share 0.055,like pn17 company,just keep and wait,200000 share only rm11000,if loss all,only rm11000,if win,umlited。for me,form me,if price down to 0.03,i will cut loss,controlling the risk
Hahahha... Just for fun, if the avg production BOE is 2,248, back of the envelop calc, the revenue this Q1 2022 will be around approximately RM63 to 65 million, (or more??)
2020 ebitda negative (125m), at least 2021 ebitda positive 35m is very good turn around. with 2022 crude oil average stay above usd 100, confident this counter should be good bet. lets see end of may 1st qr out, if still running losses, then can consider this counter useless.
Reach Energy Berhad (REB or the Company) - Issuance of Unqualified Audit Opinion with Emphasis of Matter on material uncertainty relation to going concern in respect of REBs audited financial statements for the financial year ended 31 December 2021 Pursuant to paragraph 9.19(37) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, kindly note that the Company's external auditors, PricewaterhouseCoopers PLT, have issued an unqualified audit opinion with emphasis of matter on material uncertainty relating to going concern, in view of the challenges arising from operational issues which have affected the Group’s ability to meet production targets and the volatility of crude oil price as a result of the uncertainties surrounding the industry caused by, among others, the COVID-19 pandemic and the Ukraine-Russia conflict, in respect of REB’s audited financial statements for the financial year ended 31 December 2021.
Why auditor ignore the fact brent price already up from 40 to 100 tikk last year dec. Going on concern totally ignore the fact brent price was at above 100 on dec. Meaning it said reach cant survive even brent at 100 usd.
i think the production is not high enough even tho price skyrocketed... i understand there is 'export quota' that they have to apply.. the ones that they sell domestically not getting the high prices...
2020 oil price brent oil 20~50,cost of prodution is25~30,so the production at 2020 just 16xx,sell more loss more,now 2021,the oil price brent oil 100 ,so you can see the production is up 2xxx,but the highest record is 3100 bopd per day,you can count how many earn money if the produxcion hit targe 3100
root cause is covid + low brent crude price that cause them to reduce production. normally higher production will bring down the cost to normal at below usd 10 which mention in 2021 annual report.
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....
Icon 888
2,299 posts
Posted by Icon 888 > 2022-03-24 02:08 | Report Abuse
Oil 150 Boleh ke?