Omooloriredade:


Hence the reason as stated "should have been reported as".

I see you don't like to be corrected.

Omooloriredade:


I tried to research if there was any legal basis for that but found nothing to support it. Some articles seems to suggest the NNPC sort a waiver in case they wanted a third party participant or investor in the future. Why would the NNPC seek such waiver? Could they be saving the 10% for a third party (if true).

Anyway, I couldn't tell ya what happened there so let me just stop with the speculation.

ositadima1:


Mister..., Seplat did not achieve a 300% return in any recent years. It opened this year at 2,310 and closed yesterday at 4,513.4, for a 195% return (R+1). The returns for previous years were 210% in 2023, 169% (R+1) in 2022, and 161% (R+1) in 2021.

unite4real:
In a sane clime, Zenith Bank stocks price is supposed to take a hit after having 4 days of downtime and trapped funds.

Omooloriredade:


Good attempt but unfortunately GROSSLY inaccurate.

* Peak Oil production was not 100,000bbls/day. Should have been reported as 100,000BOE/day. Also, Peak production can't be used for forecasting.
* Based on point above re BOE, you can't multiply this figure by $76 (the price of oil).
* Gas production figure is wrong. Don't know where that came from. Oando produced c. 31,912,680 MMBtu of gas in 2023.
* Average realised price of gas in 2023 was about $2 per MMBtu. Note - Futures contracts are usually used hedge commodity price risk.
* Your annual revenue was therefore grossly overstated which throws off the rest of your calculations.

However, I commend you for this intellectual exercise.

Things to note:

Gas:
1000Scf = 1Mcf
1000Mcf = 1MMcf
1000MMcf = 1Bcf
1000Bcf = 1Tcf

BOE (Barrel of OIL Equivalent)
1BOE = 6000Scf or 6Mcf or 5.8MMBtu (approx 6MMBtu)

Oil
1BOE = 1bbl (basically oil quantity needs no conversion. Unlike gas and NGLs, what you get is what it is)

So when an Upstream company reports production numbers, they usually refer to BOE to capture Oil, Natural Gas and Natural Gas liquids. Also, you would often see Oil companies qualify an oil well or OML by the proportion of Oil it produces e.g OML ABC producing 70% Oil (that is the % of oil in the BOE).

ositadima1:
All this over sabi people that can't read.

Payunsin:

The money we made from Oando is peace of a lifetime if judiciously used.

Nataba:
Equity market drops 1.19% amid sell-offs in dangote cement, 27 others

https://businesspost.ng/economy/equity-market-drops-1-19-amid-sell-offs-in-dangote-cement-27-others/

mikeapollo:


SEPLAT is moving oooo!
None of the upstream oil and gas companies should be ignored. The govt will push them because it needs money. Aradel, Oando and Seplat should be watched closely

Omooloriredade:


Production costs per BOE based on AUDITED 2023 annual reports:

Seplat - $10.4/BOE
Aradel - $21.0/bbls (Reported in bbls so refinery costs included. About 33% of crude produced feeds their refinery)
Oando - TBC

This is the fact of actual production cost. However, there are other taxes and royalties that apply in Oil & Gas production which is technically not included in determining cost of production. It is an industry standard the world over. It is technically incorrect to sum up all taxes, royalties to determine the cost of production.

As for Nigeria's interest in JV especially share of production, the country has the RIGHT for up to 60% as per the PIA.

https://www.morganlewis.com/pubs/2021/12/nigeria-overhauls-its-oil-and-gas-laws-with-petroleum-industry-act

Omooloriredade:


Good attempt but unfortunately GROSSLY inaccurate.

* Peak Oil production was not 100,000bbls/day. Should have been reported as 100,000BOE/day. Also, Peak production can't be used for forecasting.
* Based on point above re BOE, you can't multiply this figure by $76 (the price of oil).
* Gas production figure is wrong. Don't know where that came from. Oando produced c. 31,912,680 MMBtu of gas in 2023.
* Average realised price of gas in 2023 was about $2 per MMBtu. Note - Futures contracts are usually used hedge commodity price risk.
* Your annual revenue was therefore grossly overstated which throws off the rest of your calculations.

However, I commend you for this intellectual exercise.

