SPC   

SPC

All the large oil companies in the US are down by 1-2% tonight. Wonder if SPC will follow tomorrow morning...hehehe!!!

 

6.33 is the lowest this yr, a good buy alrdy. however, CO still plays the game. no good prediction when is the bottom.

 

True....but SPC buy back for treasury......to keep down the cost of stock option. So, I think they view current price as good value......bear in mind 2Q08 is coming to an end and by now they have a pretty good idea of its performance....and interim divvy to be declared.

So, I think that their buy back is an indication of  their confidence that SPC price will not go much lower.

Personnal opinion.....  

idesa168      ( Date: 12-Jun-2008 22:10) Posted: Buying back own company's share may not always support the price. It depends very much on the mkt sentiment. Like yesterday and today when SPC bought back share, its share price still slide down although quite limited. If without the buy back, I am sure liulian will drop and I will be carry home baskets of liulian...hehehe Now DJ is up 3 digit. I am sure SPC will jump tomorrow. So look like the liulian I am waiting will not drop so soon....kekeke.

 

Buying back own company's share may not always support the price. It depends very much on the mkt sentiment. Like yesterday and today when SPC bought back share, its share price still slide down although quite limited. If without the buy back, I am sure liulian will drop and I will be carry home baskets of liulian...hehehe

Now DJ is up 3 digit. I am sure SPC will jump tomorrow. So look like the liulian I am waiting will not drop so soon....kekeke.

 

SPC bought back their own shares at between $6.26 and $6.33. So this will be a good price to enter???? But personally, I still think below $6 is better... 

 

A summary for today.

Last	Trades	Volume	Bid Volume	Mid	Ask Volume
6.250	3	22,000	22,000	0	0
6.255	1	16,000	0	16,000	0
6.260	38	149,000	84,000	0	65,000
6.270	48	324,000	101,000	1,000	222,000
6.280	56	205,000	97,000	0	108,000
6.290	64	307,000	81,000	72,000	154,000
6.293	1	7,000	0	7,000	0
6.299	1	7,000	0	7,000	0
6.300	29	128,000	68,000	0	60,000
6.310	88	687,000	358,000	0	329,000
6.320	73	611,000	148,000	0	463,000
6.321	1	12,000	0	12,000	0
6.330	74	526,000	287,000	0	239,000
6.340	12	54,000	0	2,000	52,000
TOTAL	489	3,055,000	1,246,000	117,000	1,692,000

 

good 4 shorting 2morrow???

 

A summary for today.

Last	Trades	Volume	Bid Volume	Mid	Ask Volume
6.210	2	7,000	7,000	0	0
6.220	10	42,000	34,000	0	8,000
6.230	7	14,000	6,000	0	8,000
6.240	32	90,000	69,000	0	21,000
6.250	43	247,000	157,000	0	90,000
6.260	101	262,000	129,000	0	133,000
6.270	39	109,000	87,000	0	22,000
6.280	78	219,000	114,000	0	105,000
6.283	1	3,000	0	3,000	0
6.290	86	723,000	265,000	2,000	456,000
6.291	1	100,000	0	100,000	0
6.300	35	260,000	61,000	0	199,000
6.310	44	398,000	131,000	0	267,000
6.315	1	2,000	0	2,000	0
6.320	34	311,000	140,000	0	171,000
6.327	1	67,000	0	67,000	0
6.328	1	13,000	0	13,000	0
6.330	20	120,000	36,000	0	84,000
6.340	32	163,000	85,000	9,000	69,000
6.348	1	24,000	0	24,000	0
6.350	18	308,000	66,000	170,000	72,000
6.360	9	39,000	26,000	0	13,000
TOTAL	596	3,521,000	1,413,000	390,000	1,718,000

 

if tonite CO weaken again, then 2morow u need to reconsider leow.

 

wah, even bloomberg makes errors..

either way, lewlian definitely got refineries in sg, so it will make this 50% more for every barrel..

 

 

Well, in this case, the Bloomberg report has erred. I too made a mistake...the S&P of SRC was in 2004 (not 2005)

http://www.spc.com.sg/investorcentre/press_details.asp?id=795

Yokozuna      ( Date: 11-Jun-2008 17:27) Posted: hmm.. then how come they still make $ from sg refineries? http://www.bloomberg.com/apps/news?pid=20601072&sid=ayzkpjllO9nU&refer=energy

 

hmm.. then how come they still make $ from sg refineries?

http://www.bloomberg.com/apps/news?pid=20601072&sid=ayzkpjllO9nU&refer=energy

 

BP got no refinery in Spore. It sold its one third share of SRC to the other 2 shareholders (SPC and Caltex) in 2005.

