Posted by KimSua > 2023-06-21 10:47 | Report Abuse

Shorts active again yesterday ~2 mil, rested on monday. Should continue again today. Net short at 0.56%. Not over yet

Posted by nikicheong > 2023-06-21 10:51 | Report Abuse

This JV might be related to the CCS licenses awarded recently in the UK. Either the JV has secured a license, or they will be servicing companies that have secured a license.

https://www.oedigital.com/news/505199-uk-offers-20-offshore-carbon-storage-licenses-to-12-companies

Posted by xuxu > 2023-06-21 11:23 | Report Abuse

We can't stop ppl to sell low, but just accumulate at lower

Posted by i3Shark > 2023-06-21 11:40 | Report Abuse

accumulate kaw kaw, no miss the boat, anytime may up kaw kaw

Posted by Robert Waters > 2023-06-21 11:43 | Report Abuse

This guy 'Greedy Gary' who gave himself a few million shares in latest AGM should stop giving interviews about carbon capture projects and fix the transformer on the Kraken. No new business releases. Go to your office and start calling electrical warehouses.

If you cannot inject water into existing facility HSP, how can you plan to inject carbon a few years from now, not even having a system designed for it.

Go back to your room Gary, and look after existing business.

Posted by MM78 > 2023-06-21 11:57 | Report Abuse

Yes I agree with you Robert, Gary , the MD of Bumi Armada is showing poor leadership in this FPSO Kraken's transformer issue management for failing to keep investors updated on the progress of sorting out this issue weeks after the initial announcement. It appears Armada has no respects for the investors' need of clarity on what is going on in FPSO Kraken. Either Bumi Armada has very poor investor relationship management or deliberate holding back of information for some agendas?

Posted by sense maker > 2023-06-21 12:10 | Report Abuse

Gray is in UK lah, stay close with family, part-holidaying, get daily report on Kraken.

Posted by Hotstuff > 2023-06-21 12:42 |

Post removed.Why?

Posted by nikicheong > 2023-06-21 12:47 | Report Abuse

Masukkk!!!

Posted by nikicheong > 2023-06-21 12:48 | Report Abuse

Not sure if syok sendiri or not, but I sent an email to Bursa Malaysia on this matter yesterday.

Posted by nikicheong > 2023-06-21 12:54 | Report Abuse

3 more key announcements to be expected within the next 3-4 months:

1) Cameia FPSO ESPCC award (1 July - 31 July 2023)
2) Armada Kraken return to 100% production (1 July - 30 September 2023)
3) Armada Sterling V first oil (1 August - 31 October 2023)

Posted by nikicheong > 2023-06-21 13:01 | Report Abuse

My email:

Dear Sir/Madam,

I would like to lodge an official complaint against Bumi Armada Berhad for withholding material information from investors, particularly minority shareholders.

I make reference to the announcement titled "Unplanned Kraken Shut-in" dated 2 June 2023 made via Bursa Malaysia.

Here, the statement ended by saying "Further updates will be made from time to time when there are material developments".

I have it on good authority, from xxx, the xxx at Enquest, who operate the Kraken field, that the Armada Kraken FPSO resumed production last week Monday, 12th June 2023, and has been producing oil on a single train at roughly 50% capacity.

Is this not a Material development? Why has Bumi Armada Berhad not issued a further update on the same to Bursa Malaysia? Minority shareholders are disadvantaged, as insiders would have known well in advance that production had resumed in some capacity.

Appreciate if Bursa Malaysia investigates this matter further and enforce transparency in matters such as this.

Thank you!

Posted by nikicheong > 2023-06-21 13:02 | Report Abuse

Bursa Malaysia subsequently reverted and asked for documentary proof, which I duly provided and they acknowledged receipt of today morning.

Posted by nikicheong > 2023-06-21 13:03 | Report Abuse

All those who've bought in low at under RM0.45, rejoice. We're unlikely to came back down to these levels, perhaps ever.

Posted by estk > 2023-06-21 13:12 | Report Abuse

Well done Niki!

Posted by Felix888 > 2023-06-21 13:15 |

Post removed.Why?

Posted by kiew3608 > 2023-06-21 13:22 | Report Abuse

Good Job Nick. Appreciated

Posted by skyinvestor > 2023-06-21 13:25 | Report Abuse

Reference is made to the announcement made by Bumi Armada Berhad ("Bumi Armada") on 2 June 2023 with respect to the unplanned shutdown of the Armada Kraken FPSO ("Kraken FPSO") owned by Bumi Armada’s wholly owned subsidiary, Armada Kraken Pte Ltd.



Bumi Armada wishes to announce that following the recent start-up of the Kraken FPSO, production is currently circa 60% of pre shutdown levels. There is still further work, testing and investigations ongoing to stabilise and bring the vessel operational performance back to pre shutdown level.



Bumi Armada will continue to announce material updates as and when they are known.



This announcement is dated 21 June 2023.

