REACH ENERGY BHD

KLSE (MYR): REACH (5256)

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Last Price

0.03

Today's Change

0.00 (0.00%)

Day's Change

0.025 - 0.03

Trading Volume

10,136,700

Meeting


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Discussions
9 people like this. Showing 50 of 19,222 comments

TheContrarian

If Brent hits USD100.

2023-09-06 19:50

EngineeringProfit

Then will automatic turbo charge one

(Coming season of The Greatest Show in Bursa kah?........hehe)

2023-09-06 19:52

TheContrarian

USD90 to USD100 could happen soon.

2023-09-06 20:48

EngineeringProfit

Sooner than the return of the rubber king SUPERMAn kah?

2023-09-06 20:53

newbie_2016

@TheContrarian i read i their report that Reach is selling at way lower than market Brent price due to the Ukraine War... their oil got tagged as Russian and with sanctions from the west and no alternative routes to offload, revenue is apparently affected

2023-09-07 08:54

TheContrarian

@newbie_2016, correct, that's why earnings low but they will find a way to distinguish their oil from Russia oil. Western Europe is desperate for oil.

2023-09-07 09:07

twynstar

The G7 Has No Immediate Plans To Review Its Russian Oil Price Cap


The price of Russia’s flagship crude grade, Urals, averaged $74 per barrel in August, slightly down from August 2022, but way above the G7 price cap of $60 and higher than the July average of $64.37 a barrel, data released by the Russian Finance Ministry showed last week. Between January and August 2023, the average price of Urals was $56.58 per barrel, compared to an average of $82.13 a barrel for the same period of 2022.


https://oilprice.com/Energy/Energy-General/The-G7-Has-No-Immediate-Plans-To-Review-Its-Russian-Oil-Price-Cap.html

2023-09-07 15:40

triplex3mob

cannot REACH the sky

2023-09-14 16:00

TheContrarian

Saudi Arabia's output cuts will exacerbate tight global supplies, with the oil market expected to face its biggest deficit in over a decade.

According to Bloomberg calculations of the latest data from the Organization of Petroleum Exporting Countries, the amount of oil OPEC is pumping in the third quarter is about 1.8 million barrels per day less than what is needed to meet demand.

By the fourth quarter, that deficit is projected to widen, forcing countries to tap oil stockpiles to cover the shortfall. If OPEC production stays flat, as members have indicated, inventories will shrink by 3.3 million barrels per day, the most since at least 2007, according to Bloomberg.

2023-09-14 18:06

TheContrarian

Brent has broken through USD93.

2023-09-14 19:22

rohank71

Going to fly to the moon. Anytime soon the HK shareholder will flex their muscles.

2023-09-14 19:53

TheContrarian

Winter is coming ........

2023-09-14 20:24

TheContrarian

Brent just hit USD94.

2023-09-15 04:19

TheContrarian

Go, go, go Reach.

2023-09-15 09:19

newbie_2016

waahh so excited @TheContrarian?? hehehehe

2023-09-15 09:40

TheContrarian

Uptrend in Brent will lift up all O&G counters.

2023-09-16 13:21

BILLC

Uptrend in Brent will lift up all O&G counters

But not this cap Ayam,,,,

2023-09-16 15:16

TheContrarian

Meanwhile, Brent Crude Oil rocketed above $94.63 a barrel to hit a fresh 2023 record high. Over the last two months, the world’s most traded Oil benchmark has tallied up a stunning gain of over 49% from its 2023 lows of $63.64 a barrel.

And the rally might not stop there!

Oil prices have been in a solid uptrend since Saudi Arabia announced plans to extend its 1 million barrel per day production cut until the end of the year – joined by Russia with its own 300,000 barrel per day output cut.

These cuts are in addition to the 1.66 million barrels per day output reduction other members of OPEC have put in place until the end of 2024.

Elsewhere, catastrophic floods in Libya have forced authorities to close four key Oil ports and shutdown local refineries. A move which as boosted expectations of global supply scarcity – adding further bullish tailwinds to the current energy price boom.

Libya, produces over 1 million barrels of Oil per day and sends around 85% of its exports to Europe. If all that supply in Libya was to remain off the market for an extended period of time – there’s no doubting that could easily send Oil prices soaring well into triple-digit territory.

2023-09-17 11:00

TheContrarian

Brent just hit USD95 ..... and winter is coming.

2023-09-19 13:18

newbie_2016

lol.. @TheContrarian I like your building up the suspense..... like horror movies or Game of Thrones :)

2023-09-19 21:24

TheContrarian

Winter is coming ....... rally behind the Starks!

2023-09-19 23:35

THE ROCK

This counter need another Bullrun to be seen...lol

2023-09-22 21:07

EngineeringProfit

Next QR

2023-09-22 21:27

B4b4

Oil prices going up strongly. Almost USD 95 pb. Buy Reach and wait.

2023-09-27 11:13

arcadicus

Brent $97 now ...

2023-09-28 10:52

EngineeringProfit

Next QR

2023-09-28 11:01

twynstar

Russia Sells Urals Oil To India At $20 Above The Price Cap


Data from traders and Reuters calculations showed that free on board (FOB) Urals cargoes to load from Russia’s western ports on the Baltic Sea in October were nearly $80 a barrel for Indian refiners as of Thursday.



https://oilprice.com/Latest-Energy-News/World-News/Russia-Sells-Urals-Oil-To-India-At-20-Above-The-Price-Cap.html

2023-09-28 21:26

twynstar

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

2023-09-28 21:54

Chong3710

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?

2023-09-28 23:20

newbie_2016

and ceo resigned! haiyaaaaa.... @TheContrarian what's up with this company??

2023-09-29 23:51

arcadicus

End of contract la ...

2023-09-30 10:06

rohank71

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?

2023-09-30 10:52

EngineeringProfit

Unless this quarter can fetch over RM20 mil net profit$

2023-09-30 10:54

rohank71

No equipments to pump oil can't pump oil enought to make BIG money. No banks lend to O&G asset.

2023-09-30 10:56

rohank71

Unless BIG names.

2023-09-30 10:57

Dehcomic01

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?

2023-09-30 11:01

EngineeringProfit

That's why its price can only go up with more green QR

2023-09-30 11:16

newbie_2016

hope this Q will be green Quarter!!!

2023-10-09 11:37

EngineeringProfit

No Green, no huat

2023-10-14 10:47

B4b4

buy . SRL is in control

2023-10-16 13:38

Apastock

steady 1 more green, let shiooting star...

2023-11-16 20:00

newbie_2016

wow still got hopeful people!!

2023-11-23 11:43

arcadicus

Latest QR green wor....😁

2023-11-30 18:29

newbie_2016

hahahaha green but no 'GO' wor.... still got hopeful people tho...

2023-12-03 09:08

newbie_2016

wow somebody just dumped??

2 months ago

newbie_2016

oh the previous ceo just dumped his shares... weird guy

2 months ago

newbie_2016

@TheContrarian whats your take?

2 months ago

B4b4

Just buy and keep la. Only 3s.....the cheapest oil company in the world

3 weeks ago

MrFox

so u r saying it will remain the cheapest?
haha

3 weeks ago

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