Paktua73: Your comments with your squad and plattoons are hilarious! LOL..Whats your average buying price now? Last time you said 0.94, now should be lower.

SarifahSelinder:- Attend AGM dan tanya ALP sendiri. Jangan kacau OTB lagi..dia dah kena serang daripada beberapa orang termasuk kamu..

OTB:- Have you spoken to ALP already? If yes, what did he say about JAKS potential ROI?

Great article bro! Keep up the good work!

Monday JAKS will limit up! If not, will breakout above RM1.

The US has finally decided to combat COVID-19 urgently! Yay!

U.S. stocks score biggest one-day gain since 2008 after Trump declares national emergency over coronavirus

What drove markets?
President Trump declared a national emergency Friday afternoon, opening up a $50 billion spigot of funding to combat the coronavirus pandemic, while ramping up testing and expanding the ability of hospitals and doctors to provide treatments for the disease.

“This will pass through and we will be even stronger for it,” Trump said in an afternoon White House press conference, flanked by heads of top U.S. retailers and pharmaceutical providers.

“I think they’ll pull out all the stops to prevent the economy from falling hard from this,” said Bruce Bittles, chief investment strategist at RW Baird &Co., in an interview with MarketWatch, following the declaration.

“I think there are a lot more fiscal measures you’ll see next week,” he said.

Trump also said interest payments will be waived on the government’s share of the near $1.6 trillion pile of student debt and quantities of strategic crude oil reserves will be bought at recently, sharply lower prices. “We are going to fill it right up to the top,” Trump said of the reserves.

House Speaker Nancy Pelosi said Friday that Democrats also are working to pass new coronavirus legislation to ramp up coronavirus testing, provide food to children and offer paid leave due to the health emergency. The infectious disease was first identified in Wuhan, China in December and has infected about 128,000 people world-wide.

U.S. Treasury Secretary Steven Mnuchin on Friday also said the government would use all its tools to support financing market functioning, while the Federal Reserve said it would ramp up its monthly purchases of Treasury securities, an effort aimed at getting banks to extend credit to businesses and beyond.

“The Fed’s done two things. It’s offered $1.5 trillion in intermediate term loans to dealers, which don’t seem to be in much demand,” Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott, told MarketWatch in an interview. “And the Fed accelerated its regular month Treasury purchases.”

Meanwhile, the Bank of Canada made an emergency 50 basis points cut Friday to its benchmark rates to 0.75%, ahead of an expected announcement of a broad fiscal stimulus package for the nation, as its citizens were urged to postpone or cancel all non-essential travel outside the country in a bid to contain the pandemic.

Economists at JP Morgan & Chase Co. US:JPM said they now anticipate seeing a “novel” global recession driven by the pandemic, with two quarters in a row of negative growth, but didn’t expect an official downturn to be declared.

DK66 & OTB:- Do you know roughly how soon will JAKS hit RM5? Can it hit that TP? Thanks!

More good news for bulls which should calm the financial markets..

Pelosi says deal reached with White House on emergency aid package for coronavirus

https://www.marketwatch.com/story/pelosi-says-deal-reached-with-white-house-on-emergency-aid-package-for-coronavirus-2020-03-13?mod=mw_latestnews

Many thanks to DK66 and OTB for their comprehensive FAs and TAs! I need to praise DK66 for his diligent effort in giving great write ups about JAKS which are among the most thorough I've ever seen. There is no doubt in my mind that DK66 is the man in this forum! Because I'm keeping JAKS till it hits my TP of RM5.00 or higher! Thanks DK66!

I've made more than 60% profit on JAKS so far. Could have made 200% profit if I had sold earlier. But nevermind, the short term panic selling market has allowed me to drastically lower down my buying price!

DJIA finishes 9.36% higher above the 23K mark! Trump has finally declared national emergency to combat COVID-19. All good news for bulls! Come Monday, JAKS will hit limit up! Yay! Lucky I sold JAKS earlier and bought back below 0.77!

Pavilion: U left out an important part of the article:-

"While large cap companies such as SapKen has successfully refinanced a large part of their debt load, the oil and gas industry as a whole remains highly leveraged even now."

