Posted by freeman > 2017-10-26 22:19 | Report Abuse

Ophir

Performance test of the wells and facilities at offshore Malaysian oilfield under way

Josh Lewis

23 Oct 2017 00:06 GMT Updated 23 Oct 2017 01:00 GMT

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Production is starting up at the Ophir oilfield development off the coast of Malaysia.

Field co-owner Octanex revealed Monday the field facilities had been tested and commissioned, with start-up routines now initiated.

It added hydrocarbons had been introduced into the system and are being received, processed and stored on the floating production, storage and offloading vessel.

Performance tests of the wells and facilities are being carried out and the countdown is now on for first oil which Octanex said was contractually defined as 20 days of production from a consecutive 25 days, following completion of testing.

It comes after it was reported last week the MTC Ledang FPSO had been successfully moored at the Ophir field.

The field lies in a water depth of roughly 70 metres and is being developed via three production wells, a wellhead platform and a the FPSO.

Ophir is being developed under a risk services contract by Octanex (50%), Scomi Energy (30%) and Vestigo Petroleum (20%).

Posted by luckyman > 2017-11-03 21:18 | Report Abuse

https://www.thestar.com.my/business/business-news/2017/09/16/low-oil-price-a-blessing-in-disguise-for-enra/

Posted by MoneyNotEnough > 2017-11-10 12:13 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5597269

Posted by MoneyNotEnough > 2017-11-10 12:13 | Report Abuse

http://www.theedgemarkets.com/article/hibiscus-active-136-positive-outlook

Posted by MoneyNotEnough > 2017-11-10 12:13 | Report Abuse

http://www.enanyang.my/news/20171110/%E8%BF%91%E6%9C%9F%E6%95%B2%E5%AE%9A%E4%B9%B0%E5%8D%96%E7%BB%86%E8%8A%82br-%E5%A4%A7%E7%BA%A2%E8%8A%B1%E7%9F%B3%E6%B2%B9%E5%AF%84%E6%9C%9B%E6%B2%99%E5%B7%B4%E8%B5%84%E4%BA%A7/

Posted by Sneakpeek > 2017-11-14 18:31 | Report Abuse

KUALA LUMPUR (Nov 14): Scomi Energy Services Bhd's joint-venture company Ophir Production Sdn Bhd has achieved first oil following the completion of its field development plan of the Ophir Field located offshore of the East Coast of Peninsular Malaysia.

Scomi Energy has a 30% stake in Ophir, which was granted a risk service contract (RSC) by Petroliam Nasional Bhd (Petronas) in 2014 to develop the Ophir Field. Australia-based Octanex Ltd has a 50% stake in Ophir, while Vestigo Petroleum Sdn Bhd holds the remainder 20%.

The Ophir Field is located in Block PM315 approximately 230 km offshore East Coast Peninsular Malaysia. Under the RSC with Petronas, the Ophir Field will be developed via three production wells, a wellhead platform, and a floating, production, storage and offloading vessel.

In a statement announcing the first oil achieved, Octanex said it expects the first lifting of Ophir crude to occur in December this year. It first commenced production of crude oil on Oct 20.

Posted by luckyman > 2017-11-14 21:17 | Report Abuse

http://www.malaysiastock.biz/Blog/BlogArticle.aspx?tid=13392

$$$$$$ =>> Scomies

Posted by Sneakpeek > 2017-11-15 08:14 | Report Abuse

KUALA LUMPUR (Nov 14): Based on corporate announcements and news flow today, stocks in focus on Wednesday (Nov 15) may include: Eastern & Oriental Bhd, Petra Energy Bhd, Apex Healthcare Bhd, Scomi Energy Services Bhd, Paramount Corp Bhd, Lay Hong Bhd, Sunway Construction Group Bhd and Ho Wah Genting Bhd.

Posted by Kevin Khoo > 2017-11-15 10:43 | Report Abuse

https://www.facebook.com/KLSELION/photos/a.854214074738461.1073741829.848454415314427/866944146798787/?type=3&theater

Posted by freeman > 2017-11-18 11:14 | Report Abuse

All these merger things holding scomies share up

Posted by freeman > 2017-11-18 11:15 | Report Abuse

120 more days to finalize the merge.. rejected or approved

Posted by JaJa7777 > 2017-12-10 12:26 | Report Abuse

Crashing??

Posted by winmal > 2017-12-12 09:56 | Report Abuse

good to fix the date, is time for us to refrain the merger in the way that collective votes more than 10. good luck

Posted by winmal > 2017-12-12 09:59 | Report Abuse

why scomi want retain bloody monorail business with legal proceedings. just dispose the company instead of consolidated these companies for the sake of financing the debt commitment in scomi Eng

Posted by winmal > 2017-12-12 10:08 | Report Abuse

whose take care minority shareholders interest?? recently oil in uptrend, scomi energy is poised to benefit for higher oil price as Orphir oil field already start production.

