Blue Dolphin Energy Company (BDCO)

[snow]

modes What you post here explains why BDCO did a very good first quarter which was much better than I had expected. RD has stted that he thinks expenses of refining the crude amount to about 15 dollars per barrel. Let us assume that is correct. It would result in pre-tax profits of about 20 dollars per barrel at the end of February. A crack spread of about 20 dollars per barrel for diesel and jet fuel now would result in pre-tax profits of about 5 dollars per barrel, which is 25% of the pre-tax profits in the first quarter. Moreover, in the second quarter the refinerey did not have full production. Earnings per share were as far as I remember somewhat above 1 dollar per share in the first quarter. The earnings per share in the second quarter could based on the above facts be expected to be less than 25 cents per share.