Hang Seng Index down. Anyway, brent oil price still above 77

500,000 shares at 34s, bought by long term investor. As oil price is more or less stable at 70-80 pb, with oil production increased and forex 4.14 now, Reach Energy will make good profit

The oil reserves in 1P is 24.607 MMBOE . That makes REACH a billion dollar stock !

Hi VFTRADER, thanks for the info. Reach immediate tp is 40s. But Reach is for long term investors. The good side is oil production will increased from 2900 bpd to 3900 bpd in the 2H 18. In 3Q 19, with the completion of CPF , oil production can go up to 12,000 bpd !

Say goodbye to cheap oil . The oil prices now are rangebound 70-80 pb for Brent . Reach is selling high grade Brent oil mainly to Euro Asian Oil SA

Backwardation is 0.25, meaning demand in forward prices is excellent. Not enough oil as of now due to high demand so much so traders are buying in Backwardation

Brent oil just exceeded 79 pb , never seen b4 since Nov 2014.

Hi Franklim1989, light sweet oil is high grade oil with low sulfur and great demand by refiners whereas the heavy sour crude oil has high sulfur contents and sold cheaply to refiners

Then oil price will hit above 100 pb !

Long term investors are coming into Reach

Another good news is Brent is going to hit 79 pb soon . Reach oil production is very high quality , it is called 'light sweet oil' with very low sulfur

By then the days of 30s, 40s , 50s are history.

Then , Reach revenue will easily hit RM 100 M with net profit of at least RM 35 M

Drilling of new wells like NK-3 explorationhas reached its target depth of4020 m, soon more oil will be pumped out

At present Reach has 60 oil wells and with modern technology oil can be offtake at a very efficient rate

No worries Franklim1989, Reach has so many long term investors. More are coming in . The Qtr results is the BEST so far. Its a good humble start

There are many long term investors here since the last Qtr produce excellent and convincing results. Both the top and bottom line are good.

No block , sir. 34s very easy to break.

Buy and keep long term, guys. Something like FD in the bank, it is FD in oil reserves in Emir-Oil

Brent oil as for now at above USD 70 pb is good enough already , Reach can make profit. Brent now is 78 pb, with more upside since Iran Sanctions is coming soon

Profit taking is healthy and normal. But there is good support by long term investors.

The future prospects for Reach is excellent.

34s , boleh runtuh

Buy and keep long term, guys. 40s is the next immediate target

The 3 reasons to buy Reach now are, 1. Zero bank borrowings, 2. Making profit now, a good start, 3. New oil field are being drilled.

The immediate tp coming lo

Emir-Oil is transporting all the oil from the fields to a new oil terminal since June 2018, and then delivered to its customers exclusively via pipelines. This will helped to reduce cost and certainly improved on the profit

Brent oil still moving up approaching 80

Hi guys.... 40s

Immediate tp 40s.

No need to wait for announcements, sir. Very simple calculations, brent at 77 pb, oil production at 2900 bpd, forex at 4.10 , Reach make profit. Next Qtr, oil production increased by 1000 bpd, so totalled 3900 bpd, plus Iran Sanctions, brent oil goes further up, Reach make more money

Emir-Oil , land area is slightly bigger than Singapore. Now, where can you get to buy a piece of land with lots of brent oil beneath for only 32s per share ! Reach Energy offers you great discount to buy and keep oil reserves ( like FD ) for only less than 50s ! Furthermore, Reach has ZERO BANK BORROWINGS unlike Sapura, now making RM 11 M profit in the latest qtr report.

Yes, I do have some Vivocom shares. Just bought some last week and keep.

The cash and cash equivalent also showed an increased from RM 27 M to RM 37 M within 6 months ie an increased of RM 10 M ! We must remember that Reach Energy only took full control of Emir-Oil in May 2017.

The net cash flow from operating activities is positive RM 27.9 M , which shows healthy net cash position in their daily operations.

Just for the info, Reach Current Assets increased to RM 86 M from RM 66 M within 6 months ! That is an increased of RM 20 M. The Current Liabilities is almost unchanged.

I am waiting to buy cheap

Hibiscus is a good stock. Now it is a bargain buy. Next week will rebound due to oversold position.

Yes , Reach Energy sells Brent oil, now the price is USD 77 pb. But selling to domestic usage, it is cheaper as stated in the contract with the Khazahstan govt.

Franklim1989, CL 70.04.......I only monitor Brent oil because Reach Energy sells very high quality low sulfur oil.

I bought some more at 31s, slowly collect to keep long term. Reach Energy, lets hope next Qtr will be better.

Reach oil rigs are land based , hence wear and tear is much lesser than off shore Hibiscus oil rigs.

Sapura , no comments . The debts too high !

Anasuria shutdown for only 2 months which is normal for any oil rigs off shore. So Hibi is still good.

Hibi dropped because of temporary shutdown of Anasuria Cluster. Reach down a little bit on small volume is ok.

Reach is stable and good. 2H 2018, oil production will be 3900 bpd

Hibi dropped badly because of Anasuria Cluster is put on hold temporary.

Go to Reach, guys

Hi guys, the immediate tp is 40s

Hi 6986610, run in but not run out