NewStats: 3,263,935 , 8,181,950 topics. Date: Sunday, 08 June 2025 at 08:25 PM 6vi5u

KarlTom:
Dr Mike Adenuga owns about 25% of Silverlake Investments.
That takes his percentage holding in Sterling HoldCo to about 11.88% (5.63% direct + 6.25 indirect)

Thanks for the details and more insight.
I didn't know Dr. Mike Adenuga has a Stake in Silverlake.

However, with this, it means
Shareholding structure in Sterling Holding is:

Silverlake investment-->18.75%(25%-6.25%)

Dr. Mike Adenuga-->11.88%

Silverlake investment with 18.75% is still the Majority Shareholder(exclusive of Dr. Mike Adenuga).

Cc @Picky1

Good morning my people.
Una still dey para?
I kept vigil on oando so tee sleep carry me.Na now I dey wake up.
I don begin another monitoring of same result.
I reject another vigil today...
Oando your people are waiting.Answer them let them take some champion beer cool temper this weekend

Babygal2020:
Good morning fellow investors. So I have investment with Stanbic IBTC money market. I want t use FBN quest too. Please how do I go about it? Help a sister.

FBN quest is an investment arm for first bank Nigeria, you can use your google to found the closest one around you. Go with your nepa bill with current address not upto 3 months to recent month , Nin slips , one or two port, but before now know and choice your investment plan.

crownprince2017:


Nobody is claiming you don't know it but I have never seen the facts to back it except you saying it.

Should I believed what you say only when I know talk is cheap?

I didn't want to quote u but I am doing it for a reason.
You want fact since you claimed your friend went to the farm. I would like you to ask your friend about what quantity of palm fruits he saw on the farm
The biggest fact is in this particular agricultural business. Thr greatest asset is usually the biological assets..go and .
This biological assets grows in value annually till it gets to decline stage.Infact it grows in value as it increases in size and its peak is optimal fruiting stage.Why am I not seeing it in this farm based on the land size.The only justification is they have palm fruits but not in the quantity being claimed. The capacity of ellahlakes palm cultivated land is questionable based on this fact
Then based on revenue. They have the piggery section,palm fruits section etc.If this sections are all not yet yielding big revenue based on it
has not really gotten to that stage as claimed. That means the work force at this stage should be small as a farmer.So why such heavy bill for personal and istrative cost.The only cost which should be noticeable should be for security and few staffs managing the farm.Which being a business man should be within your revenue. Now you have to go look for money to pay wage/salaries/istrative bill

If they are only looking for money to invest in land,crops,machinery and other inputs it is understandable in that business.

Infact the money from yearly crops as serious farmers should be more than enough to pay labour bill after a year in any farm.You can be excused for the first yr as you are just starting.
Oga I farmed.The only time you can give excuses after first year is if your harvest was poor based on many reasons. This I don't expect from farm like ellahlakes because they have professional in the field who could for see such at early stage and advice for the needful. Unless the result of poor harvest is something beyond thr control like militancy/large scale theft. Which I have not seen them report. The rice,corn etc in essence should be taking care of wage/istrative cost with change left as profit.
What other fact do you want
We know when presco went into cocoa in calabar,I cannot the yr but ogg was saying it was going to make them over take okomu. While this was growing,the palm oil side sustained the bills.What other fact do u want

fashionnisir:

FBN quest is an investment arm for first bank Nigeria, you can use your google to found the closest one around you. Go with your nepa bill with current address not upto 3 months to recent month , Nin slips , one or two port, but before now know and choice your investment plan.

Thanks boss. But can't I fill the forms online just like that of Stanbic IBTC?

