Posted by EAGLE > 2023-11-29 16:28 | Report Abuse

like that aaa....haiyaa then bleeding from buttock

Posted by specializedvenge > 2023-11-29 16:56 | Report Abuse

All like run for their life.

Posted by Macgyver11 > 2023-11-29 17:14 | Report Abuse

I think we know the result ready...prepare for "knee-jerk reaction".

Posted by faizalanuar > 2023-11-29 17:42 | Report Abuse

good or bad..all d same..sure sell down one

Posted by Macgyver11 > 2023-11-29 19:42 | Report Abuse

Qtr 1.22mil profit only. At lease better than showing 20mil loss.

Posted by Felice888 > 2023-11-29 19:53 | Report Abuse

Still got profit very good already! RHB analyst report is correct.

But the QR report didn't mention the Rig maintenance. Very poor reporting.

Cash flow generated from operation total RM 280m this is very positive.

Let's see tomorrow morning got any bargain hunting session.

Posted by randy793 > 2023-11-29 19:59 | Report Abuse

Historically will drop after announcing quarterly report. Question is how much the drop.

Posted by Macgyver11 > 2023-11-29 21:07 | Report Abuse

Currently, all six of the Group's available jack-up drilling rigs are utilised. NAGA 4 recently completed its 5-year Special
Periodical Survey (“SPS”). Both NAGA 4 and NAGA 3 has commenced work for PETRONAS Carigali Sdn Bhd
("PCSB") in September and October respectively. The Group is actively bidding for new tenders for local and
international contracts scheduled to be performed in 2024 and beyond.

Posted by SinGor > 2023-11-29 21:49 | Report Abuse

Money just donT disappeared from Revenue. Velesto Management paid back RM70mil Short Borrowing.
2Q short term Loan was 219mil and 3Qr short term Loan is RM149mil ( 31/12/22 Short term Loan RM254mil)
Good or Bad Qr ----you say!!!
I think Management will made RM70mil profit +++ 4Q23

Posted by Macgyver11 > 2023-11-29 21:56 | Report Abuse

Petronas hired total 3 rigs from Velesto. Naga 6 not mentioned in the report. Are Naga 6 going for periodical survey or already start commencing drilling work for PCSB 3qtr onward still not clear..

Posted by rizal2020 > 2023-11-29 22:29 | Report Abuse

hhmmm ....
seem PNB having abig strategi for 2023 annual income ! Look like some of operating cost has been park into 3qtr ( i guess laa )

Posted by Macgyver11 > 2023-11-29 22:34 | Report Abuse

But I believed all six rigs in full swing now. 4th qtr should be excellent result.

Posted by rizal2020 > 2023-11-29 22:38 | Report Abuse

they hope panic sell 2morrow lorr ... If tt is the case pity for Vele royal holders ! sooner or later the share will rise so fast

Posted by SinGor > 2023-11-29 22:43 | Report Abuse

Total drilling profit is RM74.8mil ( If declared as net profit, management has to pay 32% taxes so better
paid off short term Loan ) 3Q23 Date-Rate is $92 / day----HESS offer is $135 / Day in 2024 ( maybe starting
Oct 2023 )----So I expect Velesto profit to be about RM150--210mil per Quarter in 2024 ( have to include
Revenue from 2 hydraulic Units which will be operating Full Time in 2024 )

Posted by rizal2020 > 2023-11-29 22:51 | Report Abuse

Idea ...
3qtr Utilization rate quite low ... Revenue increase is understood due to charge rate increase but Operational Cost ???

