Crude had a major rebound. Warren Buffet non stop buying OXY. Given the volume we had yesterday, is today the day this break out? The absence of sellers and more buyers?

But I remember this counter is Velesto. So I better not get my hopes up or I’ll be disappointed again.

“The company also has no intention to add more drilling assets but plans to be more asset light and to move into production services that are more resilient to the cyclical nature of the industry,” the brokerage noted.

The company at the same time is exploring opportunities, either through mergers and acquisitions, partnerships or joint ventures, but has not determined any target, the research house noted.

1) Personally I like that its diversifying more to production service and going light in asset. For one it's a more reliable source of income.
2) Merger/Acquisition/Partnership/Join ventures? I hope its a change of hands with the recent volume but no movement...

https://www.thestar.com.my/business/business-news/2024/06/03/velesto-seeks-to-be-more-asset-light-this-year

Neoh you do realize every share sale is to a buyer that absorbs the cost at a lower price right? it's all about perspective.

azfar8, i also have no more ammo. but my average is low enough to not have to worry about it...yet... I do think a lot about to not taking profit at 0.31 few weeks ago. At least I got a just little bit of dividend last week.

Long term velesto investor is numb to this. a company that will let you down but enough to give you hope at the same time. I don't know if this is dumping... my guess is a change of hands with shares potentially new shark to emerge.

Crude $80 again. This stock better wake up soon.

high volume but no movement, classic velesto price action. those who invest this counter long enough are numb to this already. i thought that it will limit up.. but i am patiently waiting for shark to show up somehow.

Triple revenue is great news!! Likely will still have a few more good quarters due to rigs being contracted till 2024. Unless we have another pandemic, oil prices should be relatively stable for a while. Traveling + inflation should help price to remain 70-80 range. Any war news from Middle East can trigger oil to go up. Malaysia is blessed to be in a conflict free region too. I will TP some today and hold some to invest long term. It helps to have a lower average + company have dividend now.

I await to hear news on 2025-2026 rig contracts before I decide to sell. I hope everyone that invest in this company will have a good day today!

Ini kalilah. Kasi up

The main problem with Velesto is the lack of expansion. How are they going to grow more aside from their current rigs? But as long as oil is above $80, they can reduce their preexisting debt and increase in cash flow. My hope is that Velesto can find ways to expand and not just be a boring rig company.

Unless big bank is suppressing price to collect more, crude have maintain mostly above 78-85 range, my guess is that QR should be good. Last dividend was peanuts, if they suddenly surprise another one… good chance 🆙

Ok I tambah now. Hopefully sharks done collecting and this start to go up

Oil price go down, Velesto price go up. This stock makes no sense.

This counter all volume but no movement. Always on the active list but tido

Israel attack and Crude went up 2 percent. Velesto when is your turn to go up?

I think this is a broader market issue. Oil is still pumping but index is weak. Middle East region getting chaotic and once destabilize oil will rocket. I personally think it’s a buying opportunity. (Not financial advice)

goreng goreng

almost every O & G flying... this not moving. smh.

terbang

pea3034, burung terbang. airasia terbang. ini soon akan terbang

https://www.reuters.com/article/us-usa-syria-strike/exclusive-u-s-carries-out-airstrike-against-iranian-backed-militia-target-in-syria-officials-say-idUSKBN2AP33D

US just airstriked Syria. If the middle east is destabilized... oil prices will....

TERBANG

Show time today. As I speculated, big banks were trying to shake off the ikan bilis yesterday.

Valgrovest, I wouldnt go as far as far previous level. Every airline and cruise ship stock has rebounded in these few days (eg. Airasia). US plan to have most vaccination done by July and so are the other countries including Malaysia. Globally, people are optimistic to travel again and there will be a huge oil demand by the end of the year (prompted no new virus). In my opinion is the EV market could be the biggest threat to the oil and gas industry. However Tesla, XPev, Nio stocks have drop significantly these few days (could be market correction). I agree that there is risk but the reward seems to outweigh it atm.

Tapis oil price is at a new high. oil sector tanked today. Market manipulation?

TalkNumberOne haha. need him for clown show. Entertainment purpose.

Where is "mark my words" Roger?

"low float" stock in comparison to other oil counter. hopefully can have some major momentum and take off.

thanks for the good ang pao ARBB. collected profit and good luck to those holding. Will enter again if momentum is good.

The operator for this counter a bit weird. it went from low resistance to large wall built...

I like this prediction. if you are wrong, better. no need his negative energy here.

Roger, we need to follow your comments in the future. When you say sell, we buy. you buy, we avoid. Thank you

Roger is a clown. Even if drop back to 0.30 still higher than your prediction of going lower than 0.28. profit taken but fundamentals looks good. Diamond hands.