When no contracts where some rigs in idle, price support strong at 0.135c - 15c. When oil price trading at usd 60 share price steady at 0.135 - 15c. When covid case plunged up share price well support at 0.135 - 15c. Now got numerous contracts in hand, oil price trading at usd 100, new talented BOD just joined in but Velesto drop like no tomorrow....what the hell is this man.

Relax Santai dulu..

Former boss disposing his shares through his subsidiary company. Once cleared then Velesto will start to move up again.

Hopefully tomorrow onward the game will be interesting. Supposed should climb up despite go down.

Mana itu conpipi sdh con banyak orang skrg hide dlm kennel ka..kikiki

In 2019, Velesto received daily charter rate estimate in between usd70,000 to 85,000 daily. That's in 2019 whereby average brent price trading @ usd65/b. Today the DCR rate might change or maybe higher then 2019 since oil price trading at above 100usd/b. Fat fat

https://youtu.be/i1W7VGJUn6w

I think you didn't read the Velesto sustainability agenda. Here I post it to you in case you miss out

https://www.klsescreener.com/v2/news/view/948883/velesto-s-sustainability-agenda


newguy0801

Oil rigs also consume oil as fuel, where the high Brent price increase its production cost. If their contract only grant them a fixed revenue rather than oil & gas royalties, then Velesto can't exploit the current high Brent price too.

Thks jjchan. If velesto rigs fully booked then end of this year surely price break 0.20c. Soon big institutional player like epf will board in. Walaoeh!

Guys Armada wont go down below 0.40 or i can say maybe maximum it can touch the bottom is 0.38c (that one also if you're lucky), mark my words. World is very very desperate for oil now after Russia economy sanction. Operator pressing very hard to dispose those week holders. How I'm very sure, look at our local O&G counters especially Velesto. All Velesto rigs fully book by Petronas. As at now Petronas qtr earning double and Petronas allocated more capex for our local O&G counters. Armada much better then Velesto. If Velesto rigs fully booked, I don't see any reasons that Armada lack behind. Confirm more new contract coming soon for Armada. Just stay strong.

See velesto order book ( just for comparison). Tayor

https://www.bursamalaysia.com/market_information/announcements/company...

Petronas double up it profit this year and I believed for the up coming years. Good news for local O&G counters. More profit earning more capex allocated for our local rig operators. We can realised this past few weeks operator pressing so hard to dispose those week holders...just stay strong.

https://www.hmetro.com.my/bisnes/2022/03/819618/malaysia-untung

Time to collect

The worse is going to over for Armada.

Amid an exodus of Western European and U.S. companies from Russia, Chinese businesses are seeking to take their place, Bloomberg reported this week, citing unnamed sources in the know.

It was only a matter of time, really. Nature abhors a vacuum, and so does business. Chinese business, in addition to this, is quite pragmatic, unlike its Western counterparts and competitors. So, once BP, Shell, and pretty much everyone but French TotalEnergies left Russia in the wake of the Ukraine crisis, Chinese energy firms owned by the government started considering moving in.

According to Bloomberg sources, the government in Beijing is talking to four state-owned entities about the acquisition of stakes in Russian oil and metals companies. The entities include China National Petroleum Corp, or CNPC, China Petrochemical Corp, or Sinopec, the country?s largest refiner, as well as Aluminum Corp and China Minmetals Group.

Talks, the report said, were also ongoing between Chinese and Russian companies, although it was too early to say whether they would end with deals. The chances of deals, however, are pretty good. It is one of the clearest examples of mutual benefits: China needs raw materials to grow; Russia has the raw materials and needs money.

It?s a win-win situation, and it has one potentially crucial bonus: it would further strengthen non-dollar transactions between the two countries, undermining the global dominance of the greenback, and, over time, immunizing the two countries from future sanction action.

Russia is already accepting payments in yuan for its exports to China, and Russian companies are in a rush to open Chinese bank accounts, Axios reported earlier this week. Several Russian banks are also considering a switch to China?s card payment system UnionPay after Visa and Mastercard left. An acquisition of stakes by Chinese companies in oil and metals companies would only strengthen this process.

Analysts have been writing about China?s yuan internationalization efforts for years. It is not a secret but rather an important aspect of China?s pretty visible global expansion plans that have worried Western governments. And yet it seems that what these governments are doing is facilitating China?s expansion.

The wave of sanctions against Russia was meant to punish the Kremlin?and the Russian population along with it?for the invasion of Ukraine. One very big unintended consequence of that punishment, however, was pushing Russia and China further into each other?s arms.