Yokozuna      ( Date: 11-Jun-2008 17:07) Posted: bro, if BP earns 50+% more per barrel from it's singapore refineries, wouldn't the lewlian be earning around 50% more as well this quarter? plucked from cna forum: "The company (BP) earned the most from its refineries in Singapore, where it reported a profit of $9.68 a barrel, compared with $6.01 a year ago."

 

bro, if BP earns 50+% more per barrel from it's singapore refineries, wouldn't the lewlian be earning around 50% more as well this quarter?

plucked from cna forum:

"The company (BP) earned the most from its refineries in Singapore, where it reported a profit of $9.68 a barrel, compared with $6.01 a year ago."

 

#$%^&*....SPC up today....I join you NO $6 NO BUY...hehehe

ozone2002      ( Date: 11-Jun-2008 14:56) Posted: dbs call for buy for SPC also no power..target 8.22 lei..12 mth target la..keke still sticking to my "no below $6 no buy" stance

 

dbs call for buy for SPC also no power..target 8.22 lei..12 mth target la..keke

still sticking to my "no below $6 no buy" stance

 

I would normally view these analysts report with a pinch of salt.

Report says:

1.  Share price dropped 13.2% in 2 weeks - agree. But that does not represent SPC will not slide further.

2.   High Crude Oil translate into better earning - agree to certain extent. E&P activities will significantly improved in their earning to SPC's bottom line. It could jump 100-200% in earning compared to last year. However, E&P started from a low base, a slight improved earning will represent huge jump in percentage.

3.  E&P is just a mere 3% of the overall earning last Quarter. So high CO will not improve earning overall. If RM improved, we will see significant jump in earning.

4.  Yield 10%??? I thought was 8-9% only. How come becomes 2 digit yield.

So I am still holding on my horses, waiting for the liulian to drop lah...hehehe...still squating there.

Yokozuna      ( Date: 11-Jun-2008 12:02) Posted: dun keep squatting, catch some small lewlians 1st la.. 0112 GMT [Dow Jones] STOCK CALL: DBS Vickers upgrades Singapore Petroleum Co. (S99.SG) to Buy from Hold, saying 13.2% fall within 2 weeks to 4-month low offers good reentry opportunity. Raises target price to S$8.22 from S$7.84 after raising FY08-09 earnings forecasts 8.4%, 10.1% respectively to reflect current strong crude prices; "as crude price continues to break new highs, earnings contribution from exploration & production will be rising significantly." Notes dividend yield attractive at 10% based on current price levels. Stock off 0.6% at S$6.28. (FKH)

 

dun keep squatting, catch some small lewlians 1st la.. 0112 GMT [Dow Jones] STOCK CALL: DBS Vickers upgrades Singapore Petroleum Co. (S99.SG) to Buy from Hold, saying 13.2% fall within 2 weeks to 4-month low offers good reentry opportunity. Raises target price to S$8.22 from S$7.84 after raising FY08-09 earnings forecasts 8.4%, 10.1% respectively to reflect current strong crude prices; "as crude price continues to break new highs, earnings contribution from exploration & production will be rising significantly." Notes dividend yield attractive at 10% based on current price levels. Stock off 0.6% at S$6.28. (FKH)

 

Why would liulian dropping slowly day by day be a prolonged painful death for some?
Trust those who couldn't stand the heat would have exited long ago.   

 I do agree that if SPC goes straight down and rebound would make everybody happy. 

idesa168      ( Date: 11-Jun-2008 10:49) Posted: liulian is dropping, but very slowly day by day. A prolonged painful death for some, and a polonged wait for ppl like myself squating at the corner waiting to hear a loud "BOOM" sound. Why can't SPC goes straight down to below $6.00 and rebound from there straight away. Like that everyone will be happy!!!

 

liulian is dropping, but very slowly day by day. A prolonged painful death for some, and a polonged wait for ppl like myself squating at the corner waiting to hear a loud "BOOM" sound. Why can't SPC goes straight down to below $6.00 and rebound from there straight away. Like that everyone will be happy!!!