Posted by SinGor > 2023-05-20 09:45 | Report Abuse

Usually in Velesto case, Early Qr announcement usually ended in big impairment loss & very late announcement
ended in unknown losses......One or 2 days before expected Release Date always has Good results ( we are right
at the sweet spot next week---Mon or Tue., wed ..................Barring unknown losses, 65--75mil net profit will
jump start massive price surge...........as usual, Bob will be breaking his Office Toilet Bowel out of frustration

Posted by Bon888 > 2023-05-20 10:03 |

Post removed.Why?

Posted by Macgyver11 > 2023-05-20 15:27 | Report Abuse

Let's review back Velesto contracts whether it can contribute to positive earning in up coming qtr rather than assuming....

1) 1/2/2023
Velesto awarded short terms contract from ROC oil sarawak.
Contract value: 14mil (about MR 64mil)
Rig deploy; Naga 2
Contract duration: 25/1/2023 to 25/2/2023

2) 7/11/2022
Contract from; Hess exploration Malaysia
Value: usd 135mil ( MR: 613mil)
Rig deploy: Naga 5
Duration; 2022 to 2024
Commencing date: Q4 2022 (September 2022 onward)
Area: North malay basin (14 well)

3) 25/8/2022
Contract from: Petronas- plug & abandonment integrated service for Tembungo A
Value: not mentioned
Duration: 21 months
Commencing date: May 2022 to January 2024
(Tembungo B - start January 2024 to December 2024)

4) 11/3/2022
Contract from: Drilling program from Petronas (on call-out basis)
Value: Not mentioned
Duration: 2 years
Commencing date: 1st qtr 2022

5) 22/2/2022
Contract from: ExxonMobil Malaysia
Value: Not mentioned
Rig deploy: GAIT 6
Duration: 1 year
Commencing date: third qtr 2022 (September 2022 onward)

Every contracts that they received last year might visible in this year earning especially the contract from Hess carigali, its value is huge...

Hope sin gor prediction might come true..

Posted by Macgyver11 > 2023-05-20 15:47 | Report Abuse

Don't forget that they received another contract from Petronas this year valued MYR 580mil. Overall they have order book around 1.3 to 1.5 bil in hand, correct me if I'm wrong. Just 2c

Posted by charlie chia > 2023-05-20 16:13 | Report Abuse

Worth to wait for few more days to see their Result is out, then only decide further to keep or sell. With so many projects in hand
I think can keep for longer

Posted by Mabel > 2023-05-20 22:18 | Report Abuse

Weekly oil inventories rose sharply this week, by around 5 million barrels, while economists were expecting a decline of 1.3 million barrels. However, this data has not prevented crude oil prices from rising by around 3% over the last five sessions. The reason for this is that traders are looking to the future, which is more likely to see a price recovery for two main reasons. Firstly, the US Department of Energy has announced the purchase of crude oil to start filling its strategic reserves. We are talking about 3 million barrels at the moment, which is relatively small, but the information is clear: the United States is starting to rebuild its strategic reserves, which, let's not forget, have melted like snow in the sun since last year. Secondly, the International Energy Agency has raised its demand growth forecast for 2023 and thus foresees a tighter market in the second half of the year. In this context, oil prices have recovered, with Brent crude at USD 76 per barrel and WTI at USD 72. In European natural gas, the Dutch benchmark, the Rotterdam TTF, is trading at EUR 30/MWh, a level not seen since November 2021.

Posted by churrosnight > 2023-05-22 15:44 | Report Abuse

Lai liao lai liao !!!

Posted by serpent100 > 2023-05-22 16:53 | Report Abuse

Lai Lai move liao

Posted by Vincent8864 > 2023-05-22 17:01 | Report Abuse

Resistance at 0.26. Need some good news to break this.

Posted by Macgyver11 > 2023-05-22 17:03 | Report Abuse

reener

VELESTO is optimistic about the new contract
Sinchew Mon, May 22, 2023 09:03am - 7 hours




Xiao Chen from Kuala Lumpur asked: What is the latest business progress of VELESTO Energy (VELESTO, 5243, Main Board Energy Group)? How good is the prospect? Can I buy it?

Answer: VELESTO Energy recently announced that it has won the contract awarded by PETRONAS Carigali. Its three jack-up drilling rigs Nage3, 4 and 6 will be responsible for drilling up to 20 oil wells. The total value is US$128 million (approximately RM569.536 million), or equivalent to US$128,000 per day.

As the demand for jack-up drilling remains strong, analysts are optimistic that the utilization rate of VELESTO Energy's drilling rigs will exceed 80% this year and the daily rental fee will exceed expectations, so the financial forecast has been raised.

Posted by Vincent8864 > 2023-05-22 17:06 | Report Abuse

This daily rate of USD 128K is very much better compared to last few years.

Posted by zeroknowledge420 > 2023-05-22 19:59 | Report Abuse

much much better. Then the rest up to Vel to make sure the fortune is well managed.

Posted by Vincent8864 > 2023-05-22 20:08 | Report Abuse

What is the highest rate in history?

Posted by Vincent8864 > 2023-05-22 20:09 |

Post removed.Why?

Posted by zeroknowledge420 > 2023-05-22 20:22 | Report Abuse

if i'm not mistaken, last year reported that daily charter rate was below the market charges. i forgot where i read it.

