What the use of all these news, Reach equipment is not efficient, they are not able to increase production, do you think it’s going to increase their revenue even oil traded above USD100?
2036, the concession to DIG oil expires. So have 13 years to go full swing. To do that must invest lots of money, but company and shareholders have no money. BIG rights issue coming?
Except for 2016, the company has delivered negative ROE every since despite the high crude oil prices. So will it make money when oil prices comes down?
another mismanaged O&G. Quote from NST 2023 "The company's financial situation deteriorated due to falling oil prices and the high costs of exploration and development in Kazakhstan.". Even the price of oil above which is way above USD70 also no money to be made. Kazakhstan oil concession is onshore, cost to extract is USD15 or lower. Reach Energy made the new discovery in the Emir Oil block through the drilling of the North Kariman-3, This suggests that NK-3 would be a highly productive well once we commence production. Still need exploration?
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....
twynstar
356 posts
Posted by twynstar > 2023-09-28 21:54 | Report Abuse
Russian Oil Is Trading Closer to $100 Than the G-7 Price Cap
Russia’s flagship Urals grade is trading at $85.35 a barrel from the Baltic port of Primorsk and $86 from the Black Sea port of Novorossiysk.
https://finance.yahoo.com/news/russian-oil-trading-closer-100-103001221.html