I agree that SapKen is highly geared. The management is making efforts to reduce it's debt in the short term.

LOL

kinfatt: the reason why there's still a glut is due to Iran, Saudi Arabia and Russia pumping oil non-stop to fight for market share! The demand for oil is rising but cannot keep up with the supply. That's why oil prices can't rise beyond USD50 for now. But as I said before, those idiots can't keep pumping oil forever because oil companies will withdraw their investments in these countries if oil prices are not profitable.

Another reason is that the moment oil hits USD50, those stupid shale oil producers will increase their rig count. But the decline in oil prices the past few weeks should teach those buggers a lesson..LOL

Venezuela is dying and now making a plea to OPEC and non-OPEC countries to cut oil production..

http://oilprice.com/Latest-Energy-News/World-News/Venezuela-Announces-Effort-to-Reduce-OPEC-Production-Rates.html

Another reason why fossil fuel will still be in demand is that more countries are moving from coal to natural gas to run electric power stations!

kinfat999: Demand for fossil fuel will not decline contrary to popular belief. In fact, it's expected to rise within the next 20 years or so. Read the following to understand why:-

http://oilprice.com/Energy/Crude-Oil/Electric-Vehicles-Wont-Kill-Off-Oil-Demand-Anytime-Soon.html

Even in countries like Norway where the sale of EVs have risen to 110 percent/year, surprisingly Norway's oil consumption has trended slighly higher!

The reason the huge growth in electric vehicles didn’t translate into a reduction in demand in Norway is because it is set against a backdrop of a rising population and a growing fleet of vehicles on the roads (as is the case worldwide). The problem is that the conventional car fleet is adding cars faster than EVs are adding cars.

Also important to note that Norway is adding a lot of diesel engines to the fleet, another factor that helps explain the flattening in their oil demand. But, as the graph shows since 2008 they added about 300,000 diesel and gasoline cars to the roads, but despite the explosive growth in EVs the total over the same time period is only about 80,000 cars. And Norway’s explosive EV growth rate is starting to slow as the country scales back its generous subsidies.
03/08/2016 18:26

CKSAM: "You will humbled by the market in no time."..LOL

If SKPETRO goes down, it will benefit long terms investors like me, chpu2001 and limchewi to buy at lower prices. OKlar, lets say SKPETRO sinks to 80cents, it would allow me to bring down my average price to just 87cents..LOL..so ur DEAD wrong to think that the markets will humble me in due time..so far, my predictions have been spot on..

Also, i'm actually amazed u can show ur face here after you made the silly, embarrassing prediction that SKPETRO will post a huge loss which turned out to be completely unfounded..LOL

Low oil prices will kill off inefficient oil companies and drillers. Banks are now more stringent on financing oil companies. When there are no investments to extract oil, oil supply will drop.

The stupid Arabs and Russia can't keep pumping oil forever. Eventually, they will have to call it quits..LOL

limchewi: I'm very confident that by next year, oil prices will rise to above USD50. Why do I say so? Global oil demand is expected to increase in the coming years due to increasing population. According to the EIA, "the pace of inventory builds is expected to slow to an average of 0.9 million b/d in 2016. The market is expected to reach balance in 2017, with inventory draws during the second half of the year averaging 0.3 million b/d."

"Global consumption of petroleum and other liquid fuels is estimated to have grown by 1.4 million b/d in 2015. EIA expects global consumption of petroleum and other liquid fuels to INCREASE by 1.4 million b/d in 2016 and by 1.5 million b/d in 2017, mostly driven by growth in countries outside of the Organization for Economic Cooperation and Development (OECD). Non-OECD consumption growth was an estimated 1.0 million b/d in 2015, and it is expected to be 1.3 million b/d in 2016 and 1.5 million b/d in 2017."

Here is a posting from EIA detailing their findings. Contrary to popular belief, EVs will not dent the demand for oil, at least for another 20 years. Until then, demand for oil should rise steadily.

https://www.eia.gov/forecasts/steo/report/global_oil.cfm

chpu2001: Yup, he's an idiot who's got nothing better to do than to come to SKPETRO forum and post bearish comments with the evil motive to cause panic selling among investors.