Streetinvestor2:
I didn't want to quote u but I am doing it for a reason.
You want fact since you claimed your friend went to the farm. I would like you to ask your friend about what quantity of palm fruits he saw on the farm
The biggest fact is in this particular agricultural business. Thr greatest asset is usually the biological assets..go and .
This biological assets grows in value annually till it gets to decline stage.Infact in grows in value as it increases in size and its pick at is optimal fruiting stage.Why am I not seeing it in this farm based on the land size.The only justification is they have palm fruits but not in the quantity being claimed. The capacity of ellahlakes is questionable based on this fact
Then based on revenue. They have the piggery section,palm fruits section etc.If this section ate not yet yielding big revenue based on it as not really gotten to that stage as claimed. That means the work force at this stage should be small as a farmer.So why such have bill for personal and istrative cost.The only cost which should be noticeable should be for security and few staffs managing the farm.Which being a business man should be within your revenue. Now you have to go look for money to pay salaries.In they are looking for money to invest in land,crops,machinery and other inputs it is understandable in that business.
Infact the money from yearly crops as serious farmers should be more than enough to pay labour bill after a year in any farm.You can be excused for the first yr as you are just starting.
Oga I farmed.The only time you can give excuses after first year is if your harvest was poor based on many reasons. This I don't expect from farm like ellahlakes because they have professional in the field who could for see such at early stage and advice for the needful. Unless the result of poor harvest is something beyond thr control like militancy/large scale theft. Which I have not seen them report. The rice,corn etc in essence should be taking care of wage/istrative cost with change left as profit.
What other fact do you want
Whe know when presco went into cocoa in calabar,I cannot the yr but ogg was saying it was going to make them over take okomu. While this was growing,the palm oil side sustained the bills.What other fact do u want

Just remove PLC and replace with LTD.
Even the LTD is too big for Ellah.
The right name should be Ellah & Sons enterprises

Wale in my place.They say is not right for someone to be behaving in an insulting name he/she is being called .You are falling our hand again. Make the result no today even if T dey your name.Your own auditors are not from another planet

Ive told you what is there already. You can’t give what you don’t have. A leopard cannot change his spots.
Wale does not mind delivering losses to you, when he has already sorted himself out via OPEX.
The business has its own objective, and the objective is not shareholders.

Streetinvestor2:
Wale in my place.They say is not right for someone to be behaving in an insulting name he/she is being called .You I falling our hand again. Make the result no today even if T dey your name

Sunrisepebble:
Ive told you what is there already. You can’t give what you don’t have. A leopard cannot change his spots.
Wale does not mind delivering losses to you, when he has already sorted himself out via OPEX.
The business has its own objective, and the objective is not shareholders.

Sorry I don't agree. If that is the main purpose. It has no business having dual listing The people who gave the loan are not the Nigerian type of bank who don't mind writing off the loan as bad loan.His relation will not be the president for ever. So at a point he will answer questions. Is the refinery he won the bid suppose to also be bringing out perpetual loss results in another country. It doesn't add up

Locotrader:


Just remove PLC and replace with LTD.
Even the LTD is too big for Ellah.
The right name should be Ellah & Sons enterprises

😀😃😁😅🤣🤣🤣🤣🤣🤣



Laughter is free. If know make money for stocks, at least make I laugh.

Streetinvestor2:
Sorry I don't agree. If that is the main purpose. It has no business having dual listing The people who gave the loan are not the Nigerian type of bank who don't mind writing off the loan as bad loan.His relation will not be the president for ever. So at a point he will answer questions. Is the refinery he won the bid suppose to also be bringing out perpetual loss results in another country. It doesn't add up

You sef don start your own defence of Oando

Wale go rob you palm oyel

If Oando file for bankruptcy, Wale go start another company from the fleecing of Oando over the years.

Japaul QD

Agbalowomeri:


You sef don start your own defence of Oando

Wale go rob you palm oyel

If Oando file for bankruptcy, Wale go start another company from the fleecing of Oando over the years.

