ositadima1:


How much of it is utilized by operations? Here, I mean the surrounding oil processing plants owned by the company.

The Dangote Refinery in Nigeria has an installed power generation capacity of 435 megawatts (MW).

megawealth01:


The name UNITY will be retained as for the restructuring Mr Time will attend to that...

CBN will most likely have a strict oversight of the bank which is a huge plus for the shareholders and stakeholders

For branding sake, I don't think the name Unity will be retained

emmanuelewumi:



For branding sake, I don't think the name Unity will be retained

I handover that to Mr Time

megawealth01:


Use STB and UBA as case study... Tony was STB you know?

In UBA and STB, non of the two was having a negative equity.
Unity bank currently has a negative equity which the cbn has to cover.

debeey87:
Okpai and kwale can't use over 500MW of electricity as they are a small community. I don't know about the installed capacity at the Ebocha center.

Ok so where is the generated power going if not the national grid? Oyibo doesn't do zero work. They will not install that much capacity if they are not using it.

ositadima1:
There's no need for emotional outbursts. I'm just contributing my own opinion, since Oando covers more than 70% of every page here.

Unless you don't want me to comment again.

But the engagements have been civil and I can’t see anyone coming after you. Or you just want to drop points and expect no one to respond?

emmanuelewumi:


They have the first claim to the asset of the business.

The bone of contention is assuming the total asset of a business belongs to the business without considering the banks and other financiers who have input to the totsl asset, what belongs to the business is the net asset which you will get after subtracting the total liabilities

Please don't confuse things.

The banks would only have claim to the assets of Oando if Oando is being liquidated and its assets are to be sold or realized to pay creditors.
The question is: is Oando being liquidated and its assets being sold or realized to pay creditor at the moment? Definitely no.

So that issue does not arise.

All Oando needs to do is generate enough revenue and cash flow to pay the interest and principal according to the loan agreement. Finish!
The banks cannot do anything to the assets unless Oando defaults or it is being wound up.

Raider76:


Ok so where is the generated power going if not the national grid? Oyibo doesn't do zero work. They will not install that much capacity if they are not using it.

Background
It is also called Okpai power plant, Kwale-Okpai Independent Power Plant, Kwale Powerplant or the Kwale IPP[10][11]. The phase 2 expansion is also called Okpai Phase 2, Kwale IPP Phase II[10] and Okpai Phase II Independent Power Project (IPP),[12] depending upon which company is talking about it.[13]

Phase 1 of the plant was commissioned in 2005.[12] In 2017 Oando Plc secured the Nigerian federal government’s approval for an expansion, essentially doubling the plant's size.[14][15][16]

Oando reported spending on $17.5 million on capital expenditures on Kwale IPP Phase II in 2017,[10] indicating construction had begun.

Over the years, Oando has faced serious financial issues that came to a head in mid-2019 when Nigeria's Securities and Exchange Commission (SEC) ordered Oando's entire board to resign.[17]

The plant's commissioning was delayed to Q3 of 2019[18], however even post-commissioning in 2020 power was not being sent to the grid

mikeapollo:


Please don't confuse things.

The banks would only have claim to the assets of Oando if Oando is being liquidated and its assets are to be sold or realized to pay creditors.
The question is: is Oando being liquidated and its assets being sold or realized to pay creditor at the moment? Definitely no.

So that issue does not arise.

All Oando needs to do is generate enough revenue and cash flow to pay the interest and principal according to the loan agreement. Finish!
The banks cannot do anything to the assets unless Oando defaults or it is being wound up.

What led to this was the guy who gave a valuation based on the total asset.


Can you please help us with the current net asset after subtracting all the current liabilities from the total asset based on the last reported financial report of the company.


Thank you

Laso09:


In UBA and STB, non of the two was having a negative equity.
Unity bank currently has a negative equity which the cbn has to cover.

Unity Bank will set a new track record... They have wider presence/coverage and CBN will take advantage of that...

It's a new dawn

ositadima1:
There's no need for emotional outbursts. I'm just contributing my own opinion, since Oando covers more than 70% of every page here.

Unless you don't want me to comment again.

Allow us get to our $1 peacefully... We don't want pullback oooooo

We must keep doing 10% daily without anyone hating us.

We have Presidential backing so anything can happen

Laso09:


Background
It is also called Okpai power plant, Kwale-Okpai Independent Power Plant, Kwale Powerplant or the Kwale IPP[10][11]. The phase 2 expansion is also called Okpai Phase 2, Kwale IPP Phase II[10] and Okpai Phase II Independent Power Project (IPP),[12] depending upon which company is talking about it.[13]

Phase 1 of the plant was commissioned in 2005.[12] In 2017 Oando Plc secured the Nigerian federal government’s approval for an expansion, essentially doubling the plant's size.[14][15][16]

Oando reported spending on $17.5 million on capital expenditures on Kwale IPP Phase II in 2017,[10] indicating construction had begun.

