VELESTO ENERGY BERHAD

KLSE (MYR): VELESTO (5243)

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Last Price

0.12

Today's Change

0.00 (0.00%)

Day's Change

0.115 - 0.12

Trading Volume

10,369,400

Overview

Market Cap

986 Million

NOSH

8,216 Million

Avg Volume (4 weeks)

10,232,131

4 Weeks Range

0.11 - 0.13

4 Weeks Price Volatility (%)

50.00%

52 Weeks Range

0.10 - 0.165

52 Weeks Price Volatility (%)

30.77%

Previous Close

0.12

Open

0.12

Bid

0.115 x 31,340,500

Ask

0.12 x 9,623,400

Day's Range

0.115 - 0.12

Trading Volume

10,369,400

Financial Highlight

Latest Quarter | Ann. Date

31-Mar-2022 [#1] | 25-May-2022

Next QR | Est. Ann. Date

30-Jun-2022 | 25-Aug-2022

T4Q P/E | EY

-12.88 | -7.76%

T4Q DY | Payout %

0.00% | 0.00%

T4Q NAPS | P/NAPS

0.27 | 0.44

T4Q NP Margin | ROE

-18.63% | -3.44%

Company Profile

Sector: ENERGY

Sector: ENERGY

Subsector: ENERGY INFRASTRUCTURE, EQUIPMENT & SERVICES

Subsector: ENERGY INFRASTRUCTURE, EQUIPMENT & SERVICES

Description:

Velesto Energy Berhad, previously known as UMW Oil & Gas Corp Bhd, is a multinational provider of drilling and oilfield services for the upstream sector of the oil and gas industry.


The company's line of products and services include drilling and workover services for exploration, development, and production of wells in Malaysia and southeast Asia through several offshore drilling rigs and hydraulic workover units. 

Under the oilfield services segment, the company offers threading, inspection, and repair services for Oil Country Tubular Goods in various offshore markets.

Operating revenue is primarily derived from drilling services, which includes ownership and operation of several drilling rigs and hydraulic workover units, or HWUs. Rigs and HWUs are chartered through day-rate-based contracts.

Discussions
25 people like this. Showing 50 of 20,820 comments

Bon888

@Macgyver11 where you get the 80% utilization data?

1 month ago

nasrulfahmi

very good

3 weeks ago

Harryww

Buy now otherwise missed the golden chance. 30 coming when the q result.

3 weeks ago

hoot9e996

about time it fly....

3 weeks ago

nasrulfahmi

very good

3 weeks ago

Macgyver11

Buy buy buy don't miss the boat. Very good consecutive qtr coming soon.

3 weeks ago

Expertise

This time for sure 30cts

3 weeks ago

Bon888

Hari Raya Green Packet kecil, 2 cents

3 weeks ago

Warren_Buffett88

no regret if buy now and keep until next year....

3 weeks ago

Macgyver11

Annual report - balance order book as at march 2022 is 661mil

3 weeks ago

Macgyver11

Daily rig rate last year usd68k/d this year might be different or perhaps more higher in conjunction with higher crude oil price...

3 weeks ago

Macgyver11

No need to wait until next year before next year we can harvest ready if this company can generate good profit and increase rigs utilisation.

3 weeks ago

Macgyver11

Higher oil price here to stay longer no doubt that velesto can pare down their debt efficiently.

3 weeks ago

CHLEONG888

0.30 coming, why not 3.00 is more realistic

3 weeks ago

bullmarket1628

Walaoeh, oil price spike up Like mad!
Brent closed at=> $110.14 +5.17 +4.93%

Like that today Velesto going to limit up already liao lah !
Heng ah, Ong ah, Huat ah !

3 weeks ago

bullmarket1628

Oil price jumps US$5 a barrel as EU nears ban on Russian oil
Thursday, 05 May 2022 7:13 AM MYT

https://www.thestar.com.my/business/business-news/2022/05/05/oil-price...