Posted by rizal2020 > 2023-11-29 22:56 | Report Abuse

2morrow must q abit low for average down lorrr ....
hahahaaa
Good luck

Posted by rizal2020 > 2023-11-29 23:18 | Report Abuse

If we study 2qtr & 3qtr reports they purposely to reduce the profit and flush as much burden costs away to make a boom in yearly report as i guess laaa
Even TA giving 30cts++ maybe they not interest kot ... Maybe their aim 50cts++ by 2023 financial year ... Let wait @ cc

Posted by Marklucas > 2023-11-30 02:49 | Report Abuse

Contact wizardlarry@mail.com for you lost and stolen bitcoin he is an expert in tracing and recovery bitcoin

Posted by SinGor > 2023-11-30 09:04 | Report Abuse

Management has made it very clear where they used revenue ( atleast what i can see ) Operating cost
include Short term borrowing for Salary Management, buying Raw Materials and others Daily needs---
Due to missed alignment of when Revenue is received, Short term loan is necessary as a "lubricant"---if
NO salary paid on Time ( mogok )----When management paid Back short term Loan is listed underOperational
Cost -----So it is clear Velesto makes 74mil profit from drilling this Qr but paid off Short term loan( 70M)

Posted by Expertise > 2023-11-30 09:13 | Report Abuse

No cheap ticket for early session

Posted by Macgyver11 > 2023-11-30 09:26 | Report Abuse

Hahaha! Very funny today veleslow act opposite..going up despite drop in qtr earning. Buy cheap now..

Posted by Expertise > 2023-11-30 09:31 | Report Abuse

Actually QR is good…as @Singor mentioned

Posted by EAGLE > 2023-11-30 09:45 | Report Abuse

For the nine months ended Sept 30, 2023, Velesto recorded a net profit of RM32.84 million...Going strong!

Posted by Sam88888 > 2023-11-30 11:07 | Report Abuse

So vel did manage to make a profit after all. This site is full of negative talkers they always say something negative... just read the thread a few days back. Even if Tesla was listed in bursa they will feed negative sentiment and confuse people and fulfill their fetish when price go down. certain segment in malaysia is very good at this. But in between the useless comment's there are still some constructive ones.

Posted by SinGor > 2023-11-30 11:11 | Report Abuse

If Velesto generates 150(2Qr)---210M (2Qr)next year, Management can Wipe-Out Total accumulated Loss
RM585M in Dec 2024-------Dividend in 2025 ( This is what PNB wants---Cut Debt and Give Dividend )
Once dividend is Confirmed, Velesto price is far, far easier to compute----I think PNB will push price above RM1
( as a matter of fact PNB is supporting price just recently )

Posted by Lewis Lee > 2023-11-30 17:27 | Report Abuse

Today Top Volume !! but ..... price unchanged & sleeping !! 😖

Posted by Macgyver11 > 2023-11-30 19:42 | Report Abuse

Pattern similar to Perdana. First 2 days price pick up after the qtr released and then drop sudden. Maybe 2morrow might drop further. Those waiting for 0.20c maybe got chances laa.

Posted by Macgyver11 > 2023-11-30 21:35 | Report Abuse

Ok lets review back rigs deployment, contracts and value:-
1) Naga 2 - assigned to work for Jadestone company (2023 3rd Q onward) and Vestigo oil company (2023 4th Q onward). Both contract valued USD 6.1mil and USD 10.9mil respectively. Both short terms contract. I believed Naga 2 might go for periodical survey once Jadestone contract completed before commencing work for with Vestigo.

2) Naga 3, 4 and 6 - drilling campaign for Petronas from September 3rd Q onwards. Contract amount that offered valued USD 128 mil.

3) Naga 5 - Hired by Hess Exploration with contract amount of USD 135mil (location: North Malay Basin). Contract commencing date from 4th Q 2022 to 1st Q 2024 and an extension for another 18 months, valued USD 74mil commencing date 2nd Q 2024 (location: Block A-18, 150km northeast kota bahru). I suspect Naga 5 most probably undergo for MRO once Naga 8 start digging oil. But according to latest qtr report, all rigs are currently in working now.

Seems most of the velesto rigs working full after 3Q onward. Just do rough calculation and feel free to give any suggestions...

Posted by Macgyver11 > 2023-11-30 21:46 | Report Abuse

That means in Y24 - Naga 3, 4, 6 and 8 hooked with solid long term contract meanwhile Naga 2 and 5 available for bidding new contracts with higher DC rate.

