Hidup..mana ada finish.

This is something to consider
They issued ESOS on 1 nov 2019, exercise price 0.33 (tranche 1) and 6 Nov 2023, exercise price 0.23 (tranche 2).

Ok. Annual report as usual, nothing extraordinary. Only thing I noticed DCR improving from usd77 to usd 94/day (still lower compared with other southeast Asia). They achieved rigs utilization 83% far better than previous year. Order book stood at 1.7 bil.

What in annual report guys. Pls share ?

Ya I'm thinking the same. 1 lot 100 if 900,000 lots = 90,000,000 mil shares. Wow! Kaya lor.

Velesto still a good company..roce improving. You need some patience to reap the benefit.


https://finance.yahoo.com/news/velesto-energy-berhad-klse-velesto-053617324.html

We can see more dividend this year.

Oil price inching up to usd 90 again. Good for DCR. Hope velesto get usd150k to 160k per day.

It will go down, but I don't think drastically. The reward is too small.. just like a small token for those long term holders (IB, institutional, etc.). Yesterday ex-date, let see today..

https://www.nst.com.my/business/corporate/2024/04/1037612/hlib-recommends-investors-eye-velesto-potential-rebound

Energy stocks bull run coming soon.

Oil prices expected to remain high

Analysts said that according to the current trends, along with the shortage in the oil market, oil inventories are expected to further decrease, which in turn will push oil prices to continue to remain high this year.

"Based on IEA forecasts, we believe Brent crude oil prices could rise to US$95 to US$105 per barrel in the near term."

Throughout the year, analysts continued to maintain their earlier forecast, which was to remain unchanged at $85 per barrel.

Year-to-date, Brent crude oil prices have averaged $82.3 per barrel, which is roughly the same level as at the same time last year.

In general, analysts continue to give an "overweight" rating to the oil and gas sector, and in addition to the companies listed above, the preferred stocks include Malaysian International Shipping (MISC, 3816, main board transportation and logistics stocks), Maritime Heavy Industry (MHB, 5186, main board energy stocks) and Velesto Energy (VELESTO, 5243, main board energy stocks).

They bring former ceo/president back. Back in 2019, Velesto, Sapura and sp setia doing good under his realm...This is part of Govn initiative to boost bumi companies.

https://www.klsescreener.com/v2/news/view/1306207/abdul-rahman-said-to-return-to-pnb-team-up-with-raja-arshad-again
Velesto maju kedepan. Don't miss the boat.

Relax lah bro..no dirty words. Just ask only. Doesn't matter if your correct, just want to verified only. Just normal conversation..pls Respect

Statens pensjonsfond utland disposed ready..zero fran.

This is 31st March 2022 announcement lorr..now 2024 ready..biar betui

RJ87
53.8% from PnB. Just matter of time they push all the way up.

RJ, Where you get this info?

I believed yours not yet update?

Are you sure Urusharta Jemaah this hold the portion?

Cannot find any data of it, that's why asked you...

Dont bother them, they all same guy with fake ID.

IB TP setting..
HLIB - 0.35 (buy)
Maybank - 0.35 (buy)
Kenanga - 0.34 (o/perform)
BIMB - 0.34 (buy)
Affin Hwang - 0.33 (buy)
TA - 0.33 (buy)
OGC - 0.31 (hold)
UOB - 0.29 (hold)

Remember what TP kenanga give previously..

Hahaha! All same guy change name only...nice try.

Velesto Energy Berhad's estimated fair value is RM0.52 based on 2 Stage Free Cash Flow to Equity

Velesto Energy Berhad's RM0.28 share price signals that it might be 46% undervalued

The RM0.33 analyst price target for VELESTO is 38% less than our estimate of fair value

These are the drilling companies that were affected by contract termination from Aramco.
1. ADES - saudi based drilling company
2. Shelf drilling (COSL) - owned by China petroleum
3. Valaris and borr drilling - owned by USA

All are established oil companies and mostly operate in midle-east for higher DCR. To remove this rigs to southeast Asia takes very long journey and not profitable
(except maybe for china drilling company). I'm 100% sure not for ADES and Valaris..mereka tak pandang pun perairan Malaysia...come on guys

I don't know this doomstock working for which bank..nice try😂🤣

Just think about yesterday pump and today suddenly throw..with Aramco news. What does it mean. Furthermore that is old news that repeated again. Nothing solid news to show to collect cheap tickets. Bankers you know lah...

Buy buy buy. As long PNB hold it no need to worry. Got strong back from Petronas. CGS claiming is rubbish. Those rigs terminated by Aramco will go to Europe. European b
Pay high DCR. They not interested in southeast Asia.

Raya window dressing....lai lai 0.40.

Perdana 0.335..when Velesto?

Seems like institutional buying.

Yes it will give you total disappointment even can dip to the lowest price as possible to frustrate the weak holders and force them to sell. Those got strong holding power eventually get the reward. Velesto in uptrend with healthy cash balance and huge order in hand.

So Macgyver what is your target re-entry price? 0.22 possible or not?

You cannot get 0.22 anymore unless certain circumstances. If you can get 0.26 is good enough. I consider below 0.30 is okay. In 2019, I enter @ 0.295 and within that year Vele shot up to 0.40 until covid 19 crashed the stock market. Good luck

Buy on weakness. All rigs in full swing and revised DC rate. Up coming qtr should be better than last year.

Can queue @ 0.26/0.265..buy. 1st qtr 2024 expected good result. Lai lai..

Some institutional want collect cheap..

PNB owned 12.62% of Bumi Armada shares. That's huge also.

Be careful. PNB might throw Armada shares.

Today quite hectic day for me. I miss out to lock TP @ 0.31..anyway I managed to locked @ 0.295..take some profit first la. Q to buy again below 0.28 consider ok la. I changed my investment technique...hold to long boring, no excitement in there..😁😆.

Most probably EPF will start buying soon. It will help to push the price up further. EPF always looking for quick money.

From 0.60 to 0.50...boom!..adoi!

After 10 years another huge profit.

The last I saw velesto declared such a profit in 2014 (in 2019 ok2 je). Good start in 2024 with higher DCR..

Gosh! Not again in this blog ..all the while here quite and harmony. Come on guys.

The price has already been consolidating for long periods since the last spike from 0.15 to 0.275 in Jan/Feb 2023. Time to break new ground soon (subject to qtr result). Hope qtr at our favourable side.

Some foreign funds take profit last few weeks (Statens, Vanguard and Norges bank). They sold almost 170mil shares. Wonder why price can't break the 0.275 wall. Let's see today.

Normally DCR paid based on oil price.

Oh! NOOOOO!

HLIB Research, which is maintaining its “buy” call on Velesto Energy with a target price (TP) of RM0.29, said it expects 4Q23 earnings to come in between RM28mil and RM35mil.

IB optimism on vele upcoming 4th qtr earning. Hope velesto won't disappoint us again.

“Our current forecast blended DCR for financial year 2024 stood at about US$120,000, which we think is too conservative following the contract extension with Carigali Hess Operating Co for 18 months at a day rate of US$135,000 for Naga 8.”

The research house said this development would serve as a benchmark for contract wins and renewals in the near future.

“We think the day rates of contract renewal with PETRONAS will likely exceed US$125,000, as we understand that Velesto is now bidding for new jobs with day rates at the range of US$125,000 to US$140,000, in line with market rates,” the research house said.

Maybank TP 0.34
HIB TP 0.29
Kenanga TP 0.26 ( 😆 )

Brent crude seen breaching US$150 if Hamas-Israel war escalates, Malaysia to get revenue boost

Latest - TA give TP 0.33c now.