https://oilprice.com/Energy/Energy-General/Armed-Men-Storm-Libyas-National-Oil-Corporation-HQ-In-Tripoli.html

Emir-Oil is of very high quality. It has very low sulfur content.

Sumatec is laden with litigations

Don't worry so much about that , sir. The brent oil price keep on increasing. Thanks to a robust global demand. Just be patient. Reach is only for long term investors.

No need to check with Bank of America , sir . Now can even trade oil using Yuan currency as what is happening already .

Backwardation is back, meaning oil supply is tight. The price of Brent from Oct 18 till Mid 2019 is higher by USD 2.20 pb than the current price. Traders are willing to pay more now, hence oil storing will get much lesser. Oil rig count has stagnate and the looming Iran sanctions will further aggravate the supply. Coupled with increasing global oil demand, oil price can only go up.

As the brent oil price is 70-80 pb, and the oil wells are at peak performance with new technologies to pump out the oil and a new oil terminal at Ansagan to transport oil out to its customers, then the stage is now set for a new beginning for Reach to move on to the next level upwards.

PP is not in the plan. However, RI is most likely said the CEO Shahul to raise RM 180 M although there is no hurry to do so now. The most immediate plan now is to increase production to 12,000 bpd in the 3Q 2019.

Pump up more oil and sell is the best way to repay MIEH since the Brent price is now excellent (USD 70-80pb). Anyway, there is no fixed repayment period, only have to pay interest of 5-14%

SAPURA debts and Reach debts are different, sir. 1. Sapura is bank borrowings, Reach is owing to MIE Holdings, 2. Sapura debts is enormous ie RM 15 B, Reach owing to MIEH is only RM 180 M, 3. Sapura got a cash call from the bank whereas Reach is given time to repay back.

Sorry VFTRADER, I do not know how to read Chinese.

https://www.cnbc.com/2018/09/08/a-major-supply-demand-imbalance-coming-for-oil-could-spike-prices.html

Good report from The Star news

Cost of production only 6.37 pb. However, does not include transportation cost. Now the Reach oil is transfered to a new oil terminal in Ansagan by pipeline which is much cheaper than by shipment beginning June.

As of 1st June, production is 3200 bpd, then increased gradually to 5400 bopd by 1st November this year. Cost of production is 6.37 pb. Forex now 4.15. Hence revenue will hit RM 100 M this coming qtr

Hi newbie_2016, long time no see. We were good at Hibi in 2016. Hope you are here at Reach too. Let's enjoy together. My target 2020, maybe even faster because now the oil price is excellent. In 2016, the Brent oil was only USD 48 pb.

Relax and enjoy, let our investments grow. Look at long term, just like Hibi from 2016 (19.5s) to 2018 (99s)

Bursa 4 days holiday.....so let us all relax and enjoy

In about 11 months time, Reach Energy will complete the CPF which can handle up to 12,000 bopd. By then Reach revenue will easily hit RM 200 M per Qtr

https://www.thestar.com.my/business/business-news/2018/09/07/supply-concerns-put-a-firm-floor-under-oil-prices/

Reach investors see potential growth with steady brent oil prices and the latest Qtr results is the best ever. With increasing oil production coupled with good oil prices and reducing costs, Reach will move on positively

From the latest cash flow account, Reach has very good cash flow ie net cash from operating daily activities of RM 27.896 M

Hi godhand, that is corporate shareholder debt but not a bank debts. Sapura owes bank money and now bank gives a cash call.

Hi guys, why not convert Hibi to Reach.

Hi Jeffrey Ng, Hibi is too high price already and Sapura debts too high ie RM 15 B. REACH has zero bank borrowings and still considered cheap.

Reach is using new technology to pump out the oil at a lower cost. The production costs is USD 9.53 pb in 2014 reduced to 6.37 pb in 2018.

Oil up or down is normal. Brent is rangebound 70-80 pb. REACH oil production is going upwards from 2900 bpd to 3200 bpd in 1st June

https://oilprice.com/Energy/Energy-General/Asia-Braces-For-Much-Tighter-Oil-Markets.html

https://www.cnbc.com/2018/09/06/oil-markets-emerging-markets-us-china-trade-tariffs-in-focus.html

The oil price has more upside because of backwardation due to tightening supply and high demand

In the last AGM dated 28 June 2018, it was reported that from 1st June 2018 onwards the oil production is 3200 bpd.

Let's hope the long term investors will start eating up

Hi darksoul, not koyak. Just relax and keep cool.

Sometimes the investors are just waiting for cheap throws.

Last Qtr make profit. At that time Brent oil was 65 pb.

Brent oil price is rangebound USD 70-80 pb. ie RM 290.50 - 332.00 pb

Invest in dgsb, guys.

Buy on dip. Then keep for investments. Remember the success story of Hibiscus, from 19.5s in 2016 to 99.5 s in 2018. Likewise, Reach Energy will be the same. Both has Zero Bank Borrowings and they are just digging oil and sell. Oil is a vital commodity in any kind of war, even in trade war.

The drilling of NK-3 oil well which started on 10 Feb 2018 has reached the targeted depth of 4020 m and is currently under evaluation. This well will increased the in-place volumes of North Kariman. REACH is for long term investors.

Reach for investors. Brent oil is rangebound USD 70-80 pb, forex at 4.15, oil production to increase from 2900 bpd to 3900 bpd in the 2H 18, Reach offers great future earnings.

That is why Reach is a laggard. However, given time and with lots of oil reserves, Reach will soon move up to next level. In 2016, Hibiscus was only 19.5s, today after 2 years the price is now 4 times.

Hi email, last Qtr report is the best. The revenue is RM 67.67M and profit is RM 11.227M, the best Qtr for a very young company after taking over Emir-Oil in May 2017.

Capex investments in exploration has been the lowest since 2014. As demand picks up, supply is tightened, hence oil price will spike.

Trade war......Trump........haha..........pening kepala.......

Hang Seng dropped badly, today

No need annoucement , Franklim1989. The three best news from last Qtr report ,1. 2900 bpd , 2. Oil sold via a new oil terminal by pipeline and 3. CPF resumed building expected to complete by 3Q 19

Go to Reach. Sell cheap buy at reach also cheap

That is why reach investors must buy long term . Wait for the completion of the Central Processing Facilities to be done whereby Reach can handle 12,000 bpd

Yesterday Reach up 3s, today Reach down 3s , so funny....

Hang Seng Index down. Anyway, brent oil price still above 77