Posted by blackul66 > 2015-08-24 09:22 | Report Abuse

more than 100 mil usd per jackup rig, but i am only trolling, hahaha. But our GOV did convert one of the rig to a forward base in Sabah waters

Posted by nice1 > 2015-08-24 09:40 | Report Abuse

a rig is almost similar price to a boeing jet 737

Posted by alphajack > 2015-08-25 22:03 | Report Abuse

http://www.theedgemarkets.com/en/article/umw-oil-gas-warns-low-oil-price-impact-fy15-performance

50 cents next...cut loss now guys or be prepared for the worst

Posted by nice1 > 2015-08-26 06:54 | Report Abuse

GEORGE TOWN (Aug 25): UMW Oil & Gas Corp Bhd (UMW-OG) ( Financial Dashboard) saw its net profit plunge 92.6% to RM4.46 million or 0.21 sen per share for the second quarter ended June 30, 2015 (2QFY15), from RM60.31 million or 2.79 sen per share a year ago, on lower contributions from both the drilling services and oilfield services segments.

Revenue for 2QFY15 dropped 23.2% to RM183.37 million, from RM238.78 million in 2QFY14. Overseas operations contributed 50.5% to the group's revenue in 2QFY15.

In a filing with Bursa Malaysia today, UMW-OG said 94.8% of the group’s overall revenue was derived from the drilling services segment in 2QFY15, which was a decline of RM53.4 million or 23.5% over 2QFY14.

“The reduction was due to lower time charter rates, lower utilisation of some of our assets in 2QFY15, and translation gains from the appreciation of the US dollar to the ringgit,” it said.

The decrease was also due to additional operating expenses from its new offshore premium jack-up rig, UMW NAGA 7, which has yet to secure a contract.

In the oilfield services segment, reduced revenue was recorded from the oil country tubular goods (OCTG) threading and repair services operations in Labuan and China.

For the cumulative six months (1HFY15), UMW-OG posted a 67.9% decline in net profit to RM36.61 million, from RM113.99 million in 1HFY14.

Revenue for 1HFY15, however, rose 14.2% to RM495.87 million, from RM434.35 million in 1HFY14, on improved revenue contributions from the drilling services segment. Overseas operations contributed 58.7% to the group's revenue for the six-month period.

Going forward, UMW-OG warned its performance for the financial year ending Dec 31, 2015 (FY15) will be adversely affected by current low oil prices.

It noted that the financial performance of the drilling services segment for the remaining period of 2015 is expected to be significantly affected, in terms of revenue and profit.

"With oil prices remain[ing] low and showing little sign of recovery in the near future, major oil and gas companies continue to trim drilling budgets and postpone drilling plans. Time charter rates remain under pressure in a highly competitive environment, where rig supply far outnumbered demand.

"Rigs utilisation for the remaining period is expected to deteriorate further, as more rigs are completing their existing contracts," it added.

The performance of the oilfield services segment is also likely to be negatively affected by the current oil price cycle, as demand for OCTG threading and repair services is expected to decline in 2HFY15.

UMW-OG shares rose one sen or 1.11% to close at 91 sen today, giving it a market capitalisation of RM1.94 billion.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
http://www.theedgemarkets.com/my/article/umw-oil-gas-warns-low-oil-price-impact-fy15-performance

Posted by nice1 > 2015-08-26 07:02 | Report Abuse

EPS for 2Q dropped 0.21 (half year EPS 1.69 Vs preceding year 5.27)

Whole year EPS likely around 3 cts or lower, 70% down from last year
Next year, can be worst if oil price remain low, even losses

brace for bad period

Posted by nice1 > 2015-08-26 08:28 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4844261

Posted by blackul66 > 2015-08-26 08:40 | Report Abuse

i was wrong about UMWOG, no need to wait until next year for 4Q result, even now can propel UMWOG below 50c....

Posted by nice1 > 2015-08-26 09:07 | Report Abuse

blackul66, at what is you are interested in this?

