So far Scomies strategy to reduce borrowing n launch new products to mitigate the loss of oil rig revenue is right direction. Also, successfully reduced their operating cost by 18%
UMW Oil & Gas Corporation Berhad (UMWOG), through its subsidiary, UMW Offshore Drilling Sdn Bhd, secured a contract to provide a jack-up drilling rig and services for the Ophir Field, located in Terengganu. UMWOG also confirmed that Ophir Production Sdn Bhd (OPSB), a joint venture owned by Australia-based Octanex Pte Ltd (50%), Scomi D&P Sdn Bhd and Vestigo Petroleum Sdn Bhd (20%), awarded them a letter of award for the service.
all my investment bough by the agent around around mid 2013, all sinking with few counters gone with the wind. My poor efp investment and dry out my pocket money.
i have confident that this one will follow suit very soon...after hibiscus and dnex..the cheapest producer on klse once the field up and running..easily above the price of dnex as still laggard during this run up..still hovering around the bottom...take a close look..
Worth a look.. It will be directly benefit from higher oil price as it is the cheapest producer...As for the RSC field, the exploration break even cost is re negotiated at USD 30 to 35 per barrel.. IF the oil price stays at this current price of USD50, the RSC oil filed will be the next big contribution, the company expect 1st oil will be on 3rd QR..
luckyman, have you thought of the fact that profit genrated by OPHIR (hopefully crude can still US50 and above by 2nd half) could easily be negated by the under utilisation of marine vessels, low drilling activities and low waste management activities ?
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Worth a look.. It will be directly benefit from higher oil price as it is the cheapest producer...As for the RSC field, the exploration break even cost is re negotiated at USD 30 to 35 per barrel.. IF the oil price stays at this current price of USD50, the RSC oil filed will be the next big contribution, the company expect 1st oil will be on 3rd QR..
Pak lah is the adviser to petronas ... Scomies will be worth a look in term of fundamental and political play for the coming year..
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
nippy65
197 posts
Posted by nippy65 > 2016-08-10 15:14 | Report Abuse
Nothing will come out of it. If something will to come out of it, is not good thing.