Posted by Lewis Lee > 2021-01-09 20:15 | Report Abuse

This is my last advice !! calling all Velesto believers , sit tight , taruh more and enjoy the ride ... starting next week !! VRoom Vroom Vroom >>>>>>>>>>>>>>

Posted by JoshuaMS7 > 2021-01-09 23:30 | Report Abuse

https://www.theedgemarkets.com/article/govt-not-expected-impose-total-lockdown-mco-says-ismail-sabri

Posted by dusti > 2021-01-10 10:44 | Report Abuse

Would armada be a better bet?

Posted by Macgyver11 > 2021-01-10 17:14 | Report Abuse

Armada ayam international Velesto ayam tempatan...hehehe!

Posted by Macgyver11 > 2021-01-11 15:38 | Report Abuse

No rig contract no talk...

Posted by JoshuaMS7 > 2021-01-12 16:09 | Report Abuse

Laosai counter

Posted by JoshuaMS7 > 2021-01-12 16:11 | Report Abuse

Better cut loss

Posted by sharewiz118 > 2021-01-13 00:24 | Report Abuse

one day must fly

Posted by djibaok > 2021-01-13 00:28 | Report Abuse

lagi turun lagi top up

Posted by JoshuaMS7 > 2021-01-13 09:13 | Report Abuse

finally brent broke 57 usd!!

Posted by bananachacha > 2021-01-13 09:42 | Report Abuse

top active stock.. lets fly!

Posted by HarisMarhom > 2021-01-13 10:16 | Report Abuse

Already start..

Posted by nicholas99 > 2021-01-13 11:25 | Report Abuse

ya. macam tak larat.

Posted by koyokui > 2021-01-13 11:59 | Report Abuse

Buy velesto oil reach new high

Posted by Lewis Lee > 2021-01-13 12:56 | Report Abuse

TP = 26.5 by analysts ! Cepat sapu !!!!!

Posted by pea3034 > 2021-01-13 13:06 | Report Abuse

kepala otak awak lewis .. jgn tembak sja

Posted by Jjkcl > 2021-01-13 13:28 | Report Abuse

Bimb tp 0.265. The Star business.

Posted by Lewis Lee > 2021-01-13 13:29 | Report Abuse

pea3034, wait for the price to reach 26.5 then you come and panic buy loh !!
That's why many newbies lose money in sharemarket !
Now the price is the slowest, very safe to enter !!

Posted by Lewis Lee > 2021-01-13 13:30 | Report Abuse

"BIMB Securities Research has upgraded Velesto Energy to a buy (from a hold), with a higher target price of 26.5 sen (from 14 sen previously) on steady demand for jack-up rigs in the next three years. "

"MIDF Research also highlights that based on the PAO, 2021 upstream activity levels are expected to mirror that of 2020 as Petronas remains cautious on the O&G sector recovery.

The research unit says a key opportunity area is in the decommissioning and well-abandonment segment.

This is given as currently Malaysia has over 350 platforms where 56% are operating beyond design life and 18% have been operating for over 40 years, there are more than 3,000 wells where 45% are idle wells and over 500 wells are planned to be plugged permanently by 2030, and more than 750 pipelines, where 38% are operating beyond design life and 4% have been operating for over 40 years.

The key beneficiaries to well abandonment activity would be drilling rig operators such as Velesto Energy and Sapura Energy, as well as hydraulic workover units (HWU) operators such as Velesto Energy."

If you missed these reports few days ago, READ and ANALYSE again !!

Posted by Lewis Lee > 2021-01-13 13:45 | Report Abuse

https://oilprice.com/Energy/Oil-Prices/The-Oil-Industry-Is-In-Dire-Need-Of-Investment.html

go and read this report also !

highlight :-
" 2021 could be a watershed year for oil markets, in which falling investments and bankruptcies will create a supply crunch the likes of which we have never seen before. With an ever-growing list of delayed upstream projects and FIDs, the threat is growing. In a report by the International Energy Forum (IEF) and consultancy BCG in December 2020, warnings were given that lower CAPEX levels and low investment appetite will be a real threat to markets. OPEC, IEA, and others, have already made it clear that cumulative hydrocarbon related investments are dwindling. As OPEC has indicated before, investment volumes of around $12.6 trillion are needed to keep the oil supply for the coming decades at the current level. Norwegian oil consultancy Rystad Energy said that even though demand has declined in 2020, 2019 levels could return before 2024/25, necessitating future upstream spending of an average of $380 billion p.a. over the long-term. The need for large scale new investments is clear, as the upstream sector has already been fighting an uphill battle to get access to the necessary investment volumes in recent years. Larger investments are necessary to avoid a future of higher prices and increased market volatility. Inadequate investments will set off another wave of unwanted boom-and-bust pricing. With oil majors indicating that CAPEX reductions will be in place throughout 2021, and some even seeing 2022 as a difficult year, production is undoubtedly being threatened.

