Posted by MM78 > 2023-09-23 15:25 | Report Abuse

# Rohan, yes, it is still good to pay down the debt as much and wait till the accumulated losses of owner equity are eliminated. Reducing the debt is equivalent to growing the company' net profitability through the interest costs savings and reduce impacts of interest rate changes. Psychologically the market perhaps needs a boost for a " maiden " dividend from Armada, since the last one in 2015.

Posted by CHLEONG888 > 2023-09-23 16:08 | Report Abuse

Can hold or not? Why so difficult to cross 0.60?

Posted by Penarak > 2023-09-23 19:20 | Report Abuse

https://oilprice.com/Latest-Energy-News/World-News/JPMorgan-Analyst-Sees-Energy-Supercycle-With-Oil-As-High-As-150.html

Posted by hng33 > 2023-09-25 12:07 | Report Abuse

bought back at 55.5sen

Posted by RayLee > 2023-09-25 13:45 | Report Abuse

It will break 60 cents, so be patient

https://www.ft.com/content/2ecc94a5-a5fd-415c-8753-0cafeff6acbc#post-0f3ee01b-b170-4379-978c-b011f25caafd

Posted by RISK8888 > 2023-09-25 14:05 | Report Abuse

queuing at 0.535. there is a chance to get.

Posted by Ediee Tan > 2023-09-25 15:14 | Report Abuse

slow2 collect

Posted by nikicheong > 2023-09-25 17:30 | Report Abuse

Bumi Armada Berhad (“Bumi Armada”), wishes to announce that its wholly owned subsidiary Armada Akia B.V (“AABV”) (as Operator with 51% participating interest) and its co-bidder, Pexco Tarakan NV (“Pexco”) (with 49% participating interest), have signed a Production Sharing Contract with the Ministry of Energy and Mineral Resources of Indonesia for the Akia PSC in the Tarakan Basin, North Kalimantan Province ("PSC").

The Akia PSC covers an area of 8,394 square kilometers and contains the Aster and Tulip oil and gas discoveries. The Tulip discovery has an estimated recoverable resource of 860 BCF of gas and 60 MMboe of oil and condensate. Plans are to acquire new 3D seismic over the Tulip discovery to evaluate the potential for a fast-track development. The water depth at the Tulip discovery is 800m and Bumi Armada would provide and operate an FPSO and an FLNG or gas pipeline for the development. This leverages Bumi Armada’s core expertise of providing and operating floating production systems.

The Pexco Group is an independent upstream exploration and production group of companies. It currently operates two Production Sharing Contracts in Indonesia.

The AABV and Pexco consortium signing the PSC is a related party arrangement. Objektif Bersatu Sdn Bhd ("OBSB"), a wholly owned subsidiary of Usaha Tegas Sdn Bhd ("UTSB"), has a direct 34.61% interest in Bumi Armada. Tatparanandam Anantha Krishnan is a major shareholder of Bumi Armada (by virtue of his deemed interest through, inter alia, UTSB and OBSB), and also holds a 100% indirect interest in Pexco. No related party transaction announcement is required to be made by Bumi Armada at this stage as the relevant percentage ratio has not been exceeded.

The announcement is dated 25 September 2023.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3387592

Posted by nikicheong > 2023-09-25 17:33 | Report Abuse

Another beautiful official announcement, adding some additional information to what we've already known previously.

Bumi Armada stands to get 2 levels of benefits here:

1st level: 51% operatorship, i.e. 51% of the net profits for every barrel of oil (or gas equivalent) sold.
2nd level: Charter income from the lease of the FPSO + FLNG

It's interesting that there's potential for BOTH FPSO and FLNG here.

This is now the 4th official announcement in as many months of future intent, though nothing concrete as of yet. If they were all to take off...mama mia!

Posted by nikicheong > 2023-09-25 17:41 | Report Abuse

Opportunities being actively pursued but with no finalised announcement as of yet:

1) FSRU at Mumbai Port - 50:50 JV with SP Energy
2) FCSIU in the UK - 50:50 JV with Navigator Gas
3) FLNG at Madura field - unknown ownership
4) Akia Field Operatorship in Indonesia - 51:49 JV with Pexco Energy
5) FPSO + FLNG (TBC) at Akia Field - unknown ownership

Recent positive news:

1) Armada Kraken back to producing at 100%, with two new HSP transformers brought abroad the FPSO to increase redundancy
2) 1 year contract extension for Armada Sterling II in the Mumbai High sector

Impending positive news:

1) First oil at the KG 98/2 field

Other positive catalysts:

1) Contract extension at the Armada TGT field (official announcement might only come sometime next year)

Posted by Ediee Tan > 2023-09-25 20:04 | Report Abuse

thanks @nikicheong for sharing ;)

Posted by kaipeng911 > 2023-09-25 20:14 | Report Abuse

Why everytime good news out but share price drop?

