buy now

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4989325

Barakah Offshore Petroleum Berhad ("Barakah" or the “Company") is pleased to announce that its wholly-owned subsidiary company, PBJV Group Sdn Bhd (“PBJV”), has received the 2016 work scope for the Transportation and Installation Of Offshore Facilities for Year 2014-2016 (“Work Scope”).
The two pipeline projects under the Work Scope are P1 and P2. P1 refers to the Bardegg and Baronia Pipeline 24” x 43km TTJT-A to BNCPP-B and the tentative installation date is March 2016. P2 refers to Bardegg and Baronia Pipeline 24” x 125 km DNCPP-B to E11RC and the tentative installation date is May 2016.

“We upgrade Icon, Perisai Petroleum Teknologi Bhd, SapuraKencana Petroleum Bhd (SapKen) and UMW O&G to trading buys with unchanged target price. These stocks, in our view, are oversold, attractively valued, high beta proxies to any potential rebound in oil prices and weaker US dollar,” Maybank IB said.

http://www.thestar.com.my/business/business-news/2016/01/27/beaten-down-og-stocks-offer-buying-opportunities/

http://www.thestar.com.my/business/business-news/2016/01/27/beaten-down-og-stocks-offer-buying-opportunities/

“We upgrade Icon, Perisai Petroleum Teknologi Bhd, SapuraKencana Petroleum Bhd (SapKen) and UMW O&G to trading buys with unchanged target price. These stocks, in our view, are oversold, attractively valued, high beta proxies to any potential rebound in oil prices and weaker US dollar,” Maybank IB said.

http://www.thestar.com.my/business/business-news/2016/01/27/beaten-down-og-stocks-offer-buying-opportunities/

“We upgrade Icon, Perisai Petroleum Teknologi Bhd, SapuraKencana Petroleum Bhd (SapKen) and UMW O&G to trading buys with unchanged target price. These stocks, in our view, are oversold, attractively valued, high beta proxies to any potential rebound in oil prices and weaker US dollar,” Maybank IB said.

“We upgrade Icon, Perisai Petroleum Teknologi Bhd, SapuraKencana Petroleum Bhd (SapKen) and UMW O&G to trading buys with unchanged target price. These stocks, in our view, are oversold, attractively valued, high beta proxies to any potential rebound in oil prices and weaker US dollar,” Maybank IB said.

http://www.thestar.com.my/business/business-news/2016/01/27/beaten-down-og-stocks-offer-buying-opportunities/

Waiting to collect more at $0.36

a 6.4% reduction in Russian oil exports would translate into a drop of around 460,000 barrels a day, according to the Telegraph.

http://www.marketwatch.com/story/could-this-surprising-factor-save-oil-from-iran-fueled-slide-2016-01-15

http://www.marketwatch.com/story/could-this-surprising-factor-save-oil-from-iran-fueled-slide-2016-01-15

a 6.4% reduction in Russian oil exports would translate into a drop of around 460,000 barrels a day, according to the Telegraph.

6.4% reduction in Russian oil exports would translate into a drop of around 460,000 barrels a day, according to the Telegraph.

http://www.marketwatch.com/story/could-this-surprising-factor-save-oil-from-iran-fueled-slide-2016-01-15

http://www.marketwatch.com/story/could-this-surprising-factor-save-oil-from-iran-fueled-slide-2016-01-15

6.4% reduction in Russian oil exports would translate into a drop of around 460,000 barrels a day, according to the Telegraph.

6.4% reduction in Russian oil exports would translate into a drop of around 460,000 barrels a day, according to the Telegraph.

http://www.marketwatch.com/story/could-this-surprising-factor-save-oil-from-iran-fueled-slide-2016-01-15

6.4% reduction in Russian oil exports would translate into a drop of around 460,000 barrels a day, according to the Telegraph.

http://www.marketwatch.com/story/could-this-surprising-factor-save-oil-from-iran-fueled-slide-2016-01-15

DUBAI (Reuters) - President Hassan Rouhani ordered his defence minister on Thursday to expand Iran's missile programme, in response to a U.S. threat to impose sanctions over a ballistic missile test Iran carried out in October.

