Posted by edison5351 > 2018-05-24 18:28 | Report Abuse

hahah dream on guys, UMWog wont fly la tmrw. haha

Posted by Alibaba007 > 2018-05-24 18:47 | Report Abuse

1998 2008 now 2018 股灾时候进场

Posted by lala23 > 2018-05-24 18:47 | Report Abuse

it probably wont fly but u can see from the report that the future looks good. they have 7 rigs and 5 is operational now and remaining 2 will operate in third quarter. meaning things are looking good.

Posted by tallman > 2018-05-24 18:50 | Report Abuse

It's a good start.

Posted by TheLegend27 > 2018-05-24 20:29 | Report Abuse

tomorrow time to run at high price opening b4 drop back

Posted by SuperPanda > 2018-05-24 21:30 | Report Abuse

it wont fly high bcoz not that superb and market is weak but at least its green and future looks good

sustain above 32c is fair enough

Posted by Stephenloo > 2018-05-24 21:57 | Report Abuse

Agree with at least sustain at 0.32
Once market booming than can buy more

Posted by ankahill > 2018-05-24 22:31 | Report Abuse

Tomorrow morning up little bit, then slowly going down again after 10am. Biasa lah!! :D

Posted by mawiLegend > 2018-05-24 23:38 | Report Abuse

Quarter result ckp untung..tp price mcm tu ja..anyone can explain..? Share la apa2 rumours..kita bincang2..haha

Posted by Neut_ron1 > 2018-05-25 00:12 | Report Abuse

Buy longterm..fy18 still chalenging for o&g... crude on uptrend..prhaps fy19 promising... buy & hold

Posted by freddiehero > 2018-05-25 06:58 | Report Abuse

not yet go below 0.20

Posted by Iloveshare > 2018-05-25 06:59 | Report Abuse

good QR results

Posted by 286210 > 2018-05-25 07:22 | Report Abuse

MAY 24, 2018 @ 6:12PM 
BY BERNAMA

KUALA LUMPUR: Velesto Energy Bhd, formerly known as UMW Oil & Gas Corporation Bhd, returned to the black in the first quarter ended March 31, 2018, with a net profit of RM4.87 million compared with a net loss of RM104.92 million recorded in the same period last year.

The improvement was mainly due to higher rigs utilisation and a net foreign exchange gain of RM18.2 million, the oil and gas services provider said in a filing with Bursa Malaysia today.

Revenue, meanwhile, rose to RM121.76 million from RM74.28 million previously.

The company said both the drilling services and oilfield services segments reported higher revenue as a result of higher rigs utilisation and an increase in threading activity in China.

“The group is presently focusing on securing more contracts and improving operational efficiency.

“The potential improvement in both utilisation and operating cost is expected to contribute positively to the financial performance of the group for the financial year 2018,” it added.

Posted by 286210 > 2018-05-25 09:02 | Report Abuse

With Brent in usd70-80 range, things are looking better for next few years, compared to the last few years. Umwog back to profits territory.

Umwog price is still stagnating, maybe due to overall anxiety of foreign funds to Malaysian Govt's rm1 Trillion debts. But similar to companies - all new Management taking over, will quickly write off and make all bad provisions first upfront. So it's clear they've no part of that past problems.
But most of the additional rm190 Bn of Govt guarantees, are just guarantees. New Govt is already cancelling ecrl, my hsr, pan borneo highways, TRX, maybe Mrt Line 3 too and even cancelling and reviewing some PFI projects. I suppose those are the likes that needed guarantess anyway.

Posted by barricade > 2018-05-25 09:09 | Report Abuse

hi guys, this company never pay dividend?

Posted by Pyh96 > 2018-05-25 09:27 | Report Abuse

Has been making loss for 3 years , no profit mana ada dividend?
Maybe this year will distribute dividend la ...

Posted by derrtan > 2018-05-25 09:32 | Report Abuse

not moving at all ??

Posted by DualShock > 2018-05-25 09:35 | Report Abuse

As expected "Turbo" lag.

Susah "cari makan' now after Turn Green + Black in Q1 2018.

Now only can wait the timing if Velesto can secure new Contract or not.

Posted by Stephenloo > 2018-05-25 09:53 | Report Abuse

Big guy not in yet. Is time for us grab some before big guy in

Posted by JJchan > 2018-05-25 10:08 | Report Abuse

reading from Velesto management report, 1Q2018 is 5 rigs bcoz they cannot moved the other 2 rigs into positions due to rough weather( monsoon). So 2Q18 should 6--7 rigs operating that
would guarantee better results than 1Q2018......The Tsunami will 3Q2018----all Rigs(7) full load.

Management see Good result in Medium term-----so price rally is all the Way to Christmas

Posted by Alex™ > 2018-05-25 10:20 | Report Abuse

wah, name change d, now talk also got wind

Posted by offshore > 2018-05-25 10:22 | Report Abuse

Already said many times, it will take some time for the market to mop up the rig over capacity. There is no rig overcapacity in Malaysia but this company still need to match the market day rate when dealing with Petronas. If the day rate doesn't go up, the income won't go up. Now the rate is just nice to breakeven but if any rigs out of contract or need to do dry dock, then it won't be in the black.

Posted by KEYBOARD > 2018-05-25 11:00 | Report Abuse

ST.TP 40

Posted by freddiehero > 2018-05-25 11:29 | Report Abuse

wah.. change name?

