drsamscope: Thanks for sharing news info.

Opps.. typo error :D

Buy, sell or hold is own decision . Everyday there will be ppl buy/sell/hold shares.
If u want to borrow from ah long.. tats is also ur own choice.

Oil price weaken due to Geo-political issues. OPEC meeting on 27/11/15. http://www.bloomberg.com/news/2014-11-12/oil-extends-losses-on-glut-concern-as-yen-near-7-year-low.html

http://www.bloomberg.com/video/lower-oil-prices-what-s-driving-the-price-qNoYHfDiSoSZmHf3HFvxRA.html

Selling doesn't seems to cool down since 29 Sept till now... but theres also buyers buying at low & lower price everyday.. pressing down and accumulation at the same time.. only big players with long term plan can do that. Small players with no holding power will be under pressure.

Big shareholders not supporting just let the small players cut lost themselves.
Everyday can see some strong selling pressure towards closing to push price lower even break strong support lvl at 0.40. Total transaction only RM500k, with 88% selling today.

johnnydepp: if u have info related can share here.
Selling queues vol still quite high even after few weeks of heavy sell down recently.
Price seems been press down back towards "low" level for consolidation after recent slight rebound. Sellers seems just don't want to subsize yet. Buyer support queues around 0.41+/-.

RTO already postponed to next year June, still have 6-7 mths to go as per announcement last mth. OSV biz r for future profit growth doesn't affect existing financial performance.
Current price movement more towards big players and market sentiments towards O&G sectors.

Today vol traded slightly higher.
Pressing down and absorbing lower at the same time.. big players game..

KLSE this week since Monday open weak... some say coz Anwar case le... worry if result out not good den supporter rage..alot play safe din buy much..

TGOFFS big shareholder also not supporting much the price, seems ok to let to free float low price currently. Last week up till 0.475 and this week drop back 0.42. White wash several times to flush out small players.

Whats the link with 1MB?

Read earlier postings.. seller queues still high prevent rebound and try maintain/block price at lower lvl.

JV to form strong partnership & connection so in future better chance to get more O&G projects.
Drilltec Offshore, an investment holding company, will carry on in the business of marketing, managing, owning, leasing, operating, maintenance and repair, and chartering of drilling rigs for oil and gas industry in Malaysia.

Welcome ozzie75. I've accumulated more TGOFFS shares recently at 0.45.
Price still stubborn below 0.50 lvl eventho theres good news abt JV for drilling rigs & integrated service for O&G industry. Buying this morning up fast till 0.475 but get press down fimmediately to 0.455 and later towards closing time another push down from 0.465 to 0.46. Rebound suppose to be strong but its obvious theres control price resistance to prevent price from spike up fast.
Even without RTO previously, TGOFFS price normally be around 0.55+/-.

Tos is subsidiary of tanjung offshore.

Joint-venture (JV) agreement to market and operate drilling rigs and provide ancillary services to Malaysia’s oil and gas industry

http://www.offshoreenergytoday.com/tanjung-offshore-drilltec-enter-drilling-rigs-jv/

Tanjung Offshore’s subsidiary Tanjung Offshore Services (TOS) has, on 23 October 2014, entered into a Joint Venture Agreement with Drilltec Offshore Sdn. Bhd.

The two companies will jointly undertake business in the area of marketing, managing, owning, operating, maintenance and repair, leasing, and chartering of drilling rigs for oil and gas industry in Malaysia. The JV will also provide other integrated services to the oil and gas industry.

By signing the JV agreement, TOS and Drilltec have agreed to work closely together to achieve the objective of the project and to utilise each other’s resources and expertise for the purpose of implementing the project successfully and efficiently, Tanjung explained in the release.

TOS was incorporated in Malaysia on 28 April 1983 as a private limited company with its principal business address at Kuala Lumpur.

Drilltec was incorporated in Malaysia’s Selangor.

TOS will have 51% interest in the JV company and Drilltec 49%.

http://www.theedgemarkets.com/my/article/tanjung-offshore-enters-jv-operate-drilling-rigs
KUALA LUMPUR (Oct 27): Tanjung Offshore Bhd’s wholly-owned subsidiary Tanjung Offshore Services Sdn Bhd has entered into a 51:49 joint-venture (JV) agreement with Drilltec Offshore Sdn Bhd on Oct 23, to create a company that will operate, maintain and charter drilling rigs for oil and gas projects in the country.

In an announcement to Bursa Malaysia today, Tanjung Offshore — which is attempting to return to the offshore services vessel (OSV) market — will work together closely to achieve the objective of the project and to utilise each other’s resources and expertise, so as to ensure successful implementation of the projects.

It added that the JV agreement shall be reviewed from time to time, in the light of changing commercial circumstances.

