Posted by twynstar > 2023-09-28 21:54 | Report Abuse

Russian Oil Is Trading Closer to $100 Than the G-7 Price Cap


Russia’s flagship Urals grade is trading at $85.35 a barrel from the Baltic port of Primorsk and $86 from the Black Sea port of Novorossiysk.



https://finance.yahoo.com/news/russian-oil-trading-closer-100-103001221.html

Posted by Chong3710 > 2023-09-28 23:20 | Report Abuse

What the use of all these news, Reach equipment is not efficient, they are not able to increase production, do you think it’s going to increase their revenue even oil traded above USD100?

Posted by newbie_2016 > 2023-09-29 23:51 | Report Abuse

and ceo resigned! haiyaaaaa.... @TheContrarian what's up with this company??

Posted by arcadicus > 2023-09-30 10:06 | Report Abuse

End of contract la ...

Posted by rohank71 > 2023-09-30 10:52 | Report Abuse

2036, the concession to DIG oil expires. So have 13 years to go full swing. To do that must invest lots of money, but company and shareholders have no money. BIG rights issue coming?

Posted by EngineeringProfit > 2023-09-30 10:54 | Report Abuse

Unless this quarter can fetch over RM20 mil net profit$

Posted by rohank71 > 2023-09-30 10:56 | Report Abuse

No equipments to pump oil can't pump oil enought to make BIG money. No banks lend to O&G asset.

Posted by rohank71 > 2023-09-30 10:57 | Report Abuse

Unless BIG names.

Posted by Dehcomic01 > 2023-09-30 11:01 | Report Abuse

Except for 2016, the company has delivered negative ROE every since despite the high crude oil prices. So will it make money when oil prices comes down?

Posted by EngineeringProfit > 2023-09-30 11:16 | Report Abuse

That's why its price can only go up with more green QR

Posted by newbie_2016 > 2023-10-09 11:37 | Report Abuse

hope this Q will be green Quarter!!!

Posted by EngineeringProfit > 2023-10-14 10:47 | Report Abuse

No Green, no huat

Posted by B4b4 > 2023-10-16 13:38 | Report Abuse

buy . SRL is in control

Posted by Apastock > 2023-11-16 20:00 | Report Abuse

steady 1 more green, let shiooting star...

Posted by newbie_2016 > 2023-11-23 11:43 | Report Abuse

wow still got hopeful people!!

Posted by arcadicus > 2023-11-30 18:29 | Report Abuse

Latest QR green wor....😁

Posted by newbie_2016 > 2023-12-03 09:08 | Report Abuse

hahahaha green but no 'GO' wor.... still got hopeful people tho...

Posted by newbie_2016 > 2023-12-04 13:44 | Report Abuse

wow somebody just dumped??

Posted by newbie_2016 > 2023-12-06 14:29 | Report Abuse

oh the previous ceo just dumped his shares... weird guy

Posted by newbie_2016 > 2023-12-06 14:29 | Report Abuse

@TheContrarian whats your take?

Posted by B4b4 > 2024-02-07 09:53 | Report Abuse

Just buy and keep la. Only 3s.....the cheapest oil company in the world

Posted by MrFox > 2024-02-07 09:55 | Report Abuse

so u r saying it will remain the cheapest?
haha

Posted by triplex3mob > 2024-03-04 15:56 | Report Abuse

cannot REACH the sky....

Posted by modestos > 2024-03-13 18:10 | Report Abuse

another mismanaged O&G. Quote from NST 2023 "The company's financial situation deteriorated due to falling oil prices and the high costs of exploration and development in Kazakhstan.". Even the price of oil above which is way above USD70 also no money to be made. Kazakhstan oil concession is onshore, cost to extract is USD15 or lower. Reach Energy made the new discovery in the Emir Oil block through the drilling of the North Kariman-3, This suggests that NK-3 would be a highly productive well once we commence production. Still need exploration?

