If can deliver 1 cents profit per quarter then everybody here will fly like AAX liao !!!

result sure green .... the fatt-king multi billion question is how huge or how tiny the profit will be ?
If one quarter only profit 0.0000001 cent , I bet the price will go limit down starigh away !!!! 😁

after QR release .... crash down !! based on past 2 quarter expereinces !! 😅

break 0.245 first lah .... can't break this for 3 months already .........😫

next AAX coming .... (hopeful since 2020) 😭😭

Good news coming lai !!! UP UP UP !!!
Next AXX coming >>>>>>>>>>>>>>>>>>>

… with high volume some more ! Jia lat !
QR report no good ??

The more you argue , the more the price drop !! 😭

Very Slow again !! haiz 😴

days before they announce next quarterly report (estimate 30-8), the share price will surely SHOOT UP, by that time should run already as after annoucement price will drop back ... experience from past 2 quarters !! 😱

Felix888
Please write the facts why you think Velesto is the next Serbak?

I didn't write with fact, I wrote out of frustration !! 😫

If Velesto is to explode this month, I will write with euphoria !! (next AAX etc ) 😂

Velesto will be the next serba ??

Lai liao lai Liao !!!
goreng goreng mari liao !! 😂

Velesto Energy Bhd (VELESTO, 5243)

• Share price closed unchanged at RM0.23 on Tuesday.

• VELESTO was hovering within RM0.215 to RM0.245 range with selling pressure seen for the past 1 month. Higher low support has formed at RM0.225. Coupled with indicators showing uptick momentum, share price is expected to propel higher.

• Resistance levels are identified at RM0.245 (R1) and RM0.255 (R2).

• On the flipside, support levels are pegged at RM0.225 (S1) and RM0.22 (S2).

false dawn ! 😭

HLB & BIMB normally give higher TP = 25-30 cts !!

I think TP 30ct can be reached by this month !

This Fart-king stu-pick kenanga soh hai .... last year when velesto down to 0.08 cts , they called for sell !!
listen to them then you will sure RIP !!!

By July Lai liao !!! Hopefully !!! Lol

Need to wait until 2030 baru Lai liao ! Lol

Wawasan 2030 ?! lol

this " very slow" sleeping counter ... contra players RIP , long term investors also RIP ....

why keep dropping ? also got rig's engine rosak kah ??? lol

want to F this Velesto aka Very-slow counter also no energy already ......

New contract 50 mils awarded ! Tomorrow pecut liao !!

KUALA LUMPUR: Velesto Energy Bhd said its sub-subsidiary Velesto Drilling Sdn Bhd has secured a contract from Vestigo Petroleum Sdn Bhd for the provision of a jack-up drilling rig.

In a filing with Bursa Malaysia, the group said the contract has an estimated value of US$10.9mil (RM50.32mil) and is expected to commence in Q4 2023.

The group said it has assigned its Naga 2 jack-up rig for the job, which entails the drilling of five firm wells.

"The provision of the above-mentioned service is expected to contribute to the earnings and net assets of VEB Group during the contract period for the financial period ending 31 December 2023," it added.

So next time , remember to sell 1 day before QR release …. Then buy back later ? Lol

Watch up for the news ard 5pm ba , normally the edge will announce ! Sure will be good !

So far have yet to read any analyst’s report on their latest qr… where the F are they ?? Cease covering ?? Oh not ! Hope not !! Lol

Today AGM , hope ever confident CEO can say sth good ba ? And those Fatt king Stu pick analysts can raise their TP s …..

Short term TP :- 30 cts at least
If everything can back to normal , price can also back to normal ( before those boardroom saga unfold ) ba ? Hopefully

Now look at this situation :-
Share won’t be suspended in 9th June after all
EGM will surely pass with FL & gang in charge

… outlook is good & worth a punt !!

If they can’t settle , might need to pay DL 7 mils + more …
Unless new management or sc take action to sue DL for breach of fiduciary duty and make him vomit back all 20 mils + plus under declared gold ( ard 20 mils ) …. 2 cts

Basically they are profitable but making loss due to the 13 mils paid to DL !

Top volume No.1 today !! F

Amanah might run already !!!

Big Lao Sai .... like 3 months ago !!

KUALA LUMPUR (May 25): Velesto Energy Bhd returned to profitability in the first quarter ended March 31, 2023 (1QFY2023) with a net profit of RM14.22 million or 0.17 sen per share, from a net loss of RM46.20 million or 0.56 sen per share a year ago.