NEW YORK: Oil prices jumped on Wednesday, as the European Union, the world's largest trading bloc, spelled out plans to phase out imports of Russian oil, raising concerns about further market tightness as those nations hunt for adequate supply.
Crude benchmarks have risen steadily over the past two months following Moscow's invasion of Ukraine. Until now, the European Union has been reluctant to fully cut off imports of Russian oil and gas, and its plans still do not suggest a full ban for all EU members.
Europe imports some 3.5 million barrels of Russian oil and oil products daily, and also depends on Moscow's gas supplies.
"Inventories are so tight, so against this backdrop, when you're talking about this ban, there are a lot of questions on how (Europe) is going to make up for this," said Phil Flynn, senior analyst at Price Futures Group.
Brent crude LCOc1 futures settled up $5.17, or 4.9%, to $110.14 a barrel. West Texas Intermediate crude CLc1 futures settled at $107.81 a barrel, up $5.40, or 5.3%.
European Commission President Ursula von der Leyen on Wednesday proposed a phased oil embargo on Russia, as well as sanctioning Russia's top bank.
The Commission's measures include phasing out supplies of Russian crude within six months and refined products by the end of 2022, von der Leyen said. She also pledged to minimise the impact of the move on European economies.

Hungary and Slovakia, however, will be able to continue buying Russian crude oil until the end of 2023 under existing contracts, an EU source told Reuters.
Russia could offset the loss of one of its primary customers by selling oil to other importers including India and China. Neither country has stopped buying from Moscow.
Needs for much greater supplies are not likely to be met at a meeting on Thursday of the Organization of Petroleum Exporting Countries and allied producers. OPEC+ is expected to stick to its plan for a gradual ramp-up of monthly production.
In the United States, crude stocks rose modestly last week, according to the U.S. Energy Information Administration. Stocks were up 1.2 million barrels as the United States released more barrels from its strategic reserves.
Fuel stocks fell, in part due to stronger exports of products since Russia's invasion as buyers have sought other sources. EIA/S
The markets largely shook off the Federal Reserve's announcement that it would raise interest rates by a half percentage point to try to bring down rising inflation.
"The market was up so strong before the announcement I think (the Fed) was a foregone conclusion," said Gary Cunningham, director of market research at Tradition Energy.- Reuters

3 weeks ago

bullmarket1628

Walaoeh, super damn hot man Velesto today !
Now Velesto already traded at=>
0.13 +0.01 +8.3%

Heng ah, Ong ah, Huat ah !

3 weeks ago

EAGLE

Mari mari angpau raya

3 weeks ago

nasrulfahmi

very good

3 weeks ago

Bon888

Thank you very much for thus who sold me Velesto at 0.105.

3 weeks ago

Macgyver11

Tunggu punya tunggu rambut pun sdh beruban...kiki

1 week ago

Legend

Oil slips more than 2% on fears recession may hit demand.
LONDON (Reuters) -Oil prices dropped more than 2% on Thursday in a volatile week as recession fears dogged global financial markets, outweighing supply concerns and geopolitical tensions in Europe.

1 week ago

Expertise

Will be very good Q1

1 week ago

Macgyver11

Yeah! Q1 is around the corner. 2 more weeks to go. Expected good one.

1 week ago

Harryww

Buy now and keep until next q.. 0.30 is within reach.

1 week ago

BigZakar

tp Rm1 before merdeka!!!!!!!!!!!!!

1 week ago

Expertise

Last chance to grab it,boarding soon to 30cts

1 week ago

bullmarket1628

I think now O & G counters start booming is because the election is coming soon, market has to be hot hot only people can vote them to Win...

For those party whom can make market spike up like as 1990-1997 crazy hot stock market period, I will vote he/she Win !

Heng ah, Ong ah, Huat ah !

1 week ago

EAGLE

Haaaa Lai Lai lai....siapa lambat rugi

1 week ago

colin888

What is wrong with this stock! Even Sapura is now 7 cents! Serba is now higher ! Wtf

1 week ago

kyliew

Cash is king, switch to Sapura

1 week ago

colin888

Hopeless stock! I have invested 130k and it’s still bleeding.

