Ron90 syndicate play....huge debt laden with bad QR ..up ..trap ikan bilis at the top nanti.. .. vice versa, good company, consistent good uptrend results, they push it down as the performance is no good.
wait for a few days, the true color will appear 01/03/2019 20:02
Oil edges up on Venezuela and Iran sanctions, OPEC supply cuts Oil prices tick higher, adding to modest gains this week. Crude futures continue to draw support form OPEC-led supply cuts and further signs Venezuela's PDVSA is struggling to export oil amid U.S. sanctions. U.S. crude oil stockpiles surge as American drillers pump at all-time highs near 12 million barrels a day.
While the oil and gas environment continues to be challenging and Petroliam Nasional Bhd (Petronas) will continue to be mindful of being cost efficient, it looks like 2019 might actually be a more vibrant year for the upstream oil and gas segment.
Firstly, Petronas CEO Tan Sri Wan Zulkiflee Wan Ariffin expects capital expenditure (capex) to increase to above RM50bil in 2019 from RM46.8bil last year.
A Very promising OL for Velesto in 2019 as petronas plan to increase their upstream activities form current 2018 about 15 Rigs to 25-29 rigs in the year of the pig. Huat kau kau Velesto!
Based on Petronas boss statements, velesto will surely bag a few contracts soon. Petronas has confirmed that they will bear the mobilisation & demobilisation costs which are very substantial. Hence moving forward velesto cost will be reduced on rigs contracted by Petronas
The cost of moving rig from one place to another is really expensive. Each Well average 50 days drilling time. Two well 100days , previous contract(3 months), got to move back to Base. Petronas should hand out contract more then 5 wells (one year job), then Velesto can make more profit-----I found it very difficult to estimate profit every quarter, don't know still drilling or on the way back to base
i prefer more contracts on Hydraulic Workover bcoz this are 3 years Job----Oil price if keep steady at $60--65 all year round is more then sufficient to encourage Petronas to keep Drilling New wells
Market sources has advised that Velesto Energy jackup Naga 7 (375'-IC) has secured a contract with Murphy Oil for drilling in Block SK314 off Sarawak. Commencement is scheduled for the 3rd week of March for a duration of about 120 days. (Riglogix) ...
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
signalmw
3,314 posts
Posted by signalmw > 2019-03-06 11:52 | Report Abuse
Funny bride oil down it up