Equator Exploration Share Discussion Threads

[whowants2bamilionare] 01/3/2017 19:05

Obviously the date of this Oando article (June 2017) is wrong, but interesting to read it again, a few years later on!

hxxp://www.oandoplc.com/media/oando-in-the-news/oando-says-may-buy-nigerian-oil-reserves-from-majors/

Carli Lourens
Published: 14 Jun, 2017

June 14 (Bloomberg) — Oando Plc, Nigeria’s largest retailer of petroleum products, said it is in talks to buy reserves holding as much as 4 billion barrels of oil-equivalent resources from some of the world’s largest energy companies.

Oando may acquire between 1 billion and 4 billion barrels of oil resources for a “ballpark value” of $2 billion, Chief Executive Officer Wale Tinubu told reporters in Johannesburg today. A transaction may be completed this year, he added.

The Lagos-based company is in talks with oil majors operating in Nigeria, which include Royal Dutch Shell Plc, Chevron Corp. and Eni SpA’s Agip Ltd., he said. Lagos-based Oando sells one in every five liters of petroleum products in Nigeria, according to its website.

Nigerian lawmakers are drafting a new petroleum-industry bill that Oando expects will force large oil companies to sell several billion barrels of oil reserves they don’t use. Nigeria will pass the new bill by August, Petroleum Minister Diezani Allison-Madueke said on May 27. Nigeria earns more than 80 percent of its government revenue from the sale of crude.

Oando, listed on exchanges in Nigeria and South Africa, said in April it plans to raise $500 million in a share sale and list its stock in London to fund expansion. Tinubu declined to comment on the listing, citing the pending application.

The company may sell a minority stake in its fuel-retailing unit by offering shares on the Nigerian exchange by the end of September, Tinubu said. The spinoff would allow the company to increase its focus on production, which is more profitable, he added. The market capitalization of the unit could be at least $500 million.

–Editors: Emily Bowers, Heather

and the fortunes of the Nigerian Petroleum Minister Diezani Allison Madueke seem to have also changed some what since the above article was written.............

hxxps://qz.com/#880155/nigerias-ex-oil-minister-will-have-to-give-up-153-million-in-stolen-cash/

[beeks of arabia] 26/2/2017 18:13

I'd more put it down to "the bigger fool" theory.

chortle

[fatfish] 26/2/2017 14:48

i'm sure losses can be carried indefinitely once declared

[moormoney] 26/2/2017 11:13

I think that needs checking. My understanding was there is a time limit of five years to offset losses. Quite possibly wrong though.

[digger2779] 26/2/2017 00:54

exile - if you have already disclosed your losses as part of your annual tax return then you just declare "this months" gain against your losses from previous years in this year's tax return and then carry forward a reduced loss for next tax year.
I have a running tally of losses which I declare with my annual return and if I am lucky enough to make a gain in excess of the threshold ( not happened yet) it can be offset against previous years. I don't think there is a time limit.

[exile] 25/2/2017 23:38

Does anyone know the timescale for when you can use a capital loss against a gain? For example if I lost 10k 3 years ago could I offset it against a gain I have made this month??

[2lb] 25/2/2017 11:36

HMRC issue their latest list of sticks that you can officially write off for CGT purposes in and June and I am reliably info that EEL will be on this list so you can officially class this as a write off.

[geordieduke2] 25/2/2017 11:00

If there is another conf call, can't we just ask them for a straight answer, yes or no, whether people have lost all their money and they have zero chance of any return in this? It was a Rand, Dimmock & co con from the start, to put it down as a life lesson and for everyone to go away reflect, learn and then get on with their lives? It's not like we even deserve anything given the eagerness of the capitulation.

[wantmorethan24p] 22/2/2017 10:46

i know its in Nigeria...thats why have decided to gamble.they paid no signature bonus..


2LB22 Feb '17 - 10:41 - 64112 of 64113 0 0
It's in Nigeria - what more do you possibly need to know

[wantmorethan24p] 22/2/2017 10:45

India�s Essar Group will soon hold a 100% stake in OPL 226 once it signs the final version of the production sharing contract (PSC). OPL 226 covers an area of 1,530 sq km and is located in the petroliferous Nigerian Continental Shelf in water depths of up to 200 meters. Essar Exploration & Production Ltd. Nigeria was awarded 100% ownership of the offshore block in the 2007 bidding round with a signature bonus payment of $37 million.






WOW

[2lb] 22/2/2017 10:41

It's in Nigeria - what more do you possibly need to know?

[wantmorethan24p] 22/2/2017 10:35

they own opl 226..how far is that from EELS nigeria assets.

[2lb] 22/2/2017 10:34

I sold my COPL the moment they announced they were going to focus on Nigeria......

[wantmorethan24p] 22/2/2017 10:22

copl looks a good bet on some nigeria news...


bought some this morning.
could easily treble if Nigeria news comes out.

[2lb] 21/2/2017 21:04

We are not suspended , we relinquished our listing years ago

[gunner71] 21/2/2017 17:49

10 YEARS WOW , Im Still taking my pills and still dreaming surely one day

[whowants2bamilionare] 21/2/2017 14:30

Any one any idea if we are heading for the Guinness World Record, as the longest ever suspended share on AIM?...............;¬)

[box3r] 21/2/2017 13:14

Been here 8 of them 9 years ! not even sure where the share Cert is now !!!

[fatfish] 21/2/2017 13:04

Well they could always change their minds and make it $70, talk to us, yer right

[wantmorethan24p] 21/2/2017 10:24

brent crude now $57.

[wantmorethan24p] 21/2/2017 10:21

remember what the management said


"we will only talk with the minorities until brent cude hits $60.."

well we could reach there soon.

[wantmorethan24p] 19/2/2017 09:38

its been 9 years...

come on MR K ..whats the latest..

i could do with some cash to buy more Genel Energy.

[wantmorethan24p] 17/2/2017 22:37

has it really been 11 years since EEL scam happened.???