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Gold/Mining/Energy : Petrokazakhstan Inc.
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To: Thomas Kelly who wrote (877)3/4/2000 2:14:00 AM
From: Dean O'Dell  Read Replies (2) of 2357
 
Press Release Interpretation....This is mine, what's yours?

99' yr. net income of U.S. .19/share of which .29/share came from gain on sale of assets. Meaning a 1999 loss of (.10/share)-- large improvement from (5.18) in 1998.

4th qtr. 99' per share was reported in Canadian $'s (trickery?), so I've converted to U.S. 4th qtr. earnings was .25/share except that the gain of .29/share was in the 4th quarter, therefore the 4th qtr showed a loss of (.04/share) compared with 98 4th qtr of ($3.25/share)--another large improvement.

Best yet, combined with the refinery's 4th qtr 99' the earnings are .63/share U.S. This means the refinery produced .67/share in earnings in the 4th qtr.

In 1997, before Hurricane got in trouble, they averaged about .45/share for yearly earnings. With increased production and the higher cost of oil, I would think they should be able to earn near $1/share in 2000 or .62/share after the merger and dilution.

So....the combined yr. 2000 earnings per share of Hurricane and the refinery would be near that of today's closing price. And our new CEO has been loading up on this stock. I'm starting to feel pretty good. $3.00 to $3.50/share in earnings and a P.E. of 8 puts us at $24 to $29/share. Welcome some other views.
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