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
1,227,800
Exchange: Bursa Malaysia Bursa Malaysia
Country Code: MY MY
Currency: MYR MYR
Sector: ENERGY ENERGY
Subsector: OIL & GAS PRODUCERS OIL & GAS PRODUCERS
Category: ORDINARY SHARE ORDINARY SHARE
Syariah Flag: Yes Yes
Short Sell Flag: Yes Yes
IDSS Flag: No No
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
No.1, Jalan Dutamas 1 D3-5-8, Block D3, Kuala Lumpur, 50480, Malaysia
+60364123000
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
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
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
and ceo resigned! haiyaaaaa.... @TheContrarian what's up with this company??
2023-09-29 23:51
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
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
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
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?
2024-03-13 18:10
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 month ago
my former boss was the former CEO of the company before the Chinese investor took over. Unfortunately, the oil fields and investments are situated in one of the most corrupted (but developing) region of the world.... if you dont pay pay pay your way business will stop.... or if you pay wrong ppl even worse. Today their partner in this land locked nation is the government, and same time they are also suing the same government for claim of unpaid taxes..... haish until when this continuous bleeding will go on..... :-) peace & happy hunting
2 weeks ago
aiyooo.. auditor didn't find that ka? i understand the clean auditors report issued ma..
2 weeks ago
@raymondroy I wonder your former boss who was the former CEO of the company before the Chinese investor took over didn't do due diligence before buying?
2 weeks ago
So, what is the take on this stock ? Caught my attention recently. Near all time high, I notice.
I guess using chinese management to improve project in Kazakhstan is not always working out. Still lossess are adding up.
What is the case to buy it ?
6 days ago
The Chinese owns the Kazakhstan oil concession directly 40% while Reach Energy owns the balance 60%. The oil is plentiful there but the problem is extracting the oil. Huge impairment has already been made to write down the cost of plant and equipment. Now we need to wait for the turnaround or disposal of the whole concession.
6 days ago
I looked up contrarian and went to Insas forum where he hangs out. I asked him there about this counter. Good to have opinion of those who observed the stock for a while. I am grateful that he came here. I removed my comment there to avoid spamming wrong company. And we have his insight.
6 days ago
B4b4
Oil prices going up strongly. Almost USD 95 pb. Buy Reach and wait.
2023-09-27 11:13