Posted by SleepingForest > 2021-09-14 20:09 | Report Abuse

Oil counter not for contra players .. its for long term player .. after oct cannot get this price

Posted by bullmarket1628 > 2021-09-15 07:55 |

Post removed.Why?

Posted by Bgt 9963 > 2021-09-15 08:58 | Report Abuse

Oil bullish...

Posted by koyokui > 2021-09-15 09:17 | Report Abuse

Buy oil spike

Posted by Expertise > 2021-09-15 12:11 | Report Abuse

Are you ready….once break usd80 will spike to usd 100 by winter

Posted by Macgyver11 > 2021-09-15 21:37 | Report Abuse

Wow! Oil super uptrend.

Posted by Allantanks > 2021-09-15 22:08 | Report Abuse

Tmr fly

Posted by Up Slowly Better La > 2021-09-15 22:55 | Report Abuse

RM 1 by next year if everything back to normal !

Posted by Macgyver11 > 2021-09-17 15:52 | Report Abuse

To buy when others are despondently selling and to sell when others are avidly buying

Posted by Macgyver11 > 2021-09-17 16:05 | Report Abuse

I'm waiting for that magical spark to ignite...maybe soon.

Posted by Shines > 2021-09-17 18:31 | Report Abuse

No point le, oil up share price down

Posted by Macgyver11 > 2021-09-17 19:31 | Report Abuse

(Kuala Lumpur, 17th) VELESTO Energy (VELESTO, 5243, main board energy stock) announced the termination of two jack-up drilling leasing contracts with an expected loss of approximately US$8 million (approximately RM33.36 million) in profit.

VELESTO Energy stated in a statement that the two contracts were awarded to Velesto Drilling by CONOCOPHILLIPS Sarawak and CONOCOPHILLIPS Sarawak on March 26 this year to provide jack-up drilling rig contracts. VELESTO NAGA 7 was originally scheduled to be used in this contract.

However, VELESTO NAGA 7 sank off the coast of Sarawak in early May. The insurance company insured by Velesto Drilling has confirmed the total loss on the drilling platform on August 9.

According to the contract, if it is recognized as a total loss, the contract will be deemed terminated from the time the loss occurs. With the termination of the contract, the management also expects that the profit for the 2021 fiscal year (closing on December 31) will therefore decrease by US$8 million.

Posted by Macgyver11 > 2021-09-17 19:37 | Report Abuse

Price react to this news today....

Posted by Macgyver11 > 2021-09-17 20:02 | Report Abuse

Two things need to consider here:-

1. Velesto no need to pay for contract termination to ConocoPhillips as the insurance company released the report and solely agreed that naga 7 incident as total loss and not Velesto engineering faults.

2. Since the insurance company agreed that naga 7 incident is natural disaster, then the insurance compensation claim for naga 7 total loss is likely very high and possible now (total 400mil of compensation claim)

3. 33mil decreased in 2021 fiscal year vs 400mil insurance compensation.

Just my wild guess. Tayor

Posted by sheep > 2021-09-17 20:19 | Report Abuse

Loss of Naga 7 means loss of future earnings for many more years...still negative to me..
Next qr will be dampened...wakakakaka

Posted by bullmarket1628 > 2021-09-18 08:09 | Report Abuse

泰2022或全面开放 打两针免隔离.
就等大马亮绿灯
独家报道: 王义展
攝影: 陈友晋

https://www.kwongwah.com.my/20210917/泰2022或全面开放-打两针免隔离·就等大马亮绿灯/

Posted by Macgyver11 > 2021-09-18 12:40 | Report Abuse

https://www.klsescreener.com/v2/news/view/882151/brighter-outlook-for-malaysia-s-oil-and-gas-sector

Posted by rictan10 > 2021-09-22 21:27 | Report Abuse

What kind of counter is this? World oil prices goes up but it shares always down! Everytime this bullmarket1628 yelled huat,heng, ong for what???

