FORBES AFRICA'S 37TH RICHEST MAN AND IBB IN LAW,MUHAMED INDIMI SWIMS IS OILY WATER

...........As Oriental Energy Resources and Afren Oil goes Bankrupt

Mohammed Indimi the founder and chairman of Oriental Energy Resources Limited is not a happy man for now,the quiet successful business tycoon whose company has interest in the oil sector, especially in the Nigerian Upstream Oil and Gas sector is losing money and his investment is under heavy burden. Mohammed Indimi founded his company in 1990 and has expanded the company’s portfolio that it now has assets in Offshore Nigeria.

These assets include the Ebok Field (OML 67), Okwok Field (OML 67, and OML 115). When the going was good, in the year 2014, Forbes listed Mohammed Indimi as  Africa's number 37th richest man. Oriental Energy Resources 20year success story is collapsing like a pack of badly placed cards based on the misfortunes that fell on the parent affiliate of the company Afren Oil which is swimming in stock market fall,debt,falling in crude prices and outrageous Executive greed.

THE scandal-ridden oil producer Afren crashed into administration last week after creditors rejected a plea for $250m in fresh cash. 

The size of the request shocked its lenders and proved the final nail in the coffin for a company that was once worth £2bn. 

The beginning of the end for Afren came last year when it uncovered secret pay deals, which led to the firing of its executive team. The halving of the oil price pushed it deep into the red. 

Investors in the Nigeria-focused producer had hoped a boardroom clearout and a creditor bailout would allow them to recover a small fraction of their investment. They have been wiped out.

The future of Oriental Energy Resources which parades 6 of Mohamed Indimi's children as board members,with Jubrilla,Ibrahim as Directors,Ahmed as Head Crude Oil Marketing,Mustafa is Technical Director,even the female children have prominent roles,Mrs Ameena Indimi Dalhatu is the CEO,Amina Indimi- Fodio is the Legal Counsel/Director,while Muhammed Babangida's wife,Yakolo Indimi Babangida is also a Director. 

Industry commentators are of the opinion that the scandal invested Afren Oil,will spell doom for Oriental Energy Resources.