Posted by nikicheong > 1 month ago | Report Abuse

I have it confirmed that Mumbai FSRU project has been scrapped.

Posted by Gabriel Khoo > 1 month ago | Report Abuse

Bcos of low value og gas?

Posted by nikicheong > 1 month ago | Report Abuse

Not sure why exactly

Posted by rohank71 > 1 month ago | Report Abuse

TA charts are uptrend... hang on tight.

Posted by Gabriel Khoo > 1 month ago | Report Abuse

https://www.upstreamonline.com/field-development/indias-ongc-starts-bid-battle-for-much-delayed-contract-at-flagship-deepwater-asset/2-1-1616393

Posted by Gabriel Khoo > 1 month ago | Report Abuse

If BAB can get 1 Big and 1 small projects. I think CIMB will give a good TP and lower the Beta from 1.5x also will translate to high TP.

Posted by LimPek1510 > 1 month ago | Report Abuse

India`s project better avoid. The project timeline keep moving forward. 🤣🤣

Sapura Energy also a victim of ONCG.

Posted by vespa > 1 month ago | Report Abuse

Hopeless in every sense

Posted by rohank71 > 1 month ago | Report Abuse

need to close min 58 today.. or else we still stuck at resistance.. once above 58.5 surely will break 60 and go to 63 to 65...

Posted by Ninja _07 > 1 month ago | Report Abuse

Something happening? It’s dropping today

Posted by nikicheong > 1 month ago | Report Abuse

Aiyo Ninja_07 it drop or go up by 1 sen or 0.5 sen also no need ask if something happening lah. If daily change is 5 sen or more, then maybe ask such questions.

Posted by nikicheong > 1 month ago | Report Abuse

The impairment tests for TGT and CNV assume that production ceases in 2029 and 2030 respectively, assuming the licences are extended by at least three years reflecting past practice and a commercial assessment (and consistent with the reserves estimates independently audited by RISC Advisory Pty Ltd.) that it is highly probable given the economic circumstances and current discussions. The current negotiations over terms are for a longer duration than that assumed and would be expected to improve the value in use calculated.

https://www.londonstockexchange.com/news-article/PHAR/2023-preliminary-results/16396775

Posted by Gabriel Khoo > 1 month ago | Report Abuse

Nik. I thought in the link. Potential extension to 5 years?

Posted by nikicheong > 1 month ago | Report Abuse

Gabriel, what do you mean?

They are seeking a 5-year license extension for TGT (from 2026 to 2031). Prior to this, they already received a 2-year extension (from 2024 to 2026). The FPSO charter is only until 2024. At the very least, it will be extended 2 years, but more likely up to 2031. The Vietnamese authorities have already approved the Revised Field Development Plan (RFDP) till 2031, all that remains now is the approval of the license extension.

At the same time, the TGT operators have secured the drilling rig to drill 2 wells in H2 2024.

Posted by nikicheong > 1 month ago | Report Abuse

Bluestreak CO2 Limited ("Bluestreak")

Bluestreak is a 50% joint venture between the Company and Bumi Armada, one of the world’s largest floating infrastructure operators. The joint venture aims to provide an end-to-end solution for carbon emitters to capture, transport, sequester and store their carbon dioxide emissions in line initially with the United Kingdom’s Industrial Decarbonisation Strategy. It is anticipated that the Bluestreak joint venture will design and implement a value chain of shuttle tankers delivering to a floating carbon storage and injection unit. The complete value chain is expected to safely and reliably transport and provide buffer storage of liquid carbon dioxide. The Bluestreak joint venture is subject to the execution of definitive documentation, approvals by the respective boards of directors of the Company and Bumi Armada, applicable regularly approvals and other customary closing conditions. We disclose our proportionate share of profits and losses from equity method unconsolidated affiliates in the statement of operations and adjust the carrying amount of our equity method investments on the balance sheet accordingly.

-----------

Taken from the Navigator Gas annual report. Still nothing substantive. I will be cautiously optimistic at best about the potential success of this joint-venture.

https://navigatorgas.com/wp-content/uploads/2024/03/Navigator-Gas-2023-Form-20-F.pdf

Posted by nikicheong > 1 month ago | Report Abuse

From my research, Bluestreak CO2 was banking on the Grain Power Station in the UK to be its first client. However, Grain Power Station has chosen a different design and is no longer working with Bluestreak CO2. I am unsure at this moment if they even have any other potential client they're working with.

Posted by rohank71 > 1 month ago | Report Abuse

https://theedgemalaysia.com/node/706259

will this benefit BA?

Posted by Robert Waters > 1 month ago | Report Abuse

Buenos dias. I do not believe it will help BA financially by means of earnings. But it will create some good publicity. Possibly allow for rerating. Low interest loans. Subsidies.

Posted by rohank71 > 1 month ago | Report Abuse

Very good close today. Good base at 57 to 58... a bit long here and it will get higher

Posted by nikicheong > 1 month ago | Report Abuse

Three months down and still, nothing to show for. Come on Bumi Armada!

Day by day, I lose that bit more faith in the company. Will plan an exit within the next 6 months if there's still nothing new secured by then or if there's an inexplicable run-up in the share price.

Posted by ITreeinvestor > 1 month ago | Report Abuse

MISC BERHAD ("MISC" or "the Company")
- Award of Contract: Three (3) Liquefied Natural Gas ("LNG") Carriers on Long Term Contract with QatarEnergy

Posted by nikicheong > 1 month ago | Report Abuse

Not a shred of relevance to Bumi Armada mate.

