Posted by JJchan > 2018-05-28 17:25 | Report Abuse

Petronas is a International Co. If he burned local Contracts, Other Countries can Do the same.....
Rule by force Or Rule by Law

Posted by TakeProfits > 2018-05-28 20:48 | Report Abuse

Shit stock...stay away. How long you all want to hold. Since last year talk talk kok, to buy and hold. Haha. Whoever buy and hold will kena kaw kaw!! Involved in lousy business..

Posted by anonymous98 > 2018-05-28 22:49 | Report Abuse

long term should be ok

Posted by Iloveshare > 2018-05-28 22:51 | Report Abuse

be patience, now is very low price, wait the market sentiment is recovering, velesto will rocket up

Posted by Neut_ron1 > 2018-05-28 23:22 | Report Abuse

Shud hv faith in this counter....collect & hold....still cheap...rise to rm1 is already 200% gain..

Posted by JJchan > 2018-05-29 10:28 | Report Abuse

Some free time today so when Back to Check why umwog sell Naga 1( it seems someone here thinks bcoz petronas doesn't award contract to umwog so umwog had to sell Naga 1 )

Damn NAGA 1 is 43 year Old.....43 year Old......43 year Old -------43 year Old......Selling for
scrap Iron only

Posted by JJchan > 2018-05-29 10:33 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5417865

for your perusal Naga 1 Sale

Posted by offshore > 2018-05-30 14:39 | Report Abuse

Naga 1 was sold because it has a contract but has no income. Otherwise, why would a company sold a cash cow. Remember this. Petronas can always ask drilling contractor to standby at zero rate. Go read their prospectus again on their contract status at the beginning. This company was supposed to be a no-brainer investment with so many long term contracts on hand until the oil price dropped and Petronas started to invoke certain clauses in the contract.

Posted by Alibaba007 > 2018-05-30 15:25 | Report Abuse

Gamuda - 0.9
Better buy This will up.

Posted by greedy_bilis > 2018-05-30 15:28 | Report Abuse

Yes... Agree.. They put on standby without paying anything... Under umbrella project

Posted by JokerT > 2018-05-30 15:44 | Report Abuse

will up tomorrow

Posted by Stephenloo > 2018-05-30 16:38 | Report Abuse

Gamuda no more mega project, short term hardly recover

Posted by KEYBOARD > 2018-05-31 10:19 | Report Abuse

follow Sapura...dabao liao

Posted by KEYBOARD > 2018-05-31 10:22 | Report Abuse

Sapura drop velesto follow..

Posted by freddiehero > 2018-05-31 10:24 | Report Abuse

oledi said -50% off from 0.32

Posted by freddiehero > 2018-05-31 10:24 | Report Abuse

tp 0.15-0.20 baru think join in

Posted by JJchan > 2018-05-31 12:08 | Report Abuse

The Disposal Consideration was derived as shown below:
Highest bid USD3.306 million (being the lump sum offer
for NAGA 1 together with the equipment and
spares)
UDC’s share of ownership 50%
Disposal Consideration USD1.653 million
7) Quantification of the amount owing to JDC-P as at the latest practicable date, and
how does the amount owing arose.
As at 28 April 2017, the amount owing by UDC to JDC-P is USD2.705 million, being
UDC’s share of the costs of the spares on board of NAGA 1.
8) The particulars of all liabilities to be assumed by JDC-P arising from the Proposed


" UMWOG didn't make a single Cents from the disposal" bcoz they still owe JDC-P money...
Naga 1 just a piece of Junk (43yrs Old, Oldest still running is 37year Old) ----I think annual Insurance is very high. New technology that give higher efficiency cannot be incorporated)
" Would you hired a 30yrs Indonesian Or a 70yrs local for construction work )

Posted by offshore > 2018-05-31 12:26 | Report Abuse

Haiii ... why would any anyone want to dispose an asset that was having a contract expiring in 2018?

Posted by chromacon > 2018-05-31 20:28 | Report Abuse

Perhaps because maintenance cost > potential revenue?

Posted by Alibaba007 > 2018-06-01 00:32 | Report Abuse

Edaran now good

Posted by offshore > 2018-06-01 09:10 | Report Abuse

If maintenance cost > potential revenue, that contract would not be signed at all unless ... the client slash the rate or don't even uses their asset, although contracted for. As i have said, contract is meaningless if petronas can ask for standby at zero rate, anytime.

Posted by cth0712 > 2018-06-01 16:17 | Report Abuse

Seems getting worse for this counter, just hope 0.26 will not fallen...

