Posted by driller71 > 2021-04-01 15:30 | Report Abuse

Rigs currently on contracts = Naga-2, Naga-5, Naga-4, Naga-7 & Naga-8
Rigs not currently on contract = Naga-3 & Naga-6

The question that public don't have the visibility right now is, how long will the rigs on contract to continue be on contract for the next 1 year?

Is it going to be a 1 well deal and then back on stack again? or is it a long term basis? or mid term basis? That will reflect the revenue etc.

Posted by obakh222 > 2021-04-01 15:44 | Report Abuse

Dapat contract pon harga jatuh??? Ni company registered in Bursa Saham Malaysia right???

Posted by bullmarket1628 > 2021-04-01 16:12 | Report Abuse

Oil price continue to spike up like mad !
Brent now at $63.97‪ +1.23 +1.96%‬

Posted by KAQ4468 > 2021-04-01 18:35 | Report Abuse

Cantekkkkkk

Posted by Sentry42069 > 2021-04-02 01:12 | Report Abuse

dead wood counter

Posted by bullmarket1628 > 2021-04-02 08:36 |

Post removed.Why?

Posted by bullmarket1628 > 2021-04-02 08:51 | Report Abuse

Oil price settles up more than US$2 despite OPEC+ production cuts
ENERGY Friday, 02 Apr 2021 
6:33 AM MYT

https://www.thestar.com.my/business/business-news/2021/04/02/oil-price-settles-up-more-than-us2-despite-opec-production-cuts

NEW YORK: Oil prices settled up more than US$2 Thursday despite news that OPEC+ reached a deal to gradually ease production cuts from May.
Brent crude settled up US$2.12, or 3.4%, to $64.86 a barrel. U.S. oil settled up $2.29, or 3.9%, at $61.45 a barrel...

Posted by KAQ4468 > 2021-04-02 10:24 | Report Abuse

Cantekkkkkk

Posted by JuliusCeasar > 2021-04-02 10:32 | Report Abuse

Good sign.....

Posted by driller71 > 2021-04-02 14:43 | Report Abuse

https://oilprice.com/Latest-Energy-News/World-News/Oil-Demand-Boosted-By-Highest-Number-Of-Flights-Since-COVID-Started.html

Posted by matg > 2021-04-02 17:24 | Report Abuse

sabar itu duit.. just hold tight until post covid19

Posted by Masila > 2021-04-02 18:58 | Report Abuse

Velesto the hopeless counter.
No amount of contracts can move it

Posted by Macgyver11 > 2021-04-02 20:13 | Report Abuse

Yah kah...oooo!

Posted by OKU_2220 > 2021-04-03 12:19 | Report Abuse

Masila :

Hopeless counter... then why u still here...
Being a hopeless guy here...

Ha Ha Ha

Posted by Macgyver11 > 2021-04-03 12:49 | Report Abuse

https://oilprice.com/Energy/Energy-General/OPECs-Surprise-Decision-Bodes-Well-For-Oil-Demand.amp.html

Posted by Flybythenite > 2021-04-03 16:49 | Report Abuse

Petronas strikes oil again! :) New opportunities!
https://www.malaymail.com/news/money/2021/03/30/petronas-new-oil-and-gas-discovery-at-offshore-block-sk405b-off-miri/1962240

Posted by Flybythenite > 2021-04-03 16:50 | Report Abuse

https://www.theedgemarkets.com/article/new-oil-and-gas-discovery-offshore-block-sk405b-miri-petronas

Posted by Flybythenite > 2021-04-03 16:52 | Report Abuse

Petronas announces new oil and gas discovery in offshore Miri
Tan Siew Mung
/
theedgemarkets.com

March 30, 2021 09:47 am +08

-A+A
KUALA LUMPUR (March 30): Petroliam Nasional Bhd (Petronas) today announced a new oil and gas discovery in the Sirung-1 wildcat exploration well under the Block SK405B production sharing contract (PSC), located in the shallow waters of the Balingian province, about 237 kilometres off the coast of Miri, Sarawak.

