Posted by luckyman > 2019-04-06 17:39 | Report Abuse

Second wave of rally looks like coming again for oil and gas counters in view of the rising Brent oil price

Posted by ck_eyong > 2019-04-08 07:57 | Report Abuse

Scomies is a oil driller company, not producer.

Posted by fl888 > 2019-04-08 08:06 | Report Abuse

Hope will drill to NTA 21 cts ..

Posted by Abu Al Zahra > 2019-04-08 09:50 | Report Abuse

this counter just broke out 52wh 0.115 with high vol on 4.4.2019.Expecting the price will be going higher...

Posted by freeman > 2019-04-09 09:24 | Report Abuse

brent break over 70,
collect collect will hit 0.15 next 0.17

Posted by freeman > 2019-04-09 09:27 | Report Abuse

IJM has drilling business, capital expenditure in drilling new well expected to increase in 2019. Good prospect for scomies. IJM is PH govt friendly, hope could secure new oil well contract to replace Ophir. if got sure goreng to RM1 like before

Posted by Johhny1123 > 2019-04-09 12:27 | Report Abuse

Let it rest for a while before the next rally . Everyone needs a rest . As long as it stabilise at this level , I think it should be good for the future

Posted by T800Terminator > 2019-04-09 13:49 | Report Abuse

I q at 0.10.

Posted by thequalityguy > 2019-04-09 18:55 | Report Abuse

@ck_eyong ,

SCOMIES is NOT a oil-drilling company. There are providing the chemicals, additives, lubes to drilling companies & providing drilling waste management services. Please don't spread fake news if you are not sure. Read up in their website & prospectus, reviews & financial reports.

Posted by ck_eyong > 2019-04-10 00:36 | Report Abuse

Surely it is not a producer. Lol

Posted by freeman > 2019-04-10 09:25 | Report Abuse

Eventhough not a drilling co. Scomies is directly related to drilling services

Posted by freeman > 2019-04-10 11:38 | Report Abuse

support is at .115

Posted by melvintcs > 2019-04-10 20:36 | Report Abuse

scomies come on... aggresive push

Posted by fl888 > 2019-04-11 08:29 | Report Abuse

Scomi pay Scomies RM75 million friendly loan when ?? and today is T4 for a lot of buyer at 13 cts

Posted by Abu Al Zahra > 2019-04-11 18:27 | Report Abuse

Today closed with hammer.Nice

Posted by digi_three > 2019-04-11 19:03 | Report Abuse

aiyoo after penang sure one sabah sarawak oso want some monorail lorr haar? kuching and KK oso want some laar .. some more how to entice votes from those states lorr .. scomi is bound to grow lorr ..

Posted by melvintcs > 2019-04-11 19:09 | Report Abuse

Close hammer mean tmr will up?

Posted by digi_three > 2019-04-11 19:15 | Report Abuse

close like that lor it is likely than not to be reversed bullish lor .. but barring unforeseen circumstances lorr kikiki .. who knows what will happen by 5pm tomolo lorr harr aiyooo ... always think positive

Posted by Ron90 > 2019-04-12 00:02 | Report Abuse

sorry, wrong place..huhu

Posted by mylinuxbsd > 2019-04-17 12:56 | Report Abuse

going back to 0.07. thanks to incompetent government.

Posted by T800Terminator > 2019-04-17 13:06 | Report Abuse

And also thanks to PH voters.

Posted by BIGAPETITE > 2019-04-17 14:21 | Report Abuse

OPPORTUNITY TO GRAB AT A LOWER PRICE AND THE SELL DOWN NOT OVER YET

Posted by BenPg > 2019-04-19 19:20 | Report Abuse

Oil n gas sector cant move up until Dayang start moving up again. At the moment Dayang is badly injured and is struggling to stay above rm 1.30. Theres not much uncle Kyy can do as investor keep dumping everyday

Posted by BIGAPETITE > 2019-04-25 14:17 | Report Abuse

Petronas introduced the Risk Service Contract (RSC) as a petroleum arrangement designed with the objective of intensifying upstream Malaysian oil and gas activities and developing smaller, stranded oil and gas resources.

Under the terms of the RSC, the contractor is the service provider and Operator of the field, while Petronas is the resource owner. Upfront investment of capital is contributed by the Contractor, with the Contractor compensated via the reimbursement of costs plus a remuneration fee for services rendered. The remuneration fee is linked to production volume and capital cost key performance indicators, and paid from proceeds of Ophir crude sales,

Posted by BIGAPETITE > 2019-04-25 14:17 | Report Abuse

Back in April a decision was made to suspend the wells at the Ophir field and OPSB started discussions regarding termination of the Ophir RSC with Petronas. In June, Octanex exercised its right to terminate the Ophir RSC following occurrence of “economic cut-off” in accordance with the terms of the RSC. Octanex said in June that this would result in Petronas taking full responsibility for the field.

Octanex informed on Monday, November 19 that, upon the field meeting the contractual “economic cut-off” criteria, termination of the RSC was effected by OPSB. The RSC provided that following termination OPSB would be kept whole in respect to operating and capital costs for the project. OPSB has been carrying out negotiations in relation to these matters over several months.

The company added that that these negotiations had been concluded. Facilities (wellhead platform, wells, pipeline) have been handed over, reimbursement of costs has started and is expected to be completed in the second quarter of 2019.

OPSB has been relieved of most further project expenditure following novation of FPSO contracts entered into by OPSB in relation to the project. OPSB’s focus is now on project close-out and company wind-down activities, including final operating quarter Petronas cost recovery audit, GST reimbursements and loan facility close-out steps.

