Posted by driller71 > 2021-03-19 23:50 | Report Abuse

Can ask if you have any queries... if i have time i can answer

Posted by EAGLE > 2021-03-19 23:54 | Report Abuse

driller71 great. thanks!

Posted by anaktodak > 2021-03-20 00:04 | Report Abuse

@driller71, informative. tqvm.

Posted by Macgyver11 > 2021-03-20 08:25 | Report Abuse

Velesto is darling counter for PNB...no worries yaa

Posted by Macgyver11 > 2021-03-20 08:27 | Report Abuse

Brent shows some significant improvement...now 64++. Time to move up. Enjoy the ride.

Posted by Smallretailer > 2021-03-20 09:47 | Report Abuse

We're just waiting when it will go up 50+ cents. This counter is possible. Need a lot of patience

Posted by driller71 > 2021-03-20 10:46 | Report Abuse

When O&G cycle is trending up:
1) Petronas & other oil companies will commit CAPEX to increase or maintain Production. This will mean increase in drilling activities.
2) Drilling rigs demand goes up
3) Petronas' only shareholder is govt of Malaysia.
4) Govt of Malaysia's investing arm is PNB, which owns 60% of Velesto.
5) Petronas' mgmt will look bad if drilling activity increases and they hire foreign rigs while Velesto's rigs sit idle.
6) With current uptrend in Oil prices, Velesto's rigs will have higher priority in Petronas operations compared to foreign flagships.
7) Bottomline, revenue will be coming, which can contribute to profit if Velesto can keep the operating cost down.
8) Velesto is suitable for investment when O&G cycle is trending up.

Posted by SleepingForest > 2021-03-20 11:08 | Report Abuse

Dear drillers, thank you for your information. Its good to have someone from one sector to provide this kind of information .

Thanks

Posted by driller71 > 2021-03-20 11:47 | Report Abuse

No prob bro/sis...I'be been working in the O&G industry almost for 30 years already & I'm "investing" in Velesto. Not trading.

So, I feel the need to provide the correct info to make sure everybody is clear on the facts rather than listening to assumptions.

If someone says something correct as per my knowledge in tbe O&G, I keep quiet lah or I concur. If it's contradict with my knowledge & experience, then I will give my view & opinion.

Not to look down on ppl, but I will listen to a doctor if it involves my health or listen to my mechanic if my car is broken, as I dont have the knowledge in these industries.

Posted by matg > 2021-03-20 12:00 | Report Abuse

buy and keep for at least 1 year can get return profit more than 100%

Posted by Flybythenite > 2021-03-20 12:53 | Report Abuse

Velesto wins contract from Petronas Carigali

ENERGY
Saturday, 20 Mar 2021
https://www.thestar.com.my/business/business-news/2021/03/20/velesto-wins-contract-from-petronas-carigali

The contracts are for the procurement of services of two jack-up rigs, namely Naga 2 and Naga 5, it said in a statement.

KUALA LUMPUR: Velesto Energy Bhd has secured contracts worth US$20.76mil (RM85mil) from Petronas Carigali Sdn Bhd for jack-up drilling services.

The contracts are for the procurement of services of two jack-up rigs, namely Naga 2 and Naga 5, it said in a statement.

Naga 2 is a premium independent-leg cantilever jack-up rig with drilling depth capability of 30,000 feet and has a rated operating water depth of 350 feet.

It has been tasked to drill three firm wells starting May 15.


Meanwhile, Naga 5 has been contracted to drill one well, with an option for another, starting April 1.


Naga is a premium independent-leg cantilever jack-up drilling rig that has a drilling depth capability of 30,000 feet and has a rated operating water depth of 400 feet.

Posted by Flybythenite > 2021-03-20 12:57 | Report Abuse

TA for those who knows how to read! ;)
https://www.thestar.com.my/business/marketwatch/stocks/?qcounter=VELESTO

Posted by JuliusCeasar > 2021-03-20 13:37 | Report Abuse

On Monday should rebound!

Posted by Holickais > 2021-03-20 15:40 | Report Abuse

https://www.theedgemarkets.com/article/velesto-clinches-rm85m-drilling-services-project-petronas-carigali

Posted by Mrtorking > 2021-03-20 16:01 | Report Abuse

alhamdulillah lepas ni harap qr cun pulak

Posted by Smartinvstor > 2021-03-20 17:33 | Report Abuse

Should rebound. As Brent oil price rebound too. Correct?

Posted by Sheng93 > 2021-03-20 18:52 | Report Abuse

Monday queue in early morning..

Posted by nextan > 2021-03-20 21:40 | Report Abuse

Max can rebound 1 cents only

Posted by Lewis Lee > 2021-03-20 22:38 | Report Abuse

ini PKM punya company !!!!

Posted by Lewis Lee > 2021-03-20 22:40 | Report Abuse

semua oil counters sudah berpecut, "very slow" masih tidur !!!!!

Posted by Macgyver11 > 2021-03-20 22:56 | Report Abuse

Skrg tgh warmup...nanti naik laa.

Posted by nextan > 2021-03-21 08:24 | Report Abuse

Ini counter kena makan virgra kalu tak susah mahu naik atau naik pun tak kuat atau sekejap saja....

Posted by bullmarket1628 > 2021-03-21 08:59 | Report Abuse

Velesto wins contract from Petronas Carigali
Saturday, 20 Mar 2021

https://www.thestar.com.my/business/business-news/2021/03/20/velesto-wins-contract-from-petronas-carigali

KUALA LUMPUR: Velesto Energy Bhd
has secured contracts worth US$20.76mil (RM85mil) from Petronas Carigali Sdn Bhd for jack-up drilling services.
The contracts are for the procurement of services of two jack-up rigs, namely Naga 2 and Naga 5, it said in a statement...

