ICON being bought over by Executive Chairman of YINSON. And then there is the IPO of Keyfield International, an OSV operator.

There appears to be much interest in OSV operators all of a sudden. Indeed OSVs is in tight supply and DCR (daily charter rates) is increasing since 2022. Perdana, having the cleanest balance sheet, should benefit and perhaps will be buying new vessels, especially AHTS.

Wow, 38M shares traded, hot hot ....

https://oilprice.com/Energy/Energy-General/Oil-Majors-Set-To-Sanction-125-Billion-Upstream-Projects-in-2024.html

Yes, Dayang had secured 13 contracts, 4 announced in Jan 2024 while the remaining last year. Now is March. These good news would have already baked into the current price. And not forgetting on 11 Mar (Monday), ex-dividend.

To climb higher, it will need more than just "imagination". So, any new contracts? Dayang tendered as claimed in the last quarterly report. So be patience.

What contract did Dayang secured?

Combilia Hubella - item 1 referred - Dayang on 4th Jan 2024 made the announcement as : https://www.malaysiastock.biz/Company-Announcement.aspx?id=1531499

With Perdana Q4 23 result, the charts for Perdana has been updated.

Perdana, a 65% subsidiary of Dayang just declared an excellent results. https://www.malaysiastock.biz/Company-Announcement.aspx?id=1540368
This should reflect on Dayang's marine segment too. Coupled with new rates for the topside maintenance, Dayang final quarter and full year result should be good ....

Will not be surprise that whole year (net) profit comes in near 190M and 2024 net will exceed 2019's 222M.

All these vessels contracted are not there for show. There are there to perform maintenance, refurbishment, hook-up and or commissioning of producing facilities offshore.

This will means that Dayang TMS (Topside maintenance and services) should have been busy for Q4 2023 and 1st half 2024.

The FPSO Anasuria life would be extended by:
1) Teal West that should be coming on-stream end CY2024 /early CY2025
2) Fyne Field coming on-stream end CY2025 early CY2026 (my guess)

And Marigold recently announced Unitisation and Unit Operating Agreement (UUOA) between AHUK, Ithaca and Caldera should accelerate the field development.

Perhaps one of the deal announced that has fallen under the radar is the one on the proposed acquisition of Fyne field that contain 75 MMboe STOOIP on 1/9 & 13/10.

The field is only 16km from Anasuria. At 42.5% stake, Hibiscus share will be 31.88 MMboe.

Fellow investors, after reviewing further the Q2 23 results, there were 2 records - highest revenue & highest net profit for Q2.

Profit margin has rebounded to nominal.

Q2 revenue is RM 305.7M - this is closer to previous Q3 revenue (357.5M in 2019 & 338.3M in 2022). This implied that coming Q3 2023 revenue would potentially be a record - exceeding 357.5M. This as alluded to in the Q2 report - sustainable ...
Thus given return to nominal profit margin, net profit could be nearer to RM 100M.

Also, utilization of vessels is 72% (Q2 23) - from past records, Q3 utilization would be nearer 85%.

All signs pointing to a promising Q3 results, potentially being record too.

https://www.ubs.com/microsites/player/en/circle1-videoplayer.html?id=6329400098112&play=yes&__hstc=214401352.340fbbe1eda2af607f55b72c42dac6c6.1691228251775.1691228251775.1691228251775.1&__hssc=214401352.1.1691228251776&__hsfp=3022105166&hsCtaTracking=1d67c203-9c0e-432f-956b-f1e050e0ca75%7C433c143d-7d49-41bd-a6fe-7e470c0fecd9

Got clarification that lease liabilities mainly consists of the leases of the 2 FSO (Floating Storage Offloading) Vessels used for the PM3 CAA PSC (previously under Repsol).

Share buy-back: Recently, The Edge reported that EPF voted against such proposal.

Unless the companies have good use of excess cash, it is preferred that such cash be returned to shareholders as dividend, this I concurred. But should there be excessive overhang of shares issued, yes, shares buy back will be a plus only those shares that is bought are cancelled. Without cancelling, then it is just manipulation, OK better term, speculation.

Huge debt - two components, 1 is lease liabilities and 2 is borrowing of 194.1M (term loan & revolving credit).

The lease liabilities should be mainly abandonment cost and well covered.

From cash flow, the cash reserve is 600+M, about 3x term loans+revolving credit.

Why is it am issue, James_Bond?