The JV company will have an initial authorised share capital of RM500,000, with 500,000 ordinary shares of RM1 each; while the issued and paid up capital will be RM100,000, with 100,000 ordinary shares of RM1 each
=================================================================
More JV good +ve sign for TGOFFS O&G biz, best for cost saving, help business grow faster, access to new markets distribution networks, increase productivity and generate greater profits. Usually JV because forsee future demand/prospect to secure more big O&G project/contracts.

JV TOS - 51% , Drilltec - 49% (RM500,000.00)

TOS - 51% shares worth of RM255k.

3.4 Share Capital
The JV Company shall have an initial authorised share capital of RM500,000.00
divided into 500,000 ordinary shares of RM1.00 each.

Picking up some buying strength today..

Some break down of TGOFFS recent biz activities.

Dato Tan Sri TKS increase shareholding to 5.79%

PETRONAS contract RM200million 3yrs with possible extension to 4 yrs. 24/9/14

Fircroft Tanjung Sdn. Bhd. (FTS) has been incorporated on Aug. 01/14 with authorize capital RM1million, TOS holding 51% abt RM0.51million

Tanjung Offshore Bhd announces option agreement with HB Properties PLC bought WAVENET for RM37million, 22/5/14

Tanjung Offshore Bhd and HMS Petroleum Sdn. Bhd jointly incorporates subsidiary namely Tanjung HMS Petroleum Sdn. Bhd with authorize capital RM400,000 - TOS holding 51% , 4/5/14

TGOFFS bought GASTEC 100% cash (RM5.1 million + RM34.3 million = RM 39.4 million) , 24/4/14

Private share placement bought by Tan Sri TKS about RM17million at 0.57, 10/9/13

Yes..good observation, rebound is weak.. less than 10%. As mentioned earlier, theres obvious sell down progress that break several support lvl n slow accumulation sign of TGOFFS shares at low price. Whenever theres buyer try to buy up.. the seller queues will increase to suppress the price..and the buying continues at low price lvl. Theres also lack of strong support even with TKS buy announcement price at 0.565 (200k), 0.55 (200k)and 0.53(400k) price lvl increase his total shareholding to 5.79% from 5.62% previously. NTA TGOFFS stands at 0.51 and at its current price 0.435 its trading at low ..even lower than last year private share placement price which was at 0.57 and RTO offer price for Bourboun + BNI group at 0.708. Since RTO plan delay 2 next year June, TGOFF share price quite volatile but there will still be buyers buying it. See its price last 1-2 yrs ago.. after sold of TKS OSV price drop a lot but still can rebound high several times till highest 0.78. Those interested with TGOFFS share, set own entry and exit point and also like stocktrader88 adv... buy only if have holding power. If not suit risk appetite.. den go for other stock that u guys like.

http://www.thestar.com.my/Business/Business-News/2014/10/20/Mobius-says-pent-up-demand-from-local-funds/?style=biz

RTO postponed to next year June for thorough due diligence work especially valuation of the assets n shares swap.

Industry players stay positive
http://www.thestar.com.my/Business/Business-News/2014/10/18/Industry-players-stay-positive/?style=biz 18/10/14 the starbiz

Risk comes from not knowing what u are doing. - Warren Buffet.
Invest with own investment plan and ignore those "Squeeky Noise".
Those noise usually comes from rusty empty vessel that echo their own hollow emptiness.

I only share the info available that TGOFF have PETRONAS O&G license to secure projects/contracts, whether will get more new contracts will depend on PETRONAS end as well. I don't have crystal ball like u that can confirm no new O&G projects but turn out ada RM200million projects. Do research and share info, dun ask for future ... ask ur own crystal ball and decide ur ownself.

THHEAVY drop abt 50%.. very high handed play by the big players. O&G sector slow/downgraded but its no biz crisis/financial issue, THHEAVY more related to their upcoming right issues proposal which not even confirm on the price yet also. .. since price already low, right issues might not have many ppl want to subscribe.

Only have 0.445 & 0.45 selling queues, others r small queue vol seller are way up at 0.47.

Current TGOFF seller queues very odd... 0.45/0.46/0.475 no follow sell queues order and break in between.. unlike buyer queues.

THHEAVY also get hit quite badly.. the big players that push earlier till rm1.05, now just collect lower at 0.54. TGOFFS vol traded also low but price going down due to buyer no buy up, just accumulate lower.

steveooikp: Price jump down 0.46 to 0.440 at 12noon, some Desperate seller throwing/purposely press price lower. Low vol and total transaction 1st half trading abt RM147k.
Seller queues much lesser than buyer queues.
Looks more like accumulation from the buyer queues and seller pressing ppl 2 sell.

Ongmarine: Ppl ask u, u tell him ask me? Ur crystal ball not working?
I only share the info available on the internet. RTO still on track as per news /official announcement.