Long term, SKPETRO will definitely go up..most likely next year..just be patient

Cheers bro!

Caution! Listing of rights issue is next Tuesday..expect major selldown from those who got shares at RM1.00 via rights issue..

Oil continues it's upward trend..as of now, it's up by 1.84%..looks like the bear market is over..

http://oilprice.com/Energy/Oil-Prices/Why-The-Bear-Market-Could-Be-Over-In-A-Flash.html

chpu2001: LOL...noler..that clown cksam should aim bigger and wait for skpetro price to nose dive to 10 cents..then can sell at 80cent making 800% profit..LOL

Yep..looks like cksam's dream to buy SKPETRO below RM1 is coming true...AFTER 35 YEARS..LOL

Gold drops by 80 percent..Bornoil will head south..good luck to those are in already..LOL

http://oilprice.com/Metals/Gold/Gold-Buying-Drops-Almost-80-Percent-In-This-Key-Market.html

Oil spikes after EIA report. Looks like the recent selldown have taught oil producers a lesson..LOL

http://oilprice.com/Energy/Energy-General/Oil-Spikes-After-EIA-Reports-Significant-Draw-To-Gasoline-Stocks.html

Oil price jumps 3% back to USD40 on bullish data

http://oilprice.com/Energy/Energy-General/Crude-Holding-Around-40-On-Bullish-EIA-Data.html

Looks like stupid CKSAM must wait longer for SKPETRO to hit 80cents..LOL

The drop in oil prices these past few weeks is also a good thing as it will teach those efficient shale oil producers to not increase the rig count before oil hits USD60..LOL

For long terms investor, SKPETRO is a strong company with a huge orderbook. Just be patient and by next year, you will be rewarded. LOL

Short term, oil prices could nose dive to USD30. I won't disagree with that, but to me that's a good thing because it will kill all the inefficient shale oil producers and OPEC countries like Venezuela and Nigeria. Saudi Arabia is pumping oil like there's no tomorrow because they want to drive prices down further. But how long can they keep it low? They will suffer themselves and if they don't get oil back up to USD50 and above, their economy will also collapse.. LOL..

People, don't listen to CKSAM and his cronies. From his imbecile postings in this forum, it's obvious his intention is to drive prices below RM1.00 (probably 80cents) so that he can sell it back at 50 or 100% profit.

A few weeks back before SKPETRO released it's last quarterly earnings, this clown was screaming in this forum saying that SKPETRO will report a bigger lost. He even claimed that the company will undertake a rights issue exercise to pay off it's debt...LOL

When the report came out, it was a slap to his face as not only did SKPETRO made a profit, it also managed to win additional contracts to replenish its orderbook.

Wakaka..so don't believe this idiot. For long term investment, SKPETRO is sound. Don't worry about short term oil price volatility.

Cheers!

CKSAM is nothing more than a dummy coming here to post oil-is-dommed articles hoping that gullible investors will hit the sell button in a panic so that it will drive SKPETRO stock to below RM1.00. LOL


As I said before, i still have 80% of my portfolio in cash. Sold off all my investments in export stocks already at a profit..now waiting to cash in on oil once fundamental improve

I still own SKPETRO shares at an average price of below RM1.50. If SKPETRO goes to 80cents or 10cents, I'm ready..LOL

We certainly need EVs, but I haven’t seen anyone put together a credible mathematical case that they will even arrest the growth in oil demand over the next decade. Inevitably, they rely on faulty assumptions of fantastic EV growth rates and zero growth for oil — which is contrary to our observations.

That’s why I am skeptical. If you project out far enough then indeed you can see EVs making a dent, but that’s far further into the future than proponents like to admit, and oil prices are likely to be much higher — not lower — when that happens.

ScrewDriver: Demand for fossil fuel will not decline contrary to popular belief. In fact, it's expected to rise within the next 20 years or so. Read the following to understand why:-

http://oilprice.com/Energy/Crude-Oil/Electric-Vehicles-Wont-Kill-Off-Oil-Demand-Anytime-Soon.html

Even in countries like Norway where the sale of EVs have risen to 110 percent/year, surprisingly Norway's oil consumption has trended slighly higher!