Posted by RISK8888 > 2023-09-25 20:21 | Report Abuse

Because operator pressing the price. They want to earn money along the way while price slowly recovering.

Posted by RISK8888 > 2023-09-25 20:22 | Report Abuse

Price will back 0.6 when next qr is release. For sure!

Posted by Felix888 > 2023-09-25 20:38 | Report Abuse

Now closing the price gap since the last Kraken shut in. Be patient.

Posted by Jerichomy > 2023-09-25 22:43 |

Post removed.Why?

Posted by Felix888 > 2023-09-25 23:05 | Report Abuse

Indonesia Akia PSC contract is on news now. Armada transformation from Oil and Gas service provider to an Upstream Oil and Gas producer. ✌✌✌✌✌https://theedgemalaysia.com/node/683791

Posted by i3lurker > 2023-09-25 23:09 | Report Abuse

Somebody dumped the shares?

Posted by Felix888 > 2023-09-25 23:10 | Report Abuse

Bumi Armada与印尼能源部签生产共享合约 | https://www.klsescreener.com/v2/news/view/1207571

Posted by Felix888 > 2023-09-25 23:12 | Report Abuse

Tmrw morning limit up I3licker. Remember to buy seller queue first thing in the morning I3licker. This is a damn good news.

Posted by Felix888 > 2023-09-25 23:16 | Report Abuse

The Akia located off the coast of North Kalimantan is an exploration block with an estimated resource of 2 billion barrels of oil and 9 trillion cubic feet of gas.

2 billion barrels of oil reserve!!!!!!😘😘😘

Posted by Felix888 > 2023-09-25 23:18 | Report Abuse

Najib said Sapura subsidiary, Sapura OMV, owned oil and gas reserves of 264 million barrels with a gross value of RM110.8 billion.

You sendiri kira that 2 billion barrels potential value how much.

Posted by Felix888 > 2023-09-25 23:41 |

Post removed.Why?

Posted by RISK8888 > 2023-09-25 23:46 | Report Abuse

Really limit up? I sure sell on news!

Posted by Felix888 > 2023-09-25 23:50 | Report Abuse

Armada market value just MYR 3.2 Billion. Now own 51% of a gold mine could produce MYR 644 billion or more worth of Oil. Now they are working on `fast track development` to dig the oil as soon as possible.

Posted by Felix888 > 2023-09-25 23:51 | Report Abuse

If double limit up I also will sell first 🤣🤣🤣

Posted by Felix888 > 2023-09-25 23:53 | Report Abuse

Now Armada is officially an upstream Oil and Gas Company. Similar to Petronas and Hibiscus.

Posted by Felix888 > 2023-09-26 00:20 | Report Abuse

This is a hidden gems ladies and gentlemen. Grab your tickets before it break above MYR 1.00.

Posted by rohank71 > 2023-09-26 08:28 | Report Abuse

Reported 60 mil barrels..= USD6B @ oil @ USD100, say margin 10% = USD600mil or RM3B over the next 15 yrs. PV, it will be easily RM1B.. a good enhancement of 20 sen per BA share. This excludes Gas.

Posted by hng33 > 2023-09-26 08:30 | Report Abuse

Bumi Armada would provide and operate a floating, production, storage and operation (FPSO), and a floating liquid natural gas (FLNG) or gas pipeline for the development.

“This leverages Bumi Armada’s core expertise of providing and operating floating production systems

Posted by Mabel > 2023-09-26 08:36 | Report Abuse

Kraken FPSOs rebirth likely to push FY24E to a record-high; U/G BUY

We revise our FY23-25E net profit forecasts by -36%/+0%/-22% to account for: (i) Kraken FPSOs unplanned shutdown on 29 May 2023; (ii) the recognition of bareboat charter (BBC) rates for 30%-JV Sterling V FPSO starting Nov 2023; (iii) lapse of TGT1 FPSOs option period in Nov 2024; and (iv) a decline in BBC rates when Kraken FPSOs firm period expires in July 2025. We take the view that the worst is now behind the group and U/G BArmada to BUY with a higher SOP-TP of MYR0.70 (from MYR0.58).

Source: Mabel's Tiger Bank

Posted by Felix888 > 2023-09-26 08:38 | Report Abuse

This is a very good business model. Previously BA borrow huge amount of money build the ship, starts collecting charted fees after first oil production. Contract could be cancelled by oil company. Huge risk but fixed return.