Technology alone cannot be the savior. IEF research indicated that every dollar of CAPEX that is cut today will have twice as powerful an effect in terms of reducing activity as the cuts made following the 2014 fall in prices had. As demand for oil and gas is expected to increase after COVID, low CAPEX supply will become a major constraint. At the moment, no real new immense oil and gas resource is available to counter demand growth without trillions of investment dollars being poured in.

A peak oil investment crisis is in the making. The current financials of most IOCs and leading NOCs are not accounting for peak investment requirements. As the IEF report clearly states, industry investment will have to rise over the next three years by at least 25% yearly from 2020 levels to stave off a crisis. Peak oil prices also could be a reality if the market doesn’t react. "

Posted by Lewis Lee > 2021-01-13 13:47 | Report Abuse

In short, the oil price will go peak after covid-19 because most oil majors cut capex !
Supply drop, demand UP... oil price UP !!!!! (back to 100 ? maybe !!)

Posted by IronShirt > 2021-01-13 18:38 | Report Abuse

https://finance.yahoo.com/news/handful-penny-stocks-just-made-201440520.html

Penny Stock rise in 2021

Posted by linheng > 2021-01-14 04:09 | Report Abuse

52 Weeks Range: 0.09 - 0.385
Worth a gamble. Downside versus upside. The worse is over.
Oil Price back to Feb 2020 level. Velesto still not yet.

Posted by Macgyver11 > 2021-01-14 11:09 | Report Abuse

No point bro..no matter how loud you shout, bottom line velesto still need to secure more contracts. Their rigs must fully utilize or else doesn't give any significant results..

Posted by sharewiz118 > 2021-01-15 21:50 | Report Abuse

this elephant too heavy to fly

Posted by shark3011 > 2021-01-16 11:03 | Report Abuse

Possible next week,will be back to november price 0.115 before rise again.

Posted by djibaok > 2021-01-19 11:50 | Report Abuse

wait for contract announcement

Posted by koyokui > 2021-01-20 07:29 | Report Abuse

Elon musk reportly buying oil rigs for starships

Posted by Macgyver11 > 2021-01-20 09:55 | Report Abuse

This fella is clean energy guy ma..what hell for he buying oil rigs.

Posted by koyokui > 2021-01-22 09:16 | Report Abuse

https://trib.al/PboHMip?fbclid=IwAR0MBFqVXx5jlww7XwnV2YQ_YO0_i5lF5s1WO_UTw5hVf4FaFKV81C9xADs

Posted by Allantanks > 2021-01-22 13:06 | Report Abuse

When will contracted be announced.

Posted by willc48 > 2021-01-25 02:09 | Report Abuse

most o

Posted by LossAversion > 2021-01-25 09:51 | Report Abuse

Still sleeping... LEMBAB like ??? !!!

Posted by meadow1628 > 2021-01-26 04:38 |

Post removed.Why?

Posted by moneycome123456 > 2021-01-26 14:19 | Report Abuse

Based on Westwood Global’s data, the fall in local rig count appears in tandem with the massive downgrade in local jack-up rig demand by Petronas’ Activity Outlook from 16 to 10 for 2021. The new outlook expects seven and 10 local jack-up rigs for 2022 and 2023, respectively.

PETALING JAYA: Velesto Energy Bhd is anticipated to secure several short-term contracts from the second quarter of 2021, which will help offset potential weak results for the jack-up rig service provider.

UOBKayHian said in a report that Velesto is expected to report losses for the fourth quarter of 2020 and first quarter of 2021, due to falling utilisation as its existing contracts are set to expire.

“Potentially, its earnings before interest, depreciation and amortisation (EITDA) generation may fall significantly for these quarters and our estimate on its EBITDA break-even is at 30% utilisation.

