OTCPK:MAUXF - Post by User
Comment by
BlindBat_1on Oct 22, 2012 1:57pm
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Post# 20510677
RE: RE: RE: RE: Oando puts a well on production cl
RE: RE: RE: RE: Oando puts a well on production cl
Radcat, I do not want to go back trough my posts but I think I mentioned that Oando was a pipeline partner some time ago. I knew about it anyway. Oando injects into the AGIP pipeline using the Umusadege entry point.
My understanding is that the largest shareholder of the pipeline will be the local Nigerian government just like the AGIP pipeline. Sun and MidWestern are in it but I have no idea of the % and we may have some other investors in addition to Oando.
BTW Oando and their parent company are loaded with debt.
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The parent is Oando and is a multi billion revenue generating company forecast to be about $3.5 Billion US dollars this year. Oando Energy is the new Company created through a RTO with Exile. As it pertains to DEBT, when Oando Energey ( OER), went through the RTO the parent company forgaved in excess of $500 Millions wort of debt, as such OER is floating technically with 60 some millions $ in their back pocket and little to no debt, or so it is said.
However very illiquid given that it does not really trade since the Parent owns 94 % of the shares, and many such as me, are awaiting for their first formal Quarterly report to get a true and clear picture of the financial condition of OER, for there is rumours galore, but conflicting documentations here and there. The light will shine on this topic very soon - touch wood they do a secondaru to raise cash and allow more participant to buy some shares, sure is one of interest in my book - if they do the secondary and the financials are clear and sustain growth.
Recent catalyst ( in my book) they booted Stan Bharti off the bord of directors !
Cheers