then possible upgrades

my analysis for the profit is between RM 45-55m before any reorganisation costs & impairments.

From 28 to 48 with all the bad stories run-down by many sour grape forumers. Now 33, wait till u see 51 but in between more run downs to happen by those sour grapes again

Are you very sure that all those assets are idle. My contacts say some are out on short term charter

The impairment will now change from those assets to the oil rig assets. Have to adjust the bad news

Haha......another negative story will come out.

basically very few understand the UMWOG shareholders & their disposals

PNB originally had about 4B Ordinary shares & 1.2B Preference shares.
They transferred all to Amanah Raya Trustees & Yayasan P Bumiputra & some others yet to surface those are selling. They never bought open market

Now PNB converted the Preference shares to ordinary shares, so they never bought open market.
They still have 1B warrants.

The MILLION DOLLAR QUESTION is who bought & traded every day with huge volume. These are hidden buyers who hold less than 5% so they no need to disclose.

Don't forget PNB holds at least 1b warrants

Blue..........very few do that & most just buy online with no understanding abt stocks. All want fast money and show off. Eventually their capital is tied up & they lose 50% of it. Most youngsters trade with remisier who just whatsapp news & the chat groups made up of most who syoik sendiri. Even those young remisiers have not much experience & knowledge . They keep looking for new clients as their current ones are stuck or fade away.

Anything u want to know abt yr shares , u must ask yr remisier. He will find the answer for u. In the forums, most people simple tembak, it's yr money . U got to put in more effort. Easy to lose, easy to get stuck and get conned

another 1b pref sh converted
all finish

Umwog will save on interest payments of the preference shares. So it's good that they convert all asap. Why buy this share & have so much stress. If u must buy, no need to shout when it goes down. Just shout when it goes up. Best is don't buy at all. Buy unit trust or better still play US mkts.......everyday go up

Actually PNB sold abt 350m shares

If PNB need money they can sell sell all the free warrants instead of mother share & they will still not lose control, yet they still don't do that. Odd isn't it

Just calculate.... sell 300m make 10 sen = 30m Gain
Share price lose 10 sen 2= 3b x 10 sen = 300m loss
Makes "good business sense"
Just like our politicians "brain is in their arse"

High.....far high la

Majoriy shareholders who r owners or family controlled companies generally don't sell warrants to avoid control passing over. PNB do not fall into that category .

in the corporate exercise, PNB did 2 things
1. Took rights issue on shares & paid 0.30 sen per share.
2. Took preference shares & paid 0.30 sen but they get interest on preference shares. If they don't convert then on expiry it's auto convert but can convert anytime. If convert early they lose interest but they gain if share price above 0.30

Total raised RM1.8b, that's why borrowings reduced by 50%. But lots of shitheads still say their borrowings still very high. All armchair shitheads

So no intelligent answer why PNB not selling warrants?

There must be some game by PNB to dispose so far 250-300m shares so far. Possible senarios
1. The relatives game........sell cheap so PNB funds make some money & relatives make some obviously bigger to line their pockets ahead of elections........just in case they lose.
2. Take money out & convert the loan stocks to shares thereby Umwog pays less interest. Helps Umwog cash flow plus profitability.
3. Stupid people running the funds. Sell low when future looks brighter
4. Sell some to convert the warrants to mother share thereby strengthens its future. Notice that no warrants have been disposed so far. It's puzzling

If u trade in millions, do u want to waste your time in forums to mix with Ikan bilis, idiots & negative people. No high net worth individuals got time for that especially during mkt hrs. Those who say they they trade big & made hundreds of thousands are bull shitters. Maybe only 1 who got nothing better to do or act of loniness . Others are nutcases.

When up they say they bought millions, when down they say they sold millions at high price, all kok story

There r many here who don't have this share but like to make negative comments. When share price down the shout like hell, like they lion king, but when up they become Tikus in hiding.
Like this also song song. TNS to them

But pretend to be angel in disguise

Haha crooks are everywhere esp those who say don't buy at 0.30 cos everything is bad abt this company, but it ran to 0.48. Now still talking shit

TA, Am, AF, Cimb or apanama ..........they all can tell stories with their own vested interest or agenda to benefit their insiders. What's relevant here is business, contracts, crude oil price, economic environment etc. if Umwog can secure profitable business that's the most relevant issue. Not the crap said by those young chiku analysts who have no business know how. Another important issue is strong shareholders who can support it during lean times or give an edge on contracts. Yes they have every right to dispose some shares but as someone rightly wrote......they lose more as their holdings value dropped substantially due to their actions. No no winner here

I don't think it will reach 0.30 b4 it rebounds otherwise that jerk Aminvest idiot will be proven right.
Perhaps 0.33 or perhaps today's low might be the support.

So who buy 356m today?

at 30 sen , all say dead stock & sell.
now what's the story?

Engine starting for CNY early bird

Hi ALB,
I'm an investor at this level. My exit strategy will be premised on the following,
1. The next qtr result should show RM40-50m profit b4 impairments (if any)
2. Brent crude stays above USD60
3. Share price does not fall below 27sen

Every investor have their own strategy. O&G stocks are in the very high risk category.
So a stop loss strategy must be in place

or wait for his good deed

he is entitled to his opinion
only time will tell..........wait for next set of results & see the mkt price then

ok....so no positives

Can u please e-mail the mgt to sell umwog to the highest bidder
Perhaps u can do all the minority shareholders a good deed & help them to get a better price than the current market price instead of running down the company here in this forum.
I will than buy some
Thank you

You have painted all the negatives................here are some positives

1. Brent is projected to remain in the USD 50-60 price range......Petronas crude trades at a premium of USD 5 above Brent