1 week ago

Expertise

Cash is king..oil theme this cycle till election …hohoho

1 week ago

CHLEONG888

A bit disappointed, merely increased half a sen

1 week ago

Skywalker00

Najib got say included Volesto he will help. Hooray!!!

1 week ago

kahfui1221

出席先前分析汇报会得知,自升式(JU)钻井平台工作的时间表后,我们估计Velesto能源末季钻井平均使用率为77%,比先前预测的70%高,因为进行中钻井工作时间,应该会比预期来得长。

尽管当季有可能录得盈利,但我们出于谨慎考量,没有将末季财测改为盈利,因为该公司存有难以预测且持久的营运成本压力。

若钻井工作因确诊员工而拖累,成本会变得非常高昂,因为船员薪水持续累积,且人手短缺意味现有钻井船员需延长逗留时间,就必须给出补偿。

由于无法招募外国船员,该公司本地其他钻井平台经理不得加大工时,提高工资以弥补离职者工作空缺。

因此,我们预料防疫成本与薪金调账,会在明后财年持续带来压力。

不过,我们相信下财年钻井使用率可达70%,故维持财测、“守住”评级和14仙目标价。

1 week ago

NoobRookie

come on velesto!!!

5 days ago

DickyMe

Post removed.Why?

5 days ago

Eric Lim

Two joint operating companies in Vietnam have secured a jack-up drilling rig for their planned offshore development wells this year in the Cuu Long basin.

The Hoang Long joint operating company is the operator of the Te Giac Trang oilfield in Block 16-1 while the Hoan Vu joint operating company is the operator of the Ca Ngu Vang oilfield in Block 9-2.


Vietnam: Eni back in the offshore drilling groove in Ken Bau area
Read more
At Te Giac Trang, the joint owners plan to drill two new production wells in the second half this year, and at Ca Ngu Vang the plan is to drill one new well in the same timeframe, said co-owner in both fields Pharos Energy.

A letter of award has been signed with Malaysia's Velesto Energy for the drilling rig Naga-3 for a firm two wells, with an option for a third well.

4 days ago

bullmarket1628

Report: MoF Inc eyeing financial support for Sapura Energy 
Saturday, 21 May 2022 7:20 PM MYT
By John Bunyan

https://www.malaymail.com/amp/news/malaysia/2022/05/21/report-mof-inc-...

KUALA LUMPUR, May 21 — The Minister of Finance (Incorporated) MoF Inc may provide financial assistance to ailing oil-and-gas giant Sapura Energy Bhd, according to sources.

Sources familiar with developments at the wholly-owned Finance Ministry unit told The Edge that the intervention would be made under MoF (Inc) Act, which empowered the finance minister to enter into business transactions for social and strategic purposes.

"From what I know it is MoF Inc that will step up (lend a helping hand to Sapura Energy. What is discussed at present is some sort of assistance package...it could be a grant of some sort and it could be announced soon," one source was quoted as saying in the latest edition of The Edge.

It also said Finance Minister Tengku Datuk Seri Zafrul Aziz has been working on the proposal for several weeks......

4 days ago

bullmarket1628

财经新闻
财政部机构出手救沙布拉能源?
2022年05月21日
https://www.enanyang.my/财经新闻/财政部机构出手救沙布拉能源

(吉隆坡21日讯)财政部机构将出手救助陷入财困的沙布拉能源(SAPNRG,5218,主板能源股)?
财经周刊《The Edge》引述消息人士透露,政府如今打算透过直接隶属于财政部的财政部机构(MoF Inc),援助这家深陷困境的油气服务供应商。

“据我所知,站出来的将是财政部机构。目前正在讨论的是某些援助方案……可能是某种形式的赠款,预料很快会宣布。”

