Posted by RJ87 > 2024-05-03 19:41 | Report Abuse

U guys better go Genting.

Posted by RJ87 > 2024-05-03 23:52 | Report Abuse

buy today expect up tomorrow. Better go genting. No need wait a day. 30seconds will know if u make 100% or lose 100%

Posted by Gentingbig > 2024-05-04 01:36 | Report Abuse

RJ you are right lah the thumb of rule when playing shares...make sure the fund are spare money which one can afford to just park it there for 1 or 2 years if come the worst. but then the profit gain mustt be more than bank FD

Posted by Macgyver111 > 2024-05-04 10:01 | Report Abuse

In velesto you no need to wait for 2/3 year. Explosion around corner (after dividend). As long higher crude oil price, we're pretty much safer here. All you need is patience.

Posted by Gentingbig > 2024-05-04 10:48 | Report Abuse

THANKS thanks i sold a lot of epicon yesterday so got fund to load more velesto. i am confident now as i just read kenanga analysis report on this counter beside reading all contributors posting on this forum

Posted by Gentingbig > 2024-05-04 10:54 | Report Abuse

just read Publicinvest
Velesto Energy: Gets contract extension for three jack up drilling rigs to Petronas Carigali. Velesto Energy’s subsidiary Velesto Drilling SB has received a two-year contract extension for use three of its jack up drilling rigs Naga 2, Naga 4, and Naga 6 from Petronas Carigali SB. The company said inclusive of its current drilling campaign assigned between 2023 and 2024, the jobs are worth a collective RM1.25bn (USD265m). The contract extension starts on 7 Feb, 2024, and runs until 6 Feb, 2026, Velesto said in a filing to Bursa Malaysia. Velesto said the contract's extension highlights strong utilisation of Velesto's rigs for 2024.

Posted by jenabchen123 > 2024-05-04 18:50 | Report Abuse

Next week kasi kutip lagi. No brainer if not continue kutip

Posted by Macgyver111 > 2024-05-06 21:57 | Report Abuse

https://paultan.org/2024/05/06/shell-said-to-be-in-talks-to-sell-its-entire-malaysian-petrol-station-network-to-saudi-aramco-report/

Wonder why not Petronas take over this offer..😆😄 Velesto mesti pecut punya.

Posted by Gentingbig > 2024-05-07 19:02 | Report Abuse

make no sense got volume but price stuck at .27 cents for so blady long time. am losing my patience but then cannot bear to cut my losses

Posted by hzboi > 2024-05-07 22:21 | Report Abuse

Oil price go down, Velesto price go up. This stock makes no sense.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-05-09 08:04 | Report Abuse

Daily charter rate near all time high.
High deployment of almost all their jack-up rigs.
Reported big free cash flow in latest results.
Distributed a dividend after many years of zero dividends.
Turnaround. Price has risen 100% from its lowest.

Cyclical business directly related to oil price.
Oil price is projected to be high for the near term.
Sustainability? Stability? Dependent on Petronas for contracts.
Focus on long term contracts. Revenues and profits visible for the next 2 years (2024 and 2025) for now.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-05-09 08:09 | Report Abuse

How to improve return to shareholders?
Utilisation rate is now 85%, where is the growth?
M&A? Rigs are very expensive. Not looking to increasing the number of rigs.

Can EBIT margin of 4th qtr of last year be maintained?

Short charter rate versus long term charter rate are different.

Presently, the situation is everyone wants rigs!

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-05-09 08:16 | Report Abuse

Is Velesto price fully valued?
It is more expensive than other comparables.
Sustainable returns to shareholders? Little growth going forward.

How to bring value to shareholders? No plan for inorganic growth.

O&G is cyclical. Stay in upstream. Looking into production space. Operating expenditures only, not heavy capex needed. More sustainable. Must be asset light (based on recent past experience, victim of recent downturn in O&G).

Future: Focus on Asset light and Production.


Jaguh kampong! Dependent on Petronas (eg Sapura Kencana, others)
All 6 rigs operating in Malaysia. Is it able to compete internationally?

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-05-09 08:20 | Report Abuse

Today, Velesto is performing. Challenge - how to get to net carbon zero? How to invest into renewables? No plan for now.

Posted by Gentingbig > 2024-05-09 09:24 | Report Abuse

so now what is your summary...to load or to unload?

