Highlights
KLSE: VELESTO (5243)       VELESTO ENERGY BERHAD MAIN : Energy
Last Price Today's Change   Day's Range   Trading Volume
0.14   0.00 (0.00%)  0.00 - 0.00  0
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Overview

Market Cap: 1,150 Million
NOSH: 8,216 Million
Avg Volume (4 weeks):10,134,400
4 Weeks Range:0.13 - 0.155
4 Weeks Price Volatility (%):
90.32%
52 Weeks Range:0.105 - 0.195
52 Weeks Price Volatility (%):
71.79%
Average Price Target: 0.20
Price Target Upside/Downside: +0.06

Financial Highlight

Latest Quarter | Ann. Date 30-Jun-2021 [#2]  |  25-Aug-2021
Next QR | Est. Ann. Date: 30-Sep-2021  |  26-Nov-2021
T4Q P/E | EY: -2.14  |  -46.69%
T4Q DY | Payout %: 0.00%  |  - %
T4Q NAPS | P/NAPS: 0.2793  |  0.50
T4Q NP Margin | ROE: -150.34%  |  -23.40%

Headlines

Date Subject
08-Sep-2021 Velesto Energy - Sturdier without NAGA 7
26-Aug-2021 Velesto Energy - Slowly but surely to recover
26-Aug-2021 PublicInvest Research Headlines - 26 Aug 2021
26-Aug-2021 Velesto Energy Berhad - 1HFY21 Deemed Below Expectations
26-Aug-2021 Velesto Energy - Better Times Ahead Despite Weak Showing
08-Jul-2021 Daily technical highlights – (VELESTO, PADINI)
02-Jul-2021 Trading Stocks - Velesto Energy
02-Jul-2021 Oil & Gas - Near-term Strength in Oil Prices
01-Jun-2021 Velesto Energy - Temporary blip
01-Jun-2021 Velesto Energy - Better Prospects Ahead
01-Jun-2021 Mplus Market Pulse - 1 Jun 2021
01-Jun-2021 Oil & Gas - Petronas Bounced Back to Profitability
01-Jun-2021 Velesto Energy Berhad - Target Price : Price : RM0.135 RM0.110 ↔ By Steven Chan / steven.chan@
07-May-2021 Mplus Market Pulse - 7 May 2021
05-May-2021 Velesto Energy - NAGA 7 sunk
05-May-2021 Mplus Market Pulse - 5 May 2021
04-May-2021 【行家论股/视频】Velesto能源 钻井机损坏冲击财测
08-Apr-2021 Velesto Energy - Replenish orderbook for NAGA 4
08-Apr-2021 Velesto Energy - Fourth Contract Win in Less Than 1 Month
08-Apr-2021 Mplus Market Pulse - 8 Apr 2021

Business Background

Velesto Energy Berhad, previously known as UMW Oil & Gas Corp Bhd, is a multinational provider of drilling and oilfield services for the upstream sector of the oil and gas industry.

The company's line of products and services include drilling and workover services for exploration, development, and production of wells in Malaysia and southeast Asia through several offshore drilling rigs and hydraulic workover units. 

Under the oilfield services segment, the company offers threading, inspection, and repair services for Oil Country Tubular Goods in various offshore markets.

Operating revenue is primarily derived from drilling services, which includes ownership and operation of several drilling rigs and hydraulic workover units, or HWUs. Rigs and HWUs are chartered through day-rate-based contracts.
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  25 people like this.
 
JuliusCeasar Now sharks are accumulatinh VELESTO at 0.15 cents and VELESTO - WA at 0.07 cents. This is not a buying call but just my 2 cents analysist.
03/09/2021 2:55 PM
JuliusCeasar Between VELESTO and VELESTO - WA i think warrant would give fast return. Its can go up by 2 cents in a day. Past record reveals it. August 2021 and February 2020 is the reference.
03/09/2021 3:05 PM
Macgyver11 Going to hit 0.16 soon
03/09/2021 4:37 PM
Macgyver11 Brent super hot now...O&G theme coming soon. Apa lagi sapu ler..
03/09/2021 4:39 PM
bullmarket1628 Langkawi To Welcome Local Tourists As ‘Pilot Project’ Starting 16 September
Published 2 days ago September 2, 2021

worldofbuzz.com/langkawi-to-welcome-local-tourists-as-pilot-project-starting-16-september/
04/09/2021 10:30 AM
bullmarket1628 The government has agreed to open the tourism sector in several destinations under the ‘travel bubble‘ programme based on a list of conditions.

