Posted by JoshuaMS7 > 2021-05-04 10:29 | Report Abuse

walao dropping!! cut loss!!

Posted by driller71 > 2021-05-04 10:35 | Report Abuse

Naga-7 already sank

Posted by driller71 > 2021-05-04 10:36 | Report Abuse

if only I can attach photos in here....haha

Posted by inikalilah888 > 2021-05-04 10:36 | Report Abuse

koyak

Posted by driller71 > 2021-05-04 10:36 | Report Abuse

now Naga-7 has become an artificial reef for aquatic animals

Posted by shokunin108 > 2021-05-04 10:38 | Report Abuse

that's bad. impact will be very bad for velesto

Posted by driller71 > 2021-05-04 10:39 | Report Abuse

Thank God all crew are rescued and safe....that's the main point

Posted by DoomStock > 2021-05-04 10:42 | Report Abuse

Careful now, folks!

NAGA 7 - Jack Up Drilling Rig owned by Velesto Energy Bhd. CONOCO PH drilling project .. near to KIKEH deep water

https://www.facebook.com/735543803245641/posts/2241898892610117/?d=n

Posted by sheep > 2021-05-04 10:42 | Report Abuse

wont go up anytime but down most likely....wakakakaka

Posted by sheep > 2021-05-04 10:45 | Report Abuse

claim insurance will take few years....wakakaka

Posted by driller71 > 2021-05-04 10:47 | Report Abuse

true...investigation will take time...plus the rig is now submerged... insurance claim will be years...and if there's any drilling rig crew error during preloading of the rig prior to operation that caused the rig to punch through and sink, then there's no way insurance will pay.

Posted by sheep > 2021-05-04 10:50 | Report Abuse

contract for naga 7 might be terminated and all naga rigs might undergo checks ... extra expenses incurred

Posted by sheep > 2021-05-04 10:52 | Report Abuse

hope big funds supporting it...

Posted by djibaok > 2021-05-04 10:59 | Report Abuse

sikitt punya sial ke kah kah kahhhh

Posted by DoomStock > 2021-05-04 11:16 | Report Abuse

Naga7 now under the sea. Major loses as ongoing & future contracts can’t be fulfilled.

Posted by Expertise > 2021-05-04 11:31 | Report Abuse

Yup spread more fear news, happy to collect more,haha

Posted by Expertise > 2021-05-04 11:33 | Report Abuse

Delicious 145cts tp reach....

Posted by DoomStock > 2021-05-04 11:36 | Report Abuse

Careful now folks!

https://www.facebook.com/568216023189352/posts/5655371627807074/?d=n

Posted by DoomStock > 2021-05-04 11:40 | Report Abuse

0.095 in the making..slowly & surely. Be extra careful now folks!

Posted by sheep > 2021-05-04 11:41 | Report Abuse

total loss...can claim total loss...wakaka

Posted by Expertise > 2021-05-04 11:41 | Report Abuse

Velestro only 1 rig perform business??

Posted by Expertise > 2021-05-04 11:43 | Report Abuse

Better let it sink and claim insurance, no need follow up much

Posted by driller71 > 2021-05-04 11:45 | Report Abuse

if evidence clearly show that it's all due to rig crew error, will the insurance pay Velesto?

Posted by driller71 > 2021-05-04 11:46 | Report Abuse

so, investigation will take some time... i think it'll be years before decision to pay or not

Posted by driller71 > 2021-05-04 11:47 | Report Abuse

Naga-7 mishap will reduce future short term revenue....it'll be an instant impact. Insurance payment will not be instant impact

Posted by hisaishi > 2021-05-04 11:48 | Report Abuse

Current tender bid untuk 24 contracts total value 2.9bil..

Posted by driller71 > 2021-05-04 11:50 | Report Abuse

PNB owns 60% of Velesto....now PNB also pening kapala, an asset gone

Posted by koowakzai > 2021-05-04 12:20 | Report Abuse

With 1 asset gone. There will be write off or impairment. Thing doest look good on velesto.

Posted by driller71 > 2021-05-04 12:22 | Report Abuse

agreed

Posted by Tesla > 2021-05-04 13:01 | Report Abuse

don't touch this counter and sapnrg. hugh impairment coming! lawsuit will take years to claim back the losses.

