Koon Yew Yin's Blog
Petra Energy will continue to report increasing profit - Koon Yew Yin
Koon Yew Yin
Publish date: Thu, 05 Jan 2023, 01:08 PM
Koon Yew Yin
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An official blog in i3investor to publish sharing by Mr. Koon Yew Yin.
All materials published here are prepared by Mr. Koon Yew Yin
All materials published here are prepared by Mr. Koon Yew Yin
Petra Energy’s last traded price was 89 sen. It reported 7.57 sen EPS for the quarter ending Sept 2022.
Petra Energy is primarily engaged in geoscience and petroleum engineering solutions, integrated well solutions, production solutions and other specialized services within the oil and gas industry.
This announcement is dated 18 June 2021
Sarawak’s State-owned Oil & Gas Company, Petroleum Sarawak Bhd gave a long term contract of 29 years. Phase 1 of the Contract is for an initial four (4) years with an option to extend for another year. Upon successful outcome of Phase 1, the subsequent Phase 2 will involve the development and production activities.
Petra Energy is not concerned with the price of petroleum. Even when the petroleum price is low, Sarawak State Oil & Gas Company will continue operation which requires the service provided by Petra Energy.
Petra Energy is sure to make profit because it provides service based on cost plus which carries no risk of losing money.
This announcement is dated 9 Dec 2022
Petra Energy has been awarded a contract amendment and extension for the Provision of Offshore Maintenance, Construction and Modification (MCM) Services from PETRONAS Carigali Sdn Bhd.
The value of the Contract is based on work orders issued by PCSB throughout the extended contract duration effective from 20 September 2022 until 31 December 2023.
Petra Energy is sure to make profit because the work orders are based on cost plus.
The announcement is dated 3 January 2023
Petra Energy had entered into a Supplementary Agreement with Petroliam Nasional Berhad (“PETRONAS”) relating to the Production, Operation and Maintenance of the Banang Field Technical Service Agreement (“Contract”) with effect from 29 September 2022 for a period of twenty-two (22) months until 6 August 2024.
The duration of the Contract is for the period of twenty-two (22) months from 29 September 2022 to 6 August 2024.
The Contract is expected to contribute positively to the earnings and net assets per share of PEB Group for the duration of the Contract.
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