报道也指出,财政部长东姑扎夫鲁早在数周前,就着手拯救沙布拉能源的计划,但政府透过哪家官联机构出手却一直是个疑问。
财政部机构是在1957年财政部机构法令下设立的官联机构,主要目的是投资在私人界缺乏兴趣的社会服务领域。

国家石油(Petronas)、国库控股(Khazanah),以及一马发展公司和负责拯救朝圣基金局的Urusharta Jamaah私人有限公司等,都隶属于财政部机构。
前首相拿督斯里纳吉建议由国家石油出手相救,但市场观察员认为,作为沙布拉能源的客户,国油收购其承包商并非好主意。
而沙布拉能源的最大股东国民投资机构(PNB),在重压下料也不敢贸然伸出援手。

2018年沙布拉能源发行附加股筹资40亿令吉时,国民投资机构豪掷接近27亿令吉,购入大量未被认购的附加股,让手中持股从原本的12.6%,大增至接近40%。
然而,这笔无法为单位基金持有人带来收益的投资,已经引发投资者的不满。
曾经是全球第二大油气服务供应商的沙布拉能源,1月杪的短期债务已经飙高至106.6亿令吉,其严峻的财务危机,已经引发政商界的高度关注。

4 days ago

SinGor

as usual Velesto announce Contract( vietnam ) before Qr results.....so announcement comes next week
and ends with Qr results. No idea Qr outcome but if SAP goes Limit Up, it will pull Velesto Up too

3 days ago

Macgyver11

Qtr Loss 46mil...

22 hours ago

Harryww

Most related oil and gas counters goes up, but velesto is different, going south. Too many goyang kaki. No hope counter. Tomorrow limit down.

22 hours ago

Macgyver11

PNB owned companies all same...adoi!

21 hours ago

Macgyver11

Hibiscus make 300mil
Armada 186mil

Velesto...Nothing to say, speechless

BOD tido....

21 hours ago

Macgyver11

To contra back the qtr loss maybe 2morrow they will announcement new contract, as usual...hahaha!

21 hours ago

Macgyver11

KUALA LUMPUR (May 25): Velesto Energy Bhd posted a lower net loss of RM46.2 million in the first quarter ended March 31, 2022 (1QFY22), compared with a net loss of RM60.47 million a year earlier, on the back of higher revenue.

Quarterly revenue climbed 76.22% to RM77.41 million from RM43.93 million, mainly due to higher activities in the drilling segment, where the segment’s revenue jumped 82% year-on-year to RM74.19 million on higher average jack-up rig utilisations during the quarter.

“As a result of the above, the drilling services segment registered a lower loss before tax of RM36 million as compared to RM48.9 million loss before tax reported in the corresponding quarter,” the group explained in its filing with Bursa Malaysia.

On prospects, Velesto said recovery in the global oil and gas industry outlook augurs well for the company. It said although the outlook is expected to improve, nevertheless, it may take time to be reflected in the group’s financial performance.

“Currently, three of the group’s six available jack-up drilling rigs are working, while another three are undergoing upgrading works and being prepared to meet the requirement of our potential clients for contracts that we are tendering for.

“The group is actively bidding for new tenders for local and international contracts scheduled to be performed this year and next year,” the group said in a statement accompanying the financial results announcement.

Meanwhile, the prospect for the workover services segment is improving with a number of jobs secured. Velesto said it has received work orders for three of its four Hydraulic Workover Units for the scope of Workover and Plug and Abandonment activities, through provision of integrated well services.

“The positive threading industry outlook is also expected to benefit the oilfield services operation in China.

“[Overall,] the board remains cautiously optimistic on the financial performance of the group in 2022, barring any unforeseen circumstances,” it added.

Velesto shares were unchanged at 12 sen on Wednesday (May 25), giving the group a market capitalisation of RM985.87 million.

19 hours ago

Lewis Lee

This is a PKM punya company lah !!!!!!! :(

6 hours ago

koyokui

Buy velesto will benefit from saprng bailout

1 hour ago

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