Very likelly they will flush out all the 2018 worms in this QR.. afterall, 2018 surelly a loss already.. and currently brent price also not that good.. hopefully 2019 will be a better year for Reach..
Price dropped due to lack of buyers as everyone is staying at the sidelines waiting for release of QR. People who bought and couldn't take up are been forced to sell off.
Yes Q result shown Reach is progressing and showing better and better performance. The pattern of the Q result is similar to Hibiscus and fruitful return is on the way, just be patience.
Reach has increased production from 2600 to 3100 oil barrels from Oct to Dec 2018 but that period oil price was low. From Jan to Feb 2019, oil price up and with increasing production, coming Q shall be much better performance. Hibiscus also made several right issues and now how much of the share price ??
finally have see production oil barrels up, during oct-dec'18 brent oil price drop gaogao...but REACH revenue still can up from 40.8m up to 69.3m...is a good start... and hope management can as soon as possible to settle the finance cost problem...hehe
@smallplayernia ,i not sure, if they dont want faster push up production,no money to pay loan, will do private placement / right issue...if next quarter result revenue continue up is good...
“I really am disappointed that the market does not appreciate the value of our acquisition,” said Shahul Hamid. “It’s (Emir Oil) is a very good asset but somehow the market does not seem to appreciate that.”
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....
newbie_2016
609 posts
Posted by newbie_2016 > 2019-02-27 18:29 | Report Abuse
@TheContrarian who dump the price? why not going up meh?