Nestoil Pp

[muranay@yahoo.com]

Nestoil set to source N44.25b from stock market 29/7/2008






The Nestoil Group has concluded arrangements to shop for about N44.25 billion from the Nigerian Stock Exchange (NSE) through private placement.



The development came on the heels of the commissioning of the company’s multi-billion naira industrial facilities and dredging vessels in Port Harcourt, Rivers State by the Vice-President, Dr Goodluck Jonathan, who was represented by the Minister of Special Duties, Mr. Godsday Orubebe.

The company would put on offer 1.5 billion shares at N29.5 per share. As part of efforts to involve the communities in ownership of the company, the company shared some of the subscription forms to the members of the host communities who were present at the commissioning ceremony.

With the offer, Nestoil has become the first oil and gas service company to be listed on the stock market.

The President, Nestoil Group Sir Ernest Azudialu-Obiejesi in his address said that the facilities which sit on 59 acres of land was achieved as a result of encouragement from Vice-President Jonathan who made the management have faith in investing in the Niger Delta.

He said: "Your Excellency, this 59-acre of engineering, procurement and construction (EPC) facility is specially engineered and stabilised for offshore and onshore platform construction activities. Honour us by accepting to unveil the Great MV Enesto 1, the most sophisticated dredger in the coast of Africa today."

He assured government that its efforts at boosting local content would achieve results adding that with his colleagues in the Petroleum Technology Association of Nigeria (PETAN) and Pipeline Association of Nigeria (PLAN), they would not relent until they create employment and enterprise opportunities for Nigerians.

The company was established 15 years ago and went through some changes before changing its name to Nestoil.

"What we celebrate began 15 years ago as an offshoot of a much older and successful trading company, the Obi-Jackson Group. From 1991 when we incorporated Nestoil as a fully indigenous oil company, we set our eyes on the exploration of the hidden potentials in the Nigerian upstream and downstream sectors, which have so far proven inaccessible to most Nigerian entrepreneurs. "From 1992, Nestoil systemically reengineered itself to effectively respond to the challenges of providing professional and qualitative support to the major operators in the Nigerian oil and gas industry.

"The management of Nestoil was encouraged to believe in the Nigerian local content philosophy and aggressively pursue performance because of the historic antecedent of Britain’s industrial revolution of the early 70s which achieved up to 70 per cent indigenization of major businesses in Britain

"Nestoil driven by the belief that with proper encouragement from policy makers, support from bankers and access to contracts provided by major players like the Nigerian National Petroleum Corporation (NNPC), Shell, Mobil, Elf and Chevron, among others, there is success for any focused indigenous company.

"The commissioning of the facility is a manifestation of the tenacity of our dream, our faith in God and the belief in Nigeria."

[pegheneji]

Originally Posted by muranay@yahoo.com

Nestoil set to source N44.25b from stock market 29/7/2008





The Nestoil Group has concluded arrangements to shop for about N44.25 billion from the Nigerian Stock Exchange (NSE) through private placement.



The development came on the heels of the commissioning of the company’s multi-billion naira industrial facilities and dredging vessels in Port Harcourt, Rivers State by the Vice-President, Dr Goodluck Jonathan, who was represented by the Minister of Special Duties, Mr. Godsday Orubebe.

The company would put on offer 1.5 billion shares at N29.5 per share. As part of efforts to involve the communities in ownership of the company, the company shared some of the subscription forms to the members of the host communities who were present at the commissioning ceremony.

With the offer, Nestoil has become the first oil and gas service company to be listed on the stock market.

The President, Nestoil Group Sir Ernest Azudialu-Obiejesi in his address said that the facilities which sit on 59 acres of land was achieved as a result of encouragement from Vice-President Jonathan who made the management have faith in investing in the Niger Delta.

