Posted by Jerichomy > 2023-03-31 12:37 |

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Posted by nikicheong > 2023-03-31 13:58 | Report Abuse

According to UpstreamOnline, a sale agreement has been reached (but not completed) for Armada Claire.

That's good news, this chapter is finally nearly closed. I wonder what price Bumi Armada manages to fetch, anything above USD20mil will be a bonus.

Posted by nikicheong > 2023-03-31 14:03 | Report Abuse

https://www.upstreamonline.com/exclusive/plans-afoot-for-ageing-fpsos-under-new-ownership/2-1-1427618

Posted by Jerichomy > 2023-03-31 14:47 |

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Posted by Zhuge_Liang > 2023-03-31 14:54 |

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Posted by TanDavid88 > 2023-03-31 14:56 |

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Posted by Jerichomy > 2023-03-31 15:00 |

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Posted by Jerichomy > 2023-03-31 15:54 | Report Abuse

I am telling the truth

Posted by Bon888 > 2023-03-31 16:47 | Report Abuse

Come Armada forum fight about Hengyuan and Hiapteck grandmother story.

Adui sakit kepala!

Posted by Robert Waters > 2023-03-31 17:16 | Report Abuse

This is fantastic news. I was getting tired of hearing about Armada Claire status and legal case...

The fate of two ageing floating production, storage and offloading vessels that have not operated for some time is becoming clearer as fresh assignments loom under new owners and the number of units available for redeployment dwindles.
The two vessels in question are the BW Opportunity FPSO, and the Armada Claire FPSO.

Posted by Bon888 > 2023-03-31 17:39 | Report Abuse

If this Armada Claire able to find a new owner, this will be a great great news. Huge impairment write back !!!

Posted by Robert Waters > 2023-03-31 17:44 | Report Abuse

It goes to Europe for conversion. Then to be resold.
Bumi options:
As for the Armada Claire FPSO, its Malaysian owner Bumi Armada has been seeking a buyer or a redeployment opportunity for some time. Bumi said last month in its annual financial results that it was engaging with potential buyers of the vessel, and numerous vessel inspections had been carried out.
Malaysian floater player pins down strategy for African FPSO. Market sources have told Upstream that a sale agreement has been reached — but not yet completed —with a European shipowner that has designs on redeploying, or re-selling, the FPSO to another party.
A spokesperson for Bumi said the company was unable to comment on the Armada Claire at this moment in time.

The Armada Claire, which is understood to be currently moored in Indonesia, was converted into an FPSO by Keppel Shipyard in 2013 from a 1993-built tanker.
The vessel has an oil production capacity of 30,000 barrels per day and a storage capacity of 800,000 bpd.
It has worked on just one project - the Balnaves oilfield off Western Australia - which ended prematurely in 2016 when Woodside terminated the FPSO's contract.

Posted by Bon888 > 2023-03-31 17:48 | Report Abuse

This Armada Claire if able to sell off and add one new Camaie FPSO contract, Ananda Krishna could be back to number 2 richest man in Malaysia.

Posted by Robert Waters > 2023-03-31 19:44 | Report Abuse

Note that once Armada Sterling V starts producing next month, start up expenses will be replaced with the lease revenues. Financials will improve ...

Posted by Jerichomy > 2023-04-02 01:35 |

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Posted by Jerichomy > 2023-04-02 01:40 |

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Posted by Jerichomy > 2023-04-02 01:50 |

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Posted by TanDavid88 > 2023-04-02 12:33 | Report Abuse

HLG recommended this stock with the target price of 0.87.
Anyone can post anything in I3, blame yourself if you lose money.
No one pointing a gun at the head to force you to buy.

Posted by BobAxelrod33 > 2023-04-02 12:36 | Report Abuse

Walao.....follow other's smelly backside and recommend on Telegram for subscriptions and then telling people the decision and if lose money is YOURS??

Where in the world can making monthly collection be easier????

Posted by Zhuge_Liang > 2023-04-02 12:44 | Report Abuse

Cannot afford to lose, do not invest in the stock market.
No sifu can guarantee you to make money all the times.
I will pay a subscription fee of 1 million if any sifu can guarantee sure make money on this recommendation.
Be a adult, not a small kid here.
Be practical if you want to invest in the stock market.
Some stock you lose, some stock you win.
Very important, overall the net result is profit.

Posted by Jerichomy > 2023-04-02 12:45 |

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Posted by BobAxelrod33 > 2023-04-02 12:46 | Report Abuse

1 million Ringgit or Hell Notes?...if Ringgit, I Guarantee sure win.

Posted by Zhuge_Liang > 2023-04-02 12:48 | Report Abuse

The fair price of Armada is around 0.80 to 1.00.
Please short this stock if the share price of Armada can drop very low.
Do us a favour, we still want to buy Armada cheap.
Please short more !!
No money how to short Armada !!

Posted by Zhuge_Liang > 2023-04-02 12:50 | Report Abuse

Not one million ringgit, 10 million I still can afford.
Do not talk cxxk story here.

Posted by BobAxelrod33 > 2023-04-02 12:50 | Report Abuse

Now, he's using Ruppiah......LOL!


Posted by Zhuge_Liang > 15 seconds ago | Report Abuse

Not one million ringgit, 10 million I still can afford.
Do not talk cxxk story here.

