Oops!!!, Tabung Haji, a substantial shareholder, on the Oct 16th bought back the 3.15 million Penergy shares they previously sold on Oct 10th. Only difference is that they paid RM2.805 for the shares. Why so odd Tabung Haji? Are you simply been silly or ?????

Investors, please take note that the recent sale of 3.15 million Penergy shares by Tabung Haji on Oct 10 was priced at RM2.80 per share. Interesting.Who is buying ?

Why did Petra Energy not announce the recent oil production find of 6000 bpd at Banang field as announced by Petronas more than a week earlier. Banang is part of the Kapal, Banang Meranti cluster field (KBM) RSC development. Combined with Kapal production which was announced earlier in the year, the production from KBM cluster is now 16000 bpd, a material development.

I am adequately impressed with Public Invest's Aug 22nd write up on Penergy. Just to add further that Penergy has achieved 8m plus PAT for the 2nd quarter .Taking this forward, one can expect some 30+m annually but this does not take into account profits from the risk sharing KBM cluster field. Already producing some 16000 bpd from KB. Question-- how much can this contribute towards Penergy's bottom line in 2015/2016 and onwards. One would not be too far wrong to assume that given a 20% IRR and that capex is touted to be US320m or some RM 900m , profits from the KBM cluster should be appx at least RM 180/200m annually.translating to Penergy 30% portion to some 60m. Moving forward, one can expect Penergy 's profit once KBM contributes would be some 90+m annually.giving an EPS of appx 30 sen or more . .Based on PE of 16/17 times a forward looking price is in the RM5 range. This is only based on existing contract orders and its investment in the KBM cluster. Strong growth trend in earnings is in placed.