Eterna oil

[Barbican]

i heard they are back into profit.

any info?

[tonidol]

Originally Posted by Barbican

i heard they are back into profit.

any info?

What is the source of your info?

[tonidol]

Seems the Eterna Oil was adjusted for the bonus issue today. Can anyone confirm this? It seems to be down to N29 from N35

[hispy99]

Originally Posted by tonidol

Seems the Eterna Oil was adjusted for the bonus issue today. Can anyone confirm this? It seems to be down to N29 from N35

eterna oil was marked down for 1 for 5 today

[hispy99]

ETERNAOIL: 1ST QTR MAR 2008

ETERNAL OIL & GAS PLC, 1ST QUARTER ENDED MARCH 31, 2008

TURNOVER 08 N1.275b, 07 N2.731b

PBT 08 N22.557m, 07 N59.847m

TAXATION 08 NIL 07 (N19.151m)

PAT 08 N22.557m, 07 N40.696m

[billions]

Originally Posted by hispy99

ETERNAOIL: 1ST QTR MAR 2008

ETERNAL OIL & GAS PLC, 1ST QUARTER ENDED MARCH 31, 2008

TURNOVER 08 N1.275b, 07 N2.731b

PBT 08 N22.557m, 07 N59.847m

TAXATION 08 NIL 07 (N19.151m)

PAT 08 N22.557m, 07 N40.696m

when will dis company start performing?

[tonidol]

Eterna proposes to raise fresh funds through PO
Posted Friday, June 6, 2008

-As shareholders calls for Rights



PETER OBIORA

Proshare NI

June 05, 2008 at 16:52 GMT



Eterna Oil & Gas Plc, a player in the Petroleum Marketing Sector of the Nigerian Stock Exchange (NSE) has proposed to raise fresh funds through a Public Offer (PO), while its shareholders have called for a Rights Issue. This was gathered by Proshare NI at the company’s 18th Annual General Meeting (AGM) held today in Lagos Nigeria.



The company has discussed as part of its special business at the AGM to raise equity and/ or debt capital from the general public subject to the approval of regulatory authorities.



However, the shareholders of the company suggested that instead of raising the fresh funds through an offer, it should be done by way of Rights to existing shareholders.



Though as at the time of filling in this report, the amount to be raised, price and date are yet to be decided and made public; until the regulators give their approval.



The company increased its Turnover from N3.512 billion in year 2006 to N4.907 in year 2007 indicating an increase of 40 percent in the period under review.



Eterna Oil did not pay dividend to its shareholders in the 2007 Financial Year End (FYE), rather it gave a bonus of one Ordinary Share of 50 Kobo for every five Ordinary Shares of 50 Kobo held by investors.

[hispy99]

Originally Posted by tonidol

Eterna proposes to raise fresh funds through PO
Posted Friday, June 6, 2008

-As shareholders calls for Rights



PETER OBIORA

Proshare NI

June 05, 2008 at 16:52 GMT



Eterna Oil & Gas Plc, a player in the Petroleum Marketing Sector of the Nigerian Stock Exchange (NSE) has proposed to raise fresh funds through a Public Offer (PO), while its shareholders have called for a Rights Issue. This was gathered by Proshare NI at the company’s 18th Annual General Meeting (AGM) held today in Lagos Nigeria.



The company has discussed as part of its special business at the AGM to raise equity and/ or debt capital from the general public subject to the approval of regulatory authorities.



However, the shareholders of the company suggested that instead of raising the fresh funds through an offer, it should be done by way of Rights to existing shareholders.



Though as at the time of filling in this report, the amount to be raised, price and date are yet to be decided and made public; until the regulators give their approval.



The company increased its Turnover from N3.512 billion in year 2006 to N4.907 in year 2007 indicating an increase of 40 percent in the period under review.



Eterna Oil did not pay dividend to its shareholders in the 2007 Financial Year End (FYE), rather it gave a bonus of one Ordinary Share of 50 Kobo for every five Ordinary Shares of 50 Kobo held by investors.

I thought they did a rights offer just last year? I thought it was only Zenith that did PO every year?

[Dansanda]

Hi, Every body.

At present price, can I make additional investment into this stock?

Please, I need your advice.

[BLUEMONEY]

Originally Posted by hispy99

ETERNAOIL: 1ST QTR MAR 2008

ETERNAL OIL & GAS PLC, 1ST QUARTER ENDED MARCH 31, 2008

TURNOVER 08 N1.275b, 07 N2.731b

PBT 08 N22.557m, 07 N59.847m

TAXATION 08 NIL 07 (N19.151m)

PAT 08 N22.557m, 07 N40.696m

With this result, i dont think they have utilized the money raised from the right issue properly.

[tonidol]

This market is really putting conventional analysis to shame. Despite the not too impressive quarter 1 result, Eterna still gained maximum 5% today.

Could people be taking position for rights issue as proposed by their shareholders instead of the PO being considered.

I somehow believe this stock will do well in the long term and will hold my units. I see the local oil firms blossoming under the present government.

Hope you guys read about the exit of shell from Ogoniland. Well funded local marketing firms may even go into exploration in the long run the way things are going.

[hispy99]

Eterna’ll Pay Dividend Next Year’

THISDAY ONLINE

[billions]

Originally Posted by hispy99

Eterna’ll Pay Dividend Next Year’

THISDAY ONLINE

Pls, does anyone know d num of outstanding shares for dis company?

I have abt 454m units...

[hispy99]

I have 0.5B

[billions]

Originally Posted by hispy99

I have 0.5B

Thanks bro.

[knightofdelta]

the earning per share for the first quarter is 4K and the projected year end figure will come to 12K. At the current price of N31, the forward price earning multiple will come to 258.33x. Now, that is pretty huge, because this means that Eterna Oil and Gas is selling at about 1000% above its fair value of N2.64. What can I say? There are times the market can be quite irrational and whether Eterna Oil and Gas will reflect its true value in the long run is a debatable conjecture

[billions]

Originally Posted by knightofdelta

the earning per share for the first quarter is 4K and the projected year end figure will come to 12K. At the current price of N31, the forward price earning multiple will come to 258.33x. Now, that is pretty huge, because this means that Eterna Oil and Gas is selling at about 1000% above its fair value of N2.64. What can I