REACH ENERGY BHD

KLSE (MYR): REACH (5256)

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Last Price

0.025

Today's Change

0.00 (0.00%)

Day's Change

0.025 - 0.03

Trading Volume

424,200

Overview

Market Cap

53 Million

NOSH

2,129 Million

Avg Volume (4 weeks)

422,895

4 Weeks Range

0.025 - 0.03

4 Weeks Price Volatility (%)

0.00%

52 Weeks Range

0.025 - 0.055

52 Weeks Price Volatility (%)

0.00%

Previous Close

0.025

Open

0.025

Bid

0.025 x 31,804,400

Ask

0.03 x 21,902,600

Day's Range

0.025 - 0.03

Trading Volume

424,200

Financial Highlight

Latest Quarter | Ann. Date

31-Dec-2023 [#4] | 29-Feb-2024

Next QR | Est. Ann. Date

31-Mar-2024 | 25-May-2024

T4Q P/E | EY

-0.27 | -369.84%

T4Q DY | Payout %

0.00% | 0.00%

T4Q NAPS | P/NAPS

0.09 | 0.28

T4Q NP Margin | ROE

-165.32% | -102.73%

Market Buzz
Company Profile

Sector: ENERGY

Sector: ENERGY

Subsector: OIL & GAS PRODUCERS

Subsector: OIL & GAS PRODUCERS

Description:

Reach Energy Berhad, formerly Reach Energy Sdn Bhd, is a special purpose acquisition company for oil and gas exploration and production. The Company is focused on developing upstream hydrocarbon resources in the Asia Pacific Region. The Company intends to acquire qualifying assets related to the exploration and production of oil and gas development and production activities in the petroleum industry (Qualifying Acquisition). It evaluated over 40 Qualifying Acquisition targets spanning approximately five countries within its region of interest. The Company is targeting oil and/or gas brownfields in the production phase, and fields in the proximity of existing producing areas that are either in development phase or in advanced stages of development planning that is with Field Development Plan (FDP) in progress or approved but where production has not commenced. It intends to focus on countries, such as Malaysia, Indonesia, Australia, Myanmar, Thailand, the Philippines and Vietnam

Discussions
9 people like this. Showing 50 of 19,228 comments

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??

2023-12-04 13:44

newbie_2016

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

2023-12-06 14:29

newbie_2016

@TheContrarian whats your take?

2023-12-06 14:29

B4b4

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

2024-02-07 09:53

MrFox

so u r saying it will remain the cheapest?
haha

2024-02-07 09:55

triplex3mob

cannot REACH the sky....

2 months ago

modestos

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?

2 months ago

bizbro

hahahaha nice one, REACHing to the bottom

2 months ago

B4b4

Brent oil prices going up and up ie USD 88 pb.

1 month ago

B4b4

Reach ......going cheap....only 3s

1 month ago

B4b4

Brent now above 90 pb

1 month ago

newbie_2016

waaaaaahhh B4b4 you promoter Reach ka?? ;)

1 month ago

B4b4

Reach has got plenty of oil reserves P1 worth RM 3.3 b

1 month ago

Orson Chin

Look likes hk boss not going to rebuilt this company

1 month ago

B4b4

Hk boss bought over more assets from MIEH

1 month ago

bizbro

rebuilt what, waste money lah

4 weeks ago

rohank71

it will be PN17 or PN16 soon. better just walk away.

2 weeks ago

modestos

no matter how fancy the news or juicy opportunity. the opportunity does sums up with years of losses incur even with the seductive oil prices. what went wrong and where went wrong. be sober

1 week ago

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