haaa apa pasal naik.. suka suka saja mau naik
apa berita

the quarter result showing positive indicator
Gross Profit = Show increasing gp margin over previous yr
net profit = showing negative mainly they once again decide to write off asset for 50mil.. with PBT is at (15mil) ; without the impairment/write off PBT will show positive figure
production service = The first production lifting of oil was completed on 24 January 2018. so still no revenue from oil in that qr result... next quarter result mar18 we will see the 1st time how income from oil production will reflect financial statement..

buy more at low price

do not sell now
sell when the market is active
buying low when everyone is nervous
buy low to average
sell when the market is active again and rsi above >90
when the market suddenly active because of news or whatever , we as retail player would not have the chance to buy.. the price will suddenly gap.. we also dont have the privilege of info symmetry
if u sell now of share bought high.. u will just caught in vicious cycle

have no worry if u have holding power because the fundamental still strong.. n good prospect of oil n gas industry ahead

Do not combine current liabilities with long term loan.. it is more meaningful if u gave current asset ratio to show ability of the co to generate income

Depreciation / impairment does not reflect / affect operation, it is a non cash item.. unless the asset is really obsolete which the vessel is not

Scomies does not have high gearing as what sgb or scomien

Have no worry about that

I have not closely review the quarter result lately
But if not mistaken the cash flow from operating was positive

Marine services in indonesia was good
Osv vessel in malaysia might not generate much revenue
But as long as the loan can be serviced/ manageable total debt, then it would be no problem

The impairment = about the fair value of the vessel, auditor has suggest to impair because rule of frs
Realized value vs projected income from the vessel; which i disagree.. as cost to build new vessel still the same

What im saying regarding ophir is crude price = revenue
Whatever cost sharing will also be translated in p&l


Safe to say
Revenue - cost per barrel = profit ber barrel
Production cost already included as cost per barrel

What may not yet accounted for regarding oil wells is admin cost

Most of the losses from one off transaction. I.e write off / impairment of asset

For qr dec17.. not sure
For coming quarter.. income from ophir high probability will give positive a +ve p&l

google australia stock exchange announcement dated 31 jan 18

Should be reflected in coming quarter result of dec17

Scomies complete 1st lifting of oil in quarter dec 17

Fspo has capacity of 350k barrel
At cride price of 60
That translate 21mil usd sale
Scomies 30% = 6.3 mil usd for scomies
Equal RM25mil

let those who want to sell at 0.135 sell, those soft heart are nuisance to progress coming
if i can hold this for near a year.. then why not for another 5 months

how i wish i got more fund to top up

want direct impact on oil n gas just go to scomies lah

RSI 56
how much low will be consider safe? just accumulate more lahhh.. dont sell

https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=20951642

maybe because of electrical trip in the ophir oil wells

because everyone is selling

Brent climb to $70
The prospect ahead is positive
Why are u selling?
Hold

because RSI showing a high figure, maybe people reluctant to go in and .155 is an established support

it will be more expensive in the coming definitely
revenue from ophir will ensure a positive p&l..

Accumulate scomies while still cheap

dont worry
momentum still strong

Scomies.. direct benefit to oil price..
1. Wait for news of lifting 1st oil from floating storage
2. Coming quarter onward the revenue from oil will be reflected in the p&l
3. Fair price of scomies is .29

Hold for 6 months.. or in & out based on technical analysis
If u are TA expert

all O&G has rallied from past week.. now with ophir in near future that will lift first oil soon.. will able to follow

Seem good news for scomies

But not sure how market going to react tommorrow for scomies..
Sgb and scomieng share sure down

Minority shareholders vote out the merger resolution

For the coming weeks before egm
They will press down the share price of scomies
While push up the share price of sgb
This will make it attractive for scomies shareholder to agree with the merger
They are wicked capitalist
Brace yrself
When the time come.. we will vote againts the merger

http://m.utusan.com.my/berita/wilayah/kl-putrajaya/khidmat-monorail-trem-bakal-diwujudkan-di-putrajaya-1.571002

We could see the latest trend of business excercise is going for pure play and de merge instead of combining all business activities in one single entity.
We see omw energy emerge as single entity, we see sime darby has evolved into three entities instead of one single umbrella.. why sgb want to lump all business into one..?
Unless their objective was not for the best interest of minority shareholder.. but to serve their capitalist dream

