. Initial production for the first work-over well commenced in January 2014, and the production capacity of the well is estimated to be 150 barrels of oil per day.

Sumatec will supply around 120 million standard cubic feet per day of gas to a potential gas buyer by 2017."

Initial works such as improvements to the road access, pad locations around each wellhead, well clean up works, and formation evaluation (wireline logging) activities started in February 2014. Rig operations at the field started in April 2014.

Up to 12 wells are expected to be ready for production by August 2014 and three sidetrack wells will also be drilled by end of the year. A target production capacity of 2,000 barrels per day (bbls/d) is expected by 2014 and peak production of 9,000bbls/d is expected within four years. Around 17 billion cubic feet per year of gas production is expected within three years.

Sumatec will supply around 120 million standard cubic feet per day (mmscfd) of gas to a potential gas buyer by 2017, whereas the excess gas produced from the field will be re-injected into the reservoir for pressure maintenance and reservoir drive.

http://www.hydrocarbons-technology.com/projects/rakushechnoye-shelly-oil-and-gas-field/

halim only top up when sumatec 50 cents la.... sikalang halim want to selll.
you do not know him meh ? when 50 cents . news halim want privatetise sumatec will surface.....kikiki..


TheMiddle hs wanna top up liao
11/12/2016 11:52

non opec cut 562k barrels. this bring total of 1.76 m cut...lia skl lagi ciakap oil price up is short term ka....

http://www.cnbc.com/2016/12/10/reuters-america-update-3-opec-non-opec-agree-first-global-oil-pact-since-2001.html

http://www.cnbc.com/2016/12/10/opec-secretary-general-sets-deal-with-non-opec-countries-to-cut-output.html

opec cut deal ler wor....nia ma still want come out bad news meh....people waiting to buy leh...kikiki

dream kita mau suma ngang la....aiyoyo something wrong with this share...really want to push down to 1 cent.... merge 10 to 1.ah...any benefit for halim to do this ? ah boy . nomaland can think think ?

brent go sky rocket next week ....tapi sumatec ala mali ga ?

non opec n opec sure got deal minimum cut 600 k barrels...1.2 m barrels lagibbagus

mau itu ah lick pinya goat weed balu bole leih lu...

lu ciakap ah......lu sendiri pinya pun tak bole ngang leih....

aiyo so good deal...apasal suma share price 5 cents pinya.....aiyoyoyo lupa lupa olang tak percaya lia itu good deal kot....

apasal ini maciam katak besar jumping on the roads one...

the purchase consideration represents about US$1.74 (RM6.95) per barrel of oil equivalent.

DNS The net production now reached how many barrles ? tala report on this pun....

The parties to the heads of agreement signed on Friday agreed in principle that the purchase consideration for the proposed acquisition would be US$205mil and that Sumatec would reimburse the US$45mil in gas development expenses incurred or to be incurred to fast-track the monetisation of the Shelly field’s gas reserves

3.

Based on the 2P oil and gas reserves as certified by SRK Consulting (Australia) Pty Ltd in May 2014 and adjusting for the oil reserves effectively owned by Sumatec under the profit sharing, the purchase consideration represents about US$1.74 (RM6.95) per barrel of oil equivalent.

2
Also in December 2013, Sumatec signed a gas development and production agreement with MELL to develop and deliver to MELL the gas development, implementation and production plan that will meet the minimum supply of 120 million std cu ft of gas per day from the Rakushechnoye field, also known as Shelly field.

Sumatec would charge MELL a fee of US$45mil (RM179.4mil) over three years from 2014 to 2016 for works carried out under the gas development and gas implementation plan stage plus an operator fee of 75 US cents per thousand std cu ft supplied at well heads.

1
Under the joint investment agreement signed by Sumatec, MELL and COG in March 2012, Sumatec would get 100% of the profit in the first two years while from the third year onwards, the profit would be divided 50:50 between Sumatec and COG. The net production was expected to reach a threshold of 2 million barrels within the first two years, with Sumatec’s appointment as the designated operator becoming effective in December 2013.

http://www.thestar.com.my/business/business-news/2016/07/02/sumatec-to-pay-rm818mil-for-full-ownership-of-kazakh-oil-concession/

wa abit confuse ....sumatec now operate on two oil fields ?