Posted by koyokui > 2021-09-24 09:28 | Report Abuse

Buy oil up maybe go new high

Posted by koyokui > 2021-09-24 10:30 | Report Abuse

Buy velesto secured project

Posted by Macgyver11 > 2021-09-24 11:26 | Report Abuse

0.30 mari

Posted by Allantanks > 2021-09-24 13:56 | Report Abuse

torturing counter， holding one year plus, Brent price triple, project granted, still losing money. So good bursa.

Posted by JuliusCeasar > 2021-09-27 09:37 | Report Abuse

Good sign this morning! It's now change direction to uptrend. Hopefully its continue till end of this week.

Posted by Expertise > 2021-09-27 09:39 | Report Abuse

Today anytime oil will touch usd80 bpd

Posted by JuliusCeasar > 2021-09-27 09:43 | Report Abuse

Could be buyers are expected new rig contracts to be released this week. Higher oil price if hit USD 80 is not the main factor since other O&G counters are not responding to the higher oil price.

Posted by koyokui > 2021-09-27 14:36 | Report Abuse

Buy covid case decresing. Oil up 3 years high

Posted by JuliusCeasar > 2021-09-27 14:45 | Report Abuse

Look like Sharks are buying this share at 14.5 cent. Uptrend now!

Posted by bullmarket1628 > 2021-09-27 14:49 | Report Abuse

Bursa Energy Index up the most as oil prices hit three-year highs
TheEdge Mon, Sep 27, 2021 10:40am - 4 hours ago View Original
https://www.klsescreener.com/v2/news/view/885487/bursa-energy-index-up-the-most-as-oil-prices-hit-three-year-highs

Posted by bullmarket1628 > 2021-09-27 14:49 | Report Abuse

KUALA LUMPUR (Sept 27): Bursa Malaysia’s Energy Index rose as much as 19.78 points or 2.78% to 731.32 this morning, becoming the top percentage gainer among bourse gauges, after oil prices hit three-year highs.
At 10.19am, the index, which tracks share prices of oil and gas (O&G) related companies, settled at 727.82, still up 16.28 points or 2.29%.
KNM Group Bhd, which was the most actively traded stock, gained as much as 2.5 sen or 10.87% to 25.5 sen.
At 10.19am, the counter had pared some gains at 25 sen, still up two sen or 8.7%, with 73.69 million shares traded.
Meanwhile, Bumi Armada Bhd increased by one sen or 2.27% to 45 sen; Perdana Petroleum Bhd grew half a sen or 4.35% to 12 sen.
Reuters reported that oil pushed past its July peaks as global output disruptions forced energy companies to pull large amounts of crude out of inventories, while a shortage of natural gas in Europe pushed costs up across the continent.
At the time of writing, Brent crude oil had added US$1.26 to US$79.35 (about RM332) a barrel, while West Texas Intermediate crude was US$1.21 higher at US$75.19.
""Supply tightness continued to draw on inventories across all regions," ANZ Research said in a note quoted by Reuters.
Rising gas prices also helped drive oil higher as the liquid became relatively cheaper for power generation, ANZ analysts said in the note.

Posted by Expertise > 2021-09-28 09:27 | Report Abuse

Good news announce soon,buy before miss the boat…

Posted by bullmarket1628 > 2021-09-28 09:29 |

Post removed.Why?

Posted by JuliusCeasar > 2021-09-28 09:41 | Report Abuse

Steady VELESTO!

Posted by JuliusCeasar > 2021-09-28 11:57 | Report Abuse

Otw up now! Sharks / Syndicates are back. Hooray!!

Posted by Macgyver11 > 2021-09-28 12:14 | Report Abuse

Brent usd 80 now

Posted by Expertise > 2021-09-28 12:15 | Report Abuse

Energy sector will be hot topic now….

Posted by hisaishi > 2021-09-28 14:22 | Report Abuse

have to break 82, then velesto fly .. highest since 2014

Posted by bullmarket1628 > 2021-09-28 14:57 |

Post removed.Why?

Posted by Up Slowly Better La > 2021-09-28 17:15 | Report Abuse

Velesto baby, when u start to move :3

Posted by koyokui > 2021-09-30 15:44 | Report Abuse

Buy velesto already 3 round makan. Cannot afford to drop

Posted by roslaom > 2021-09-30 21:57 | Report Abuse

Undecided. Can go either north or south.

