Maybe there is an announcement soon, one for Naga 4 and another for Naga 8. Fingers crossed.

😂🤣🤣😂. Ya kah.

Time to reward the long-term investors. 

Hopefully it will break 0.20

🤣😂🤣😂

KUALA LUMPUR (Jan 15): Sarawak Premier Tan Sri Abang Johari Openg has commended Prime Minister Datuk Seri Anwar Ibrahim’s recognition of Sarawak state-owned Petroleum Sarawak Bhd (Petros) as the state's gas aggregator.

The state government and Petros will work closely with the federal government and national oil company Petroliam Nasional Bhd (Petronas) “to ensure that Petros carries out its role as the sole gas aggregator without interruption to the supply of gas for consumers, including investors”, said Abang Johari in a statement on Wednesday.

The collaboration will drive Malaysia, and in particular Sarawak, into becoming “an energy hub”.

“This cooperation will also enhance Malaysia’s global competitiveness in attracting investments, technological research and new industries, particularly petrochemical derivatives, and thus be aligned towards the creation of high-paying jobs and the economic growth of the nation,” said Abang Johari, who is also known as Abang Jo.

A day earlier, Anwar was reported as saying that while Petros had been granted authority as Sarawak's gas aggregator, it would not interfere with Petronas' existing operations.

😂🤣🤣😂

🤣😂🤣😂🤣

🤣🤣😂😂🤣

😂🤣🤣🤣

Dark horse, you nailed it man..clever.

Those who don't see the hidden gems inside AIZO will talk like peanut brains. Don't bother the naysayers. You are already in the stock market field, and the market, as normal, has ups and downs; that's normal. Don't bother them... Layan jer buat bodoh...🤣🤣🤣😂

Donald Trump wants shale producers to activate their drilling work, but it seems not many shale producers are aligned with Trump's idea. They've been slashed badly previously during the Biden administration by so-called green policy. Now, they are not keen to come back and do the drilling job unless Trump can pursue them with some special privilege, or else "drill, baby, drill" is not going to work out. 

0.10 kah..Lai Lai saya tunggu dkt sana 🤣😂🤣🤣

😂😂😂

No worries, all is well. 2025 is Velesto's year to come back and shine. 

A look ahead to 2025 fossil fuel market price..
https://oilprice.com/Energy/Crude-Oil/A-look-Ahead-to-2025-in-Oil.html

mavisdrac

Macgyver111 what you really think? You think velesto can rebound to 0.30 or should i sell at 0.19 lol

Haha! You asked a very sensitive question that no one dares to tell you exactly what is going to happen in the future 😂😀😃. Follow your own instinct; trade wisely. 

EPF coming. EPF ceased to be substantial shareholder of YTL.

No worries. Baba Vanga predicted a rebound this time... all the way to 0.35 😅😄. 

BOD just bought 1 million shares recently at 0.195. Insiders know better than us. 

I know you guys are frustrated, but just think practically: PNB, as a major owner or shareholder, do you think they want this company to go bankrupt? They will lose everything. If PNB really wants to exit, the only choice is either to hand over to a new owner like what they did to UMW Toyota (sell to Sime Darby) or they privatise it (like Bplant). 

Company cash flow is healthy, and a favourable order book is in hand... How can it go bankrupt? Unless you have evidence to support your theory, I would like to hear that too. 

They flushing out all the foreign investors before local institutions join in... I guess. Nothing wrong with the company. Don't compare Serba with Velesto. Serba is facing accounts fraud charges, and PNB is not an owner of Serba. 

Should be separate.

Syiok tgk naysayers barking..😂🤣😆

😂🤣😆 layan jer.

Still unclear what PNB's next move is. 

Velesto deserved 0.30 and above. Many institutions sell ready. Need PNB or other big guys to step in. 

PM will announce it soon, sources said...maybe during the 2025 budget presentation. Hopefully win-win situation for both parties. 

Sarawak premier Abang Johari Openg has revealed that a solution has been reached over the dispute between Sarawak and Petronas over the rights to oil and gas (O&G) resources in and around the state, with Prime Minister Anwar Ibrahim set to announce it soon.

Howtha Singh...

No people trust abg. Who is no people and how many of them?
Pakai tembak jer.

Buy lah, apa mahu takut. Directors buying mah under SIS. They know better than us about the future of this company.

https://www.thestar.com.my/business/business-news/2024/12/09/improved-earnings-visibility-forecast-for-velesto

Very rare Maybank gives credit to Velesto. 

Morgan Stanley Raises Brent Oil Forecast for Late 2025 After OPEC+ Move https://oilprice.com/Energy/Energy-General/Morgan-Stanley-Raises-Brent-Oil-Forecast-for-Late-2025-After-OPEC-Move.html

Yes. Then buy again.

I think TA is one of the lousy research centers. They did not fully digest the true story. Naga 8 was not suspended due to Velesto client cancelling the order. Actual Naga 8 completed drilling work in advance, or, in a simple form of words, we can say they completed it before the actual due/agreement date. The contract for Naga 8 was issued on 1st November 2023, and the commencing date is on 19 April 2024 until 18 October 2025 (1 year 6 months), but the Naga 8 crew completed the extraction work within 8 months. That means they are already 11 months ahead. This will give an opportunity to send Naga 8 for a special SPS survey. The contract amount is USD 74 million. They will receive the same amount even if they drag it until 18 October 2025...which is better, to complete the job quickly with efficiency and receive the full payment or drag the drilling job slowly, whereby it will swallow their operation cost?

I don't know how TA does the analysis... shop lot IB.

Hopefully.

