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KLSE: VELESTO       VELESTO ENERGY BERHAD
Last Price Avg Target Price   Upside/Downside Price Call
0.285 0.34     +0.055 (19.30%)
* Average Target Price, Price Call and Upside/Downside are derived from Price Targets in the past 6 months.
** Price Targets are adjusted for Bonus Issue, Shares Split & Shares Consolidation (where applicable).
Date Open Price Target Price Upside/Downside Price Call Source News
10/08/2018 0.295 0.34 +0.045 (15.25%) BUY HLG Price Target News
10/08/2018 0.295 0.35 +0.055 (18.64%) BUY Affin Hwang Capital Price Target News
30/07/2018 0.31 0.34 +0.03 (9.68%) BUY HLG Price Target News
30/07/2018 0.31 0.33 +0.02 (6.45%) BUY BIMB Price Target News
30/07/2018 0.31 0.24 -0.07 (22.58%) HOLD AmInvest Price Target News
30/07/2018 0.31 0.35 +0.04 (12.90%) BUY Affin Hwang Capital Price Target News
25/07/2018 0.295 0.34 +0.045 (15.25%) BUY HLG Price Target News
25/07/2018 0.295 0.35 +0.055 (18.64%) BUY Affin Hwang Capital Price Target News
04/07/2018 0.285 0.34 +0.055 (19.30%) BUY HLG Price Target News
04/07/2018 0.285 0.33 +0.045 (15.79%) BUY BIMB Price Target News
04/07/2018 0.285 0.24 -0.045 (15.79%) HOLD AmInvest Price Target News
04/07/2018 0.285 0.35 +0.065 (22.81%) BUY Affin Hwang Capital Price Target News
28/05/2018 0.29 0.39 +0.10 (34.48%) BUY HLG Price Target News
28/05/2018 0.29 0.24 -0.05 (17.24%) HOLD AMMB Price Target News
25/05/2018 0.29 0.39 +0.10 (34.48%) BUY HLG Price Target News
25/05/2018 0.29 0.33 +0.04 (13.79%) TRADING BUY BIMB Price Target News
25/05/2018 0.29 0.24 -0.05 (17.24%) HOLD AMMB Price Target News
25/05/2018 0.29 0.35 +0.06 (20.69%) BUY Affin Hwang Capital Price Target News
13/03/2018 0.305 0.44 +0.135 (44.26%) BUY HLG Price Target News
01/03/2018 0.315 0.44 +0.125 (39.68%) BUY HLG Price Target News
01/03/2018 0.315 0.30 -0.015 (4.76%) HOLD AmInvest Price Target News
28/02/2018 0.31 0.44 +0.13 (41.94%) BUY HLG Price Target News
28/02/2018 0.31 0.39 +0.08 (25.81%) HOLD AMMB Price Target News
28/02/2018 0.31 0.40 +0.09 (29.03%) BUY Affin Hwang Capital Price Target News


Price Target Research Article/News (past 6 months)
10/08/2018  HLG Velesto Energy - Award of Two Drilling Contracts
10/08/2018  Affin Hwang Capital Velesto Energy - Bagged US$10.8m Contracts
30/07/2018  HLG Velesto Energy - Bags USD25m Drilling Contract
30/07/2018  BIMB Velesto Energy - Secure jobs for NAGA 7
30/07/2018  AmInvest Velesto Energy - Naga 7 charter from Shell
30/07/2018  Affin Hwang Capital Velesto Energy - New Drilling Contract Secured
25/07/2018  HLG Velesto Energy - Turnaround Story Still Intact
25/07/2018  Affin Hwang Capital Velesto Energy - Firing Up the Rigs
04/07/2018  HLG Velesto Energy - Bagged USD31m Drilling Contract
04/07/2018  BIMB Velesto Energy - Replenish orderbook for NAGA 4
04/07/2018  AmInvest Velesto Energy - Naga 4 resumption with Roc Oil charter
04/07/2018  Affin Hwang Capital Velesto Energy - Secured Contract for NAGA 4
28/05/2018  HLG Velesto Energy - Positive outlook on 1Q18 briefing
28/05/2018  AMMB Velesto Energy - Short-term charters cloud earnings visibility
25/05/2018  HLG Velesto Energy - Good start with a new name
25/05/2018  BIMB Velesto Energy - 1QFY18 - Improving prospects Price Chart (RM
25/05/2018  AMMB Velesto Energy - No relief from weak rig charter rates with new name
25/05/2018  Affin Hwang Capital Velesto Energy (BUY, Maintain) - Profit for 2018 Looking Possible
13/03/2018  HLG UMW Oil & Gas - HWU Umbrella Contract Secured
01/03/2018  HLG UMW Oil & Gas - 4QFY17 Briefing
01/03/2018  AmInvest UMW Oil & Gas Corporation - Huge share base mitigates better bottomline outlook
28/02/2018  HLG UMW Oil & Gas - 4Q17 Outperformed
28/02/2018  AMMB UMW Oil & Gas Corporation - Breaking even at near full rig utilisation
28/02/2018  Affin Hwang Capital UMW-OG - Post Restructuring Should See Improvement



  19 people like this.
 