He said: "Your Excellency, this 59-acre of engineering, procurement and construction (EPC) facility is specially engineered and stabilised for offshore and onshore platform construction activities. Honour us by accepting to unveil the Great MV Enesto 1, the most sophisticated dredger in the coast of Africa today."

He assured government that its efforts at boosting local content would achieve results adding that with his colleagues in the Petroleum Technology Association of Nigeria (PETAN) and Pipeline Association of Nigeria (PLAN), they would not relent until they create employment and enterprise opportunities for Nigerians.

The company was established 15 years ago and went through some changes before changing its name to Nestoil.

"What we celebrate began 15 years ago as an offshoot of a much older and successful trading company, the Obi-Jackson Group. From 1991 when we incorporated Nestoil as a fully indigenous oil company, we set our eyes on the exploration of the hidden potentials in the Nigerian upstream and downstream sectors, which have so far proven inaccessible to most Nigerian entrepreneurs. "From 1992, Nestoil systemically reengineered itself to effectively respond to the challenges of providing professional and qualitative support to the major operators in the Nigerian oil and gas industry.

"The management of Nestoil was encouraged to believe in the Nigerian local content philosophy and aggressively pursue performance because of the historic antecedent of Britain’s industrial revolution of the early 70s which achieved up to 70 per cent indigenization of major businesses in Britain

"Nestoil driven by the belief that with proper encouragement from policy makers, support from bankers and access to contracts provided by major players like the Nigerian National Petroleum Corporation (NNPC), Shell, Mobil, Elf and Chevron, among others, there is success for any focused indigenous company.

"The commissioning of the facility is a manifestation of the tenacity of our dream, our faith in God and the belief in Nigeria."

Thanks 4 the info, but is it a pp or public offer, in anycase, pls help with the memorandum.

[pegheneji]

please i am interested in this nestoil of a thing please can any one help me wih details of the offer

[hispy99]

Nestoil seals deal with Exxon Mobil on tank farm revival

NIGERIA'S leading indigenous Engineering, Construction and Procurement (EPC) Company, Nestoil Group, has signed a deal with Exxon Mobil, to revamp Exxon Mobil tank farm. With the signing of the agreement, Nestoil is expected to revamp Mobil Crude Storage, Condensate Storage and Settlement tanks for Exxon Mobil production in the Niger Delta region.

The agreement is coming on the heels of the recent commissioning of Nestoil ultramodern EPC facility and the unveiling of its newly acquired dredger, MV.ENESTO 1 by the Vice President, Dr. Jonathan Goodluck. The company has recently won several contracts with other oil majors.

The Executive Director, Operations, Nestoil Group, K.C Akuma, stated that the multi-billion naira contract will give his company the opportunity of demonstrating its capability in crude storage tank fabrication and revamp, an area exclusively dominated by foreign companies in the past. He also confirmed that work is expected to commence shortly, and the company is going to mobilise its recently commissioned EPC facility into action to ensure a smooth contract execution.

Although Akuma would not state the actual value of the contract, he confirmed it runs into several million dollars.

Nestoil was incorporated in 1991 as a new age Local Content Initiative in the oil and gas rich Niger Delta region of Nigeria. It is part of an indigenous conglomerate actively engaged in diverse sectors of the Nigerian economy.

The company is an established provider of premium Engineering, Procurement and Construction (EPC) services to the oil, gas and manufacturing industries, with its activities backed up technically by some of the best known engineering companies overseas.

With communication network and contact offices spread nationally and internationally, Nestoil is a one-stop shop for engineering, procurement and construction services.

The company deploys a unique combination of local and foreign professionals to deliver excellent and cost effective EPC solution to industry problems. It has a policy of involving the best available locals, in all trades, with rigorous supervision, which provides safe working environment without compromising on quality

[Articulate]

Originally Posted by hispy99

Nestoil seals deal with Exxon Mobil on tank farm revival

NIGERIA'S leading indigenous Engineering, Construction and Procurement (EPC) Company, Nestoil Group, has signed a deal with Exxon Mobil, to revamp Exxon Mobil tank farm. With the signing of the agreement, Nestoil is expected to revamp Mobil Crude Storage, Condensate Storage and Settlement tanks for Exxon Mobil production in the Niger Delta region.