Its turnaround was in line with its revenue quadrupling to RM287.51 million from RM77.41 million in 1QFY2022, thanks to higher average jack-up rigs utilisation and higher average charter rates under its drilling services segment, as well as more progress for the i-RDC project under its integrated services segment during the quarter.

Its drilling services segment returned to profitability with a profit before tax of RM25.3 million, from a loss before tax of RM36 million a year ago, as revenue rose RM110.2 million to RM184.4 million, following jack-up rig usage rates rising to 90% from 39%, and charter rates rising to US$68,000 per day from US$74,000 per day.


The integrated services segment also posted a profit before tax of RM4.8 million against a loss before tax of RM2.1 million in 1QFY2022, thanks to revenue soaring by RM99.4 million to RM99.7 million on higher utilisation of hydraulic workover units and progress in its i-RDC project.

On its prospects, Velesto said the outlook for the oil and gas industry has moderated but remains strong.

"The benchmark Brent oil price has been fluctuating between US$70-US$85 per barrel in the last six months and is expected to average around US$80 per barrel in the medium term.

"IMF has lowered its projected global GDP growth rate for 2023 to 2.8%, from 2.9% previously. Correspondingly, EIA is forecasting global oil demand in 2023 of 101 million barrels per day, marginally lower than 102 million barrels per day forecasted in end-2022. In addition, concerns about global economic conditions, geopolitical tensions and persistent inflation continue to weigh on oil prices.

"On the supply side, Opec+ reduced its oil production target by 1.2 million barrels per day until the end of 2023. However, Russia’s production remains persistent. In addition, non-Opec producers are expected to increase supply. This has resulted in a softer oil market in 1Q2023," it said.

However, Velesto noted that more exploration and development projects are being evaluated and sanctioned, with oil majors continuing to raise their capital expenditure in response to a "prolonged lack of investment in the past".

"In Malaysia, a number of new contracts have been awarded, with more being tendered out," it said.

Velesto said competition for assets such as jack-up rigs have also intensified, with fewer rigs in Southeast Asia as they are mobilised to other regions such as the Middle East, resulting in utilisation rates rising to 100% and charter rates for the latest fixtures also increasing.

"Currently, all six of the group's available jack-up drilling rigs are working. The group has secured various contracts for the year, including the Notice of Assignments (NOA) for NAGA 3, NAGA 4 and NAGA 6 by Petronas Carigali Sdn Bhd, which was announced on May 10, 2023.

"The group is actively bidding for new tenders for local and international contracts, scheduled to be performed in 2024 and beyond," it said.

At noon break on Thursday (May 25), Velesto was unchanged at 25.2 sen, for a market capitalisation of RM2.09 billion.

UNless they break the news of selling some or all of their rigs to oil rich arab countries with market price ..... otherwise no hope & F liao !!!

EPS = 0.17, annualized to 0.68, give an average PE of 10, TP = 6.8 cts ?? PE = 20, TP = 13 cts ??
Jia lat, most fatt king stu-pick rule-by-book analysts will downgrade it tomorrow !!

the only hope is next monday AGM, the CEO will say something positive then ......

F liao !!

Jia lat !! become "Very Slow" pulak .....

under investiation by MACC, so all his asset , bank account have been freezed, i think !

This drama is quite similar to Revenue one...
- outside gang(raiders) or minority want to oust the existing major shareholders/ directors,
- start EGM / civil suit to oust the existing major shareholders / executive directors
- complaint / report to MACC that led to arrest and criminal charge against the existing directors

Bursa board room drama script can be duplicated once & once again ?? lol

next wed 24-5 QR out !! now is the best time to goreng goreng dulu lah !!

UP UP UP liao !! Amanah & gangs sapu-ing non stop liao .... !!

If next few days/ weeks SC or FL & gangs initiate court action against DL & son for conflict of interest, breach of director's duty, breach of Bursa rules etc.... the share price will SHOOT UP for sure !! I bet !

I bet it will GO UP .... !! FL & gangs have the way & contact to solve this mess ... and profit from it ! very likely !

I read the remand might be extended to 14 days .... if need to !
appparently FL & gangs are plotting something to bring down those bus-tards !
During this duration of time, share price shall be safe from FL & son's onlaught !! who knows ??

DL & son already in lockup for 3 days, how to sell ?? lol

next wed 24-5 :- QR reporting
next next mon 29-5 :- AGM
even though if the QR report is dissapponting, we can only hope the management can announce sth optimistic in the AGM !! Or else we attend AGM and give them a good F !!