Slowly and often unnoticed Oando share price seem to be creeping back into the “teens” as news of its proposed Conoco Philips deal has started fizzling out. The share price has been on a steady fall month long and closed at N15.3 today about its lowest since December 3 2014. This is a stock that opened 2013 at N26.6 on the back of the huge expectation associated with its oil block acquisition.
Could it be heading back to N10 anytime soon or is this just a temporary set back? Well, a lot depends on the Conoco deal and how the market perceives its prospects. For not speculates can only whine or shine depending on the side of the coin you belong to.