The best price is if u didn’t buy now @0.12 Don’t regret when : ICON’s t.p by Feb 2022=> break above 0.20 t.p by Mar 2022=> break above 0.30 t.p by Jun 2022=> break above 0.60 t.p by Sep 2022=> break above RM1.00 t.p by Dec 2022=> break above RM1.50 t.p by Mar 2023=> break above RM2.00
Announcement details Description: AWARD BY CONOCOPHILLIPS SARAWAK LIMITED AND CONOCOPHILLIPS SARAWAK OIL LIMITED (COLLECTIVELY BE REFERRED AS CONOCOPHILLIPS SARAWAK) FOR PROVISION OF A JACK-UP RIG FOR CONOCOPHILLIPS 2022 DRILLING CAMPAIGN TO I OILFIELD SERVICES SDN BHD (FORMERLY KNOWN AS PERISAI OFFSHORE SDN BHD) (IOSSB).
1.INTRODUCTION The Board of Directors (“Board”) of Icon Offshore Berhad (“ICON/Company”) is pleased to announce that its subsidiary company, IOSSB has received a letter of award from ConocoPhillips Sarawak for the provision of a Jack-Up Rig, namely Icon Caren for ConocoPhillips Sarawak’s 2022 drilling campaign.
2.BACKGROUND/DETAILS OF THE AWARD ConocoPhillips Sarawak had on 23 December 2021 issued a letter of award to IOSSB for the provision of a jack-up rig to drill three (3) wells plus one (1) well which is expected to commence in the 2nd quarter of 2022 . The Contract has an estimated value of USD9.6 million.
3.FINANCIAL EFFECTS ON ICON The contract award is expected to contribute positively to the earnings, order book, and net assets of ICON for the financial year ending 31 December 2022.
4.RISKS ASSOCIATED WITH THE AWARD IOSSB is of the view that the risks associated with the contract award are mainly operational risks such as accidents and unexpected breakdowns of the rig with such risks being mitigated through the undertaking of routine dry-docking inspections, repairs, and regular maintenance based on IOSSB’s comprehensive planned maintenance program. Together with IOSSB’s strict health, safety, and security policy and procedures, IOSSB is of the further view that the likelihood and impact of these risks are considered to be manageable within an acceptable level.
5. CONFIDENTIALITY In accordance with the terms of the letter of award, IOSSB has received approval from ConocoPhillips Sarawak on the content and the release of this announcement.
6.DIRECTORS' AND SHAREHOLDERS' INTEREST None of the directors, major shareholders of ICON, and/or persons connected with the directors or its major shareholders have any interest, direct or indirect in the Award.
7.DIRECTORS' STATEMENT Our Board believes that the contract award is in the best interest of IOSSB and the holding company, ICON.
NEW YORK: Oil prices ended 3% higher on Friday at fresh seven-year highs as escalating fears of an invasion of Ukraine by Russia, a top energy producer, added to concerns over tight global crude supplies. Russia has massed enough troops near Ukraine to launch a major invasion, Washington said, as it urged all U.S. citizens to leave the country within 48 hours.
Britain also advised its nationals to leave Ukraine as Prime Minister Boris Johnson impressed the need for NATO allies to make it absolutely clear that there will be a heavy package of economic sanctions ready to go, should Russia invade Ukraine. Brent crude futures settled US$3.03, or 3.3%, higher at $94.44 a barrel, while U.S. West Texas Intermediate crude rose $3.22, or 3.6%, to $93.10 a barrel.
Both benchmarks touched their highest since late 2014, surpassing the record highs hit on Monday, and posted their eighth consecutive week of gains on growing concerns about global supplies as demand recovers from the coronavirus pandemic. Trading volumes spiked in the last hour of trading, with volumes for global benchmark Brent climbing to their highest in more than two months. "The market doesn't want to be short going into the weekend... if an invasion appears to be imminent and you know that there will be retaliatory sanction that will result in a disruption in natural gas and oil supplies," Andrew Lipow, president of Lipow Oil Associates in Houston. The International Energy Agency raised its 2022 demand forecast and expects global demand to expand by 3.2 million barrels per day (bpd) this year, reaching an all-time record 100.6 million bpd. The energy watchdog's report follows the Organization of the Petroleum Exporting Countries' warning earlier this week that world oil demand might rise even more steeply this year on a strong post-pandemic economic recovery. The IEA added that Saudi Arabia and the United Arab Emirates could help to calm volatile oil markets if they pumped more crude, adding that the OPEC+ alliance produced 900,000 bpd below target in January. The two OPEC producers have the most spare production capacity and could help to relieve dwindling global oil inventories that have been among factors pushing prices towards $100 a barrel, deepening inflation worldwide. The Biden administration responded to high prices by again stating this week that it has been talking with large producers about more output, as well as the possibility of additional strategic releases from large consumers, as it did late last year. Indirect U.S.-Iran nuclear talks resumed this week after a 10-day break. A deal could see the lifting of sanctions on Iranian oil and ease supply tightness. In the United States, drillers added the most oil rigs in a week in four years, with the rig count, an indicator of future production, rising 19 to 516, its highest since April 2020, energy services firm Baker Hughes Co said.- Reuters
A lot of people thought that ICON is an oil producing company but it is actually more like a support vessel company. So, it can just ride along the oil rally but under small influence (low rise/drop) no matter how O&G trend goes.
Dato' Sri Hadian Bin Hashim, the managing director of ICON Offshore has just subscribed to 1.65 million units of share at RM 0.105 per unit (12.5% discount based on the closing price, RM 0.12) on 15/02/2022 through ESOS.
Forget the futures market, the world’s most important oil price just smashed through $100 a barrel with every sign it is going to push higher. Dated Brent, the price of cargoes bought and sold in the North Sea, reached $100.80 a barrel on Wednesday for the first time since 2014, according to S&P Global Platts, the company that publishes the marker. Price spreads in the futures market are pointing to one the tightest markets ever.....
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
k3nthiew
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Posted by k3nthiew > 2022-01-27 15:51 | Report Abuse
Hope Icon result will boost the price