sit tight and wait for their 27th Feb Q result announcement & further publicity from their CEO (surely there will be more !)
Looks like sth is brewing ......

Q report will be announced on 27th Feb, finger cross & stay tune for result that will EXCEED expectation or CEO give a optimistic outlook , then only share price can fly further !!

BIMB 's TP - 30ct
HLG's TP - 29ct ....
once fantastic Q result announced, most fart king stu-pick IBs will rush to up TP one by one lah !!

FART !!

latest TP from HL is 29ct but this fact king stup!d kenanga give 0.16 ct !
remember last time this fact king stup!d IB gave 8ct TP ! follow their stock call and dumped shares one would have cursed this fact king kenanga to hell loh !! lol

TP = 29ct by HLB , more and more IB will queue up to up TP soon .......

Yesterday, Velesto announced that it has secured a USD14m contract from Roc Oil (Sarawak) Sdn Bhd for the provision of jack-up drilling rig services. The contract entails drilling 3 wells – specifically procured for Velesto’s Naga 2 rig. We gather that the job is expected to commence in Feb 2023 for an estimated duration of about 4 months (or 120 days). We are positive on the job win as it will keep Velesto’s Naga 2 rig occupied until mid-June 2023 which will help boost the group’s overall blended rig utilisation rate while riding on the increasing DCRs. With this job win, we highlight that all of Velesto’s rigs are now utilised. We maintain our BUY recommendation with a higher TP of RM0.29/share – pegged to 14x of FY24f profits.

NEWSBREAK
Yesterday, Velesto announced that it has secured a USD14m contract from Roc Oil (Sarawak) Sdn Bhd for the provision of jack-up drilling rig services. The contract entails drilling 3 wells – specifically procured for Velesto’s Naga 2 rig. We gather that the job is expected to commence in Feb 2023 for an estimated duration of about 4 months (or 120 days).

HLIB’s VIEW
Positive. We are positive on the job win as it will keep Velesto’s Naga 2 rig occupied until mid-June 2023 which will help boost the group’s overall blended rig utilisation rate while riding on the increasing DCRs. With this job win, we highlight that all of Velesto’s rigs are now utilised.

Daily Charter Rates (DCR). We estimate the DCR for the job to range from USD95- 100k.

Status of rigs. All of Velesto’s rigs are currently chartered, as follows:

Naga 2 – Contracted Until 2Q2023.

Naga 3 – Contracted Until 1Q2023.

Naga 4 – contracted until 1Q2023, will undergo upgrade works after – till 2Q2023.

Naga 5 – Contracted Until Mid-2024 With This Job Win.

Naga 6 – Contracted Until 1Q2023 for Petronas Carigali.

Naga 8 – Contracted Until 1Q2024 for Carigali-Hess Operating Company.

4Q22 earnings preview. From the rig schedule mentioned above, we remain optimistic and believe that Velesto be profitable in 4Q22, in which results are slated for release on 27 Feb. We should also expect the group to be profitable in FY23 as all of its rigs are chartered until at least the end of the year.

Forecast. No changes to FY22f estimates. However, post tweaks, channel checks and discussion with the group, we raise our FY23-24f earnings forecasts by 7x and 5x respectively to account for significantly higher DCRs (USD100-110k/day) and blended utilisation rates (70-75%).

Maintain BUY; TP of RM0.29. We maintain our BUY recommendation with a higher TP of RM0.29 (from RM0.17 previously), based on 14x FY24f profits, which is in-line with the multiple ascribed to all of the OGSE providers in the sector.

Source: Hong Leong Investment Bank Research - 3 Feb 2023

this new contract is just the beginning ..... many many more lucrative contracts to be announced soon !!

very tiny sell queue !!

going to break 0.25 once open !!

In oil & gas bull market .... anything can happen until you can't believe it !!!

now can see very strong BUY queue at 0.24 !!!!

come 10am resumption... the price will surely LIMIT UP !!!!!
Huat ah !!!!!!!!!!!

During oil super bull time in 14-15, Velesto s earning per Q is easily 2-3 ct per Q, annualized to be 8-12 ct per year, give it low PE of 10, fair conservative price could be 0.80 to 1.20 !!
Of course if rig charter rates can shot back to 150,000 USD !

The company s NTA is 30ct , trading at 20ct is still very undervalue , not to mention the probable good Q result to be announced for the next coming quarters …. Be patient and hold tight !
30-40 ct is achievable or even more !!

Going to be top volume no 1 today !!

20ct surely can be reached before CNY ! After that TP 30 ct coming !!

Very strong buying support !!

In the latest The edge report, the CEO said the next 3 years Velesto will be in the cyclical growth !!

if evermix can't make RM11 mil profit then ?
No 11mil shares (20ct x 11mil = RM2.2mil only) to seller BUT they already pocketed sweet RM65 mil cash from Esceram !!!
65 mils cash accumulating from glove former business thru out the year all sai lang into concrete business (where they don't nothing about ) , so a wise investment ?? time will tell !! :(

heavy buying volume !! 18 ct all sapu habis habis in second !!!

This weekend the edge just have an interview and publicity with Velesto s boss , looks like sth is brewing ….

EPF dumping shares !!!

The group profit could be dragged down by cement busniness !! jia lat !!

diam-diam tunggu sampai TP 30c baru ketawa kuat kuat !! lol ....

volume is back !!

i think mostly retailers or short term players taking profit .....