Posted by freddiehero > 2018-05-25 11:29 | Report Abuse

mean hutang no need pay?

Posted by Max2838 > 2018-05-25 12:02 | Report Abuse

VELESTO ENERGY - Key Takeaways from AGM

1. Depreciation is less going forward,
Lower Interest rate paymts from less LTerm loan (1.8X to 0.5X)

2. Velesto expects Profitability from 2018.
Total Contract RM 1.26B (RM 834M + RM424 as options)
Petronas requirements 7 rigs (Velesto has 7 rigs, Perisai 1 rig)
Utilisation of rigs less of a challenge compared to 2016-2017
Impairments not expected in 2018

3. Valesto is a good proxy to oil price increase
Oil price expected to remain strong for a few years
Chartered rates for oil rigs to improve when Brent oil >$85bbl

4. Velesto is a medium to long term investment

Posted by freddiehero > 2018-05-25 12:21 | Report Abuse

yalo just talk how untung..

Posted by freddiehero > 2018-05-25 12:21 | Report Abuse

no talk loss how much..

Posted by JJchan > 2018-05-25 13:12 | Report Abuse

next stop 0.350

Posted by JJchan > 2018-05-25 13:29 | Report Abuse

max 2838....you missed one rig from 1MDB called Petrosaudi discoverer just 40year Old. Going
to be renovated as a jail for 1MDB dedak members

Posted by JokerT > 2018-05-25 14:26 | Report Abuse

will up today .

Posted by harvestent > 2018-05-25 17:29 | Report Abuse

Today good closing 0.295, Monday will up 0.31

Posted by Alibaba007 > 2018-05-25 19:15 | Report Abuse

Next week tp. 04.03.035.055

Posted by James Ng > 2018-05-26 09:21 | Report Abuse

https://klse.i3investor.com/blogs/general/158248.jsp
[转贴] [VELESTO ENERGY BERHAD，确保更多合同和提高运营效率] - James的股票投资James Share Investing

Posted by Bull > 2018-05-26 13:00 | Report Abuse

https://m.facebook.com/story.php?story_fbid=1988968324765442&id=1971580826504192


0.2 next week. Change to wct

Posted by Neut_ron1 > 2018-05-26 15:28 | Report Abuse

Technical chart still flat... time to buy or to sell?

Posted by HengHuatOng > 2018-05-26 16:03 | Report Abuse

Good start for 2018. Outlook positive going forward. Will have positive impact to the share price.

Posted by Neut_ron1 > 2018-05-26 17:14 | Report Abuse

Saudi pumping more oil from d report... any impact on share price?

Posted by JJchan > 2018-05-27 13:04 | Report Abuse

Umwog is Not a Oil Co. Petronas is a Oil Co.(selling and Distributing Oil & Oil products )
Umwog just a Oil Driller. Once they received Drill Contract and a Nego. Drilling price--you can count profit already----Oil price up or down does Not kill Contract......Anyway Petronas projected
Oil price around $55 only so Drilling price is Not going UP aggressively.

Petronas need 7--10 Drill Rigs for 2018......Umwog got 7 rigs and Perisai got 1 rigs ( 2 players from Malaysia Only)
Petronas belongs to Malaysia Gov....Umwog belongs to PNB......Abang, adik scenario

Umwog loans cut by 2.1B from Pnb cash injection and another 600m cash injected for Operating
Expenses (no wonder umwog staff are offer New Cars )

Good turn around Company

Posted by Pmaster > 2018-05-28 08:56 | Report Abuse

I guess the price will drop below 0.25 if sap drop

Posted by gayinvestor > 2018-05-28 09:04 | Report Abuse

sorry Pmaster, you are wrong

Posted by Pmaster > 2018-05-28 09:18 | Report Abuse

Gay , maybe

Posted by Pmaster > 2018-05-28 09:23 | Report Abuse

Gay , today price 0.28 , one week later maybe will be below 0.28 aldy.

Posted by Pmaster > 2018-05-28 09:23 | Report Abuse

Brlow 0.25

Posted by offshore > 2018-05-28 09:38 | Report Abuse

"Oil price up or down does Not kill Contract"

When oil price is down, contract will be renegotiated. Don't ever forget why they have to sell off Naga 1 last time. That contract with Petronas was supposed to last until 2018.

Posted by edison5351 > 2018-05-28 11:51 | Report Abuse

RUN faster run for ur saving haha

Posted by anson938 > 2018-05-28 12:38 | Report Abuse

https://klse.i3investor.com/servlets/ptres/44879.jsp Positive Outlook for Velesto

Posted by wudmec > 2018-05-28 13:25 | Report Abuse

wow/..0.39 target price..hopefully can touch in 2-3 months

Posted by SuperPanda > 2018-05-28 14:19 | Report Abuse

this is a buy and hold stock for 2018/19

Posted by JJchan > 2018-05-28 17:23 | Report Abuse

Contract cannot be killed for sure ( it is a legal document )------but what we don't know are the "clauses" inserted to protect Petronas.....If the Lawyer of Umwog agreed to these "protection clauses "then there is nothing we can Do.

In HSR signed "agreement" bet. Najib and Singapore, Mahathir can said I didn't signed it why
must we compensate Singapore----ask Najib to pay --lah........ Again the document is a Legal
Document.......Mahathir said he has to find some way out of this shit (no outright burned the Doc.) ------