Posted by willc48 > 2018-06-02 05:53 | Report Abuse

Just sell the bloody company to the chinese. All these bad mgmt from those affiliated to umno.

Posted by SuperPanda > 2018-06-02 11:17 | Report Abuse

bought .265 @ 300 lots, hold 1300 lots ave 0.280

Posted by KEYBOARD > 2018-06-02 14:48 | Report Abuse

i will push this Monday..ready

Posted by Alibaba007 > 2018-06-02 20:45 | Report Abuse

Now put 1time up to 0.35. edaran readyup

Posted by Alibaba007 > 2018-06-02 20:49 | Report Abuse

Puc jacpot

Posted by cth0712 > 2018-06-04 09:51 | Report Abuse

0.26 also fallen, nobody push....

Posted by Bursa Christopher > 2018-06-04 23:50 | Report Abuse

tp 0.50...

Posted by anonymous98 > 2018-06-05 00:47 | Report Abuse

0.5 ? sure?

Posted by Gary Ho > 2018-06-05 10:17 | Report Abuse

you should be happy if can go to .35 at this period of the time.

Posted by JokerT > 2018-06-05 15:17 | Report Abuse

time to collect, today TP 0.320

Posted by JokerT > 2018-06-05 15:17 | Report Abuse

will up later

Posted by Rudi Lim > 2018-06-05 15:40 | Report Abuse

Velesto Energy aiming for 100% utilisation of jack-up fleet
Malaysian drilling contractor Velesto Energy (formerly UMW Oil & Gas) is hoping that within weeks it will have secured 100% utilisation for its seven-strong jack-up fleet, writes Amanda Battersby.

“Besides working on the extension of existing contracts, the group is also bidding and negotiating for new contracts to replace expiring ones,” said Velesto.

Jack-up Naga 8 is expected to have its existing contract with Hess offshore Peninsular Malaysia extended by another two years to around mid-2020. Meanwhile, one source suggested that a sister rig, Naga 7, could be in line to secure a contract with Shell due to start in the third quarter.

Of Velesto’s already chartered units, UMW 5 is about to start a two-well contract for Repsol off Sabah, East Malaysia. UMW 5 is scheduled to drill the Realgar-2 and Axinit-1 exploration wells on Block SB 309. “The utilisation rate is expected to stay at a relatively healthy level in the near future,” added Velesto. “However, time charter rates remain challenging due to the global oversupply of rigs,” cautioned the contractor.

Kuala Lumpur-listed Velesto officially changed its name from UMW Oil & Gas on 25 May.

Posted by SHQuah > 2018-06-05 15:54 | Report Abuse

Going to fly soon, buy warrant

Posted by junetan20 > 2018-06-05 16:23 | Report Abuse

blooming?

Posted by anson938 > 2018-06-05 16:43 | Report Abuse

coming up.....toward 0.38....

Posted by JJchan > 2018-06-05 16:48 | Report Abuse

Sorry, it should be Rm83million profit for 100% Rig utilisation.....So 3Q2018 and 4Q2018= Rm166m

Posted by JJchan > 2018-06-05 16:52 | Report Abuse

With so many jack-Up Rigs in Cold-stack (world wide)----i wonder whether Velesto can rent them
if Velesto win contract in Arab Region which they are bidding

Posted by anson938 > 2018-06-05 16:56 | Report Abuse

cleared all @ price 0.28 before closing today....

Posted by SuperPanda > 2018-06-05 18:17 | Report Abuse

wait good news coming up back 32c

Posted by JokerT > 2018-06-05 22:33 | Report Abuse

tomorrow will break 0.30

Posted by JokerT > 2018-06-06 08:56 | Report Abuse

collect now . Tp 0.315- 0.320 today

Posted by anson938 > 2018-06-06 09:02 | Report Abuse

I agree that price Will be sharply up...

Posted by anson938 > 2018-06-06 09:11 | Report Abuse

Might touch 0.305 first before go thru 0.34-0.35

Posted by JokerT > 2018-06-06 09:14 | Report Abuse

up liao up liao... last call

Posted by anson938 > 2018-06-06 09:54 | Report Abuse

Big volume!...

Posted by anson938 > 2018-06-06 11:12 | Report Abuse

0.29 now....

Posted by SuperPanda > 2018-06-06 11:15 | Report Abuse

now regret why only buy 300 lots at .265, but better bought than never : )

Posted by SuperPanda > 2018-06-06 11:17 | Report Abuse

queue sell .295, pls buy from me 300 lots, want to shop for children raya new cloth