Perdana hot..

Maybe, maybe not. Some syndicates got allocation of huge fund (black syndicate lah)..they aligned and communicate through various groups. If really EPF joining the party then I guess good news for all of us..TP 0.50c achievable. Standby buckle up seatbelt..hope for the best.

If go up and reach our TP we sell if dip we collect..simple jer

Big2 Institutional including foreign funds won't buy for contracts announcement actually, they already knew it earlier before announcement (get from insider news...pay money lar)...nevertheless they already load kaw2. Maybe medium shark buy to today to push the price hope other will follow...quick profit. Normally bilis kena hit lah.

We wait for EPF..game changer.

Limit down ler..mana ada sejarah selepas good news announcement velesto limit up. Velesto not a limit up counter, Velesto rise slow and steady. As I said earlier below 0.30 is good buying for mid term investment.

Mungkin dia mahu kasi dip sekali lagi sblm break 0.30..peluang masih ada lagi.

No more dip I guess

My personal TP 0.35...😆

Dragon ong sdh mari

Ni mcm kenanga prediction (0.17) wrong lah. Kenanga tewas. Guess HLIB TP (0.27) almost reachable..maybe this week 👏👏👏

Highway to 0.40..🤣

Woah! So many investors suddenly emerged out of no way and pretty much confident veruslow can go up to 0.40...😂😁

Calvin is bad evil guy. He is supposed to church father with good soul and heart but in reality he is not. He give free stock but at the same time pull the crowd towards christianity...this is real fact and I'm not bluffing. I3 should band him instead band other. Please beware of him.

Actually they don't bother either you hold or not hold....amount small lah..

Looking at the trend, qtr must be good. Past experience before one month 3rd qtr release last year, there is huge sell off...this round opposite.

Last week - 0.23 to 0.235
This week - 0.24 to 0.245
Next week - 0.25 to 0.255

Near before 4th qtr announcement...could break 0.30c. Lai lai lai dragon year ong sdh mari 😂😁

I mimpi 0.32 (not 0.23). Change the no three position bro..😂

Hari2 naik half cent ok lah..blh sampai 0.30c. Skt2 lama2 jadi bukit. My prediction correct lah Lewis you mentioned wrong la not 0.004c tapi hari naik 0.005c...🤣😅

Kenanga (TP 0.17c)
TA (TP 0.33c)
HL (TP 0.27c)
Bimb (TP 0.30c)
Latest - Affin Hwang (TP 0.29c)

Call tu BOD suruh tukar saham jadi saham cpt kaya..bukan lu sja puas hati semua warga veryslow puas ma..

Mahu cepat kaya beli skim cepat kaya...🤣😂.

Now shark is swimming around there and here like headless chicken. Investment bank and foreign fund hold tight.

Sabar just hold few more month. HLIB add in more shares under balance fund few week ago.

The war start in between kenanga (TP 0.17c) , TA (TP 0.33c) and HL (0.27c)...

My personal, I think HL win first...hahaha!
Hope lah...nothing wrong ma

Bilis always miss the opportunities (miss the boat dispite they didn't realise now is the correct time to collect), always buying after spike (high price) where sharks throw to them and hope for lump sum profit...that's not practicable.

Latest transaction..

1/12/2023
Datuk Ling Kien Sing
Purchase - 2,370,000 shares @ 0.22c

5/12/2023
Norzaidi (VP)
Purchase - 140,000 @ 0.215c

Waiting for correct timing to TP again..we should follow them also...😀😎

See this previous transaction from both of this BOD..

1) 4/9/2023
Datuk Ling Kien Sing
Disposed - 2,009,100 shares @ 0.25c (RM 502,275)

2) 5/9/2023
Norzaidi (VP)
Disposed - 143,000 shares @ 0.26c (RM 37,180)

Earlier before the the 3rd qtr announcement. They knew it 3rd performance not as expected, so they disposed first to collect later...smart move isn't it..

As good as can bring the share price up to 0.36c..my guess. That's why BOD buying now to get free bonus before Ramadan and Raya. They not going sell for penny profit. 0.36 and above very good profit for them and for us also...🤣😂

https://oilprice.com/Energy/Energy-General/Buffetts-Berkshire-Hathaway-Raises-Occidental-Stake-To-277.html

That's nature of stock market..what to do.

RHB IB said Velesto Energy Bhd is set to benefit from the improving drilling outlook in the next three years, and higher HWU utilisation will further enhance its earnings gains, together with Uzma Bhd.

Something interesting caught my eye when I read last paragraph of this news. Saudi and Russia want Joe Biden out in next presidential election. Donald Trump is in favourable now.

"I think OPEC members like Saudi Arabia and allies like Russia would prefer to see Donald Trump reelected, and they may therefore try to drive prices up ahead of the election. It will be harder for President Biden to win reelection if gasoline prices are skyrocketing ahead of the election, so this will be something to watch in 2024".

We might see higher crude oil price in 2024. Higher CO price mean higher DC rate. Higher DC rate good for O&G.

I think possibility is there...for 100pb

Something interesting that caught my eye when I read the at last paragraph of this news. Saudi and Russia want Joe Biden out in next presidential election. Donald Trump is in favourable now.

