Equator Exploration Share Discussion Threads

[whowants2bamilionare] 06/1/2018 11:06

FBI are investigating the Clinton Foundation.



I seem to remember Oando also had some dealings with the Clinton Foundation!!!

Donald's sweet revenge on Hilary...........???

[wantmorethan24p] 05/1/2018 19:47

we would be trading around 30p if it was listed

[wantmorethan24p] 05/1/2018 19:08

oilers looking good.
pity we cannot join in the rally as suspended.

[whowants2bamilionare] 05/1/2018 18:14

‘Oando’s forensic audit to commence this month’

Posted on January 4, 2018 by


There is no going back on the forensic audit of Oando Plc, the Acting Director-General of the Securities and Exchange Commission (SEC), Mr. Abdul Zubair, has said.

Speaking at a press briefing in Abuja on Tuesday, Zubair said the audit was delayed due to legal challenges, but which have now been cleared.
He said: “SEC as a law abiding corporate entity has been a little bit careful. We gave directives that the audit should go on and we still stand by that. There is no going back on the forensic audit.
“But we had a little challenge down the line because the matter went to court, and as responsible citizens, we had to wait but now that the court has ruled, the auditors have sent out words that they will continue the audit this January. As far as we are concerned there is no going back.”

Oando’s shares were placed on suspension by the Nigerian Stock Exchange (NSE) on October 19, 2017. The suspension followed an October 18 directive by SEC. Similarly, the Johannesburg Stock Exchange, following an advice from the Nigerian bourse, also suspended the embattled oil firm on October 19, 2017.

In a letter sent by SEC to the company, the commission said there were cases of alleged series of infractions against the management of the oil company.

[muto] 05/1/2018 13:32

I am happy knowing people in the background are doing their very best against very difficult odds, and all for nothing. So, instead of knocking all the time, maybe a thanks here and there would not go amiss.

[geordieduke2] 04/1/2018 14:22

That's right muto, still complaining, it might be better if more were. So the 10 years of saying and doing nothing, how is that plan working out?

[strummerjon] 04/1/2018 08:48

It allows people who have been ripped off and lied to for years to express their frustrations.....which is substantially more than has been achieved anywhere else!

[beeks of arabia] 03/1/2018 17:56

Why, what has been achieved by whining on here?

[strummerjon] 03/1/2018 17:45

Hmmm?
I’m beginning to suspect you would like us all to just go away quietly......

[muto] 03/1/2018 16:57

3rd day into the new year and ole misery guts starts the exact repeats of previous years posts.

[wantmorethan24p] 03/1/2018 14:59

oil price keeps rising.the assets must be worth a bit.
they wanted to talk at $60 but its $67 now.

[geordieduke2] 28/12/2017 14:26

So much for Jeanie's make-believe with fairies coming to save the day for Christmas. It bought a few more weeks of false hope and the long fraud carries on into 2018 but feel warm inside when thinking of the cheer and wonderful life that your money has given to Dimmock, the Rand family, Peak and those nice guys in Oando, so at least your lives had some purpose.

[wantmorethan24p] 23/12/2017 17:05

10 more left.

[cromw3ll] 18/12/2017 13:17

Another year ticks by and still no resolution or a sniff of a satisfactory end to this nightmare.

[geordieduke2] 18/12/2017 12:56

Did the hearing get delayed for a couple of months?

[geordieduke2] 08/12/2017 19:52

Instead of all the dodgy deals, back-stabbing, scams and sub-plots, if only these con artists spent the same effort on getting something out of the ground instead

[whowants2bamilionare] 08/12/2017 16:01

hxxps://www.vanguardngr.com/2017/12/sec-oandos-shareholders-seek-adeosuns-sack-within-7-days/


SEC: Oando’s shareholders seek Adeosun’s sack within 7 days On December 7, 20175:39 pm

Oando’s Nigeria Plc Shareholders under the aegis of Trusted Shareholders’ Association have issued 7 days ultimatum to the Minister of Finance, Mrs. Kemi Adeosun within which to resign her position, alleging a breach of public trust and confidence.

