Posted by WEIMEY > 2022-11-03 11:59 | Report Abuse

We will know if we are going to win this battle in mid of December.

Posted by WEIMEY > 2022-11-03 11:59 | Report Abuse

I bet we are at a high chance to win

Posted by Macgyver111 > 2022-11-03 15:08 | Report Abuse

Jangan banyak comments dlm ni blog. Investors and sharks also reading this blog tau...nanti price dia kasi turun baru tau. Tiam Tiam (diam2) sudah lah. Bila naik ambil profit je. Ingat tiam tiam tau ssssssh! Kiki!

Posted by Macgyver111 > 2022-11-04 12:44 | Report Abuse

Finally touched 0.13c

Posted by Macgyver111 > 2022-11-04 22:26 | Report Abuse

Brent might close usd 100 tonight. Huat huat huat!

Posted by Macgyver111 > 2022-11-05 09:55 | Report Abuse

Index recovery
https://www.marketwatch.com/story/heres-strong-new-evidence-that-a-u-s-stock-market-rally-is-coming-soon-11667526884

Posted by Macgyver111 > 2022-11-05 10:34 | Report Abuse

Brent closed almost near to usd 99. Monday expected price can move another step, maybe can break 0.13c wall.

Posted by Macgyver111 > 2022-11-05 23:20 | Report Abuse

China going end zero covid policy soon. Another good news.
https://www.scmp.com/business/china-business/article/3198450/zero-covid-china-reopening-bets-lit-stocks-amid-buying-frenzy-hong-kong-shanghai-preview-end-policy

Posted by EAGLE > 2022-11-07 09:30 | Report Abuse

Fly today

Posted by kingJ > 2022-11-07 14:47 | Report Abuse

Hi all, how does price of oil affects VELESTO's performance?

Posted by Klse_faizan > 2022-11-07 16:11 | Report Abuse

Risky stock
To much debt

Posted by Eric Lim > 2022-11-07 20:14 | Report Abuse

Huat lah, RM1.00 coming .............................

Posted by Macgyver111 > 2022-11-07 22:36 | Report Abuse

KUALA LUMPUR (Nov 7): Offshore drilling services provider Velesto Energy Bhd has bagged a US$135 million (RM640 million) contract from Hess Exploration and Production Malaysia BV for the provision of integrated rig, drilling and completion (I-RDC) services for Hess' North Malay Basin Full Field Development Campaign.

The two-year job that will be completed by 2024 was secured via wholly owned subsidiary Velesto Drilling Sdn Bhd, said Velesto in a Bursa Malaysia filing.

According to Velesto, jack-up rig NAGA 5 will be assigned for the contract to provide I-RDC services covering 14 wells, and that the expected commencement date is in the fourth quarter of this year.

NAGA 5 is a premium independent-leg cantilever jack-up drilling rig that has a drilling depth capability of 30,000 ft, with a rated operating water depth of 400 ft, it added.

Velesto shares closed half a sen or 4% higher at 13 sen on Monday (Nov 7), bringing the group a market capitalisation of RM1.03 billion.

Posted by Macgyver111 > 2022-11-07 22:39 | Report Abuse

Petronas pay them very less for rigs service. International players like hess carigali might pay them very well. Ini kali lah...

Posted by Macgyver111 > 2022-11-07 22:42 | Report Abuse

Next year easily can go back to 0.40c like in 2019.

Posted by Macgyver111 > 2022-11-07 22:43 | Report Abuse

Tomorrow I believed can break 0.135c..

Posted by EAGLE > 2022-11-08 09:18 | Report Abuse

Fly today

Posted by Bon888 > 2022-11-08 11:39 | Report Abuse

The contract signed with Petronas was an umbrella contract. Any operator (PSC) for example Hess, Exxon, Shell, Hibiscus who need Rig services in Malaysia water must use Velesto in priority. If Velesto not able to provide then operator allowed to look for alternative.

