Macgyver111

Seems like investors start to dump after the dividend payment..😀😃

1 week ago

Tigerchan

Have you get the dividend,

1 week ago

Six6thsense

I love ghost story. Time to watch this stock

1 week ago

RJ87

Heavily manipulated. I think they already factored retailers psychology.

When uptrend, retailers can’t resist and buy high. When downtrend, retailer can’t hold and sell low.

If no one is buying, there won’t be 230mil shares transacted.

1 week ago

Six6thsense

Exited at the top. And now finding bottom to enter again

1 week ago

SinGor

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3504757
________________________________

For the First Time Velesto TOLD Petronas we are Not interested in your Contract if you keep paying Peanut.
Management should told Petronas one year Ago and spare me the agony of screaming Poor Management
( boot Licker )

1 week ago

Vicky

Oil can never be good when Trump assume office next year 2025. According to Trump he will give more licence out to more US oil companies to drill more oil as to reduce the inflation. Meaning there will be always surplus of oil in the market. OPEC will be in vain to fight for higher oil price as oversupplies as a result. Cease fire in Lebanon and coming to Ukraine and Gaza will flooded the oil market thus oil price will be heavily down. Be ready to exit while you can.

1 week ago

SinGor

Let see what Bankers said on Monday ( manipulators cousin )---When price movement becoming stale, they
will shake all the monkeys off the Tree

1 week ago

SinGor

Most of Texas Oil are "sweet oil " Good for China Industries where pollution regulation are very Tight-----
Guess what China is going to impose 60% + 10% import Traffic on Texas Oil in 2025

1 week ago

RJ87

Macam nothing to do with Petronas also.
3.2 Information on Carigali Hess

Carigali Hess is a joint venture Oil and Gas company between PC JDA Limited, Hess Oil Company of Thailand Ltd. Co. and Hess Oil Company of Thailand (JDA) Ltd. Carigali Hess based in Kuala Lumpur, is engaged in gas production in Block A-18 of the Joint Development Area administered by the Malaysian-Thailand Joint Authority (MTJA).

___________________________________

For the First Time Velesto TOLD Petronas we are Not interested in your Contract if you keep paying Peanut.
Management should told Petronas one year Ago and spare me the agony of screaming Poor Management
( boot Licker )

1 week ago

SinGor

First you negotiate DayRate before you move Rig to another position---Velesto wants Higher Rate bcos
Indonesia is asking for bidding on new Drillings ( even India and Bangla are asking for Drilling Bid )

1 week ago

Macgyver111

Think Velesto can weathered Trump's agenda: "Drill, baby, drill.". That is the main reason they implemented an onboard robotic system. Extract more oil with as low a cost as possible; even they can be profitable at the breakeven-point. 

Oil prices in the global market
The average break-even price for tight oil has been falling, reaching an average of $44 per barrel. The average break-even price for onshore Middle East production is around $30 per barrel, while the average break-even price for offshore deepwater production is around $43 per barrel. 

1 week ago

RJ87

Quick Look on the book looks good.
PnL Statement - 09/24 - 09/23 RM'000
Revenue - RM 1,084,370 - RM 855,803
Finance Cost - RM29436 - RM34393 (Decrease RM5mil)
Profit After tax - RM152549 - RM32841 (Increase RM119m)

Balance Sheet
Inventories - RM112,765 - RM178709
Receivables - RM402739 - RM363490 (increased RM39mil)
Cash - RM198822 - RM132215 (increased RM67mil)
Current Asset - RM716770 - RM676299 (increase RM40mil)

Trade Payables - RM311578 - RM260202 (increased RM51mil)
Short Term Loan - RM62320 - RM114288 (decreased RM51mil)
Current Liabilities - RM397362 - RM384525 (no much)
Long term - RM161417 - RM244326 (decreased RM83mil)
Total Liabilities - RM561251 - RM632237 (decreased RM71mil)

Cash Flow
Depreciation and Amortization - RM188,330 - RM147672
Operating Profit RM412020 - RM223115 (increased RM188mil)
Cash Generated RM378864 - RM280344 (increased RM98mil)

Investing Cash RM147323 - RM107273 (increased RM40mil)

Repayment RM105120 - RM151372
Dividend 20539

The way I read the report, If Velesto use their RM192M cash pays off RM161M long term debt; All the nagas are free. And RM1,084,370,000 revenue, operating expenses RM866826 - RM 188,330, Cash generated is RM405m for every RM1b orderbook. By end Q4,2025, We should see at least RM600m in cash and free 6 nagas.

1 week ago

RJ87

Naga 2, 4, 6 recently completed SPS - contracted until Q1, 2026.
Naga 3 recently completed SPS - contracted until Nov,24. Not sure if there will be extension
Naga 5 Undergoing SPS
Naga 8 contract until Feb 2025 instead of Oct,25. Finish work early. (Can start SPS early)

Naga 2,3,4,6,8 generating revenue for Q4,24. Naga 2,4,6,8 for Q1,25. And Naga 2,4,6 for Q2,25
So look out for announcement for Q1,25 for Naga 3-5 tender and Q2,25 for Naga 8.