Over the years, Oando has faced serious financial issues that came to a head in mid-2019 when Nigeria's Securities and Exchange Commission (SEC) ordered Oando's entire board to resign.[17]

The plant's commissioning was delayed to Q3 of 2019[18], however even post-commissioning in 2020 power was not being sent to the grid

Thanks so much for your clarification. But please be patient with me as I am now having more questions. Is my understanding correct that this is a single power plant initially built by the FGN under the IPP projects of OBJ, which was then purchased and expanded by Oando? If so how did Eni come into the picture?

Zagee:


I hope you know there was a shares split in between which later spiked? Just pointing this out.

Okay that's an aspect I didn't factor in...I just checked that and men considering the level of splitting yes indeed I stand corrected o. 1m turned 500m within 4 years! Wow!

Streetinvestor2:
Can you share the link.What was transcorp power PAT since they have the same capacity. Is the oando power plant linked to the national grid. All my questions here are for sincere purposes because I don't have idea about them

Constructive criticism is welcomed..

Concerning the Okpai Power plant..As at March 2024:

Yes, 480MW has been connected to Grid.( ABJ, Anambra n Enugu,etc...)
As for the upgraded MW,
No, I don't think it's been connected yet due to no fault of the power Plant but the TCN.
132kv Transmission line needed for evacuation of the power supply hasn't been constructed yet(Punch: March 2024).

Link:
https://punchng.com/senate-probes-delay-in-power-distribution-to-delta-communities/#google_vignette

Top contenders for NNPC proposed sale of refineries to private operators are;
Oando: Power of presidential incumbency.
Transcorp/UBA/UCAP: Anything Tony Elumelu due to his association with BAT.
BUA: He would have gotten it but he is building his own.

I am taking a starter in these companies before new break.... Nothing guaranteed
Any other company you think?
Do your due diligence folks.


The Nigerian National Petroleum Company Limited has stated plans to engage reputable operations and maintenance companies for the Warri Refining and Petrochemical Company and the Kaduna Refining and Petrochemical Company.

The NNPC, in a notice on its website, said this was to ensure reliability and sustainability to meet the nation’s fuel supply and energy security obligations.
https://punchng.com/nnpc-to-hand-over-warri-kaduna-refineries-to-private-operators/


Chairman of Heirs Holdings, Tony Elumelu, has accused former President Muhammadu Buhari of blocking his bid to acquire an oil field.

He revealed this in an interview with the Financial Times, highlighting a contentious decision made by the previous administration.
https://www.vanguardngr.com/2024/08/how-buhari-blocked-my-bid-to-purchase-oil-field-elumelu/

brotherly:
If you have Oando , dont allow over analysis make you panic o.

Geregu: Generates 435 megawatts (MW) of power. 2.5 billion Shares are valued at 900 naira each.
Transcorp Power: Generates 950 MW of power. 7.5 billion Shares are valued at 336 naira each.
Oando: Generates 960 MW of power. 12.5billion Shares are valued at 76.95 naira each.

we have not even spoken about oil and Gas output which matches that of Seplat

All of them have loans. There's no need to single out Oando for this.

Thanks....we move $1k

brotherly:
If you have Oando , dont allow over analysis make you panic o.

Geregu: Generates 435 megawatts (MW) of power. 2.5 billion Shares are valued at 900 naira each.
Transcorp Power: Generates 950 MW of power. 7.5 billion Shares are valued at 336 naira each.
Oando: Generates 960 MW of power. 12.5billion Shares are valued at 76.95 naira each.

we have not even spoken about oil and Gas output which matches that of Seplat

All of them have loans. There's no need to single out Oando for this.

With this acquisition, Oando's interest in the Kwale-Okpai power plants (Phases 1 & 2) has increased to 40%. These plants have a combined nameplate capacity of 960 MW, but only 384 MW of this capacity is attributable to Oando based on their 40% stake.

I am the equalizer of the Oando positive sentiments. It's a tough job, but it has to be done.

chimex38:


Constructive criticism is welcomed..

Concerning the Okpai Power plant..As at March 2024:

Yes, 480MW has been connected to Grid.( ABJ, Anambra n Enugu,etc...)
As for the upgraded MW,
No, I don't think it's been connected yet due to no fault of the power Plant but the TCN.
132kv Transmission line needed for evacuation of the power supply hasn't been constructed yet(Punch: March 2024).

Link:
https://punchng.com/senate-probes-delay-in-power-distribution-to-delta-communities/#google_vignette

The bolded may not be correct. Just talked with an Engineer at TCN and he categorically said that Okpai is NOT yet connected to the grid. There are engineering foundation, access, security and contractual issues to resolve before the necessary systems needed to evacuate the power can be constructed.

Please don't take this as being -ve. Just trying to learn the actual position from sources I know. I believe whatever problems are preventing the project can be resolved by Oando given their connections.

Raider76:


The bolded may not be correct. Just talked with an Engineer at TCN and he categorically said that Okpai is NOT yet connected to the grid. There are engineering foundation, access, security and contractual issues to resolve before the necessary systems needed to evaluate the power can be constructed.

Please don't take this as being -ve. Just trying to learn the actual position from sources I know. I believe whatever problems are preventing the project can be resolved by Oando given their connections.