The state-owned oil and gas firm said in a statement that the Sirung-1 exploration well was successfully drilled to a total depth of 2,538 metres in February 2021.

“The discovery of the significant oil and gas column — exceeding 100 metres within the Oligocene to Middle Miocene sandstone reservoirs — further validates the potential of the Balingian province, with remaining prospects yet to be explored,” it said.

Petronas said that PTTEP Sarawak Oil Ltd as the operator holds a 59.5% stake. MOECO Oil (Sarawak) Sdn Bhd holds 25.5%, while Petronas Carigali Sdn Bhd, a subsidiary of Petronas, holds the remaining 15% participating interest in Block SK405B.

The PSC was signed in November 2017 as a result of the Malaysia Bid Round (MBR) 2015.

Petronas vice-president of exploration and upstream Emeliana Rice-Oxley said the Sirung-1 discovery further proves the presence of oil, especially in the under-explored deeper play within the Balingian province.

“This came after similar success in an infill well at the D18 Field. We are well positioned to pursue a similar play in the other two neighbouring blocks in the same province, namely Blocks SK411 and SK306. As such, developing this block and other surrounding areas remains an integral part of Petronas and our partners’ long-term growth plans.

“We are very encouraged by the continued success with our partners in the consecutive discoveries this year in Malaysia and remain optimistic about our exploration activities in 2021,” she said.

For the MBR 2021, Petronas said, it is offering 13 new opportunities in the prolific basins of Malaysia accompanied by enhanced fiscal and non-fiscal terms. The initiative is part of Petronas’ continuous efforts to grow with its partners in Malaysia.

Surin Murugiah

Posted by Flybythenite > 2021-04-03 16:58 | Report Abuse

Velesto to tender for more contracts

ENERGY
Thursday, 25 Mar 2021


“There is an increase in the global oil and gas activities including the drilling sector where a number of contracts have been awarded in the last three months, ” Velesto said.

KUALA LUMPUR: Drilling company Velesto Energy Bhd is hopeful of securing new contracts as it notes that a number of new drilling contracts have been awarded in Malaysia and more tenders are under evaluation.

“The group is participating in most of the tenders, in addition to a number of tenders in Asean.

“There is an increase in the global oil and gas activities including the drilling sector where a number of contracts have been awarded in the last three months, ” it said.

Posted by Flybythenite > 2021-04-03 17:18 | Report Abuse

Gold And Oil Seem To Have Completed Their Correction
By FxPro Financial Services Ltd (Alexander Kuptsikevich)Commodities
Apr 02, 2021 04:17AM ET
Brent once again found support on the downside to its 50-day moving average and gained more than 3% by Thursday's close. Further improvement in the macroeconomic outlook could continue to push the price higher and bring Brent back above $70 in April.
https://www.investing.com/analysis/gold-and-oil-seem-to-have-completed-their-correction-200570947

Posted by Macgyver11 > 2021-04-03 19:01 | Report Abuse

https://m.investing.com/analysis/crude-oil-hits-a-speedbump-why-thats-bullish-for-traders-200570528

Posted by Macgyver11 > 2021-04-03 21:25 | Report Abuse

https://oilprice.com/Energy/Energy-General/Energy-Billionaires-Became-51-Billion-Richer-From-2021-Oil-Rally.html

Posted by EAGLE > 2021-04-04 01:02 | Report Abuse

Hahaha... Burn day traders, burn....

Posted by Macgyver11 > 2021-04-04 07:29 | Report Abuse

Hahaha burn paper money for death ancestors...don't burn real money ya.

