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

Really no big Deal....Sapnrg had many jack-up (seadrill ) sitting ideal around Sabah area---
Brother and Sister Deal and Same father too (PNB)

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

Rig already sinks in South China Sea to how earn profit?

Posted by JJchan > 2021-05-05 14:32 | Report Abuse

If Velesto secured more contracts in 2021, they have to rent Jack-Up Rig too. Maybe can get
a better Deal from Sapnrg (Seadrill )

Posted by pestariang > 2021-05-05 16:02 | Report Abuse

the price now tilt by -0.01 degree

Posted by pestariang > 2021-05-05 16:36 | Report Abuse

wow this counter really kesayangan PNB till now only drop liltle

Posted by Macgyver11 > 2021-05-05 16:37 | Report Abuse

PNB darling counter lerr

Posted by Macgyver11 > 2021-05-05 16:38 | Report Abuse

Tak ada hal le..Velesto boleh bangun balik.

Posted by pestariang > 2021-05-05 18:49 | Report Abuse

PN17 for what reason?

Posted by Rateofreturn75 > 2021-05-05 20:07 | Report Abuse

Uncertainties for this counter, should stay away until everything more clearer.

Posted by Jjkcl > 2021-05-05 20:27 | Report Abuse

Steady no worries

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

Won't fall much . Velesto is very heavy . Will change +- 0.005 to 0.05 only . Nothing to worry . Of drop should have dropped yesterday or today when the news broke out .

Investors are not selling because the rig is insured more than the write off value . Anyhow velestowull not be in loss .

ConocoPhillips is the one Will be in loss

Posted by mamatede > 2021-05-06 08:30 | Report Abuse

CGS-CIMB really thinks like a shark. But then again the penalty, investigation and reputation is something that is hard to quantify.

Posted by mamatede > 2021-05-06 08:31 | Report Abuse

I donno how conocophillips will be at a lose? when the fault is not with the client and why client must be responsible with your mishap?

Posted by mamatede > 2021-05-06 08:32 | Report Abuse

and the rig is also not operated by conocophillips. since agreement has been signed. Velesto need to compensate conocophillips for not delivering their service. really bad situation.

Posted by pestariang > 2021-05-06 08:58 | Report Abuse

how to do the drilling when the site is declare as catastrophic area.

Posted by obakh222 > 2021-05-06 09:23 | Report Abuse

Stu pid donno how to work. No wonder price is cheap.

Posted by driller71 > 2021-05-06 09:53 | Report Abuse

if Conoco Phillips still wants to drill to the target depth, they can position a new rig at a different location and do a directional drilling.

Posted by pestariang > 2021-05-06 10:14 | Report Abuse

i belived there are 7 rig by velesto. can velesto use the other to do the drilling? if can that mean the income still continue right and supposely no shriking on the income due this incident right?

Posted by driller71 > 2021-05-06 11:18 | Report Abuse

...
some Velesto's rigs are already contracted to Petronas & other operators...some are cold stacked and will take time to reactivate... will have impact on the income from Conoco Phillips & future revenue for sure, it's not a plug & play situation. Only Velesto can clarify this.

Posted by driller71 > 2021-05-06 11:54 | Report Abuse

...
Naga-7 is a premium rig, built in 2015. No idea of Conoco's justifications of hiring Naga-7. Sister rig to Naga-7 is Naga-6 which was built in the same year. Naga-6 was warm or cold stacked before...no idea what's going on now. Will take time to reactivate. Or maybe somebody already hire Naga-6. No news in the industry yet i.e no contract awarded to anybody. As of now, Naga-6 is warm / cold stacked.

Only Velesto can answer this, if you have insider info.

Posted by driller71 > 2021-05-06 12:38 | Report Abuse

...
Keppel FELS B Class in Velesto's fleet can be used...to drill wise...but are there any available right now ready to go in....contractually & rig-readiness I mean.

Also, not sure what Naga-7's additional capability that Conoco requires such as MPD pipework ready or offline capability ready... no idea.

Posted by Macgyver11 > 2021-05-06 15:57 | Report Abuse

Not bad ha...

Posted by Rateofreturn75 > 2021-05-07 15:16 | Report Abuse

Time to make decision, I think KNM will have a better prospect in this case. With a lower number of share and no incident. Will move 50% of investment here to reduce risks of prolong recovery of Velesto. The demand of oil and gas will continue to increase and for sure those oil and gas related should also increase. Including velesto should there is no rig incident, so sad :(

Posted by Macgyver11 > 2021-05-07 16:05 | Report Abuse

Relax velesto can rise back..

Posted by Macgyver11 > 2021-05-07 16:07 | Report Abuse

If ask me I rather choice Armada rather than KNM. KNM politic gimmick. BD banyak kes pecah amanah.