Posted by JaJa7777 > 2017-12-12 13:43 | Report Abuse

They need to completely restructure their entire business….. But to do so I think they still have to complete the merger, concentrating on Orphir and building from it and to close or ditch the likes of the monorail with-out hurting will be extremely difficult.
To many overheads and fingers in none revenue/profit generating pies has killed this outfit, that and the top-heavy corporate structure sucking up funds.

Q1 and Q2 results didn’t and has not shown the full story!
The prospect of losing its entire bank guarantee of Rs 250 crore in India??? Daily/weekly and monthly fines that are not being paid?? Not supplying the new carriages and replacing the one that set its self on fire all have major ramifications, More court cases and fines coming, investigation to potential fraud for substandard chemicals being supplied, the list goes on and on and I am sure there is a lot more that we don’t know about and none of this is reflected in the reports….
Falling revenue, late payments, increasing overheads, loans being defaulted and late payment of salaries all looks like the company is in a death spiral to me….

Orphir cannot cover the operating costs of EN as is let alone the other two entities, time to cut loose and lighten the load.
All needs to be done before Q3 release otherwise its good night Vienna……
Something radical must be done and sharpish.

Extraordinary General Meeting on 04-Jan-2018 (I really like the fact that this is being held at Bukit Kiara Equestrian & Country Resort, a real cost cutting exercise there then!!!)
https://cdn1.i3investor.com/my/files/dfgs88n/2017/12/11/1507058259--1500601485.pdf

So keeping an eye on the current share values and their current southerly direction, do you? – buy-in and or keep your shares for voting rights??? Try and make your vote count but bearing in mind who holds the bulk of the shares and knowing already which direction that they will be voting in, Cash out and watch from the side-lines?????

Which way will you vote?????

Posted by winmal > 2017-12-12 15:24 | Report Abuse

why should merge with Group, what benefit do energy get.?

Posted by BIGAPETITE > 2017-12-12 17:34 | Report Abuse

brent oil has reach USD65

Posted by JaJa7777 > 2017-12-12 18:41 | Report Abuse

No benefit to Energy what so ever and will only make things worse.

But looking at Group and Engineering the only chance of survival for them is to bring in the only potential and that is Orphir.....I see absolutely nothing else in the bag or on the immediate horizon for the other two that will stop them going under.

Can you really see the top management closing the doors on Group and En and putting themselves out of a job for the sake of the survival of Energy????

What will happen after the merger takes place??? Lay off 66% of middle management, operations, finance, HR and logistics etc etc etc and desperately try and cut down on the overheads and operating costs, reduce the requirement for offices, fixed assets and the likes????
Do they have the capability to lay off so many staff as this would-be redundancy and is going to be an expensive course of action????

Either that or bring them all together, break away a few potentially profitable elements (sell-off or rename but keeping key elements / directors around in the background???) and allow the rest to Judicial Management or Corporate Voluntary Arrangement. These are desperate times and anything is possible.

Just my thought but I don’t see how all three can possible survive together or apart.
Any thoughts on other potential solutions??? This is a great forum for discussion as there are so many much closer to the real action than mere passing investors.

Posted by winmal > 2017-12-12 19:10 | Report Abuse

BDO capital appointed by scomi try to advocate minority shareholders the deal for merger is fair on news. adviously many shareholders are reluctant to accept the offer. seem high possibility minority could achieved collective vote more than 10%

Posted by winmal > 2017-12-12 19:16 | Report Abuse

BDO coded that the merger given advantages of 30% based on current market price. BuT today the subdue share price was desperately selling on recent days before announcements.

Posted by freeman > 2017-12-12 22:10 | Report Abuse

Pls everyone, attend the egm, n together we will vote againts the merger

Posted by freeman > 2017-12-12 22:14 | Report Abuse

Bdo is paid to persuade for the benefit of sgb.. not for the benefit of minority shareholder
If we keep track the price of sgb n scomies we will see that scomies price consistently below sgb.. this is because the term offered is better for sgb.. that was already reflected in the market.. those investor has vote and they understand..
What bdo is doing is only trying to say a black thing as white

Posted by freeman > 2017-12-12 22:21 | Report Abuse

We could see the latest trend of business excercise is going for pure play and de merge instead of combining all business activities in one single entity.
We see omw energy emerge as single entity, we see sime darby has evolved into three entities instead of one single umbrella.. why sgb want to lump all business into one..?
Unless their objective was not for the best interest of minority shareholder.. but to serve their capitalist dream

Posted by BIGAPETITE > 2017-12-14 09:49 | Report Abuse

through proposed merger deal :

1) scomi engineering -
scomi will undertake to acquire all ordinary shares of scomi engineering with a offer price of rm0.30(premium gain based of current market price) for each scheme share equivalent for which shall be satisfied a share swap of every 7 shares held entitled 10 new consolidated shares of scomi at an issue price of rm0.21 per consolidated share.