As reported by Utusan Malaysia, Prime Minister Datuk Seri Ismail Sabri Yaakob said, for a start, Langkawi Island was chosen as a pilot project to be reopened to local tourists on Malaysia Day, 16 September.

“We are pleased to inform that through the meeting, we agreed to open the tourism sector in several destinations under the “travel bubble” programme based on the conditions set. For a start, Langkawi Island has been selected as a pilot project to reopen to local tourists starting 16 September,” he said.

He added that it would not be long before other tourist destinations will also be a part of this project.

“Other tourist destinations will be allowed to operate when the locality vaccination rate reaches 80%,” he said.
04/09/2021 10:31 AM
Shines Velesto tourism related?
05/09/2021 12:02 PM
Expertise Why not? Your picture too small…@Shines
05/09/2021 2:59 PM
Macgyver11 Hold be confident...September new contract announcement.
07/09/2021 1:20 PM
djibaok manage to fish out the tenggelam drill rig kah?? can sell for scrap metal.... now steel price quite high...
08/09/2021 12:48 AM
koyokui New project coming buy buy
08/09/2021 10:34 AM
Valgrovest Show evidence of new project please. Otherwise it is likely to be fake.
08/09/2021 10:48 AM
Macgyver11 Yes, most probably contract announcement around this month. 3 rigs already start operation and 2 two more rigs going to deploy this month as press released by Velesto BOD recently...
08/09/2021 12:17 PM
Macgyver11 Read carefully. This is published in edge market after 2nd qtr released recently on 25 Aug....

"On outlook, Velesto said upstream activities are continuing globally with contracts continuously being awarded, despite the unabating Covid-19 pandemic.

“In Malaysia, a number of new contracts have been awarded and the group managed to secure some of these contracts. The group is also actively bidding for new tenders for contracts scheduled to commence this year and next year," Velesto said, adding that three of the group’s six available jack-up drilling rigs are working, while two are scheduled to commence mobilisation in September.

It also updated that survey works for the submerged Naga 7 is in progress and salvage operations plan will be finalised on completion of that report. However, the rig has been declared as a total loss, hence compensation from the insurers had been agreed upon, it said."

Note: Read the 2nd paragraph..out of six rigs, 3 rigs are already in working and 2 more to commence in September. Think carefully, Velesto has 5 rigs only at the moment...out of five rigs three already mobilized for Shell Malaysia and Petronas, left two more to be deploy in this month (the contract for two more even announce yet). Please check the previous contract announcement. Possibility there's announcement soon.
08/09/2021 12:30 PM
Macgyver11 Knm shoot up already...Velesto should follow.
08/09/2021 12:31 PM
Macgyver11 With all rigs deploy in full swing...I think possibility is there and bright...plus crude at comfortable zone.
08/09/2021 12:33 PM
koyokui Velesto only few operator profit tp 20sen
09/09/2021 2:08 PM
JuliusCeasar Just be patience
09/09/2021 6:16 PM
Money122 Will going up very soon
11/09/2021 12:36 AM
bullmarket1628 Walaoeh, Oil price continue to spike up like mad !
Brent closed at $72.88 ‪+1.43 +2.00‬%

‪Huat ah, Heng ah, Ong ah !‬
11/09/2021 7:39 AM
bullmarket1628 Oil rises to one-week high as US supply concerns dominate
Monday, 13 Sep 2021 4:59 PM MYT
https://www.thestar.com.my/business/business-news/2021/09/13/oil-rises-to-one-week-high-as-us-supply-concerns-dominate

SINGAPORE: Oil prices rose for a second session on Monday as concerns over shut outpur in the United States, the world's biggest produces, following damage from Hurricane Ida supported the market, along with expectations for higher demand.
Brent crude rose 67 cents, or 0.9% to $73.59 a barrel, and U.S. West Texas Intermediate(WTI) crude also added 66 cents or 1% to $70.38 at 0633 GMT.
13/09/2021 5:55 PM
Shines Looks like oil price up is for us to pay more for usage of petrol only, nothing have affected the oil related co's share price
13/09/2021 6:13 PM
Allantanks Another manipulated counter lol.
13/09/2021 11:29 PM
bullmarket1628 Walaoeh, Oil price continue it’s bull run !
Brent closed at=> $73.6‪4 +0.72 +0.99%‬