The shareholders also asked President Muhammadu Buhari to immediately sack the Minister should she decline the call for resignation within the stipulated period. Alleging sundry allegations of complicity and compromise in the forensic auditing of the Oando accounts against Adeosun, the Association said that the Minister deliberately suspended the Director-General of Security and Exchange Commission, SEC, Munir Gwarzo to stop the process.

Reading a text titled “Illegal and Undue Interference in the Forensic Audit of Oando Nigeria Plc by Mrs. Kemi Adeosun, the Minister of Finance” etc etc

[whowants2bamilionare] 07/12/2017 22:57

Old news but an interesting read as it explains who now (apparently!) owns Oando.

No doubt the Forensic Audit should be able to confirm this.......

One of the founders and majority shareholder of Intels Nigeria Limited, operator of the oil and gas logistics terminals in Onne, Rivers State and Warri, Delta State, Gabriele Volpi, has stepped up his battle against the group chief executive officer of Oando Plc, Wale Tinubu, over control of Oando, citing alleged mismanagement, cooked books and huge debts, THISDAY has learnt.

Accordingly, Ansbury Investments Inc., a firm set up by Volpi, a multi-billionaire who holds dual Italian and Nigerian citizenship, with extensive interests in oil and gas, ports logistic services and real estate spanning 40 years in Nigeria, has written a petition to the Securities and Exchange Commission (SEC) and is seeking to stop Oando from holding its Annual General Meeting (AGM) slated to take place in Uyo, Akwa Ibom State on September 11.

He is also pushing for the removal of Tinubu and his deputy, Mr. Omamafe Boyo, over their inability to repay an $80 million loan, which he lent them.

However, Oando has pushed back on the allegations, with a senior official in the company informing THISDAY that Oando's AGM would go ahead as planned and accused Volpi of resorting to blackmail in order to force Tinubu and his deputy to buyout Ansbury.

In 2012, Volpi had through his company, Ansbury, invested about $700 million in Ocean and Oil Development Partners Limited (OODP BVI), a special purpose vehicle registered in the British Virgin Islands, by acquiring a 61.9 per cent stake in the firm, while a company owned by Tinubu, Withmore Limited, held 38.10 per cent of the stake in OODP BVI.

Volpi, who also has extensive business interests in Angola, is alleging that he lent $80 million to Withmore to enable Tinubu, whom he said he trusted at the time, to acquire the 38.10 per cent stake in OODP BVI.

Tinubu had approached Volpi to invest in the British Virgin Islands-registered firm when Oando Plc was seeking to acquire ConocoPhillips' upstream oil and gas assets in Nigeria for $1.5 billion, a deal eventually consummated in 2014.

OODP BVI, in turn, owns 99.99 per cent of the shares of Ocean and Oil Development Partners Nigeria Limited (OODP Nigeria), which holds 55.96 per cent of the shares in Oando Plc, the oil and gas company listed on Nigerian and Johannesburg Stock Exchanges.

THISDAY gathered that the grievances of Ansbury, which is now claiming to own 100 per cent of the shares of OODP BVI and 99.99 per cent of OODP Nigeria over Withmore's inability to repay the $80 million loan, effectively whittling down Tinubu and Boyo's interest in Oando Plc to 1.2 per cent, stemmed from the alleged mismanagement of the company by Tinubu and Boyo.

Ansbury, it was also learnt, is said to be alarmed over the alleged "huge financial mismanagement, very high debt and cooked books" of Oando.

[geordieduke2] 06/12/2017 10:50

2LB5 Dec '17 - 21:25 - 64827 of 64829

Have no fear, Jeanie assures that positive thoughts will ensure a Happy Christmas. This is that make-believe time of year when the angels and fairies are out to make everything wonderful. At least until the January reality hits.

[kidcop] 05/12/2017 22:12

Evening cyber warriors.