flight of the contra hehe..

Too many punters who enter-exit after 1-2 bids up.

Congratulations khatulistiwa1234, one of the most stout defenders for this stock. May your monies multiply endlessly.

In one of the articles after the succesful voting, Shahul said, if I remember correctly, their focus for the first year is to give back to the Reach investors. Supposedly early this year, the 1st phase development to increase production should have been completed. Whether or not that facility is utilised to the fullest capacity hopefully can be indicated in the coming QR. This 'first' impression is crucial so we'll wait and see.

Wow, thanks VenFx and everyone!

So presumably, added working production/working hours could contribute to more revenue isn't it? Also, http://www.nst.com.my/news/2016/12/195711/eg-industries-eyes-30pct-revenue-box-build-segment?m=1 we are now anxiously waiting the 2nd QR for the FY2017.

Thanks Woo John, a very strong point there.

Someone I know pointed me here, just wanna ask, are you sure there will be any movement at all before the par reduction followed by the consolidation?

http://www.thesundaily.my/news/2063225 what do you think of this? I just had a quick look at Mie Holdings 2015 Annual report and 2016 interim report (dated 30th June 2016), the daily production average is about 3.2k-3.3k barrels per day. In 2014 it was 5k+ per day. Maybe they are still being cautious.

The Non Opec don't have to cut as much as the Opec. Russia volunteered to cut the most since they are the biggest or maybe 2nd biggest Non Opec. Kazakhstan have to contribute but how much I haven't really looked into it.

O.O if manage to breakthrough that roadblock at 0.22...it might fly high...

Interesting, in the latest QR the Net Asset Value has been reduced to 41 cents.

I don't know but price seems to maintain between 0.635-0.65 like passing shares between operators only. Maybe they are still keeping the PP plan just in case. If QR is good, high chance it might gap up the next trading day but then again still only IF.

I think the biggest catalyst that will push mother's price up will be the latest QR...that is if it's 'beautiful'. At the moment I'm prone to say that it might be beautiful but who knows.

wow, this will be interesting to see today "The formula for the NAVPS is simply:

NAVPS = (assets - liabilities) / number of outstanding shares


Read more: Net Asset Value Per Share - NAVPS http://www.investopedia.com/terms/n/navpershare.asp#ixzz4YWINRXDA ". That offer really want to maximize whatever profits they have planned to get in the future.

Rahza, isn't that like a positive news? Because it's not like he's abandoning the company, he's sort of giving a role to this new investor.

Man, the number of shares changed hands at 0.2 is 26 million unit already. If anyone knows anything, do share hehe.

The volume traded really draws the attention, compared to floating shares. It's either something big is coming or simply fry fry.

http://www.thestar.com.my/business/business-news/2017/02/07/sterling-progress-shares-surge-7-sen-on-entry-of-new-shareholder/ following this closely.

Those who bought on ex date and after shouldn't have their shares affected on the 8th Feb. That's how I understand it.

I asked my remisier, he said the price consolidated already, the amount of shares however will only be updated on the 8th February. That's why only a certain amount is allowed to be sold. As for why the price is shooting up after the consolidated price of 0.12, I have no idea. Even got off market transaction of 10 million units at RM0.2 .

Some friends just told me, there were huge off market transactions at 0.2 today.

And the maturity date is 12th August 2022.

Oil sentiment is back to +ve. If you managed to get shares at low prices, go long. Contra players, you understand the risks involved.

Hello all, just had a peek since some of my friends raised their interest, the way I understand it is, EKA is like cutting loss on production/subsidiaries that is not worth to keep. So probably good news, but don't jump the gun yet. Better wait for anymore announcements.

@musangfoxking http://www.midf.com.my/images/pdf/research-Report/Equity-Beat/2016/Reach%20Energy-Reaching%20a%20tipping%20point-MIDF-080816.pdf

If anyone feels rajin, can go to MIE Holdings Corporation website, and download their interim/annual (2014, 2015, 2016) report. Will probably notice the decline in Emir Oil production volume concurrent with the oil prices downtrend. Can probably guesstimate the income that Reach is entitled to (booked since Oct 2015) too.