Bdo is paid to persuade for the benefit of sgb.. not for the benefit of minority shareholder
If we keep track the price of sgb n scomies we will see that scomies price consistently below sgb.. this is because the term offered is better for sgb.. that was already reflected in the market.. those investor has vote and they understand..
What bdo is doing is only trying to say a black thing as white

Pls everyone, attend the egm, n together we will vote againts the merger

120 more days to finalize the merge.. rejected or approved

All these merger things holding scomies share up

Ophir

Performance test of the wells and facilities at offshore Malaysian oilfield under way

Josh Lewis

23 Oct 2017 00:06 GMT Updated 23 Oct 2017 01:00 GMT

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Production is starting up at the Ophir oilfield development off the coast of Malaysia.

Field co-owner Octanex revealed Monday the field facilities had been tested and commissioned, with start-up routines now initiated.

It added hydrocarbons had been introduced into the system and are being received, processed and stored on the floating production, storage and offloading vessel.

Performance tests of the wells and facilities are being carried out and the countdown is now on for first oil which Octanex said was contractually defined as 20 days of production from a consecutive 25 days, following completion of testing.

It comes after it was reported last week the MTC Ledang FPSO had been successfully moored at the Ophir field.

The field lies in a water depth of roughly 70 metres and is being developed via three production wells, a wellhead platform and a the FPSO.

Ophir is being developed under a risk services contract by Octanex (50%), Scomi Energy (30%) and Vestigo Petroleum (20%).

http://www.offshore-technology.com/projects/ophir-oil-field-development

http://www.4-traders.com/OCTANEX-LTD-10357005/news/OCTANEX-WEEKLY-DRILLING-PROGRESS-REPORT-OPHIR-DRILLING-CAMPAIGN-24581445/

correction
if the merger failed.. SCOMIES share will definitely surpass SGB

at merger SCOMIES share will lost 33% compare to SGB share of 15%
thus SGB share will have 33-15=18% premium over SCOMIES share price
then SCOMIES share will track SGB share at discount around 18% of SGB

SCOMIES = SGB / 1.18

Unless the merger failed.. SCOMIES share will definitely surpass SGB

which share u want to bet?

any opinion on the calculation?

it is all about perception.. the merger give perception it is good for SGB
Scomies will just track along
when the counter hit top 10 active stock
it will attract more speculators..
hope goreng will continue
waiting for ophir news to goreng further

hope the rally will continue for 3 more days

please hold.. in relation to consol n merger
scomies share will track sgb share
but will not surpass sgb share price due to term of consol n merger

Hope u all do not take yr right to vote lightly.. when bod called for egm, please come to egm and votes
Because , even how many small is yr shareholding, yr attendance will be counted in sum of member attended to determine majority of members, attend and votes regardless quantity of yr sharrholding

the warrant has intrinsic value of RM0.113 .. refer proposal
that is why i m using 0.115 as basis price.. as assumption if i using 0.113 the loses will be a lot more
pls do yr own calculation
and the price post consol and merger will not be 0.23 but 0.115
if only consol then it is correct the price will be 0.23, but there will adjustment in the quantum


so price will be diluted to 0.115.. of course if the price can climb to .23 u can consider the warrant as profit

If consol n merger go through .. the new adjusted price will be around 0.115

If only consol success and merger fail then the new adjusted price will be 0.23

This is a put warrant
U will only able to exercise it at price of 0.21

SGB # newshare = 958mil , value $210mil
SCOMIENG # newshare = 488mil x implied value $0.3
SCOMIES # newshare = 1,405mil x implied value $0.126

Total value implied :$323mil /total #newshare 2,852mil

= adjusted value per share after consol n merger = $0.115

If exercised warrants there will be further dilution

if the merger not implemented, of course u will get the price of 0.23.. but the quantity of warrant u going to get will be adjusted (lesser i think)

In the event that the Proposed Mergers are not implemented, the basis for the Proposed Bonus Issue of Warrants will be adjusted such that the potential aggregate number of new Consolidated Shares arising from the exercise of all outstanding Warrants will not exceed 50% of the total number of issued shares of the Company (excluding treasury shares and before the exercise of the said Warrants) at all times.