Posted by blackul66 > 2015-08-26 09:09 | Report Abuse

to be honest, i am will to buy a small portion below 50c, and the rest tumpang on the way up when really crude oil picks up and PCSB start to intensify their upstream activities

Posted by HappyHour > 2015-08-26 11:30 | Report Abuse

Q2 results are inclusive of partial contributions of 3 rigs, but their contracts expired in May and June 2015. Hence Q3 results are expected to be much worse as only 2 rigs are in operation, at very low day rate. Six rigs will be idling and collecting dust

Posted by Jolin Lai Chi Pet > 2015-08-26 12:34 | Report Abuse

almost faint after result out!!!!!!!!!!!!!

Posted by blackul66 > 2015-08-26 13:31 | Report Abuse

i feel sorry for the UMWOG rig crew, it is not that easy to get a job in other drilling contractor as well, as not much drilling activities except at middle east, but over there they need to compete with cheaper rig crew from india, pakistan,philipine & china...to all UMWOG brothers , stay strong guys, hopefully next year condition improves

Posted by nice1 > 2015-08-26 13:32 | Report Abuse

3Q result is going to be worst than 2Q

Posted by mamakkutty > 2015-08-26 14:29 | Report Abuse

naga to move inland drill water well.

Posted by cck8999cck8999 > 2015-08-26 20:08 | Report Abuse

Lai Chi Pet ,go back to hubline forum ,many of them waiting to screw u up side down.

Posted by stainlyho37 > 2015-08-27 16:40 | Report Abuse

break 1.00..may go 1.20....bot some & keep looo

Posted by Oil_n_Gas > 2015-08-28 09:53 | Report Abuse

EPS only 0.21sen in latest QR why people chase?

Posted by vzcb1t > 2015-08-29 22:13 | Report Abuse

Anybody heard about this "fracking" technology ? US is good at fracking technology and the cost of crude oil per barrel is cheap. China as the major oil importer is downtrend on their economy. Iran, now enter the market. The whole world is flooded with cheap oil now and the oil price will not be up for a long time. I just done my research and decide to cut lost. It is a bleeding experience. You have to do your own research and don't trust the analyst. I was hesitated whether to cut lost on May this year and some article from an analyst who still recommended "hold" call on May this year caught my attention, TP RM2.70. If I cut lost on May, I will not be bleeding so badly. Those analysts are paid. Therefore they very seldom recommend "sell". Whenever there is a "sell" call, then is Holland. I think the downstream servicing companies are safer if you reallly like oil and gas sector. UMWOG has good management. But the world is going down trend now and we can't do anything about it. OIl price will be downtrend unless there is a drastic situation (ie:war at major oil producing country).

Posted by Jc > 2015-09-02 16:35 | Report Abuse

Yes i have heard of fracking but it is said that production cost is USD 40 per barrel. However overall O&G sectors are in for a challenging times ahead. So, the option for this counter is cut losses or become a very very long term investor....hehehe

Posted by win2win > 2015-09-07 17:11 | Report Abuse

why this thread so quite?

Posted by ampabella > 2015-09-07 21:48 | Report Abuse

ham chin pang leow

Posted by win2win > 2015-09-08 10:25 | Report Abuse

what does it mean?

Posted by otai7111 > 2015-09-09 17:37 | Report Abuse

parent company is collecting....

Posted by stainlyho37 > 2015-09-11 16:57 | Report Abuse

ok...after Armada..next week UMWOG.....watch out.....

Posted by win2win > 2015-09-14 14:01 | Report Abuse

ValueCap revived with RM20b to support local stock market

Posted by win2win > 2015-09-14 14:01 | Report Abuse

http://www.therakyatpost.com/business/2015/09/14/valuecap-revived-with-rm20b-to-support-local-stock-market/

Posted by win2win > 2015-09-15 09:40 | Report Abuse

UMW oil and gas is one of the government linked companies! 20 billion ringgit will be injected soon!