Posted by Gentingbig > 2024-05-09 09:27 | Report Abuse

1st first comment positive but your 2&3 comment contradict your 1st so conclusion need to hold long term as of now this stock performance dont look good. is confusing lah

Posted by Macgyver111 > 2024-05-09 11:55 | Report Abuse

https://www.businesstoday.com.my/2024/05/08/velesto-drilling-down-to-a-better-quarter/

Posted by SinGor > 2024-05-09 14:47 | Report Abuse

https://oilprice.com/Energy/Energy-General/Deepwater-Exploration-Is-Booming-Again.html
___________________________

Saudi cancelled Jack-Up Rig Contracts but the Whole Industry wants Jack-Up Rigs

Posted by Lewis Lee > 2024-05-09 15:27 | Report Abuse

TP = 40ct soon !!

Posted by Lewis Lee > 2024-05-09 15:28 | Report Abuse

KUALA LUMPUR (May 8): Offshore drilling firm Velesto Energy Bhd (KL:VELESTO) is expected to report that its net profit may more than tripled in the first quarter (1Q) from a year earlier with all of its rigs utilised, Maybank Investment Bank said.

Net profit will likely come in at RM45 million-RM50 million for the three months ended March 31 when the company announces its results on May 23, Maybank IB said in an earnings preview note. That compares to RM14.22 million in 1QFY2023 and RM66.7 million in 4QFY2023.

A drilling job with a daily charter rate of about US$165,000 (RM781,536) won by another company indicates that the market is still currently “very tight” and rates are still rising, Maybank IB said. “Local drilling outlook is still robust, in our view.”

Shares of Velesto have climbed nearly 20% so far this year amid optimism that elevated oil prices will further boost demand for its services, and analysts broadly think there is more upside to the company valued at over RM2.2 billion on Bursa Malaysia.

A majority of seven out of eight analysts covering Velesto have "buy" calls on the stock and only one "hold" rating. The consensus 12-month target price is 33 sen, suggesting a further 18% gain from current prices.

Still, the stock has been under pressure since April amid concerns that Saudi Aramco's broader suspension of jack-up rigs may prompt owners to send their idling assets elsewhere and pressure charter rates.

Velesto announced in March 2024 that it has secured contract extensions for Naga 2, Naga 4 and Naga 6 for the next two years while its Naga 8 is contracted till October 2025. That leaves only Naga 3 and Naga 5, which according to Velesto, are in bids and negotiations for contracts till end-2025, Maybank IB noted.

“With that, we conclude that Velesto is pretty much shielded until then, as all of its rigs will be fully utilised for the next 18 months,” Maybank IB noted. Utilisation rate will likely come in at 94% with an average blended daily charter rates of US$98,000, according to Maybank’s forecast.

Maybank IB added that it is confident that Velesto will continue to show earnings growth over the next two years.
Source: TheEdge - 9 May 2024

Posted by jenabchen123 > 2024-05-09 21:48 | Report Abuse

Tutup mata kasi angkat saja. Dont let institutional only making money, we retail can join this wild party too. From losing money to now making huge money. No brainer if not joining.

Posted by ronaldotheGOAT > 2024-05-10 16:30 | Report Abuse

buy velesto below 0.30

Posted by azfar8 > 2024-05-13 16:04 | Report Abuse

Ok, I buy now.

Posted by Ninja _07 > 2024-05-14 12:03 | Report Abuse

Ok I buy now also

Posted by Lewis Lee > 2024-05-14 14:56 | Report Abuse

I think the next Q result will be another surprise !! 0.35 to 0.40 is within reach !!

Posted by SinGor > 2024-05-14 21:31 | Report Abuse

waiting for Bull-Run----When everybody just want to Buy and donT want to Sell

Posted by Baby Shark > 2024-05-15 07:26 | Report Abuse

Be careful when 0.35-0.40.. time to make money

Posted by liferosak > 2024-05-15 09:41 | Report Abuse

tp 0.5

Posted by hzboi > 2024-05-15 10:39 | Report Abuse

Ok I tambah now. Hopefully sharks done collecting and this start to go up

Posted by Gentingbig > 2024-05-15 12:09 | Report Abuse

singor but notice seller now more then buyer now . although key in from morning .285 also yet to be done

Posted by jenabchen123 > 2024-05-16 08:32 | Report Abuse

Too long queue at 285. Just grab at 0.29 for not taking risk missing the predicted bull

Posted by Macgyver111 > 2024-05-17 19:21 | Report Abuse

Qtr around corner..going to burst soon. After the qtr believed more institutional join in (waiting for EPF). When we call buy @ 0.15, many newbies shouting...then velesto break 0.20 floor. Now we asked collect below 0.30, many shouting again said lousy stock..after break 0.30 NO return back...don't miss the boat.

