reminisce Reach Energy Bhd (REB) has proposed to issue 1.03bn new ordinary shares at an issue price of 20.0 sen per share to undertake a debt settlement exercise involving RM206.5m owed to Super Racer Limited (SRL). At the same time, SRL and Cheung Siu Fai, acting in concert with SRL, intend to seek an exemption from the Securities Commission Malaysia from the obligation to undertake a mandatory take-over offer for the remaining REB shares and the outstanding warrants issued by REB expiring on 15th Aug 2022 on completion of the proposed debt settlement. The proposals are expected to be completed by 2H22. (The Star)
12th largest oil reserves in the world (Malaysia is 26th) 30 billion bbl of proven crude oil reserves (vs. 3.75 billion bbl for Malaysia) Go-to country for oil & gas industry majors
The super-giant Kashagan field, containing 11bn bbl of reserves, commenced production in October 2016 Favourable Geological Conditions Located in Western Kazakhstan the most prolific region in the country Emir-Oil Concession Block is located in a proven oil region surrounded by other producing fields, such as the Zhetibai and Uzen oilfields
Developed Infrastructure Major oil pipelines link Kazakhstan with Europe, via Russia, and China Emir-Oil Concession Block is located close to export and distribution infrastructure centered around Aktau, Kazakhstan’s main Caspian Sea port
Kazakhstan is is well known as the oil-rich country’s ........yet to be tapped.. REACH is lucky the only Malaysian oil&Gas company to operate here.......
The field O&G whose ultimate development price tag is estimated at more than $20 billion, lies in the shallows of the northern Caspian Sea. If gas reinjection is successfully implemented, it is expected to yield between 9-13 billion barrels of sweet, light crude, making it one of the world's top six deposits and the colossus of the Caspian region.
Kazakhstan is sparsely populated country--the size of Western Europe--in 2015 exporting 3 million bpd by. This is more than Russia exports today at that time and would place Kazakhstan among the world's top six exporters years to come.
if lucky it will hit 1-2 cents or in the range 2-3 cents the baseline..may be....... hahaha..sharks too watching and eyeing with interest.. oil demand and pricing is going to be pivotal up trending.....
yeeah.... Reach never reach its destiny....how come.. NOSH still 1092 millions...nothing much of said introducibg new shares as previouslu annkuncenebts
..Reach Energy Bhd (REB) has proposed to issue 1.03bn new ordinary shares at an issue price of 20.0 sen per share to undertake a debt settlement exercise involving RM206.5m owed to Super Racer Limited (SRL). At the same time, SRL and Cheung Siu Fai, acting in concert with SRL, intend to seek an exemption from the Securities Commission Malaysia from the obligation to undertake a mandatory take-over offer for the remaining REB shares and the outstanding warrants issued by REB expiring on 15th Aug 2022 on completion of the proposed debt settlement. The proposals are expected to be completed by 2H22. (The Star)
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....
billionman
828 posts
Posted by billionman > 2022-07-28 11:18 | Report Abuse
Q2Q
30-May-2022 31-Mar-2022 51,219 -5,061 2,934 366 5.73% 0.09% 0.00 0.00 0.37 100.58%+