RPT EARNINGS POLL-DNO Q4 seen turning into red
17-02-2009 06:26:00
* DNO International ASA Q4 results
* Due on Thursday, Feb. 19, around 0700 GMT
* Operating loss seen at $9.9 mln
OSLO, Feb 16 (Reuters) - Norwegian oil producer DNO
International (DNO) is expected to report an operating loss
for the fourth quarter due to lower oil production, a Reuters
survey of nine analysts showed on Monday.
Operating loss was seen at 68 million Norwegian crowns
($9.90 million) in October through December down from a profit
of 65 million crowns a year earlier, according to the average
estimate in the poll.
DNO has already announced non-cash impairment losses and
write-downs of 920 million crowns in the fourth quarter related
to its oil producing assets in Yemen and stake in Det norske
oljeselskap (DETNOR).
DNO is the first western oil company to drill for oil in
post-war Iraq, but is still waiting for an export licence, which
should give it a better price for its Iraqi oil -- which it now
sells locally.
The company, which has yet to disclose quarterly production
figures from its assets in the Kurdish part of north Iraq, has
repeatedly said it is confident about the validity of its oil
production agreement with the regional Kurdistan authorities
despite an unstable political situation.
DNO will report fourth-quarter earnings on Feb. 19.
DNO's shares are up 6.7 percent in 2009 and the company has
a market value of 4.3 billion crowns ($626 million).
Following is a summary of analysts' estimates for DNO's
results in the fourth-quarter and full-years 2008 and 2009:
(figures in millions of Norwegian crowns, except for
earnings per share, oil price and dividends in crowns, and for
output in barrels of oil equivalent per day):
Estimates for the fourth quarter 2008:
Mean Median High Low No. Yr ago
Total revenue 221 221 225 215 9 365
EBITDA 54 49 116 14 8 182
Operating profit -68 -76 -16 -164 9 65
Pretax profit -808 -793 -644 -1,022 9 14
Net profit -809 -806 -654 -931 9 -30
EPS -0.92 -0.91 -0.74 -1.05 9 -0.03
NRI -849 -920 -712 -920 8 859
Oil price 46.3 45.2 52.4 38.0 8 n/a
Produc per day (boe) 12,422 12,371 12,810 12,135 6 15,478
Target price 7.8 8 10 5.4 9 n/a
Estimates for full year 2008:
Mean Median High Low No. Yr ago
Total revenue 1,379 1,380 1,384 1,373 9 1,320
EBITDA 704 699 766 664 8 808
Operating profit 194 231 291 -257 9 492
Pretax profit -586 -571 -422 -800 9 298
Net profit -735 -732 -580 -857 9 91
EPS -0.83 -0.83 -0.66 -0.97 9 0.10
NRI -866 -947 -739 -947 7 915
Oil price 66.5 65.8 72.3 63.0 5 n/a
Produc per day (boe) 15,482 15,482 15,482 15,482 9 14,462
Estimates for full year 2009:
Mean Median High Low No.
Total revenue 1,734 1,870 2,269 1,085 7
EBITDA 1,014 949 1,480 553 5
Operating profit 487 219 913 136 7
Pretax profit 351 65 910 -55 7
Net profit 202 78 693 -266 7
EPS 0.23 0.09 0.78 -0.30 7
Oil price 47.1 46.1 53.8 42.4 4
Produc per day (boe) 20,465 21,441 26,279 12,700 4
NOTES:
- "No" denotes the number of estimates.
- Data for Reuters Nordics earnings polls compiled by
Inquiry Financial Intelligence. For more details on the
data, please click on www.ConsensusEstimates.com.
- The following brokerages and investment banks participated
in the poll (with stock recommendations in the right-hand
column):
ABG Sundal Collier Buy
Arctic Securities Buy
Carnegie Neutral
DnB NOR Buy
Fondsfinans Buy
Handelsbanken Capital Markets N/A
Orion Securities Buy
Pareto Buy
RS Platou Markets Buy
17-02-2009 06:26:00
* DNO International ASA Q4 results
* Due on Thursday, Feb. 19, around 0700 GMT
* Operating loss seen at $9.9 mln
OSLO, Feb 16 (Reuters) - Norwegian oil producer DNO
International (DNO) is expected to report an operating loss
for the fourth quarter due to lower oil production, a Reuters
survey of nine analysts showed on Monday.