Yes !! US is an evil empire, let's support China-Russia-North Korea-Iran 's Axis and conquer the world !!!
Zero covid policy is such a real success .... no death of human lives at all ! according to CCP
Russia will win the war by buying weapons from Iran ...
Let's construct "re-education camps" all over the world and appointed KYY to re-educate people the aforesaid facts !!

This "kampung" company can't fight with other intrenational players, i think , they can only rely on Abang Petronas, if Petronas give contract, huat lah, if not , PKM already !
So far outlook is quite good, most analysts recommend Veryslow because Abang Petronas is going to increase Drilling Rigs and HWU expenses and this is the specialty of Very-slow !


"Drilling Rigs and HWU. Petronas expects an average of 26 rigs (an increase of 30% YoY) to be chartered in 2023 (12 Jack-up rigs, 4 Tender rigs, 8 Hydraulic Workover Units, 2 semi-sub/drillships) as compared to 20 rigs (9 jack-up rigs, 3 tender rigs, 6 Hydraulic workover units, 2 semi-sub/drillships) in 2022. We highlight the clear beneficiary of this development would be Velesto Energy in our local space."

No Change to Earnings Forecast

Following this contract announcement, we estimate that Velesto has secured utilisation rate of at least 33% for FY23F. While this is still below our assumption of 75%, we believe it remainsintact. We expect Velesto to gain more market share in the near future as its sole local competitor is considering to sell its rig to foreign operator. To recap, its tenderbook currently stands at RM2.4bn which made up of 8 long term contracts (i.e., more than 12 months) and 20 short term contracts (less than 12 months).

Maintain BUY with Unchanged TP RM0.28

The stock price has recovered swiftly from its all-time low of RM0.075 following news of tighter rig market. However, we think there is still much upside even at current price level stemming from (i) recovery in utilisation rate and (ii) higher daily charter rate. As such, we maintain Velesto as a BUY with unchanged TP of RM0.28 pegged at 1x P/B to FY22F.

Source: BIMB Securities Research - 8 Nov 2022

If next year average rigs rent can shoot up to US$100K to US$150K, share price can surely shoot up to 50ct and above !!!

The average daily rent of drilling rigs under VELESTO Energy in the third quarter was US$74,000, which has remained roughly flat this year. Compared with the average rent of US$68,000 to US$70,000 from 2017 to 2021, the increase is obviously not large. It should be noted that it is driven by soaring demand , regional peers are now even getting more than $100,000 in rent. At its peak in 2014, the average daily rent for drilling rigs under VELESTO Energy was as high as US$151,000, more than double the current rent.

It is worth mentioning that in view of the abundant silver bullets of the oil giants in the Middle East, 15 drilling rigs in Southeast Asia will soon go to the Middle East to work for the world's largest oil producer Saudi Aramco, which may further tighten the supply of drilling rigs in the region and catalyze Rents continue to rise.

"Overall, the good luck that VELESTO Energy has been waiting for for many years has finally come. Under the medium-term environment of insufficient supply and strong demand, it is estimated that the company will be full of money and earn back these years of losses for at least the next two years During the golden age, the stock price traded at only 0.5 times the book value, which added to the investment charm. It is expected to once again become an oil and gas stock that has attracted much attention from the market, and its outlook is impeccable. "

Ok lah, tired running d , let it take a break .....
Next week pecut lagi >>>>>>>>>>>>>>>

next week Velestow ("very slow") will change name to Velefast ("very fast") ! lol

One day up 0.5 cts, one week up 2.5 cts, one month up 10 cts ?
Cukup kah ? Lol

Can go up 0.5 cent per day, you can laugh already loh ..... lol
sikit sikit, lama lama jadi bukit !! Velesto's style !

this counter won't fly, it will only crawl ....... ....... ...... ...... .....

Optimism is all over the market, so be ready for super bull charging all the way to Christmas ...> CNY ....> ..... then sell in May & go away !!!!!!

Whoever take over as new government, this counter won't be affected at all lah !
whatever government also need to gorek more oil to increase their revenue what ??
safe counter to invest !

This delusional old chinese rubber (after being brain washed from "re-education camp") has lost the sense to judge thing rationally ... what a pity .... sad to read all his stup1d articles nowadays ..... sob sob

"very slow" can up 0.5ct per day, you can open champagne to celebrate already loh !

https://www.techspot.com/news/96373-russia-finds-40-chinese-chip-imports-defective.html

This piece of new (by Russian media themselves) will be a big slap to those delusional chinese rubbers !
maybe that's the reason why the Russia is losing the war !

Another piece of "spiritual master bation" by a delusional old chinese rubber again & again & again ..... lol
No wonder he keeps losing millions in share market nowadays !

"very slow" style = sikit sikit lama lama jadi bukit !!
Don't look check the price now, go to do something else and come back at 31-12-2022 !
haha

If can reach TP = 0.30, die hard "very slow" supporters can be laughing all the way to the bank already !!!

https://www.theedgemarkets.com/article/heres-what-goldman-ubs-say-about-oil-after-big-opec-production-cut

almost all prominent international investment houses predicted Oil price will reach USD 100 !!

Heng ah, Ong ah, Huat ah !

CCP is good in bullshiting and this blunt Uncle Koon fell for it ......

another spiritual "master bation" by Uncle Koon ..... He is getting more and more delusional as the days go by ....

This “very-slow” is very slow ! It won’t shoot up 10 cts in one day ! Bit by bit 0.5 ct per day …. Sikit sikit lama lama jadi Bukit ! Lol
My experience with Very- slow !