Have a great weekend!

Agreed, I'm comfortable with Midf's evaluation.

No need to further discuss Hibisc here. They are offshore etc etc. Petronas didn't buy etc etc.

hian949372 I'm not well versed with the warrant game, but I think there are a few guys here who are quite good at it. What I know is, even if the mother price is above 75 cents, there is a certain level when conversion is worth it. You already paid for the warrant, and now you have to pay 75 cents to convert them to mother shares, so you can probably see what price is the best to do so.

If you already got the shares/warrants, hold on to it. If you haven't join the ship, you are welcomed to do so. The Opec members seem to comply with the agreement with Saudi leading and cutting more output than the amount they agreed for their part.

edited to avoid misunderstanding.

Most of us here entered at low low prices...if retracements happens during a major uptrend..we dont worry as much as those who entered later. If you are fast at going in and out, good for you.

Thanks stockraider. I will have to re study then.

@acadi Personally, at the moment, I am keen to go with the one published by MIDF research team in Aug 2016 when 1 USD = RM4.01 and the dcf method used assumed the oil price will be between 50-91 USD for 2017-2036, which is RM0.98. Also as per the report, phase 1 should be completed by the end of 2016 which will increase production to 12000 bpd.

The reason I don't put a higher tp is because we haven't seen the latest report by Reach yet but with less shares on the market (and the chance of a dilution getting lower), strengthening USD and the prospect of it staying above 4.2 for the whole of 2017, 98 cents should be a very reasonable target in the near term.

edited*

Don't sell cheap...instituitional investors can pay so much for counters with declining growth why not this one with higher potential to bring home potentially increasing profit..

Read this "Reach Energy’s QA is slated for completion by the end of this month, but the contribution from the oil field is to be booked into its accounts from the agreement date of Oct 1, 2015. For the first six months of 2016, the oil field’s revenue stood at RMB659.42 million (RM417.7 million), 11.4% higher than RMB592.18 million in the same period last year." from this http://www.thesundaily.my/news/2063225

MTD was willing to buy out the yield seekers at 0.75-0.76 per unit. Their research team must have known something. Unless they have government funding then I don't know lah haha.

I don't think the parties involved would spread misinformation when all the information are available to us or can be made available. That's like shooting themselves in the foot. There's nothing wrong with that info even, if you've been following the oil prices all this while.

There you go! With less shares on the market, and the lower possibilities of a dilution! Hold on tight to your shares!

Congratulations tionghc2002! Well deserved! After a very tough and trying debates/times.

In another news https://www.investing.com/news/commodities-news/oil-prices-climb-as-saudi-arabia-starts-talks-on-supply-cuts-451306

Don't sell cheap! This company was born as an E&P OnG company when oil just started to rally. Very minimal damages from the era when oil prices were at the bottom of the barrel!

Haha speakup, I just hope. If they are inside already, good for them la. Haha.

Haha, you know what, I hope the price goes wayyyyy above 0.76 quickly so that Credit Suisse can tepuk dahi and the other institutions that want to join will not get the current price range anymore.

Don't sell cheap, let the institutions that wanna buy in later buy at a lot higher price!

Go long! Remember most TP suggested by banks are at least 80-89 cents!

Thanks for the info rikki!

Go longer makjemah! Mid of this year who knows what will the price be for both. 2017 just started and what a start it was.

Hehe, I think this is most probably the first buycall for Reach that I know of. Before this everyone was neutral. Not sure if they intend to sell though with presumably 6 cents gain only.

Wow...Reach is back to 70 cents and there's no real fear of buying the warrant now. Amazing start for 2017!

Accumulate and go long. 50% gain should be within reach*.

Personally I was expecting a very strong catalyst before any major price movement i.e. QR indicating potential growth, involvement of institutions like EPF etc . Not sure if this is a part of window dressing (got fund managers considering Reach? that's nice though) or preparation for PP. Technical chartists probably saw something good.

Correct me if I am wrong, but isn't that one of the main reasons that Reach chose this asset? It depreciated because of the sliding oil prices nearing to 30 USD earlier this year (2016) as compared to 100 USD ++ during the earlier years?