The reason the huge growth in electric vehicles didn’t translate into a reduction in demand in Norway is because it is set against a backdrop of a rising population and a growing fleet of vehicles on the roads (as is the case worldwide). The problem is that the conventional car fleet is adding cars faster than EVs are adding cars.

Also important to note that Norway is adding a lot of diesel engines to the fleet, another factor that helps explain the flattening in their oil demand. But, as the graph shows since 2008 they added about 300,000 diesel and gasoline cars to the roads, but despite the explosive growth in EVs the total over the same time period is only about 80,000 cars. And Norway’s explosive EV growth rate is starting to slow as the country scales back its generous subsidies.

Here's why fossil fuel demand will increase in the next decade..Quote from an article




Despite carmakers’ efforts to roll out electric cars, liquid fuels aren’t likely to disappear any time soon. First of all, drivers are comfortable with – and accustomed to – their internal combustion engine vehicles and the process of finding gas stations and filling up a tank. And even if everyone decided to switch to electric cars tomorrow, they wouldn’t be likely to get rid of their conventional cars right away, given that cars often last 10-15 years.

Battery technology also isn’t ready to replace all fuel tanks: batteries are heavier than gasoline and take up more space to deliver the equivalent power. The battery needed to power a jumbo jet over long distances, for instance, would be so large that it would leave no room for passengers. Electric powertrains also are unfeasible today for big ships.

CKSAM...ooi bodoh, this idea of turning CO2 into fuel has been around for some time...demand for fossil fuel is still rising..LOL

Stupidlar u CKSAM..LOL


http://www.sciencemag.org/news/2015/09/feature-there-s-too-much-carbon-dioxide-air-why-not-turn-it-back-fuel

CKSAM: wakaka...stupidlar u...first you come here posting articles touting that EVs will kill fossil fuel demand which I refuted...LOL.

Now you come here posting another article claiming that a breakthrough in solar cell will end fossil fuel demand..LOL

Yawn....LOL

Oil prices to spike. Buy Buy Buy!

http://oilprice.com/Energy/Energy-General/Todays-Downturn-Sets-Markets-Up-For-A-Dramatic-Oil-Price-Spike.html

Another great insight into why Electric Vehicles won't kill off demand for oil. In fact, oil demand is expected to grow in the coming years leading to higher oil prices..

http://oilprice.com/Energy/Crude-Oil/Electric-Vehicles-Wont-Kill-Off-Oil-Demand-Anytime-Soon.html

Don't believe everything blindly. Must use your head and think. The world bank's analysis doesn't take into account the huge possibility that oil producing countries will cut production in the near future. As I've said all along, if no one takes the initiative to cut production, everyone will die! How long more can OPEC sustain low oil prices? Venezuela's economy and oil sector is already dying..soon to follow, Saudi Arabia, then Russia..LOL

One by one oil producing countries will die unless everyone makes a collective effort to control oil production.

LOL..all bullish news for me..

Buy Buy Buy, future stockk. Oil to hit USD120 as early as 2018..LOL

http://oilprice.com/Energy/Oil-Prices/120-Oil-As-Soon-As-2018.html

Another one for stupid CKSAM who thinks EVs will kill the O&G industry. Stupid clown doesn't realize that we get elecricity from electric power stations generated by fossil fuel (natural gas, petroleum and coal). The US is already moving away from coal to natural gas to reduce CO2 emissions. This means in the future demand for natural gas will soar when the demand for electricity goes up due to EVs. Where do we get natural gas from? From CKSAM's backside when he farts? LOL..

