If next year average rigs rent can shoot up to US$100K to US$150K, share price can surely shoot up to 50ct and above !!!

The average daily rent of drilling rigs under VELESTO Energy in the third quarter was US$74,000, which has remained roughly flat this year. Compared with the average rent of US$68,000 to US$70,000 from 2017 to 2021, the increase is obviously not large. It should be noted that it is driven by soaring demand , regional peers are now even getting more than $100,000 in rent. At its peak in 2014, the average daily rent for drilling rigs under VELESTO Energy was as high as US$151,000, more than double the current rent.

It is worth mentioning that in view of the abundant silver bullets of the oil giants in the Middle East, 15 drilling rigs in Southeast Asia will soon go to the Middle East to work for the world's largest oil producer Saudi Aramco, which may further tighten the supply of drilling rigs in the region and catalyze Rents continue to rise.

"Overall, the good luck that VELESTO Energy has been waiting for for many years has finally come. Under the medium-term environment of insufficient supply and strong demand, it is estimated that the company will be full of money and earn back these years of losses for at least the next two years During the golden age, the stock price traded at only 0.5 times the book value, which added to the investment charm. It is expected to once again become an oil and gas stock that has attracted much attention from the market, and its outlook is impeccable. "

Ok lah, tired running d , let it take a break .....
Next week pecut lagi >>>>>>>>>>>>>>>

next week Velestow ("very slow") will change name to Velefast ("very fast") ! lol

One day up 0.5 cts, one week up 2.5 cts, one month up 10 cts ?
Cukup kah ? Lol

Can go up 0.5 cent per day, you can laugh already loh ..... lol
sikit sikit, lama lama jadi bukit !! Velesto's style !

this counter won't fly, it will only crawl ....... ....... ...... ...... .....

Optimism is all over the market, so be ready for super bull charging all the way to Christmas ...> CNY ....> ..... then sell in May & go away !!!!!!

Whoever take over as new government, this counter won't be affected at all lah !
whatever government also need to gorek more oil to increase their revenue what ??
safe counter to invest !

This delusional old chinese rubber (after being brain washed from "re-education camp") has lost the sense to judge thing rationally ... what a pity .... sad to read all his stup1d articles nowadays ..... sob sob

"very slow" can up 0.5ct per day, you can open champagne to celebrate already loh !

https://www.techspot.com/news/96373-russia-finds-40-chinese-chip-imports-defective.html

This piece of new (by Russian media themselves) will be a big slap to those delusional chinese rubbers !
maybe that's the reason why the Russia is losing the war !

Another piece of "spiritual master bation" by a delusional old chinese rubber again & again & again ..... lol
No wonder he keeps losing millions in share market nowadays !

"very slow" style = sikit sikit lama lama jadi bukit !!
Don't look check the price now, go to do something else and come back at 31-12-2022 !
haha

If can reach TP = 0.30, die hard "very slow" supporters can be laughing all the way to the bank already !!!

https://www.theedgemarkets.com/article/heres-what-goldman-ubs-say-about-oil-after-big-opec-production-cut

almost all prominent international investment houses predicted Oil price will reach USD 100 !!

Heng ah, Ong ah, Huat ah !

CCP is good in bullshiting and this blunt Uncle Koon fell for it ......

another spiritual "master bation" by Uncle Koon ..... He is getting more and more delusional as the days go by ....

This “very-slow” is very slow ! It won’t shoot up 10 cts in one day ! Bit by bit 0.5 ct per day …. Sikit sikit lama lama jadi Bukit ! Lol
My experience with Very- slow !

Just be patient ! TP of 30ct surely can reach by end 2022 ! 2023 can even rise higher to 40-50 ct !!

https://klse.i3investor.com/web/blog/detail/savemalaysia/2022-09-16-story-h1649129494-In_latest_report_democracy_watchdog_lists_ways_China_is_shaping_convers
In latest report, democracy watchdog lists ways China is shaping conversation in Malaysia

chinese rubbers, please read this !

To those brain-washed "chinese rubbers" out there, let CCP's communism + autocracy rule the world !!
when that day come, CCp will build millions of "re-education camp" to brain wash , torture those disobey them , those "chinese rubbers" will prosper with corruption, world will be peaceful in that way !! hooray

If off shore drilling rate reaches USD500,000 per day as predicted by expert, Velesto (now contracted at USD75,000 per day) will surely PECUT !! ..... to RM1 TP ??

This Fatt king stup!p Kenanga , now up TP from 0.08 to 0.16 pulak ? Lol

分析：马银行投行研究

目标价：22仙

Maybank investment just give a TP of 22 cts !!!
More and more investment banks queueing to up TP liao !!
Heng Ong Huat Liao !!!!

Very-slow is just warming up today !!
I can see TP 28ct to reach by year end 2022 when more and more good news revealed !
Be patient !!

Put those "chinese rubbers" eg. qqq3333 & unlce Koon in Xin Qiang re-education camp for months and let them personally experience the treatment of CCP themselves will be very wise ! lol

If news of petronas agreed the market charter rate of USD 120,000 with Velesto , price will surely shoot UP !!!! Hopefully

Last I read from the recently Edge weekly that Petronas is negotiating with all OSV contractors to review upwards thier charter rates !
I was shocked to learn that Velesto s contract with Petronas for thier rigs is currently fixed at USD75,000 whreas the market rate has gone as high as USD 120,000 !! Looks like fatt king Petronas is squeezing them left right and centre !! No wonder they reported loss despite high curde oil price !!
according to the report, many Arab oil majors are coming to "sapu" rigs whereever they can , even paid double price for the acquisition price as sold by Icon Offshore recently !!
The news look promising !!!
Either Velesto can review all their charter rates to market price (33% upwards as revenue ) or sell all their 6 rigs to Arab oil major for fat fat asset profit !!!