This new business model, still borrow money to build the FPSO but after the first oil profit sharing the oil production output as the PSC contract owner. The return is higher but with lower risk.

Posted by RISK8888 > 2023-09-26 08:46 | Report Abuse

Open up 3sens? biasa la, sell on news.

Posted by nikicheong > 2023-09-26 08:49 | Report Abuse

https://mkefactsettd.maybank-ke.com/PDFS/341911.pdf

Posted by Mabel > 2023-09-26 08:50 | Report Abuse

https://www.cnbc.com/2023/09/22/jpmorgan-says-oil-might-reach-150-gets-very-bullish-on-energy-stocks.html

Felix888’s Business Case Projection is based on USD 70 per barrel. JPMorgan says oil could spike to $150…..

Like that, Mabel will also to hold my Armada tickets for 10 years.

Meow Meow Meow

Posted by nikicheong > 2023-09-26 12:37 | Report Abuse

Bumi Armada Berhad provides services throughout the oil and gas value chain – from exploration through to field development construction, production and operations – via three central business units.

Business Units

1. Operations - The Operations business unit specialises in engineering, procurement, construction, commissioning, and the operations of floating oil and gas facilities as per the specific requirements of clients.

2. Gas Infrastructure

3. Subsea Construction

Having simultaneously managed and delivered several large projects safely, the company has developed a reputation for its project management capabilities. We deliver innovative solutions and quality facilities that incorporate leading technologies to cater to your needs in field development, production and storage.

As an integrated oilfield services provider wherever your company is, in terms of field development and production, Bumi Armada offers a range of capabilities from life of field surveys, production facilities, installation and operations. Drawing on our decades of experience we will bring innovative solutions to bear, provide quality facilities safely and services as well as incorporate leading technologies where appropriate.

Posted by nikicheong > 2023-09-26 12:41 | Report Abuse

The above is from Bumi Armada's website which has just been recently updated. It looks like they have added a new business unit on "Gas Infrastructure", and splitting "Subsea Construction" from their "Operations" business unit.

It's unclear what "Gas Infrastructure" entails, if it includes FSRU and FLNG or is referring to gas pipelines etc.

But the fact that they are creating this category, means that it will be a substantial business unit going forward.

Posted by nikicheong > 2023-09-26 12:43 | Report Abuse

Previously, there were only two business units. "Operations" and "Others". See the previous structure:

--------------------

The Group is organised into 2 reportable segments to reflect the nature of activities carried out by its business
units, as follows:

(i) Operations – provision of FPSO vessels, Floating Gas Solutions unit, OSV vessels, SC assets and marine
related services.

(ii) Others – consists of the following:

• Technology, Engineering and Projects – provision of engineering consultancy and project support
services.

• Corporate and others – Management services and corporate support services provided to subsidiaries
which are considered incidental to the Group’s operating business.

Posted by Fklim888 > 2023-09-26 12:51 | Report Abuse

sell on news or....still floating around.....degil

Posted by Jerichomy > 2023-09-26 12:59 |

Post removed.Why?

Posted by randy793 > 2023-09-26 14:24 | Report Abuse

thanks nikecheong

Posted by Felix888 > 2023-09-26 22:57 |

Post removed.Why?

Posted by Felix888 > 2023-09-26 23:06 | Report Abuse

RM0.55 a share invest in an upstream oil company has rights to dig an oil block with oil reserve more than MYR 644 billion. 抵到烂。

Posted by Felix888 > 2023-09-26 23:15 | Report Abuse

I bought a lot at 0.525, after Niki posted the Indonesia Akia block awarded to Armada unit. Average up for me.

Posted by nikicheong > 2023-09-27 00:26 | Report Abuse

https://www.upstreamonline.com/field-development/fpso-contractor-confirms-upstream-oil-and-gas-debut/2-1-1524271

Interesting tidbit: Market sources informed that Bumi is also finalising a second upstream permit in Indonesia.

Posted by Felix888 > 2023-09-27 08:11 | Report Abuse

Converting to upstream oil and gas player profit sharing based on production output. ✌✌✌

Posted by CyrusQ > 2023-09-27 08:54 | Report Abuse

I3 have change new front layout ?

Posted by icecool > 2023-09-27 09:11 | Report Abuse

i3 cant load stock pages dont know about layout

Posted by Felix888 > 2023-09-27 10:15 | Report Abuse

Engine started, full steam ahead!!!

Posted by TimCoke > 2023-09-27 10:17 | Report Abuse

better news coming ^^