Still buy/sell/hold is investor own choice, if u cant accpt that simple investment decision, theres nothing u can do also.

U can try ask the big main shareholders why they holding and not selling. Latest announcement last week TKS accumulates more.

Collin Wong: Based on previous historical price.. next support at 0.46. Still have some selling pressures with 76% selling today.

needaname: Before PETRONAS RM200 million contract annouced, TGOFF price went down.. 0.52, later announced went up back 0.585, those -ve trend, sell earlier "low" buy back " higher". Bfr RTO official announce delay.. price went down..so same situation... investor will decide themselves whether to sell first or hold coz theres alwys "risk" involve in stock trading/investment no 1 guarantee what will happen next/future. Price movement and trend is different la.. if later TGOFFS secure more few hundred million contract and price spike up, den ur earlier -ve trend, sell 1st n buy back later how? U going to admit mistake that you were too stubborn to believe that ?

Buy/sell/hold is investor own choice, they can decide themselves unless they r like u blame others for "own" mistakes/blunders..

TGOFFS went up highest 0.775 in May 2013, fall to 0.46 last year Jun 2013 after the newsplay of M&A quiet down but later when more news abt the M&A out, price shoot up back to 0.725 in July 2013, later drop back 0.52 in Aug 2013, more newsplay up again till 0.75 in Nov 2013. Same goes in 2014. Price swing in TGOFFS base on historical price chart is obvious.

My friend bought some at 0.485 this morning, queing at 0.48.
I want to buy oso but fund only coming in next week.

pirate99: not just O&G, seems like across all boards. More like corrections to KLCI..

ozzie75: Theres strong wind out there and some already shaking freezing cold or maybe get blown away... that's why a lot howling and squeaky weird noises can be heard.

GiveMeFive :Whether an investor buy/sell/hold its his/her own biz.. as u said no doubt thats anybody right 2 decide. So its better mind own biz and be more mature, Not busy body tell others wat they should do with their stock whether to love it or not. Yes, theres ALWAYS more mature investors than you also out there!

I invest according to my own risk plan and still on track.
Delay is part of RTO process risk, and those who have strong holding power don't mind to wait and accumulate more. Those who sell earlier also its their choice. Its their investment plan.

I didn't force any1 to buy TGOFFS as I just share the infos available and also my own views.
U should grow up think/behave like a mature investor. Every1 is answerable to him/herself on the decision made to buy/sell stocks.. if u can't then u shouldn't invest at all coz u don't even know wats stock investment are at the 1st place, buy/sell blindly and blame others when things goes diff direction...very naïve and immature.

Big shareholder increase % shares, RTO extend longer till next year, low price buyer... good opportunity for the big shareholders/players to accumulates back TGOFFS shares from the minorities shareholders.

Very obvious seller queues are preventing price from rebound.
Some big players accumulating TGOFF at cheap price but doing it slowly base on much lesser buyer queues.

200k X 3 times direct sell can break up support buy queue quite fast n bring it 2 lower price.. of coz if bigger ones like 5000 X 100 several times will have bigger impact. Usually track the big buyer/seller from the big single transaction like 1000/2000/3000/4000/5000 X 100 units.. those usually will move up/down the price. Maybe for u RM100k single transaction is small... if continuous 3X - 5X or more easily RM 300k - 500k++ already..

Either some panic seller selldown or some big players continue take oppurtunity to press down the price today .. big sell vol (3 times of 2000 x 100 units sold) transacted at 0.495. Seller seems eager to sell even the buyer support queued at 0.495 is strong.
I bought some today at 0.50.

Normal le.. since RTO extend abt 8 mths .. some players will exit whereas those long term player/big shareholders will accumulate at lower price.

Both parties agreed for RTO HOA extension but price weaken due to some players exiting /cant hold long.

Tanjung Offshore Bhd, Bourbon Far East Pte Ltd and their key business partners have agreed to extend the the heads of agreement (HoA) from Oct 5 to June 30, 2015. The announcement to Bursa Malaysia noted that the extension was to facilitate the physical inspection and valuation exercise of the vessels to be acquired by Tanjung Offshore and the due diligence exercise.

"The physical inspection and valuation exercise require a substantial amount of time to complete as a large number of vessels are involved, where there will also be limitations on accessibility to conduct the physical inspection of the vessels which are constantly on the move and sometimes operate in restricted and international waters," Tanjung Offshore said. The company added that the other terms and conditions of the HoA remained unchanged. (StarBiz)

TGOFF and Bourbon + BNI group choose the longest/safest RTO route process...
Ekuinas unable to assist with the removal of the Non-Compete clause since it will involves the management Board of director of IconOffshores and the process also will takes some time EGM meeting for approval etcs. Hope the valuation confirmation and more details of the RTO will be announce in coming near months.