REACH ENERGY BHD
KLSE (MYR): REACH (5256)
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Last Price
0.025
Today's Change
-0.005 (16.67%)
Day's Change
0.025 - 0.025
Trading Volume
50,300
Company warrants are issued by the company and give the holders the right, but not an obligation, to subscribe for new ordinary shares at a specified price during a specified period of time.
Structured warrants are proprietary instruments issued by a third-party issuer, namely an eligible broker or financial institution that give holders the right, but not the obligation, to buy (call warrants) or sell (put warrant) the underlying instrument in the future for a fixed price.
A call warrant is in-the-money when the exercise price is lower than the price of the underlying share.
A put warrant is in-the-money when the underlying share price is lower than the exercise price.
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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
Going to fly to the moon. Anytime soon the HK shareholder will flex their muscles.
2023-09-14 19:53
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
lol.. @TheContrarian I like your building up the suspense..... like horror movies or Game of Thrones :)
2023-09-19 21:24
Russia dodges G7 price cap sanctions on most of its oil exports
https://www.ft.com/content/cad37c16-9cbd-473c-aa2f-102c21393d2e?ftcamp=traffic/partner/feed_headline/us_yahoo/auddev
2023-09-25 08:03
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?
1 month ago
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cannot REACH the sky
2023-09-14 16:00