‪Huat ah, Heng ah, Ong ah !‬
14/09/2021 6:49 AM
Macgyver11 Just accumulate brent trading above usd70 very good sign already. Another strong qtr coming soon + new contracts.
14/09/2021 10:30 AM
JuliusCeasar Look like direction has changed... Its changed from uptrend to downtrend. Hmmmmm!
Or else need longer time to go uptrend back. HAiyaaa!!!
14/09/2021 2:45 PM
JuliusCeasar I stay away for a while!!!!
14/09/2021 2:47 PM
JuliusCeasar Bad Market sentiment dampen a lot KLSE STOCK prices. BECAREFUL!!!
14/09/2021 3:27 PM
ImprezaSti who knows might be another 0104
14/09/2021 4:23 PM
Macgyver11 Just be patience..after the 3rd qtr no 15cent anymore.
14/09/2021 4:29 PM
SleepingForest Oil counter not for contra players .. its for long term player .. after oct cannot get this price
14/09/2021 8:09 PM
bullmarket1628 Walaoeh, Oil price continue to rise !
Brent closed at=> $73.‪88 +0.37 +0.50%‬

‪Huat ah, Heng ah, Ong ah !‬
15/09/2021 7:55 AM
Bgt 9963 Oil bullish...
15/09/2021 8:58 AM
koyokui Buy oil spike
15/09/2021 9:17 AM
Expertise Are you ready….once break usd80 will spike to usd 100 by winter
15/09/2021 12:11 PM
Macgyver11 Wow! Oil super uptrend.
15/09/2021 9:37 PM
Allantanks Tmr fly
15/09/2021 10:08 PM
Up Slowly Better La RM 1 by next year if everything back to normal !
15/09/2021 10:55 PM
bullmarket1628 Walaoeh, Oil price was super bullish !
Brent closed at=> $75.‪45 +1.85 +2.51%‬

‪Huat ah, Heng ah, Ong ah !‬
16/09/2021 8:36 AM
bullmarket1628 Walaoeh, Oil price continue to rise !
Brent closed at=> $75.6‪0 +0.14 +1.88%‬

‪Huat ah, Heng ah, Ong ah !‬
17/09/2021 7:37 AM
Macgyver11 To buy when others are despondently selling and to sell when others are avidly buying
17/09/2021 3:52 PM
Macgyver11 I'm waiting for that magical spark to ignite...maybe soon.
17/09/2021 4:05 PM
Shines No point le, oil up share price down
17/09/2021 6:31 PM
Macgyver11 (Kuala Lumpur, 17th) VELESTO Energy (VELESTO, 5243, main board energy stock) announced the termination of two jack-up drilling leasing contracts with an expected loss of approximately US$8 million (approximately RM33.36 million) in profit.

VELESTO Energy stated in a statement that the two contracts were awarded to Velesto Drilling by CONOCOPHILLIPS Sarawak and CONOCOPHILLIPS Sarawak on March 26 this year to provide jack-up drilling rig contracts. VELESTO NAGA 7 was originally scheduled to be used in this contract.

However, VELESTO NAGA 7 sank off the coast of Sarawak in early May. The insurance company insured by Velesto Drilling has confirmed the total loss on the drilling platform on August 9.

According to the contract, if it is recognized as a total loss, the contract will be deemed terminated from the time the loss occurs. With the termination of the contract, the management also expects that the profit for the 2021 fiscal year (closing on December 31) will therefore decrease by US$8 million.
17/09/2021 7:31 PM
Macgyver11 Price react to this news today....
17/09/2021 7:37 PM
Macgyver11 Two things need to consider here:-

1. Velesto no need to pay for contract termination to ConocoPhillips as the insurance company released the report and solely agreed that naga 7 incident as total loss and not Velesto engineering faults.

2. Since the insurance company agreed that naga 7 incident is natural disaster, then the insurance compensation claim for naga 7 total loss is likely very high and possible now (total 400mil of compensation claim)

3. 33mil decreased in 2021 fiscal year vs 400mil insurance compensation.

Just my wild guess. Tayor
17/09/2021 8:02 PM
sheep Loss of Naga 7 means loss of future earnings for many more years...still negative to me..
Next qr will be dampened...wakakakaka
17/09/2021 8:19 PM
bullmarket1628 泰2022或全面开放 打两针免隔离.
就等大马亮绿灯
独家报道: 王义展
攝影: 陈友晋

https://www.kwongwah.com.my/20210917/泰2022或全面开放-打两针免隔离·就等大马亮绿灯/
18/09/2021 8:09 AM
Macgyver11 https://www.klsescreener.com/v2/news/view/882151/brighter-outlook-for-malaysia-s-oil-and-gas-sector
18/09/2021 12:40 PM
bullmarket1628 Walaoeh, Oil price continue it’s bull run !
Brent closed at=> $74.69 +0.77 +1.0%

‪Huat ah, Heng ah, Ong ah !‬
22/09/2021 6:52 AM


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