PNB moving Velesto shares into Amanah from Yayasan is sure sign Velesto will go further Up. Amanah got ASB saham Portfolio which is very stable Yayasan is PNB garbage Dump for "Bad / slow moving stock "
It (shares move from Yayasan to ASB) got some logic because ASB needs to pay huge dividends. If Velesto can pay dividend/capital appreciation, then ASB can solve its cash flow problem.
Believe still got ample room to surge this week, my strategy is to accumulate, medium to long term investor, may gain big profit, perhaps next week will have healthy correction if this counter keeps up increasing this week
VELESTO Energy Bhd’s latest drilling contract is expected to help the company achieve its 80% utilisation target while providing earnings visibility for the year.
The upstream oil and gas drilling service provider secured a US$8 million (RM33.5 million) contract from Petronas Carigali Sdn Bhd via its indirect wholly owned unit, Velesto Drilling Sdn Bhd.
Expected to commence in the third quarter of this year (3Q19), the contract is to drill two firm wells whereby the group will assign its Naga 7 drilling rig for the works.
Kenanga Investment Bank Bhd analyst Koh Huat Soon said the duration of the work is expected at 90 to 120 working days with daily charter rates believed to be near US$70,000 per day (excluding other value-added services).
This will enable Velesto Energy’s to make earnings before interest, taxes, depreciation and amortisation (EBITDA) margins of around 45%.
@newbieJ @Mabel, is it good to buy Velesto now? Any TP? Thanks.
29/10/2019 2:31 PM
newbieJ ,
Yes and I'm still buying even-though I have collected it earlier.
I believe the uptrend is intact as share price has tested its 52-week high at RM0.365 on Friday with exceptionally higher trading volume. Technical-wise, the share price is trading above all leading moving averages and we expect buying interest to persist, possibly to trend higher. From here, resistance levels are expected at RM0.420 (R1) and RM0.480 (R2).
Just take a look at the volume since last week. Right now at the time of writing it's already crossing 70 million shares. Ever wonder why?
Once the operator and bankers have collected it will go upwards. I have seen this pattern happened before in Armada. Please buy after you have made a good diligent. Velesto is my 2nd best performers under my collection of 9 Energy companies.
Price may be over extended, so I exit first. Anyway, you guys have fun. Hope it goes up further for you all. As for me, I am contended with my winnings for now.
Higher demand for Jack up rigs seem positive for Velesto. Petronas expected to increase & the number of Jack up rigs { for local operators} velesto seem the main beneficiary
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IronShirt
3,178 posts
Posted by IronShirt > 2019-10-25 17:08 | Report Abuse
looks like BB came in and mop-up all ikan bilis / contra selling....next week no need helmet and seat belt.....sure 40c