“Nevertheless, we rule out default risk as long as its cash and EBITDA are over RM200mil and with interest cover of more than four times respectively. Maturing term loans in 2020 and 2021 are at RM97mil and RM107mil, respectively. The next major principal repayment is only at the end of 2022.”

UOBKayHian said Velesto’s losses are expected to widen over a three-year period by 13%, 10% and 46%, respectively, from 2021 to 2023.

“This mainly accounts for the change in our US dollar to ringgit assumption from RM4.30 to RM4.05. All other assumptions are unchanged.

“Based on recent developments, we believe our 2020 forecasts, which already factor in a weak fourth-quarter 2020, are largely intact. Velesto’s nine-months 2020 core profit was RM5.5mil.”

For 2021, UOBKayHian said it continues to assume lower average rates, especially for new contracts.

“Our 2021 utilisation forecast assumes Velesto will likely secure five to six short-term contracts that will commence by the second quarter of 2021, but overall we expect the year to be weaker compared with 2020, assuming slow contract rollouts.

“While the first quarter of 2021 may be as weak as the fourth quarter of 2020, we still expect fundamentals to recover from the second quarter of 2021 onwards.”

The research house noted that local active jack-up rig count fell year-on-year from 15 to five in January 2021.

“Based on Westwood Global’s data, the fall in local rig count appears in tandem with the massive downgrade in local jack-up rig demand by Petronas’ Activity Outlook from 16 to 10 for 2021. The new outlook expects seven and 10 local jack-up rigs for 2022 and 2023, respectively.

“The new outlook is reminiscent of Petronas’ 2018 plan. Historically, at the start of the year, rig utilisation and contract flows are slow due to monsoon seasons and these will usually pick up after March or April.”

UOBKayHian said key risks include slower-than-expected awards and higher operating expenditure. “The renewed Covid-19 lockdown is already causing setbacks in the local oil and gas (O&G) industry for contract awards and execution, despite O&G being classified as essential services.”

The research house is retaining its “hold” call on the stock, with a lower target price of 14 sen, compared with 15 sen previously.

Posted by EAGLE > 2021-01-26 15:24 | Report Abuse

everyday high bid volume. Who's buying at low price?

Posted by djibaok > 2021-01-26 20:19 | Report Abuse

AbbahCow Pension & Investment Fund PLT

Posted by meadow1628 > 2021-01-26 21:12 |

Post removed.Why?

Posted by JoshuaMS7 > 2021-01-27 08:28 | Report Abuse

when all the oil gas counters can be started the engine?? :(

Posted by JoshuaMS7 > 2021-01-27 09:22 | Report Abuse

will this company got problem if oil price above 50 usd?

Posted by JoshuaMS7 > 2021-01-27 09:24 | Report Abuse

got project to be announced soon?

Posted by Macgyver11 > 2021-01-27 11:06 | Report Abuse

No doubt that oil price is important but at the end the profit measured by number of rigs utilize. If no contracts then Velesto rigs will be idles for long time and no money generate in even the oil trading at usd 60. Hope for best soon.

Posted by stevenckheng > 2021-01-27 13:42 | Report Abuse

guys among so many upstream energy stocks, which one with the strong cash flow to survive through the hardship ?

Posted by JoshuaMS7 > 2021-01-28 08:53 | Report Abuse

https://oilprice.com/Energy/Energy-General/Oil-Prices-Jump-On-Large-Inventory-Draw.html

Posted by Steady Punpipi > 2021-01-29 07:21 | Report Abuse

Careful.guys another Sapura Energy In the making amid.right issues

Posted by JoshuaMS7 > 2021-01-29 08:08 | Report Abuse

Today might be an announcement for new contract since current oil price above 55 usd!

Posted by Ahmadahmad88 > 2021-01-29 08:10 | Report Abuse

Sapura serba dinamik many contracts also like that.

Posted by JoshuaMS7 > 2021-01-29 08:20 | Report Abuse

haha at least we know the company still got work and will not bankruptcy and wait for MCO ended big rebound!

Posted by koyokui > 2021-01-29 14:30 | Report Abuse

Buy. Velesto to join solar evergy

Posted by JoshuaMS7 > 2021-01-29 16:06 | Report Abuse

ya strong support 0.120!!