Posted by rohank71 > 1 month ago | Report Abuse

Hang ON #niki. BA has cashflow. that is important. FA is good, and it's TA is building momentum. 57.5 to 58.5 seems to be a major resistance. Another 50 day to next QR. with lower depreciation, it will b a record profit also cashflow will be strong.

Posted by rohank71 > 1 month ago | Report Abuse

We will soon see 63 and then to 65

Posted by rohank71 > 1 month ago | Report Abuse

With the next QR, most analysts will upgrade to 80 sen band. BA was valued based on DCF of 13% so it can only get higher by 13% annually unless the Karken similar issues happens.

Posted by rohank71 > 1 month ago | Report Abuse

Last Q most analyst held back due to the surprise losses or else it may be 60+ now.

Posted by steady31 > 1 month ago | Report Abuse

once the ukraine war is over there will be tremendous claw back of provision made last quarter to boost the bottom line to a record profit and free cashflow.Share price will break up above 63c

Posted by rohank71 > 1 month ago | Report Abuse

broke 58.5 and at 59... close above 59 will be super great...

Posted by babyuser111 > 1 month ago | Report Abuse

go up bit by bit

Posted by ITreeinvestor > 1 month ago | Report Abuse

ONGC is optimistic about improving output in FY25 with production set to start at its deepwater block in the Krishna Godavari basin. Kumar said installation activities would be completed by early May and peak production from the block would be reached by the end of 2024.

Posted by ITreeinvestor > 1 month ago | Report Abuse

looking forward Armada Sterling V to final acceptance by May 2024

Posted by nikicheong > 1 month ago | Report Abuse

It would always be appreciated if you could provide the source/link for whatever you're sharing.

Posted by nikicheong > 1 month ago | Report Abuse

Link: https://www.moneycontrol.com/news/business/ongc-kg-basin-peak-production-may-get-delayed-to-end-2024-12554111.html

The news is not good. Again, delay after delay where the Indians are concerned. It looks like final acceptance can only be achieved once all 3 oilfields have been connected. If so, this will happen in Aug 2024 at the earliest, with potential for further delay.

By my estimate, the vessel is currently producing between 12k to 15k bopd from just one field. Another two are pending connection to the FPSO.

Posted by ITreeinvestor > 1 month ago | Report Abuse

https://www.moneycontrol.com/news/business/ongc-to-invest-4-5-billion-in-2-3-years-to-boost-output-from-mature-fields-12559841.html

Posted by nikicheong > 1 month ago | Report Abuse

One can only hope the latest rally is being driven by an impending contract award that insiders are aware of.

Posted by zonefinder > 1 month ago | Report Abuse

Yeah, even the Looong term investors are getting sick of waiting for good news on project wins from BA.

Posted by nikicheong > 1 month ago | Report Abuse

Just heard from Pharos that the lease extension for the TGT FPSO will be signed in the middle of next month. Likely to be for 2 year period (with a further 5 year extension thereafter).

Posted by lloydlim > 1 month ago | Report Abuse

Buying interests is back!

Posted by Gabriel Khoo > 1 month ago | Report Abuse

YTD net bought of RM80M+ from FF

Posted by jacintateh > 1 month ago | Report Abuse

jacintateh Three months down and still, nothing to show for. Come on Bumi Armada!Day by day, I lose that bit more faith in the company. Will plan an exit within the next 6 months if there's still nothing new secured by then or if there's an inexplicable run-up in the share price.
01/04/2024 5:48 PM;

agreed... will do too, all highly rated by analyst but it's performance is so lacklustre whereas others (e. Perdana/Velesto (though different segments) have overtaken it. As long as the major resistence of 0.585 is unbroken, it will definetely be difficult to reach 0.615/0.63/0.66.
04/04/2024 11:32 AM

Posted by Penarak > 1 month ago | Report Abuse

Yesterday top speed....today slo back again.

Posted by serpent100 > 1 month ago | Report Abuse

Brent oil 91 usd …wohoo
Limit up today

Posted by bose00 > 1 month ago | Report Abuse

US market taking a dive be careful not to rush in blindly !

Posted by rohank71 > 1 month ago | Report Abuse

Great support at 58. take ur chances.

Posted by Ninja _07 > 1 month ago | Report Abuse

US market taking a dive due to Technology stocks dipping yesterday. Mainly because there is news there might be no interest rate cut. Oil going up because Israel-Iran escalating fighting.

Posted by steady31 > 1 month ago | Report Abuse

chart is all clear for a upward thrust to cover gap at 63.5 and thereafter to test resistance at 68

Posted by nikicheong > 1 month ago | Report Abuse

Thank you chartists and technical traders for doing the dirty work.

Posted by jacintateh > 1 month ago | Report Abuse

too many sellers, esp' day traders, making the share drop back. when only can break 0.6 dessisively? longer we keep, the higher the risk.

Posted by rohank71 > 1 month ago | Report Abuse

BA is not ready to move up. many short term traders have jumped in due to TA being strong. good support at 58.5 to 59.5...the earlier resistance has become a support. more long-term holders will move in. wait for Q1 results, which may be the highest profit. I still see the past high to be the next major resistance. breaking that 1.00 is a possibility.

Posted by rohank71 > 1 month ago | Report Abuse

Bearish only if drops below 58.