Posted by billionman > 2023-04-05 07:22 | Report Abuse

opportunities all are plan.to push price for somebody synd to amass.....hahahaaa

Posted by billionman > 2023-04-05 07:23 | Report Abuse

why so huge volume changing hands. ..why

Posted by billionman > 2023-04-05 07:23 | Report Abuse

those tycoon are amass to average down .20 cents..hahaaaaa

Posted by billionman > 2023-04-05 07:24 | Report Abuse

plus minus..they still making big

Posted by billionman > 2023-04-05 07:32 | Report Abuse

push price down..somebody collecting low..trending

Posted by TheContrarian > 2023-04-05 09:19 | Report Abuse

Reach actually triggered PN17 based on 31.12.22 QR which was released on 28.2.23 but didn't announce it until 3.4.23. On 29.3.23 debt conversion into 1 billion shares is already the first step to rectify the PN17 situation.

Posted by TheContrarian > 2023-04-05 09:26 | Report Abuse

This HK controlling shareholder is actually interested in the 60% Kazakhstan subsidiary owned by Reach where he already holds the remaining 40%. Now he controls 100% of the Kazakhstan subsidiary.

Posted by JuliusCeasar > 2023-04-05 09:39 | Report Abuse

Agree

Posted by KimSua > 2023-04-05 10:35 | Report Abuse

Reach being in the red since inception, any promise of turn around depends on the any major potential oil find or efficiency in Kazakhstan contracted area. So far can't see any . It has not been making money since 2014, even at 2018 when oil price slightly recovered. This business are based on other peoples money to keep going. Good gamble?

Posted by TheContrarian > 2023-04-05 12:30 | Report Abuse

@KimSua, oil is there, the problem is they were not extracting it in great quantities.

Posted by newbie_2016 > 2023-04-05 13:09 | Report Abuse

@TheContrarian that makes me wonder... why so hard? its not deep sea right? on land some more.. should be easy??? Can you share me your thoughts on this?

Posted by pang72 > 2023-04-05 13:13 | Report Abuse

How come laudly announce the new controlling shareholder then fall into pn17?
I thought new shareholder, new business?

Posted by slumdoge > 2023-04-05 14:19 | Report Abuse

dissapointing af....

Posted by JuliusCeasar > 2023-04-05 15:59 | Report Abuse

I think new management know very well that REACH would be faced PN17. They together with earlier management could request extension of time to announce it. Their priority first is to complete new issuance of share at the price of 20C.

Posted by JuliusCeasar > 2023-04-05 16:01 | Report Abuse

They knew the share price would drop and they are about to work together with syndicates to buy more at the very low low price. If today still hit and closed at 5.5c like yesterday then the price could go back high at 7C. Just look n c.

Posted by jasontan1177 > 2023-04-05 16:41 | Report Abuse

Already set the tune, screw you all minority share holder la. keep PP billions of shares and do consolidation 20 into 1.


pang72

How come laudly announce the new controlling shareholder then fall into pn17?
I thought new shareholder, new business?

3 hours ago

Posted by hoot9e996 > 2023-04-05 18:23 | Report Abuse

those who ran twice happy buy 4.5 and sell 7.5c twice..
now wait for history to repeat itself again

Posted by jasontan1177 > 2023-04-05 18:41 | Report Abuse

wei this is my new comp u know. you all dun touch my shares.

you touch, I let you all die. wait let me ask my comp
pp to me 5 billions more shares... kikkikiki see who die

Posted by KimSua > 2023-04-06 07:11 | Report Abuse

Emir Oil , Kazachztan oil field cannot break even for the last 10 years , the debt conversion is due to the fact that interest rate still has room to rise . To think that opec cuts is positive is wishful thinking. Short term shock results in the oil price increase, long them fact is the OPEC+ inventory is seeing a 10% increase since FEB. Meaning demand is not as high as expected. China is demand might be increasing but it has its own stock pile reserves and it chooses to get it from Russia mainly at a lower price. Remember to Reach , oil is not making money yet but equity share holders money is easier to accumulate. Some one needs to look at its breakeven potential and their PN17 recovery reports. Until then gamblers know when to walk away or to run. Good luck

Posted by EvoDeer > 2023-04-06 09:40 | Report Abuse

No hope

Posted by jasontan1177 > 2023-04-06 10:00 | Report Abuse

Oil price is bullish, but Reach is not able to deliver goo QR report for the past one year when oil price at 70 to 110 usd. some company boss do value creation, company make good profit, share price up up up .
Then got some evil company do value desstruction....share price down down, comp cant generate cash flow and profit. only good in screwing minority share holder.
Lousy management. Mark my words la, PP till total share 6 B then 20 to 1 share consolidation.

Posted by Nickhii90 > 2023-04-06 10:09 | Report Abuse

gg like sapura

Posted by triplex3mob > 2023-04-06 15:02 | Report Abuse

someone is gonna pick up, shares changing hand now

Posted by Nickhii90 > 2023-04-07 09:30 | Report Abuse

today got show?

Posted by EvoDeer > 2023-04-07 10:33 | Report Abuse

Jason tan company,,don move

Posted by BestOne > 2023-04-07 11:16 | Report Abuse

Something brewing?