263263 Time to buy, media look bad.
30/07/2018 22:38
eatsmall luncai betul...
31/07/2018 11:55
Stephenloo How come the news with 101mil secure income still no movement for this counter?
31/07/2018 12:42
263263 One day price up to 40cent without news.
Growing time coming soon.
Now need to wait.
31/07/2018 13:57
anonymous98 coming soon? how soon lol
31/07/2018 17:29
OngMoneyOng Manipulated stock but earn money wat for those who buy at bottom. Ong lah
31/07/2018 17:31
ankahill Up 0.5 sen. now drop 1 sen. hahhaa
02/08/2018 14:24
princeofthi3ves Hahahaha
02/08/2018 15:11
OngMoneyOng So??? Earn money tak?
02/08/2018 22:03
OngMoneyOng Earned money diam diam lol
02/08/2018 22:05
263263 Every time price drop is chance to us ,,,,collection.
03/08/2018 08:02
ankahill Today up .05 sen... next monday drop 1 sen again!?
03/08/2018 08:41
IronShirt amanah has stopped throwing. Before 2Q results--amanah will pump 100m again---this time will
push to 0.34
08/08/2018 09:26
jumbojet Stupid counter
08/08/2018 11:54
IronShirt very big lots traded on 11:54am,,,,,,mostly 1m (0.295) a Bid---really big,,,must be amanah or kwap
08/08/2018 11:54
263263 Quarter result should be good.
Over expection
08/08/2018 12:11
choong all counters shoot up like dunno how, this counter still lagging.... sigh...
08/08/2018 15:46
Jonathan Keung share base too big
09/08/2018 15:59
Nikmon wah, someone just sell 2 million, haha
09/08/2018 16:24
KEYBOARD im coming home ...
09/08/2018 16:32
eatsmall korek at Naga 3.....3...3..sure UP
09/08/2018 19:24
snwong13 .
OTHERS AWARD OF CONTRACTS FOR THE PROVISION OF JACK-UP DRILLING RIGS (NAGA 3 AND NAGA 5) FOR PETRONAS CARIGALI SDN BHD
VELESTO ENERGY BERHAD

Type Announcement
Subject OTHERS
Description AWARD OF CONTRACTS FOR THE PROVISION OF JACK-UP DRILLING RIGS (NAGA 3 AND NAGA 5) FOR PETRONAS CARIGALI SDN BHD
1. INTRODUCTION

The Board of Directors of Velesto Energy Berhad (“VEB”) (formerly known as UMW Oil & Gas Corporation Berhad) is pleased to announce that Velesto Drilling Sdn Bhd (“VED”) (formerly known as UMW Offshore Drilling Sdn. Bhd.), a wholly-owned subsidiary of Velesto Malaysian Ventures Sdn Bhd (“VMV”) (formerly known as UMW Malaysian Ventures Sdn. Bhd.), which in turn is a wholly-owned subsidiary of VEB, has received two (2) Letter of Awards from PETRONAS Carigali Sdn. Bhd. (“PETRONAS Carigali”), for the provision of jack-up drilling rig services (“Contracts”), the approval of which was received, today.

The Contracts are for two jack-up rigs, namely NAGA 3 and NAGA 5, with an estimated combined contract value of USD10.8 million.

Details of each of these contracts are summarized below:

2. DETAILS

2.1 Provision of Jack-Up Drilling Rig “NAGA 3”

The first Contract is for the provision of Drilling Rig Services for PETRONAS Carigali’s Drilling Programme, whereby VEB Group will assign its NAGA 3 for this. The Contract is to drill two (2) firm wells with an option of additional one (1) plus one (1) wells, with expected commenced date, between 15 July 2018 to 15 August 2018.

NAGA 3 is a premium independent-leg cantilever jack-up drilling rig that has a drilling depth capability of 30,000 feet and has a rated operating water depth of 350 feet.

2.2 Provision of Jack-Up Drilling Rig “NAGA 5”

The second Contract is for the provision of Drilling Rig Services for PETRONAS Carigali’s Drilling Programme, whereby VEB Group will assign its NAGA 5 for this. The Contract is to drill two (2) firm wells with an option of additional two (2) wells, with expected commencement date, between 1 August 2018 to 31 August 2018.

NAGA 5 is a premium independent-leg cantilever jack-up drilling rig that has a drilling depth capability of 30,000 feet and has a rated operating water depth of 400 feet.