Operating loss was seen at 68 million Norwegian crowns
($9.90 million) in October through December down from a profit
of 65 million crowns a year earlier, according to the average
estimate in the poll.
DNO has already announced non-cash impairment losses and
write-downs of 920 million crowns in the fourth quarter related
to its oil producing assets in Yemen and stake in Det norske
oljeselskap (DETNOR).
DNO is the first western oil company to drill for oil in
post-war Iraq, but is still waiting for an export licence, which
should give it a better price for its Iraqi oil -- which it now
sells locally.
The company, which has yet to disclose quarterly production
figures from its assets in the Kurdish part of north Iraq, has
repeatedly said it is confident about the validity of its oil
production agreement with the regional Kurdistan authorities
despite an unstable political situation.
DNO will report fourth-quarter earnings on Feb. 19.
DNO's shares are up 6.7 percent in 2009 and the company has
a market value of 4.3 billion crowns ($626 million).
Following is a summary of analysts' estimates for DNO's
results in the fourth-quarter and full-years 2008 and 2009:
(figures in millions of Norwegian crowns, except for
earnings per share, oil price and dividends in crowns, and for
output in barrels of oil equivalent per day):
Estimates for the fourth quarter 2008:
Mean Median High Low No. Yr ago
Total revenue 221 221 225 215 9 365
EBITDA 54 49 116 14 8 182
Operating profit -68 -76 -16 -164 9 65
Pretax profit -808 -793 -644 -1,022 9 14
Net profit -809 -806 -654 -931 9 -30
EPS -0.92 -0.91 -0.74 -1.05 9 -0.03
NRI -849 -920 -712 -920 8 859
Oil price 46.3 45.2 52.4 38.0 8 n/a
Produc per day (boe) 12,422 12,371 12,810 12,135 6 15,478
Target price 7.8 8 10 5.4 9 n/a
Estimates for full year 2008:
Mean Median High Low No. Yr ago
Total revenue 1,379 1,380 1,384 1,373 9 1,320
EBITDA 704 699 766 664 8 808
Operating profit 194 231 291 -257 9 492
Pretax profit -586 -571 -422 -800 9 298
Net profit -735 -732 -580 -857 9 91
EPS -0.83 -0.83 -0.66 -0.97 9 0.10
NRI -866 -947 -739 -947 7 915
Oil price 66.5 65.8 72.3 63.0 5 n/a
Produc per day (boe) 15,482 15,482 15,482 15,482 9 14,462
Estimates for full year 2009:
Mean Median High Low No.
Total revenue 1,734 1,870 2,269 1,085 7
EBITDA 1,014 949 1,480 553 5
Operating profit 487 219 913 136 7
Pretax profit 351 65 910 -55 7
Net profit 202 78 693 -266 7
EPS 0.23 0.09 0.78 -0.30 7
Oil price 47.1 46.1 53.8 42.4 4
Produc per day (boe) 20,465 21,441 26,279 12,700 4
NOTES:
- "No" denotes the number of estimates.
- Data for Reuters Nordics earnings polls compiled by
Inquiry Financial Intelligence. For more details on the
data, please click on www.ConsensusEstimates.com.