Posted by Gentingbig > 2024-05-17 20:09 | Report Abuse

have been keeping this counter for almost 2 months. everyday also got volume but price stuck there from 0.27.5 to 0.29 every day. no doubt one day it will perform but with money stuck for months then have to say there are other profitable counter to trade

Posted by SinGor > 2024-05-18 18:22 | Report Abuse

Bull Run will certainly starts next week Before Q results---Main reason is Result is predictable ( i already said
last Qr ) Alot Bankers are just rubbing their hands to lay Bets ( Bankers are too conservative to be FOOLED )
I think this Run will last atleast One Month depending whether Foreign Funds are jumping in or Not----
In this Case, you will see Tsunami on Both Directions ( scary ---worst than Genting )

Posted by RJ87 > 2024-05-20 11:15 | Report Abuse

Just now witness around 5million sell queue evaporated when another big gun sapu 6-7million shares.
Now waiting manipulator to uncover the lid.

Posted by Lewis Lee > 2024-05-20 11:25 | Report Abuse

get ready for surprisingly good QR to be announced soon !!!!! 👍

Posted by hzboi > 2024-05-20 11:40 | Report Abuse

Unless big bank is suppressing price to collect more, crude have maintain mostly above 78-85 range, my guess is that QR should be good. Last dividend was peanuts, if they suddenly surprise another one… good chance 🆙

Posted by SinGor > 2024-05-20 11:41 | Report Abuse

as i said, buyers are not pasar malam shoppers-----they buy in millions

Posted by liferosak > 2024-05-20 11:42 | Report Abuse

so...tp..?

Posted by SinGor > 2024-05-20 11:45 | Report Abuse

donT look for Tp, just in-out for small profit---you cannot fight Mike Tyson---Billions FF returning for
Malaysia State Fund---now parking has nothing to do. People donT park Billion in Banks, everyday
interest in Hundred of thousand

Posted by hzboi > 2024-05-20 12:49 | Report Abuse

The main problem with Velesto is the lack of expansion. How are they going to grow more aside from their current rigs? But as long as oil is above $80, they can reduce their preexisting debt and increase in cash flow. My hope is that Velesto can find ways to expand and not just be a boring rig company.

Posted by SinGor > 2024-05-20 13:42 | Report Abuse

Daily charter rate is growing every Qr. How come you didnT see grow??? You want new ship to expand, you need RI and Bank Loan ( which Bank will loan you a New Ship, given Oil demand will keep falling after 10Years )
Velesto is harvest Hay when there is still SunShine

Posted by Gentingbig > 2024-05-20 22:11 | Report Abuse

i offload all of my 800000 lots at breakeven as fed up of waiting for 1 month without any rpogress at all. i brought at .275 when i notice foreign fund buying spree . anyway no regret as i switch counter to epicon and mbsb and uems . i can make money just within 2 days

Posted by Gentingbig > 2024-05-20 22:12 | Report Abuse

with so high volume today if will reload at .28 if i can

Posted by Macgyver111 > 2024-05-21 09:47 | Report Abuse

Wou! Genting should be filthy rich ho!..800,000 lots man.
New shareholder..

Posted by Ninja _07 > 2024-05-21 11:06 | Report Abuse

800,000 lots is 800,000,000 units. Then @Gentingbig must be the biggest shareholder. hahahahhaha

Posted by SinGor > 2024-05-21 11:13 | Report Abuse

Old timer like ME, One Lot is 1000----Genting with 800,000 Lots is SECOND velesto biggest shareholder---
No harm doing some Bragging Rights----Nobody Cares----Every Body for HIMself only

Posted by necessity > 2024-05-21 11:26 | Report Abuse

they(USA) keep pressing the price lower prior election till NOV..so i ll wait a lil bit till come to the right entry price.. its a patient game for me..

Posted by SinGor > 2024-05-21 11:59 | Report Abuse

looks like today will Closed at 0.30000

Posted by Gentingbig > 2024-05-21 12:18 | Report Abuse

what bragging are you calling out at ??? i cut my losses at breakeven . i brought 800000 untis which is only equivalent to 80 lots right .