do not sell now sell when the market is active buying low when everyone is nervous buy low to average sell when the market is active again and rsi above >90 when the market suddenly active because of news or whatever , we as retail player would not have the chance to buy.. the price will suddenly gap.. we also dont have the privilege of info symmetry if u sell now of share bought high.. u will just caught in vicious cycle
have no worry if u have holding power because the fundamental still strong.. n good prospect of oil n gas industry ahead
the quarter result showing positive indicator Gross Profit = Show increasing gp margin over previous yr net profit = showing negative mainly they once again decide to write off asset for 50mil.. with PBT is at (15mil) ; without the impairment/write off PBT will show positive figure production service = The first production lifting of oil was completed on 24 January 2018. so still no revenue from oil in that qr result... next quarter result mar18 we will see the 1st time how income from oil production will reflect financial statement..
Knowing the true value of what is actually returned to ES from oil production in the form of revenue will be the bench mark and one that is desperately needed, way to much speculation of the figures over the last 12 months, millions here and millions there with exaggerated production figures etc etc. To write off asset for 50 mil?? we would need to know the underlying factors, it might just be that in the long run it would have been more expensive to retain them and if you are more specifically looking for better figures for next Qtr, remove then, remove the costs associated with them if they have to go better do it now than show in the next Qtr and anything that comes in from oil production will look so much better. Pointless showing additional revenue from oil and then having to cancel it all out with an asset write-off, i think for this next one coming they are desperately looking at making a bit of an impression - i am sure that there will be other operating costs/overheads reductions etc without any further write-offs and things will be drastically reduced to make Ophir look like a spectacular success.... All good stuff but should have been done years ago!!
The total cost of investment of SVPL is USD100 - I don't think there was that much of a financial strain on SES from it but it might just be a sign of bigger things in the pipe line.....
The efforts of the co-owners of the Ophir shallow-water oilfield in Malaysia to restore production have not been successful, writes Russell Searancke.
The field was shut in on 8 January this year after just three months of production to address facilities constraints identified during commissioning.
However a power fault prevented a production restart.
Nitrogen lifting operations, which began in late March on the first well Ophir A-1 to restore production, were "significantly impacted" by the weather and deck space limitations, said co-owner Octanex.
Ultimately though, the nitrogen operations were unsuccessful in restarting production, and the joint venture owners are "discussing the next steps for the field with Petronas".
Q4 results was never going to look good but with additional overheads and an even bigger loss/reduction in revenue..... I really cant see how this counter can show any means of climbing up from where it is now. Ophir was all it had going for it and that it would seem is dying a death too. It might look like a cheap buy but there is a good reason for that! buying cheap and still loosing???? personally i would just wait for the Q4 results to come out and then reassess the situation. If you are sitting on stock it might just be time to sell up and accept the losses as they are now and not waiting to be stung even harder after Q4 results...
Some additional points raised from the Octanex report. During the short production phase prior to the well being shut in was that it was observed that there was much higher than predicted gas production and much lower than anticipated oil levels..
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....
8888010
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Posted by 8888010 > 2018-02-08 11:23 | Report Abuse
no choice, i also kena tipu bought it at hot market time, TQ