There are indicates that big player, Ben Peters and group Aiteo consortium group are experiencing great difficulty, especially concerning meeting up with payment in the lucrative Shell Oil block deal. Ben Peters and his team of investors had acquired the lucrative Oil block from Shell Petroleum Development Company to much reportage- and increased rating in sphere of operation.
However, a few of weeks down the line, the story is fast changing and the positive picture initially painted is fast thinning out.
Insiders disclose Ben Peters and his backers are cash stuck.‘they are having great difficulty meeting up with payment schedule for the $2.7b acquisition’ is how an insider put it.
Information at our disposal revealed the situation has twisted to such an extent for the Ben Peters Led team that they are presently pleading for a repackaged payment schedule. Ben Peters abd his group are seriously lagging behind in the payment issue.
Insiders further disclosed the team had premised attracting more than enough fund to execute the mega purchase on the attractiveness of the downstream sector to investors – especially because of it’s vital role in the nation’s economy.
But the falling prices of oil has pulled the carpet on strength of this strategy- and scared off possible funds providers.
And to compound the issue, sources claim ‘those who have committed funds are exploring ways to pull out to cut possible losses’.
This development is said to be giving Peters and his main promoters sleepless night and cause for concern and it is yet unclear how the oil man will wade out of this one.
