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PSE Stock: ENERGY DEVELOPMENT CORP (EDC)

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vgal0579

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Reply #30 on: May 07, 2012, 09:10 AM
Recommendation: Buy

FIRST METRO Securities and Brokerage Corp. has advised investors to include Energy Development Corp. (EDC) shares in their portfolios, pointing to expected gains from the re-opening of the Bacon-Manito (BacMan) power plant.

“The BacMan plant is slated to open next quarter, which should translate to a higher top line,” said research analyst Ghia Paula L. Yuson.

Technical indicators show EDC is on an upward trend, she said. “Its three-month uptrend is still intact and we could still see a follow-through in the next few weeks, assuming the general market remains resilient,” Ms. Yuson said.

EDC shares closed at P6 apiece last Friday, up by 0.17% from Thursday.

Ms. Yuson pegged the stock’s support at P5.85 apiece and immediate resistance at P6.16. She expects EDC’s price-to-earnings ratio to hit 15 times this year, higher than its peers’ 13.6 times but lower the market’s 19 times. — Carmina Angelica C. Valeroso


traxx_13

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Reply #31 on: May 08, 2012, 01:13 PM
Recommendation: Buy

FIRST METRO Securities and Brokerage Corp. has advised investors to include Energy Development Corp. (EDC) shares in their portfolios, pointing to expected gains from the re-opening of the Bacon-Manito (BacMan) power plant.

“The BacMan plant is slated to open next quarter, which should translate to a higher top line,” said research analyst Ghia Paula L. Yuson.

Technical indicators show EDC is on an upward trend, she said. “Its three-month uptrend is still intact and we could still see a follow-through in the next few weeks, assuming the general market remains resilient,” Ms. Yuson said.

EDC shares closed at P6 apiece last Friday, up by 0.17% from Thursday.

Ms. Yuson pegged the stock’s support at P5.85 apiece and immediate resistance at P6.16. She expects EDC’s price-to-earnings ratio to hit 15 times this year, higher than its peers’ 13.6 times but lower the market’s 19 times. — Carmina Angelica C. Valeroso

buy buy buy =D =D =D


vgal0579

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Reply #32 on: May 10, 2012, 10:49 AM
EDC eyes 11-fold hike in profit

By Neil Jerome C. Morales

MANILA, Philippines - Lopez-led Energy Development Corp. (EDC) is looking at growing its earnings by more than 11 times to P7 billion this year as it completes the rehabilitation of a geothermal power plant in Bicol.

It said its profits are expected to continue rising as it earmarks P20 billion for local and overseas exploration projects this year.

EDC president an COO Richard Tantoco said the Bacon-Manito (BacMan) geothermal plant will come onstream in the latter part of this year.

Last year, EDC’s profits slumped 86 percent to P615 million given lower steam sales. Its 150-megawatt (MW) BacMan geothermal power plant, however, will start commercial operations in the fourth quarter this year.

Furthermore, Tantoco said subsidiary Green Core Geothermal Inc. signed P900 million to P1 billion worth of new power supply contracts last December.

Tantoco said P6 billion out of the year’s budget will be allotted for its Burgos wind power project in Ilocos Norte.

“If the feed-in tariff is postponed and delayed and Burgos is moved to next year, that will not be spent,” Tantoco said.

But EDC chief finance officer Nestor Yasay said groups have withdrawn their opposition to the feed-in tariff system, particularly calls to bid out which companies will get perks under the approved 760-MW installation target.

“We are ready. We have prepared the cash for it,” Tantoco said.

The feed-in tariff scheme, whose implementation is already delayed by almost three years, guarantees investments of renewable energy firms through fixed rates that would be shouldered by consumers over a set period of time.

Furthermore, the remaining P14-billion capital will include the P1.4-billion funding for BacMan, P500 million for Green Core, P2 billion for brand new rigs, P2.2. billion for the replacement of wells and an unspecified amount to transfer the equipment of the 49-MW Northern Negros geothermal plant to the Nasulo project in Negros Oriental, Tantoco said.