Posted by skyinvestor > 2023-06-21 13:26 | Report Abuse

finally, the announcement is made officially. congrats to those who bought the dip this morning

Posted by kaipeng911 > 2023-06-21 13:27 | Report Abuse

GOOD JOB, NIKI。APPRECIATE FOR YOU DONE。

Posted by Robert Waters > 2023-06-21 13:28 | Report Abuse

What an insult it was by the BAB management to tell us about carbon capture while ignoring the pressing issue being discussed for weeks. Interesting what the market reaction should be.

Posted by BILLC > 2023-06-21 13:33 | Report Abuse

Better sell on new for such an unethical company,,,,soon retailers monies will all gone into mulut buayaaaa ananconda,,,

Posted by alenac > 2023-06-21 13:34 | Report Abuse

Looks like BA is still trying to resolve the problem "further work, testing and investigations ongoing to stabilise and bring the vessel operational performance back to pre shutdown level." So it is still ongoing trouble shooting.

Posted by Max2838 > 2023-06-21 13:35 | Report Abuse

Kraken now running at 60% after 3 weeks. Another 2 weeks can expect to be back to normal?
CGS-CIMB & HLB estimated 6 months downtime in their reports....shot themselves in the foot again?

Posted by nikicheong > 2023-06-21 13:37 | Report Abuse

@alenac, obviously. A step in the right direction nonetheless, and far from the doom and gloom we once thought we were in when the field was fully shut-in.

They need to investigate and understand the root cause of multiple transformers failing, and they will also need to replace the failed transformers. Only then we can go back to 100%. After speaking with multiple people within the industry, I'm confident this can be achieved within the next 2 to 3 months.

Posted by kiew3608 > 2023-06-21 13:38 | Report Abuse

What a relief. Share price should gain momentum in coming days and weeks.

Posted by ValueInvestor888 > 2023-06-21 13:43 | Report Abuse

price will shoot up after mkt open due to good news of Kraken?

Posted by KML889 > 2023-06-21 13:47 | Report Abuse

My Oh My BA. Just when I needed you most.

Posted by Jerichomy > 2023-06-21 13:55 | Report Abuse

Haga

Posted by Jerichomy > 2023-06-21 13:56 |

Post removed.Why?

Posted by Hotstuff > 2023-06-21 14:00 | Report Abuse

due to coming election buying interest is still low. but it is a golden opportunity to accumulate at such low price.

Posted by ValueInvestor888 > 2023-06-21 14:10 | Report Abuse

armada is a good growth stock which is not easy to find in KLSE. Hope they don't screw up things again...Business is expanding fast. The main risk is mgt not so good...

Posted by xuxu > 2023-06-21 14:24 | Report Abuse

as I said, we can't stop ppl for selling, we only can queue low to accumulate

Posted by shiji93 > 2023-06-21 14:25 | Report Abuse

Just checking, is BA linked with any political person?

Posted by ValueInvestor888 > 2023-06-21 14:29 | Report Abuse

as expected, people chasing up...expect to open at 46.5 or higher

Posted by MichelleNg > 2023-06-21 14:33 | Report Abuse

Wao...business resume.... But still got people selling below 50cents

Posted by Rwan88 > 2023-06-21 14:39 | Report Abuse

Look like closing 0.52 today. Jump back to 0.62 next week maybe

Posted by MM78 > 2023-06-21 14:43 | Report Abuse

Well done Niki and SSlee also. Thanks for your letter to Bursa on this matter.

Posted by hng33 > 2023-06-21 14:45 | Report Abuse

bought at 47.5sen

Posted by hng33 > 2023-06-21 14:45 | Report Abuse

60% recovery in production volume is commendable

Posted by rr88 > 2023-06-21 14:45 | Report Abuse

Clear cut buy.
Production at 60%.
The next 2 weeks at 80%.
The following 2 weeks back to 100%.
Price will go back to 0.60 - 0.63.

Posted by MichelleNg > 2023-06-21 14:46 | Report Abuse

Power after lunch. Engine start...

Posted by hng33 > 2023-06-21 14:48 | Report Abuse

With such speedy repair and resume production, the impact on profit is minimum now and extra cost can well cover back by recent monetize disposal proceed from Claire

Posted by Russel > 2023-06-21 14:48 | Report Abuse

The Pen was mighty than a sword, Niki make a lot of people rich today!

Posted by Zhuge_Liang > 2023-06-21 14:49 |

Post removed.Why?

Posted by Felix888 > 2023-06-21 14:54 | Report Abuse

I3lurker, SsLee kaching! Kaching! Kaching!

Fly me to the moon
Let me play among the stars
Let me see what spring is like on a-Jupiter and Mars!

Posted by Zhuge_Liang > 2023-06-21 14:55 |

Post removed.Why?

Posted by Felix888 > 2023-06-21 14:58 | Report Abuse

Shameless liar is OTB's mantra. Wifi level statement 😎

Posted by pinetree88 > 2023-06-21 14:59 | Report Abuse

Got in Bumi 0.48 today. Looks formed a good support at 0.42-43 level.

Posted by success2628 > 2023-06-21 15:00 |

Post removed.Why?