Posted by Macgyver11 > 2023-11-30 21:56 | Report Abuse

TA security still firm with TP 0.33c.

Posted by Macgyver11 > 2023-12-01 07:42 | Report Abuse

CIMB give TP 0.275

Posted by charlie chia > 2023-12-01 07:46 | Report Abuse

https://klse.i3investor.com/web/pricetarget/research/69720

Posted by charlie chia > 2023-12-01 07:46 | Report Abuse

Kenanga Tp at 17 Cts

Posted by Macgyver11 > 2023-12-01 08:08 | Report Abuse

https://oilprice.com/Energy/Energy-General/OPEC-Headed-for-2-Million-Bpd-Oil-Output-Cut-in-2024.html

Posted by Macgyver11 > 2023-12-01 08:29 | Report Abuse

https://www.thestar.com.my/business/business-news/2023/12/01/velesto-in-position-to-rebound-from-subdued-results

CGS-CIMB Research said other rig contractors had negotiated contracts in the past six months at US$150,000 per day to US$168,000 per day.
“While we do not expect Velesto to secure such high rates for its new umbrella contract with Petronas Carigali, the robust DCRs show just how tight the market is as drilling activities remain robust in the Middle East, India and China,” the research house said.

Velesto had said earlier it was gunning for US$130,000 per day for a new umbrella contract, but it recently announced that it had renegotiated the rate for the Naga 8 drilling contract to US$135,000 per day.

Meanwhile, Maybank Investment Bank Research said Velesto’s third quarter results had outperformed its expectations, given that it expected the group to report a loss.

As such, the research house raised its financial year 2023 net profit forecast for the company by 7% to account for higher overall blended jack-up-rig utilisation rate assumption of 82% for the year from 81% previously.

Posted by Macgyver11 > 2023-12-01 08:33 | Report Abuse

HLIB research firm said it has a “hold” call on Velesto with an unchanged target price (TP) of RM0.25.

Posted by Dehcomic01 > 2023-12-01 08:40 | Report Abuse

The Malaysian oil and gas services companies have had a challenging time over the past few years. They have not benefitted from the high crude prices. The last time Velesto had a positive ROE was in 2014, about 10 years ago

Posted by rizal2020 > 2023-12-01 09:49 | Report Abuse

Vele glory will return soon ... 2 close lorr !
I guess b4 enter 2024 sudden pick will do ... Dt miss the boat

Posted by Expertise > 2023-12-01 10:28 | Report Abuse

strong supp from syndicates and institutions…booming soon

Posted by WWCD1688 > 2023-12-01 13:19 | Report Abuse

Whats the best price to entry?

Posted by WWCD1688 > 2023-12-01 13:19 | Report Abuse

Need some pocket money for cny

Posted by specializedvenge > 2023-12-01 13:51 | Report Abuse

Top volume yesterday and today.. Something is brewing..

Posted by sheep > 2023-12-01 14:27 | Report Abuse

Waiting at 20sen.. hope to get it..wakaka

Posted by Expertise > 2023-12-01 15:03 | Report Abuse

Cheapest price 20cents…let see shark wanna let you strikes….

Posted by JamesTalk > 2023-12-01 15:11 | Report Abuse

Cimb TA buy call

Posted by royalinvestor > 2023-12-01 15:25 | Report Abuse

current peice is quite low lorrr
u wait and cc .... later sudden jump
MISS LOrrrrrrrrrrrrr

Posted by BobAxelrod33 > 2023-12-01 16:33 | Report Abuse

PNB wants to run road.......you want to jump in........still scratching my head......

Posted by Lewis Lee > 2023-12-01 16:39 | Report Abuse

Top volume but unchanged … meaning from left hand to right hand then right hand to left hand … like playing ku ku bird only !! 😂

Posted by royalinvestor > 2023-12-01 16:42 | Report Abuse

Vele still standing .... if new management posiblity much2 better price shooting lorrr

Posted by royalinvestor > 2023-12-01 16:46 | Report Abuse

playing kkuku bird to collect more lower price from the weak holders .... once their target hit only the show out