Year-end result

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jurek

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Year-end result

posted on Mar 11, 2009 02:33PM

Year-end result will be release next week. Some of you refer to it in recent posts.

I think the results on the earnings side will look very good. Realized gain from the currency hedging will add about 40 cents to the net earnings as one time item unrelated to operational earnings. This, as it should, will be expose in the big headlines.

October was good as well. Things fell a part in November and December when POD1 was loosing $5 to $10/bbl. Forgetting the Q4 cash flow and earnings, 2008 year end result will be good and better then 2007.

If you look at the energy sector most of the companies are reporting in Q4/2008 very good results. Did it make the difference for the share price performance? Not that much.

Why? Because of forward looking statements and much lower Oil and NG prices expected in Q1/2009. This will be the most important part of the CLL 2008 financial. Personally I will look for covenants and forward looking statements including expected CLL 2009 free cash flow and how it may cover the interest expenses.

Not so good day on the market. WTI Oil dropped today bellow $43/bbl which is kine of explain by my 'Conspiracy Theory" in WTI blues post .