3. INFORMATION ON PARTIES

3.1 Information on Velesto Drilling Sdn. Bhd.

VED was incorporated in Malaysia under the Companies Act, 1965 on 29 July 2003 and is principally involved in the offshore drilling business and operations and other engineering services for oil and gas exploration, development and production in Malaysia and overseas.

3.2 Information on PETRONAS Carigali

PETRONAS Carigali is a company incorporated in Malaysia under the Companies Act, 1965 on 11 May 1978 and has its registered office at Tower 1, PETRONAS Twin Towers, Kuala Lumpur City Centre, 50088 Kuala Lumpur, Malaysia. The principal activities of PCSB are the exploration, development and production of oil and gas.


4. FINANCIAL EFFECTS

The provision of the above mentioned services is expected to contribute positively to the earnings and net assets of VEB Group during the contract period for the financial period ending 31 December 2018.


5. RISK ASSOCIATED WITH THE CONTRACTS

The risks associated with the execution of the Contracts are operational and execution risks, which will be mitigated and/or managed by VED, a company with a proven successful track record of undertaking drilling programmes.


6. DIRECTORS AND SUBSTANTIAL SHAREHOLDERS INTEREST

None of the Directors and/or the substantial shareholders of VEB and/or persons connected with the Directors and/or substantial shareholders have any interest, direct or indirect in the above Contracts.


7. STATEMENT BY DIRECTORS

The Board of Directors of VEB is of the opinion that the acceptance of the Contracts herein is in the best interest of VEB Group.

This announcement is dated 9th August 2018.
09/08/2018 20:29
100000668624314 Got annouance also still ding dong at 0.30 only ...... :(
10/08/2018 10:26
eatsmall bling..bling..bling..ding dongggg..
10/08/2018 10:28
Yael Jasper nice to buy
10/08/2018 10:47
Ethan Chan i think alot ppl are waiting for qr before making a move
11/08/2018 16:22
anonymous98 when will qr be releasing?
11/08/2018 17:58
JJchan This coming Friday if results is Very Good-----Push beyond Hari Haji to 24 Aug means average.
12/08/2018 17:46
IronShirt Starting from last week, Velesto trading Volume is slowing more than Sapnrg. Punters are moving
here.
13/08/2018 09:55
13/08/2018 09:58
286210 http://www.theedgemarkets.com/article/og-profits-under-spotlight-signs-real-recovery
13/08/2018 10:03
286210 Bottomline nos are much better. Out of the woods?
13/08/2018 10:04
Nikmon sure making loss in 2Q, maybe still better than Q1
13/08/2018 11:14
286210 If you read today's article in The Edge, 1 year ago the prediction was for Velesto to have a loss of -RM140mil for FY2018. But now projection is revised to a net profit of RM12.3 mil for FY 2018. A big swing.

Qtr 1 was a net profit of RM5mil.
13/08/2018 13:10
Nikmon @286210, confuse with other stock, Q1 was net profit......
13/08/2018 17:03
263263 Earn 100 million also no use.
Amanah keep selling after price up a bit.
14/08/2018 07:51
JJchan Amanah got 3 billion shares if average down even with 30cents RI----price is still around 70---80 cents-----assuming Amanah cannot push price to 1.50 in 2019---atleast breaking 70 cents will
keep their account books "Black"
14/08/2018 09:43
Yael Jasper rising, rising and rising. Niceee
14/08/2018 10:22
Shinnzaii see the trade volume flow also pengsan already...6mil queue....perhap need share split when result show good again...cannot swing
14/08/2018 10:27
Nikmon Amanah hold 38% share of velesto!!!! need money to pay dividend?
14/08/2018 10:36
ilovekari Amanah hold so many, can buy?
14/08/2018 10:44
IronShirt amanah is using 100m shares to pump and dump ( just sold) ,,,,,,now waiting for 2Q results to pump
14/08/2018 10:45
Shinnzaii No corporate announcement for amanah disposed or acquired last week...
14/08/2018 11:27
jordanmaggie61 好价格
14/08/2018 12:02
KEYBOARD black horse..ready
14/08/2018 13:21
Poisonivy Personnel view oil price is ready for ramp up 5 more days sanction on Iran oil by US will kick start the 67 dollar range is ready for them to upsurge back 76... Ready for countries super cold winter.... Short term drill contract is common one month PO with attach yearly contract... Top gun spent millions dollar testing I dun think so is the beginning of turnaround
14/08/2018 13:30
Poisonivy Oil price sustainability had established to offset the growth slow down trade war...meaning drilling utilisation be on the rise and sustainable... . Thank to US Policy and the dollar be strengthen further... Cheer
14/08/2018 13:35
JJchan Tomolo Big Vol. if results Good
16/08/2018 16:27
jordanmaggie61 Nice ! Start taking profit, thanks.
16/08/2018 17:05
263263 Tomolo break 0.30 is good sign before result out. Otherwise, no show Liao!
16/08/2018 17:43


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