Posted by koyokui > 2021-10-01 10:53 | Report Abuse

Oil 75 usd. Velesto que at .14. Better go up. Or profit to me

Posted by JuliusCeasar > 2021-10-01 14:58 | Report Abuse

Jack-up drilling rig job new contract? Suddenly no news announced in September. Today already 1st Oct...... Hmmmmmm!

Its a bad sign!

Posted by JuliusCeasar > 2021-10-01 18:36 | Report Abuse

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3197766

Hmmmmmm......... Let's see on next Monday.

Posted by Expertise > 2021-10-01 19:29 | Report Abuse

north or south

Posted by amirsyam1001 > 2021-10-01 20:04 | Report Abuse

south please.

Posted by Macgyver11 > 2021-10-01 21:51 | Report Abuse

At least there's some good news after this new contract announcement but just wondering why Velesto always deploy naga 2, naga 5 and naga 4...what happen to other rigs like naga 3, naga 6 & naga 8... Are those rigs reserve for up coming new contracts..eem!

Posted by Macgyver11 > 2021-10-01 21:53 | Report Abuse

Or the rigs specification is different....

Posted by Macgyver11 > 2021-10-02 05:06 | Report Abuse

https://www.google.com/amp/s/oilprice.com/Energy/Oil-Prices/Bank-Of-America-Energy-Crunch-Could-Lead-To-100-Oil-And-Economic-Crisis.amp.html

Posted by bullmarket1628 > 2021-10-02 09:37 | Report Abuse

Announcement details
OTHERS LETTER OF AWARD FOR THE PROVISION OF JACK-UP DRILLING RIG FOR PETRONAS CARIGALI DRILLING PROGRAMME

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3197766

Velesto Energy Berhad
Description: LETTER OF AWARD FOR THE PROVISION OF JACK-UP DRILLING RIG FOR PETRONAS CARIGALI DRILLING PROGRAMME

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, has received a Letter of Award from PETRONAS Carigali Sdn. Bhd. (“PCSB”), for the provision of jack-up drilling rig services (“Contract”). 
The Contract is for the provision of services of jack-up rig, namely NAGA 2, with an estimated Contract value of USD12.4 million.
 
Details of the Contract is summarised below:
2. DETAILS
2.1       Provision of Jack-Up Drilling Rig “NAGA 2”
For the provision of drilling rig services for PCSB’s drilling programme, VEB Group assigns its NAGA 2 to drill five (5) firm wells, with the extension option of one (1) plus one (1) well, with an expected commencement date of between 1 December 2021 to 31 December 2021.
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.
 
3. INFORMATION ON PARTIES
3.1       Information on Velesto Drilling Sdn. Bhd.
VED was incorporated in Malaysia under the Companies Act, 1965 on 29 July 2003 and is deemed to be 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 PCSB
PCSB, a wholly-owned subsidiary of Petroliam Nasional Berhad (PETRONAS), is a leading exploration and production (“E&P”) company taking on increasingly challenging projects to bring new oil and gas supplies to the market. PCSB was incorporated in Malaysia under the Companies Act, 1965 on 11 May 1978 and has its registered office at Tower 1, PETRONAS Twin Towers, Kuala Lumpur City Centre, 50088 Kuala Lumpur, Malaysia. The principal activities of PCSB are the exploration, development and production of oil and gas.
 
4. FINANCIAL EFFECTS
The provision of the above-mentioned services is expected to contribute to the earnings and net assets of VEB Group during the contract period for the financial period ending 31 December 2021.
 
5. RISK ASSOCIATED WITH THE CONTRACT
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 Contract.
 
7. STATEMENT BY DIRECTORS
The Board of Directors of VEB is of the opinion that the acceptance of the Contract is in the best interest of VEB Group.
 
This announcement is dated 1 October 2021.

Posted by bullmarket1628 > 2021-10-02 09:45 |

Post removed.Why?