Capital Oil & Gas Ind. Ltd Not Capital Oil PLC – Management

The Management of Capital Oil & Gas Industries Limited said that their attention has been drawn to news making the rounds with regards to Securites and Exchange Commission and its purported to take over Capital Oil PLC. While the news is true, the Management has however noticed with dismay that most media outlets have used their logo, pictures of their depot or the picture of their Managing Director in support of their story.

In view of this blunder which is a product of lazy journalism, the Management wishes to make it clear for the unsuspecting listening and reading public that Capital Oil PLC and Capital Oil & Gas Ind. Ltd. are different entities.

The Capital Oil in question is absolutely different from Capital Oil and Gas which belonged to Dr. Ifeanyi Ubah. Capital Oil PLC is currently registered on the floor of the stock exchange and as such is a publicly quoted company. On the other hand, Capital Oil and Gas is a limited liability company owned by Dr. Ifeanyi Ubah and is not quoted. Hence, Capital Oil and Gas has no business with the Securities and Exchange Commission (SEC).

“Capital Oil PLC is less popular than Capital Oil and Gas which is why everyone assumes Dr. Ifeanyi Ubah’s company is being referred to anytime Capital Oil is being mentioned. This is very wrong.”

Please find below, a graphic illustration showing the logos of Capital Oil & Gas Ind. Ltd. and Capital Oil PLC. The difference is clear for all to see.

This is for the kind attention of the unsuspecting public who have been misled by the activities of lazy reporters and journalists into believing that Capital Oil & Gas Industries Limited was about to be taken over by the Securities and Exchange Commission.