Posted by Robert Waters > 2023-08-01 23:58 | Report Abuse

I read the anouncement from Indonesian Ministry of Energy that Niki Chong provided.
What Bumi Armada won is the right to carry out seismic testing. (Tender 1).
Other tenders (2 and 3) involved exploratory wells.
__________________________________________________________
1.
Akia
Fleet Consortium Etan Limited &
Pexco Tarakan NV
Study G&G;
Acquisition and reprocessing of 750 km2 3D seismic data

Posted by Felix888 > 2023-08-02 00:12 | Report Abuse

Just USD 7.7 million contract work lah. Aiyah this routers news misleading lah.

Posted by Felix888 > 2023-08-02 00:12 | Report Abuse

This small contract no need to make announcement 🤐

Posted by i3lurker > 2023-08-02 00:32 | Report Abuse

The consortium Armada Etan Ltd. and Pexco Tarakan NV came out victorious as the winners of this year's first oil and gas block for the Akia block located in Offshore North Kalimantan. The Akia block has potential reserves of 2 billion barrels of oil (BBO) and 9 trillion cubic feet (TCF) of gas. The Akia block will be managed using a cost recovery contract scheme, with a signature bonus of US$500,000 and total commitment of $7.7 million.

This article was published in thejakartapost.com with the title "IPA Convex 2023 concludes, shows optimistic future for oil and gas industry". Click to read: https://www.thejakartapost.com/front-row/2023/07/31/ipa-convex-2023-concludes-shows-optimistic-future-for-oil-and-gas-industry.html.

Posted by apple4ver > 2023-08-02 00:47 | Report Abuse

Take note that this Akia block is still at the very early stage of Geological and Geophysical study. How far away from first oil/gas? One example; 3DS, an associate of Hibiscus was awarded T/49P block in Tasmania back in 2012. Today, 11 years later they are at the stage of exploration wells. Even if the reserve are proven viable, there are still FEED studies, then FIT and actual EPCC before getting the first oil. Be aware however that one example can hardly be representative of the O&G exploration industry. And probable reserve is not comparable with proven reserve as the case of Sapura OMG.

Posted by KML889 > 2023-08-02 04:52 | Report Abuse

My oh my. APi Crude draw of 15.4 million. King of All Bulls

Posted by KML889 > 2023-08-02 05:31 | Report Abuse

Where is my 1st oil from Armada Sterling 5. It's about time deployed since December last year

Posted by KML889 > 2023-08-02 05:33 | Report Abuse

Come on Bursa, give me the rallies
in oil & gas theme. It's long overdue

Posted by limitupandsurewin88 > 2023-08-02 08:47 | Report Abuse

Walaoeh, oil price spike up like mad !
Brent closed at $85.78 +0.87 +1.02%

Like that today Armada going to break above 60 cents liao !

Posted by armadatuah2017 > 2023-08-02 10:30 | Report Abuse

Hitting overbought line soon...Boss will never let BA rockets, it will take sweet time to reward shareholders.....

Posted by RayLee > 2023-08-02 10:30 | Report Abuse

No hurry, wait Armada break 55 cents 1st

Posted by jasongks > 2023-08-02 12:34 | Report Abuse

Wah ! this 55 resistant line is so difficult to break. real test of perseverance

Posted by DukeEmber > 2023-08-02 15:42 | Report Abuse

〈◕﹏◕〉

Posted by armadatuah2017 > 2023-08-02 16:19 | Report Abuse

Please dispose more at 0.530, we need more before pushing up....insufficient collected. shorting of 20million more

Posted by i3lurker > 2023-08-02 16:24 | Report Abuse

agree
dump it down to 28 sen will be good and will happen

Posted by armadatuah2017 > 3 minutes ago | Report Abuse

Please dispose more at 0.530, we need more before pushing up....insufficient collected. shorting of 20million more

Posted by nikicheong > 2023-08-02 20:45 | Report Abuse

A consortium comprising Netherlands-registered Pexco Energy and Malaysian Bumi Armada’s 100%-held subsidiary Armada Etan has been awarded the Akia block, which the Ministry of Energy & Mineral Resources (ESDM) earlier touted as having world-class hydrocarbon potential.

Akia, which is located off the coast of North Kalimantan, has an estimated resource of 2 billion barrels of oil and 9 trillion cubic feet of gas.

The block is contiguous to several contract areas (CAs) that have proven hydrocarbon potential such as Tarakan, Bunyu and Nunukan.

The joint venture’s minimum commitment work programme during the initial three-year exploration term comprises three geological and geophysical (G&G) studies, and the acquisition and processing of 750 square kilometres of 3D seismic data.

The total minimum exploration spend is pegged at $7.7 million and the duo paid a $500,000 signature bonus to secure the Akia asset.

Posted by Felix888 > 2023-08-02 21:05 |

Post removed.Why?

Posted by Felix888 > 2023-08-02 21:13 |

Post removed.Why?

Posted by nikicheong > 2023-08-02 22:11 | Report Abuse

Felix I think you've jumped the gun. Any returns from this will likely be seen 5, 10, 15 years down the road. And maybe never.