2.scomi energy -
scomi will undertake to acquire all ordinary shares of scomi energy with a offer price of rm0.126 (mearge gain based of current market price) for each scheme share equivalent for which shall be satisfied a share swap of every 5 shares held entitled 3 new consolidated shares of scomi at an issue price of rm0.21 per consolidated share.

out of the 3 co's we know which will make progressive in the coming quarters as current oil price is on the uptrend.

judging from the deal its seems scomi is offering better value for shareholders of scomi engineering than shareholders of scomi energy.

Posted by BIGAPETITE > 2017-12-14 14:37 | Report Abuse

therefore minority shareholders of scomi energy are advice to strongly oppose the term offered at the court convened meeting to be held at Dewan Berjaya, Bukit Kiara Equestrian & Country Resort, Jln bukit Kiara, Off Jln Damansara 60000 KL on Thursday 4 Jan 2018 at 2.00pm

Bear this in mind, they have made it clear that those name appeared in the central depository record as at 29 dec 2017 are allowed to go in the meeting and vote for your right.

Posted by freeman > 2017-12-16 13:17 | Report Abuse

For the coming weeks before egm
They will press down the share price of scomies
While push up the share price of sgb
This will make it attractive for scomies shareholder to agree with the merger
They are wicked capitalist
Brace yrself
When the time come.. we will vote againts the merger

Posted by winmal > 2017-12-18 11:25 | Report Abuse

right, we need collective minority vote to refrain the merger

Posted by BIGAPETITE > 2017-12-21 11:57 | Report Abuse

market perception toward the proposed deals a lackadaisical approach as seem in recent performance in terms of volume and pricing, literally the whole proposed structuring of scomi entities into a new scomi group is for the benefit of their own agenda not minority shareholders.

Posted by winmal > 2017-12-24 15:11 | Report Abuse

giving continue up trend of oil price & Orphir oil field will contributing & improving energy cashflow beginging next year.so why should energy sacrifice for the sake of major shareholder own agenda?

Posted by BIGAPETITE > 2017-12-27 11:12 | Report Abuse

brent oil price hit USD66

Posted by BIGAPETITE > 2017-12-27 11:14 | Report Abuse

if scomi do not up the ante(offer better term) for the proposed deals on scomi energy, the merger deal unlikely to go through

Posted by BIGAPETITE > 2017-12-27 16:21 | Report Abuse

heavyweight oil & gas counters on bull run, second liner will follow suits hence holds your share for upside gain

Posted by freeman > 2018-01-04 16:50 | Report Abuse

Minority shareholders vote out the merger resolution

Posted by freeman > 2018-01-04 19:30 | Report Abuse

But not sure how market going to react tommorrow for scomies..
Sgb and scomieng share sure down

Posted by Dartmaster > 2018-01-04 21:03 | Report Abuse

Good news for scomies???!

Posted by BIGAPETITE > 2018-01-05 09:47 | Report Abuse

brent oil hit USD68

Posted by freeman > 2018-01-05 10:58 | Report Abuse

Seem good news for scomies

Posted by BIGAPETITE > 2018-01-05 11:46 | Report Abuse

if the vessel is keep redundant and the BOD fails to capitalized on the opportunity as the oil price increases which means the BOD needs to review whether they are efficient in their position in bringing value to the company as a whole

Posted by freeman > 2018-01-05 12:07 | Report Abuse

all O&G has rallied from past week.. now with ophir in near future that will lift first oil soon.. will able to follow

Posted by luckyman > 2018-01-05 23:14 | Report Abuse

https://www.thestar.com.my/business/business-news/2017/01/12/rsc-lease-of-life/

http://www.macrotrends.net/1369/crude-oil-price-history-chart

Posted by limkokthye > 2018-01-07 20:29 | Report Abuse

worth to buy? wait for 10sen buy 20000

Posted by limkokthye > 2018-01-07 20:42 | Report Abuse

buy scomi or scomies? whickh is better?

Posted by limkokthye > 2018-01-08 09:55 | Report Abuse

scomi or scomies which is better?

Posted by freeman > 2018-01-08 12:17 | Report Abuse

Scomies.. direct benefit to oil price..
1. Wait for news of lifting 1st oil from floating storage
2. Coming quarter onward the revenue from oil will be reflected in the p&l
3. Fair price of scomies is .29

Hold for 6 months.. or in & out based on technical analysis
If u are TA expert

Posted by Rusli Widad > 2018-01-08 12:47 | Report Abuse

The support & resistance level of SCOMIES are 0.125 & 0.175 respectively. It is oberved that MACD line of SCOMIES is above the centreline indicating some degree of strength in the price movement.

Posted by limkokthye > 2018-01-08 13:26 | Report Abuse

looks scomies very good, buy 10biji

Posted by limkokthye > 2018-01-08 16:30 | Report Abuse

omg, just buy ,drop d

Posted by freeman > 2018-01-08 17:06 | Report Abuse

dont worry
momentum still strong

Posted by limkokthye > 2018-01-08 19:29 | Report Abuse

mr & mrs oil and gas is back