"I think OPEC members like Saudi Arabia and allies like Russia would prefer to see Donald Trump reelected, and they may therefore try to drive prices up ahead of the election. It will be harder for President Biden to win reelection if gasoline prices are skyrocketing ahead of the election, so this will be something to watch in 2024".

We might see higher crude oil price in 2024. Higher CO price mean higher DC rate. Higher DC rate mean higher profit for Vele.

Oil & Gas - Petronas Activity Outlook 2024-2026
Source : KENANGA, Price Call : SELL, Price Target : 0.17
Last Price : 0.225, Upside/Downside : -0.055(24.44%)

This guy never hold any of the Velesto shares. I don't know why this guy targeting Velesto among many O&G companies out there. Most probably this guy waiting for cheap ticket below 0.17c...hahaha!

Long-time hedge fund manager, Doug Kass give bold oil price prediction for year 2024. Doug Kass got 40 years experience in this field and former research Director for Leon Cooperman's omega advisors.....

Kass's outlook suggests that the U.S. will experience sluggish growth rather than a recession. If so, oil demand will stabilize, making the market more vulnerable to geopolitical uncertainty, including Presidential election-year saber-rattling by North Korea, China, and the Middle East.

"With Russia and Saudi Arabia conspiring on production cuts, the price of oil exceeds $110/barrel, and the price of a gallon of gasoline in the U.S. approaches $6," warns Kass.

A possible oil price increase to $110 or more wouldn't be good news for consumers' wallets, but oil companies would welcome it.

In 2023, oil exploration and production companies' financial results were hampered by lower prices and tough year-over-year comparisons to 2022, when prices and profitability were high. If Kass is correct, the opposite could be true in 2024. A resurgence in prices and easier 2023 comparisons could make oil stocks big winners next year.

Long-time hedge fund manager, Doug Kass give bold oil price prediction for year 2024. Doug Kass got 40 years experience in this field and former research Director for Leon Cooperman's omega advisors.....

Kass's outlook suggests that the U.S. will experience sluggish growth rather than a recession. If so, oil demand will stabilize, making the market more vulnerable to geopolitical uncertainty, including Presidential election-year saber-rattling by North Korea, China, and the Middle East.

"With Russia and Saudi Arabia conspiring on production cuts, the price of oil exceeds $110/barrel, and the price of a gallon of gasoline in the U.S. approaches $6," warns Kass.

A possible oil price increase to $110 or more wouldn't be good news for consumers' wallets, but oil companies would welcome it.

In 2023, oil exploration and production companies' financial results were hampered by lower prices and tough year-over-year comparisons to 2022, when prices and profitability were high. If Kass is correct, the opposite could be true in 2024. A resurgence in prices and easier 2023 comparisons could make oil stocks big winners next year.

Petronas had guided a total capex of RM300 billion over the next five years, representing a 43 per cent increase from its previous five-year period.

"We believe this guidance remains intact, also taking into consideration that Petronas typically backloads towards 4Q of the year (as a reference, 4Q22 made up 45 per cent of its 2022 full-year capex)," Affin Hwang said.

Petronas' net-cash pile still stands at a healthy RM108 billion, down slightly from the previous few quarters, but improved remarkably since end-2020 of RM52 billion.

Affin Hwang said the beneficiaries of higher Petronas capex would include Velesto Energy Bhd and Dayang Enterprise Holdings Bhd.

Velesto, being the largest drilling rig provider in the country, is expected to see a higher demand of jack-up drilling rigs in Malaysia.

Petronas under its latest Activity Outlook report guides that it would require 12/14 jack-up drilling rigs for 2023/2024 (up from nine in 2022).

Meanwhile, Dayang potentially may benefit from both Petronas' increased demand for offshore maintenance, construction and modification, and hook-up and commissioning.

Brent rebound back. Velesto will follow the sentiment.

I3lurker, correct me if I'm wrong,

Cushing storage capacity 90mil barrels
Currently they only achieved storage level of 33%...there's huge gap of emptiness in there. This not included the SPR with draw last year. Just my 2c.

Ok noted thank i3lurker...👍

Look like selling pressure exhausted...let see the second half of trading trend and from there we can get some clear picture..

I collected some also..waiting for 0.185 to collect another batch (if lucky la)..Velesto Vice President (Datuk Norzaidi) and Datuk Ling also collect @ 0.215c and above. If price can go as lowest as 0.08c, definitely they won't collect now...

I3lurker forget to put 0.1 in front..anyway I hope he will get his TP.

"Oil markets may have been oversold," which could mean the recovery is a "short-term rebound," said Tina Teng, a markets analyst with CMC Markets, in a note.

In the previous session, the market was "spooked" by data showing U.S. output remains near record highs even though inventories fell, analysts at ANZ said in a note.

This tell us that API reading is manipulating..

Max 0.18c (I guess la). While oil is recovering after sharp fall...

Insider buying....

NORZAIDI BIN MOHD ZAHIDIN
Vice President, Operation
Acquired 140,000

Date of Transaction 05 Dec 2023

High selling due to pessimistic...worried for another covid lockdown and that likely not going to happen. Let see how low it can go and then grab few more. Covid no more pandemic its endemic

Velesto will compensate their royal staff next year (2024) through ESOS which was established in 2019. Stay tuned.