PNB owned 12.62% of Bumi Armada shares. That's huge also.

Be careful. PNB might throw Armada shares.

Today quite hectic day for me. I miss out to lock TP @ 0.31..anyway I managed to locked @ 0.295..take some profit first la. Q to buy again below 0.28 consider ok la. I changed my investment technique...hold to long boring, no excitement in there..😁😆.

Most probably EPF will start buying soon. It will help to push the price up further. EPF always looking for quick money.

From 0.60 to 0.50...boom!..adoi!

After 10 years another huge profit.

The last I saw velesto declared such a profit in 2014 (in 2019 ok2 je). Good start in 2024 with higher DCR..

Gosh! Not again in this blog ..all the while here quite and harmony. Come on guys.

The price has already been consolidating for long periods since the last spike from 0.15 to 0.275 in Jan/Feb 2023. Time to break new ground soon (subject to qtr result). Hope qtr at our favourable side.

Some foreign funds take profit last few weeks (Statens, Vanguard and Norges bank). They sold almost 170mil shares. Wonder why price can't break the 0.275 wall. Let's see today.

Normally DCR paid based on oil price.

Oh! NOOOOO!

HLIB Research, which is maintaining its “buy” call on Velesto Energy with a target price (TP) of RM0.29, said it expects 4Q23 earnings to come in between RM28mil and RM35mil.

IB optimism on vele upcoming 4th qtr earning. Hope velesto won't disappoint us again.

“Our current forecast blended DCR for financial year 2024 stood at about US$120,000, which we think is too conservative following the contract extension with Carigali Hess Operating Co for 18 months at a day rate of US$135,000 for Naga 8.”

The research house said this development would serve as a benchmark for contract wins and renewals in the near future.

“We think the day rates of contract renewal with PETRONAS will likely exceed US$125,000, as we understand that Velesto is now bidding for new jobs with day rates at the range of US$125,000 to US$140,000, in line with market rates,” the research house said.

Maybank TP 0.34
HIB TP 0.29
Kenanga TP 0.26 ( 😆 )

Brent crude seen breaching US$150 if Hamas-Israel war escalates, Malaysia to get revenue boost

Latest - TA give TP 0.33c now.

This is in my view of point...price hold very strong @ 25c to 26c. Somebody controlled it very well, don't want the price drop dramatically (to give cheap ticket) nor allowed it to shoot up very fast and give free meal to short players.

Only bilis playing around...shark don't have appetite. Must wait patiently no choice.

Rig 3, 4 and 6 supposed to work for Petronas 3Q onward as per the contract announcement recently.

Ya agreed with you. HLB said likely they not sure also. Let see the 3Q result.

I don't think velesto hv such a incompetence management to idle the rigs in such way despite those rigs already idle for quite long time during 2021/2022 (No contract) and any inspection or MO&R supposed to do then. This how Malaysia boleh land work...

Yes for me it doesn't make any sense. According to HLB out of 6 rigs 4 going for inspection and MO&R. That mean only 2 is operating...it also mean rigs utilization should be 33% not 50%.

HLB research doesn't make sense

Hold tight..crude oil at our favorable side now. DCR for vele might improve further. Ini kali lah..

US senator calls for bombing on Iran's oil infrastructure. This is part of USA strategy to hinder Iran support over Hamas group. Without oil, they have no money. Without money, the terrorism loses its biggest benefactor. Everybody talks about Iran being responsible. It is now time to make Iran pay for the price. Iran one of among opec13 members. Look like Israel wars against Palestine going to prolong quite some time. That mean more tighting in crude oil supply and brent might trading at higher level continuously.

In stock market no one better than other nor so called expert. Market sentiment will drive stock price especially in O&G sector, solely relying on crude oil price and DC rate. I'm not saying some good or not here but what I'm trying to say here is do your analysis rather than depend on other. This is the reality when give recommendation so far as I noticed...when his/her research on stock working out better, people applaud if not people curse. Be yourself...trade wisely.

Hari2 gaduhkah dlm ni blog...semua mcm budak kindergarten. You all arguing each other also no point..stock market doesn't care any shit of that so why spend your valuable energy and time for non value add argument.

While Saudi and Russia maintained output cut

Oil price slides due to institutional oil & gas trader selling in huge block, almost 26mil barrels last week to take profit.

Another reason is If you let the crude (level) drop too low in the storage area, the crude can get sludgy and you can't get it out. What does come out - you won't be able to use....so they sold it to take profit. Brent will rebound back once they re-enter again.

https://www.thestar.com.my/news/nation/2023/10/02/moh-on-alert-for-emergence-of-disease-x-in-malaysia

Fears of virus X and another lockdown dragged not only Armada share price but rest of other stocks. Investors caution withdraw the money first. Hospital in Malaysia well prepared to face another pandemic like virus X...according to sources. Will there be another lockdown?
Need to be very careful....

Adoi! you pakai crystal ball kah predict future.2025 Armada probably run out of business...EV takes over the road. Oil price might drop below usd50/barrel. That time no body care Armada got debt or not..😁

Please don't say another lockdown. Armada go back below 0.20c again

Deadly virus X...another pandemic? Adoi!!..is that true?

Haizzz! I thought going to test 0.23c, tak jadi ke? Test 0.26 pulakk rugi jual..😆

https://youtu.be/tA0onXi4e34?feature=shared

Goldman Sachs raised crude oil price usd100 barrel end of the year. The interesting part is JP Morgan give target usd 150 in year 2026. It simply mean that oil price will gradually go up 2024,2025 and 2026...and also mean that oil price will stay elevated above 100usd for 3 consecutive years. Higher DCR rate for 3 years, maybe above usd100...great news. They might change their opinions but as for now this what their statement.

I know you guy's frustration. I feel the same way but what to do, stock market doesn't
react to our feelings. Just hold for few more months till 3rd qtr or until end of the year. I strongly believed we will reap the benefit...sabar.

Standard Chartered estimates that global oil markets are facing a 3 million barrels per day deficit.

Epf, Amanah/pnb gang board in after vele break 0.30 in 2019...history could repeat again, my strong guess. Once this guys join in price easily can blow to 0.40c. Let see still too earlier.

I don't see any reason vele drop back to 0.19c unless crude oil crash below usd 50/barrel like before during covid. Nov another good profitable qtr coming. Just my 2c.

Oil bounced back. All the way to usd 100. Very good for DCR.

Malaysia Tapis crude oil already hit usd 100/barrels. Expected DCR increase also.

Don't worry bro..sap sap TP 38c to 40c. Just keep monitor brent price enough ready.

specializedvenge

Sold 20% on hand justnow
Time to buy new bicycle.
Waiting to break 0.30😀

I thought you going to buy Benz or BMW ...untung banyak mah...bicycle kah 😂

All the way to 0.30c...2019 rally returned.

Got burning smell lah..very sorry for those who sell earlier and eagerly waiting for cheap ticket...😄

Dah jual tak payah post sini tiam2 sdh ler..what you're trying to proof here.

Why selling fast despite velesto in positive side.

Imagine what is the DCR rate if oil trading at usd240...