JAPAUL OIL & MARITIME SERVICES PLC (JAPAULOIL) STOCK

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Admin

Administrator
Staff member
Apr 5, 2020
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Company Name: JAPAUL OIL & MARITIME SERVICES PLC (JAPAULOIL)
Ticker: JAPAULOIL
Market Classification: Main Board
Sector: OIL AND GAS
Sub Sector: Energy Equipment and Services
Nature of Business: Rendering Maritime Services, Oil and Gas Service, Dredging, Quarry, Transportation, Engineering and Construction
Company Address: Japaul House, Plot 8, Dr Nurudeen Olowopopo Avevnue, Central Business District, Agidingbi, Ikeja, Lagos
Telephone: +23418839642
Fax:
Email: info@japaulgroup.com
Auditor: PKF Professional Services
Registrar: Sterling Registrars Ltd

Trading Information
Trading Name: JAPAUL OIL & MARITIME SERVICES PLC (JAPAULOIL)
Ticker Symbol: JAPAULOIL
Sector: OIL AND GAS
Sub Sector: Energy Equipment and Services
Market Classification: Main Board
Market Cap (Mil.): 1,252,540,343.20
Shares Outstanding (Mil.): 6,262,701,716
 

Adewale Stock

Administrator
Apr 15, 2020
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JAPAUL OIL is a company that should be thriving already. They deal with Oil and gas but investors are not seeing the good results and they have not seen the stock price rise in the past years. Nigerian investors continue to push money into the company. However, it hasn't been rewarding.

 

Adewale Stock

Administrator
Apr 15, 2020
1,228
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Recent news about

Nigerian Oil-Services Firm Japaul Seeks $70 Million to Switch to Mining

Japaul Oil & Maritime Services Plc, a Nigerian petroleum-services company, plans to raise 27 billion naira ($70 million) in a share offer in November to fund its switch to mining as crude exploration and production activities wane.



The Lagos-based company, which currently provides offshore construction, equipment leasing and oilfield-support services, has experienced a decline as oil prices fell in recent years, forcing energy companies to cut back on investments, Chairman Jegede Paul said in an online interview from Lagos.



“The oil companies that we are serving have little jobs to do and the little jobs that are there, we are all battling to do at prices that are below our costs,” said Paul. “By the next two years, we will completely be a mineral company.”



Japaul is working with Toronto-based Matrix Geotechnologies Ltd as the consultant for its operations and has obtained licenses to mine gold, lead, nickel and copper it identified in commercial quantities in different parts of Nigeria, Paul said. The company also wants to acquire smaller companies that already have licenses for those minerals to boost its production.


Its shift to other minerals comes at a time the West African nation is seeking to diversify the economy away from dependence on oil, the source of more than 90% of foreign-exchange earnings. Nigeria started gold refining in June as part of moves to boost its bullion reserves with the Central Bank of Nigeria.

- Bloomberg wrote this about Japaul OIl. What do you all think?