If got easily another RM1B revenue. Then we can expect to see 600-800mil in cash by end of Q4,25.

1 week ago

Macgyver111

All depend on oil price. Trump taking over the White House in January 2025. Hopefully, OPEC+ will maintain the oil price in the 65 to 70 range. 

1 week ago

SinGor

https://oilprice.com/Energy/Crude-Oil/Exxon-Pours-Cold-Water-On-Trumps-Drill-Baby-Drill-Plans.htmlhttps://oilprice.com/Energy/Crude-Oil/Exxon-Pours-Cold-Water-On-Trumps-Drill-Baby-Drill-Plans.html

1 week ago

RJ87

during trump administration 2016-2020. Oil price went up.
Plus, I don’t think trump allows oil price to come down and kill their oilfield in US.
Their per barrel price is not cheap to drill. For his donors sake, he has to make OPEC+ to keep the price up by capping production (which is bad for velesto) Now, the concern is if OPEC+ wanna bankrupt ONG by dropping the price again.

https://www.macrotrends.net/2480/brent-crude-oil-prices-10-year-daily-chart

1 week ago

RJ87

Such a double edge sword for oil. Increase production, and increase exploration(good for velesto) but reduce oil price (bad for velesto.)

1 week ago

hzboi

this company honestly break my heart. Result is 30 times better but stock price go down. Only velesto

6 days ago

speakup

It's called Sell On Good News

6 days ago

Macgyver111

All because of an ongoing dispute between Petronas and the Sarawak government for sole discretion of gas. Investors and institutions are skeptical about the future of Petronas; it will affect the Petronas revenue if Sarawak wins the court case. There are two different types of ordinance: Petronas follows the Petroleum Development Act, which was amended in 1974, while Sarawak refers to the All Mining Ordinance (OMO), which was established in 1954. The worst nightmare for the federal government is that they worry other states like Sabah, Kelantan, and Terengganu might follow Sarawak's footsteps. What do you all think? Who will win?

6 days ago

prudentinvestor

No reason why its share price should drop to this level. Time is ripe for a sharp rebound.

6 days ago

Macgyver111

I assumed this dispute was not between Petronas and Sarawak; it is between the federal power vs state power. Various analyses said that Malaysia could go bankrupt if Sarawak wins. We are affected as well, especially those who are contributing to EPF. EPF and Amanah are the biggest shareholders; moreover, 20% to 30% of federal government revenue comes from Petronas. 

6 days ago

Macgyver111

Expected to see a massive rally only if Petronas wins the dispute. Institutional will rush in buying O&G counters, especially Petronas, and Velesto is not left behind.

6 days ago

RJ87

stop blocking at 0.165 and close 0.17 today

5 days ago

RJ87

give shorties a short squeeze and can close 0.175 today.

5 days ago

RJ87

One A-hole real pro.
Sell 100 shares at 0.155 at 12:29:59 just to make sure morning session closed red.

5 days ago

Balian de Ibelin

China already agreed to stop buying from Iran after Trump takes office.
The penalty for non-compliance is all China businesses to be kicked out from US, no license will be issued
=> Oil price expected to go up.

5 days ago

DJThong

Macgyver
You are talking rot. The gas aggregator role does not impact the upstream psc. It is not touched .

4 days ago

RJ87

Velesto price kena pummelled like it lost all it's contract.

4 days ago

paperhand123

maybe TA and Kenanga panic selling hahaha

3 days ago

leoleo86

Now the hot money is flowing out of Velesto after the latest QR. Oil prices are likely to fall after Trump takes over. Lowering oil prices is one way Trump says he can control the inflation. In an October 18 speech in Detroit, he pledged to "cut energy prices in half within 12 months" of taking office, emphasizing a commitment to "frack, frack, frack and drill, baby, drill." Likely, some of US O&G companies will be benefited from this target. But not Malaysia O&G stocks. Sad.

3 days ago

Macgyver111

Here is a quick recap (Edge market interview Velesto CEO). 

1. Velesto sent Naga 5 for 55 days of a major maintenance program in Singapore. Naga 5 just returned back from 2 years of integrated drilling work for Hess Carigali, which was completed earlier than the actual assigned date (👏👏👏). Naga 5 will be assigned to a new project in mid-January 2025 onwards, as the group is in the final stage of securing a 2-year new contract. (expected new contract announcement soon). Naga 5 is free from any major maintenance work for another 5 years once this SPS is completed. 

2. For now, three of its jack-up rigs are under contracts that will run until February 2026. Of the remaining three, Naga 3 and Naga 8 are bidding for jobs from late 2025 onwards, as the two rigs are scheduled for dry docking in the first half of next year. The maintenance process, dubbed special periodical survey (SPS), will take about two to three months before the rig can resume operations. That means Naga 3 and 8 are out of a job from Jan to March. With two SPS to be conducted next year, Megat explains that each SPS capex amounts to between US$10 million (RM45 million) and US$20 million. And the capex would eat into Velesto’s earnings in FY2025. On top of that, there will be a vacuum in earnings when two rigs are dry-docking at the yard. 

