ConOil

[faoogoke]

Originally Posted by 5959olu

i think it is First Registrars but would be nice to confirm with them.

I am still waiting for Conoil's registrar info. Cheers

[BLUEMONEY]

Originally Posted by faoogoke

I am still waiting for Conoil's registrar info. Cheers

Sterling Registrars Limited
8th Floor,
Knight Frank Building,
24 Campbell Street, Lagos.
Tel/Fax: 234-01-2642582
E-mail: ntsl@nalbank.com.ng

CHEERS

[faoogoke]

Originally Posted by BLUEMONEY

Sterling Registrars Limited
8th Floor,
Knight Frank Building,
24 Campbell Street, Lagos.
Tel/Fax: 234-01-2642582
E-mail: ntsl@nalbank.com.ng

CHEERS

Thanks my brother! Jah bless!!!

[stpaul]

hello,i have a similar problem with conoil and how to transfer from the old national oil to the present day conoil.i last recive info on this issue since the late 90's and the only certifcate i have are the bonus share certificate issued.what do i do?

[billions]

CONOIL PLC
UNAUDITED RESULT FOR 9 MONTHS ENDED 31-09-2007
2007 2006
TURNOVER N58.014b N65.054b
PROFIT BEFORE TAXATION N2.402b N2.826b
TAXATION (N769m) (N848m)
PROFIT AFTER TAXATION N1.633b N1.978b

[billions]

CONOIL PLC
UNAUDITED RESULT FOR 3 MONTHS ENDED 31-03-2008
2008 2007
TURNOVER N32.902b N16.138b
PROFIT BEFORE TAXATION N1.598b N613m
TAXATION (N511m) (N184m)
PROFIT AFTER TAXATION N1.087b N429m

[kenebobo]

Originally Posted by billions

CONOIL PLC
UNAUDITED RESULT FOR 3 MONTHS ENDED 31-03-2008
2008 2007
TURNOVER N32.902b N16.138b
PROFIT BEFORE TAXATION N1.598b N613m
TAXATION (N511m) (N184m)
PROFIT AFTER TAXATION N1.087b N429m

Impressive

[Babs_O]

CONOIL PLC UNAUDITED HALF-YEAR RESULT FOR THE PERIOD ENDED 30 JUNE 2008


..................................2008......2007......CHANGE......% CHANGE
..................................N'b.........N'b........N'b.............%
TURNOVER....................75.058....32.828...42.23.........128.64%
PROFIT BEFORE TAX........ 3.902.....1.238....2.664.........215.19%
TAXATION..................... -1.249...-0.372...-0.877........-235.75%
PROFIT AFTER TAX.......... 2.653.....0.866....1.787........ 206.35%

These results are getting better.

[billions]

Originally Posted by Babs_O

CONOIL PLC UNAUDITED HALF-YEAR RESULT FOR THE PERIOD ENDED 30 JUNE 2008


..................................2008......2007......CHANGE......% CHANGE
..................................N'b.........N'b........N'b.............%
TURNOVER....................75.058....32.828...42.23.........128.64%
PROFIT BEFORE TAX........ 3.902.....1.238....2.664.........215.19%
TAXATION..................... -1.249...-0.372...-0.877........-235.75%
PROFIT AFTER TAX.......... 2.653.....0.866....1.787........ 206.35%

These results are getting better.

The forward PE at todays price is abt 11.4,considering d average PE in dat sector...it is a very very good buy.

[Apache]

Please can someone provide the full year audited report for 2007. i am particularly interested in the tax figures

[hispy99]

Conoil projects N331bn turnover by 2010
By Udeme Ekwere
Published: Monday, 25 Aug 2008

Conoil Plc has projected a turnover of N236bn and N331bn for 2009 and 2010 respectively.

The company also projected a profit before tax of N8bn, N10.8bn and N15.12bn for 2008, 2009 and 2010 respectively.

Speaking during the company’s pre annual general meeting, the Executive Director, Finance and Administration; Conoil, Mr. Joshua Ariyo, said that the company had put in place strategies and policies to achieve the projections.

He stated that various expansion projects, aimed at increasing its turnover, and creating wealth for its shareholders were being undertaken to ensure that investors received value for their money.

According to him, “The company, is constantly exploring new ways to leverage its expertise to provide world-class products and services. We are also investing our financial and technical resources in the development of high-performance products and in the provision of services that surpass international standards.”

He said the company, which is a frontline player in the downstream petroleum industry, was determined to sustain its record of profitability and further enhance its impressive performance in the sector, through the implementation of strategic development projects, which were aimed at boosting its market share in the core businesses.

In its recently released, unaudited financial results for the half-year ended June 30, 2008, the company recorded a turnover of N75bn. This represented an increase by 127 per cent over the N33bn posted in the similar period of 2007.

Its profit before tax also rose by 225 per cent from N1.2bn in 2007 to N3.9bn. The company also posted after tax profit of N2.7bn, representing an increase by 212 per cent over the N866m recorded in 2007.

While projecting that its turnover for the full year ended 2008 will hit N175bn, Ariyo stated that the results recorded by the company was in line with the company’s determination to increase its shareholder value.



A statement by the company stated that the results were in line with the promise of the board and management to put smiles on the faces of shareholders this year by posting these achievements, with the hope of significantly increasing dividend payout at the end of the financial year.

It stated that strategies put in place by the management to maintain its profit-making capacity, including the expansion of its storage depots spread across the country to bolster its fuel supply and distribution capacity, were beginning to yield dividend.