Posted by bizbro > 2024-03-14 16:43 | Report Abuse

hahahaha nice one, REACHing to the bottom

Posted by B4b4 > 2024-04-02 15:10 | Report Abuse

Brent oil prices going up and up ie USD 88 pb.

Posted by B4b4 > 2024-04-15 11:24 | Report Abuse

Reach ......going cheap....only 3s

Posted by B4b4 > 2024-04-15 11:24 | Report Abuse

Brent now above 90 pb

Posted by newbie_2016 > 2024-04-15 13:04 | Report Abuse

waaaaaahhh B4b4 you promoter Reach ka?? ;)

Posted by B4b4 > 2024-04-17 18:00 | Report Abuse

Reach has got plenty of oil reserves P1 worth RM 3.3 b

Posted by Orson Chin > 2024-04-18 23:37 | Report Abuse

Look likes hk boss not going to rebuilt this company

Posted by B4b4 > 2024-04-19 09:58 | Report Abuse

Hk boss bought over more assets from MIEH

Posted by bizbro > 2024-04-22 16:49 | Report Abuse

rebuilt what, waste money lah

Posted by rohank71 > 2 months ago | Report Abuse

it will be PN17 or PN16 soon. better just walk away.

Posted by modestos > 2 months ago | Report Abuse

no matter how fancy the news or juicy opportunity. the opportunity does sums up with years of losses incur even with the seductive oil prices. what went wrong and where went wrong. be sober

Posted by newbie_2016 > 1 month ago | Report Abuse

moving...

Posted by raymondroy > 1 month ago | Report Abuse

my former boss was the former CEO of the company before the Chinese investor took over. Unfortunately, the oil fields and investments are situated in one of the most corrupted (but developing) region of the world.... if you dont pay pay pay your way business will stop.... or if you pay wrong ppl even worse. Today their partner in this land locked nation is the government, and same time they are also suing the same government for claim of unpaid taxes..... haish until when this continuous bleeding will go on..... :-) peace & happy hunting

Posted by newbie_2016 > 1 month ago | Report Abuse

aiyooo.. auditor didn't find that ka? i understand the clean auditors report issued ma..

Posted by newbie_2016 > 1 month ago | Report Abuse

@raymondroy I wonder your former boss who was the former CEO of the company before the Chinese investor took over didn't do due diligence before buying?

Posted by Robert Waters > 1 month ago | Report Abuse

So, what is the take on this stock ? Caught my attention recently. Near all time high, I notice.
I guess using chinese management to improve project in Kazakhstan is not always working out. Still lossess are adding up.
What is the case to buy it ?

Posted by Robert Waters > 1 month ago | Report Abuse

Where is the contrarian when you need one ?

Posted by TheContrarian > 1 month ago | Report Abuse

The Chinese owns the Kazakhstan oil concession directly 40% while Reach Energy owns the balance 60%. The oil is plentiful there but the problem is extracting the oil. Huge impairment has already been made to write down the cost of plant and equipment. Now we need to wait for the turnaround or disposal of the whole concession.

Posted by Robert Waters > 1 month ago | Report Abuse

Many thanks. Word of reason.

Posted by newbie_2016 > 1 month ago | Report Abuse

Good to hear from you TheContrarian! Been a while!!

Posted by newbie_2016 > 1 month ago | Report Abuse

Yes, agreed with you Robert Waters! Word of reason. Very insightful.

Posted by newbie_2016 > 3 weeks ago | Report Abuse

Why was Ordinary Resolution 6 appointment of PwC was withdrawn?

Posted by TheContrarian > 3 weeks ago | Report Abuse

Auditors tendered resignation.

Posted by newbie_2016 > 2 weeks ago | Report Abuse

Any thoughts @TheContrarian?

Posted by slumdoge > 1 week ago | Report Abuse

Reach to the Sky?

Posted by Robert Waters > 3 days ago | Report Abuse

Reach the very bottom near term. And bounce off it.