Posted by Felix888 > 2023-08-02 22:20 | Report Abuse

I look at the 2 billions oil reserve and 9 trillion cubic feets of gas.. I can't stop myself to put in the bet now. Remember Najib said Sapura OMV, owned oil and gas reserves of 264 million barrels with a gross value of RM110.8 billion. Just 264 million barrels already worth RM 110.8 billion. This one 2 billion barrels. My air liur meleleh already.

It`s OK the price still very low now. Without this award the price also going up for sure. No harm, no worries.

Posted by KML889 > 2023-08-03 04:15 | Report Abuse

Too far until cannot see the horizon. Please give me my 1st oil from Armada Sterling 5 first

Posted by KML889 > 2023-08-03 04:18 | Report Abuse

Deployed in December last year, sangkut for a month or so entangled with fish net.

Posted by armadatuah2017 > 2023-08-03 08:44 | Report Abuse

Bo show, poor market sentiment today... Darn...

Posted by KML889 > 2023-08-03 08:55 | Report Abuse

Typical sick bursa. Orang naik, dia turun. Orang turun , dia lagi turun.

Posted by CyrusQ > 2023-08-03 09:18 | Report Abuse

KML889

Typical sick bursa. Orang naik, dia turun. Orang turun , dia lagi turun.

# Doesn't affect him , no matter up or down he still making money haha. Bursa = Dealer

Posted by CyrusQ > 2023-08-03 09:20 | Report Abuse

Why so angry not like BA falling to 30 cent haha or 10 cent

Posted by nikicheong > 2023-08-03 10:15 | Report Abuse

Armada Sterling V first oil has seen numerous delays. The most updated timeline we have is the August – October 2023 period from the Chairman during the ONGC investor meet at the end of June 2023. He said August 2023 if the weather is good, or October 2023 if the weather is bad.

So the first oil could be due anytime in these coming 3 months, though I would not be surprised of further delays going into 2024 even. The way things work there in India can always be rather “magical”.

Posted by RayLee > 2023-08-03 11:27 | Report Abuse

Just a rough estimation, its Q2 result will be underperformed but Q3 > Q2

Posted by armadatuah2017 > 2023-08-03 12:18 | Report Abuse

6 months of wait can give you like 40% investment return, why not. safe investment...ride along the tide.

Posted by KML889 > 2023-08-03 12:32 | Report Abuse

But Armada Sterling 5 is designed for bad weather of up until 27m height of wave and and storms

Posted by KML889 > 2023-08-03 12:37 | Report Abuse

Not angry with BA nor with Bursa, CyrusQ. It's just rather hard to make money with BA unless your cost is at 20 cents or so la. Any recent entries ones all in the red

Posted by kaipeng911 > 2023-08-03 12:41 | Report Abuse

This company strangles investors and has information that is hidden from them.

Posted by sheep > 2023-08-03 14:51 | Report Abuse

Q2 would be under perform very bad...loses think about it ...wakaka

Posted by nikicheong > 2023-08-03 15:30 | Report Abuse

My friends, patience is a virtue.

Posted by Robert Waters > 2023-08-03 15:52 | Report Abuse

For armada investors, being tolerant of pain, disappointment and delay is necessary.
Then there are rewards long term.
Greedy Gary (CEO) is buying or loading up on free / discounted shares.
That is a good sign.

Posted by mtkuljoe > 2023-08-03 16:26 | Report Abuse

Ini myni more

Posted by KML889 > 2023-08-03 16:35 | Report Abuse

Hopefully in the long run, I mean 3 years from now we will see clean slate of Balance Sheet which will then match Yinson's market capitalization if not better. This is based on the speed BA pared down their debts

Posted by KML889 > 2023-08-03 19:24 | Report Abuse

BA took one month to ramp up 60 percent to 90 percent. Not sure how much longer from 90 to 100% capacity. Already 14 days lapsed since the last announcement

Posted by Felix888 > 2023-08-03 19:33 | Report Abuse

Armada IR has not responded to my email. 😡

Posted by KML889 > 2023-08-03 20:39 | Report Abuse

Thanks Felix888 for the follow-up.

Posted by KML889 > 2023-08-03 20:41 | Report Abuse

Are 2 HSP transformers enough to restore back to full production or BA needs another one, Total 3 HSP transformers

Posted by KML889 > 2023-08-03 20:44 | Report Abuse

Go and pinjam one from Yinson la. Closer ma. Besides, help Malaysian 1st ma

Posted by KML889 > 2023-08-03 20:59 | Report Abuse

Don't understand the purpose of Altera wave set sail for Kraken. Offload from AK to crude tanker for onshore discharge?? Good news or quick turnaround from AK

Posted by KML889 > 2023-08-03 21:00 | Report Abuse

Already full capacity production?? Need Sifu here to enlighten all of us. Thanks

Posted by Felix888 > 2023-08-03 23:04 |

Post removed.Why?

Posted by CT888 > 2023-08-04 09:37 | Report Abuse

Armada kraken another recon pump motor transformer is otw.
Next week will go 100% capacity.
Why sell now. Wait for announcemt next week for better price!

Posted by KML889 > 2023-08-04 09:41 | Report Abuse

Great news indeed, CT888

Posted by KML889 > 2023-08-04 09:42 | Report Abuse

It's about time

Posted by KML889 > 2023-08-04 09:43 | Report Abuse

BA price actions is still lagging. Let's see

Posted by Alex Chua > 2023-08-04 11:14 | Report Abuse

CT888 how u got the insider info?