Mavisdrac, the below article might give you some clue either to buy or not. Happy trading.


https://www.thestar.com.my/business/business-news/2024/12/04/correction-in-og-counters-presents-buying-opportunity

mavisdrac

Macgyver111

so should i buy now or not.

Sorry, Mavisdrac, nobody dares to say that. Even all IB previously said TP 0.30 but now change topic. The stock market is unpredictable. We can give you some rough ideas; the rest depends on you. Trade wisely. Do your own research before buying and selling. 

DJThong, this is your answer. Normally I don't reply to silly, brainless questions because I don't like debating or arguing... it's a waste of my time. 

When asked whether the dynamics between Petronas and the states of Sabah and Sarawak could further weigh on market outlook, Megat says, “A lot of statements are being made, but at the end of the day it is about the capex that will be rolled out in the next three years. Worried PETRONAS will reduce the capital expenditure for upstream. As for now, Velesto still relies on PETRONAS contracts. 

Here is a quick recap (Edge market interview Velesto CEO). 

1. Velesto sent Naga 5 for 55 days of a major maintenance program in Singapore. Naga 5 just returned back from 2 years of integrated drilling work for Hess Carigali, which was completed earlier than the actual assigned date (👏👏👏). Naga 5 will be assigned to a new project in mid-January 2025 onwards, as the group is in the final stage of securing a 2-year new contract. (expected new contract announcement soon). Naga 5 is free from any major maintenance work for another 5 years once this SPS is completed. 

2. For now, three of its jack-up rigs are under contracts that will run until February 2026. Of the remaining three, Naga 3 and Naga 8 are bidding for jobs from late 2025 onwards, as the two rigs are scheduled for dry docking in the first half of next year. The maintenance process, dubbed special periodical survey (SPS), will take about two to three months before the rig can resume operations. That means Naga 3 and 8 are out of a job from Jan to March. With two SPS to be conducted next year, Megat explains that each SPS capex amounts to between US$10 million (RM45 million) and US$20 million. And the capex would eat into Velesto’s earnings in FY2025. On top of that, there will be a vacuum in earnings when two rigs are dry-docking at the yard. 

3. Velesto has upgraded Naga 5 and Naga 6 to allow them to conduct multiple scopes of activities simultaneously, thus reducing charter days for clients. Naga 6 will also be installed with a robotic arm by 1Q2025, which automates some of the pipe installation process. The company is already exploring autonomous drilling.

4. CEO Megat Zariman said that Velesto is also looking at partnerships to expand into other rig-related projects such as decommissioning that will be a new revenue stream for the company.

5. The group is keeping a close watch on the upcoming Petronas Activity Outlook, which had previously indicated that up to 13 rigs would be required in 2026.

6. The average DCR in 2014 was high at US$151,000, against around US$115,000 currently. 

7. The past two industry downturns dragged Velesto, which was known as UMW Oil & Gas Corp Bhd then, into severe financial stress, mainly because its new rigs were unable to secure enough chartered contracts. Megat certainly does not want history to repeat itself by not expanding fleet size aggressively and reducing dependency on local contracts. At least the CEO is aware of the importance of securing a long-term contract and not solely depending on PETRONAS 👏👏👏👏.

Expected to see a massive rally only if Petronas wins the dispute. Institutional will rush in buying O&G counters, especially Petronas, and Velesto is not left behind.

I assumed this dispute was not between Petronas and Sarawak; it is between the federal power vs state power. Various analyses said that Malaysia could go bankrupt if Sarawak wins. We are affected as well, especially those who are contributing to EPF. EPF and Amanah are the biggest shareholders; moreover, 20% to 30% of federal government revenue comes from Petronas. 

All because of an ongoing dispute between Petronas and the Sarawak government for sole discretion of gas. Investors and institutions are skeptical about the future of Petronas; it will affect the Petronas revenue if Sarawak wins the court case. There are two different types of ordinance: Petronas follows the Petroleum Development Act, which was amended in 1974, while Sarawak refers to the All Mining Ordinance (OMO), which was established in 1954. The worst nightmare for the federal government is that they worry other states like Sabah, Kelantan, and Terengganu might follow Sarawak's footsteps. What do you all think? Who will win?

All depend on oil price. Trump taking over the White House in January 2025. Hopefully, OPEC+ will maintain the oil price in the 65 to 70 range. 

Think Velesto can weathered Trump's agenda: "Drill, baby, drill.". That is the main reason they implemented an onboard robotic system. Extract more oil with as low a cost as possible; even they can be profitable at the breakeven-point. 

Oil prices in the global market
The average break-even price for tight oil has been falling, reaching an average of $44 per barrel. The average break-even price for onshore Middle East production is around $30 per barrel, while the average break-even price for offshore deepwater production is around $43 per barrel. 

Seems like investors start to dump after the dividend payment..😀😃

That is why I said diversity is important if we are thinking of investing in this company for the long term and not because of dividend payments. Today they might pay a dividend; tomorrow they won't if their earnings are deteriorated. You all know that Velesto earns from the DCR, which comes from oil extraction for customers like Petronas and so on. While DCR depends on current crude oil price (which is in USD). If crude oil prices slide, then it will affect this company's performance. Another worry is Trump might bring down the oil price. This is what happened to UMW. The key point is to diversify their business for future growth and give confidence to the long-term investors. Anyway, let's wait for the quarterly announcement; it was supposed to be today, and where is the price heading after that? 


Blacksmith
I still don’t understand what is happening with this counter

Screener's monthly membership members are very satisfied, and they can synchronize the KLCI stock price for only RM5. Velesto - T.Cash 212.100; Total Debt 359.150; Debt to Cash 1.693; Debt to Equity 0.137