(Oct. 23, 2009 - Scott Lin) SUMMARY: We recommend a BUY rating on CNOOC Ltd (NYSE:CEO), as we expect a continuous strong recovery in earnings in the short term. CNOOC has increased oil production above its peers (Sinopec and Petrochina) in recent times and is set to continue this trend with further discoveries and projects in the pipeline. The earnings recovery is supported by a recovery in crude oil prices.
Strong oil production
CNOOC Ltd. (NYSE:CEO) outperformed Petrochina (NYSE:PTR) and Sinopec (NYSE:SNP) in crude oil production growth in first half results in 2009 with a 15.2% year-on-year increase. The main reason is due to CNOOC’s commencement in production in new projects in 2008 and first half 2009. These new projects include OML 130, Tanguh LNG and Bozhong 28-2S. Strong growth in production is set to continue with ten new exploration discoveries and eight new appraisals. All in cost for crude production increased by 3.9%, year-on-year.
(Oct. 9, 2009 - Guest Contributor) Editor's note: The following article was written by Zou Soueidan of GeoInvesting. The "GeoTeam" of researchers and analysts uses fundamental criteria to analyze mic...
(Sept. 23, 2009 - Jiajun Yang) China Eastern Airlines (NYSE:CEA), the dominant Chinese carrier off Shanghai, ran up 125% YTD with a strong 15% advance in September. While the latest run is explained...
(Sept. 21, 2009 - Zou Soueidan) On September 18, 2009 ($0.38) we coded China Growth Development (OTC:CGDI) as a GeoSpecial due to the stock selling below its book value per share. It's price ende...
(Sept. 14, 2009) New Oriental Education and Technology Group Inc. (the "Company") (NYSE: EDU), is the largest provider of private educational services in China. It was established in 1993 and went pu...
(Sept. 11, 2009 - Yan Ling Choo) Report is available in pdf format: CV_CHL_2009_Q2_2.pdf
Rating: BUY
A BUY rating is recommended on China Mobile (NYSE:CHL). Despite facing a number of challenges ...
(Sept. 7, 2009) Revenue and earnings growth analysis following 2009 first six months (2009 H1) financial results. The below charts show the results for Petrochina (NYSE:PTR) across three six months pe...
(Aug 28, 2009 - Chinavestor) China Unicom (NYSE:CHU), the second largest Chinese mobile carrier after China Mobile (CHL), reported 2009 H1 interim results today. Total revenues amounted to RMB76.32 bi...
2009 Second Quarter Financial results
2nd Qtr. 2009
2nd Qtr. 2008
Period Change
GAAP Revenue
$21.0 million
$13.4 million
57.0%
GAAP EPS a
$0.22
$0.12
83.3%
Tax Rate
2...
