MRS NIGERIA PLC (Former Chevron) - Page 2

hispy99 · #21 (**permalink**) 29th October 2008, 01:20 AM

The Punch :: Chevron workers resume strike

hispy99 · #22 (**permalink**) 18th November 2008, 01:47 PM

allAfrica.com: Nigeria: Court Stops Banks Over Sale of Texaco (Page 1 of 1)

hispy99 · #23 (**permalink**) 13th December 2008, 12:09 AM

Latest Market Info
CHEVRON: 2ND & 3RD QTR RESULTS 2008

CHEVRON OIL NIGERIA PLC PERIOD 3RD QUARTER RESULT ENDED 30/9/08

TURNOVER 08 N36.255b 07 N52.578b

PROFIT BEFORE TAX 08 N462.751m 07 N2.080b TAXATION 08 N148.081m 07 (N697.250m) PATAXATION 08 N314.670m 07 N1.382b

CHEVRON OIL NIGERIA PLC PERIOD 2ND QUARTER RESULT ENDED 30/6/08

TURNOVER 08 N24.444b 07 N34.302b

PROFIT BEFORE TAXATION 08 N514.172m 07 N1.591b TAXATION 08 N171.333m 07 (N521.465m)

PROFIT AFTER TAXTION 08 N342.839m 07 N1.069b

mosbe · #24 (**permalink**) 13th December 2008, 02:43 AM

Quote:

Originally Posted by hispy99

Latest Market Info
CHEVRON: 2ND & 3RD QTR RESULTS 2008

CHEVRON OIL NIGERIA PLC PERIOD 3RD QUARTER RESULT ENDED 30/9/08

TURNOVER 08 N36.255b 07 N52.578b

PROFIT BEFORE TAX 08 N462.751m 07 N2.080b TAXATION 08 N148.081m 07 (N697.250m) PATAXATION 08 N314.670m 07 N1.382b

CHEVRON OIL NIGERIA PLC PERIOD 2ND QUARTER RESULT ENDED 30/6/08

TURNOVER 08 N24.444b 07 N34.302b

PROFIT BEFORE TAXATION 08 N514.172m 07 N1.591b TAXATION 08 N171.333m 07 (N521.465m)

PROFIT AFTER TAXTION 08 N342.839m 07 N1.069b

This result NO GOOD @ all.

hispy99 · #25 (**permalink**) 19th March 2009, 03:08 AM

THISDAY ONLINE / Nigeria news / African views on global news

hispy99 · #26 (**permalink**) 26th March 2009, 06:03 AM

The Punch: Chevron completes divestment from Nigerian downstream

hispy99 · #27 (**permalink**) 31st March 2009, 02:29 AM

THISDAY ONLINE / Nigeria news / African views on global news

yemo · #28 (**permalink**) 31st March 2009, 09:10 PM

30 Day Price/Vol

hispy99 · #29 (**permalink**) 8th April 2009, 02:33 AM

THISDAY ONLINE / Nigeria news / African views on global news

bivins1 · #30 (**permalink**) 12th April 2009, 12:14 AM

[QUOTE=hispy99;43933]THISDAY ONLINE / Nigeria news / African views on global news

hispy99 · #31 (**permalink**) 26th June 2009, 12:54 AM

Shares divestment: Zenon, Chevron’s suit adjourned indefinitely
Personal Finance Features and Tools

