Posted by Macgyver11 > 2023-03-19 21:43 | Report Abuse

Biden in the midst of negotiating with great legendary investor. He is the saviour now. Bailout the crisis bank is small matter for Warren Buffet as he had do it before and he will do it again, no doubt on it. Hopefully the recession worried will calm down.

Posted by Macgyver11 > 2023-03-19 21:57 | Report Abuse

Hope with the above news will easing the falling crude oil price and market selloff will u-turn.

Posted by Macgyver11 > 2023-03-19 22:09 | Report Abuse

Wonder why this Oracle of Omaha piling up his shares in o&g

Posted by 08127059 > 2023-03-20 01:05 | Report Abuse

You are being manipulated...

Posted by Macgyver11 > 2023-03-20 09:46 | Report Abuse

Really..I didn't know that. Stock market is all about manipulating otherwise it won't called stock market..lol

Posted by Macgyver11 > 2023-03-20 09:47 | Report Abuse

Nobel economist Paul Krugman says the Silicon Valley Bank collapse has led to 'apocalyptic rhetoric' in markets, but almost none of it is true


Paul Krugman. REUTERS/Brendan McDermid

The collapse of Silicon Valley Bank has bred "apocalyptic" fears in markets, but most are unfounded, Paul Krugman said.

The Nobel economist refuted myths about SVB's failure and rescue in an op-ed for the NYT.

But he remained concerned about one issue: SVB's impact on the Fed's mission to lower inflation.

The collapse and rescue of Silicon Valley Bank has led to some bleak rhetoric in markets, but almost none of the most commonly voiced fears are correct, according to Nobel economist Paul Krugman.
"The fallout from banking problems has made a murky economic situation even murkier, and it will be a while – maybe forever – before we know whether policymakers made the right call. But I'm hearing a lot of apocalyptic rhetoric right now, none of which seems justified by the available facts," Krugman said in an op-ed for the New York Times on Thursday.
The tech-focused bank failed a week ago, and was taken over by the FDIC to mark the largest bank collapse since the 2008 crisis. Regulators stepped in to fully back SVB's depositors, even those over $250,000, breaking the long standing FDIC threshold for deposit insurance. 
Biden has promised the policy move was not a bailout and would come at no cost for taxpayers – but while that's wrong, and that it is a bailout, according to Krugman, he said markets are also off base in their fears that SVB's collapse and rescue could lead to economic doom, refuting four myths about the bank's demise. 

SVB failed because it was too "woke"

First is the idea that SVB failed because it was too concerned with diversity and inclusion to conduct proper risk management, which is "ludicrous," Krugman said. SVB was environmentally similar to other banks – so "woke" culture isn't ruining the banking system, the top economist said.
"Banks have been going bust for centuries, since long efore HR departments began including boilerplate language about social responsibility in their mission statements. So the talk about wokeness tells us nothing about bank failures – but a lot about the intellectual and moral bankruptcy of the modern American right," he added.

Regulators didn't need to rescue SVB

Second is the criticism that regulators didn't need to step in, as the bank's collapse was more due to its unique problems rather than a systemic banking issue.
While Krugman believes SVB's collapse wasn't another Lehman Brothers moment, the bank was still a crucial part of the tech sector, which justifies its rescue. He compared it to the bailout of General Motors and Chrysler in 2009, when regulators chose to rescue key players in the auto industry and the economy.

The SVB bailout will increase irresponsible risk-taking at banks

Third are concerns that the SVB bailout could lead to a moral hazard dilemma for bankers, as insuring all depositors could remove the incentive for banks to moderate their risk taking. In fact, the opposite is true, Krugman said:
"Policymakers explicit didn't guarantee all deposits everywhere, and at least so far, we're seeing an outflow of funds from smaller banks to more tightly regulated large banks," he said. "On balance we seem to be seeing the financial system move toward reduced, not increased risk taking."