The agreement is coming on the heels of the recent commissioning of Nestoil ultramodern EPC facility and the unveiling of its newly acquired dredger, MV.ENESTO 1 by the Vice President, Dr. Jonathan Goodluck. The company has recently won several contracts with other oil majors.

The Executive Director, Operations, Nestoil Group, K.C Akuma, stated that the multi-billion naira contract will give his company the opportunity of demonstrating its capability in crude storage tank fabrication and revamp, an area exclusively dominated by foreign companies in the past. He also confirmed that work is expected to commence shortly, and the company is going to mobilise its recently commissioned EPC facility into action to ensure a smooth contract execution.

Although Akuma would not state the actual value of the contract, he confirmed it runs into several million dollars.

Nestoil was incorporated in 1991 as a new age Local Content Initiative in the oil and gas rich Niger Delta region of Nigeria. It is part of an indigenous conglomerate actively engaged in diverse sectors of the Nigerian economy.

The company is an established provider of premium Engineering, Procurement and Construction (EPC) services to the oil, gas and manufacturing industries, with its activities backed up technically by some of the best known engineering companies overseas.

With communication network and contact offices spread nationally and internationally, Nestoil is a one-stop shop for engineering, procurement and construction services.

The company deploys a unique combination of local and foreign professionals to deliver excellent and cost effective EPC solution to industry problems. It has a policy of involving the best available locals, in all trades, with rigorous supervision, which provides safe working environment without compromising on quality

Can anybody provide us with the prospectus for informed analysis? I'll also make efforts to lay my hand on it.

[hispy99]

[Nestoil projects N2 dividend in 2011 FYE
Posted Saturday, August 9, 2008

-As N44 billion Placement still on

PETER OBIORA

Proshare NI

August 09, 2008 at 08:56 GMT

Nestoil Limited operating in the Oil/Gas and Maritime sector of the Nigerian economy has projected a N2.00 dividend payout to investors in its 2011 Financial Year End (FYE). This was contained in the Private Placement Memorandum made available to Proshare NI in Lagos Nigeria.

The company has projected to pay its investors a N1.00, N1.50 Kobo and N2.00 dividend payout in its years 2009, 2010 and 2011 FYE’s respectively.

Projected Turnover of the company is expected to rise from N2.0 billion in the five months ended May 31, 2008 to N75.816 billion in the year ending December 31, 2011. Indicating a rise of 3,566 percent in the forecast period.

While Profit before Tax (PBT) is expected to also increase from N84.574 million in the five months ended May 31, 2008 to N40.677 billion in year 2011 showing an increase of 47,997 percent.

Profit after Tax (PAT) is to grow from N76.117 million in the five months ended May 31, 2008 to N32.541 billion in year 2011 representing a growth of 42,652 percent in the forecast period.

Proshare NI without prejudice as at the time of filling in this report has not contacted the officials of the company to clarify on the formula the company applied to make the above projection.

Nestoil is raising N44 billion through a Placement by offering 1.5 billion Ordinary shares of 50 Kobo each at N29.50 Kobo per share.

The units of sale are a minimum of 50,000 Ordinary Shares and multiples of 10,000 units of shares thereafter.

However, the company intends to preferentially allot a maximum of 37.5 million units amounting to N1.106 billion indicating about 2.5 percent of the Placement to members of staff of Nestoil.

The purpose of the offer as contained in the Placement Memorandum is that having identified several business opportunities in the Oil and Gas sectors of the Nigerian economy, Nestoil intends to expand its capacity, operations and market share.

The above would enable the company take advantage of local content policy in the Oil and Gas industry and the Cabotage Regime in the Maritime Sectors accruing to it as an indigenous operator.

