http://www.bloomberg.com/news/2014-12-25/saudi-arabia-seen-by-former-adviser-assuming-80-oil.html

http://www.bloomberg.com/news/2014-12-26/oil-trades-near-56-as-saudi-budget-seen-as-sign-of-confidence.html

Oil traded above $60 a barrel amid concern about Libyan supply after government forces struck Islamist militias close to the nation’s largest terminal at Es Sider.

Saudi Arabia’s 2015 budget is probably assuming an oil price of $80 a barrel, and will be seen as a sign of confidence in the market, according to a former economic adviser to the country’s government.
The assumption is down from $103 a barrel for this year, John Sfakianakis, who used to be chief economic adviser to Saudi Arabia’s Ministry of Finance, said by phone after the budget was announced yesterday. The world’s biggest crude exporter set 2015 spending at 860 billion riyals ($229 billion) with revenue falling to 715 billion riyals from 1.046 trillion riyals in 2014, the Finance Ministry said. Oil accounted for 89 percent of its 2014 revenue.
Brent oil tumbled into a bear market this year as the U.S. pumped the most crude in more than three decades, leading the United Arab Emirates Energy Minister Suhail Al Mazrouei to urge producers from outside the Organization of Petroleum Exporting Countries to trim output. Iraq, the second-biggest producer in OPEC, said this week its 2015 budget is based on $60 oil.
“Everyone was expecting to see a budget built on a price around $60 but that would have sent a negative message to the oil market,” Sfakianakis said from Riyadh. “With a fiscal break even price of $80 a barrel, the government is sending a message to the market that we are expecting to see a rebound in oil prices.” Sfakianakis is Middle East director at London-based Ashmore Group Plc.
Boosting Demand

Saudi Arabia is confident that crude prices will rebound with global economic growth boosting demand as high-cost producers cut back, Oil Minister Ali Al-Naimi said on Dec. 21. “I’m 100 percent sure prices will go up, they have no other direction but to go up.”
Brent fell 2.4 percent on Dec. 24 to $60.24 a barrel after a government report showed U.S. crude inventories increased the most in two months. Stockpiles climbed 7.27 million barrels in the week ended Dec. 19 as imports surged, the Energy Information Administration said.
Saudi Arabia has 265 billion barrels of oil reserves, with production of 9.65 million barrels a day in November, according to data compiled by Bloomberg. Iraq, the second-biggest producer, was pumping 3.35 million barrels.
OPEC’s decision to maintain output at its Nov. 27 meeting in Vienna fanned speculation that Saudi Arabia and other members want North American shale drillers and other producers outside the group to be the first to cut production. Saudi Arabia and Iran this month cut the official price levels of their main light crude grades for sale to Asia to the lowest in at least 14 years.
Surging oil prices over the past decade helped Saudi Arabia boost its net foreign assets to a record 2.9 trillion riyals in October, according to central bank data. - http://www.bloomberg.com

well, in business world, majority if not all bosses are positive with their business forecast or else they wont be in buz

Hadian has to find a good deal to inject into sona, that for sure by next year, or else all his and his partners investment of 20% stake in the company will be burned. This is good to protect all other investors as well. this may bring some upside to the stock once the oil price stabilised

my opinion, they cant do much until oil price stabilized
now price range bound, a good sign then plungingprice weeks before
hard to nego deals when price movement too volatile
last one week, wti usd 54 to 56

nice story telling
everyone here has 500m

u think he is god-son

those bought IPO prices, all losing money

now cheaper than IPO

Posted by nice1 > Dec 20, 2014 09:09 AM | Report Abuse X

the sinking armada?

1. Share price dropping since mid-year 2014 arising from problems from certain projects in africa etc, cost overuns

2. CEO HB resigned

3. CEO HB sold all his shares at the low prices. Insiders selling too?

4. Oil prices slumped

5. Rumours of AK plans to cash out. Problems too much to handle?

6. Armada price sunk to around 1.17

Are we having a perfect storm at Armada. Is Armada sinking?
Real pictures and losses will be known in few month later...

wti usd 57.89

will see E&P impacts at end of 2015

Posted by nice1 > Dec 20, 2014 09:09 AM | Report Abuse X

the sinking armada?

1. Share price dropping since mid-year 2014 arising from problems from certain projects in africa etc, cost overuns

2. CEO HB resigned

3. CEO HB sold all his shares at the low prices. Insiders selling too?

4. Oil prices slumped

5. Rumours of AK plans to cash out. Problems too much to handle?

6. Armada price sunk to around 1.17

Are we having a perfect storm at Armada. Is Armada sinking?
Real pictures and losses will be known in few month later...

the sinking armada?

1. Share price dropping since mid-year 2014 arising from problems from certain projects in africa

2. CEO HB resigned

3. CEO HB sold all his shares at the low prices. Insiders selling too?

4. Oil prices slumped

5. Rumours of AK plans to cash out. Problems too much to handle?

6. Armada price sunk to around 1.17

Are we having a perfect storm at Armada. Is Armada sinking?
Real pictures and losses will be known in few month later...

wti usd 58.2 - up
brent usd 62

oil prices stabilised upward

good signs for overall market

at least the kaki goreng is back down to earth
last time used to say TP 4.0 - pure bs

wti usd 55.20

wti price around usd55, now range bound
good sign that oil price is steady for last few days

sona is focused on E&P oil & gas - exploration & production of oil & gas
NOT oil support services business like Armada

the current oil crisis is an opportunity for sona to secured oil field much cheaper

sona, unlikely interested in armanda

Yinson takeover Armada, become world largest FPSO?