Posted by JJchan > 2021-04-05 14:46 | Report Abuse

First time in more than a year Banker's Tp breach 20cents ( HLG= 21c ). As i said before,
there is another 2 contract announcement in April--early May ( from previous time Table
announcement )

Posted by damiantreez > 2021-04-05 15:55 | Report Abuse

Once reach 20 cent, next is to close gap at 26 cent

Posted by damiantreez > 2021-04-05 15:59 | Report Abuse

BIMB TP 26 sen and AffinHwang TP 24 sen

Posted by Macgyver11 > 2021-04-05 16:25 | Report Abuse

Ya pasti mari...

Posted by Macgyver11 > 2021-04-05 18:30 | Report Abuse

Slow & steady

Posted by Macgyver11 > 2021-04-05 21:30 | Report Abuse

https://www.enanyang.my/%E8%A1%8C%E5%AE%B6%E8%AE%BA%E8%82%A1/%E3%80%90%E8%A1%8C%E5%AE%B6%E8%AE%BA%E8%82%A1%E8%A7%86%E9%A2%91%E3%80%91velesto%E8%83%BD%E6%BA%90-%E5%90%88%E7%BA%A6%E6%B5%81%E5%85%A5%E8%AF%84%E7%BA%A7%E4%B8%8A%E8%B0%83

Posted by KAQ4468 > 2021-04-05 23:42 | Report Abuse

Pasti mariiiiii

Posted by KAQ4468 > 2021-04-05 23:42 | Report Abuse

Layan layan

Posted by JuliusCeasar > 2021-04-06 08:57 | Report Abuse

Sound good...

Posted by andybong12 > 2021-04-06 10:11 | Report Abuse

lol got all the good news still not moving, this is not bursa at all

Posted by obakh222 > 2021-04-06 15:26 | Report Abuse

sound of silence la....

Posted by bullmarket1628 > 2021-04-06 15:52 |

Post removed.Why?

Posted by Macgyver11 > 2021-04-06 17:09 | Report Abuse

Price still puzzling at 0.175c..like malay proverb " telur di hujung tanduk", want to go up or go down....hahaha!

Posted by EAGLE > 2021-04-06 18:14 | Report Abuse

Hihihihi... Make short term trader and contra players having stress and possibly heart attack

Posted by Macgyver11 > 2021-04-06 21:38 | Report Abuse

https://www.thestar.com.my/business/business-news/2021/04/06/don039t-goad-malaysia-to-set-too-high-a-target-for-renewable-energy-minister

Posted by Macgyver11 > 2021-04-06 22:05 | Report Abuse

https://www.klsescreener.com/v2/news/view/812027/oil-players-likely-to-turn-capex-tap-on-again

Posted by Macgyver11 > 2021-04-07 17:12 | Report Abuse

Hahaha ..Telur dihujung tanduk. Kasi hantam cukup cukup sama short sellers...huhuhu!

Posted by sheep > 2021-04-07 19:22 | Report Abuse

The Board of Directors of Velesto Energy Berhad (“VEB”) is pleased to announce that Velesto Drilling Sdn Bhd (“VED”), a wholly-owned subsidiary of Velesto Malaysian Ventures Sdn Bhd, which in turn is a wholly-owned subsidiary of VEB (collectively be referred as “VEB Group”), has received a Letter of Award from Sarawak Shell Berhad / Sabah Shell Petroleum Company Limited ("SSB/SSPC") for a contract for the Provision of Jack-Up Drilling Rig Services for Sarawak Shell Berhad / Sabah Shell Petroleum Company Limited for the provision of a jack-up rig services, the approval of which was received today (“Contract”).



The Contract is for VEB’s jack-up rig, namely NAGA 4, with an estimated contract value of USD17.68 million.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3146241

HLG TP 0.21...coming soon....wakakakaka

Posted by bullmarket1628 > 2021-04-07 19:39 |

Post removed.Why?

