Posted by melkeng888 > 2022-06-30 19:37 | Report Abuse

after the deal complete, very soon will see hammer capital dispose off emir oil.

Posted by melkeng888 > 2022-06-30 19:42 | Report Abuse

with this 14% interest offset to share and 13m reduce to 5%, emir oil definately able to show profit.

Posted by TheContrarian > 2022-06-30 19:59 | Report Abuse

The Hong Kong tycoon has big plans for Emir Oil. Already holding 40% in Emir Oil, he is posed to emerge with almost 50% shareholding in Reach, making him the single largest shareholder in Reach.

Posted by melkeng888 > 2022-06-30 20:34 | Report Abuse

with major controlling of reach, he had no resistance or objection to dispose emir oil. he is investor, i dont think he will manage emir oil.

Posted by DonLee > 2022-06-30 20:39 | Report Abuse

he already control reach all board member need to listen to him now.

Posted by DonLee > 2022-06-30 21:16 | Report Abuse

Reach Energy completed the purchase of the 60% stake in Emir-Oil, via the purchase of equity in Palaeontol BV for US$175.9 million, on Nov 25, 2016.

The vendor was Palaeontol’s parent company, Hong Kong-listed MIE Holdings Corp, which kept the remaining 40%. The acquisition fulfilled Reach Energy’s requirements as a special purpose acquisition company to acquire a qualifying asset within a 36-month period, allowing it to graduate into a fully independent O&G E&P company.

Shahul said the company now has a different focus, which is to consolidate operations and increase oil production.

The group plans to increase its oil production to between 4,000 and 5,000 barrels per day (bpd) by the end of the year. The company’s production levels currently stand above 3,000bpd. It currently has 54 oil wells in Emir-Oil, and plans to gradually add on another 34 by 2026.

“We took full control of Emir-Oil only in May, following a six-month handover agreement with the vendor. So it’s hardly been two months. We are now introducing our methodologies, our improvements and our way of doing things. It’s showing results. [I know because] I’m there, I’m hands-on,” said Shahul, adding Reach Energy’s focus this year and next will be on turning around the whole business to increase production and efficiency.

Posted by DonLee > 2022-06-30 21:22 | Report Abuse

https://www.theedgemarkets.com/article/reach-energy-remains-optimistic-about-emiroil

Posted by DonLee > 2022-06-30 21:24 | Report Abuse

kena kencing kaw kaw shareholers

Posted by DonLee > 2022-06-30 21:26 | Report Abuse

now selling half of the 60 % for 49.5 M USD. 2016 paid 175.9 M usd for 60 % shares. that time oil price at 100 level too. paying so much money 175.9 M usd.
i am very hand on one.

Posted by melkeng888 > 2022-06-30 21:50 | Report Abuse

so now they can look for new buyer selling at 176m usd

Posted by face > 2022-06-30 22:05 | Report Abuse

Good news!! Hong Kong tycoon emerged as the largest shareholder of Reach
https://www.theedgemarkets.com/article/reach-energy-see-emergence-485-shareholder-us49-mil-debttoequity-exercise

Posted by mystery > 2022-06-30 23:14 | Report Abuse

The share price speak louder than any words. If share price can go above 0.075, then only showing market believe it. If not, vice versa.

Posted by melkeng888 > 2022-06-30 23:57 | Report Abuse

yes agree. what prediction just prediction. lets see

Posted by Bright888 > 2022-07-01 07:44 | Report Abuse

A rich tycoon is paying RM 0.20 per share of the enlarged Reach shares of 2.13b. There is a loan facility of RM 22.01m as working capital mainly for EP to increase production. Also a proposed exemption that SRL have NO intention of takeover REB

Posted by Bright888 > 2022-07-01 08:34 | Report Abuse

This is something like TWO systems but one REACH.

Posted by jasontan1177 > 2022-07-01 08:38 | Report Abuse

Oil price at 110 . MD selling half of reach right to the oil field at cheap cheap price

Posted by adikkici > 2022-07-01 08:40 | Report Abuse

Gap up opening.. something goodddd today

Posted by jasontan1177 > 2022-07-01 08:42 | Report Abuse

175.9 M divided by 2 is 87.95m usd. Now he selling it half at 49.5m . Lose 38.90m and the oil price now is 110

Posted by jasontan1177 > 2022-07-01 08:48 | Report Abuse

Shareholders should reject the deal. N sack the MD

Posted by face > 2022-07-01 08:52 | Report Abuse

This Hong Kong tycoon sees Reach worth more than 0.20 a share, he sees better times ahead for Reach.
Hong Kong citizen Cheung Siu Fai, a former head of Asia Pacific of the Strategic Equity Solutions of Merrill Lynch (Asia Pacific) Ltd. Cheung is also the founder of Hammer Capital Group.
https://www.theedgemarkets.com/article/reach-energy-see-emergence-485-shareholder-us49-mil-debttoequity-exercise

Posted by jasontan1177 > 2022-07-01 08:58 | Report Abuse

From 74 sen on Nov 9, its share price plummeted to an all-time low of 41 sen on July 14. It closed at 42 sen last Friday.