3. Velesto has upgraded Naga 5 and Naga 6 to allow them to conduct multiple scopes of activities simultaneously, thus reducing charter days for clients. Naga 6 will also be installed with a robotic arm by 1Q2025, which automates some of the pipe installation process. The company is already exploring autonomous drilling.

4. CEO Megat Zariman said that Velesto is also looking at partnerships to expand into other rig-related projects such as decommissioning that will be a new revenue stream for the company.

5. The group is keeping a close watch on the upcoming Petronas Activity Outlook, which had previously indicated that up to 13 rigs would be required in 2026.

6. The average DCR in 2014 was high at US$151,000, against around US$115,000 currently. 

7. The past two industry downturns dragged Velesto, which was known as UMW Oil & Gas Corp Bhd then, into severe financial stress, mainly because its new rigs were unable to secure enough chartered contracts. Megat certainly does not want history to repeat itself by not expanding fleet size aggressively and reducing dependency on local contracts. At least the CEO is aware of the importance of securing a long-term contract and not solely depending on PETRONAS 👏👏👏👏.

3 days ago

Macgyver111

DJThong, this is your answer. Normally I don't reply to silly, brainless questions because I don't like debating or arguing... it's a waste of my time. 

When asked whether the dynamics between Petronas and the states of Sabah and Sarawak could further weigh on market outlook, Megat says, “A lot of statements are being made, but at the end of the day it is about the capex that will be rolled out in the next three years. Worried PETRONAS will reduce the capital expenditure for upstream. As for now, Velesto still relies on PETRONAS contracts. 

3 days ago

SinGor

Petronas Hess dumped Velesto bid of 150K DayRate and Guess what Petronas hire a Singapore Jack-up
rig a few Days after dumping Velesto for Sarawak job in 2025 ---I think Petronas is paying $150K dayrate
for Singapore Rig ( current market price )---Velesto has to mine contract outside Petronas Control

3 days ago

mavisdrac

Macgyver111

so should i buy now or not.

2 days ago

Macgyver111

mavisdrac

Macgyver111

so should i buy now or not.

Sorry, Mavisdrac, nobody dares to say that. Even all IB previously said TP 0.30 but now change topic. The stock market is unpredictable. We can give you some rough ideas; the rest depends on you. Trade wisely. Do your own research before buying and selling. 

2 days ago

Macgyver111

Mavisdrac, the below article might give you some clue either to buy or not. Happy trading.


https://www.thestar.com.my/business/business-news/2024/12/04/correction-in-og-counters-presents-buying-opportunity

2 days ago

YieldSeeker

It's a buying opportunity according to BIMB Securities Research 😁

2 days ago

Nourchar

I see this counter falling to next support 0.13 , am not saying this definite but thats what i think

2 days ago

Genovese

If Velesto able to secure regional contract like Thailand and Vietnam, the IB will change their story.

2 days ago

RJ87

Important thing is naga 5 get contract in Jan, naga 3 get contract in mac and naga 8 on June.

1 day ago

Genovese

Huge volume coming in. Hahahaha PNB playing this kind of tricks, press down and push it up.

Follow the wave and enjoy the ride!!

1 day ago

Macgyver111

Hopefully.

1 day ago

mikeann

https://klse.i3investor.com/web/pricetarget/research/73781

1 day ago

Macgyver111

I think TA is one of the lousy research centers. They did not fully digest the true story. Naga 8 was not suspended due to Velesto client cancelling the order. Actual Naga 8 completed drilling work in advance, or, in a simple form of words, we can say they completed it before the actual due/agreement date. The contract for Naga 8 was issued on 1st November 2023, and the commencing date is on 19 April 2024 until 18 October 2025 (1 year 6 months), but the Naga 8 crew completed the extraction work within 8 months. That means they are already 11 months ahead. This will give an opportunity to send Naga 8 for a special SPS survey. The contract amount is USD 74 million. They will receive the same amount even if they drag it until 18 October 2025...which is better, to complete the job quickly with efficiency and receive the full payment or drag the drilling job slowly, whereby it will swallow their operation cost?

I don't know how TA does the analysis... shop lot IB.

1 day ago

Genovese

Macgyver you got lock profit when Velesto reached 0.30?

1 day ago

Macgyver111

Yes. Then buy again.

1 day ago

Genovese

Great 👍 panlai!

1 day ago

Macgyver111

Morgan Stanley Raises Brent Oil Forecast for Late 2025 After OPEC+ Move https://oilprice.com/Energy/Energy-General/Morgan-Stanley-Raises-Brent-Oil-Forecast-for-Late-2025-After-OPEC-Move.html

13 hours ago