Understanding OPEC+: https://a9w7k6q9.stackpathcdn.com/wpcms/wp-content/uploads/2023/06/241-Unpacking-OPEC-Multilayer-Decision.mp3

The energy transition delusion: inescapable mineral realities
https://www.youtube.com/watch?v=sgOEGKDVvsg&t=34s

Germany to delay the halting of fossil fuel vehicles:
https://www.zerohedge.com/political/implausibility-net-zero-carbon-energy-future-now-obvious

Wind turbine and its issues :
https://www.zerohedge.com/political/eminent-oxford-scientist-says-wind-power-fails-every-count

Decarbonization - chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://vaclavsmil.com/wp-content/uploads/2022/03/Decarbonization_Algebra_The_COP26_Calls_for_Impossibly_Steep_Cuts_in_Carbon_Emissions_Numbers_Dont_Lie.pdf

“There’s no emergency” – dissident climatologist Dr Judith Curry on climate change
https://www.youtube.com/watch?v=YBdmppcfixM&t=4s

Johnchew5 - Haha is Russian’s invasion is going to be ended by ard Nov 2023 as predicted? Appreciate who made the prediction, thank you.

https://www.youtube.com/watch?v=sgOEGKDVvsg&t=142s
The energy transition delusion: inescapable mineral realities

https://www.youtube.com/watch?v=sgOEGKDVvsg&t=142s
Minerals required for transition ...

Here are youtubes on the limitation of renewable energy :
a) https://www.youtube.com/watch?v=3o0xzCa2fLQ&t=149s
b) https://www.youtube.com/watch?v=AdJH3tKjvzM

Geological Survey of Finland, GTK, wrote a paper on bottlenecks in Raw Materials Supply Chain for the new renewable economy: https://www.gtk.fi/en/research/time-to-wake-up/

Further evidence that climate change / warming is a hoax : http://www.williamengdahl.com/gr22October2022.php

Further evidence that climate change / warming is a hoax : http://www.williamengdahl.com/gr22October2022.php

To all investors of Chinese origin, have a delightful reunion dinner with lots of laughter and happy moments. And a Healthy, prosperous Rabbit year ahead.
To the others, happy holiday.

https://www.zerohedge.com/geopolitical/net-zero-will-lead-end-modern-civilisation-says-top-scientist

twynstar - happy new year to you and family.

There will be other sources of oil outside usa. BUT, they will not be able to be delivered in the short time like shale (tight) oil. This means that inventories will not be building or possible reduce further in the coming quarters.

Another bank going to cut finance to oil and gas projects:
https://www.scmp.com/business/banking-finance/article/3203340/hsbc-under-pressure-climate-policies-stop-funding-new-oil-and-gas-projects

Dayang 3Q22 revenue, 338M is 2.5X that of Petra's 133M.
Also, Dayang's issued shares is 2B while Petra's is only 321M.

So by just giving EPS 4.57 of Dayang vs 7.57 of Petra is insufficient to make an investment decision.

twynstar - recently? Appreciate link, thank you very much.

mrcrab - source please, thanks,

Hmmm ... https://www.zerohedge.com/markets/biden-admits-truth-no-more-oil-drilling-energy-stocks-set-soar

Now that mid-term election is near (nov 8), any movement on price of oil will not have any effect on the results, if any it will be negligible.

Understand oil market (& oil price):
https://www.youtube.com/watch?v=Q6bkJp5SJJk

The experiment in Europe is getting interesting:
https://www.zerohedge.com/geopolitical/lets-get-out-nato-discontent-soars-across-europe-russian-sanctions-backfire

Truth about solar panels and its coming waste problem:
https://www.mackinac.org/blog/2022/bright-panels-dark-secrets-the-problem-of-solar-waste

Post removed.Why?

Now Greta is controlling Germany: https://www.zerohedge.com/political/after-gretas-blessing-germany-extends-life-three-remaining-nuclear-plants

Post removed.Why?

Post removed.Why?

Here is Maybank Investment Bank take on Hibiscus - indeed the Future is Bright:
https://mkefactsettd.maybank-ke.com/PDFS/282827.pdf

More comments on OPEC+ cut for better understanding of the potential effect of the proposed cut: https://www.hellenicshippingnews.com/pimco-opec-production-cuts-show-energy-security-has-a-price/

Rystad, an energy adviser Hibiscus frequently uses, stated that OPEC+ 2M cut provides stability to the oil market, etc.:
https://www.rigzone.com/news/brent_likely_to_hit_100_per_barrel_by_year_end-07-oct-2022-170632-article/

The intrigue of oil price: https://oilprice.com/Latest-Energy-News/World-News/US-Officials-Promised-Saudis-It-Wouldnt-Let-Oil-Market-Collapse.html

The Saudi was tricked once by the previous us President in 2018/9 that sanction Iran oil and at the last moment gave wavier to many countries causing price to collapse. Well, white men speak with forked tongue, Saudi appears to not trusting usa anymore.

Mid-term usa election is on 8/11. The need to posture for lower oil price could be become redundant soon.