MIEH clever to sell to Reach to share the loss

lets see if lowest 0.185 support can be broken, dont ave down until true reversal

over the time, will let go the non making money asset, will bring cash and lower depreciation and maint cost

armada operation still profitable, as long as can pay debt from operational profit, it will stand tall

it depends on the oil price and kazakhstan well news

whatever goes down will come up

yday 22m drop, today at 10.30 almost 5m, might another 10-15m by end day and further drop

whom is disposing? continue drop non stop

can become PN17 if cannot serve debt (not able to refinance)

this year till end year market will be boring, big investor dont want to buy stock

stock drop very fast, up very slow

might visit 0.15 if continue disposal

high vol price drop = disposal

buy and hold, if oil stay above 60usd, in 2 years o&g can give >50% return

with the result and upcoming expansion plan, at .80 is a good price to keep

as expected
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SuperPanda gongkia has a point.. maybe hard to get better qoq at 9m but better yoy >7m should be good
20/06/2019 5:41 PM

after ceo finish reduce stake only price can go up, so watch the vol

if vol high but price go down, means big sellers, disposal in progress

if vol high price go up but cannot sustain, means pump for disposal

if vol high price go up and sustain, means new support level created and waiting for tech rebound

but careful with global market, us stock has been at the upside for quite long since last recession, anytime will repeat the cycle, always keep capital aside and dont all in

osv will go for exposure slowly and over the time it will reduce depreciation and impairment cost

next qtr will give more revenue, stay tune

the only hope is oil price must go back >70 then it can have extra margin and wait for refinance news or license extended and new well can start contribute

dont think will be PN17, but corporate exercise has to be done to repay debt.. right issue only raise small money so not effective.. most likely go for refinance like armada did with higher interest to be paid

the disposal from ceo might lead to something either merger or take over

asset ratio over debt not high look attractive but main problem it cannot produce many oil as promised since 2-3 years back to hit 5k bbl, even 3k seems very hard

gongkia has a point.. maybe hard to get better qoq at 9m but better yoy >7m should be good

based on the disposal from ceo, i expect ceo will step down and new ceo will be appointed

new mgmt needed since current ceo still cannot make progress and debt will due soon

retailers only can ride with the upside and cut loss at the downside

to rebound, need to wait good news and oil price back to 70usd

whatever below 70usd reach hardly to make profit unless it can produce >3k bbl/day to generate more revenue

Cannot move further up until EPF finish goreng, cutting stake to below 5%

During the week in review, the Employees Provident Fund (EPF) disposed of 13 million shares in oil and gas company Bumi Armada Bhd, cutting its stake to 313.86 million shares or a 5.34% stake. The EPF, which held 417.04 million shares or 7.10% in Bumi Armada at end-March, has been aggressively trimming its stake

if dont want to buy and keep, then put at somewhere else

market will be weak for long time so dont expect will shoot to the moon in short time

0.2 hits
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SuperPanda no need to rush, wait .20
13/06/2019 3:34 PM

REH still hold 11.656% and dunno how much will cut more

As long as cut continue, price will go down

The disposal of 62,800,100 ordinary shares (off-market) represents 5.728% of the total issued and paid up capital of the Company.

Total shareholdings after the change are as follows:-

Direct Interest
------------------------------------
Ir. Shahul Hamid Bin Mohd Ismail - 806,000 shares (0.074%)

Deemed Interest
------------------------------------
Reach Energy Holdings Sdn Bhd - 127,800,100 (11.656%)

bought .80

keep till end year

patience, market is bad not the biz

slowly create support, next 2 weeks another 2c up

queue at 0.805 a bit

no good news, cannot goreng, have to wait for next qtr result with improvement in revenue, if want to play o&g, can park some at velesto waiting for new contract win news soon

no need to rush, wait .20

if next qtr still below 3k bbl, confirm cannot pay back debt

from 0.31 all the way to 0.21, no hope to see back to 0.3 in short time

.205 hits

it can hit back 33 soon

wait for new contract win for the balance of rigs which probably happen later this year

it has broken support and we might see 20c later, need to hold for good news to rebound

- pending license approval for yessen-1 and yessen-2
- debt defer application for 309.4m owe to MIE Holdings
- oil price must be back to >70

market react on its non performing result and worry on its debt which required refinancing which due by this year

just buy and hold and re visit by end year

dun worry, be patience, this is not o&g stock with huge debt and volatile earnings

nope but cash call might happen soon in ths year if cannot refinance debt

nta valuation still good might go into m&a if hve party interested

the main prob every year said will return to black and increase to 5k bbl but never happen, 3k also hard to reach

but i will buy some next mon since it went below oversold now, bet on tech rebound

next mon if can sustain 0.29, means vele power

All down, velesto up.. sell on news?

conservative additional profit is 1.5m each quarter, with 2c div, eps >1.5, krono will back to glory if you hve patience