Stock Name: Ramba
Company Name: RAMBA ENERGY LIMITED
SIAS Research in a Mar 12 research report says: "Ramba posted a 31.5% y-o-y increase in revenue to $68 million, largely due to greater contribution from the logistics and O&G divisions.
"PATMI stood at –$6.8 million, largely in line with projection, owing to lower segment profit from the O&G division and higher running expenses. We estimated about $30 million increment in FY2012 revenue mainly due to new contracts by the logistics business.
"We are lowering our valuation of Jatirarangon field from US$18.6 million to U$16.3 million as gas flow from JRR-6 was somewhat below expectation. Valuation of the Corridor TAC was also revised to US$7.5 million as we have yet to attain any updates from the management. Intrinsic value of 80 cents. MAINTAIN INCREASE EXPOSURE."
Company Name: RAMBA ENERGY LIMITED
| Research House: SIAS | Price Call: BUY | Target Price: 0.80 |
SIAS Research in a Mar 12 research report says: "Ramba posted a 31.5% y-o-y increase in revenue to $68 million, largely due to greater contribution from the logistics and O&G divisions.
"PATMI stood at –$6.8 million, largely in line with projection, owing to lower segment profit from the O&G division and higher running expenses. We estimated about $30 million increment in FY2012 revenue mainly due to new contracts by the logistics business.
"We are lowering our valuation of Jatirarangon field from US$18.6 million to U$16.3 million as gas flow from JRR-6 was somewhat below expectation. Valuation of the Corridor TAC was also revised to US$7.5 million as we have yet to attain any updates from the management. Intrinsic value of 80 cents. MAINTAIN INCREASE EXPOSURE."
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