SVB's collapse will undermine the Fed's inflation fight

The fourth unfounded fear, Krugman says, is that the collapse of Silicon Valley Bank could interfere with the Fed's inflation fight. In the last year, central bankers have raised interest rates 450 basis-points to lower high prices, but markets have dialed back their rate hike expectations, as the Fed is unlikely to raise interest rates aggressively to avoid putting pressure on a fragile-looking banking system.
Krugman remains concerned about inflation, but banking troubles naturally slow the economy – so it's a good thing markets are pricing in lower interest rates, as the Fed no longer has to raise rates as high to lower inflation, he said.

"I'm seeing some people saying that banking problems will cause a recession, and also that financial dominance, by preventing rate hikes, will doom the fight against inflation. You can't believe both things!" Krugman said in a Twitter thread on Friday.
Investors are now pricing in a 76% chance the Fed raises rates by just 25 basis-points next week, and a 24% chance it pauses rate hikes altogether. 













 



 



 


 



 



 

Posted by 08127059 > 2023-03-20 13:24 | Report Abuse

Try hard to manipulate people....

Posted by skyhighinvestor > 2023-03-20 13:42 | Report Abuse

Wait at lower price...

Posted by Macgyver11 > 2023-03-20 13:47 | Report Abuse

Hahaha! If you think I'm manipulating then why you are here reading. You see this is my principle if I were not interested in any stock or I dumped it out, I won't wasting my time posting and commenting in that blog again...for what wasting my time only, non value added job for me. I rather use that time to do analyst and studying another profitable counter. We're predicting the market movement and non of us can ensure accurately otherwise everyone becomes millionaire. We gather data and share information. Sometimes the information might correct sometimes it won't. If it working then fine if not we have find alternative solution. Nobody forcing anyone to buy or to sell. Do it on your own interest. Relax my young padawan

Posted by Macgyver11 > 2023-03-20 13:50 | Report Abuse

If your dream come true and the shares price go lower then collect lah..we collect since velesto trading @ 0.10c mah. Haha!

Posted by manka > 2023-03-20 16:01 | Report Abuse

turun sampai 15ct?

Posted by pang72 > 2023-03-20 16:14 | Report Abuse

17.5c is key support.
If broken then all the hard work gone..15c next

Posted by pang72 > 2023-03-20 16:16 | Report Abuse

No wonder itu PMB selling ten of millions shares suddenly

Posted by nicholas99 > 2023-03-20 16:18 | Report Abuse

those ma lai yu just goreng nia la.

Posted by manka > 2023-03-20 16:18 | Report Abuse

jual..jual

Posted by manka > 2023-03-20 16:18 | Report Abuse

jual..jual

Posted by JusticeBao > 2023-03-20 16:18 | Report Abuse

2023 alrdy still playing o&g?

Posted by 08127059 > 2023-03-20 20:40 | Report Abuse

Where is Mr.Mac sdh sembunyi belakang Warren Buffet or Paul Krugmen ...?

Posted by Macgyver11 > 2023-03-20 20:45 | Report Abuse

Oil bounced back. Usd 72. Banks crisis already factored in now. Hopefully can touch back usd 75

Posted by Michael Kwok > 2023-03-20 20:47 | Report Abuse

Price 19 cents.sell on strength
Resistance 22.5
But breakout of bearishness 20.5 cents
Tp(10-12 cents)
20/3/23 8.47pm

Posted by Macgyver11 > 2023-03-20 20:47 | Report Abuse

Apasal you tarak jilat pong.gong I tak blh tidur kah . Sdh lah you manipulating many here to sell so that you can collect cheap ticket.

08127059

Where is Mr.Mac sdh sembunyi belakang Warren Buffet or Paul Krugmen ...?

Posted by Bon888 > 2023-03-20 20:58 | Report Abuse

Someone give 10 to 12 cent TP. Hello like that market already collapsed like Covid time. If you think reccession is coming better sell all your shares and keep only gold.

Anyway I already set my buy queues for a few weeks from 0.175 to 0.16. Hope able to catch some panic sells.