2. Petronas requires 10-12 rigs.............UMWOG has 7 so possible full utilization

3. Mgt says above USD 50 price..........they can make money

4. UMWOG is still on cost cutting phase...........savings here can offset maintenance of rigs

5. Borrowrings have halved...........interest savings RM 15m per qtr

6. Long term loans have been refinanced...........possible some interest savings

7. Cash tied to borrowings have been freed up.

8. Charter rates at USD 70-80k better then before

9. Rigs at full utilization currently..........some new contracts sourced.....possible minimum impairments (not a cashflow item)

10 Mgt says they will be cashflow positive after rights issue

11 No need to buy new rigs

12 Mkt price is around 30 sen........low downside risk

13. PNB is the largest shareholder..............Petronas may give full support

Its not a buy or sell call...................so based on my analysis next Qrr result may show a profit of RM50m before impairments (if any)

And why is the share price on the uptrend?
Is it because there are too many fools there & that only the wise ones are here in this forum?

most of his rigs are fairly new.....so u understand that impairment is one off cost & will not affect competition. Maintenance is part of doing business that why they have to source higher charter rates or plan for future diversification. They have a monopoly locally

I'm not promoting this share as i have no vested interest.......The Company's results are showing a turnaround & crude oil prices seems to be stable & uptrend.

Can u project the the next quarterly results minus any impairment given the current available public info?

PNB investment here is fairly huge & do take that into consideration.

so it makes u happy & u can make money
wow.................have a life

what i do with my investments is my business but i won't make rubbish comments like u

eg of one..........." They can't compete in a long term by relying on these rigs that are all bought at prices higher than a brand new one today."

Actually why many here keep telling negative news here. It's a waste of time. If u don't have, just go away. Don't make as though u r an expert on this company. Does writing here helps to make u money? Does it help u in any way? By writing rubbish, does it make u happy?

Some people write as though they can make decisions for Umwog. It's really foolish. Don't invest if u don't like the company, go to the forums where u have vested interest, not where u don't.

Grow up.

But the BOSS says it's at a turning point. So if u read between the lines, it mean profit

Next qtr results may show RM 2m to RM 5m profit or very small loss. Place yr bets

INVESTORS who bought Carimin Petroleum Bhd’s shares earlier this year are now laughing all the way to the bank.

Since mid-September, its share price surged as high as 90% to 55 sen on Sept 27 from 29 sen on Sept 13, boosted by the recent gains in oil prices.

Prior to this increase, the company’s share price looked as though it wasn’t going to break the 30-40 sen range, peaking at 38 sen in January.

The company went public in 2014 when oil prices were at an all-time low. Although its share price is far from the RM1.10 it closed at on its first day of trading, investors who took advantage of the cheap entry point have since made a tidy profit.


Mokhtar says Carimin is at a turning point

Carimin is on the cusp of a turnaround, says managing director Mokhtar Hashim. “I believe we are at a turning point,” he tells FocusM.
On Oct 2, the company announced winning a five-year contract to provide maintenance, construction and modification (MCM) services under Package C (offshore) from Petronas Carigali for an undisclosed sum.

The contract, which expires on Sept 19, 2022, comes with a years’ extension.

Several other oil and gas (O&G) players were similarly awarded Petronas’ MCM contracts in recent weeks.

Carimin, which specialises in hook-up and commissioning (HUC), and manpower supply, decided to diversify into civil construction to continue earnings during lean times.

The decision paid off as the segment brought in a revenue of RM9.02 mil in Q4 ended June 30, which is 32% of its total revenue of RM28.36 mil.

Of this, HUC jobs drew the bulk of revenue at RM15.23 mil (53.7%), while manpower services revenue stood at RM4.1 mil – a 61% drop from RM10.55 mil in the previous corresponding quarter.

The increase of 21.8% in the HUC segment (from RM12.5 mil previously) indicates a return to form in the O&G industry.

“HUC achieved a revenue increase of RM8.73 mil over the immediately preceding quarter as several contracts moved towards final documentation.

“The utilisation of vessels and third-party charter also increased,” the company says.

good news for Hibiscus so watch out Carimin

The market is not factoring the contract value quoting industry sources said that each contract was expected to be worth about RM1bil.

If this is correct then the share price will shoot up dramatically

news on 2 Oct 2017

: Carimin Petroleum Bhd
image: https://cdn.thestar.com.my/Themes/img/chart.png

has secured a contract for the provision of maintenance, construction and modification (MCM) services from Petronas Carigali Sdn Bhd.

The contract will be effective for a primary period of five years from Sept 20, 2017, to Sept 19, 2022, following which there will be an option for a one-year extension.

"The details of the scope of works in relation to the Contract will be addressed in a work order which will be issued by Petronas Carigali and shall include any or all other work and services which is generally related to Topside Structural Maintenance, Workover Preparation and Facilities Improvement Project," said Carimin in its announcement.

A report quoting industry sources said that each contract was expected to be worth about RM1bil. Petronas Carigali’s MCM contracts are said to have a combined value of RM6bil.

Carimin clinched the “Peninsular Malaysia Oil” portion while Dayang secured the “Sarawak Oil” portion.

It has contracts for both so the next few qtr results may be better

Carimin has 2 core business now
1. Oil & Gas
2. Construction

today heavy T4 for Hibiscus & Carimin
Perhaps later today or tomorrow will move up

perhaps he is not a big risk taker, he is slowly growing the company
look at the annual report....40-50 million shares are held by Investment Funds
his break may come if there is a takeover otherwise slow & steady.
yes i agree the ceo must secure bigger contracts & rub shoulders with the big glove makers

vultures & insiders too
If i'm not mistaken TG says announcements by end of the month & mentioned listed companies too in the glove business. So not long wait, just monitor price action by insiders

Its ripe for a takeover