African Petroleum Plc

[iluvstocks]

Originally Posted by twentypercent

Jimoh ke! it is AP you are talking about not NICON...except you are saying Femi Otedola cares about his company so much, I think he would be more prone towards Zenon since thats a private cash cow....the debt profile is weighty and I think KOD is banking on the FG paying the fuel importers anytime soon.

Sorry, I meant Otedola for his Dangote AP shares manipulation fight.

[twentypercent]

Originally Posted by iluvstocks

Sorry, I meant Otedola for his Dangote AP shares manipulation fight.

Well, i personally think that was an uncalled for public spat on Otedola's part...any investment in AP shares now as to be with a longer investment horizon in mind.

[iluvstocks]

Originally Posted by twentypercent

Well, i personally think that was an uncalled for public spat on Otedola's part...any investment in AP shares now as to be with a longer investment horizon in mind.

Not sure I agree it was uncalled for. If anything, it forced the NSE to fix a blatant hole in their trading platform. I personally am very grateful for that as the hole was driving me nuts. But I agree AP shares is pretty risky in the short term until we get some clarity on how they are doing. Releasing their earnings report will not be a bad thing. I think in the long term at a good valuation, I would have no problems investing with Otedola because he has shown he would do anything to drive the stock up.

[wanaj0]

What is AP's unique selling point? Nothing!!!!

OandO is FAR better. Well diversified, multiple streams of income, integration across the value chain BUT highly geared and expected dilution with the planned offer. In terms of management, OandO is ahead of the competition though I dont trust Tinubu and his group.

I will AVOID the sector until the PIB and deregulation is sorted out. The margin in that sector is too SMALL to try and gamble with any stock in that sector.

[nosa2]

Thanks guys, i guess i'll keep looking.

[ikazuagbe]

i'll like 2 know if AP is a good share to buy at the moment with regards to its price,fundamental.management team,market share also good dividend and bonus history

[nosa2]

Originally Posted by ikazuagbe

i'll like 2 know if AP is a good share to buy at the moment with regards to its price,fundamental.management team,market share also good dividend and bonus history

from the criteria's you've mentioned i assume you're a mid term investor (about 6 months) and from what has been said, i can gather that they're most likely not going to pay any dividends this financial year but that does not remove the possibility of bonus (infact i strongly believe they'll issue a bonus) which when announced would drive up the price. Unfortunately i'm educated enough to know that bonus is not any real return rather a dilution of my holding so its not compelling enough to make me buy especially when red star and co are still trading so low

[twentypercent]

Originally Posted by wanaj0

What is AP's unique selling point? Nothing!!!!

OandO is FAR better. Well diversified, multiple streams of income, integration across the value chain BUT highly geared and expected dilution with the planned offer. In terms of management, OandO is ahead of the competition though I dont trust Tinubu and his group.

I will AVOID the sector until the PIB and deregulation is sorted out. The margin in that sector is too SMALL to try and gamble with any stock in that sector.

That's why AP's price hasn't taken off, the market doesn't see any uniqueness too. they tried to float the idea of establishing a private refinery in the county a few weeks back but the market didn't buy the BS, not with all the debt they are presently carrying...I am not gambling on it anytime soon. The Oando group seems to have developed a debt appetite for expansion and I think the planned london listing is another big move too, I will look at them if the entry price becomes a bargain for me. Oando as successfully seperated itself from theboys in that sector.

[hispy99]

AP shares: Court adjourns Dangote’s motion to Dec 17

[utuocha]

Contrary to some views on AP's price, I think it is over priced. The company is a shell of it's old self. There seem to be a shift of focus by the owners to Zenon while AP is allowed to drown. The company's heavy indebtedness is well known and there's apparantly to strategic vision for the company's future growth. I am scared stiff of this stock!

[utuocha]

allAfrica.com: Nigeria: EFCC Arraigns Nine Over N200 Million Fraud

When will AP's string of woes end?

[pegheneji]

abeg just drop ur comment on AP, why do you think is moving it?

[hispy99]

African petroleum plc has notified the exchange of changes in its directorate. Mr. Femi otedola relinquishes his position as ceo but remains as chairman, as mr tunde falasinmu becomes new md/ceo.

[pumping]

Can someone paste the results of AP here?

They declared losses for first 3 quarters of 2009 according to FSDH.

LAT 2009

(5,476.00) - Q 3
(5,560.00) - Q 2
(4,680.00) - Q 1

[123.rado]

17-03-2010 AFRICAN PETROLEUM PLC THIRD QUARTER
INTERIM REPORT FOR THE PERIOD 30TH SEPTEMBER 2009
2009 2008 %CHANGE
TURNOVER N118.666b N112.955b (3.49)
PROFIT BEFORE TAX (N5.476b) N6.318b (186.67)
TAXATION NILL (N1.263b) (100.00)
PROFIT AFTER TAX (N5.476b) N5.054b (208.35)
BALANCE SHEET INFORMATION
30-09-09 31-12-08
FIXED ASSETS N10.446b N10.291b 1.51
INVESTMENTS N105.539m N105.539m 0.00
STOCK N9.531b N11.201b (14.91)
TRADE DEBTORS N4.614b N2.843b 62.30
CASH AND BANK BALANCES N1.086b N4.900b (14.91)
OTHER DEBIT BALANCES N25.938b N40.911b (36.60)
TRADE CREDITORS N4.089b N1.622b 152.06
SHORT TERM BORROWINGS N28.084b N53.161b (47.17)
OTHER CREDIT BALANCES N5.979b N8.616b (30.60)
WORKING CAPITAL N7.207b (N1.959b) (467.81)
NET ASSETS N16.851b N6.852b 145.92

