Post by
Obeahman on Jul 24, 2015 9:39pm
Is This Deal Going To Go Through?
I may sound very pessimistic but I believe that this deal is not going to go down. While I might to saying this, I would be very happy to see it come o a climax.
As I have said before, this deal is at the wrong time.
First, Midwestern could not get financing from Nigeria. Is that because of the change of government and the attitude that Ptesident Buhari has taken.
Here is an extract from a recent article in a Nigerian Newspaper:
"The National Economic Council, an advisory body chaired by the vice president that includes all the state governors, is reviewing the government’s oil revenue accounts, along with those of the state-owned Nigerian National Petroleum Corporation (NNPC). Recent revelations capped by the release of an international audit report point to some $18 billion of unaccounted-for NNPC revenue, and another $2 billion mysteriously drawn down from a federal account in the last few years. Because the states depend on oil revenue, the team of four governors leading the review is unlikely to let the powerful and opaque NNPC off easily.
Money is hard to come by in Nigeria now. Buhari has not installed a Cabinet nor has named any persons to any Ministeries. Everthing has to flow through him. His aim is to find all those "corrupt" persons and do not want to appoint corrupt persons, so as it seems. On the other hand maybe he is setting up a dictatorship.
The seconf point is and we all know this that Midwestern is sucking up up to someone in the Middle East. Financers are not stupid people. The price of oil is in a glut right now and the big boys are playing games with the prices. The frank question is to be asked, Would I finance a Oil take over now? What are the risks? Do I want to take this risk and if I take this risk, what are the consequences?
Are the Americans going to pump more oil?
The third point is the state of economy in Nigeria and the potential devaluation of the Nigerian Niara and coparing it to the US dollar?
Folks there are some many things to think about.
If the deal does not go through, is there another buyer? Speculation, speculation....however, is Mart going to be in trouble...they have got bills to pay....
Folks, with all that I have said, I hope that this deal goes through. I would have to lick my loses and get what I can get from Mart and move forward.
Comment by
Obeahman on Jul 25, 2015 12:53am
But does anyone have a guesstimate of how many shares Morgan purchased?
Comment by
freedom-1970 on Jul 25, 2015 10:30am
This year on market trades I added up 7.7 million , but they could use other systems and 01. But they could have way more from last year , it's very hard to predict. The buying over the last month and closing the tape ever day means they wanted to control the stock. Monday they will look like a genius or dummy..