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Insider trades reported: Executive Chairman/ CEO Mr PT Tan of FalconEne bought 4.7 m shares at 53 cts recently.
Vote of confidence?
Falcon Energy fell sharply to the 62% Fibo 's retracement zone at 50 cents yesterday . If it has to make a technical rebound , then Falcon Energy would go up to fill the gap at 57 cents . When the rebounce completed , it would resume the downtrend to go down to 40 cents technically .
Yup, got chance for tech rebound.
trendlines ( Date: 21-May-2010 21:17) Posted:
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technical analysis done..
go to my blog for chart reference -->http://www.hahalolmix.blogspot.com/
Hello E-war,
May not have to buck the trend - a short-term bounce is possible next week in world markets. But, who knows?
For FE, i suggest caution and discipline in trading: technical analysis on low volume stocks is not as reliable.
Good luck. :)
You think FE can buck the trend on Mon? :)
Falcon Energy oversold with +ve divergence. Looking for a short-term bounce towards .60
This is my interpretation of the Q1 results. I feel that the results are decent but not as fantastic as what the press results suggest.
1) Comparing Q1-2010 and Q1-2009, a major difference contributing to the increase in revenue and profit is that Longzhu Oilfield's results are included now but not a year ago.
2) Gross profit margin has in fact dropped from 58.2% to 55.0% year on year.
3) It is more relevant to look at the earnings per share, as the company placed out 100+mil new shares in the past year (resulting in about 15% dilution). EPS was 0.99 US cents in Q1-2010 versus 0.62 US cents a year ago. The increase in EPS is thus about 60% (less than the 87% increase in total profit). Still not too bad.
4) I was trying to find the Q4-2009 results but FEG reported only on half yearly basis previously. By dividing the H2-2009 results by 2, I estimate Q4-2009 revenue to be US$31mil and profit US$9mil. The Rev/Profit in 1Q-2010 is US$18mil/8mil. Of course, seasonality plays an important part, but quarter-on-quarter, revenue probably declined sharply and profit is either flat or declined slightly.
SINGAPORE, 12 May 2010 – MAINBOARD-LISTED Falcon Energy Group Limited
(FEG) today announced a net profit after tax and non-controlling interest of US$8.1 million for the three months to 31 March 2010, up 87% over the US$4.3 million it achieved for the previous corresponding period.
Group revenue, at US$18.1 million, was 85% higher than the previous US$9.8 million that it achieved previously. The strong growth in turnover was driven largely by revenue from its Marine Division which registered the lion’s share at US$13.2 million or 73% of total revenue. The increase was due largely to the contribution from two additional vessels compared to the previous corresponding period. This was followed by Oilfield Services Division which achieved US$3.0 million or 17% resulting from the inclusion of three months’ contribution from Longzhu Group of Companies. Project Division made up the remaining US$2.0 million.
Along with the increase in revenue, gross profit saw an increase of 75% or US$4.3 million from US$5.7 million recorded in the preceding corresponding period. Gross profit margin for the Marine Division was 64%, an improvement from 62% previously while for Oilfield Services Division, the margin declined marginally from 36% to 35%. The gross profit margin for Project Division was approximately 27%. This resulted in a slightly lower average gross profit margin for the Group at 55% for the three months ended 31 March 2010 against 58% in the preceding period.
Mr. Tan Pong Tyea, FEG’s Chairman and Chief Executive Officer, said he was very pleased with the overall financial and operational performance in the quarter. He said:
“First quarter results were driven by continued strong momentum in our core
businesses in the region, a sustained focus on expense control and capital
management. Overall, the results reflect the benefits of our geographic diversity and exposure to a diverse range of economies as well as the successful exploitation of opportunities in the region."
Look pretty stable.
Support 0.705
1st Resistant 0.765
2nd Resistant 0.885
The extract is from a local broking house:
Marine & Offshore
Falcon Energy (FALE SP) ‐ Spreading its wings
�� FEG operates one of the world’s largest fleets of work/accommodation barges, which
serve as vital workstations for offshore production rigs. Its recent acquisition of a
29.1% stake in CHO is a good strategic move, bringing with it a younger deepwater
AHTS fleet and new clientele in Latin America and Australia. We are initiating
coverage on FEG with a BUY recommendation and target price of $0.99.
We expect FEG to double its earnings by FY12 as it pursues fleet expansion and
embarks on new Mid‐
East oilfield projects. Ourtarget price of $0.99 ispegged at an undemanding
11x FY11 PER or 0.4x PEG. This leaves room for re‐rating on the successful execution of its expansion plans and integration with CHO.
What happen to falcon not moving............................... Any bad news?
Now can see 0.655c so what is the support level?
can share u are vested at what price & how many lots in tis falcon?
today's closing 67 cts i think is lowest level since 15th july, perhaps should see a imminent rebound very soon
beidou ( Date: 02-Mar-2010 18:46) Posted:
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23 Feb 10. In this same report (or highlight), it has the following valuation for this counter.
Valuation: Following the announcement of the proposed acquisition and possible expansion from the proceeds raised through the Sep 2009 placement, Falcon is on its way to realize bulk of the growth we had previously forecasted into the company. Earnings are likely to be inflated subsequent to the completion of the above deals. However, the balance sheet of the group seems to be slightly overstretched and is likely to increase Falcon’s borrowing cost from banks. Hence, we increase the cost of debt to 6.5%, from 6% previously. With that, we arrive at an intrinsic value of S$1.01 and maintain our Increase Exposure call on Falcon Energy.
Why its share price is so weak this past few days: Don't know. I can only guess: overall market sentiment is still weak and people were waiting for the annoucement of the company's results. Now that the results are out, some would sell on facts, some may decide to buy more but waiting for the right price to enter.
when was tis sias' report dated? btw, why is falcon's share price so weak this past few days?
beidou ( Date: 25-Feb-2010 00:10) Posted:
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Falcon had already paid 0.5 cts as interim CD few months ago. The final CD is 1 cts which is not paid out yet. So if u own Falcon shares now and hold them until XD date, u will be entiled to the 1 cts final CD only.
yeah!!! vested in this alr.
Can someone explain to me this :(Total dividend pay out is 1.5 cts if interim CD of 0.5 cts is included).
does it mean i have to hold before CD and after XD?
beidou ( Date: 01-Mar-2010 23:51) Posted:
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SINGAPORE, 1 March 2010 – MAINBOARD-LISTED Falcon Energy Group Limited
(FEG) today announced a net profit after tax and minority interest of US$28.1 million
as at 31 December 2009, compared to US$27.6 million it achieved for the adjusted 12
months to 31 December 2008.
Group turnover, at US$89.2 million, was 51% higher than the previous US$59.1
million that it achieved during fiscal 2008. The Group’s Marine Division, Oilfield
Division and Project Division achieved US$43.0 million, US$39.7 million and US$6.5
million respectively. The strong growth in turnover partly reflected the eight months’
contribution from Longzhu Group of Companies to the Oilfield Division which totalled
approximately US$30.7 million. The increase in Group revenue was driven largely by
revenue from its Marine and Oilfield Divisions segment which made up more than 90%
of total turnover.
Company declared a final dividend of 1 cts. (Total dividend pay out is 1.5 cts if interim CD of 0.5 cts is included).
SIAS's latest research report has a price target of $1.01 for this counter. Yes, I think this babe should move north from here if there is no steep correction in the overall market.