knightofdelta · #32 (**permalink**) 1st July 2009, 03:47 PM

CHEVRON OIL NIGERIA PLC
AUDITED FINANCIAL STATEMENT FOR THE PERIOD ENDED 31ST DECEMBER 2008
2008 2007 %CHANGE
TURNOVER N48.687b N72.628b (32.96)
LOSS PROFIT BEFORE
TAXATION (N305.726m) N2.994b (110.21)
TAXATION CREDIT CHARGED N80.300m (N1.035b) 107.75
LOSS PROFIT AFTER TAXATION (N225.425m) N1.959b (111.51)
FIXED ASSETS N3.421b N3.838b (10.85)
STOCK N2.146b N3.243b (33.83)
CASH AND BANK BALANCES (N285.100m) N5.824b (104.89)
OTHER DEBIT BALANCES N6.029b N8.030b (24.91)
TRADE CREDITS N7.950b N14.624b (45.63)
OTHER CREDIT BALANCES N1.446b N2.266b (36.20)
WORKING CAPITAL (N370.738m) (N1.425b) (126.00)
NET ASSETS N1.915b N4.045b (52.66)
NOTE THE COMPANY HAD EARLIER INFORMED THE MARKET THAT
THE 1ST AND 3RD QUARTER RESULTS WERE IMPACTED BY STRIKE
ACTIONS TRANSPORT UNION AND EMPLOYEE RESPECTIVELY WHICH
LASTED FOR APPROXIMATELY FIVE MONTHS THE OVERRIDING EFEECT
OF THE STRIKE ACTION RESULTED IN THE NET LOSS FOR THE COMPANY
IN 2008. ANNUAL GENERAL MEETING DATE 29TH SEPTEMBER 2009 CLOSURE
OF REGISTER SEPTEMBER 14 TO 18 2009 VENUE ZARANDA HOTEL LIMITED JOS
ROAD BAUCHI 2009 AT 11.00A.M

zainabusman · #33 (**permalink**) 1st July 2009, 04:00 PM

Quote:

Originally Posted by knightofdelta

CHEVRON OIL NIGERIA PLC
AUDITED FINANCIAL STATEMENT FOR THE PERIOD ENDED 31ST DECEMBER 2008
2008 2007 %CHANGE
TURNOVER N48.687b N72.628b (32.96)
LOSS PROFIT BEFORE
TAXATION (N305.726m) N2.994b (110.21)
TAXATION CREDIT CHARGED N80.300m (N1.035b) 107.75
LOSS PROFIT AFTER TAXATION (N225.425m) N1.959b (111.51)
FIXED ASSETS N3.421b N3.838b (10.85)
STOCK N2.146b N3.243b (33.83)
CASH AND BANK BALANCES (N285.100m) N5.824b (104.89)
OTHER DEBIT BALANCES N6.029b N8.030b (24.91)
TRADE CREDITS N7.950b N14.624b (45.63)
OTHER CREDIT BALANCES N1.446b N2.266b (36.20)
WORKING CAPITAL (N370.738m) (N1.425b) (126.00)
NET ASSETS N1.915b N4.045b (52.66)
NOTE THE COMPANY HAD EARLIER INFORMED THE MARKET THAT
THE 1ST AND 3RD QUARTER RESULTS WERE IMPACTED BY STRIKE
ACTIONS TRANSPORT UNION AND EMPLOYEE RESPECTIVELY WHICH
LASTED FOR APPROXIMATELY FIVE MONTHS THE OVERRIDING EFEECT
OF THE STRIKE ACTION RESULTED IN THE NET LOSS FOR THE COMPANY
IN 2008. ANNUAL GENERAL MEETING DATE 29TH SEPTEMBER 2009 CLOSURE
OF REGISTER SEPTEMBER 14 TO 18 2009 VENUE ZARANDA HOTEL LIMITED JOS
ROAD BAUCHI 2009 AT 11.00A.M

So they are also declaring a loss. The results coming out these days are modest at best. Lets hope FBN and Diamond can deliver good results.

tonidol · #34 (**permalink**) 1st July 2009, 08:28 PM

Quote:

Originally Posted by knightofdelta

CHEVRON OIL NIGERIA PLC
AUDITED FINANCIAL STATEMENT FOR THE PERIOD ENDED 31ST DECEMBER 2008
2008 2007 %CHANGE
TURNOVER N48.687b N72.628b (32.96)
LOSS PROFIT BEFORE
TAXATION (N305.726m) N2.994b (110.21)
TAXATION CREDIT CHARGED N80.300m (N1.035b) 107.75
LOSS PROFIT AFTER TAXATION (N225.425m) N1.959b (111.51)
FIXED ASSETS N3.421b N3.838b (10.85)
STOCK N2.146b N3.243b (33.83)
CASH AND BANK BALANCES (N285.100m) N5.824b (104.89)
OTHER DEBIT BALANCES N6.029b N8.030b (24.91)
TRADE CREDITS N7.950b N14.624b (45.63)
OTHER CREDIT BALANCES N1.446b N2.266b (36.20)
WORKING CAPITAL (N370.738m) (N1.425b) (126.00)
NET ASSETS N1.915b N4.045b (52.66)
NOTE THE COMPANY HAD EARLIER INFORMED THE MARKET THAT
THE 1ST AND 3RD QUARTER RESULTS WERE IMPACTED BY STRIKE
ACTIONS TRANSPORT UNION AND EMPLOYEE RESPECTIVELY WHICH
LASTED FOR APPROXIMATELY FIVE MONTHS THE OVERRIDING EFEECT
OF THE STRIKE ACTION RESULTED IN THE NET LOSS FOR THE COMPANY
IN 2008. ANNUAL GENERAL MEETING DATE 29TH SEPTEMBER 2009 CLOSURE
OF REGISTER SEPTEMBER 14 TO 18 2009 VENUE ZARANDA HOTEL LIMITED JOS
ROAD BAUCHI 2009 AT 11.00A.M

