REACH ENERGY BHD
KLSE (MYR): REACH (5256)
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Last Price
0.05
Today's Change
0.00 (0.00%)
Day's Change
0.05 - 0.05
Trading Volume
225,000
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9 people like this. Showing 50 of 18,505 comments
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.
2 weeks ago
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.
2 weeks ago
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...
2 weeks ago
not export quota problem，the problem is not have hight production，wish have 3000 one day，now juat 2200 only，highest record is 3300 one
2 weeks ago
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
2 weeks ago
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.
2 weeks ago
since the price stable above usd 100, they can start maximize the production back to 3000 bopd.
2 weeks ago
look like internal people knowing something rotten news will be out thats why sell fast
2 weeks ago
Fast fast down to 0.5cent!!! Then can buy in with no fear!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
2 weeks ago
what can we do? they own majority? the most I imagine could do is to tongue-lash them during AGM :)
5 days ago
We people just give the shark to eat after bigger director one time get it and bring back to eat lo
3 days ago
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melkeng888
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.
3 weeks ago