Posted by Rateofreturn75 > 2021-05-04 13:23 | Report Abuse

New TP0.11

Posted by Rateofreturn75 > 2021-05-04 13:24 | Report Abuse

Better cut loss and change to more stable counter like knm which also very cheap now.

Posted by UlarSawa > 2021-05-04 13:39 | Report Abuse

Naga 7 tenggelam. Maybank immediately sell call TP 11sen. Like this have to wait. Correct?

Posted by SuperPanda > 2021-05-04 13:39 | Report Abuse

sell first think later, why buy drowning ship when you have rocket to ride around
_______
Expertise Delicious 145cts tp reach....
04/05/2021 11:33 AM

Posted by Tesla > 2021-05-04 13:50 | Report Abuse

take profit, switch to KNM. 0.185

Posted by sheep > 2021-05-04 14:20 | Report Abuse

how come the counter not suspended for an official announcement? let some disposed of their holding first then suspend for two hours? wakakakaka

Posted by Rateofreturn75 > 2021-05-04 14:21 | Report Abuse

Cut lost for some 5-10% it's okay rather than 50-60% or even higher loses for next 3 years. Sell and buy back later when it hit bottom.

Posted by JuliusCeasar > 2021-05-04 14:30 | Report Abuse

Aiyooo! Can't believe this...... Good news on oil price but other things happened..... Very very bad.....

Posted by DoomStock > 2021-05-04 14:51 | Report Abuse

TP 0.095 for now.

Will be even lower (Tp 0.055) after the next 2Q financial result announcement as the impact of Naga 7 will be felt.

Careful now, folks!!

1. Naga7 under water.
2. Zero utilisation for Naga 7 from May 2021 pending updates on the rig’s operability.
3. Ongoing & future contracts will be affected.
4. Earnings will be deeply affected with zero utilization of Naga 7.
5. High costs incurred to salvage Naga7 & to make it seaworthiness which will take at least 2 years & this remain to be seen.
6. Time to sell & move on.

Posted by hadek tam > 2021-05-04 14:53 | Report Abuse

Kuala Lumpur: Velesto Energy Berhad mengesahkan pelantar minyak Naga 7 tenggelam akibat kaki sokongan terbenam dengan begitu pantas pada Isnin.
Menurut kenyataan syarikat itu kepada Bursa Malaysia, pelantar itu tenggelam sepenuhnya pada 4 Mei (hari ini).
"Kejadian berlaku ketika pelantar Naga 7 sedang beroperasi untuk pelanggan mereka di Sarawak. Aktiviti cari gali belum dimulakan dan telaga juga belum digali," katanya.

Posted by hadek tam > 2021-05-04 14:54 | Report Abuse

Velesto turut mengesahkan kesemua krew selamat dan dipindahkan ke Miri, Sarawak.
"Syarikat sedang menyiasat dan menilai pilihan yang ada. Pelantar ini dilindungi oleh insurans dan usaha pemulihan sedang dijalankan serta dipantau rapat," katanya. https://www.astroawani.com/berita-malaysia/kaki-sokongan-terbenam-punca-naga-7-tenggelam-296364?fbclid=IwAR3ug23L20BajOswdIbHmLm_mKMOabpjOp1WReUB0w9S-smBICxc7LswGwI

Posted by Flybythenite > 2021-05-04 15:03 | Report Abuse

OMG I just read! OMG!

Posted by Flybythenite > 2021-05-04 15:08 | Report Abuse

Covered by insurance right?

Posted by Flybythenite > 2021-05-04 15:09 | Report Abuse

Going up! Good! Not Velesto fault! It’s Accident!

Posted by Flybythenite > 2021-05-04 15:10 | Report Abuse

I’m sure Velesto has more than just one rig! Haizz why la fall until 0.145 just now!

Posted by Flybythenite > 2021-05-04 15:11 | Report Abuse

Up up up!

Posted by driller71 > 2021-05-04 15:12 | Report Abuse

If it happens due to human error during pre-loading...will the insurance pay?
still under investigation...

Posted by obakh222 > 2021-05-04 15:22 | Report Abuse

Oil rig bole tenggelam? ?????

Posted by Flybythenite > 2021-05-04 15:22 | Report Abuse

And if it’s not Velestos fault? Think positive la!

Posted by Flybythenite > 2021-05-04 15:24 | Report Abuse

Insurance cover the rig + all revenue loss ?