"As the U.S. government is clearly still pursuing its hostile policies and illegal meddling ... the armed forces need to quickly and significantly increase their missile capability," Rouhani wrote in a letter to Defence Minister Hossein Dehghan, published on the state news agency IRNA.

U.S. President Barack Obama's administration is preparing new sanctions against international companies and individuals over Iran's ballistic missile programme, sources familiar with the situation said on Wednesday.

DUBAI (Reuters) - President Hassan Rouhani ordered his defence minister on Thursday to expand Iran's missile programme, in response to a U.S. threat to impose sanctions over a ballistic missile test Iran carried out in October.

"As the U.S. government is clearly still pursuing its hostile policies and illegal meddling ... the armed forces need to quickly and significantly increase their missile capability," Rouhani wrote in a letter to Defence Minister Hossein Dehghan, published on the state news agency IRNA.

U.S. President Barack Obama's administration is preparing new sanctions against international companies and individuals over Iran's ballistic missile programme, sources familiar with the situation said on Wednesday.

DUBAI (Reuters) - President Hassan Rouhani ordered his defence minister on Thursday to expand Iran's missile programme, in response to a U.S. threat to impose sanctions over a ballistic missile test Iran carried out in October.

"As the U.S. government is clearly still pursuing its hostile policies and illegal meddling ... the armed forces need to quickly and significantly increase their missile capability," Rouhani wrote in a letter to Defence Minister Hossein Dehghan, published on the state news agency IRNA.

U.S. President Barack Obama's administration is preparing new sanctions against international companies and individuals over Iran's ballistic missile programme, sources familiar with the situation said on Wednesday.

oil price should go up if sanction start

DUBAI (Reuters) - President Hassan Rouhani ordered his defence minister on Thursday to expand Iran's missile programme, in response to a U.S. threat to impose sanctions over a ballistic missile test Iran carried out in October.

"As the U.S. government is clearly still pursuing its hostile policies and illegal meddling ... the armed forces need to quickly and significantly increase their missile capability," Rouhani wrote in a letter to Defence Minister Hossein Dehghan, published on the state news agency IRNA.

U.S. President Barack Obama's administration is preparing new sanctions against international companies and individuals over Iran's ballistic missile programme, sources familiar with the situation said on Wednesday.

http://www.thestar.com.my/news/world/2016/01/01/rouhani-says-iran-has-right-to-develop-missiles-expands-programme/

Sanction could help oil price up again

DUBAI (Reuters) - President Hassan Rouhani ordered his defence minister on Thursday to expand Iran's missile programme, in response to a U.S. threat to impose sanctions over a ballistic missile test Iran carried out in October.

http://www.thestar.com.my/news/world/2016/01/01/rouhani-says-iran-has-right-to-develop-missiles-expands-programme/

DUBAI (Reuters) - President Hassan Rouhani ordered his defence minister on Thursday to expand Iran's missile programme, in response to a U.S. threat to impose sanctions over a ballistic missile test Iran carried out in October.

Sanction could push oil price up again

http://www.thestar.com.my/news/world/2016/01/01/rouhani-says-iran-has-right-to-develop-missiles-expands-programme/

Oil sanction could help oil price up again

DUBAI (Reuters) - President Hassan Rouhani ordered his defence minister on Thursday to expand Iran's missile programme, in response to a U.S. threat to impose sanctions over a ballistic missile test Iran carried out in October.

http://www.thestar.com.my/news/world/2016/01/01/rouhani-says-iran-has-right-to-develop-missiles-expands-programme/

oil sanctions on Iran could help oil price up again.

http://www.thestar.com.my/news/world/2016/01/01/rouhani-says-iran-has-right-to-develop-missiles-expands-programme/

DUBAI (Reuters) - President Hassan Rouhani ordered his defence minister on Thursday to expand Iran's missile programme, in response to a U.S. threat to impose sanctions over a ballistic missile test Iran carried out in October.

