I don't think Bumi Armada is an oil proxy in a direct sense lah...it depends on the delivery of the FPSO, that's the important thing. And winning more contracts. High oil price but no end results, no use also.

Anyone knows the expected quarterly revenue for all 4 Bumi Armada's new projects? Namely, FGS in Malta, and FPSO in Angola, Indonesia and North Sea? Doing some rough estimation on my part, it seems like it could go back to the glorious days of 2013-2014!

Well, that's further upside then! Another possible upside is also court settlement from the Armada Claire contract, but so far it's been silent on that front. Yet another upside is from the Texan/American subsidiary that Bumi Armada recently formed. So yeah, lot's of good things to look forward to! Let's hope the worst of Armada is behind us.

After this, does anyone know if Bumi Armada has anymore outstanding projects? Or is Kraken and Sterling III the last in their order Book?

@weng77, I don't see Bumi Armada being mentioned anywhere. It would be foolish to draw premature conclusions from that report.

Guys, let's be logical. Upsides:

1) Angola first oil hit one month before latest expectation

2) Armada Kraken has left Rotterdam for North Sea oilfield moments ago

3) Malta Floating Gas facility went live in January (positive that never got priced in)

Downsides? Terrible, wretched Q4 report that possibly has already been priced in. I don't believe the share price will go below 0.65 anymore. When Q4 report is out there will be a temporary drop for sure, but from then we're green baby!

Looking at it, I feel like Bumi Armada, if there are no unforeseen negative scenarios, should exceed market cap of RM10bil next year. By end of this year, doubling of share price to RM1.20 is very realistic.

The beauty about this company is it has got 3 major projects coming on live almost the same time in Angola, North Sea and Indonesia. Fingers crossed and we shall see the share price triple by end of 2018.