Posted by Zhuge_Liang > 2023-04-02 13:05 | Report Abuse

Lost money in KLSE until Ah Loong chased after him.
The best alternate way is to run road to Australia to hide.
Of course this person does not have 1 million ringgit.
Even 1 million Ruppiah also does not have.
What you expect a person who owed Ah Loong money and need to run road to Australia to hide ?

Posted by BobAxelrod33 > 2023-04-02 13:18 |

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Posted by BobAxelrod33 > 2023-04-02 13:27 | Report Abuse

Every time same old stories of running away to Oz.....you don't have any more better fantasy stories to slander??? Is running away means to a Business PR, buy waterfront property and a Yacht, some off road vehicles and some farms for passive income.

Last time invited you to come for a visit also you could not afford the air fare.....LOL!

Posted by Zhuge_Liang > 2023-04-02 13:57 |

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Posted by Zhuge_Liang > 2023-04-02 14:27 | Report Abuse

An educated person will not want to fight in this forum all the time.
We had avoided him in I3, any posting done by him, we will not want to post anything there.
We have been silence in I3 for sometime, we do not want to waste our time on this type of unnecessary quarrels.
We know the rule dictated by our sifu, we will not want to attack anyone in I3.
We will just defend ourselves.

Posted by Jerichomy > 2023-04-02 15:30 |

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Posted by OTB > 2023-04-02 15:48 |

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Posted by Robert Waters > 2023-04-02 23:29 | Report Abuse

At 79.94 USD per barrel, how long before we reach 80 usd.... See below ....
OPEC+ has unexpectedly announced an oil production reduction of over 1 million barrels per day, limiting output from May. Saudi Arabia spearheaded the cartel's efforts by committing to a 500,000-barrel reduction of its own production.
According to the Saudi Press Agency, a Ministry of Energy official stated the Kingdom of Saudi Arabia will "implement a voluntary cut of 500 thousand barrels per day from May till the end of 2023."
The cut will be in coordination with other OPEC and non-OPEC participating countries in the declaration of cooperation, the state-run media outlet continued.

Posted by paktua73 > 2023-04-03 09:32 |

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Posted by nikicheong > 2023-04-03 10:03 | Report Abuse

I wonder what the deal is today, it opened gap up +5%. Surely we are long due a positive announcement from Bumi Armada on Bursa Malaysia.

Posted by alenac > 2023-04-03 10:43 | Report Abuse

Arabs lowering production by 1 mill barrels a day. You guys should watch CNA. Arabs aiming to move the crude price to USD 100 plus. Right timing for Armada to move beyond 70 sen.

Posted by Bon888 > 2023-04-03 11:25 | Report Abuse

alenac, paktua:

If Brent oil able to break USD 100, this 70 sen target is too low. You should aim at least 90 sen.

Posted by Bon888 > 2023-04-03 11:59 | Report Abuse

Anyway congratulations! Nice gap up!

Posted by MM78 > 2023-04-03 13:14 | Report Abuse

Long overdue Armada rally !

Posted by MM78 > 2023-04-03 13:15 | Report Abuse

Look forward for it to go beyond 80 sens soon

Posted by Jerichomy > 2023-04-03 14:52 |

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Posted by serpent100 > 2023-04-03 15:00 | Report Abuse

Pagi naik ptg mesti drop back

Posted by Jerichomy > 2023-04-03 17:36 |

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Posted by Robert Waters > 2023-04-04 03:29 | Report Abuse

MM78, with oil at 84 USD I expect BAB to reach 85 sens soon.
:-)
Posted by MM78 > 14 hours ago | Report Abuse

Look forward for it to go beyond 80 sens soon

Posted by success2628 > 2023-04-04 07:11 |

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Posted by KimSua > 2023-04-04 07:32 | Report Abuse

unexpected cut by OPEC, still going on strong for BAB. Opec cut it because China is not buying as much as expected. What is expected earlier is china will recovered by extra 1 mil bpd. This is not happening and opec reacted. Did not expect OPEC to cut so soon. Still very volatile. Good luck all !

Posted by success2628 > 2023-04-04 07:58 | Report Abuse

Oil prices surge after OPEC’s surprise output cuts

https://www.aljazeera.com/amp/economy/2023/4/3/oil-prices-surge-after-opecs-surprise-output-cuts

Price jump comes after news oil producers will slash output by about 1.16 million barrels per day.

Oil prices have surged after Saudi Arabia and other OPEC+ producers announced a surprise round of output cuts, a potentially ominous sign for global inflation just days after a slowdown in US price data had boosted market optimism.
Brent oil futures jumped $4.30 to $84.19 a barrel on news output would be cut by about 1.16 million barrels per day, while US crude climbed $4.17 to $79.84.
The change comes before a virtual meeting of an OPEC+ ministerial panel, which includes Saudi Arabia and Russia.

Posted by paktua73 > 2023-04-04 13:27 |

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Posted by nikicheong > 2023-04-04 14:59 | Report Abuse

Just an update, Pharos Energy had their investor meet recently, it was confirmed that the charter extension for the Armada TGT FPSO was secured until the end of 2026 (at similar rates to the current official extension to the end of 2024). The field operators are looking to get a license extension from 2026 to 2031, and thus the lease of the FPSO could be extended all the way to 2031 (at re-negotiated rates). My understanding is that the extension to 2026 was secured, and the potential extension to 2031 would be negotiated separately at some point in time in the future.

Posted by nikicheong > 2023-04-04 16:48 | Report Abuse

Something ought to be brewing...