Sanction can help oil price go up again.

DUBAI (Reuters) - President Hassan Rouhani ordered his defence minister on Thursday to expand Iran's missile programme, in response to a U.S. threat to impose sanctions over a ballistic missile test Iran carried out in October.

http://www.thestar.com.my/news/world/2016/01/01/rouhani-says-iran-has-right-to-develop-missiles-expands-programme/

http://www.thestar.com.my/news/world/2015/12/31/us-preparing-sanctions-on-iran-over-ballistic-missile-programme/

U.S. preparing sanctions on Iran over ballistic missile programme

U.S. preparing sanctions on Iran over ballistic missile programme

http://www.thestar.com.my/news/world/2015/12/31/us-preparing-sanctions-on-iran-over-ballistic-missile-programme/

Maybe due to new CEO with new contract

ICON recently high trading volume......watch up

Reiterate buy with an unchanged target price of RM2.75: The company’s net profit for third quarter ended Oct 31, 2015 (3QFY16) plunged 62.7% year-on-year (y-o-y) to RM129.9 million, following provision for impairment on oil-and-gas assets totalling RM317 million.

The decline was cushioned by a foreign-exchange gain of RM123.7 million due to the strengthened US dollar. The latest blow came after last quarter’s impairment of RM539.9 million, taking total provision to RM857 million.

The company’s quarterly revenue increased 20% y-o-y and 3% quarter-on-quarter (q-o-q) to RM2.89 billion, following higher contribution from engineering & construction (E&C) and drilling divisions.

E&C revenue jumped 41% y-o-y and 12% q-o-q to RM1.8 billion, while the drilling division increased 4.4% y-o-y, but decreased 11.5% q-o-q to RM694 million.

Meanwhile, revenue from the energy division declined 10% y-o-y and 9.5% q-o-q to RM407 million as oil prices dropped and fewer barrels lifted.

The setback came after an anticipated V-shape recovery in oil prices did not materialise.

There is potential for further impairment as previous provision was made on an oil price assumption of US$55 (RM236.50) per barrel versus US$40 per barrel currently.

Despite results coming below expectations, we kept our forecast unchanged in anticipation of a lower tax rate, a higher share of profit from associates and an impact from cost-cutting measures in 4QFY16. — JF Apex Securities Bhd, Dec 23

http://www.theedgemarkets.com/my/article/potential-further-impairment-sapurakencana

TP : RM2.75

WAR start.......oil fly high

u won't know when WAR could start ?
Between Iran, Iraq, Yemen and Saudi,

When a missile hit an oil field.....oil price go up.

If can get to MIDF today target price RM2.89........better than winning lottery.

MIDF Research: SapuraKencana has healthy operating cash flow.
SapuraKencana’s current orderbook as at Oct 31 stood at approximately RM21bil.

“Previously, we were expecting at least RM8bil to be realised in 2016 but the company has outperformed our expectation by realising close to RM8bil in the nine-months. The steep increase in revenue was a result of both stronger USD/MYR rate along with higher activity levels,” it said.

MIDF maintains its Buy call on the stock with an unchanged target price of RM2.89 per share, premised on PER17 of 13x.

http://www.thestar.com.my/business/business-news/2015/12/23/midf-research-sapurakencana-has-healthy-operating-cash-flow/?style=biz

When oil price go up, the impairment cost will become future one time extra ordinary gain.

Don't have to worry as the company still making profit and NTA is higher than current market value.

Q3 revenue rose to RM2.89bil from RM2.41bil.
9 months revenue was higher at RM7.95bil from RM7.55bil.
Net tangible Asset = RM2.31
With such a low oil price. SKPetro can still making good profit of RM129.85mil.. very good.

During the quarter, its made a provision of impairment on investment of RM28.25mil while it also made a provision of impairment on property, plant and equipment and O&G properties totalling RM317.33mil

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4956857