Capital Oil And Gas Industries Ltd disassociates self from Capital Oil PLC

The Capital Oil And Gas Industrial Limited owned by Oil Magnet, Dr. Patrick Ifeanyi Ubah has distanced self from a similar company, Capital Oil PLC which was reportedly taken over by Securites and Exchange Commission (SEC).

According to a statement released by the Capital Oil And Gas Industries Ltd on Friday, the company advised the general public to always differentiate from the two companies especially while using their logo and other facilities.

The statement reads:

“Our 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 this news is true, we have however noticed with dismay that most media outlets have used either our logo, pictures of our depot or the picture of our Managing Director in support of their story. In view of this blunder which is a product of lazy journalism, we wish to make the it clear for the unsuspecting listening and reading public that Capital Oil PLC and Capital Oil and Gas Ind. Ltd. are different entities.

“First off, the Capital Oil in question is absolutely different from Capital Oil and Gas which belongs 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 and 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 and Gas Industries Limited was about to be taken over by the Securities and Exchange Commission.”