Posted by bullmarket1628 > 2021-04-07 19:47 | Report Abuse

OTHERS AWARD OF CONTRACT FOR THE PROVISION OF JACK UP DRILLING UNIT FOR 2021-2022 FOR SARAWAK SHELL BERHAD / SABAH SHELL PETROLEUM COMPANY LIMITED
Velesto Energy Berhad

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3146241

Description: AWARD OF CONTRACT FOR THE PROVISION OF JACK UP DRILLING UNIT FOR 2021-2022 FOR SARAWAK SHELL BERHAD / SABAH

1. INTRODUCTION
The Board of Directors of Velesto Energy Berhad (“VEB”) is pleased to announce that Velesto Drilling Sdn Bhd (“VED”), a wholly-owned subsidiary of Velesto Malaysian Ventures Sdn Bhd, which in turn is a wholly-owned subsidiary of VEB (collectively be referred as “VEB Group”), has received a Letter of Award from Sarawak Shell Berhad / Sabah Shell Petroleum Company Limited ("SSB/SSPC") for a contract for the Provision of Jack-Up Drilling Rig Services for Sarawak Shell Berhad / Sabah Shell Petroleum Company Limited for the provision of a jack-up rig services, the approval of which was received today (“Contract”).
 
The Contract is for VEB’s jack-up rig, namely NAGA 4, with an estimated contract value of USD17.68 million.
 
Details of the Contract is summarised below:
2. DETAILS
2.1       Provision of Jack-Up Drilling Rig “NAGA 4”
The VEB Group will assign its NAGA 4 for this Contract. The Contract is to drill seven (7) firm wells with expected commencement date between 15 August 2021 to 15 October 2021.
NAGA 4 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.
3. INFORMATION ON PARTIES
3.1       Information on VED
VED was incorporated in Malaysia under the Companies Act, 1965 on 29 July 2003 and is deemed registered under the Companies Act 2016. VED is principally involved in the offshore drilling business and operations and other engineering services for oil and gas exploration, development and production in Malaysia and overseas.
3.2       Information on SSB/SSPC
SSB/SSPC provides oil and gas exploration and production services. SSB is based in Miri, Malaysia and SSPC is based in Kota Kinabalu, Malaysia. Both SSB/SSPC operates as a subsidiary of Royal Dutch Shell PLC.
4. FINANCIAL EFFECTS
The provision of the above mentioned services is expected to contribute positively to the earnings and net assets of VEB Group during the contract period for the financial year ending 31 December 2021.
5. RISK ASSOCIATED WITH THE CONTRACTS
The risks associated with the execution of the Contract are operational and execution risks, which will be mitigated and/or managed by VED, a company with a proven successful track record of undertaking drilling programmes.
6. DIRECTORS AND SUBSTANTIAL SHAREHOLDERS INTEREST 
None of the Directors and/or the substantial shareholders of VEB and/or persons connected with the Directors and/or substantial shareholders have any interest, direct or indirect in the above Contract.
7. STATEMENT BY DIRECTORS
The Board of Directors of VEB is of the opinion that the acceptance of the Contract herein is in the best interest of VEB Group.
 
This announcement is dated 7 April 2021.

Posted by bullmarket1628 > 2021-04-07 19:52 | Report Abuse

Wow, super good news !
Velesto grabbed a big contract again !

Like that tommorrow Velesto going to limit up
to closed at 0.47 +0.30 +176.5 % already liao lah !

Huat ah, Heng ah, Ong ah !‬

Posted by Flybythenite > 2021-04-07 19:59 | Report Abuse

Great news! Can expect many more to come! :)

Posted by Flybythenite > 2021-04-07 20:04 | Report Abuse

Can’t lockup the world forever! And to travel the world needs OIL and GAS! So OnG is a no brainier buy!

Posted by Jjkcl > 2021-04-07 20:05 | Report Abuse

Yummy

Posted by Macgyver11 > 2021-04-07 20:54 | Report Abuse

Canteeeek!!!

Posted by GreenChair > 2021-04-07 21:05 | Report Abuse

Velesto dapat kontrak dari Shell Malaysia
https://verticalwell.com/velesto-dapat-kontrak-shell-untuk-naga-4/