Reach Energy Berhad (REB or the Company) - Issuance of Unqualified Audit Opinion with Emphasis of Matter on material uncertainty relation to going concern in respect of REBs audited financial statements for the financial year ended 31 December 2021
Pursuant to paragraph 9.19(37) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, kindly note that the Company's external auditors, PricewaterhouseCoopers PLT, have issued an unqualified audit opinion with emphasis of matter on material uncertainty relating to going concern, in view of the challenges arising from operational issues which have affected the Group’s ability to meet production targets and the volatility of crude oil price as a result of the uncertainties surrounding the industry caused by, among others, the COVID-19 pandemic and the Ukraine-Russia conflict, in respect of REB’s audited financial statements for the financial year ended 31 December 2021.

Hahahha... Just for fun, if the avg production BOE is 2,248, back of the envelop calc, the revenue this Q1 2022 will be around approximately RM63 to 65 million, (or more??)

agreed... will be happier if it goes further north

green quarter I hope

good erection eh @TheContrarion? :)

@DonLee got insider info meh?

@melkng888 the more you comment the lower the price goes down haiyaaa ;)

see @melkeng888 the more you said, the lower the price go down!! hahhahaa haiyaa

don't bluff poor uncles and aunties lah @melkeng888

have heard the same old statement again and again since forever...

haiyaa

weird lah who always throw at 6.5 sen

turnaround is working I reckon!??

EBITDA positive RM67mil oledy lah... better performance for 2021... 2022 should be better!!!

@DonLee if that is true, limit up oledy lah boss... every tom dick and harry uncles and aunties would have jumped on the bandwagon by now..
new shareholder have to declare to Bursa their stake when it breaches 5% yes?

what you got insider info @melkeng888?

yup agreed @melkeng888... thats why I said smart move by mie...

dispose 40% to Tsang (friendly party??)
then later buy from open market at 10 sen for circa 11-12% stake
gain 52% control right?
check mate!! wow like a game of chess

yup agreed @melkeng888... thats why I said smart move by mie...

dispose 40% to Tsang (friendly party??)
then later buy from open market at 10 sen for circa 11-12% stake
gain 52% control right?
check mate!! wow like a game of chess

hahahahah... smart move mie.. coming in by selling the remaining 40%.. smart!!!

new shareholder coming in?

M&A on the pipeline/horizon you guys reckon?

just wondering, if Emir Oil is that bad, Tsang will not be buying? He is an astute investor right? buying low selling high yes? whaddaya think?

just thinking out loud, if MIE wants to buy back the 60%, the moment they breach 5% significant holding, have to declare to Bursa right? Then all hell should break loose.. coz uncles and aunties would smell M&A oledy... then price shoot north (hypothetically lah)

i saw chairman statement in 2020 annual report said they want to refinance the borrowings... with brent up north should be easier to refinance no?

hahaha no show....

better eat mee goreng like I said... and watch the (non)show... lol

weird la if they didn't do due diligence before buying... oil is gold these days.. just need to show profits I reckon

plus Reach got local people as board members! Come on Reach!!!

haiyaaaa.. why cheapskate on employees... price is north of USD$90 oledy... time to make money!!$$$$$

volume is going north these couple of days... even with mtd selling their stake!!

audited by pwc dont play play one @DonLee

imho, Reach just need to start showing profits... think this Q421 is the infliction point...

think weird Putin would want to go to war in this day and age! hmmm... but it seems that the West and their media is harping on war when people on the street is oblivious!

previous QoQ improves.. I reckon coming Q will be better on the back of higher prices... hopefully not so "batu" and "kayu" aftr all...

eating mee goreng is more satisfying... hahahha

but then again, less mtd means higher free float no? good for uncles and aunties?

weird when brent price been on the rise since Q3 2021... hmmm

Q4 21 soon i reckon?

wow volume on the highside

wow the excitement it created from shareholder disposal!!

excitement nowhere to be seen today.. continue with mee goreng..

better eat mee goreng, more satisfying... heheheh

saw last year's quarter P&L.. i wonder when they will reverse the impairment.. at this level of brent price!!

hahahaah.. lets see the latest Q...

better eat my mee goreng... satisfying...

hi sifu @freddiehero long time no see.. not waiting for goreng for a long time now... juz eating my mee goreng and enjoy the 'goreng show' that people keep trying to fool poor uncles and aunties...

yawnnn... where is the goreng.. i mean mee goreng? ;)

melkeng888 and Dennis8888 same person ah? haiyaaa like the boy who cried wolf lah you

mee goreng anyone?

hahah so true @Apple2353.... but I reckon they just want to spead false hope to poor uncles and aunties... so mean and ill intend!!

hahahahahha why I've heard this so many times. Very misleadingly funny... when pigs fly my friend..

hahahahahah see where got goreng?

what goreng rally? volume still low lah boss... if price goes aove 10 sen then its 'goreng rally'... 7.5 sen still now show meh