Two ways to look at it. Oil dropped but still within profit level, of course lesser profit. However , forex gained as USD is stronger at two areas ie Kazah Tenge and the RM. Oil up or down is normal . The CEO did mentioned that the operating costs has reduced substantially and even planned to go downstream. Lets see how's today trading.

Brownfield is matured oil well and at the stage of declining output.

It is cheaper because on-shore drilling is far cheaper than off-shore. Furthermore, off shore drilling has decommissioning cost when the oil Wells become dry and the platform in the high seas have to be dismantle

Operating cost is cheap too because forex with kazakhstan Tenge is now 374

Production cost is USD 6.37 pb

You are welcome CITADEL. Just follow the forum, will update everyone here. In the oil business, many factors after production. For example , forex and weather conditions in Kazakthan. Besides brent oil prices, cost of production and rate of production are important. Also have to study about contango and backwardation.

Hi CITADEL, invest in Reach Energy

Brent now is 71.70

Breaking news: Saudi oil minister said that the production cut need to be 1 m bpd

Hi guys, brent oil now up 2.07% ie 71.63 pb. It is time to buy Reach , opportunity to buy below 50s.

At least Brent still above 70 pb.

Brent now is 71.50

Donald Trump is keen to safe guard the shale oil business in the Permian Basin. If the oil price is too low, then US will also suffer, with many oil rigs closing down. In 2014 , the oil rig count was close to 1660 oil rigs, now only 886 .

If oil price is too high, the emerging markets will suffer and this is bad for the global market. If the oil price is too low then oil producers will suffer which is bad for many companies like BP, EXXON, SHELL etc.. So it is best for oil to hover around USD 70-78 pb.

The OPEC + ministers said that the ultimate goal in oil market is stability of oil prices and less volatile. Now Brent is around 71+ pb.

Brent now is 71.40

Brent now is 71.11

Finally, oil climb after 10 days of losses. Very happy to see brent holding very well above 70 pb.

The last Qtr result, Reach Energy made maiden profit with Brent oil 65 pb. This coming Qtr is even better since Brent is rangebound from 70-85 pb, plus good forex for RM 4.12 and Kazakhstan currency Tenge 373 to 1 USD.

It is like putting FD for 1 year annual interest 200%

Slowly sir, too fast also cannot. Let people take profit. Then come 3Q 2019, with the completion of the Central Processing Facility, then the oil production hit 12,000 bpd, then we start to look at RM 1.00 above.

Wait till it hit 50s above, then come QR, then it fly up to 70s

Soon Reach will hit 50s above. Just be patient.

Reach has ZERO BANK BORROWINGS

Sapura debts very high RM 15 B

Crude oil is a very important commodity which can be converted into hundreds of other products.

Oil price up by 1% today after Opec agreed to cut production soon.

Today is Opec Technical meeting in Abu Dhabi. Come early December in Vienna is the 175 th meeting.

Brent at this price is still good. Reach Energy is still making profit. The demand for oil is still great.

Yes, this Sunday , meeting with Opec + in Abu Dhabi.

A technical committee for OPEC+ is set to meet this weekend to consider options for 2019, including a possible production cut. Tomorrow in Abu Dhabi the meeting will be held. Lets hope Monday , oil price will start to move up. There is another Opec meeting this early December.

Happy holidays

Reach NTA is 74s, oil demand is good. Countries like China, India, and Japan are buying up oil at so low price now. Soon, oil shortage and the whole process of K Wave cycle repeated.

The Iran Sanctions by Trump administration is just a ploy. Trump requested Opec to pump more oil to replace the loss of Iranian oil. However, Trump allows waiver for 8 countries to buy Iranian oil. Hence, we have excess supply in the market. However, the coming Opec meeting will help to rectify this problem. Saudi and Russia have bilateral meeting recently regarding the oil production cut

Opps sorry, next Opec meeting in early December 2018. 6 and 7th Dec

Opec and Opec+ meeting in Abu Dhabi this coming Sunday will discuss about 2019 production cut. Let's see how it goes. Anyway, Brent is still above 70 pb. Since Reach Energy is going downstream business like refinery, then the oil price either way up or down does not matter much.

Sorry for the typo error

No sir, I am not a member of the staff. Correction....The CEO .......

On 8th October, spudding of exploration Wells K-16, Kariman Field was done by 4 service providers, and one of them is Sinopec, a renowned og company from China. Reach has spread its wings not only to EU but also China.

Well done Reach. Fantastic.

It will go up

Reach is for long term investors. Just wait for QR, expecting good results. Also wait for new oil Wells in Kariman, Yessen and North Kariman Fields.

Yes, sun33. Can still buy, but must not play contra. Buy and keep

Relax and stay cool

Hi newbie_2016, long time no hear from you. We were good in 2016 together in Hibiscus, at that time only 19.5s.

Hi Nicholasming91, any TP from the Islamic Bank?

QR, my calculations is Revenue is RM 77M and profit is RM 20m

In oil business, oil price up then you sell oil, if oil price down then you do refinery and sell the end product. Either way, oil up or down, Reach make money

Hi toffeemoise, my tp is 70s to RM 1.00, but have to wait. No rush .

I am in the oil stock since 2016, guys. Just be patient. Our CEO is working very hard to get new major shareholders to buy the Reach shares. His Vision and Mission is fantastic. The latest interview in NST on the 5th Nov speaks volumes of his dreams and hopes to bring Reach to new heights . Let us wait it out .