[123.rado]

17-03-2010 AFRICAN PETROLEUM PLC SECOND QUARTER
INTERIM REPORT FOR THE PERIOD 30TH JUNE 2009
2009 2008 %CHANGE
TURNOVER N77.682b N80.751b (3.80)
PROFIT LOSS BEFORE TAX (N5.560b) N4.851b (214.62)
TAXATION NILL N970.276m (100.00)
PROFIT LOSS AFTER TAX (N5.560b) N3.881b (243.27)
BALANCE SHEET INFORMATION
30-6-09 31-12-08
FIXED ASSETS N10.346b N10.291b 0.54
INVESTMENTS N105.539m N105.539m 0.00
STOCK N10.531b N11.201b (5.98)
TRADE DEBTORS N4.869b N2.843b 71.25
CASH AND BANK BALANCES N4.150b N4.900b (15.31)
OTHER DEBIT BALANCES N31.943m N40.911b (21.92)
TRADE CREDITORS N1.588b N1.622b (2.13)
SHORT TERM BORROWINGS N36.776b N53.161b (30.82)
OTHER CREDIT BALANCES N19.922b N8.616b 131.20
WORKING CAPITAL (N7.373b) (N1.959b) 276.27
NET ASSETS N955.005m N6.852b (86.06)

[123.rado]

17-03-2010 AFRICAN PETROLEUM PLC FIRST QUARTER
INTERIM REPORT FOR THE PERIOD 31ST MARCH 2009
2009 2008 %CHANGE
TURNOVER N38.144b N35.111b 8.64
PROFIT BEFORE TAX (N4.680b) N3.186b (246.88)
TAXATION NILL (N796.689m) (100.00)
PROFIT AFTER TAXATION (N4.680b) N2.390b (295.84)
BALANCE SHEET INFORMATION
31-3-09 31-12-08
FIXED ASSETS N10.122b N10.291b (1.64)
INVESTMENTS N105.539m N105.539m 0.00
STOCK N10.774b N11.201b (3.81)
TRADE DEBTORS N3.586b N2.843b (26.12)
CASH AND BANK BALANCESN4.360b N4.900b (11.02)
OTHER DEBIT BALANCES N39.843b N40.911b (2.61)
TRADE CREDITS N1.921b N1.622b 18.41
SHORT TERM BORROWINGS N45.626b N53.161b (14.17)
OTHER CREDIT BALANCES N22.114b N8.616b 156.64
WORKING CAPITAL (N6.788b) (N1.959b) 246.40
NET ASSETS N1.835b N6.852b (73.22)

[ayemco]

Originally Posted by 123.rado

17-03-2010 AFRICAN PETROLEUM PLC FIRST QUARTER
INTERIM REPORT FOR THE PERIOD 31ST MARCH 2009
2009 2008 %CHANGE
TURNOVER N38.144b N35.111b 8.64
PROFIT BEFORE TAX (N4.680b) N3.186b (246.88)
TAXATION NILL (N796.689m) (100.00)
PROFIT AFTER TAXATION (N4.680b) N2.390b (295.84)
BALANCE SHEET INFORMATION
31-3-09 31-12-08
FIXED ASSETS N10.122b N10.291b (1.64)
INVESTMENTS N105.539m N105.539m 0.00
STOCK N10.774b N11.201b (3.81)
TRADE DEBTORS N3.586b N2.843b (26.12)
CASH AND BANK BALANCESN4.360b N4.900b (11.02)
OTHER DEBIT BALANCES N39.843b N40.911b (2.61)
TRADE CREDITS N1.921b N1.622b 18.41
SHORT TERM BORROWINGS N45.626b N53.161b (14.17)
OTHER CREDIT BALANCES N22.114b N8.616b 156.64
WORKING CAPITAL (N6.788b) (N1.959b) 246.40
NET ASSETS N1.835b N6.852b (73.22)

Am I seeing double

[muranay@yahoo.com]

Originally Posted by 123.rado

17-03-2010 AFRICAN PETROLEUM PLC FIRST QUARTER
INTERIM REPORT FOR THE PERIOD 31ST MARCH 2009
2009 2008 %CHANGE
TURNOVER N38.144b N35.111b 8.64
PROFIT BEFORE TAX (N4.680b) N3.186b (246.88)
TAXATION NILL (N796.689m) (100.00)
PROFIT AFTER TAXATION (N4.680b) N2.390b (295.84)
BALANCE SHEET INFORMATION
31-3-09 31-12-08
FIXED ASSETS N10.122b N10.291b (1.64)
INVESTMENTS N105.539m N105.539m 0.00
STOCK N10.774b N11.201b (3.81)
TRADE DEBTORS N3.586b N2.843b (26.12)
CASH AND BANK BALANCESN4.360b N4.900b (11.02)
OTHER DEBIT BALANCES N39.843b N40.911b (2.61)
TRADE CREDITS N1.921b N1.622b 18.41
SHORT TERM BORROWINGS N45.626b N53.161b (14.17)
OTHER CREDIT BALANCES N22.114b N8.616b 156.64
WORKING CAPITAL (N6.788b) (N1.959b) 246.40
NET ASSETS N1.835b N6.852b (73.22)

Guru pls any hope for Q4 positive or break even.

[knightofdelta]

Originally Posted by muranay@yahoo.com

Guru pls any hope for Q4 positive or break even.

No, there is no hope.