Posted by TopEarn1 > 2020-05-22 20:23 | Report Abuse

Is it a bad or good news? I think is a good news for the reimbursement. Since oil price is not at 90USD.

Posted by Croxxx > 2020-05-22 20:25 | Report Abuse

https://www.theedgemarkets.com/article/petronas-cuts-fy20-capex-and-opex-oil-slump-hits

Posted by amircesc4 > 2020-05-22 20:47 | Report Abuse

Tg Baram Small Field Risk Service Contract (SFRSC) operated by Enquest and UZMA as partnership. The production from this field to West Lutong had been up and down since 2019. The production ceased since Q4 2019 and relinquished in Q1 2020. The production annualised is not that significant, circa 300b/d only. Last production before cessation around <100b/d. There is nothing so innovative, it is just wellhead platform FWS to West Lutong.

I'm neutral on this, normal business, negative cashflow even at USD60/barrel hence the relinquishment.

Posted by LikeAstar > 2020-05-23 14:13 | Report Abuse

SuperPanda, Is good or bad news Uzma contract terminated ?

Posted by Ramboone > 2020-05-23 14:26 | Report Abuse

It's neutral....

Posted by SuperPanda > 2020-05-23 14:37 | Report Abuse

yes im neutral too, its a small well which petronas awarded uzma jv enquest to venture in e&p and they will be paid for work done

Posted by ragesliew > 2020-05-26 13:06 | Report Abuse

Good news for RSC termination.... they can claim back on the CAPEX n OPEX deployed..... look at previous RSC termination.... see how much Petronas reimburse them..... Sapura Berantai, Ophir n etc..... RSC is formulated for marginal field and local participation, operator can give up if operating at negative, or oil price below certain threshold.

Another point.... at least this will be consider as revenue for Q2 2020 even if there is reduce O&G activity.

Posted by moneyfind > 2020-05-27 13:35 | Report Abuse

Not need to think...juz buy ini uzma...high chances to make money

Posted by SuperPanda > 2020-05-27 13:39 | Report Abuse

.68 coming in 2 wks

Posted by SuperPanda > 2020-05-28 11:08 | Report Abuse

collect again below .60

Posted by ashmira > 2020-05-29 23:36 | Report Abuse

Yes, support is 0.545 and 0.515. Keep collecting more before its fly to TP1 0.68, TP2: 0.79 and TP3: 0.92. Chill and relax. Oil sector will definitely recover slowly. Don't be afraid if got holding power. Lesson learn when i bought carepls, 0.3 then sold 0.54 then bought back 0.64 and sold it 0.88. Now price is 1.4. If i hold it more longer since 0.3 how much profit i will get. Damn.

Posted by CSOON 77 > 2020-05-30 08:31 | Report Abuse

Malaysia 's stocks enter BULL market all happy tradings

Posted by penniless_anchovy > 2020-05-30 15:16 | Report Abuse

not all happy bro..kena con d at air asia..sigh

Posted by TopEarn1 > 2020-05-30 21:03 | Report Abuse

With the termination of the Tg Baram Small Field Risk Service Contract (RSC) with Petronas as it achieved economic cut-off during the 2Q and 3Q of 2019, Uzma is expected to get c. USD22m reimbursement from Petronas for the capex and opex spent on the field. It is understood that the borrowings in relation to the contract is USD13m which will be settled in 3 quarters with the final in February 2021. With this settlement, Uzma is expected to improve its gearing from 1.0x to 0.8x while interest savings upon its full completion will be around RM2.5m per year.

Posted by SuperPanda > 2020-06-01 09:00 | Report Abuse

will add again if drop below .60

Posted by CSOON 77 > 2020-06-01 09:23 | Report Abuse

Yes agreed 0.58-0.595 best buy

Posted by volks2 > 2020-06-01 11:14 | Report Abuse

it's coming again

Posted by CSOON 77 > 2020-06-02 08:29 | Report Abuse

Retest 0.65

Posted by SuperPanda > 2020-06-02 09:44 | Report Abuse

this week will touch 67-70, brent will move towards 37usd

Posted by CSOON 77 > 2020-06-02 09:59 | Report Abuse

BIG SHOW happy trading

Posted by moneyfind > 2020-06-02 13:51 | Report Abuse

I set target 75!

Posted by SuperPanda > 2020-06-02 16:26 | Report Abuse

continue hold till .70, oil rally may take the whole week

Posted by moneyfind > 2020-06-02 22:40 | Report Abuse

Superpanda,ur TP too Low la!!!

Posted by SuperPanda > 2020-06-02 23:10 | Report Abuse

swing trading only, at .70 i earn 10c x 50k shares rm5k, that would be good enough

Posted by SuperPanda > 2020-06-02 23:13 | Report Abuse

then will visit back when retrace as i believe the market is highly volatile

but im monitoring trend every hour, decision can change any time

Posted by JoshuaMS7 > 2020-06-03 05:34 | Report Abuse

this is fundamental counter, anytime with higher oil price, it should back to 1.00 and above!