[chuksnwamara]

@ Apache Helicopter

CONOIL PLC
AUDITED RESULT FOR THE YEAR ENDED 31-12-2007
2007 2006
TURNOVER N86.847b N90.523b
PROFIT BEFORE TAXATION N3.759b N4.113b
TAXATION (N1.165b) (N1.304b)
PROFIT AFTER TAXATION N2.593b N2.808b
PROPOSED DIVIDEND 275K CLOSURE DATE AUGUST
4TH TO 11TH 2008 PAYMENT DATE
SEPTEMBER 19TH 2008

[dimeji_777]

Originally Posted by chuksnwamara

@ Apache Helicopter

CONOIL PLC
AUDITED RESULT FOR THE YEAR ENDED 31-12-2007
2007 2006
TURNOVER N86.847b N90.523b
PROFIT BEFORE TAXATION N3.759b N4.113b
TAXATION (N1.165b) (N1.304b)
PROFIT AFTER TAXATION N2.593b N2.808b
PROPOSED DIVIDEND 275K CLOSURE DATE AUGUST
4TH TO 11TH 2008 PAYMENT DATE
SEPTEMBER 19TH 2008

Good result makes Conoil a very good stock to buy, but to what degree has the bears put pressure on the prices in the oil sector?

[hispy99]

Conoil launches strategic master plan for storage facility

CONOIL Plc, a major petroleum products marketing firm in Nigeria, has launched a strategic master plan to increase its storage, blending and distribution capacities over the next two years.

The project involves massive investment in infrastructure development to position the company for emerging opportunities in the industry.

According to the Executive Director, Administration and Account of the company, Mr. J.O Ariyo, the ultimate goal was to boost market share and open new income stream that would sustain its leadership position in the downstream oil sector.

Ariyo at an interative session with media executives in Lagos said that the lubricant business was one of the key areas that were receiving considerable attention under the master plan. All was set to begin the installation of a new lubricant blending plant at Apapa, Lagos to complement the existing one.

"The new plant will double the current filling capacity of 44,000 metric tones per annum. In addition, a lubricant blending plant is to be built in Port Harcourt. It will take off on a 16,000-metric tonne capacity per annum for a start and will later be increased to 40,000 metric tones per annum.

"In Lagos, Port Harcourt and Calabar, the company has begun multi-billion naira expansion projects, which includes the building of 20-million litres capacity tanks in Apapa. This will enable bulk storage of Premium Motor Spirit (PMS) and Aviation Turbine Kerosene (ATK) and ensure availability of the products at all times.

"The need to consolidate the company's competitive edge in the industrial and aviation markets in Port Harcourt Business Area has necessitated the building of four tanks, with a storage capacity by 40 million litres, to stock ATK and Automotive Gas Oil (AGO). The installation will be given a facelift and provided with a six-way loading gantry, modern integrated fire fighting facilities as well as a dedicated one-kilometre cargo pipeline.

"As part of the strategic expansion drive, a new depot has been earmarked for Calabar, which will have three storage tanks with 10-million litres capacity each, for storing ATK, AGO and PMS. The depot will have a four-way loading gantry, modern safety equipment and a laboratory with high-tech facilities, among other things.

"Conoil is the only oil marketing company providing service in Calabar Airport. In a deft move aimed at cashing in on this advantage to boost bottomline, the management has approved that the ATK tankage capacity at the aviation service station in Calabar by 2.5 million litres. This is expected to ensure availability of the product and to enable the company to push higher volume that will make a marked difference in bottomline."

Commenting on the ongoing expansion, the Managing Director, Mr. Sanjay Mathur, expressed the company's renewed drive towards internal excellence, cost efficiency, manpower development and strategic planning and proactive investments.

"Apart from upgrading and expanding our facilities in the various depots, we are launching initiatives to enhance service delivery and broaden our customer base in all segments of the business. We expect appreciable results from our enormous investment in infrastructures and can confidently assure investors of better days ahead."

[billions]

Conoil moves to cushion shareholders losses at stock market
29 August, 2008 12:00:00 Anonymous
Font size:
The executive director of Conoil, Femi Ariyo, has assured that the company’s performance so far will cushion the recent losses by shareholders at the stock exchange.

Ariyo gave this assurance in Lagos at the company’s pre-annual general meeting. He noted that the company’s investments in recent years were clearly visible in the returns from January to June this year.

In the period under review, the company’s turnover appreciated by 129 percent to N75.058 billion when compared to N32.82 billion it posted during the same period in 2007.

The profit before tax rose by 215 percent to N3.90 billion against N1.24 billion in 2007.

The profit after tax stood at N2.65 billion or 206 per cent above N866 million earned in 2007.

The executive director stated that the board and management were determined to sustain the performances put in place by the board in the last two years.

He said the commitment and investments by the board so far provided the basis for a projected turnover of N175 billion at the end of 2008 compared with N86.85 billion earned in 2007.

He projected that profit after tax would appreciate by 113 per cent during the period to N5.44 billion as against N2.59 achieved in 2007.

According to him, the half year result and the full year earnings projections are in line with the company’s earlier promise of putting smiles on the faces of shareholders in 2008.

Ariyo identifies the new investments as the new 20 million litres, 42 million lires and 135 million capacity tank farms located in Lagos, Calabar and Port Harcourt respectively.

The other investments celebrated by the company include the new lubricant plant at Port Harcourt with 16,000 metric tons and the provision for expansion of the storage capacity to 40,000 metric tons.

Ariyo noted that Conoil also invested in the jetties in Lagos and Calabar to facilitate the company’s aggressive distribution of products across the nation and to leverage profitability.

Meanwhile, three-year projections of Conoil showed that the oil marketing company targets a turnover of N236.25 billion in 2009 and N330.75 billion in 2010.

The projected profit after tax during the period also stood at N7.3 billion and N10.3 billion in 2009 and 2010 respectively.