OPSB funded the Ophir developrnent via syndicated term loan facilities, with the balance of expenditure funded by OPSB’s shareholders in proportion to their equity interest in OPSB (50% in Octanex’s case).

The quantum of funds available for repayment of shareholder loans, following repayment of the project financing facilities, can projected within a meaningful range given the remaining expenditure requirements can now be reasonably forecast and the reduced number of outstanding variables.

Octanex largely facilitated its capital contributions to OPSB through a Sabah International Petroleum (SIP) convertible note facility, drawn to $8 million. Unless SIP elects to convert the convertible notes into Octanex shares (the drawn facility is comprised of two equal tranches of convertible notes, with conversion prices of $0.15 and $0.20), Octanex will be required to redeem the convertible notes at maturity (30 June 2019). Octanex is seeking to restructure the redemption terms of the convertible note in line with its share of projected shareholder loan repayments from OPSB.

Posted by BIGAPETITE > 2019-04-25 14:18 | Report Abuse

OPSB funded the Ophir development via syndicated term loan facilities comprised of 75% of the capital expenditure and 75% of the first three quarters of operating expenditure, with the balance of expenditure funded by OPSB’s shareholders in proportion to their equity interest (50% in Octanex’s case).

Octanex’s $12 million convertible note facility (presently drawn to $8 million) with Sabah International Petroleum (SIP) was structured for the purpose of meeting Octanex’s equity contributions to OPSB. Advances made by Octanex and other shareholders to OPSB are subordinated to OPSB’s project financing facilities. As a result of which, payments from OPSB to Octanex can only follow repayment of the project finance.

Octanex will be required to redeem the SIP convertible note facility from the proceeds of payments received from OPSB, unless SIP elects to convert the convertible notes into Octanex shares (the facility is comprised of three equal tranches of convertible notes with conversion prices of $0.15, $0.20 and $0.25).

Posted by tangen1985 > 2019-04-25 14:22 | Report Abuse

Does OPSB story affect scomies ???

Posted by BIGAPETITE > 2019-04-25 14:35 | Report Abuse

reimbursement of costs has started and is expected to be completed in the second quarter of 2019.

Posted by tangen1985 > 2019-04-25 16:11 | Report Abuse

So u mean that scomies is getting the reimbursement of the cost ?

Posted by BIGAPETITE > 2019-04-26 12:41 | Report Abuse

director is buying, what does it tell you?

Posted by nckcm > 2019-04-26 12:43 | Report Abuse

Better buy now. Still cheap. Wont go below 0.30 is a guarantee

Posted by Bentongchangsifu > 2019-04-26 12:56 | Report Abuse

Scomies consolidate at 10sen-10.5sen since last few days. After break 11sen resistance, it will challenge its previous high 14sen.

Yesterday company announcement showed that Scomies CEO bought 1.8Million shares Scomies at 10.5sen in open market. This showing something good will happen soon which only the management know. This is a bullish signal to us.

Posted by birkincollector > 2019-04-26 13:35 | Report Abuse

Could be good news from scomi restructuring?

Posted by tangen1985 > 2019-04-26 14:08 | Report Abuse

Sold mine at 12. Do not see much upwards. Good luck guys. Sell whilst people are eager to by

Posted by tangen1985 > 2019-04-26 14:26 | Report Abuse

WTI down...

Posted by tangen1985 > 2019-04-26 15:41 | Report Abuse

Sell when people are eager to buy...may go back to 10 cent soon

Posted by Abu Al Zahra > 2019-04-26 21:21 | Report Abuse

Be Fearful When Others Are Greedy and Greedy When Others Are Fearful

Posted by fl888 > 2019-04-29 09:17 | Report Abuse

privatise at 13cts,..

Posted by tangen1985 > 2019-04-29 15:15 | Report Abuse

WTI trending price is going down...do your maths..to sell or to hold..

Posted by Bentongchangsifu > 2019-04-30 09:39 | Report Abuse

One latest news want to sharing with you all. SCOMI going to dispose its stake in SCOMIES to pare down the debts. Price around 20sen-25sen per share.

Posted by Mei Choo Lim > 2019-04-30 09:44 | Report Abuse

Bentongchangsifu.... You sure or not?

Posted by Newbiesky > 2019-04-30 10:14 | Report Abuse

so which one we should buy? scomi or scomies?

Posted by Foogo90 > 2019-04-30 10:16 | Report Abuse

Good or bad?

Posted by Bentongchangsifu > 2019-04-30 10:57 | Report Abuse

SCOMIES balance sheet is more clean, debts is manageable. Some more is profit making company. Its CEO buying the share in open market last week.

Posted by Alipapapa > 2019-04-30 11:32 | Report Abuse

I sailang in Scomies. Target 20sen. hehe

Posted by tangen1985 > 2019-04-30 12:37 | Report Abuse

If Scomi is selling Scomies then, is time to switch to scomi ...monies from selling will pare down their debt means more profit to Scomi

Posted by Alipapapa > 2019-04-30 13:00 | Report Abuse

No. If Scomi selling more than 33% stake in Scomies, will trigger General Offer (GO). New buyer need to made GO to other Scomies shareholder. If price is 20sen, big upside room as price now is 13sen.

Posted by tangen1985 > 2019-04-30 13:49 | Report Abuse

So buying scomies is better

Posted by SK1200 > 2019-04-30 16:47 | Report Abuse

Recommended stock from sifu M+..

Posted by Bug62 > 2019-04-30 19:31 | Report Abuse

Who is M+ ?