Posted by Mikecyc > 2023-06-13 00:04 |

Post removed.Why?

Posted by Mikecyc > 2023-06-13 00:11 |

Post removed.Why?

Posted by Mikecyc > 2023-06-13 00:12 |

Post removed.Why?

Posted by Mikecyc > 2023-06-13 00:15 |

Post removed.Why?

Posted by Mikecyc > 2023-06-13 00:16 |

Post removed.Why?

Posted by Felix888 > 2023-06-13 00:18 | Report Abuse

Aiyoh mouse don't hate me leh. We just quarrel from last week only. 床头吵架床尾和嘛!

Posted by Mikecyc > 2023-06-13 00:23 |

Post removed.Why?

Posted by Felix888 > 2023-06-13 00:32 |

Post removed.Why?

Posted by nikicheong > 2023-06-13 01:26 | Report Abuse

First, not many companies issue a profit warning. On this score, Bumi Armada Bhd deserves a pat on the back for alerting investors to operational problems at one of its floating, production, storage and offloading (FPSO) vessels in the North Sea.

The Armada Kraken, which is operating in the Kraken field in the North Sea, was shut-in last week following the failure of the hydraulic submersible pump (HSP) transformers. According to Bumi Armada, the company, together with EnQuest plc, attempted some remedial works to restart operations but was unsuccessful.


Hence, it is the shut-in of Armada Kraken that will have a financial impact on the company. Bumi Armada stated it cannot reliably estimate the quantum of the impact at this point.

While Bumi Armada has issued a profit warning, which caused its share price to fall by more than 25% to as low as 45 sen within four days, there is no news — adverse or otherwise — on the development of the Kraken field from UK-listed EnQuest.

In its last update on May 24, EnQuest, the operator of the field, stated that the Armada Kraken had continued to perform well with about 94% efficiency as at end-April. Perhaps the company is still looking into the depth of the problem before making an announcement.

Adding spice to the incident is the equipment provider of the HSP downplaying the problems, stating that Bumi Armada’s announcement gives the impression that there is a failure of its pumps.

According to a report, Celeros Flow Technology said the shut-in was due to a failure of “critical motor supply transformers on the topside for the HSP lift system”. It added that the topside equipment was more accessible than well equipment, which could prove more costly to fix.

Well equipment relates to subsea operations, which is more difficult and costly to repair.

The Armada Kraken contributes more than 30% to Bumi Armada’s top line. Any unplanned shutdown will affect its bottom line and investor sentiment towards the oil and gas company that has gained the confidence of analysts and investors.

While it is good that Bumi Armada has issued a profit warning and used the shut-in period to undertake maintenance works, it should issue some guidance on the impact to its bottom line. At the moment, the depth of the problem in Armada Kraken is anybody’s guess.

https://theedgemalaysia.com/node/670728

Posted by nikicheong > 2023-06-13 02:37 | Report Abuse

Production from the EnQuest-operated Kraken oil field in the UK northern North Sea remains shut in following the recent failure of hydraulic submersible pump transformers on the FPSO.

The vessel, owned by Bumi Armada subsidiary, Armada Kraken Pte Ltd. (AKPL), operates under a bareboat charter contract.

AKPL and EnQuest attempted a restart of the facility following a remediation program but thus was unsuccessful, and the FPSO remains shut in.

The two parties are assessing alternative solutions with the aim of restoring production, on a phased basis, in the next few weeks.

Maintenance activities, originally scheduled for execution during single train operations this summer, have been brought forward to negate the need for any further planned outages in 2023.

https://www.facebook.com/getmanupco/posts/pfbid0hPWHe3tyJwaVPbBxJQqdYxZEEzXBnsJg5GgKWkdKFTby2gC9sdEkbso9wA143fsgl

-----------------------

This is likely the reason for today's sharp drop, the attempt to restart the facility with a stop-gap measure failed.

Posted by Gabriel Khoo > 2023-06-13 03:02 | Report Abuse

Niki i feel like the content of this facebook is old story. Is not the latest news. Looking at the storyline

Posted by Gabriel Khoo > 2023-06-13 03:04 | Report Abuse

They have not reported any news prior to this in fb. Btwn. I think drop due to oil price sentiment

Posted by StartOfTheBull > 2023-06-13 06:33 | Report Abuse

Adding salt to the wound, Brent crude futures fell to $72 per barrel. Another bearish day for O&G counters.

Posted by Huangbk72 > 2023-06-13 06:39 | Report Abuse

Hai ya. hai yo

Why jump in now? Even no one knows when problem solved.

Averaging down is suicidal now

Posted by linheng > 2023-06-13 06:47 | Report Abuse

Management Incentive Plan - 4,526,300 shares at 0.663.
TODAY NEW LISTING FOR MANAGEMENT SHARES. 4.526M SHARES ISSUE AT 0.663

Posted by RISK8888 > 2023-06-13 07:38 | Report Abuse

uncertainties behind the drop. Kraken is the turnaround facator for armada, it had help armada regain its position by reducing debt from 11bil to today 5bil in 6 years time. kraken original contract suppose to end mid 2025. If everything smooth, by then debt level may down to 2bil by mid 2025.

Posted by RISK8888 > 2023-06-13 07:43 | Report Abuse

without kraken, everything will change. debt level will maintain at 5bil range, and this will affect armada from taking new project, and also prevent them to distribute cash dividend to shareholder in near future.