- The following brokerages and investment banks participated
in the poll (with stock recommendations in the right-hand
column):
ABG Sundal Collier Buy
Arctic Securities Buy
Carnegie Neutral
DnB NOR Buy
Fondsfinans Buy
Handelsbanken Capital Markets N/A
Orion Securities Buy
Pareto Buy
RS Platou Markets Buy
Her er opdaterede ejerforhold i DNO. Ser ud som om at JP Morgan tager godt for sig. På Hegnar (!) tror de på overtagelse når Tawke feltet begynder eksport
Holding Percentage Name Account type Citizenship
48,260,861 5.33 KAS DEPOSITARY TRUST CLIENTS ACCOUNT NON- NOM NLD
45,263,220 5.00 LARSEN OIL & GAS AS NOR
43,873,960 4.85 HSBC BANK PLC. A/C IB CLIENTS SAFE NOM GBR
37,505,889 4.14 JPMORGAN CHASE BANK OPPENHEIMER LENDING NOM USA
23,213,600 2.57 JPMORGAN CAZENOVE A/C CLIENTS ACCOUNT NOM GBR
21,000,000 2.32 ABG SUNDAL COLLIER N EGENHANDELSKONTO NOR
18,517,000 2.05 DEUTSCHE BANK AG LON PRIME BROKERAGE FULL NOM GBR
18,441,037 2.04 CLEARSTREAM BANKING CID DEPT, FRANKFURT NOM LUX
17,500,000 1.93 CORLEONE II AS NOR
14,625,948 1.62 STATE STREET BANK AN A/C CLIENT OMNIBUS D NOM USA
12,000,000 1.33 EGD HOLDING AS NOR
11,707,574 1.29 SIX SIS AG 25PCT NOM CHE
11,191,895 1.24 JPMORGAN CHASE BANK NORDEA TREATY ACCOUN NOM GBR
10,000,000 1.11 DNB NOR LUXEMBOURG S NOR
8,970,940 0.99 STATE STREET BANK & A/C CLIENT FUND NUMB NOM USA
7,447,633 0.82 BANK OF NEW YORK MEL S/A MELLON NOMINEE 1 NOM USA
7,350,247 0.81 NORDEA BANK DENMARK S/A NORDEA (DK) CCA NOM DNK
6,398,700 0.71 MORGAN STANLEY & CO S/A MSIL IPB CLIENT NOM GBR
6,312,330 0.70 GOLDMAN SACHS & CO - SECURITY CLIENT SEGR NOM USA
5,762,791 0.64 DANSKE BANK A/S 3887 OPERATIONS SEC. NOM DNK
375,343,625 41.49
Holding Percentage Name Account type Citizenship
48,260,861 5.33 KAS DEPOSITARY TRUST CLIENTS ACCOUNT NON- NOM NLD
45,263,220 5.00 LARSEN OIL & GAS AS NOR
43,873,960 4.85 HSBC BANK PLC. A/C IB CLIENTS SAFE NOM GBR
37,505,889 4.14 JPMORGAN CHASE BANK OPPENHEIMER LENDING NOM USA
23,213,600 2.57 JPMORGAN CAZENOVE A/C CLIENTS ACCOUNT NOM GBR
21,000,000 2.32 ABG SUNDAL COLLIER N EGENHANDELSKONTO NOR
18,517,000 2.05 DEUTSCHE BANK AG LON PRIME BROKERAGE FULL NOM GBR
18,441,037 2.04 CLEARSTREAM BANKING CID DEPT, FRANKFURT NOM LUX
17,500,000 1.93 CORLEONE II AS NOR
14,625,948 1.62 STATE STREET BANK AN A/C CLIENT OMNIBUS D NOM USA
12,000,000 1.33 EGD HOLDING AS NOR
11,707,574 1.29 SIX SIS AG 25PCT NOM CHE
11,191,895 1.24 JPMORGAN CHASE BANK NORDEA TREATY ACCOUN NOM GBR
10,000,000 1.11 DNB NOR LUXEMBOURG S NOR
8,970,940 0.99 STATE STREET BANK & A/C CLIENT FUND NUMB NOM USA
7,447,633 0.82 BANK OF NEW YORK MEL S/A MELLON NOMINEE 1 NOM USA
7,350,247 0.81 NORDEA BANK DENMARK S/A NORDEA (DK) CCA NOM DNK
6,398,700 0.71 MORGAN STANLEY & CO S/A MSIL IPB CLIENT NOM GBR
6,312,330 0.70 GOLDMAN SACHS & CO - SECURITY CLIENT SEGR NOM USA
5,762,791 0.64 DANSKE BANK A/S 3887 OPERATIONS SEC. NOM DNK
375,343,625 41.49
