Attractive level to buy now (at 25 sen) ?

Weak qtr results and the impairment losses as expected and similar with other O&S companies. No wonder the prices dropping last few days. Maybe next Monday can buy cheaper. However, revenues (though lower than last quarter) were quite respectable and this could indicate that the company's activities have more or less normalised with more contracts secured recently (at least the company is on the recovery road).

simple091, too bad whole market sentiment is weak. Actually this provides an opportunity to accumulate more at lower prices. I am queing at buyer price and waiting for sellers to throw.

IMO the market will rebound in a matter of time when uncertainties are over unless it is going to escalate into a world recession, in which case everyone including the fund managers will also kena burnt. Actually, I am more keen on accumulating the warrants at lower prices but stubborn holders not willing to let go.

Then can accumulate more.....

Managed to collect some at 11 sen. Just hold.

Don't think it will go down to 0.06 unless the latest qtr result is not good. 11 sen looks more likely.

4 sen coming... Dow dropped 1100 point last night and oil price dropped further.

Oil prices dropped badly last night. Get ready your bullet to collect cheap sales this morning. 11 sen possible?

https://www.thestar.com.my/business/business-news/2020/01/20/borneo-oil-the-main-supplier-to-lahad-datu-limestone-plant

An extract from the Notes to the Account (Note No. B1) below:

The Group‟s profit before tax of RM0.53 million for the current quarter was higher by RM1.82
million as compared to a loss before tax of RM1.29 million for the corresponding quarter. This
was mainly due to the turnaround from the Oil, gas, energy and mining related businesses
segment derived from the limestone activities.

The latest qtrly result (OCT-DEC2019) has been released today. It is indeed a relief to see the company achieved higher revenue and higher net profit (albeit not substantial) compared with the last quarter (I was worried they were going to incur another quarter of loss). At least they have now shown 4 consecutive quarters of profits indicating a firm turnaround. One of the main contributing factor is their new limestone plant/factory which is reported to have started generating revenue. Expect share prices to perform better from now on.

Oop...rather worrisome. Bought some at 0.125 this morning. Now better que lower.

3.5mil in the sell que. Qtrly results still not out. Hope no surprise. Other O&G counters latest results not great. Bumi Armada results just now is a big shock with 500 mil losses!

Does not look good. Better wait for the release of latest qtr result before buying in. Need to see their latest performance. Who knows the results may not be good. Even Velesto also dropped just because the results that came out last night show lower revenue and lower profit. Others like Sapura Energy and Perdana not showing impressive performance too. Can Alam be different?

Oil prices dropped further and looks like the Covid19 is getting worse/spreading globally (Italy, Iran, Korea for example). Also with so many people throwing their shares in this counter, I suspect the latest quarter performance may not be good (like those of other O&S companies).

I think the present management is not competent enough or not doing much to improve the performance of this company. It is about time to let the people from C K Lau / Hap Seng to come in and manage. I have full confidence in C K Lau.

The proposed share capital reduction is merely an accounting entry to remove the accumulated losses (previous years losses) from the Balance sheet thus cleaning up the Balance sheet and makes it looks better and cleaner. It will have no impact on the share price or NTA. The quarterly results show lower revenues and lower net profit. Not a sterling set of performance but at least another consecutive quarter of net profit which goes to show that the company is firmly turning around from its previous losses (that resulted in the restructuring exercise previously). Furthermore I expect its future prospects to be improving.

I think I will sell down my holding and switch to other counters that provide better performance/return.

Terrible performance. Down to its lowest level. Last minute sellers just threw 2 million shares at 3.5 sen (new low or lowest so far). No share buy anymore by company or management must be sleeping over their job.

Surprise still got people chasing the warrants. Last minutes some sellers throw down aggressively at 12.5 sen !

Dow dropped 1,000 points and oil price crushing down. Sell sell sell and take profits when there is still money on the table before it goes down further. Come back later when things are more settled.

Just wait and see how long the price can hold...

Time for cheap sale - double whammy hitting Alam. Crushing oil prices and political uncertainties.

All O & G counters red today.

If not out today, then results may not be too good. Usually good results they would announce early and bad results they will wait till the last day !

Maybe qtr results not good?

Looks like we have to wait for quite some time for the saving grace to happen i.e. the completion of the limestone plant and the commencement of the new business (2Q20?). Meanwhile hope to see some improvement in the latest qtr result - to be released latest by 28FEB20.

Makes sense. Sell some to invest in other counters that have growth potentials. This elephant is too heavy to move an inch!

Latest qtr results expected to be out soon - before end of this month. Hope it is improving.

Definitely good especially the new limestone plant. It will be the first and only limestone plant in Sabah, if I am not wrong, and limestone is partly for production of cement. The construction of the Pan Borneo Highway will be a catalyst for cement production.

Proposal for private placement & ESOS submitted to Bursa today. See below:

MULTIPLE PROPOSALS

I. PROPOSED PRIVATE PLACEMENT OF UP TO 10% OF THE TOTAL NUMBER OF ISSUED SHARES OF BORNOIL;

II. PROPOSED TERMINATION OF EXISTING EMPLOYEES' SHARE OPTION SCHEME ("ESOS") OF THE COMPANY; AND

III. PROPOSED ESTABLISHMENT OF NEW ESOS

(COLLECTIVELY, THE "PROPOSALS")

On behalf of the Board, UOB Kay Hian wishes to announce that the listing application in relation to the Proposals has been submitted to Bursa Malaysia Securities Berhad on 14 February 2020.

Lets us be more positive and hope it will recover and goes up once their private placement exercise is completed and the new limestone plant in Lahad Datu, Sabah starts commissioning (which they announced will be soon and part of the private placement proceeds is for the plant).

EPF kept accumulating

I think it is quite obvious. People just doubt if those figures are genuine.

O&S may have to take a back seat for a while.

Seems cannot fly ....wings clipped by syndicate...