Posted by chienweilim8139 > 2022-11-08 13:31 | Report Abuse

Velesto Energy Bhd has bagged a US$135 million (RM640 million) contract from Hess Exploration and Production Malaysia BV for the provision of integrated rig, drilling and completion (I-RDC) services.

Posted by chienweilim8139 > 2022-11-08 13:31 | Report Abuse

rally is strong

Posted by Macgyver111 > 2022-11-09 09:50 | Report Abuse

Institutional must join in to push up the price...

Posted by Bon888 > 2022-11-09 10:15 | Report Abuse

Today at will close at 0.14 or above.

Posted by EAGLE > 2022-11-09 10:37 | Report Abuse

Fly today

Posted by Macgyver111 > 2022-11-09 10:53 | Report Abuse

Haha finally

Posted by Macgyver111 > 2022-11-09 11:08 | Report Abuse

SinGor

Alot of die hard are now relief of the prospect "very stone" will not break "friday the Thirteen"

Haha! Freddy Krueger is buying on behalf of "Friday the thirteen".

Posted by Macgyver111 > 2022-11-11 10:00 | Report Abuse

https://www.upstreamonline.com/field-development/malaysian-contractor-scoops-hess-innovative-drilling-prize/2-1-1347560

Posted by rwilliams > 2022-11-11 21:18 | Report Abuse

Besides prospect of Rigs that already sold out, Velesto Hydraulic Workover Unit (HWU) are fully sold out also (and with good day rate). If you go to Velesto yard in KSB, there was the HWU rigs that keep in front of the base since long time ago. Now this HWU is gone to do projects.
The new CEO, Megat Zariman was ex Schlumberger and Bumi Armada. Very well train in Big International organization, and proven can bring back Bumi Armada from their despair. He will do even more with Velesto as the macro environment also support the recovery in Oil & Gas sector.

Posted by Macgyver111 > 2022-11-13 17:55 | Report Abuse

Next week buy while price still in deep. Once DSAI become our next 10th PM, mark my word price sure skyrocket one.

Posted by Shines > 2022-11-14 17:39 | Report Abuse

Big block at 14

Posted by Macgyver111 > 2022-11-15 13:21 | Report Abuse

KUALA LUMPUR (Nov 15): CGS-CIMB Securities has maintained its “add” rating on Velesto Energy Bhd at 13.5 sen with a higher target price (TP) of 17 sen (from 11.5 sen) and said it expects Velesto to secure more drilling contracts and at higher average daily charter rates (DCRs) in the coming months.

In a note on Monday (Nov 14), the research house raised its core net profit forecasts on higher utilisation and DCR rate assumptions for the immediate and also for the long term.

CGS-CIMB said Velesto guided that it had plenty of work lined up for 2023, which could help it achieve a minimum utilisation rate of 70% or even 80% if all the available days are filled or if it chooses to delay the planned offline upgrade in 2023 for either the Naga 3 or Naga 4 in favour of taking advantage of strong demand for drilling services.

“In light of this, we raise our jack-up (JU) rig utilisation assumptions for FY2023-2024 from 70% to 80% and our long-term assumptions from 70% to 75% for FY2025 and beyond.

“We have assumed an increase to US$75,000/day for non-offline-capable rigs in our FY2023 forecasts.

“Downside risks include demand and DCRs in the JU market potentially declining should oil prices fall due to a deep global recession,” it said.

Posted by specializedvenge > 2022-11-17 17:24 | Report Abuse

Every last min back to.135 for days...

Posted by Macgyver111 > 2022-11-21 07:30 | Report Abuse

Parliament hung, don't know what going to happen to bursa today..adoi

Posted by Shines > 2022-11-21 13:39 | Report Abuse

Parliment Hung, just pluck shares

Posted by Macgyver111 > 2022-11-21 16:42 | Report Abuse

Market recover back. For sure DSAI is our next PM. 2morrow after lunch things might get more interesting.