He can only file for bankruptcy when na water dey come out from those well.Why are u guys not seeing the loan from international bank.Abi the money na dash to oando. Was the loan not expected to be paid back beside servicing it.If na so then we should not be worried for nigeria collecting as much loan as possible since it is not ment to be paid back..lol.
That means wale go still collect another loan as dey no dey pay back
I be street so if something no make sense I no dey agree.Do you know as it stands now.If Wale decide to delist and offer like #50.He will have his way and not be answerable to any shareholders.
So why do he want to remain listed is my question. The only answer is Wale want to enter the billionaire dollar club. And that is only achieved staying listed as the valuation matters based on share price of quoted company

Sunrisepebble:
Market whisper, not a buy or sell advice, I think UBA rights will not be less than N40 and the dividend for the year can hit N7

UBA appear destined for something great. They appear very ambitious (not Access kind of ambitious)

I’ve explained many times to you how they can still service and pay back their loans despite making losses.
They are dealing with crude oil, an international commodity, as long as they have crude and are producing no matter how much losses they make on the income statement they can still can access and service loans via RBL facilities.

It seems you have your set opinions on the business, so no matter what I say I don’t think you’d ever agree

Streetinvestor2:
Sorry I don't agree. If that is the main purpose. It has no business having dual listing The people who gave the loan are not the Nigerian type of bank who don't mind writing off the loan as bad loan.His relation will not be the president for ever. So at a point he will answer questions. Is the refinery he won the bid suppose to also be bringing out perpetual loss results in another country. It doesn't add up

Sunrisepebble:
I’ve explained many times to you how they can still service and pay back their loans despite making losses.
They are dealing with crude oil, an international commodity, as long as they have crude and are producing no matter how much losses they make on the income statement they can still can access and service loans via RBL facilities.

It seems you have your set opinions on the business, so no matter what I say I don’t think you’d ever agree

I will not accept. The money for debt payment is not deducted before profit declaration by firs standard. The government is not stupid. This is expanses you make after tax.Your profits/conversion of retained earnings
The guy who is selling 1 billion of aradel started selling after the share price manipulation from the other floor to nxg.He is off loading because they have manipulated the price to thr desired range of price to hammer .Now the guy has been offloading to Nigerians
So based on street sense why do you think Wale and partners will not prefer this lane than to be declaring loss..Do you know the kind money Wale and partners will make if they push Oando to like #300..
Do you see whr ote is today because he has pushed his power above #1k being majority shareholders. Tony has done it in the hotel and will definitely do it in uba and others.
The big game to this wolves now is ngx stock price by any means necessary. Even alhaji wanted to do it with the merger.
I will only run when I see another delisting game from wale.
We sabi when Tony dey use exemptionsl items finish uba.So why is he so interested in the share price of his companies going to the roof.Na the billionaire dollar club target be the new thing

Dear StreetInvestor2

I need to drop my 2cents on the perspective of Sunrisepebble.

RBL is the bane of OandO returning to profitability soon.
Why? Because the last time I checked, OandO has an estimated reserve of 1billion bboe.
Every, and any lender, will gladly offer loans based on these reserves (which are in-demand commodities).
We cannot blame OJT for trying to milk every available privilege during his uncle's tenure.

So where do shareholders find themselves? Somewhere in La La Land.

So, my advice is be prepared to wait until OJT and co have a change of heart else...

PS: I am very keen and vested in O&G

KarlTom:
Dear StreetInvestor2

I need to drop my 2cents on the perspective of Sunrisepebble.

RBL is the bane of OandO returning to profitability soon.
Why? Because the last time I checked, OandO has an estimated reserve of 1billion bboe.
Every, and any lender, will gladly offer loans based on these reserves (which are in-demand commodities).
We cannot blame OJT for trying to milk every available privilege during his uncle's tenure.

So where do shareholders find themselves? Somewhere in La La Land.

So, my advice is be prepared to wait until OJT and co have a change of heart else...

PS: I am very keen and vested in O&G

let me understand the ing practices here.Are you saying as you sell the crude. You remove money pay back loan.Not talking for debt servicing before preparing your annual results being sent to tax authorities or government regulator.Is this only applicable in this sector. That means
na watin you like you tell government so that you invade appropriate tax from money realized.
IIs this how aredel and seplet equally prepare thr own financials.
If na so as businessman I no suppose dey pay tax as I dey always owe.So I go use that style finish the whole money .
Then why whr people insinuating before that wale will come to market to raise funds to free the company from debt burden
And what happens when they offset the loan via this means after some yrs.Will they continue to declare loss too.