This is hardly something that sits well in Brussels, London, or Washington as both Europe and the U.S. struggle with higher energy costs, driving inflation higher and higher at a time when billions are planned to be spent on the energy transition. And yet it was something that Brussels, London, and Washington pretty much did single-handedly.

China backstabbing USA..hahaha!

Ya alright kasi push sampai 0.10c...haha banyak org mahu sapu sampah

https://www.klsescreener.com/v2/news/view/961555/border-reopening-news-boosts-bursa

Operator try to squeeze hard before the borders operation start. Sabar sabar..

https://www.klsescreener.com/v2/news/view/961555/border-reopening-news-boosts-bursa

Last Armada touched the bottom 0.385 is on Apr 2021 then rebound back strongly all the way to 0.50.

7 consecutive qtr profitable company...apa ni, buat pening kiki

Only one reason is suit - WAR. Until Russia cease fire, expected market behaved like headless chicken.

Shouldn't be lukoil project. Must be another reason. Trend for this week shows most of o&g companies drop. Today as at now Yinsoon droped 0.20c, dialog (dropped 0.06c), petgas dropped 0.22c, carimin, velesto knm and deleum...almost all o&g counters hit badly. Why why why whyyyyuu?

Ohh no oh no oh no no no nooooo!

Bursa bukan skim cepat kaya..kikiki

Semua IDSS kencing dlm seluar skrg...haha!

https://m.economictimes.com/markets/expert-view/expect-a-big-rally-in-stocks-after-the-war-is-over-and-a-bigger-rally-in-commodities-in-next-few-years-jim-rogers/articleshow/89986394.cms

There's so many market sentiments block the price from going up. Russia Ukraine war, worried of nuclear deployment, rumour of WWIII (in between USA Russia) and our local running for election is over due already. But not forever..patience

You buy today and by end of week you want gain 100% profit...mana blh, you think bursa is very generous kah. Like that no body want to for work laa..kiki

All the weak holders washed out this week. Next week time to rebound back. Nothing is easy money in this world..

Don't worry laa bcoz of war investors pulling back. Russia war is not forever, once the bad time over then Armada rise back.

https://www.klsescreener.com/v2/news/view/958385/petronas-capex-to-increase-rm40bil-rm50bil-level-for-the-next-five-years-from-soaring-oil-prices-says-hlib-research

18c coming.

Ya kah.

Investors caution la..tense in between Russia Ukraine and now Russia & USA might trigger WW. Nothing got do warrant ler. Imagine and what happen if WW, all systems down.

Ya kah. Naik 18 kira ok la tu

Profit 5.4million. Better compared with knm

https://www.astroawani.com/berita-dunia/jangan-cabar-rusia-jika-tidak-mahu-perang-dunia-ketiga-tercetus-presiden-belarus-349076

https://www.sinarharian.com.my/article/190107/GLOBAL/Putin-arah-pasukan-nuklear-siap-siaga

Good luck..hope for good profit

Market red..fear of WW3.

Mana itu sardin
Mana itu borsig

Semua sdh lari kah..kikiki

Previously, Maybabk IB expect Velesto to end 2021 with a solid profit with high utilisation level of more than 70% for its current fleet size. They estimate three jack-ups (JUs), namely Naga 2, 4 and 8, will achieve a full three-month utilisation for 4Q21.

Let's see what is the reality when qtr report is out on monday.

Profit 118mill...consider ok la.

Seems qtr not good. Oil trading 103 usd but veryslow price plunged down. Apa lah nii

Wait until qtr release...

Wow! brent skyrocketing man..now 102

Oil 100 but veryslow not moving..apa nii

Boss dumping ler..careful

\KUALA LUMPUR (Feb 22): Velesto Energy Bhd said its unit Velesto Workover Sdn Bhd (VWO) has been awarded a contract by ExxonMobil Exploration and Production Malaysia Inc (EMEPMI) for the provision of one hydraulic workover unit and services to EMEPMI.

The contract is for a period of one year, commencing in the third quarter of 2022, until the completion of EMEPMI's selected wells programme.

“The value of this enabling contract with no guarantee of call-offs shall be based upon the agreed rates and work order, if any, issued by EMEPMI within the contract term,” said the oil rig operator in a bourse filing.

For the project, Velesto will deploy its VELESTO GAIT 6, a hydraulic workover unit with a maximum pulling and snubbing capacity of 460,000 lbs and 225,000 lbs, respectively, capable of rigging up on offshore platforms to perform wells workover, plugging and abandonment operations.

The group said the contract is expected to contribute to its earnings and net assets for the financial year ending Dec 31, 2022 (FY22) and FY23.

Velesto shares closed unchanged at 13 sen, with a market value of RM1.07 billion. Some 11.03 million shares were traded.