With the transfer, Green Core will have an additional 25 MW to sell, translating to P1 billion in new revenues per year, Tantoco said.

Tantoco said the company needs no additional funding as it earns cash from existing operations while EDC has P10 billion in cash.

For the international operations, EDC wants to start commercial operations abroad by 2019.

“We are going to move in and push hard in the exploration in Peru,” Tantoco said.

Last week, EDC finalized its takeover of a majority stake in the Longavi geothermal concession in Chile, as well as the Chocopata and Quellaapacheta geothermal authorizations in Peru.

EDC is the world’s largest integrated producer of geothermal power. It is into the exploration, development and optimization of geothermal fields, as well as the operation and maintenance of the geothermal power plants with an aggregate capacity of 1,130 MW.


geloboy1184

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Reply #33 on: Jul 25, 2012, 09:09 AM
EDC drops 2 Chilean projects

The Energy Development Corporation (EDC) said it is not keen on pursuing two geothermal projects in Chile covered by its joint venture agreement with Hot Rock Ltd. (HRL) of Australia.

EDC, the country’s largest geothermal developer, said it has come up with a decision not to pursue the Calerias and Longavi projects with HRL in Chile after results of its initial geoscientific surveys for the areas came out.
 
“EDC’s decision does not have a material effect on EDC’s existing operations and financial condition as such projects were in its preliminary stages for evaluation only,” the firm said in a disclosure to the Philippine Stock Exchange yesterday.
 
The company said it has earlier deployed a full team of geothermal scientists to conduct the initial geoscientific surveys of the Calerias and Longavi projects.
 
“There are still three areas in Chile (that we) acquired on our own and will be working on,” Erudito Recio, EDC investor relations manager, said.
 
“Also, we have a business development team in Chile looking for already owned prospects available for possible joint venture, or even acquisition in Chile. The same team will handle developments of business opportunities in the other Latin American countries,” Recio added.
 
EDC reported in February that it acquired a 70-percent stake in four geothermal projects in Chile and Peru.
 
The company, however, noted it will continue to actively explore the potential of its geothermal projects in Peru under its joint venture agreement with HRL.
 
EDC and HRL commenced the incorporation process of the Chocopata and Quellaapacheta project companies where EDC will own a 70 percent stake.
 
EDC said completion of the transaction remains subject to certain conditions which include confirmatory due diligence and necessary regulatory approvals on the transfer of the geothermal authorizations.


GIG

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Reply #34 on: Aug 01, 2012, 07:42 AM
haaaay another one bites the dust. Lopez over paid for EDC, failed to reactivate Bacman and now this . . . and it was Richard Tantoco who said that the Lopez's are not good managers of business . . .


semikotne

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Reply #35 on: Aug 14, 2012, 02:54 AM
TRC members received emails from Bro. Bo concerning EDC advising them to sell their EDC shares.. 


pmtmember

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Reply #36 on: Jan 30, 2013, 05:19 PM
EDC made a good opening last Monday and continued the ascend on Tuesday but seems a correction might be felt in the coming days as we see an Engulfing Pattern on today's chart. Will it dip to close the gap made last Monday?

Engulfing Pattern needs two candlesticks where the first candlestick is a small green followed by a larger red candlestick that engulfs the green one. The market is in a bull mood and then we see a diminishing buying spree as depicted by the short, green real body. Then it is followed by a selling pressure which lead to a close at or below the previous day’s open. At this point it looks like the bears have the control. But Engulfing Pattern has a medium reliability so we need to see a confirmation by way of a red candlestick, a large gap down or lower close.

Caveat!