Make I free OandO matter. IB no give this kind head ache way I get in better quantity

Streetinvestor2:
let me understand the ing practices here.Are you saying as you sell the crude. You remove money pay back loan.Not talking for debt servicing before preparing your annual results being sent to tax authorities or government regulator.Is this only applicable in this sector. That means
na watin you like you tell government so that you invade appropriate tax from money realized.
IIs this how aredel and seplet equally prepare thr own financials.
If na so as businessman I no suppose dey pay tax as I dey always owe.So I go use that style finish the whole money .
Then why whr people insinuating before that wale will come to market to raise funds to free the company from debt burden
And what happens when they offset the loan via this means after some yrs.Will they continue to declare loss too.

Make I free OandO matter. IB no give this kind head ache way I get in better quantity

According to chatgpt, reserve based lending implies oando can borrow against its reserve. So as they produce, they settle their lender first. If RBL is how they got funding, Sunrise position is correct. However one also has to understand how much of the production is pledged to repayment knowing that oando still has other debt obligations to pay asides this most recent loan.

Your business is different in that you don't have a reserve unlike producing companies which your lenders can place valuation on to determine how much you can be borrowed

The loan is backed by [and repayed with] crude. The loan usually specifies a base amount (benchnark price) for a barrel of crude which will determine the number of barrels that will be repayed (this figure is not public knowledge).

Major debts include:
1. RBL to finance the NAOC acquisition.
2. Project Gazelle 1 & 2.

Profit is calculated AFTER all deductions including debt servicing (usually tagged finance costs).

Streetinvestor2:
let me understand the ing practices here.Are you saying as you sell the crude. You remove money pay back loan.Not talking for debt servicing before preparing your annual results being sent to tax authorities or government regulator.Is this only applicable in this sector. That means
na watin you like you tell government so that you invade appropriate tax from money realized.
IIs this how aredel and seplet equally prepare thr own financials.
If na so as businessman I no suppose dey pay tax as I dey always owe.So I go use that style finish the whole money .
Then why whr people insinuating before that wale will come to market to raise funds to free the company from debt burden

Reserve-Based Lending (RBL) is a form of secured financing used primarily in the oil and gas industry, where a company borrows money using the value of its proven oil and gas reserves as collateral.

🔍 How Reserve-Based Lending Works:
Collateral:

The borrower pledges its proved oil and gas reserves (typically P1 reserves – proven and producing) as security.

These reserves are valued by independent engineers or consultants using expected production and future commodity prices.

Borrowing Base:

Lenders calculate a borrowing base—a maximum amount the company can draw—based on:

Volume of reserves

Oil/gas prices (discounted/future)

Operating costs

Field decline rates

This base is re-determined semi-annually (sometimes quarterly) to reflect changes in prices and production.

Loan Structure:

Usually structured as a revolving credit facility, allowing the borrower to draw, repay, and redraw funds within a certain limit.

The borrowing base can go up or down based on market or reserve conditions.

💸 How Debtors (Borrowers) Pay Creditors (Lenders):
Repayment is usually tied directly to the cash flows generated from oil and gas production:

1. Scheduled Repayments:
Regular interest and principal payments are made based on an agreed schedule.

Payments may be monthly or quarterly, depending on the loan agreement.

2. Cash Sweeps:
If revenue exceeds certain thresholds, excess cash may be used to prepay the loan automatically.

This reduces the risk for lenders, especially if oil prices drop later.

3. Borrowing Base Redeterminations:
If the borrowing base drops below the current outstanding debt (e.g., due to falling oil prices or lower production), the borrower must:

Repay the excess (immediate or over a short grace period), or

Provide additional collateral, or

Re-negotiate with the lender.

