Bumi Armada Berhad is a Malaysia-based international offshore oilfield services provider. The Company is engaged in the provision of marine transportation, floating production storage and offloading system (FPSO) operations, vessel construction, and engineering and maintenance services to offshore oil and gas (O&G) companies. It provides services through its ownership and operation of marine assets across the O&G value chain; from exploration through to field development and construction, production and operations and eventually, decommissioning. It serves clients in over 10 countries across Asia, Africa and Latin America. Bumi Armada provides these offshore services via four main business units and two support units. The main business units are FPSO, Offshore Support Vessels (OSV), Transport & Installation (T&I) and Oilfield Services (OFS). On October 4, 2011, the Company acquired Bumi Armada Russia Holdings Limited .
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RJ87I hope the scare tactic will work to push the price down so that can collect more before first oil.
Enquest performance also not bad too. 12 months low was 17pence. High 53pence. Trading at 43.5pence.
If Armada books turns blue and trade 75% it's peak like Enquest. That's at least RM2.
If indeed war did break out, it's good news to OnG counter. F22/J20 fighter jet or korean T62 tank don't run on "shale" gas. If the war took longer then it should, oil scarcity will set in driving the price up. It has been the trend since every war.
At this point, I don't think Trump see the figure DOD come up with. If Russia back North Korea; it's not as easy as tossing 60 tomahawk missile. It will cost way more and I doubt a stingy fella like him is willing to pay for it. That's a bad business man.
mikekimAgreed, hope it gets hammered down more this week by those who are nervous.
The probability of first oil increases as each day passes but share price is going down, that's when value emerges from an irrational market overwhelmed by impatience and nervousness. ;)
BumbleBee1st oil will be at end may or early June if all go to plan, the current catalyst will bebthe may qtrbresults
nikicheongLol you guys. I was pretty surprised when it surged to RM0.82. Slow and steady lah. RM0.76 is fair value for now. I won't be surprised it go lower still to RM0.72-RM0.74.
JoshuaMS7what wrong of this counter?? still downtrend??
BrattThe problem is super high stockpile of Brent Crude. And there are no economic excitement around the world to consume that stockpile. Most likely oil price to dip again soon to usd42 bbl http://www.thestar.com.my/business/business-news/2017/04/19/oil-prices-dip-on-bloated-us-market-mixed-saudi-signals/
JoshuaMS7Opec and non opec should cut production for another 6 months time!! gogogo!
Chanyut SappinitThe oil price is war game between US . And out side world. ...I think the most important is the company perform well. It shouldn't worry too much about daily oil prices. ..
JoshuaMS7ya as long as company is earning in coming quarter is the most important
mikekimJefferies Report - Release the Kraken: With the FPSO hooked up, as well as risers and umbilicals now pulled in, commissioning work continues at the turret area and topsides which should be less weather-sensitive, giving more comfort for a 2Q17 start-up.
Pareto Securities Report - All Eyes on Kraken: The Kraken project continues to move forward towards first oil scheduled for Q2 2017. The FPSO arrived at the field in February and is currently going through final testing and commissioning. Enquest further reports that drilling performance to date has “significantly de-risked delivery of the project to and beyond first oil”.
UOB KayHian - Detailed updates on Kraken: a) Following entry into the Kraken field on 13 Feb 17 (the anticipated date for a favourable weather window), the FPSO was moored up to the STP buoy on 15 Feb 17, with all locking arms engaged and full rotation tests completed. Enquest mentioned there is one final rotation test to be done with the turret pipework fully attached. b) All risers and umbilicals have been successfully pulled into the FPSO. c) A major milestone achieved after the heavy 600-tonne swivel stack has mated with the STP buoy which demanded a highly weather sensitive operation. d) Work is continuing on the turret area, pipeworks, topside commissioning and subsea systems (once the turret area is completed).
Earlier, there were concerns over whether Bumi Armada is able to re-negotiate the 1 Apr 17 backstop date, whereby the clients have the contractual right to terminate if the first oil is later than the said date. This is due to uncertainties in timely execution arising from weather conditions. Judging the comfort levels from both clients, we believe project’s execution risk is very low at this stage.
Chanyut SappinitI think the most important is the quarterly report next month. ..if it in green..a lot will hold their stake tight even the first oil from Kraken not anouce yet. But if the quarterly report is Red..many will hump out.. at that time have to be more careful. But I think if the quarterly report is good the inside r people will start to buy...hope opec anouce continue to cut production when the meeting on May 25
mikekimKinda hope that the quarterly report will show a big enough red + no mention of kraken => that will trigger a sell down for the perfect buying opportunity before Kraken first oil announcement.
JoshuaMS7Last trade shooting up 0.760!! Day highest!!
JoshuaMS7but it is really unpredictable when it is shooting!!
armadatuah2017This share is still at overbought zone. Not wise to hold unles you got it cheap. Anytime can shoot up but anytime can fall
battosai123If i remember correctly BA share defy logic. Even with huge impairment losses still its share price holding firmly. BA performance depends heavily on EPF and Fund managers dealings. However due to the in coming good news from on going projects, i dont think the price will drop much like before. Any negative news will hardly affect it now but positive news will move the price up faster then you think.
goldentriangleNext week Armada probably will break 0.90 ! Huat ah, Heng ah, Ong ah !
JoshuaMS7oil price keeps dropping for 4 days until 49 even all world indexes are flying. Don't dare to buy now...
RJ87Basically, people are hoping bad news to enter because they all know it's heading upward soon.
What amazed me most is when BA announced 1.3B losses. The stock price actually went up. Obviously, retailers do realize very well that downside risk is low and not panic even there is bad news. That's a good sign.
JoshuaMS7However oil price is bearish now.. once Russia don't cut production next May, oil price should back to 30++
nikicheongWalao. I give up predicting Armada lah. The fella just go up and down as he likes.
JoshuaMS7@nikicheong ya this stock is really unexpectedly!! i sold it fly, i buy it drops :(
cariayamJoshuams7 ...not only u ...experience this. lol
suanminI bought yesterday 0.755 and sold today 0.80. Hehe
nikicheongWell I buy at 0.605 then 0.630, I still kept it till now. I think about the longer term, don't concern myself with daily fluctuations. As long as the long term story is intact, I hold. The moment it changes, I sell.
Chanyut SappinitCan reach 0.85?.....hope next month or next week someone push the price up....before quaterly report...
suanminI hold some for mid term. And today waiting to pick up some.