Stock Name: Ramba
Company Name: RAMBA ENERGY LIMITED
Research House: SIAS
SIAS Research in a May 19 research report says: "Ramba Energy Ltd (Ramba) registered a healthy 17.7% y-o-y growth in revenue to $13.4 million for 1Q FY11. The $2.0 million increment was largely attributed to higher sales from the Jatirarangon block and greater contribution from the logistics business.
"However, bottom line was affected by escalating oil prices (which affected the logistic business) and higher consultation fees from the Indonesian operations. The company has taken actions to improve the logistics business' margins by implementing fuel surcharge.
"We are also adjusting our FY2011F PATMI from $2.4 million to $0.2 million to take into account the higher costs. At the same time, we have adjusted the value of Ramba's energy fields owing to more promising estimates. Intrinsic value of 80 cents per share. MAINTAIN INCREASE EXPOSURE."
Company Name: RAMBA ENERGY LIMITED
Research House: SIAS
SIAS Research in a May 19 research report says: "Ramba Energy Ltd (Ramba) registered a healthy 17.7% y-o-y growth in revenue to $13.4 million for 1Q FY11. The $2.0 million increment was largely attributed to higher sales from the Jatirarangon block and greater contribution from the logistics business.
"However, bottom line was affected by escalating oil prices (which affected the logistic business) and higher consultation fees from the Indonesian operations. The company has taken actions to improve the logistics business' margins by implementing fuel surcharge.
"We are also adjusting our FY2011F PATMI from $2.4 million to $0.2 million to take into account the higher costs. At the same time, we have adjusted the value of Ramba's energy fields owing to more promising estimates. Intrinsic value of 80 cents per share. MAINTAIN INCREASE EXPOSURE."
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