4. Hedging Requirements:
Many RBL facilities require borrowers to hedge a portion of their future production.

This helps ensure that the borrower has predictable cash flows to meet debt obligations even if oil/gas prices drop.

✅ Benefits for Borrowers:
Access to larger capital based on reserves, not just revenue or assets.

Flexible drawdown and repayment.

Encourages disciplined capital investment tied to production.

⚠️ Risks:
Highly sensitive to commodity prices.

Borrowers may face margin calls or forced repayments if reserves are revalued down.

Can restrict growth or investment if cash flows are mostly used for debt service.

ositadima1:


I would go with UBA for several technical reasons. UBA is much more liquid than AFRIPRUD—you can place large funds quickly and recover your money just as fast if you decide to exit. AFRIPRUD is moving sideways currently without strong interest; the market isn’t really concerned with it. But, oh boy, UBA is getting serious attention: almost 50 billion naira exchanged in the last 5 trading days @34 naira. Although trades involve both sellers and buyers, for buyers to show that much interest, they must be very positive about this stock. In the short term, UBA may drop to around ₦30 or below because it is in a mini bear, but I don’t think that changes its long-term potential. This is my analysis based on the charts.

Thanks boss.

Seplat paid me twice.What was the total dividend per unit?

KarlTom:
The loan is backed by [and repayed with] crude. The loan usually specifies a base amount (benchnark price) for a barrel of crude which will determine the number of barrels that will be repayed (this figure is not public knowledge).

Major debts include:
1. RBL to finance the NAOC acquisition.
2. Project Gazelle 1 & 2.

Profit is calculated AFTER all deductions including debt servicing (usually tagged finance costs).

So oando funded the second purchase based on loan on this agreement (RBL).
So how was the first one funded.
I am just hearing this one.So why was the talk then that oando will have to come to market to raise funds thereby diluting our shares.
That means this second loan is already covered. Then is a wise move by wale
Make una no vex .How did seplet and aradel raise the funds for thr own purchase.
That means wale can use this move to to buy that refinery outside without raising fund via shareholders. He will collect loan and be paying back from money that comes from sales of refined products. This guy is smart. Is this not what is called leveraging.
So our worry now is just the first debt.
No wonder he has been shouting he has 1 billion barrels under ground. It is still a win for shareholders because something must remain

Mpeace:
UBA appear destined for something great. They appear very ambitious (not Access kind of ambitious)

Have you divorced your favourite ACCESS

@Streetinvestor2
Well done for those perspectives.

Despite that the result never drop, we still dey read plenty posts on OANDO, when result(s) come drop nko?
Whatever professional explanations made, we still know the reality will play out and favour shareholders.

If people can be singing Tony's praise today, then it's a matter of time for Wale...
We shouldn't forget that AGIP financials is going to be incorporated in OANDO financials since it's 100% acquisition.
God sparing our lifes, we'll all see how everything turns out in the short to medium to long run.
Make everyone go and fokanbale.......one of the two parties will be right or wrong eventually.

Thanks Loco for your solidarity this time around. Lol.

yMcy56:
@Streetinvestor2
Well done for those perspectives.

Despite that the result never drop, we still dey read plenty posts on OANDO, when result(s) come drop nko?
Whatever professional explanations made, we still know the reality will play out and favour shareholders.

If people can be singing Tony's praise today, then it's a matter of time for Wale...
We shouldn't forget that AGIP financials is going to be incorporated in OANDO financials since it's 100% acquisition.
God sparing our lifes, we'll all see how everything turns out in the short to medium to long run.
Make everyone go and fok.......one of the two parties will be right or wrong eventually.

Thanks Loco for your solidarity this time around. Lol.

Wahala be like.....

Access Bank completes acquisition of Kenya’s bank.


This Access Bank no dey tire. They are there acquiring everything. UBA has since left them. Now, Fidelity is playing catch up. Why not focus on the ones acquired before now so that we can see the benefits.

Agbalowomeri:

Wahala be like.....

Had to go and read my post again
How e come dey do you Oga Agba?.....you wan turn to Agbaya finish o 😁