Posted by ogt8989 > Dec 19, 2014 12:46 PM | Report Abuse

YINSON?
HB go YINSON? true?
Posted by Nice2 > Dec 17, 2014 03:22 PM | Report Abuse
Investor buying Yinson.

So sad

Heard from market rumour that Hassan Basma may join YINSON

Yinson merge with B ARmada?

wa is dirt cheap
best buy

Bumi Armada’s share price has been on a downtrend since June when news broke that the company was facing problems with its African operations, particularly in Angola.

The company has been expanding its fleet in Africa. Currently, it has six vessels going into Angola, five in Congo and 11 in Nigeria.

Year-to-date, the stock has fallen 53%, wiping out some RM8 billion from the company’s market capitalisation and leaving it with RM6.8 billion as at yesterday.

Bumi Armada’s share price has been on a downtrend since June when news broke that the company was facing problems with its African operations, particularly in Angola.

The company has been expanding its fleet in Africa. Currently, it has six vessels going into Angola, five in Congo and 11 in Nigeria.

It is currently the world’s fifth largest FPSO player with seven vessels in hand. The group also has a large OSV fleet consisting of about 51 vessels.
- See more at: http://www.themalaysianinsider.com/business/article/ananda-krishnan-looking-to-exit-bumi-armada#sthash.O49MUSEK.aX6SUk2L.dpuf

1. if HB shares are free, how come got margin call and panic selling at low?

2. what projects got no kickback? world largest FSPO also have same issues


Posted by oilguy75 > Dec 18, 2014 05:11 PM | Report Abuse

Guys, HB never lose a single cent. His share was given free by BA, so nothing for him to loose. Anyway which ever New appointed CEO comes in he really needs to stick his head into the current FPSO Project operations in Singapore which is full piles of corruption shit, personal agenda and etc etc etc.

Make it short a few millionaires have been born in Singapore Project Team since 2010...bla bla bla...

oil price now 58.20. at least steadily up, +1.50
no more flushing down

good for all spacky counters, can buy oil assets cheap cheap

the refund to shareholders bought at IPO except management and founder bought cheap cheap. founder and management money all gone if no acquisition.

Posted by fyda74 > Dec 13, 2014 06:13 PM | Report Abuse

fyi, refund should be 94.75% ... No hard feeling, just hope won't misleading other ... Thanks ...

if can cash out at 48cts, how come insurance and fund didn't buy like crazy as return 20%

that is puzzling. any sifu can answer

investment in sona is actually protected by 48 cts if no acquisition or you can vote during EGM to cash out.

can any sifu confirm here.


Posted by CLIQmanagement > Dec 17, 2014 03:31 PM | Report Abuse

@nice1 : because is at cash value now.

oil still going down.

Posted by fortunebullz > Dec 17, 2014 01:58 PM | Report Abuse

A technical rebound for you to sell not to buy!

any reasons for buying?

Posted by CLIQmanagement > Dec 17, 2014 01:41 PM | Report Abuse

continue to collect. as long as stay around 0.400-0.410.

anybody buying warrant? and why?

what o&g is good and at what price

oil price still going down

too negative and kiasi

cant see opportunity in crisis

ya, anything cheap is possible
sona buy whole of salamander?
sona buy petronas oil field in Indon?

use a little common sense, if AK want to privatise, price up or down better for his pocket? Form 3 SRP question

normally, when news of privatisation out, everybody will chase, surely will go up a bit

u see the price next few days and weeks

pls do some reading, best trend to check is old Astro privatised around 2009 - u know what i meant

price drop everyday,

each day drop 20 cts, today?

still pricey, will wait below 1.80

u reporter? or staff?

Posted by michael_lee > Dec 16, 2014 01:41 PM | Report Abuse

Talked to hadian today. He said sona is renegotiating the deal with salamander for a lower price. Most likely egm in Jan and wrap things up before march

if AK to privatise, he will push the price further down
so he can offer at premium and cut his cost, check previous astro trend

will wait for below 1.0/0.70

good buy below 1.0

maddof - how low?

telur means in event no QA, the management and early investors get nothing, not even a cents

read weekend Edge magazine

Read in the Edge about the 90% trust fund- if no QA will return to shareholders EXCLUDING MANAGEMENT AND EARLY INVESTORS

that means - the Dato Sri Hadian and Maznah - get telur if no QA (though their cost is low)
those staff and investors that bought before IPO - also get telur

Can sifu here confirm this

well, we will never know, whether chi pek or lan ciou

one time around 3.0,now close to 1.0

anything is possible

any bad news on armada, read some guys said certain projects got big problems?

I am watching this one too, 70 cts - good price

Posted by Jolin Lai Chi Pet > Dec 14, 2014 02:26 PM | Report Abuse

no need to analyst lah. just buy it when it drop to 70cents! then u will see the support line........

true, I think the bottom is around US50 +-
good time to source for quality QA, its buyer market

or else we are all fuc

as oil price continue to sink, it is unlikely any SPAC will announce any acquisition QA

downside risk of oil price is still great until it has bottomed, then probably news on QA