Posted by Bon888 > 2023-02-10 11:06 | Report Abuse

Adjustment after a long rally is normal lah uncle. Nothing to worry. Now back to 0.60. Fundamental still solid and still undervalued, so nothing to worry.

Posted by i3lurker > 2023-02-10 11:32 | Report Abuse

pump and dump
dump and pump

its the same thing

Posted by Bon888 > 2023-02-10 13:09 | Report Abuse

Quater report in next 2 weeks time and new FPSO contract award announcement soon. Pump and dump or dump and pump, no problem at all because the price trend is moving to the moon! To the Moon!

Posted by pang72 > 2023-02-10 14:16 | Report Abuse

Price elevated higher anticipated good QR ahead

Posted by pang72 > 2023-02-10 14:17 | Report Abuse

What I like to see is support at 60c above ..

QR shld be great then rerating to 80c...

Posted by vespa > 2023-02-11 07:47 | Report Abuse

short sellers !!! beware

Posted by success2628 > 2023-02-11 08:05 | Report Abuse

Oil prices posts gains after Russia says it will cut output by 500,000 barrels a day
PUBLISHED FRI, FEB 10 2023 6:18 AM EST
UPDATED 3 HOURS AGO
Ruxandra Iordache

https://www.cnbc.com/amp/2023/02/10/oil-prices-rise-after-russia-says-it-will-cut-output.html

Russia will cut oil output by 500,000 barrels per day in March, Deputy Prime Minister Alexander Novak said on Friday, following Western bans on Moscow's crude and oil products implemented in the past few months. 
The announced production decline amounts to roughly 5% of Russia's latest crude oil output, which Paris-based watchdog the International Energy Agency estimated was down at 9.77 million barrels per day in December.

The Brent contract for April delivery rose 2.24% to settle at $86.39 a barrel, having risen more than 8% for the week. U.S. West Texas Intermediate crude futures rose 2.13% to settle $79.72 a barrel, and rose 8.63% for the week for to notch the best week since October.
Novak said that the reduction will "help restore market relations," according to a Google translation of comments reported by state news agency Tass.
He noted that the cut does not apply to gas condensate and will be calculated from actual output levels, not from Russia's quota under the OPEC+ output agreement. The decision was not made in consultation with the OPEC+ coalition, which Moscow co-chairs.
OPEC+ producers must typically agree consensus on output policy, with members bound to their targets. But the group has previously allowed voluntary gestures that honor the spirit of existing output agreements — in this case, the Russian decline would build on a previous OPEC+ decision to lower production by a combined 2 million barrels per day, agreed in October last year.
Other OPEC producers facing sanctions, such as Venezuela and Iran, have requested and received exemptions from their production quotas. Several OPEC+ delegates previously told CNBC that Russia had so far signaled no intention to ask for similar accommodations.
The EU implemented bans on seaborne imports of crude oil on Dec. 5 and of oil products this week. Under a program passed by the G-7 wealthiest nations, Western providers may continue to supply key financial and shipping services to transport Russian volumes to non-G7 destinations, provided these fuels are purchased beneath specific price caps.
"As previously stated, we will not sell oil to those who directly or indirectly adhere to the principles of the 'price ceiling'," Novak reiterated on Friday, adding that the price cap program could lead to oil and oil products shortages.
"Lower Russian production together with China's reopening should tighten the oil market further over the coming quarters," UBS Strategist Giovanni Staunovo said in a Friday note to clients.

Posted by success2628 > 2023-02-11 08:13 |

Post removed.Why?

Posted by OrlandoOilSemiconIoT > 2023-02-11 10:06 | Report Abuse

Oil storages in China were maxed out full due to lockdowns

Russia is exporting 11,000,000 barrels per day and all taken up

Now China just reopened
..

Pricing... Sellers are calling the shots

Posted by Bon888 > 2023-02-11 10:58 | Report Abuse

Uncle and Auntie, Brent oil price trade above USD 86 !

Posted by Macgyver11 > 2023-02-11 15:04 | Report Abuse

Macgyver11

Star gives reverse opinion with BNM. There's lot of cover-up from BNM. Just FYI.

https://www.thestar.com.my/business/business-news/2023/02/11/honeymoon-over-as-reality-sets-in

Posted by nikicheong > 2023-02-12 14:16 | Report Abuse

Shapoorji is planning to bid for Brazil FPSO contract, not sure if Bumi Armada is involved in some capacity. However, I recall last year AGM the CEO mentioned that Bumi Armada has zero intention to get involved in the Brazil market.

https://www.upstreamonline.com/field-development/race-is-on-four-contractors-mulling-bids-for-sizeable-petrobras-fpso-in-brazil/2-1-1402003

Posted by Bon888 > 2023-02-12 18:37 | Report Abuse

Last year AGM the MD or CEO said moving forward Bumi Armada will bid for EPCC type of FPSO contracts. Meaning the FPSO project will be the oil company`s CAPEX. This will reduce the company risk and financial burden but the rewards is much lower than current business model. High risk high return, low risk low return.