She however said that the group will operate at least 25 producing wells by year-end, with five and 20 wells for Rakushechnoye and Buzachi Neft respectively.

siapa ciakap bohong ini ....that MD said cost at 17 18 usd...

after 2 millions barrels , profit sharing 50 : 50 only , can that be the reason why it pump less oil amidst current low oil price environment...

also Ex CEO ciakap oil price at 50...sumatec can make 10 USD nia.....aiyoyoyo

Dalton noted that the new asset will offset the loss in profit it expects for its Rakushechnoye oil field in Kazakhstan, once a 50:50 profit sharing with its joint venture partners kick in.

According their agreement the the partners this will happen when accumulated production hits 2 million barrels, by 2017. Sumatec acquired the oilfield in November 2013.

"It's critical for Sumatec make its first own acquisition to supplement revenue going forward," he said.

Sumatec CFO Roshidah Abdullah said the accumulated production level for Rakushechnoye has been kept minimal for the time being, considering the current oil price level.

She however said that the group will operate at least 25 producing wells by year-end, with five and 20 wells for Rakushechnoye and Buzachi Neft respectively.

Based on the current oil prices of US$50 to US$55 per barrel, Dalton said the Sumatec could still make a gain of US$10 to US$15 per barrel from the new acquisition after deducting the capital and operating expenditure costs as well as petroleum taxes.

"The taxes in Kazakhstan are scalable, when the oil prices drop, the petroleum taxes also drop, it's still profitable below US$40 per barrel," he stressed

http://www.thesundaily.my/news/1379210

dulu ciakap mau over billions revenue leih....sikalang revenue berapa annually ? 200m ala ?

nanti lia panai panai hedge oil at 53 so that he can korek lubang sure win....itu maciam pinya mindset

oil at 60 ..sumatec will move or not nia ma the most pk big boy in bursa la

..nanti the management told you they hedged oil at 53 nia when oil shot up to 80 that time ...kakakak

I worry this leih ...dun ever underestimate how stupid this MD are..

https://sputniknews.com/business/201612081048321983-azerbaijan-oil-output/

Russia + azerbajian = 600 k barrels cut ? if deal come monday brent can rally above 55 kot...

itu Holland pinya flight lor......wakaka

tant sri sold to Ali and Ahmad 77 m share now . Later sumatec 0.50 cents .
Ali and Ahmad sell 77 m shares . Do this transaction need to be disclosed to bursa and public ? no right , got it ?



TheMiddle Leo: what do u mean by put under proxy but not dispose?
08/12/2016 08:10

77 million put under proxy...later can sell 0.5 and no need make announcement.

management n major share holder disposed shares. sumatec owe us an announcement to clarify all the company situation. mau close shop ke atau biz as usual ?

yakah ?

ah boy agree with you . if really want to run. someone might push sumatec to 0.14 n start to sell his share back n forth from 0.1 to 0.14.

this happen on pdz last few months ago. out of sudden . push up from 0.7 to 0.14. n slowly distribute till drop back to 0.7 0.6 now.

if they want to run . opec deal news. dec 1. already can push to 0.1 n sell their share...

3.42 percent

force sell one need to be down on open market. not on off market deal

total share disposed 132.5 m... equal to how many percent ?

tan sri total disposed 77.5 m + 19 m

md disposed 36m

how many percent of total sumatec share being changed hand if more than 5 percent ,its consider as major shareholder. announcement is expected.

may be got new investor to come in to take up the right issue.
since tan sri no money to subscribe ri..

tan sri disposed 19m shares at 5 cents off market deal

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5282201

how you know this ? you from bank ?

GoodBoy A lot of private funds are ready to deploy capital into oil n gas sector .... USD 1 trillion ... cheers ...

insider buy n sell news are used to cheat deceive you all. someone asked cfo sold at 0.3 ...so that retailers will follow to sell.. then they can push to 0.62 last time. now md sold share at 5 cents....this time same tactics ? or really no hope ? kikiki

md dispose all his share

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5282021

how you know inside got curly hair....ball one can ah ?

AyamTua better be inside panty with curly hair then being outside panty without curly hair???
kikikikiki