Chang 206, I don't get what you mean by "The settlement price at expiry is calculated based on the 5-day average closing price" for DNeX-CA.

Dato Sri Syed Zainal Abidin is the group MD. Encik Zainal Abidin is executive director who is the majority shareholder of Arcadia Acres S/B.

From theory to production, it will take ages to materialise. From design of machines to sourcing of materials and so on...

We can only hope that the group MD, DATO' SRI SYED ZAINAL ABIDIN BIN SYED MOHAMED TAHIR can convince potential parties to consolidate with the major shareholding of DNeX. Only then, we can talk about fund raising for Silterra and Ping. The biggest problem so far to overcome is to find the long term investor for 359 millions shares parked at Annedjma capital and I believe the 95 million shares directly owed may also be looking for buyers. These two parties were two of the three parties that sold the shares to Foxconn Singapore.

The UK’s Oil and Gas Authority, the industry watchdog, plans to hold an oil and gas licensing round for the North Sea this year, the Financial Times has reported, noting it would be the first licensing round since 2020.

The news comes weeks after reports that the UK government was considering a ban on new drilling permits in the North Sea. Discussions reportedly involved an immediate pause on licensing and a ban on all permits from 2040.

In this context, the decision to launch a new licensing round is bound to spark controversy amid the UK’s push to move away from fossil fuels and into a fully renewable future. It was this push that put an end to new oil and gas licensing rounds two years ago.

Now, however, with the Ukraine war sending oil and gas prices soaring, it is adding some $50 billion to the collective bills of UK households. The cost-of-living crisis resulting from the energy price rally has sent the UK government scrambling for quick fixes to the situation.

In search of more oil, after the government banned Russian imports, Prime Minister Boris Johnson recently visited Saudi Arabia and the United Arab Emirates but, per comments from officials there, was left empty-handed by his hosts, the Wall Street Journal reported last week.

Meanwhile, the renewable energy push at home remains strong. The Oil and Gas Authority will this week change its name to North Sea Transition Authority, while the government drafts so-called “climate compatibility checkpoints” for all future oil and gas licensing rounds.

The Financial Times notes, however, that these checkpoints were hastily revised recently to include stipulations allowing regulators to overlook environmental considerations if there are national security concerns.

“The team [at the NSTA] are getting ready some packages of licences that have discoveries that are pretty much ready to go,” said the head of the Oil and Gas Authority, Andy Samuel, as quoted by the FT.

We are lucky that the share price is still above RM1.

SinGor, I was as surprised as you were. Arcadia Acres Sdn. Bhd. was the single biggest shareholder. Now we have to wait and see who can have the capability to become the biggest shareholder of DNeX. I believe Annedjma Capital is just temporary holding onto it to earn some. Anyone has better idea.

The good thing is that 359 million was not dumped in the open market. Annedjma Capital Sdn Bhd is involved in the 359 million transaction as "indirect" and 94.5 million as direct. I don't understand the meaning of "indirect" - could be pledged to third party such as bank....

Then, we need some kind of "catalyst" for operator to push otherwise stay sideway.

We may need to hope for EPF to buy.

Just my opinion that DNeX may be classified under GLC or China linked company, even though Foxconn is holding 3+%.

If I am not mistaken the net profit per barrel after tax is at least USD30/barrel for Anasuria cluster if the price is at least USD80. If RM100 million is needed ( about USD24 million), production at 6000 barrels per day @USD30/barrel profit, it will only need 133 days to pay back the investment plus the time to develop the Avalon field.

Based on the following information, it is very unlikely to spin-off with Ping Petroleum. Syed Zainal estimates that the group’s O&G unit would need at least RM100mil in capex to develop its newly acquired Avalon oil field in the UK. The Avalon oil field is 100% owned by Dnex and Syed Zainal says the group may be looking for partners to develop the field.“Thanks to the current high crude oil price, we could use internally generated funds for the Avalon field. We expect that the field could have the capability to produce between 5,000 to 7,000 barrels a day, which will double or triple our current production,” he says.

It is under OGPC and I can't see big contribution from it. If there is money to be made, why not? OGPC has not been contributing much to DNeX. To me, OGPC has been a bad investment.

I think it will still be within the range RM1.0 - 1.05 for today.

It did not happen. So it will be similar to this morning pattern till 4pm and see the next move the operator is going to make.

Would it jump start at 2:30pm again?

It is hard to move beyond RM1.05 this morning. It looked like push higher to sell at first, it is more likely now to be accumulating since the price has come down to RM1.01-1.02. We will know from the closing price by the end of today.

scjm, thanks for your sharing.

Itw1123, what do you mean - No IDSS?

scjm, thanks for your info. Why did the "operator" jump started up 4 cents? Is the operator the main shortist?

7.35m @RM1 was done for the last 10 minutes. scjm, what are you expecting tomorrow?

scjm, lucky gut's feeling.

Here come RM1

May have a chance to test RM1 today.

scjm, your target of RM0.98 is achieved. What is next target?

Any news? 2.5 cent up from this morning closing with only 15 minutes trading.

The tactic used to spike 1.5 cent - Meaning? Announcement coming? Or Push up to sell?

So far not a good sign as the selling is consistent. Question to ask is whether pushing up slightly to dispose?

Would it go down to RM0.865 or lower? May be I should top up at RM0.85 tomorrow.

OngKawKaw, cheer up. Some day losing some day gaining on paper. Ha...

More selling tomorrow morning.

Ikan bilis are all selling. Fear of losing can cause panic. Tomorrow is another day. The operator can decide to be IDSS or The whales.

The retailers are panicking.

Momentum of going down is too strong.

Can't see any support at this level. It is totally controlled by the operator. Up or down is the call of the operator.

It is all up to the group MD Syed Zainal to manoeuvre to benefit DNeX but he did mention that he needs to create value first individually - Silterra and Ping

To increase the capacity from 8.5 million annually to 10 million requires RM350 million - 60% ( DNeX RM210) million. The Avalon oil field requires RM100 million - (alternatively looking for partner) The Avalon could have the capability of to produce 5000 -7000 barrels a day. Total fund required for this two projects is RM310 million. UK government can remove barriers facing investors and developers, and help projects come online more quickly at North Sea and the Avalon Oil Field is in position to take advantage of it.

Thanks bro

jk20598, where did you the information about the listing of Silttera?

papaya, well said.

I think it is all control by whoever they are. Just have to decide whether going up is more probable than going down for mid term to longer term.

SinGor, good or bad? Move higher or push lower?

10Berkamp, you are right ONLY IF the other 3 quarters has the EPS of 1.4. The 2nd quarter has the EPS of 1.4, the 1st quarter has the EPS of 11.03, we are expecting the EPS to be much higher than 1.4 for the 3rd & 4th quarter, right?

Hibiscus is attacked by ???

Congratulations to those who bought below RM0.9. This is the 2nd round going up to the previous summit at much faster pace. Profit is guarantee from all 4 cylinders engine. PE is 7.26 only. What more to ask at this low price.

scjm, you are spot on again today.

papaya, tak apa. Yang penting dapat untung.

scjm, either the IDSS or the operator teases you with RM0.98 and down again. I believe it will move up by 12 noon.

papaya, you are the new sifu.