted by c kenneths

Does anyone have any good inside info about this company, where are they located and what are the reasons they believe they can unseat other petroleum companies?

i was going to ask you the same thing, the detail of the coy..
i feel if you can know about them during the last PP, then you should have more info on them

[chineduz]

Originally Posted by c kenneths

Does anyone have any good inside info about this company, where are they located and what are the reasons they believe they can unseat other petroleum companies?

No inside information but search came up with info on orient pet pp published on Dec 7th ....

Vanguard Online Edition - Orient Petroleum Resources shops for N12b

[Naijadr]

Anyone that has inside info on Orient will tell u to stay clear...I would

[Apache]

I think they are the same guys that want to build a refinery in anambra state. their license has been reconfirmed by DPR and they have really reached an advance stage in terms of paperwork. i think they also got some OPL to prospect for oil within the anambra basin.
I will try and search for the news but i think their main business/proposal is the refinery they intend to build

[Apache]

Finally got it.
Happy reading guys

[wanaj0]

Originally Posted by Apache

Finally got it.
Happy reading guys

Not sure why anyone will buy into Orient!!! last time it was 5% subscribed. Will be suprised if there is any improvement.

If the offer was that good, institutional investors will be all over them Truth is that it is not attractive. No way to spin that one.

[nezvest]

I have some info on this company.OPR is a company of the future.I can assure you that it is real!! They have done major work at the site at Aguleri?Umuleri region of anambra state and they have already acquired oil blocks for the same refinery which is also in the same place. This is an opportunity totap inot oil deposits in this region which has never been tapped. Men
of high integrity like Emeka Anyoku (Former Common Wealth Chairman) are involved. The refinery is expected on mid next year. I incourage you all to be involved. I want to know if I can afford it so that I jump in. You can go to the site and see things for yourself!!!

[Taipan]

@nezvest

Please, can u let us have the link to the site? Would really love to check it out.
Thanks.

[Taipan]

Originally Posted by Naijadr

Anyone that has inside info on Orient will tell u to stay clear...I would

Just finished a preliminary scan of the PP memorandum (cost me quite some sleep) and really it's not looking that bad.
They seem to have lofty plans and have done their homework and received the necessary approvals. They've even obtained a loan (85% of the needed N65billion) from China EximBank with UBA serving as the repayment guarantor. The remaining 15% (N12.75billion) is what is being sourced locally as part of the agreement. This looks quite healthy to me.
There arent any concrete plans to come to the market soon so liquidity might be a problem. But considering the PE ratio of 2.2 and dividend payout of about 55% of earnings (2009) to 81% (2011), I dont think it's such a bad idea. And of course, they might change their minds tomorrow.
The only question then seems to be whether they can actualize the plan. If they can, then its not an offer to miss so i guess that's what we should be discussing.
So please, Naijadr, if there's something you know about them which isn't public, do be kind enough to share it with us.

[nezvest]

My freind is from Umuleri, He told me of how this company has negotiated with villagers and the kind of building they are puting on ground. I can assure you that this is for real. I just need to know the minimum amount of share one can purchase. I hope it is not like MTN's offer. Cheers

[Taipan]

Yippee!
I finally got the application form from a UBA contact. And good news, minimum subscription is 1,000 units of N100 each i.e. N100,000, and after that in multiples of 500 units.
It was actually a Word document but I've converted it to pdf.
You can submit it at any UBA branch nationwide. There's no closing date, allocation will be based on a first-come, first-served basis.

[crtide]

No closing date? That is scary. that means it could potentially go on for God knows how long. Then there is no need to rush and buy. I might as well wait till as late as possible since it is not likely that monies will be returned in the event that it is oversubscribed. I will keep my ears close to the ground for a closing date

[Babs_O]

@crtide.

The closing date is 31-Dec-07. See Vanguard.
Vanguard Online Edition - Orient Petroleum Resources shops for N12b