Posted by Macgyver11 > 2023-03-20 21:21 | Report Abuse

Crude oil bounced strongly. I don't think tomorrow can drop further. If drop then good time to collect more. Banking crisis calmed down as per today news. But investors still worried the aftershock will put bursa remained at bottom for time being.

Posted by Macgyver11 > 2023-03-21 08:31 | Report Abuse

Goldman Sachs has already revised its oil price forecast for the rest of the year. Previously expecting Brent to hit $100 in the second half, now the investment bank expects the international benchmark to only rise to $94 per barrel in the coming 12 months. For 2024, Goldman analysts see Brent crude at $97 per barrel.

“Oil prices have plunged despite the China demand boom given banking stress, recession fears, and an exodus of investor flows,” Goldman said in a note last week, as quoted by Bloomberg. “Historically, after such scarring events, positioning and prices recover only gradually, especially long-dated prices.”

Indeed, as far as events go, this one left a serious scar. Brent crude went from over $80 per barrel to less than $75 per barrel, and West Texas Intermediate slipped down close to $65 per barrel. And this happened while authoritative forecasters such as the IEA and OPEC recently said they expect stronger demand growth than supply growth.

Even though Goldman Sachs revised crude oil price yet it still at high side...usd 97. Anything (crude oil) above usd 60 already good enough to generate income for o&g counters. Usd 97 is excellent

Posted by Macgyver11 > 2023-03-21 08:31 | Report Abuse

Goldman Sachs has already revised its oil price forecast for the rest of the year. Previously expecting Brent to hit $100 in the second half, now the investment bank expects the international benchmark to only rise to $94 per barrel in the coming 12 months. For 2024, Goldman analysts see Brent crude at $97 per barrel.

“Oil prices have plunged despite the China demand boom given banking stress, recession fears, and an exodus of investor flows,” Goldman said in a note last week, as quoted by Bloomberg. “Historically, after such scarring events, positioning and prices recover only gradually, especially long-dated prices.”

Indeed, as far as events go, this one left a serious scar. Brent crude went from over $80 per barrel to less than $75 per barrel, and West Texas Intermediate slipped down close to $65 per barrel. And this happened while authoritative forecasters such as the IEA and OPEC recently said they expect stronger demand growth than supply growth.

Even though Goldman Sachs revised crude oil price yet it still at high side...usd 97. Anything (crude oil) above usd 60 already good enough to generate income for o&g counters. Usd 97 is excellent

Posted by pang72 > 2023-03-21 10:23 | Report Abuse

Ambar Warrick

Investing.com-- Oil prices fell in early Asian trade on Tuesday, cutting short a brief rebound from 15-month lows as markets hunkered down before a Federal Reserve interest rate decision this week, while concerns over a banking crisis continued to spur cautious trading.

Posted by miracle_trader > 2023-03-21 10:24 | Report Abuse

run while u still can. if next qr report another losses,then gg. the management is weak

Posted by Eric Lim > 2023-03-21 11:27 | Report Abuse

lansai la, quarter not yet end you know the result already? xinkalan

Posted by Macgyver11 > 2023-03-21 13:14 | Report Abuse

Someone keep on posting old news about oil price to tarnish the velesto credibility and reputation...come on guys, aren't you got better things to do.

Posted by Macgyver11 > 2023-03-21 13:21 | Report Abuse

Crucial moment for Velesto and brent..go up or go down. Entire i3 members waiting thrillingly. Hope for the best.

Posted by BobAxelrod33 > 2023-03-21 13:32 | Report Abuse

You're stuck well over your head at penthouse level??????

Posted by BobAxelrod33 > 2023-03-21 13:44 |

Post removed.Why?

Posted by Macgyver11 > 2023-03-21 17:47 | Report Abuse

Wow! Oil back to usd 75. Pak tha loo!

Posted by Macgyver11 > 2023-03-21 17:58 | Report Abuse

All the manipulating guys who tried to tarnish this counter will go for hibernation temporary...

