Stock Name: TechOil&Gas
Company Name: TECHNICS OIL & GAS LIMITED
SIAS Research in a Feb 15 research report says: "Technics Oil & Gas Limited (Technics) posted steady 1Q FY2012 results with revenue and PATMI rising 58% and 41% y-o-y to $35.3 million and $4.3 million respectively.
"Its performance was largely in line with expectations and 1Q revenue and PATMI (which are seasonally weaker) formed 23.7% and 20.5% of our FY2012 forecasts. Technics' last quarter PATMI ($2.6 million) was dragged lower by the reclassification of Norr Systems' leases and we are glad to see the recovery of profitability this quarter.
"Going forward, we expect Technics to secure more projects from countries such as Indonesia, Malaysia, Vietnam and the Middle East region. We also like Technics' move to spin off its subsidiaries on the Gretai Securities Market of Taiwan which had a higher valuation for O&G counters. Intrinsic value of $1.35. MAINTAIN INCREASE EXPOSURE."
Company Name: TECHNICS OIL & GAS LIMITED
| Research House: SIAS | Price Call: BUY | Target Price: 1.35 |
SIAS Research in a Feb 15 research report says: "Technics Oil & Gas Limited (Technics) posted steady 1Q FY2012 results with revenue and PATMI rising 58% and 41% y-o-y to $35.3 million and $4.3 million respectively.
"Its performance was largely in line with expectations and 1Q revenue and PATMI (which are seasonally weaker) formed 23.7% and 20.5% of our FY2012 forecasts. Technics' last quarter PATMI ($2.6 million) was dragged lower by the reclassification of Norr Systems' leases and we are glad to see the recovery of profitability this quarter.
"Going forward, we expect Technics to secure more projects from countries such as Indonesia, Malaysia, Vietnam and the Middle East region. We also like Technics' move to spin off its subsidiaries on the Gretai Securities Market of Taiwan which had a higher valuation for O&G counters. Intrinsic value of $1.35. MAINTAIN INCREASE EXPOSURE."
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