The Okpai Power Plant, officially known as the Okpai Independent Power Plant (IPP), is one of Nigeria's key power generation facilities. It is located in Okpai, Ndokwa East Local Government Area of Delta State, Nigeria.

Here’s a detailed overview of the plant:

Background and Ownership: The Okpai Power Plant was a joint venture between the Nigerian National Petroleum Corporation (NNPC) and Nigeria Agip Oil Company (NAOC), which is a subsidiary of the Italian energy giant Eni.

Commissioning: The plant was initially commissioned in 2005 and marked as one of the significant milestones in Nigeria's efforts to boost electricity generation.

Technical SpecificationsType: Combined Cycle Gas Turbine (CCGT) Power Plant.
Capacity: The plant has a generating capacity of approximately 480 megawatts (MW) from its original setup. There was an expansion (Okpai Phase 2) that added an additional 500 MW capacity, bringing the total capacity to nearly 1000 MW.

Fuel Source: The plant is gas-fired, utilizing natural gas extracted from the Okpai field and other nearby gas fields. Copied.

The marketing/praise singing of my betnaija stock oando is going to take a new dimension this week.It will no longer be about oil and gas ,agip deal.It is going to be about power generation like transcorp power and otedola power plants. It is well..
Then next two weeks it will be about oando aiming to buy iron condemned called refinery. This is a company that is on the ground in all parameters because of debt.

This is how my lB now has 160B OS because of recapitalisation because of negative shareholders fund.The same thing is happening in NB.

I swear make owner dey fear God in this thread because you want to make money .What makes you different from the bad politicians you are quick to point fingers .You know the only truth behind your post is to get the price so high that you can sell and get out.I hope you can do good to be showing your buy receipt from tomorrow to justify your calls

WITH INCREASING BUYING PRESSURE, CWG PRICE SEEMS READY FOR THE UPSIDE MOVEMENT
We saw CWG making another rejection at the support level last week, and with increase in buying pressure, the stock price looks ready to start moving up.

PLAN YOUR TRADES AND TRADE YOUR PLANS

Oando, UBA and UCAP.
Mop up if you have the capacity

megawealth01:


Allow us get to our $1 peacefully... We don't want pullback oooooo

We must keep doing 10% daily without anyone hating us.

We have Presidential backing so anything can happen

Most folks underestimate the Presidency and power play.....

Esp in Naija...

All forces will align .... by fire or by force

ojeysky:


Okay that's an aspect I didn't factor in...I just checked that and men considering the level of splitting yes indeed I stand corrected o. 1m turned 500m within 4 years! Wow!

People have done this(by the same factor) in the last 4 years also on NGX.

Streetinvestor2:
The marketing/praise singing of my betnaija stock oando is going to take a new dimension this week.It will no longer be about oil and gas ,agip deal.It is going to be about power generation like transcorp power and otedola power plants. It is well..
Then next two weeks it will be about oando aiming to buy iron condemned called refinery. This is a company that is on the ground in all parameters because of debt.

This is how my lB now has 160B OS because of recapitalisation because of negative shareholders fund.The same thing is happening in NB.

I swear make owner dey fear God in this thread because you want to make money .What makes you different from the bad politicians you are quick to point fingers .You know the only truth behind your post is to get the price so high that you can sell and get out.I hope you can do good to be showing your buy receipt from tomorrow to justify your calls

When will you stop this hate speech? This is a new month ooooooo.


By the way I am yet to get the net asset of the company

ositadima1:
I am the equalizer of the Oando positive sentiments. It's a tough job, but it has to be done.

Na you give yourself work na. too early to complain say the work hard

Please provide reference showing Agip controlled 40% of the kwale-okpai power plant.

Raider76:


The bolded may not be correct. Just talked with an Engineer at TCN and he categorically said that Okpai is NOT yet connected to the grid. There are engineering foundation, access, security and contractual issues to resolve before the necessary systems needed to evaluate the power can be constructed.

Please don't take this as being -ve. Just trying to learn the actual position from sources I know. I believe whatever problems are preventing the project can be resolved by Oando given their connections.

Thank you for the Real time update..#much appreciated.

Nevertheless, the Okpai plant is in 2 phases:1 and 2.

Just to be clear Sir:
Are you certain it's the entire Power plant not currently connected to the Grid or just the phase 2 that's not connected as stated on the punch article?
Thanks for the effort to update the group..

As for your second paragraph..
No harm done..
There nothing like negativity or badbelle, when there is a constructive criticism towards a stock and it's worth considering or giving a real time info.
Same goes for positivity or "goodbelle" , when there is a constructive praise towards a stock worth considering.

If the thread is monotonous, it won't serve the purpose of having a diverse group of people.

Willie2015:


Most folks underestimate the Presidency and power play.....

Esp in Naija...

All forces will align .... by fire or by force

Oando must enter $1 by fire by thunder ⚡

ositadima1:
I am the equalizer of the Oando positive sentiments. It's a tough job, but it has to be done.

You are our number one hater