This is a bad omen for coys in this sector.

hispy99 · #35 (**permalink**) 2nd July 2009, 12:47 AM

Quote:

Originally Posted by tonidol

This is a bad omen for coys in this sector.

Maybe not...did the workers not embark on a strike action awhile back? That may be responsible for the 32% drop in sales

knightofdelta · #36 (**permalink**) 2nd July 2009, 11:05 AM

Quote:

Originally Posted by hispy99

Maybe not...did the workers not embark on a strike action awhile back? That may be responsible for the 32% drop in sales

Have you looked at the profit margin and leverage in this sector? The average net profit margin is 2% and the average debt to equity is 5. The margins are thin and the volatile commodity prices is bad for business.

knightofdelta · #37 (**permalink**) 2nd July 2009, 11:05 AM

Quote:

Originally Posted by hispy99

Maybe not...did the workers not embark on a strike action awhile back? That may be responsible for the 32% drop in sales

Have you looked at the profit margin and leverage in this sector? The average net profit margin is 2% and the average debt to equity is 5. The margins are thin and the volatile commodity prices is bad for business. You now add workers' strike on top of it.

tonidol · #38 (**permalink**) 2nd July 2009, 12:46 PM

Quote:

Originally Posted by knightofdelta

Have you looked at the profit margin and leverage in this sector? The average net profit margin is 2% and the average debt to equity is 5. The margins are thin and the volatile commodity prices is bad for business. You now add workers' strike on top of it.

I have never been comfortable with investing in this sector and the only stock l have here was bought in the days of the unknown. " I WAS ONCE BLIND BUT NOW I SEE"

In as much as there is a good volatility in this sector, the liquidity is low but above all, political tendencies determines to a large extent the success and failure of stocks in this sector.

I have never been too comfortable with stuff that is strongly tied to government pronouncements and the way the perennial Niger Delta issues are handled by government also determines a lot. Not to forget that, public sector hawoof comes from this sector and the govt is just too interested.

In the days of Otedola/Dangote saga, AP came as low as N40 but l was just not comfortable plugging in.

My opinion but l hope l can get a buyer for my Eterna Oil someday which is my biggest blunder though the volume l have is quite small.

Any buyer???

hispy99 · #39 (**permalink**) 3rd July 2009, 02:21 AM

Quote:

Originally Posted by knightofdelta

Have you looked at the profit margin and leverage in this sector? The average net profit margin is 2% and the average debt to equity is 5. The margins are thin and the volatile commodity prices is bad for business. You now add workers' strike on top of it.

yeah, I know margins are thin. I assumed Tonidol's "bad omen" comment was related to the drop in turnover and loss recorded. So I was just giving a possible explanation for those issues.

knightofdelta · #40 (**permalink**) 14th July 2009, 09:27 AM

CHEVRON OIL NIGERIA PLC
INTERIM FINANCIAL REPORT FOR THE 1ST QUARTER
ENDED 31-03-2009
2009 2008
TURNOVER N13.893b N8.584b
PROFIT BEFORE TAXATION N238.822m (N282.783m)
TAXATION (N76.423m) N92.152m
PROFIT AFTER TAXATION N162.399m (N190.631m)
BALANCE SHEET INFORMATION
FIXED ASSETS N3.280b N3.804b
STOCK N3.335b N5.208b
TRADE DEBTORS N5.129b N7.841b
CASH AND BANK BALANCES (N1.648b) N316.130m
OTHER DEBIT BALANCES N362.190m N375.053m
TRADE CREDITS N6.824b N11.510b
OTHER CREDIT BALANCES N1.494b N4.085b
WORKING CAPITAL N406.069m (N462.245m)
NET ASSETS N2.139b N1.949b

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