“I am disappointed the share price is like this because the real value was at more than RM1 and there are a lot of upsides in this asset,” chief executive officer Shahul Hamid Mohd Ismail told The Edge Financial Daily. He was referring to the fair value given to the stock during its initial public offering (IPO) in 2014. The current price is also well below Reach Energy’s IPO price of 75 sen a share.

Posted by B4b4 > 2022-07-01 08:58 | Report Abuse

Buy buy buy

Posted by jasontan1177 > 2022-07-01 08:59 | Report Abuse

last time he said worth more than 1 RM .

kns
https://www.theedgemarkets.com/article/reach-energy-remains-optimistic-about-emiroil

Posted by B4b4 > 2022-07-01 08:59 | Report Abuse

More funds coming in from HK

Posted by mystery > 2022-07-01 09:05 | Report Abuse

lol, nothing happen lah, 0.055 finish disposed off by market, market does not perceive this as good news

Posted by adikkici > 2022-07-01 09:09 | Report Abuse

Sabarlah kawan.. apek2 baru balik dari exercise.. baru tengok chart

Posted by jasontan1177 > 2022-07-01 09:15 | Report Abuse

now he is fooling us by saying reach market price only at 5 cent, can sell 20 cents its a very very very good deal.

Diu. u can press down to 0.5 cents and said can sell 20 cents , that is 4000 x , vely.......good deal

Posted by Citadel666 > 2022-07-01 09:22 | Report Abuse

no water fish rush to buy 0.06 hahaha

Posted by jasontan1177 > 2022-07-01 09:25 | Report Abuse

reject the deal and demand MO to Reach , at least at NTA price 0.37 an above.

Posted by mystery > 2022-07-01 09:35 | Report Abuse

the deal is not perceived as favorable to the market or investors

Posted by adikkici > 2022-07-01 09:42 | Report Abuse

The operator are too greedy.. always keep press down and dont let the price up

Posted by melkeng888 > 2022-07-01 10:52 | Report Abuse

invest at current price, downsize risk is smaller, the deal still pending for voting to proceed. once proceed the price should be slowly moving up. seems like some one keep pressing the price to go up

Posted by adikkici > 2022-07-01 11:14 | Report Abuse

Maybe they want 0.055 to cover disposal by MTD

Posted by mystery > 2022-07-01 11:16 | Report Abuse

Based on shareholders analysis as at 1 Apr 2022, 51% shares in 30 top shareholders hand. And, only 49% in outside, in year 2022, the transactions volume is so low only till recently become hot, even press, they cannot accumulate enough ticket in this manner.

Posted by jasontan1177 > 2022-07-01 11:17 | Report Abuse

Bursa should insist a MGO . because last time Reach listing . The main requirement is for Reach to acquire a major controlling stake in oil field. the percentage must be above 50 percent shares.
now REach selling 30 % shares to people and only left 30 % shares to the oil field.

Kenching Bursa kaw kaw too

Posted by mystery > 2022-07-01 11:22 | Report Abuse

the operators thought they press the price can force them out, very difficult lah, those ppl been trapped for so long, and didnt sell until recently, even operators block at 0.055 not much ticket can they accumulate lah.

Posted by adikkici > 2022-07-01 11:22 | Report Abuse

They need political cable

Posted by mystery > 2022-07-01 11:26 | Report Abuse

they need pump and dump, pump and dump then only can accumulate ticket from the hand other than top 30shareholders.

Posted by adikkici > 2022-07-01 11:46 | Report Abuse

Even all media press cover the story but the tycoon still silent

Posted by TheContrarian > 2022-07-01 11:47 | Report Abuse

Reach continues to own 60% of Emir Oil in Kazakhstan. Reach will be getting new boss and controlling shareholder tycoon from Hong Kong. Tycoon will nurse Emir Oil and bring it to great heights. Kazakhstan oil will be in great demand by Europe due to sanctions imposed on Russian oil.

Posted by adikkici > 2022-07-01 11:53 | Report Abuse

About 50 million shares can settle today? I think can't la.. next week maybe

Posted by mystery > 2022-07-01 12:04 | Report Abuse

why need about 50mil shares settled today><

Posted by adikkici > 2022-07-01 12:07 | Report Abuse

0.055-0.075 are 34 mil blocking then also need support. Cant pass 0.075 today

Posted by Citadel666 > 2022-07-01 12:21 | Report Abuse

mana gap up mana gain??? hahaha

Posted by mystery > 2022-07-01 12:21 | Report Abuse

ya, operators no money to buy 34mil shares

Posted by newbie_2016 > 2022-07-01 12:36 | Report Abuse

new shareholder coming in wow!! Promising eh @TheContrarian?

Posted by Dennis8888 > 2022-07-01 12:50 | Report Abuse

Everything Trap becareful

Posted by mystery > 2022-07-01 13:10 | Report Abuse

be cautious, it might be trapped, the news seem like not favorable to market, they might lure ppl to eat 0.055

Posted by BILLC > 2022-07-01 13:24 | Report Abuse

Where got new shareholder?? This HOngkee is a same old shit from the previous related party lahhhh,,,

Wakakaka,,,

Posted by BILLC > 2022-07-01 13:40 | Report Abuse

That shahole habis most probably is this Hongkee frontman lah,,,,wakakaka,,,