Posted by RISK8888 > 2023-06-13 07:46 | Report Abuse

even kraken back to working with revise capacity, price hardly back to 0.60. because investor will factor in the risk involve in FPSO. it may only go back to 0.50. and all these depends on how bad the situation is for Kraken.

Posted by Mikecyc > 2023-06-13 08:05 |

Post removed.Why?

Posted by Mikecyc > 2023-06-13 08:07 |

Post removed.Why?

Posted by Mikecyc > 2023-06-13 08:30 |

Post removed.Why?

Posted by Mikecyc > 2023-06-13 08:31 |

Post removed.Why?

Posted by Sslee > 2023-06-13 08:32 | Report Abuse

https://klse.i3investor.com/blogs/Sslee_blog/2023-06-13-story-h-267899357-i3admin_pleasae_take_action_on_Mikecyc_abusive_and_cyber_sexual_harassm.jsp

Posted by Mikecyc > 2023-06-13 08:34 |

Post removed.Why?

Posted by Mikecyc > 2023-06-13 08:35 |

Post removed.Why?

Posted by Mikecyc > 2023-06-13 08:36 |

Post removed.Why?

Posted by value_seeker > 2023-06-13 08:49 | Report Abuse

You taken yours?

Posted by StartOfTheBull > 2023-06-13 08:51 | Report Abuse

Will there be any more "gentle reminder" to other forums today?

Posted by nicholas99 > 2023-06-13 08:59 | Report Abuse

mike tak ada duit.

Posted by Mikecyc > 2023-06-13 09:13 |

Post removed.Why?

Posted by Felix888 > 2023-06-13 09:15 | Report Abuse

Wise men say
Only fools rush in
But I can't help falling in love with you (Armada)

Posted by Hotstuff > 2023-06-13 09:26 |

Post removed.Why?

Posted by ltlim74 > 2023-06-13 09:40 | Report Abuse

4 years ago impairment charges about 1.6b due to Kraken downtime. What about this time?

Posted by KimSua > 2023-06-13 09:50 | Report Abuse

0.45 %net short position. Slowing down. 3.7 mil shares shorted on Monday. Slowed down but depends how's the buying support next #2/3 trading days

Posted by Mabel > 2023-06-13 09:59 | Report Abuse

KimSua 0.45 %net short position. Slowing down. 3.7 mil shares shorted on Monday. Slowed down but depends how's the buying support next #2/3 trading days
13/06/2023 9:50 AM

Great. Now Armada Battleship has made a strong recovery. It now climb 3.57%..

That's a good starts!

Meow Meow Meow

Posted by Felix888 > 2023-06-13 10:05 | Report Abuse

Mouse`s account suspended until August. 🤣

Posted by Ravi Kumar > 2023-06-13 10:05 | Report Abuse

Did you know why?

ltlim74

4 years ago impairment charges about 1.6b due to Kraken downtime. What about this time?

24 minutes ago

Posted by ValueInvestor888 > 2023-06-13 10:13 | Report Abuse

selling looks over for now after yesterday margin call and T+4 for contra players. Recovery will depend on how soon Kraken will be operational again...

Posted by Felix888 > 2023-06-13 10:19 | Report Abuse

Kraken FPSO still got book value for impairment? All written off already right?

Posted by Zhuge_Liang > 2023-06-13 10:26 | Report Abuse

Armada is a recovery stock.
At the lowest price of 0.42 is a big bargain.
Luckily I make full use of this cheap sales to sailang, hope to win big in this stock in the next 3 months.
Hopefully, laughing all the way to the bank the second time.

Posted by xuxu > 2023-06-13 10:36 | Report Abuse

Why so quiet here ?

Posted by bingoman > 2023-06-13 10:37 | Report Abuse

quiet no good?

Posted by bingoman > 2023-06-13 10:38 | Report Abuse

Due to repeated abuse posts, this account has been suspended from posting to the i3investor portal until 2023-08-08. Please refer to the Terms and Conditions of Use or Community Standards of this portal.

Posted by xuxu > 2023-06-13 10:55 | Report Abuse

The comments overwhelmed by all the nonsenses, really can't read at all. Back to normal now.

Posted by value_seeker > 2023-06-13 11:00 | Report Abuse

The comments were negative due to their interest or due to their envy or the worst is hoping losses for other investors. We live in a world where we hope the good will be dominant but life is not what we hope.

Posted by ValueInvestor888 > 2023-06-13 11:03 | Report Abuse

@Zhuge Liang
Why so confidence,besides price drop a lot ? I only dare to bet small only due to uncertainty in Kraken.

Posted by Zhuge_Liang > 2023-06-13 11:07 |

Post removed.Why?

Posted by Zhuge_Liang > 2023-06-13 11:10 |

Post removed.Why?

Posted by nikicheong > 2023-06-13 11:13 | Report Abuse

To recap what we know about the Kraken shut-in:

1. The shut-in was initiated on 20th May 2023 due to the transformer for the HSP failing
2. A restart was attempted within 48 hours but failed
3. Bumi Armada is losing USD450,000 in revenue each passing day the FPSO remains shut-in
4. Bumi Armada is not paying Enquest any compensation for the lack of production
5. The financial burden of repairing the transformers and alternative solutions to overcome the issue will be fully borne by Bumi Armada
6. There was a second attempt of a restart on 11 June 2023 - thus far, with no news and with heavy selling yesterday, we can only presume this failed
7. Even when the FPSO comes back online, it will be on a phased basis. Initially at 50% capacity (i.e. single train operations), and gradually over weeks to full production

Posted by RayLee > 2023-06-13 11:14 | Report Abuse

Start rebounding?