Nestoil had affirmed and stated clearly that no application has been made to the Council of the Nigerian Stock Exchange (NSE) for the admission or either the shares on offer or the already issued shares of the company into the Daily Official List.

However, it also affirmed that it plans to seek quotation through listing by introduction on the Floors of the Exchange after the closure of the Placement.

The Placement which had commenced July 23, 2008 is expected to close August 29, 2008.

Joint Issuing Houses to the Placement include First Inland Capital Limited, Spring Capital Markets Limited, Unity Bank Plc and Value Capital Market limited.

[threecrown]

Originally Posted by hispy99

[Nestoil projects N2 dividend in 2011 FYE
Posted Saturday, August 9, 2008

-As N44 billion Placement still on

PETER OBIORA

Proshare NI

August 09, 2008 at 08:56 GMT

Nestoil Limited operating in the Oil/Gas and Maritime sector of the Nigerian economy has projected a N2.00 dividend payout to investors in its 2011 Financial Year End (FYE). This was contained in the Private Placement Memorandum made available to Proshare NI in Lagos Nigeria.

The company has projected to pay its investors a N1.00, N1.50 Kobo and N2.00 dividend payout in its years 2009, 2010 and 2011 FYE’s respectively.

Projected Turnover of the company is expected to rise from N2.0 billion in the five months ended May 31, 2008 to N75.816 billion in the year ending December 31, 2011. Indicating a rise of 3,566 percent in the forecast period.

While Profit before Tax (PBT) is expected to also increase from N84.574 million in the five months ended May 31, 2008 to N40.677 billion in year 2011 showing an increase of 47,997 percent.

Profit after Tax (PAT) is to grow from N76.117 million in the five months ended May 31, 2008 to N32.541 billion in year 2011 representing a growth of 42,652 percent in the forecast period.
Proshare NI without prejudice as at the time of filling in this report has not contacted the officials of the company to clarify on the formula the company applied to make the above projection.

Nestoil is raising N44 billion through a Placement by offering 1.5 billion Ordinary shares of 50 Kobo each at N29.50 Kobo per share.

The units of sale are a minimum of 50,000 Ordinary Shares and multiples of 10,000 units of shares thereafter.

However, the company intends to preferentially allot a maximum of 37.5 million units amounting to N1.106 billion indicating about 2.5 percent of the Placement to members of staff of Nestoil.

The purpose of the offer as contained in the Placement Memorandum is that having identified several business opportunities in the Oil and Gas sectors of the Nigerian economy, Nestoil intends to expand its capacity, operations and market share.

The above would enable the company take advantage of local content policy in the Oil and Gas industry and the Cabotage Regime in the Maritime Sectors accruing to it as an indigenous operator.

Nestoil had affirmed and stated clearly that no application has been made to the Council of the Nigerian Stock Exchange (NSE) for the admission or either the shares on offer or the already issued shares of the company into the Daily Official List.

However, it also affirmed that it plans to seek quotation through listing by introduction on the Floors of the Exchange after the closure of the Placement.

The Placement which had commenced July 23, 2008 is expected to close August 29, 2008.

Joint Issuing Houses to the Placement include First Inland Capital Limited, Spring Capital Markets Limited, Unity Bank Plc and Value Capital Market limited.

Is this projection possible?

[hispy99]

Originally Posted by threecrown

Is this projection possible?

Your guess is as good as mine, but let us see the prospectus first.

[BLUEMONEY]

Originally Posted by threecrown

Is this projection possible?

[QUOTE=hispy99;Your guess is as good as mine, but let us see the prospectus first.



I dont know why this Oil companies doing PP like to make projections they cant Achieve at the said time. when i saw the Projected figures, i remembered the Geo Fluid PP and thier figures.

Well like hispy99, i am also waiting for the propectus before making my final conclusion. I just hope it is convincing enough unlike Geo Fluid.