Posted by Bon888 > 2023-03-21 21:27 | Report Abuse

Buy Q 0.175 but nothing in the trap. Repeat the same trap for one month.

Posted by Macgyver11 > 2023-03-21 21:50 | Report Abuse

https://www.youtube.com/watch?v=Mm6bX_W6CCk
Some info about future oil market..seems more relevant. Good to listen.

Posted by Bon888 > 2023-03-22 09:59 | Report Abuse

Analyst makan gaji only. They just follow big boss`s direction.

Posted by Lewis Lee > 2023-03-22 10:43 | Report Abuse

I lost confidence with this company already.... they have valuable assets (7 rigs ) but not the management / brain to capitalize on that, what can you say ?? I worry they might continue to deliever loss or peanut profit .....
AS suggested by one analyst, sell off their rigs and invest in something else flashy like EV etc ! then only can the price shoot up to RM1 !! lol

Posted by Bon888 > 2023-03-22 14:02 | Report Abuse

The latest contract rate not fully reflected in the QR result. Wait for another 2 QR, if still not making any money then you sell it off.

Posted by miracle_trader > 2023-03-22 20:30 | Report Abuse

if wait another 2 QR still peanut profit or lose money, that time u sell of will be at 10 cent

Posted by Bon888 > 2023-03-22 23:53 | Report Abuse

Jack-up daily charter rate (DCR) of just US$67,000 (RM284,750) per day in the 2020 has risen to as high as US$100,000 to US$130,000 (RM425,000 to RM552,500) per day.

Like that also can't make money, I speechless.

Posted by EAGLE > 2023-03-23 11:16 | Report Abuse

Still not dropping. Support at 20 cent.

Posted by pang72 > 2023-03-23 18:48 | Report Abuse

19.5c liao

Posted by Macgyver11 > 2023-03-24 12:09 | Report Abuse

It will run side way for temporary until the 1st qtr out. 1st and 2nd qtr will decide Velesto fate. Let hope for better result in up coming qtr.

Posted by Macgyver11 > 2023-03-24 15:13 | Report Abuse

I assumed velesto should return to black in 1st qtr after considering this...

1) Usd 135mil (RM 640mil) contract from Hess. This contract commenced on 4th qtr 2022 until 4th qtr 2024 ( 2 years contract). Velesto assigned Naga 5 to extract 14wells in North Malay Basin.

2) Short term contract for Sarawak ROC worth usd 14mil. Commencing date from 25 January until mid-June 2023. Naga 2 already assigned for this project.
3) Plug and abandonment (P&A) project for Petronas at Tembungo A and Tembungo B. This contract expected to contribute 60mil. Contract commenced on may 2022 until January 2024. Extension option for Tembungo B another 1 year (January 2024 to Dec 2024)

4) Contract for Exxon Mobil start 3rd qtr 2022 to 3rd qtr 2023. GAIT 6 deployed for this contract. Amount of this contract not declared as this contract based on call-off principles.

5) The rest of of rigs work for Petronas based on " on-call" basis.

Rigs utilisation for year 2022 - 62%
Rigs utilisation for year 2023 - exceeded 80%
DCR increased from usd65,000-usd70,000 to usd85,000 to usd 100,000.

Based on above if still can't make money...I'm also speechless like you all.

Posted by trade74 > 2023-03-24 15:30 | Report Abuse

@Macgyver11 - thanks for the comprehensive analysis. The next QR will be excellent... March is seasonally bearish month...do expect price to come down...

Posted by Macgyver11 > 2023-03-25 06:25 | Report Abuse

After a major decline that saw oil prices fall to multi-year lows, oil markets appear to have bottomed out and begun an encouraging ascent higher. Over the past two weeks, a general bearish and risk-off sentiment cut across asset markets and triggered a lengthy unwind of speculative positions in oil futures. A top commodity analyst blamed the unusually steep decline to significant selling by banks in response to gamma-effects as prices closed in a concentration of producer puts around USD 75/bbl for Brent and USD 70/bbl for WTI crude.