Why Koon Yew Yin continues to be brain washed by CCP fake news propaganda and " lie and spread misinformation about China" by ignoring basic human rights ??
Wake up Uncle, your write-up is as worthless as fake news spreaded by CCP !!
No wonder your blind faith cost you tonnes of money investing in conman's company ... Xin Quan !!

HLB latest TP :- 15cts
Kenanga latest TP :- 8 cts ....

wait for CIMB TP, last 28 cts , don't know will down grade after seeing fatt king sh!t result ??

Qr reports for 2022 will be PKM for Fatt king sure !!
2023-2024 results will be fatt king GOOD !!! hopefully .......

This counter is trading at a very Fatt-King undervalue price !!
Even the lowest TP is 0.10 !! at 0.085 ? it is a dirt cheap price !!

The Board of Directors of Velesto Energy Berhad ("VEB") is pleased to announce that Velesto Workover Sdn. Bhd. (“VWO”), a wholly-owned subsidiary of Velesto Malaysian Ventures Sdn. Bhd. (“VMV”), which in turn is a wholly-owned subsidiary of VEB, has received a Work Order Award (“WOA”) from PETRONAS Carigali Sdn. Bhd. (“PCSB”), for Provision of Plug and Abandonment Integrated Services for Tembungo A & B (“WORK”).



2. DETAILS



The WORK is for an estimated value up to RM60 million with salient terms as follows:-

The duration of the campaign is for twenty-one (21) months for Tembungo-A tentatively from May 2022 until January 2024 with an extension option of 12 months for Tembungo-B tentatively from January 2024 until December 2024.
Provision of integrated project management and hydraulic workover unit services for the duration of the campaign

Just announced 60milions contract won from petronas ! Tomorrow sure Huat liao !!

Completed Upgrading Works for NAGA 5 and NAGA 6

Local media reported that Velesto has completed the upgrading works for its Naga 5 and Naga 6 rigs with the offline capabilities. With this module, the rigs will be capable to undertake multiple scope of activities while drilling, hence reducing the drilling time per well. This, in return, will reduce the overall drilling project costs for clients and indirectly reduce its carbon emission footprint.

Improving Rigs Competitiveness

We note that Velesto’s market share for local drilling jobs has declined to a 5-year low in FY21 or at 35% from the average of 60% despite steady demand (Chart 2). This could be due to longer drilling days to complete a drilling campaign as compared to foreign rigs. In a situation where Velesto submit its bid at similar daily charter rate (DCR) against its peers, longer drilling period will result in higher costs for clients. As such, we believe this upgrade will improve its competitiveness, hence helping the company to regain its market share and improve its asset utilisation rate. This is further supported by (i) recent 2+1+1 year umbrella contract that it secured from Petronas Carigali and (ii) strong demand outlook for jack-up rig that is expected to peak at 16 rigs in FY24. We understand that the company is also looking to upgrade NAGA 3 and NAGA 4 with a similar feature in the near future.

No Change to Earnings Forecast

Our utilisation rate assumption remain intact following this development, hence no change to our earnings forecast. To recap, our FY22-24F earnings forecast is based on utilisation rate assumption of 70-75%.

Maintain BUY with Unchanged TP RM0.28

The stock price has further declined to an all-time low of RM0.075 possibly due to concern on its weak utilisation rate. However, we think the market could be too pessimistic on the company’s near term outlook while the potential of Velesto regaining its market share could have been overlooked. As such, we maintain Velesto as a BUY with unchanged TP of RM0.28 pegged at 1x P/B to FY22F.

Source: BIMB Securities Research - 11 Aug 2022

tomottow Qr report sure loss (hopefully minimal !)
Only hope is going forward they can win more contract to reach UR of 70-90% !!

Huat ku ku bird lah Huat !!

Good news ! meaning two more rigs Naga 5 & 6 to be called upon opeperation in July & August !
Hope they can achieve UR of at least 70% then only got hope of delivering profit !!
If more contract won, UR reach 90% and above with good prevailing charter rate of at least USD100,000 per day (with strong USD some more for currency gain) , TP RM0.30 is coming soon !!!!

Amanah raya coming to PUMP PUMP PUMP liao ...... hopefully !

Velesto is going to “abang adik “ sama Sapura energy !
No news of winning new contract , 3 rigs lying idle for months, how not to go Holland ??

2Q result will be loss also ! I can guarantee you !! No news of winning new contract ,how to improve performance??

Basically, if "very slow" could not win contract from international players instead of petronas, they will be loss making in 2022 & 2023 !! As petronas projection for their rigs are flatish for these 2 years !!

https://klse.i3investor.com/web/blog/detail/kianweiaritcles/2022-07-19-story-h1626223066-Kenanga_Oil_Gas_Sector_Outlook_Understanding_the_Fundamentals_of_Black_
watch this video clip, kenanga didn't comment good on Velesto (at 1:09:40)

How low can you go ??

Macgyver ,

I agree with you ... but the resistance price keep being bombed everyday non stop !!

only two possibilities :-
either insider / big shareholders know sth bad we don't or
too many shareholders over reacted and panic selling ??

8c big barrier got bombed !!!!

5c is the next target !

Big lao sai again ah !!!
Going to catch up with oil brother - Sapura Energy soon ah !!!!