Posted by Bon888 > 2023-02-12 18:40 | Report Abuse

Or Joint venture type.

Posted by pang72 > 2023-02-12 19:18 | Report Abuse

Let's see how high it can go tmr..
If can lift up to 63 to 65c then almost confirm 80c mari.

Posted by pang72 > 2023-02-12 19:22 | Report Abuse

News reports have it that Bumi Armada could bag a new FPSO charter contract in Angola, with TotalEnergies’ Cameia FPSO project, located on Block 21 offshore Angola, and is a contender for Eni’s Agogo FPSO on Blocks 15 and 16 offshore Angola as well. Other than the two jobs in Angola, Bumi Armada is also understood to be eyeing FPSO contracts in Block 29 in Mexico being undertaken by Repsol.

Posted by nikicheong > 2023-02-12 20:04 | Report Abuse

I think Agogo safely belongs to Yinson.

Posted by Robert Waters > 2023-02-13 03:06 | Report Abuse

I also remember AGOGO going to Yinson. And at that time TUNA became an option. Indonesia is within BA interest area.

Posted by pang72 > 2023-02-13 08:03 | Report Abuse

ARMADA QR 2002
Eps 3.1+3.1+2.5+2.5(estimated)= 11.50
Pe10 1.15

So, 80c from IB is reasonable!!

Posted by pang72 > 2023-02-13 16:12 | Report Abuse

Macam lai liao wo

Posted by pang72 > 2023-02-13 17:18 | Report Abuse

61.5c...
Very high possibility for 80c mari..

Posted by Bon888 > 2023-02-13 17:27 | Report Abuse

Pasti and Mantap!

Posted by Bon888 > 2023-02-13 22:07 | Report Abuse

Uncle! Armada steady bom bi bi!

Posted by Bon888 > 2023-02-13 22:10 | Report Abuse

One Cameia FPSO project win cukup makan already. Enough to push the share price beyond 0.80. Don't think too much and don't be greedy. Steady BOM BI BI OK!

Posted by alenac > 2023-02-14 13:22 | Report Abuse

How much Cameia FPSO project contribute to turnover?

Posted by Bon888 > 2023-02-14 18:50 | Report Abuse

The Cameia FPSO (Floating Production Storage and Offloading) vessel is owned by Eni and operates in Block 15/06 offshore Angola. The FPSO has a storage capacity of 2 million barrels of oil and a processing capacity of 115,000 barrels of oil per day and 100 million standard cubic feet of gas per day. The target production for the Cameia field is around 80,000 barrels of oil per day

Posted by Bon888 > 2023-02-14 18:51 | Report Abuse

The industry charter rate for an 80,000 barrels FPSO (Floating Production Storage and Offloading) vessel can vary depending on a number of factors such as location, contract duration, project complexity, and market conditions. However, as of my knowledge cutoff date of September 2021, industry estimates suggested charter rates in the range of $80,000 to $150,000 per day for FPSOs with a production capacity of 80,000 barrels per day. It's important to note that these rates are subject to change and may vary based on the factors mentioned above. This is ChatGPT`s answer.

Posted by Macgyver11 > 2023-02-15 08:53 | Report Abuse

https://www.thestar.com.my/business/business-news/2023/02/15/more-ev-incentives-soon

Posted by Macgyver11 > 2023-02-15 08:54 | Report Abuse

https://www.cnbc.com/2023/02/13/twilio-layoffs-1500-employees-17percent-of-workforce.html

Posted by Macgyver11 > 2023-02-15 11:04 | Report Abuse

Message from IMF chief

https://www.livemint.com/news/world/world-economy-still-in-very-difficult-place-imf-chief-11676417840230.html

yes correct

now USA has pumped Usd6 trillion fiat money during Covid lock down

and as such there is high inflation in USA
many people cannot afford to pay house loan, car loan and credit card debt

so they scale back from spending

and then all businesses will be seeing less sales and profit will drop

and the share market will go down

if USA goes down the whole world will be dragged down

that is why we have to be very careful and defensive

Posted by Macgyver11 > 2023-02-15 11:29 | Report Abuse

Twilio is one of more than a dozen tech companies to announce layoffs in recent months.

Last week,
Dell
Zoom
eBay disclosed significant cuts to their workforce.

In January
Google - layoff 12,000 workers
Microsoft - layoff 10,000 employees

Salesforce - said it planned to lay off 7,000 workers.

And many more coming. Why this gigantic firms cut manpower?
Time to review back....

Invest wisely.

Posted by Bon888 > 2023-02-15 20:38 | Report Abuse

Eh Uncle! Today volume so low, just about 10 million shares traded. Value about 6 million. Dump apa? You should consider grab some this week. Next week it going to fly.

Posted by Bon888 > 2023-02-15 23:24 | Report Abuse

Perdana Petroleum just reported record profit since 2014. Now is a cyclically climax for Oil and Gas service industry. Just like Glove stocks and technology stocks during Covid period.

Uncle forget your syndicate and global oil price story, ride on the boat. This is once in a decade ride, don't miss the boat and don't forget to leave the boat at the right timing.