Posted by StayHumble > 2022-11-21 16:42 | Report Abuse

Moo is backdoor expert. Need to be careful

Posted by Lewis Lee > 2022-11-22 12:39 | Report Abuse

Whoever take over as new government, this counter won't be affected at all lah !
whatever government also need to gorek more oil to increase their revenue what ??
safe counter to invest !

Posted by WEIMEY > 2022-11-24 20:55 | Report Abuse

https://www.offshore-energy.biz/odfjell-boost-in-oil-gas-investments-to-ramp-up-drilling-activity-as-market-strengthens/

Posted by Lewis Lee > 2022-11-26 12:02 | Report Abuse

Optimism is all over the market, so be ready for super bull charging all the way to Christmas ...> CNY ....> ..... then sell in May & go away !!!!!!

Posted by Harryww > 2022-11-29 12:18 | Report Abuse

Oil prices started to inch up and result to be released late today. The possibility of limit up tomorrow is there to be seen.

Posted by roslaom > 2022-11-29 12:32 | Report Abuse

Nak jalan

Posted by specializedvenge > 2022-11-29 18:55 | Report Abuse

Green qr

Posted by WILLIAM203 > 2022-11-29 20:10 | Report Abuse

fly ......

Posted by hafizisolehah88 > 2022-11-29 20:32 | Report Abuse

you better flyy....

Posted by bb1788 > 2022-11-29 21:28 | Report Abuse

very good results...smooth sailing now on..

Posted by CHLEONG888 > 2022-11-29 21:34 | Report Abuse

Ok, tomorrow limit up

Posted by George99 > 2022-11-30 07:29 | Report Abuse

Profit estimation

Q4. 30 Mn to 60 Mn
2023. 60 Mn to 100Mn
2024 80 Mn to 200Mn

Possibly?

Posted by Macgyver111 > 2022-11-30 09:43 | Report Abuse

KUALA LUMPUR (Nov 29): Velesto Energy Bhd returned to the black with a net profit of RM14.97 million for the third quarter ended Sept 30, 2022 (3QFY2022), against a net loss of RM52.04 million in the same quarter last year, on the back of higher revenue.

The net profit also follows net losses of RM46.20 million and RM43.17 million for 1QFY2022 and 2QFY2022, respectively.

Quarterly revenue increased 89.83% to RM173.78 million, from RM91.54 million in 3QFY2021, mainly due to higher utilisation in its drilling services and integrated services segments, the group said in a bourse filing.

The group's average jack up rig utilisation for its drilling services segment improved to 78%, compared with 51% in 3QFY2021, it said.

The offshore drilling services provider did not declare a dividend for the quarter.

For the first nine months of FY2022 (9MFY2022), the group’s net loss narrowed to RM74.4 million from RM96.25 million a year ago, as cumulative revenue expanded 54.22% to RM337.78 million from RM219.02 million.

On prospects, Velesto said the global and regional upstream activities, including in Southeast Asia, continued their upward trend, with more exploration and development projects being evaluated and sanctioned. As a result, regional jack-up marketed utilisation has increased to above 90% and charter rates for the latest fixtures has been on an uptrend.

As for its drilling services segment, Velesto said it is actively bidding for new tenders for local and international contracts scheduled to be performed this year and next.

The prospect for its integrated services segment is improving with a number of jobs secured, it said.

“Currently, two out of four of the group’s workover units are working. The group continues to bid for available local and international contracts, for jobs scheduled to be performed this year and next year,” it added.

As for its oilfield segment, the group said positive industry outlook is also expected to support the stable performance of its oilfield services operation in China.

Shares of Velesto closed unchanged at 14.5 sen on Tuesday (Nov 29), giving the group a market capitalisation of RM1.19 billion.

Posted by EAGLE > 2022-11-30 09:44 | Report Abuse

Fly

Posted by roslaom > 2022-11-30 12:47 | Report Abuse

Fund belum masuk. Ikan bilis jer now. Go long

Posted by Lewis Lee > 2022-11-30 17:52 | Report Abuse

this counter won't fly, it will only crawl ....... ....... ...... ...... .....