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Business, Finance, Occupation & Industry

KOKS Group Announces FY2012 Financial Results

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By Business Wirevia The Motley Fool

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KOKS Group Announces FY2012 Financial Results

  • Lower cost of sales.
  • Growing cash flow from operating activities.
  • Construction of new mines resulting in marginally higher CAPEX.

MOSCOW–(BUSINESS WIRE)– KOKS Group, a vertically integrated company comprised of the world’s largest exporter of merchant pig iron, a leading Russian producer of merchant coke, and coking coal and iron ore assets, announces its financial and operating results for the full year ended 31 December 2012.

From: http://www.dailyfinance.com/2013/04/12/koks-group-announces-fy2012-financial-results/

Key Group Financials

                     
Business, Finance, Occupation & Industry

Octagon 88 and JV Partners – Coring Operation Successfully Completed – Coring Rig Moves to Second We

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By Business Wirevia The Motley Fool

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Octagon 88 and JV Partners – Coring Operation Successfully Completed – Coring Rig Moves to Second Well

CALGARY, Alberta–(BUSINESS WIRE)– Octagon 88 Resources Inc. (OCTX) is pleased to announce the coring activity on the first planned well was successfully completed and the cores taken have been transported to AGAT Labs in Calgary for analysis.

“The samples seen from the cores indicate the oil in the company’s sands contain Lighter Heavy Oil with gas traces which should assist with mobilizing the oil to the well bore.” (Photo: Business Wire)

Coring began at about 417 meters and continued to 459 meters, the targeted bottom of the Bluesky/Gething formation. Eight meters of excellent quality cap rock necessary for enhanced recovery methods, was cored followed by 30 meters of various types of oil bearing sands including those which may produce with primary production without the use of SAGD or CSS methods. The primary production is similar to neighboring oil majors and will bring on production much quicker while substantially reducing CAPEX costs of the project.

The samples seen from the cores at location indicate the oil in the company’s sands contain Lighter Heavy Oil with gas traces which should assist with mobilizing the oil to the well bore. The company is awaiting the results of laboratory analysis expected in two to three weeks to confirm the porosity, permeability and viscosity (type of oil). This will be followed by extensive simulation work to establish the best recovery method. Further development plans of the Bluesky/Gething zones will be forth coming.


“From seismic analysis, the channel is expected to be about 500 to 800 meters in width at the core location. With the approximately 30 meters of oil bearing pay zone, the company has made strong progress toward our scalable production plants objective, starting at 1’200 barrels a day and growing the
 Bluesky project to a potential of 20,000 barrels a day production. Further developments are underway moving to 3D seismic which will further map the zone and provide multiple horizontal drilling locations targeting production in late 2013.”

-CEC North Star Technical Team

With the success of this first core well, the rig is demobilized and is moving to the second location …read more
Source: FULL ARTICLE at DailyFinance

Science & Technology

First Solar Sales Weakness To Drag On Peers

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By 24/7 Wall St.

Alternative Energy sources

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First Solar, Inc. (Nasdaq: FSLR) is out with its financial results for the fourth quarter of 2012. The solar PV-panel maker said that its net sales hit a record $1.1 billion in the quarter, but the big problem here is that Thomson Reuters was calling for sales of $1.32 billion. Wall Street does not care if that is a gain of $236 million from the third quarter of 2012 and a gain of $415 million from the fourth quarter of 2011. The comparable non-GAAP earnings came to $2.04 per share for the quarter and $4.90 per share for full-year 2012. Thomson Reuters was calling for $1.76 per share for the quarter and $4.61 per share for the year.

The sales gain was said to be primarily due to increased revenue recognition for the Topaz project and from higher third-party module sales. Cash and Marketable Securities at the end of 2012 came to $1 billion and its cash flow from operations was $328 million in the fourth quarter.

First Solar gave guidance for sales of $650 to $750 million with 25% to 27% gross margin, and earnings were put in a range of $0.70 to $0.90 per share. The estimates from Thomson Reuters are $828.9 million in sales and $0.94 per share in earnings. Other guidance is as follows: OPEX of $90 to $100 million; Operating income of $70 to $100 million; Tax rate between 11% and 13%; Cash flow from Operations of $0 to $100 million; and CAPEX of $80 to $100 million.

Shares of First Solar ran up way too much since the election with gains of 50% before backing off of late. The stock was down 4.2% to $31.36 at the close and the after-hours reaction has shares down over 5% more at $29.55 against a 52-week range of $11.43 to $37.18. The Thomson Reuters consensus price target before the effect of earnings and guidance was $26.45 for First Solar shares.

Solar stocks already saw their great growth and stocks are now a mere fraction of their former highs. It is going to be very difficult for these companies to sell themselves as cheap value stocks.

Filed under: 24/7 Wall St. Wire, Alternative Energy, Earnings, Earnings Warning, Green Biz, Infrastructure, Utilities Tagged: FSLR

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Source: FULL ARTICLE at DailyFinance