Posted by i3lurker > 2023-02-16 15:26 | Report Abuse

syndicate dumping today

Posted by i3lurker > 2023-02-16 16:05 | Report Abuse

syndicate dumping more today

Posted by Bon888 > 2023-02-16 18:45 | Report Abuse

This week let you win lah Uncle. Next week I will be posting syndicates pumping messages here.

Posted by Robert Waters > 2023-02-17 18:25 | Report Abuse

So we have global debt crisis leading to economic crash. Crude oil oversupply. Russian war destrying confidence of investors. Transition to green energy. Syndicate dumping in a pump and dump scheme.
Stock of BAB is stable. Seems like bad news already priced in. May be good time to buy more.

Posted by Macgyver11 > 2023-02-17 22:04 | Report Abuse

Priced in or not, don't gamble. Recession is approaching faster than we thought. Play safe.

Posted by i3lurker > 2023-02-17 22:21 | Report Abuse

June 2023 according to BFF Jaime
4 months to Armageddon
plus minus
minus plus

Posted by nikicheong > 2023-02-19 14:13 |

Post removed.Why?

Posted by nikicheong > 2023-02-19 14:13 |

Post removed.Why?

Posted by nikicheong > 2023-02-19 23:07 | Report Abuse

Lol why is my posting removed??

Posted by Robert Waters > 2023-02-19 23:52 | Report Abuse

Please repost Niki. Maybe someone wants only his messages to be here.

Posted by i3lurker > 2023-02-20 00:33 | Report Abuse

I think crude oil is oversold coz some say China take up is starting already.
the only constant in oil market is constant change.

If oil price goes up some JV profit sharing for Armada will see increased profits

Posted by i3lurker > 2023-02-20 02:29 | Report Abuse

Summary:
STRONG BUY

Moving Averages: STRONG BUY Buy (11) Sell (1)
Technical Indicators: STRONG BUY Buy (9) Sell (1)
RSI(14) 50.041 Neutral
STOCH(9,6) 66.667 Buy
STOCHRSI(14) 71.574 Buy
MACD(12,26) -0.001 Sell
ADX(14) 25.808 Buy
Williams %R -25.000 Buy
CCI(14) 70.5694 Buy
ATR(14) 0.0096 High Volatility
Highs/Lows(14) 0.0000 Buy
Ultimate Oscillator 58.922 Buy
ROC 1.709 Buy
Bull/Bear Power(13) 0.0020 Buy
Buy: 9 Sell: 1 Neutral: 1
Summary: STRONG BUY

Posted by Fieldbus > 2023-02-20 13:39 | Report Abuse

Niki repost.

Posted by nikicheong > 2023-02-20 16:56 | Report Abuse

Has anyone checked with Bumi Armada IR on the Q4 results release date?

By the way, the removed post was based on the Operational Update from Enquest, where they have deferred drilling at the Kraken field. Previously, it was due to occur in 2023. It is a less than ideal news, as the Kraken production is rapidly falling and Enquest needs to drill new wells or tieback the FPSO to adjacent fields to increase/maintain the production plateau. The firm period of the FPSO charter ends in 2026, and a lack of drilling is always worrisome on the long term viability of the FPSO. Although of course, if the drilling is merely deferred for a year, then there shouldn't be much of a problem. However, Enquest's plans for the Kraken field are now unclear as it has been years since a new well was drilled.

Posted by success2628 > 2023-02-21 07:38 | Report Abuse

Perdana Petroleum bags vessel charter contract from Petronas Carigali
theedgemarkets.com/
theedgemarkets.com
February 20, 2023 17:49 pm +08

https://pnews.theedgemarkets.com/node/655961

KUALA LUMPUR (Feb 20): Oil and gas offshore marine service provider Perdana Petroleum Bhd has bagged a RM7.96 million contract from Petronas Carigali Sdn Bhd to supply one unit of anchor handling tug and supply (AHTS) vessel.
In a filing with Bursa Malaysia on Monday (Feb 20), Perdana Petroleum said its wholly owned subsidiary Perdana Nautika Sdn Bhd has received a work order award from Petronas Carigali on Jan 27. Under the deal, Perdana Nautika will provide the AHTS vessel with crews and equipment.
"The contract, which will commence on the vessel's on-hire certificate date, estimated on March 1 is for a duration of up to 245 days, with an option to extend for up to 30 days," it added.

"The contract is expected to contribute positively to the group's earnings and net assets for the financial year ending Dec 31, 2023."
Perdana Petroleum shares closed unchanged at 18 sen on Monday, giving it a market capitalisation of RM399.44 million.

Posted by Bon888 > 2023-02-22 12:27 | Report Abuse

Armada price really impacted by the deffer of Kraken drilling decision. Let's see this QR result and determine the next action.

Posted by nikicheong > 2023-02-22 15:38 | Report Abuse

There is also possible delay to the Armada Sterling V, or delay in FID for the Cameia FPSO. Insiders might have this information and might be selling.