CKSAM, ur one stewpid fella who know nothing about the O&G industry. Better go buy tesla shareslar instead of wasting ur time posting the doom for O&G industry because of EVs..LOL

Or be smarter and read the below articles...

http://www.forbes.com/sites/judeclemente/2016/06/12/the-booming-u-s-natural-gas-electricity-market/#3afe227221cc

http://www.forbes.com/sites/jamesconca/2016/05/16/natural-gas-is-replacing-nuclear-power-not-renewables/#36f44d464abb

This is for stupid people like CKSAM who think that EVs will kill the O&G industry.
In this clever discussion, the first thing that the commentators mentioned when asked whether they will sell off all their oil & gas investments because of Tesla is a resounding "NO!". One even laughed at that question. The bearish report that Bloomberg came out saying that by 2023, 35% of vehicles worldwide will be electric are nothing more than wishful thinking. Factors that the report didn't take into account:-

1) Growing population of developing countries.
2) Ease of transitioning from ICE to electric vehicles. Is everyone going to dump their ICE cars just because EVs are here? Only stupid people like CKSAM will..LOL
3) Jet, trains and fuels to power electric stations? What will power those?


Very good video for those who are long term investors in O&G.

http://www.fool.com/investing/general/2016/03/02/are-electric-vehicles-actually-going-to-kill-oil-i.aspx

Venezuela O&G sector is almost dead...first country to be a casualty of low oil prices...

http://oilprice.com/Energy/Crude-Oil/Is-This-The-Beginning-Of-The-End-For-Venezuelas-Oil-Sector.html

More oil producing countries are going to be on the chopping board if no one takes the initiative to reduce oil output..

LOL

This CKSAM is a stupid fellowlar..he thinks that SKPETRO will end up like Swiber, Swiber went bust because they couldn't get any more contracts and their existing contract with Vietnam was cancelled. With a huge debt and outstanding bonds of US1.1 billion and virtually no revenue source, how can any company survive?

Actually, this is good news for SKPETRO because this means 1 less competitor..LOL

In the coming months, I expect to see more oil and gas companies folding up..

The depressed oil prices will weed out the weak companies from the strong ones and and only the fittest will survive.

In the meantime, you must be pretty stupid to be thinking of buying SKPETRO shares if you think that the O&G industry is doomed. Go buy Tesla stockslar since you say that EVs will kill the O&G industry..LOL

Stupid peoplelar..nothing better to do but to lurk around this forum to scare people to sell at a lost.

LOL

The low oil prices is a blessing in diguise as it's killing off oil production.

http://oilprice.com/Energy/Crude-Oil/Low-Oil-Prices-Kill-Off-7-Billion-Barrels-Of-Oil-Production.html

SKPETRO should fly high in the coming months as even at low oil prices, it's still able to get contracts..

Well done SKPETRO

Some clown said that we shouldn't believe in false news. That's the reason oil prices have been volatile lately.

Faulty Data? Why The Oil Glut Could Be Much Smaller Than Believed

http://oilprice.com/Energy/Energy-General/Faulty-Data-Why-The-Oil-Glut-Could-Be-Much-Smaller-Than-Believed.html

"This may seem all a bit arcane, but the end result from the Canada issue is that inventories may not be as high as everyone thinks, and the oil market could be tighter than many believe. Oil prices have much more room on the upside as a result."

http://oilprice.com/Energy/Energy-General/Forget-The-Glut-This-Is-Why-Oil-Prices-Will-Rise.html

The rate of oil production decline in the United States will accelerate in the 3rd quarter. It has already started.

Per the EIA: In the last six weeks:

> U.S. oil production has declined 222,000 barrels per day.

> U.S. oil imports have increased by 512,000 barrels per day.

Crude oil in U.S. storage facilities has declined 10 of the last 11 weeks, despite the sharp increase in imports.

http://oilprice.com/Energy/Crude-Oil/Is-This-A-Game-Changer-For-The-US-Oil-Industry.html

A potential Moody's downgrading of US oil companies that drilling aggressively for money could hurt their financial position. This would control the supply of oil from the US. Very good news for oil bulls!

"Such a move would represent a major drag on exploration and development across the U.S. With the threat of lower ratings likely to kill executive drilling incentives — and slow the pace of production and reserves growth.

That would have significant implications for oil and natgas supply. Watch for a final decision from Moody’s on this game-changing policy — and any similar moves from other agencies like S&P coming afterward."