Posted by nikicheong > 2023-06-05 21:49 | Report Abuse

According to the Waldorf Productions CFO, the failure began on 20th May 2023. This means during the AGM, senior management was already aware of a serious issue at the Kraken field yet failed to appraise shareholders of what was happening.

That is rather dishonest and downright poor corporate governance. Insiders already knew hence the drop in the share price from on 24th May (from 67 sen to a low of 63 sen). I reckon it would've become clear by 23rd May (evening UK time) that the field would have to be shut-in after an attempt to restart the facility failed, hence the heavy selling the next day.

Posted by shocklim > 2023-06-05 22:13 | Report Abuse

If the event happened on 23 May, then it has been 2 weeks since then.
Shouldn't BAB mgt know by now roughly how long and at what cost will be the shutdown/repair.

Rather than allowing CIMB to assume 6 mth downtime and at a cost of USD50 million repair.

Come on BAB - PLS be more transparent for the sake of yr shareholders

Posted by RISK8888 > 2023-06-05 22:19 | Report Abuse

So how?

Posted by RISK8888 > 2023-06-05 22:21 | Report Abuse

What is action for tomorrow?

Posted by vespa > 2023-06-05 22:38 | Report Abuse

got wind of it on Advnfn site re Enquest on the 30th but thought it fake as neither Enquest nor Aramada flagged it

Posted by nikicheong > 2023-06-05 22:41 | Report Abuse

@shocklim

The incident happened on 20th May 2023, this much is confirmed by the CFO of Waldorf Production, which hold a 29.5% stake in the Kraken field.

I am extrapolating (based on the share movement pattern) that by the evening of the 23rd of May 2023, it had become clear that the field had to be shut-in following a failed restart procedure.

Posted by RISK8888 > 2023-06-05 22:42 | Report Abuse

Means?

Posted by RISK8888 > 2023-06-05 22:48 | Report Abuse

Wait and see?

Posted by RISK8888 > 2023-06-05 23:23 | Report Abuse

So apa macam?

Posted by Bon888 > 2023-06-05 23:25 | Report Abuse

Short term investors - sell trmw.
Long term investors - this is once a bluemoon opportunity...Buy.

Posted by vespa > 2023-06-06 00:29 | Report Abuse

That 6 month downtime appears to have some legs as it is also on advnfn on Enquest chat or it could be a rumour doing the rounds

Posted by Robert Waters > 2023-06-06 02:07 | Report Abuse

So, the Kraken will be restarted this week. Workaround in place. No change to anual production guidance for FPSO.

I have a feeling that this 'Greedy Gary' tried to create some panic selling. This guy has no decency in his money apetite while disregarding all others on the team. Even 1.5 million extra per year (resolution 8) is not enough.

Posted by RISK8888 > 2023-06-06 08:00 | Report Abuse

Why enquest did not mention any performance impact regard to kraken during last night AGM ? Kraken cover almost 40% of its annual output. If the issue really significant I’m sure they will revise their projection forecast. Why???

Posted by Albert Lee > 2023-06-06 08:33 | Report Abuse

https://www.facebook.com/groups/389267295573357/permalink/1000850574415023/?mibextid=W9rl1R

Posted by nikicheong > 2023-06-06 08:59 | Report Abuse

Bloodbath incoming

Posted by Nepo > 2023-06-06 08:59 | Report Abuse

let see the deep impact...cry

Posted by nikicheong > 2023-06-06 09:03 | Report Abuse

I've not sold, but it's a shit-show alright.

Posted by Bon888 > 2023-06-06 09:04 | Report Abuse

Deep impact hahaha.

Posted by Gabriel Khoo > 2023-06-06 09:07 | Report Abuse

2260lots here. Damn cool

Posted by nicholas99 > 2023-06-06 09:10 | Report Abuse

armada is strong and solid counter.

Posted by jonathanlum > 2023-06-06 09:13 | Report Abuse

what happen...why drop so much?

Posted by SHOB > 2023-06-06 09:13 | Report Abuse

monitor

Posted by itch > 2023-06-06 09:15 | Report Abuse

Longer term investors...buying opportunity?

Posted by nikicheong > 2023-06-06 09:15 | Report Abuse

Can buy but not without its risks. Really depends on the severity of the Kraken issue (which for now, is rather unclear).

Posted by Bon888 > 2023-06-06 09:16 | Report Abuse

Let it flow naturally. Problem to be fixed

Posted by Nepo > 2023-06-06 09:17 | Report Abuse

Bought @ RM0.50 yummy

Posted by success2628 > 2023-06-06 09:17 |

Post removed.Why?

Posted by KimSua > 2023-06-06 09:17 | Report Abuse

Can collect back at 0.40

Posted by Nepo > 2023-06-06 09:18 | Report Abuse

hurry, chance in your lifetime..

Posted by Mabel > 2023-06-06 09:21 | Report Abuse

Waiting at 49.5 and 49 sen..

Meow

Posted by nicholas99 > 2023-06-06 09:22 | Report Abuse

Let it flow let it flow..

Posted by speakup > 2023-06-06 09:23 | Report Abuse

ADUH!

Posted by nicholas99 > 2023-06-06 09:25 | Report Abuse

good stock won't stay down for long.

Posted by donnybelowski > 2023-06-06 09:30 | Report Abuse

This will not end well. Herd of sheep on the edge of cliff. Good luck.

Posted by LubeTrader > 2023-06-06 09:31 | Report Abuse

Queuing @ 35

Posted by Bon888 > 2023-06-06 09:33 | Report Abuse

Mabel you missed the boat.
It will close above 0.50 today
Posted by Mabel > 11 minutes ago | Report Abuse

Waiting at 49.5 and 49 sen..

Meow

Posted by Mabel > 2023-06-06 09:36 | Report Abuse

Bon888 Mabel you missed the boat.
It will close above 0.50 today
Posted by Mabel > 11 minutes ago | Report Abuse

Waiting at 49.5 and 49 sen..

Meow

---------
No issues Bon888

Will wait patiently...

Meow

Posted by Sslee > 2023-06-06 09:39 | Report Abuse

Borrow a phase from i3lurker:

kaching !!!
another round buy sell done

again.
thanks for your money contribution

Posted by newbiee2000 > 2023-06-06 09:39 | Report Abuse

ggwp

Posted by newbiee2000 > 2023-06-06 09:40 | Report Abuse

buy or sell

Posted by super aloha > 2023-06-06 09:47 | Report Abuse

nice to grab some at 0.50... good time for those long investment.

Posted by sense maker > 2023-06-06 09:49 | Report Abuse

No insurance for loss of income?

Posted by 1pingpong > 2023-06-06 09:50 | Report Abuse

its not the first time Armada Gap down. After Gap down...will down a bit more to build a new low base.

Posted by ajaaja > 2023-06-06 09:55 | Report Abuse

buy buy buy ...

Posted by nikicheong > 2023-06-06 09:55 | Report Abuse

UOB downgraded to SELL from RM0.75 > RM0.50.

Posted by Nickhii90 > 2023-06-06 10:07 | Report Abuse

wait at 0.4

Posted by Nickhii90 > 2023-06-06 10:07 | Report Abuse

wait at 0.4

Posted by KimSua > 2023-06-06 10:08 | Report Abuse

impact 35% of revenue and 50 million repair cost

Posted by EatCoconutCanWin > 2023-06-06 10:08 | Report Abuse

Foreign investor from Singapore selling heavy. Malaysia market one by one being dump by Singapore investors.

Posted by MichelleNg > 2023-06-06 10:14 | Report Abuse

Why no limit down??? I queue limit down price but not yet match