EDC, correction please



Rothschild

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Reply #37 on: Jan 30, 2013, 05:52 PM
EDC drops 2 Chilean projects

The Energy Development Corporation (EDC) said it is not keen on pursuing two geothermal projects in Chile ...


if EDC is pursuing other projects outside the Philippines, ibig sabihin wala ng demand sa Pilipinas, wala na silang susuplayan ng koryente? overcrowded na yata ang power producers sa pinas eh...eh di bagsak na ang income nila...
« Last Edit: Jan 30, 2013, 05:56 PM by Rothschild »


intsik51

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Reply #38 on: Jan 30, 2013, 07:41 PM
 :yoohoo: praise God buti naibenta ko last month yung edc ko khit sentimo lang tubo.


robot.sonic

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Reply #39 on: Jan 30, 2013, 10:30 PM
if EDC is pursuing other projects outside the Philippines, ibig sabihin wala ng demand sa Pilipinas, wala na silang susuplayan ng koryente? overcrowded na yata ang power producers sa pinas eh...eh di bagsak na ang income nila...

may mga studies na nagsasabi na kukulangin ang power supply ng pinas kung ma maintain natin ang ganitong growth rate. if im not mistaken sa 2016 yata.


mikoangelo

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Reply #40 on: Mar 01, 2013, 04:42 PM
EDC temporarily shuts down BacMan Unit 2

MANILA, Philippines - Energy producer Energy Development Corp. (EDC) announced that it has shut down its geothermal power plant in Albay province due to vibration issues.

In a disclosure to the PSE on Friday, March 1, EDC said that it shut down "BacMan" Unit 2 of its Bacman Geothermal Project in Sorsogon City after initial inspections have shown that a turbine blade that sheared off caused damage to the unit.

"We recognize the serious nature of this new setback to BacMan Unit 2. We will do everything to determine the cause of this problem, and to ensure that this is completely resolved at the soonest time possible," said EDC President Richard Tantoco.

The company also said that it is temporarily shutting down the operations of Bacman Unit 1 to allow for an inspection. Unit 2 has been operating since February 5.

BacMan 2 has a plant capacity of 20 MW and BacMan 1 has 110 MW.

On February 25, EDC announced that its core net income grew 89% to P9.89 billion in 2012 due to strong electricity sales.

EDC is an affiliate of First Gen Corp, the Lopez Group's power producer.

http://www.rappler.com/business/22824-edc-temporarily-shuts-down-bacman-unit-2
---
mainit init pa:

4 killed in landslide in Leyte geothermal plant

After two weeks of rain, a landslide affected the operations of a Leyte-based geothermal power firm Friday morning, killing four workers while seven are still missing.
 
In a statement, the Energy Development Corporation (EDC) confirmed the casualties, adding that 21 workers were treated while 11 sustained minor injuries.
 
“Two weeks of intermittent rain triggered a landslide late this morning in EDC's Pad 403 of its Upper Mahiao Geothermal Project in Leyte. The Emergency Response Team and all available personnel as well as company resources and equipment have already been mobilized,” the company said.
 
It added the company is coordinating with the families of the killed workers.
 
“A joint EDC-LGU emergency response team is continuing the rescue of the seven missing workers,” the company said.

http://www.gmanetwork.com/news/story/297276/news/regions/4-killed-in-landslide-in-leyte-geothermal-plant

---

Kung minamalas ka naman...

Goodluck sa mga holders...


TSO

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Reply #41 on: Mar 01, 2013, 09:09 PM
Shutting down Bacman again? Really?

Why couldn't they even find this turbine problem while doing the whole repair thing in the past two years? D:


vicces

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Reply #42 on: Mar 01, 2013, 10:23 PM
^yeah, really. And according to Gus Cosio of First Metro, the damage is serious enough that it MIGHT set back its operations to yet another year. :(

And with the late breaking news about that accident above, i expect further selldown on this stock on the next trading day, it might even gap down at the opening. If i am holding this, taking profit/cutting losses will be the first order of the day come Monday. CAVEAT.


dansun

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Reply #43 on: Mar 01, 2013, 11:10 PM
Buti na lang di ako nakabili kahapon, naka pila na ako sa 7.50.... at buti na lang hindi ako naghabol sa price at buti na lang ulit ibinili ko nang MPI...Thank you Lord!  :D :D :D


lemreyes

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Reply #44 on: Mar 02, 2013, 12:19 AM
If this keeps going down, at what price would this be good to pick up?


 


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