I was told protasco is not going up. Took the effort to take closer look here.
As long time in oil industry and retiree, and also Sumatec investor i look at this wanna be protasco looks funny. Still I buy some shares, it should go up but its not. Why they kiasu tie themselves into so complicated position? Oil players buy drilling rights no string attached, and owns it, thats it. Then raise fund drilling oil. That simple. Many drill gets nothing, its part of the game. Protasco well has proven oil, already upper hand, what else better than Sumatec. Reading their announcements now we see the problem. They act smart but stupid. Thats why investor losing faith?
CEO Chong Saad is not Halim Saad. By thousand yard!
Halim Saad far away in Khazastan oil project finish acquisition overnight and done fund raising within weeks or months. Shares go up all shareholders happy. Have oil or not contract last just few years, no guarantee no asset no condition set to Khazastan, and need tons of investment, Sumatec investors care? They all made money. Many oil tycoon spend hundred millions just to buy offshore drilling rights to gamble before drilling. Many drill and fail. Oil is big boy game, oil tycoon some rights bought got oil some dont, its part of the game. One thing for sure, Share price goes up. Nobody complain because this is the industry way. Some oil major tender oil rights decision made in days and compete each other and pays to get the rights like hot cake.
On the other hand Chong Saad buy a simple oil contract act like oil tycoon, but laughable when read the funny announcement, they ask Indonesian government to guarantee pregnant, guarantee a boy, guarantee this and that (read the story i also confuse why ask all these kiasu points) but until now did not finish. Bought right is as is, investors have no problem as its part of investment cost we pay for. Why so many nonsense and that is worst off at investors cost. If not finish am sure petro indonesia will not support or even allow unclear right owner to do work. Petronas is same, all same. Now thats the problem. Oil company petro Indonesia also confuse, investor lagi confuse and fund managers who follows oil story worst off, totally confused. What is this Cina Pek doing? Pitty the Indonesia government got cheated, they could have sold the right to Halim Saad and now on the drill. Do like other oil players do, buy a contract complete it and make it clear to oil company petro Indonesia no nonsense condition and they are a player now, so they can start work, investor and foreign funds all happy like Sumatec Halim Saad did, so they buy your shares, subscribe to your right issue, you drill like other oil players, got oil or not, investors are happy because this is how the game is played.
I invest into Sumatec even without proven oil like what protasco has. My Sumatec went up more than Protasco. Lucky i invest more in Sumatec because Halim Saad knows what investors want. The wanna be is no close league. Hello Mr Chong Saad? Stop out smart the rich oil players so share price goes 2.90.
Stock: [PRTASCO]: PROTASCO BHD
2014-07-26 09:46 | Report Abuse
I was told protasco is not going up. Took the effort to take closer look here.
As long time in oil industry and retiree, and also Sumatec investor i look at this wanna be protasco looks funny. Still I buy some shares, it should go up but its not. Why they kiasu tie themselves into so complicated position? Oil players buy drilling rights no string attached, and owns it, thats it. Then raise fund drilling oil. That simple. Many drill gets nothing, its part of the game. Protasco well has proven oil, already upper hand, what else better than Sumatec. Reading their announcements now we see the problem. They act smart but stupid. Thats why investor losing faith?
CEO Chong Saad is not Halim Saad. By thousand yard!
Halim Saad far away in Khazastan oil project finish acquisition overnight and done fund raising within weeks or months. Shares go up all shareholders happy. Have oil or not contract last just few years, no guarantee no asset no condition set to Khazastan, and need tons of investment, Sumatec investors care? They all made money. Many oil tycoon spend hundred millions just to buy offshore drilling rights to gamble before drilling. Many drill and fail. Oil is big boy game, oil tycoon some rights bought got oil some dont, its part of the game. One thing for sure, Share price goes up. Nobody complain because this is the industry way. Some oil major tender oil rights decision made in days and compete each other and pays to get the rights like hot cake.
On the other hand Chong Saad buy a simple oil contract act like oil tycoon, but laughable when read the funny announcement, they ask Indonesian government to guarantee pregnant, guarantee a boy, guarantee this and that (read the story i also confuse why ask all these kiasu points) but until now did not finish. Bought right is as is, investors have no problem as its part of investment cost we pay for. Why so many nonsense and that is worst off at investors cost. If not finish am sure petro indonesia will not support or even allow unclear right owner to do work. Petronas is same, all same. Now thats the problem. Oil company petro Indonesia also confuse, investor lagi confuse and fund managers who follows oil story worst off, totally confused. What is this Cina Pek doing? Pitty the Indonesia government got cheated, they could have sold the right to Halim Saad and now on the drill. Do like other oil players do, buy a contract complete it and make it clear to oil company petro Indonesia no nonsense condition and they are a player now, so they can start work, investor and foreign funds all happy like Sumatec Halim Saad did, so they buy your shares, subscribe to your right issue, you drill like other oil players, got oil or not, investors are happy because this is how the game is played.
I invest into Sumatec even without proven oil like what protasco has. My Sumatec went up more than Protasco. Lucky i invest more in Sumatec because Halim Saad knows what investors want. The wanna be is no close league. Hello Mr Chong Saad? Stop out smart the rich oil players so share price goes 2.90.