Luckily for the bulls, in the current week, oil prices have staged a remarkable turnaround, with Brent climbing from a two-year low around $70 per barrel on Monday to USD 77.20 per barrel on Thurday’s intraday session while WTI has recovered from around $63 per barrel to $71.20 over the timeframe. That’s a nearly 10% rally in the space of just three days.

And now commodity experts at Standard Chartered are saying that the path of least resistance for oil prices at this point is higher, not lower. Previously, the analysts had said that the unwinding of speculative length appears to be complete at this juncture, thus lowering selling pressure, but had warned that prices might retest the lows if the FOMC hikes its policy rate by more than the widely expected margin of 25bps.

Related: Spain Calls On Importers Not To Sign New LNG Deals With Russia

Thankfully, the markets have successfully scaled that wall of worry after the Fed’s hike on Wednesday came in-line with expectations. The Fed also indicated that the current rate hike cycle is nearing an end.

Fast Recovery

It gets better for the bulls: StanChart expects last week’s gamma effects to reverse course with banks buying back positions thus reinforcing the short-term rebound. Beyond that, StanChart says oil prices will largely be dictated by OPEC’s and consuming countries’ strategic inventory policy shifts.

Specifically, the experts have predicted the current surplus will persist till early Q2; however, they expect the rest of the year to be in a modest deficit.



Source: Standard Chartered Research

StanChart is not the only oil bull here.

Goldman Sachs' Jeffrey Currie has acknowledged that the unexpected banking crisis has soured the macroeconomic outlook significantly and weighed heavily on oil prices, calling the situation a "big, scarring event." Still, the analyst expects prices to rally from here, and has only lowered his 2023 end-of-year target from $100 to $94 a barrel.

According to Currie, fundamentals in the oil markets remain largely unchanged thus supporting the previous bull case. He has pointed out that key physical indicators, such as refining margins and time spreads, have remained stable, a positive sign that in-use demand remains strong and is likely to continue driving the physical market higher. Currie has also argued that the banking crisis will only have short-lived effects but very limited impact over the long-term, "I think the key message here is fundamentally we haven't seen a big significant shift," he said. "Physical markets are going to have to drive this market higher."

However, he has warned that the turmoil will result in a "... a longer path forward."

Hedge fund manager Pierre Andurand of Andurand Capital is not a mere bull but an ultra-bull: Andurand has predicted that crude will hit $140/bbl by the end of the year. Just like Currie, Andrurand argues that the recent oil price crash due to banking jitters was purely speculative. Further, he expects crude oil demand to peak around 2030, but "even when we peak, oil demand won't fall down so fast. We will reach peak demand towards 110M bbl/day and then a slow decline from there."

Oil and gas stocks have also been surging higher in tandem with the commodities they track: the energy sector’s benchmark, the Energy Select Sector SPDR Fund (NYSEARCA:XLE), is up 4.1% since the beginning of the week.

After posting record profits for two straight years amid high oil and gas prices, earnings for the energy sector are only expected to decline modestly in the current year compared to other market sectors. Late last year, a Moody's research report projected that industry earnings will stabilize overall in 2023, though they will come in slightly below levels reached by recent peaks. The analysts note that commodity prices have declined from very high levels earlier in 2022, but have predicted that prices are likely to remain cyclically strong through 2023. This, combined with modest growth in volumes, will support strong cash flow generation for oil and gas producers. Moody’s estimates that the U.S. energy sector’s EBITDA for 2023 will clock in at $585, good for a modest 6% decline from 2022 levels.

Valuations in the oil and gas sector also remain low despite two years of strong rallies with many energy and gas stocks trading at large discounts to the market.

Posted by 696988 > 2023-03-26 20:13 | Report Abuse

More hope on second qtr

Posted by pang72 > 2023-03-27 12:00 | Report Abuse

18.5c gone case
17.5c next

Posted by BobAxelrod33 > 2023-03-27 12:02 | Report Abuse

Sin Kar lan gone hiding in dark cave....hahaha