Posted by SuperPanda > 2020-06-03 08:53 | Report Abuse

after went through TA, if oil continue rally, .75 is not impossible before correction

Posted by mf > 2020-06-03 08:55 | Report Abuse

Oil hits three-month high over hopes for output cuts

Posted by penniless_anchovy > 2020-06-03 09:44 | Report Abuse

can i sell at .68 or wait .70

Posted by amircesc4 > 2020-06-03 11:10 | Report Abuse

Trapped dah ke semuaaaaa??

Posted by SuperPanda > 2020-06-03 11:58 | Report Abuse

will hit .70 for sure, just wait

Posted by ashmira > 2020-06-03 12:04 | Report Abuse

Normal, market rest a while. After bullish mode, it will rest a while or retracement before making another rally

Posted by amircesc4 > 2020-06-03 12:23 | Report Abuse

I can wait bought 0.325 and will hold until rm1 to cover iwcity, haha

Posted by jojo85 > 2020-06-03 13:12 | Report Abuse

test 0.695 this morning..then will smash it if price touch it for 2nd time..

Posted by volks2 > 2020-06-03 13:50 | Report Abuse

hopefully after morning profit taking, it will come back in afternoon

Posted by leavk123 > 2020-06-04 22:56 | Report Abuse

Uzma's subsidiary bags RM12 mil contract from Pertamina

https://www.theedgemarkets.com/article/uzmas-subsidiary-bags-rm12-mil-contract-pertamina

Posted by fitman > 2020-06-04 23:23 | Report Abuse

gap up tmr. g9

Posted by Steve Ooi > 2020-06-05 02:10 | Report Abuse

KUALA LUMPUR (March 2): Uzma Bhd said its subsidiary Uzma Engineering Sdn Bhd has secured a contract for the provision of platform wells plug and abandonment campaign for Sarawak 2020 from Sarawak Shell Bhd and Sabah Shell Petroleum Co Ltd.

Under the RM100 million contract, Uzma will supply integrated plug and abandonment services for related works at two Shell-operated platforms involving five wells.

Works are expected to commence in "April and completed by November this year"

This short term contract is an addition to the company topline for coming 2-3quarters.
revenue atleast 120-140mil/ quarter.

Sounds cashflow plus Petronas reimbursement sum RM 100mil in coming quarters.

Posted by JoshuaMS7 > 2020-06-05 12:03 | Report Abuse

oil price second attempt break 40 usd!! Later can go up like hibics break 0.700?

Posted by Steve Ooi > 2020-06-05 12:07 | Report Abuse

Resist at 69.5sen, once break next level will be 78sen
Depend on your holding power.

Posted by amircesc4 > 2020-06-05 21:01 | Report Abuse

No need to worry, brent otw to USD45

Posted by tkl88 > 2020-06-05 21:48 | Report Abuse

Wow, oil price spike up crazily !
As at 9.41am,
Nymex=> $38.81 (+1.40) (+3.74%)
Brent => $41.77 (+1.78) (+4.45%)

Posted by mkme75 > 2020-06-05 22:19 | Report Abuse

Congratulations to All Dayang, Uzma , Hybisc, Icon, K

Posted by tkl88 > 2020-06-06 07:23 | Report Abuse

Walaoeh, Amazing, Dow Jones was superb bullish !
Dow Jones closed at=> 27,110.98 (+829.16) (+3.15%)

Next week all stocks in KLSE especially O & G stocks will be spike up till sky high !

Huat ah ! Heng ah ! Ong ah !

Posted by cikenggg > 2020-06-06 10:47 | Report Abuse

its o&g time

Posted by ycbang > 2020-06-06 13:59 | Report Abuse

Tp 80sen ..than shoot rm1

Posted by moneyfind > 2020-06-06 14:37 | Report Abuse

So long i live in cave.see from far glove clan party everyday..
Next week hope can eat meat la.
Everyday eat veggie from ocncash sudah x boleh tahan lo...

Posted by Steve Ooi > 2020-06-07 23:26 | Report Abuse

Guys MHB another oil and gas gem.
Buy before too late.

Posted by Trapps > 2020-06-08 22:34 | Report Abuse

Oil pricev drop from 43to 41... Good luck... Tesla stillbremain the choice ..

Posted by lanikai > 2020-06-09 02:15 | Report Abuse

“Later on Monday, however, prices reversed course and were down by around 1 percent at 8:00 a.m. EDT during the OPEC+ video news conference at which Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said the extra cuts that the Kingdom and its Gulf allies had promised for June on top of their commitments would not be extended to July.”

Thats explain why the oil price is dropping. Latest news.