Posted by JuliusCeasar > 2023-04-07 12:13 | Report Abuse

Look like is a trap! First 20 minutes 4.5C active taken by buyers. From 9.21am and above trading become toooooo slow.

Posted by izoklse > 2023-04-07 13:02 | Report Abuse

This came after the listing of 1.03 billion shares in Reach Energy slated for SRL at 20 sen apiece, as part of the company’s debt settlement exercise to settle RM206.51 million or 76% of the debt it owes to SRL.

In a statement, Reach Energy noted that it completed the exemption of SRL and Cheung Siu Fai — SRL's sole director and owner — from their obligation to undertake a mandatory takeover offer for the company’s remaining shares.

“The completion of the proposed debt settlement also marked SRL’s entry into a shareholder loan facility agreement to make available a shareholder loan facility of up to US$5 million or RM22.87 million to the company,” it said, adding that 89.07% or RM20.37 million will be used for working capital.

emm interesting

Posted by izoklse > 2023-04-07 14:47 | Report Abuse

interesting to see how they going to push this counter.

Posted by BILLC > 2023-04-07 15:01 | Report Abuse

How to push a pn17 cap ayam counter??

Posted by KimSua > 2023-04-07 15:35 | Report Abuse

Many continues to rant KLSE never protects investors, already put it to PN17 still hot, gamblers will be gamblers, some win some will loose. You make a choice going from 0.05 to 0.07 or 0.05 to 0.03?

Posted by JuliusCeasar > 2023-04-07 15:40 | Report Abuse

Agree!

Posted by birkincollector > 2023-04-08 14:42 | Report Abuse

REACH is selling khazathan oil fields according to The Edge

Posted by izoklse > 2023-04-08 15:10 | Report Abuse

oh where you found that reading material birkincollector ? mind to share here the link.

Posted by JuliusCeasar > 2023-04-08 15:43 | Report Abuse

Great news!

Posted by izoklse > 2023-04-08 15:49 | Report Abuse

I also think they need to find other producing well so that earning and profit can be improve from time to time.

Posted by birkincollector > 2023-04-08 15:52 | Report Abuse

its on The Edge weekly frontpage published this weekend

Posted by izoklse > 2023-04-08 16:02 | Report Abuse

oh ok thank you birkincollector for the info.

Posted by JuliusCeasar > 2023-04-08 16:52 | Report Abuse

If someone got the link.... Just share it okay!

Posted by TheContrarian > 2023-04-08 20:32 | Report Abuse

Confirmed it's on front page of The Edge Weekly out tomorrow. Get a copy for RM7 tomorrow morning.

Posted by izoklse > 2023-04-08 21:08 | Report Abuse

Ok i already read the digital version of The Edge Weekly and the title is " Reach Energy to dispose of Kazakhstan oilfield "

I decided to buy this counter on Monday. Thank you highlighting this earlier.

Posted by izoklse > 2023-04-08 21:24 | Report Abuse

From the The Edge Weekly :

Sources say several suitors are keen to explore the prospect of taking over the concession, which was valued at close to USD300 Million in 2016. The concession, called the Emir-Oil LLP,spans six oilfields in an area of 847 sq kilometers.

" The suitors are keen on the asset and aware that more money had to be ploughed in to enhance production. But they feel that oil price will be able to sustain at above USD 70 per barrel and the Reach Energy concession has a low production cost,"
Says a source.

Posted by izoklse > 2023-04-08 21:29 | Report Abuse

From the Edge Weekly :

" Moreover, the current controlling shareholders of the concession, who also control Reach Energy, want to exit the exploration and production of the O & G business. They used to own and operate the oilfield until Reach Energy`s previous shareholders acquired a 60 % stake in the concession in 2016."

Posted by Orson Chin > 2023-04-08 21:30 | Report Abuse

Monday limit up !!!!!!!!!! All sell to China man…. China need oil !

Posted by izoklse > 2023-04-08 21:40 | Report Abuse

From the Edge Weekly :

According to sources, the company has since recapitalized following the conversion of the debt owning to MIEH via the issuance of new shares.

"Reach Energy slipped into PN17 status based on the unaudited results for the period ended December 2022. The debt-to-equity exercise was only completed in March this year," says a source.

If the sale of the Emir-Oil concession materialises, Reach Energy will be a cash company with no assets. However, the amount of cash in the company from the sale of the Kazakstan asset will be far from the 75 sen per share that early investors paid when it was listed as a SPAC.

Posted by izoklse > 2023-04-08 21:45 | Report Abuse

The above statement by the sources is based on the assumption, that the concession, which was valued at close to USD300 Million in 2016. But now already 2023 and the oil price at USD 80 - 86 per barrel. You can now imagined the asset value in 2023.

Posted by izoklse > 2023-04-08 22:04 | Report Abuse

That is why Super Racer Ltd (SRL) willing to take up 1.03 billion new shares at an issue price of 20 sen apiece as they know there is an interested buyer already for the kazakstan asset and upon completion of the asset sale, they can generate cash value more than 75 sen per share.

Posted by Orson Chin > 2023-04-08 22:39 | Report Abuse

Limit up Monday !!!! Goooooo

Posted by newbie_2016 > 2023-04-09 00:40 | Report Abuse

so Honkie guy not silly after all!!!! wow!!!!

Posted by JuliusCeasar > 2023-04-09 09:27 | Report Abuse

Can someone share the link!