Things to note:

Gas:
1000Scf = 1Mcf
1000Mcf = 1MMcf
1000MMcf = 1Bcf
1000Bcf = 1Tcf

BOE (Barrel of OIL Equivalent)
1BOE = 6000Scf or 6Mcf or 5.8MMBtu (approx 6MMBtu)

Oil
1BOE = 1bbl (basically oil quantity needs no conversion. Unlike gas and NGLs, what you get is what it is)

So when an Upstream company reports production numbers, they usually refer to BOE to capture Oil, Natural Gas and Natural Gas liquids. Also, you would often see Oil companies qualify an oil well or OML by the proportion of Oil it produces e.g OML ABC producing 70% Oil (that is the % of oil in the BOE).

Streetinvestor2:
I don't think naija takes the lion share in the crude business based on agreement with foreign ioc i know.Thr percentage for ioc is usually higher than naija own because is them that brings the fund and equipment for the whole process. I think naira takes like 40% or even less.And I don't think Oando will be doing more than 50000 for now too

yMcy56:

Oga, you sure say you know the difference between emotions and facts?
You sure say you know the meaning of emotions at all? Lol.

You don't care if it gets to SEPLAT price?
If you jump in will you tell anybody? 😁
Self deceit is a crime against oneself......and possibly those who believes in you. 🤭

godlyguy:
One company seems to be doing yahoo oil

Be wise

mikeapollo:


Thanks, for the correction. I mistook Seplat for Mobil.

yMcy56:
OANDO

https://doclib.ngxgroup.com/Financial_NewsDocs/42260_OANDO_PLC-OANDO_PRESS_RELEASE__CORPORATE_ACTIONS_OCTOBER_2024.pdf

Tpharell:

To help you, NNPC did not take Seplat to court as they had no issue with them whatsoever, instead they took their JV partner Mobil to court and got the extra 10% stake in the JV as out of court settlement compromise, a reduction in the stake of incoming Seplat which had not originally been factored in the transaction and market pricing.

Its not even up for argument that the deal started and was approved back in 2022 by Buhari, and Seplat did experience relative bull around the time. My point is many investors have already priced the Mobil acquisition in the current pricing so don’t expect the sort of Oando raging bull. Nobody said anything about “Never”, but it definitely and certainly cannot be like Oando, i can guarantee that.

Finally, everyone that is a keen follower of Seplat as I am knows the deal is inching close to finalizing, the president himself confirmed it in his speech yesterday.

mikeapollo:


Never say never.
Seplat can still experience a bull when the Mobil deal is officially sealed and announced as completed.
Some people said similar things about the Oando-ENI deal, but we saw what happened to Oando share price when the deal was signed/announced in London.

About the approval, it was NNPC that took Seplat to court over the Mobil deal, and obtained court injunction which halted the process and caused the delay.
The parties just had an out-of-court settlement recently on 30 May 2024 and the NNPC withdrew the case from court. A compromise was reached with NNPC having 70% in the JV (instead of the usual 60%). Seplat therefore has 30%.

So the application for Seplat-Mobil transaction began officially in June 2024 ; the PIA provides that ministerial approval should be given within 120 days if all requirements are satisfied

BullBearMkt:

What is the mistake made bro?

Willie2015:


My CP for Seplat is below N1300...
I still have d capacity to increase my units...
I assure u it will clear N5k comfortably before fin yr end

Willie2015:


UCAP Research raised TP to N5000 plus

ogoo4real:


@yMcy56 welldone to the big guys. Seplat officially moved @4103.10

chimex38:

Exactly my submission.
Na For countries wey get 24hrs/day, Average of 300/360 days of electricity per year. Not Africa yet. even at that, I think to power Manufacturing Equipments to meet their high capacity and efficiency, you just need fossil fuel--Coal, diesel, petrol, Gas, kero, etc.

Rnewables of Solar, Wind, biowaste are niche specific and tailored to particular equipments..not flexible for dynamic situations.

Willie2015:


Bonus from where now...
After 4 times dividend in a year...
U too like money

Willie2015:


U dey worri urself too much..
D owners will move it when they are ready...
Ur own is to sit down dey look...
When it reach ur junction ..u sell..

vacanci:


No one to sell rather

emmanuelewumi:



I give up. I have always used Kunle, Tunde, Aminuband Musa in the past.


All the same, I no dey look Uche face

Seunn11:
O&O has achieved what no other indigenous oil and gas company has achieved.

Let's call it Uche, Segun, David, Babangida, Abidoshaker, Emmanuel, Mercy, Seun, etc.

More grace.

emmanuelewumi:



No record of free cash flow for Uche, infact he had to sell his Jeep, land and house in order to enhance liquidity yet his liabilities are more than his assets

He found out he could get cheaper loans from First Bank, so he got another loan from First Bank in order to settle Access Bank because those guys at Access are Badass

unite4real:
GEREGU has moved

N1,050 ********