Question for the Nigeria experts here, Oando is one of MMT's peers, Stonecap said they trade at approximately 1/3 the $/flowing bbl, and 1/3 price/2p reserves as MMT.  They have a target of $3.50 with estimate of 80 cents CFPS next year. I think if they increase the public float we could see a revaluation and maybe the target becomes more realistic, what do you guys think of OER? Whats the knock on the co? Considering owning both OER and MMT.

My opinion and opinion only.....
Too early to get in , very illiquid due to ownership of 94,6% of tha shares by Mother Corporation Oando PLC.
Liabilities is running around ~ $240 Million if memory serves according to Q3, and Qua Ibo has not been transfered to Oando Energy (OER)  by Mommy. When Mommy transfers Qua Ibo to OER, it will transfer an additional $100 Million of debt.
Although the prospects are appealing, and the growth plans extremelly agressive, I expect that at some point they will need to raise cash, to fund debt and expansion , hence a second offering of 100+ million shares would not surprise me, and at that stage provided it is offered to the public and not majority held again by Mommy, I might consider jumping in.
Lastly there seem to be some contentious/legal issue surrounding 2 of their Offshore license partnership, not sure were that stand these days mind you.
Right now, share movement is based on very little trading (volume wise) and totally distorted.
Just my opinion mind you I said earlier.