Posted by bullmarket1628 > 2021-03-21 09:05 |

Post removed.Why?

Posted by nextan > 2021-03-21 09:35 | Report Abuse

Tonight can dreaming for tomorrow limit up

Posted by JuliusCeasar > 2021-03-21 10:45 | Report Abuse

Can someone share from the passed.... How much the prices goes up whenever VELESTO GET CONTRACT FROM PETRONAS.....

Just be ready for tomorrow trading!

Posted by nextan > 2021-03-21 21:02 | Report Abuse

Don't put too much hope on this stock

Posted by goodview > 2021-03-21 21:18 | Report Abuse

0.01

Posted by Jjkcl > 2021-03-21 21:27 | Report Abuse

Break 0.20 tomorrow onwards

Posted by nextan > 2021-03-21 22:00 | Report Abuse

You think so easy to break 0.20 mei?want to up half cent also very difficult

Posted by OKU_2220 > 2021-03-21 23:45 | Report Abuse

Tomorrow.... start the engine
Prepare to fly...

Posted by amirsyam > 2021-03-22 00:42 | Report Abuse

its is normal for company like Velestro to secure more rigs. nothing impressive regarding contract size. unless its is Rm billions.

Posted by Macgyver11 > 2021-03-22 04:59 | Report Abuse

Hahaha...layan

Posted by ratha52 > 2021-03-22 05:31 | Report Abuse

driller 71 has given a very good explanation on this company's activities. his one point that attract me the very most is that he is not a trader but an investor. thank you very much for the knowledge i gained. as i am also an genuine investor holding from its right issue, i don't want to predict a sudden movement in price to cheat myself for that matter.

Posted by zamsaham > 2021-03-22 09:40 | Report Abuse

crazy, still can goes up

Velesto is bad in managing contract.

with about 0.50% profit margin, not sure who is dumb enough to target 50c for this shitty company

Posted by Flybythenite > 2021-03-22 10:17 | Report Abuse

Velesto job wins could be start of recovery in jack-up rigs space

https://www.thestar.com.my/business/business-news/2021/03/22/velesto-job-wins-could-be-start-of-recovery-in-jack-up-rigs-space

Monday, 22 Mar 2021

9:08 AM MYT

KUALA LUMPUR: There could be an ongoing lift to Velesto Energy Bhd's jack-up rigs utilisation over the next 12 months amid the start of a recovery in the space. Maybank Investment Bank Research said with two job wins in 1Q21, this was the start to a turnaround beginning in 2H21. "For that, we raise our EV/ replacement value to 1x (mean valuation) vs. 0.7x previously (-1SD) to reflect a cyclical recovery outlook. "This equates to a higher TP of MYR0.30 (vs. MYR0.13 previously)," it said while reiterating its "buy" call. It said the group's sub-par financials have already been priced in with upcoming 4Q20 results expected to be poor and the underperformance extending into 1H21 due to low utilisation. The research house has maintained its estimates with utilisation rates of 64%, 60% and 74% for FY20, FY21 and FY22 respectively. Velesto has secured two contracts from Petronas Carigali Sdn Bhd for the provision of jack-up rigs. Naga 2 is assigned to drill three firm wells with expected commencement date between May 15 and June 2021. Naga 5 will drill one firm well with the option of a 1+1 well programme. Naga 5 operations will commence in April 5. All in, the firm contracts minus extension are worth US$20.8mil.

Posted by Flybythenite > 2021-03-22 10:18 | Report Abuse

Buy call from Maybank Invest : TP 30 sen :))

Posted by obakh222 > 2021-03-22 10:31 | Report Abuse

where got buy call lah

Posted by Valgrovest > 2021-03-22 10:39 | Report Abuse

Why latest QR still not out? Supposed to be by end FEB21. Although Bursa allowed extension till end MAR21, most companies with good latest QR already announced results. Why Velesto still delaying the announcement till the last day? Is there wrong with latest QR. I dare not go in until latest QR is out

Posted by Macgyver11 > 2021-03-22 13:14 | Report Abuse

Qtr supposed to be good by the way we look at the transaction. Look at the previous trend normally they will release the qtr after the trading hours especially on last day of trading which is Friday.

Posted by SleepingForest > 2021-03-22 13:27 | Report Abuse

Just buy and put aside . After 6 month $$$

Posted by JuliusCeasar > 2021-03-22 14:44 | Report Abuse

Steady VELESTO......

Posted by SuperPanda > 2021-03-22 15:52 | Report Abuse

qr loss is coming + oil tp 60usd in 2 wks

why buy .18c if can buy .15, all u need is patience

Posted by SuperPanda > 2021-03-22 15:58 | Report Abuse

last year petronas loss 21b, how to give more contracts. if can why only award 2 rigs, should be more

with 3 rigs working, can it be profitable in short term? thats why you should sell at strenght this morning then u can buy back lower later

Posted by matg > 2021-03-22 16:41 | Report Abuse

no need to sell just average down later with holding power.. hahaha

Posted by SuperPanda > 2021-03-22 16:57 | Report Abuse

average down in bearish market is a wrong approach

as market bearish, selling will increase, price will
go lower

when you know price going lower why need to ave down?

Posted by matg > 2021-03-22 17:02 | Report Abuse

if just drop single 1 - 2 cent u conclude market as bearish, just left bro and goto buy ASN/ASB only.. not buying stock lah.. hahah

Posted by Macgyver11 > 2021-03-22 17:08 | Report Abuse

Hahaha, matg layan je...

Posted by Macgyver11 > 2021-03-22 17:09 | Report Abuse

Ada bau hangus...

Posted by obakh222 > 2021-03-22 17:26 | Report Abuse

Very good news as catalyst. Only up half cent.... Whyyyyy?