Posted by Rateofreturn75 > 2021-05-07 16:24 | Report Abuse

Armada also ok

Posted by Macgyver11 > 2021-05-07 17:58 | Report Abuse

Not exactly Armada ok or KNM ok. India already suffered from 4th wave of covid. Today 4000 cases recorded so far. This 4000 persons definitely got close contact with someone else...multiply and see. Incubation for covid virus 13/14 days before the symptoms. After or during Raya if govn loosen the SOP then analysis expected case to rise overwhelmingly....believed 2021 will be no different as 2020.

Posted by Rateofreturn75 > 2021-05-07 18:07 | Report Abuse

Macxxx11, I'm not too worry about covid. At least we can estimate that vaccination program is in progress. By Q1 2022 I'm sure that the situation will be better when more population got vaccinated. But we don't know when the Naga 7 will be up and running. Therefore I said knm or armada could be a better choice and worth waiting.

Posted by Macgyver11 > 2021-05-07 18:25 | Report Abuse

https://www.thestar.com.my/business/business-news/2021/05/06/velesto-to-focus-on-sunken-naga-7-rig-recovery-efforts

Posted by Macgyver11 > 2021-05-07 18:27 | Report Abuse

They're working on it...with latest art of technology, I think nothing is impossible...

Posted by Macgyver11 > 2021-05-07 18:38 | Report Abuse

All the cost from bring up the naga 7 to the surface until maintenance/overhaul work will be borne by insurance company...correct me if I'm wrong. Contract with ConocoPhillips still on...

How fast...that's the question??

Let see how...

Posted by Macgyver11 > 2021-05-07 18:40 | Report Abuse

I hope all the other rigs can get contracts and can fully utilize...eeemmm

Posted by Macgyver11 > 2021-05-07 18:50 | Report Abuse

Remember, Beneath the sunken naga 7 is huge deposit of high quality crude oil.

Posted by limitupmeh > 2021-05-08 09:07 | Report Abuse

kaki patah claim sahaja insurance

Posted by bullmarket1628 > 2021-05-10 07:16 | Report Abuse

Oil price spike up like mad due to Ransomware attack that forces shutdown of largest fuel pipeline in the U.S !

https://www.cnbc.com/2021/05/08/colonial-pipeline-shuts-pipeline-operations-after-cyberattack.html

Posted by bullmarket1628 > 2021-05-10 07:21 | Report Abuse

OIL MARKET: The shutdown of America’s largest fuel pipeline after a cyberattack is threatening to send gasoline prices to the highest in seven years as suppliers work to stave off shortages from Atlanta to New York with tankers and barges | https://www.bloomberg.com/news/articles/2021-05-09/u-s-fuel-sellers-scramble-for-alternatives-to-hacked-pipeline?utm_source=twitter&utm_content=business&utm_campaign=socialflow-organic&utm_medium=social&cmpid=socialflow-twitter-business&sref=jWl1ohaY

Posted by Jjkcl > 2021-05-10 07:54 | Report Abuse

Super up

Posted by bullmarket1628 > 2021-05-10 15:16 |

Post removed.Why?

Posted by bullmarket1628 > 2021-05-10 15:19 |

Post removed.Why?

Posted by bullmarket1628 > 2021-05-10 15:30 |

Post removed.Why?

Posted by rypien > 2021-05-10 15:53 | Report Abuse

run run... kaki sudah patah...

Posted by pestariang > 2021-05-10 16:11 | Report Abuse

safe yourself the board are coming. it will be safely landed for 101

Posted by bullmarket1628 > 2021-05-10 16:43 |

Post removed.Why?

Posted by bullmarket1628 > 2021-05-10 16:53 | Report Abuse

Yes, Armada closed at 0.45 +0.025 +5.9%
Like that tommorrow onwards confirm O&G theme is coming and will spike up like mad already liao lah !

Huat ah, Heng ah, Ong ah !

Posted by bullmarket1628 > 2021-05-10 16:56 | Report Abuse

Yes, Hibiscus closed at 0.685 +0.03 +4.6%
Like that tommorrow onwards confirm O&G theme is coming and will spike up like mad already liao lah !

Huat ah, Heng ah, Ong ah !

Posted by hisaishi > 2021-05-10 16:57 | Report Abuse

ini bullmarket1628 stucked at 2ringgit ka?

Posted by Jinglebell > 2021-05-10 16:58 | Report Abuse

Dun be silly la ,oil theme onli hengyuan n petronm,tis velesto onli can buy below 0.12 dun jadi water fish.

Posted by Rateofreturn75 > 2021-05-10 17:27 | Report Abuse

Velesto will need time to recover, maybe next 2-3 years. I'm happy managed to offload 50% last week. For those who have the holding power, you can continue to hold.

Posted by Rateofreturn75 > 2021-05-10 17:29 | Report Abuse

Armada and Knm slowly coming!

Posted by Jinglebell > 2021-05-10 17:32 | Report Abuse

Yeah banker offload at 0.165-0.15 n water fish investor keep on collect think will rebound soon ,0.12 kebawah baru masuk la bijak sikit