Posted by Jc > 2015-09-15 11:08 | Report Abuse

Finally some light at the end of a long and dark tunnel........up up & away!!!

Posted by Witty Exciting Revolutionize Daily > 2015-09-15 11:14 | Report Abuse

fatty cant run long...sikit sikit sudah lelah. mungkin jerebu pasal

Posted by supernova > 2015-09-15 11:16 | Report Abuse

undervalue counter, wat can i say more

Posted by ufis > 2015-09-15 13:16 | Report Abuse

co said financials wd get worse for fy 2015..

but bearish chart reads as follows-
the 1st selling climax was at 2.10 aver (from a high of 4.50)..rebounded to 2.80..
the 2nd selling climax was at aver 1.00 recently..
just put 1 leg inside yesterday at 1.085 aver..will take some goreng from 1.12 - 1.25..
if 1.25 is cleared, will put my 2nd leg n balls in too for the trot to 1.75 -2.00...why??
beats me!! maybe oil rebounds .> USD50..or the big boys wanna play
doesnt matter to me as rewards at this juncture worth the risks..

Posted by 3stan > 2015-09-15 14:16 | Report Abuse

Ufis in d?

...was waiting for retracement a bit...

Posted by ufis > 2015-09-17 10:25 | Report Abuse

2nd leg in..n BALLS too in already !!!!
yummy.....

Posted by kleboy > 2015-09-17 15:45 | Report Abuse

OPEN EYES

Posted by feifun > 2015-09-18 09:47 | Report Abuse

drop 2/3 from the highest RM3.92, good to accumulate for long term investment

Posted by riff > 2015-09-18 19:06 | Report Abuse

@feifun then why EPF kept disposing? Most of the rigs owned by UMWOG is not suitable to be in operation due to low crude oil price, cant even reach break even level...

Posted by ufis > 2015-09-21 15:52 | Report Abuse

SOLD all at 1.30 average..not bad returns.for a trading position..
will move in again when opportunity presents itself..
so so yummy!!!!!

Posted by win2win > 2015-09-21 16:04 | Report Abuse

time to accumulate more!!

Posted by 3stan > 2015-09-21 16:04 | Report Abuse

Fast kill again Mr Ufis...

Posted by Konoyaro > 2015-09-28 16:35 | Report Abuse

hati2 jangan kena lagi.kiki

Posted by blackul66 > 2015-09-29 16:16 | Report Abuse

fast kill today

Posted by JT James > 2015-09-30 00:56 | Report Abuse

TP 0.65. Will start collect once drop to that range.

Posted by apanama > 2015-09-30 01:40 | Report Abuse

will rise back..wow 0.65 is too low..with crude anticipate to test USD 50..it will in fact test RM 1.20-RM 1.30

Posted by blackul66 > 2015-10-01 09:02 | Report Abuse

since when umwog is related to crude oil price one, crude testing usd 50//bbl doesnt mean suddenly petronas will increase upstream capex, and they get their drilling contract again

Posted by ufis > 2015-10-07 09:26 | Report Abuse

reloaded..1st leg in at 1.17..
wakakaikiii

Posted by ufis > 2015-10-07 12:58 | Report Abuse

BOTH legs in with aver cost at 1.20....
balls reserved should it be able to cross 1.35 this round..
so so yummy already...
wakakaikiiiiii

Posted by ufis > 2015-10-07 18:53 | Report Abuse

1.31 close??? so so easy n sweet!!!
down, flat or up..i play!!!..opportunity reopens..
wakakakikiii

Posted by ufis > 2015-10-09 09:19 | Report Abuse

my 2 BALLS in already!!
what a play!!!
wakakaikiii

Posted by rockycleft > 2015-10-10 12:05 | Report Abuse

The Russians gonna bomb the crude price to the moon.....? If so, HUAT ahhh....

Posted by rockycleft > 2015-10-12 10:00 | Report Abuse

I sai Lang .....(all in)! Hehehe.....