Posted by Mabel > 2023-05-22 21:23 | Report Abuse

Excellent updates Macgyver11!

Very Good Closing...

Life is so beautiful

Meow Meow Meow

Posted by faizalanuar > 2023-05-22 21:24 | Report Abuse

on their report fy22 stated 77k dcr..hopefully most of rig revise to new rate. since order book also arnd 1.6b

Posted by Macgyver11 > 2023-05-22 22:02 | Report Abuse

https://youtu.be/9jK-NcRmVcw

Posted by Bon888 > 2023-05-22 22:23 | Report Abuse

Velesto dragons Roar !!!!

https://youtu.be/CevxZvSJLk8

Posted by Bon888 > 2023-05-22 22:27 | Report Abuse

Naga 3 roaring at offshore Sarawak!!!

https://www.upstreamonline.com/exploration/pttep-set-to-imminently-spud-its-latest-wildcat-in-search-of-gas/2-1-1453753

Posted by Michael Kwok > 2023-05-22 22:52 | Report Abuse

Velesto price 26 cents
Tp 30 cents range
22/3/23 10.55pm.

Posted by Mabel > 2023-05-23 11:09 | Report Abuse

Haha nice Sifu Michael...

1st resistance at 26 sen already broken!

Meow Meow Meow

Posted by Mabel > 2023-05-23 11:11 | Report Abuse

Now Velesto has already breaches 200 Moving Average..

Cruising Full Speed...

To Our Success!

Meow Meow Meow

Posted by Lewis Lee > 2023-05-23 15:21 | Report Abuse

Jia lat !! become "Very Slow" pulak .....

Posted by goldenhope > 2023-05-23 16:38 | Report Abuse

wait for qtr results

Posted by serpent100 > 2023-05-23 16:44 | Report Abuse

Today show means Qr report like dangerous jer …

Posted by Macgyver11 > 2023-05-23 17:23 | Report Abuse

Cannot say like that also. Look at transaction before the last qtr announcement, volume very and price spiked up very fast but qtr turn out bad....boom! Price plunged from 0.26c to 0.19c.

Posted by SinGor > 2023-05-23 19:45 | Report Abuse

many Bluechip will be releasing results tomolo or Thursday.

Posted by Bon888 > 2023-05-23 22:58 | Report Abuse

How many million profit will make the price flying above 0.30?

25 million?
50 million?
75 million ?
125 million?

For me 25 million is a good turnaround signal.

Posted by serpent100 > 2023-05-24 07:56 | Report Abuse

Sell half I hv 1st …balance see after qr …

Posted by specializedvenge > 2023-05-24 09:25 | Report Abuse

Few days before last qr amanah and brothers sold millions...
This coming qr still didn't see any..
Maybe some indication

Posted by Expertise > 2023-05-24 17:04 | Report Abuse

Weak holder wash out….let see Q

Posted by trade74 > 2023-05-24 20:02 | Report Abuse

PTTEP work was not listed in Macgyver11 summary. Maybe an earlier contract kot

Posted by Macgyver11 > 2023-05-25 08:46 | Report Abuse

Qtr announcement maybe today or 2morrow...final countdown.

Posted by Macgyver11 > 2023-05-25 08:51 | Report Abuse

Not officially announce yet to bursa. So we must ruled out this first. My 2c.

trade74
PTTEP work was not listed in Macgyver11 summary. Maybe an earlier contract kot

Posted by Expertise > 2023-05-25 09:21 | Report Abuse

So disappointed…no Early Q

Posted by SinGor > 2023-05-25 10:18 | Report Abuse

yesterday SAP plunge bcos a few big fish cash out to prepare for " open house" in velesto. I also join the Club.

Posted by Macgyver11 > 2023-05-25 12:57 | Report Abuse

Velesto Net profit 14mil for 1st qtr. That's ok just a beginning. 2nd qtr expected to increased further since DCR rate also increased

Posted by serpent100 > 2023-05-25 12:58 | Report Abuse

Earn 14222000

Posted by EAGLE > 2023-05-25 13:00 | Report Abuse

Mari mari

Posted by Macgyver11 > 2023-05-25 13:05 | Report Abuse

😀

Posted by specializedvenge > 2023-05-25 13:17 | Report Abuse

Relief.
Atleast better and better revenue + positive income

Posted by Expertise > 2023-05-25 13:26 | Report Abuse

Profit profit .. hooray

Posted by Bon888 > 2023-05-25 13:38 | Report Abuse

32 million operating cash flow. Real cash flowing into the company.

Posted by ncy810116 > 2023-05-25 13:42 | Report Abuse

good QR finally.

Posted by charlie chia > 2023-05-25 13:46 | Report Abuse

Hope to break 27 CTS

Posted by faizalanuar > 2023-05-25 13:46 | Report Abuse

seems like slowly panjat no rocket this time

Posted by charlie chia > 2023-05-25 13:47 | Report Abuse

Hope to break 27 CTS resistance

Posted by Bon888 > 2023-05-25 13:49 | Report Abuse

Full house on hand, 3 Ace of high value contracts and a pair of king - good QR results. Show Hand!

Posted by StayHumble > 2023-05-25 14:10 | Report Abuse

"Jack-up marketed utilisation in Southeast Asia has increased to 100% and charter rates for the latest fixtures continues to be on an uptrend. Currently, all six of the Group's available jack-up drilling rigs are working"