Stupidity has its limits also with baseless comments like impairment. That’s over when times were bad. Those who worry just sell & get lost. No need to make stupid comments like experts. No need to comment like helping people. Just help yourself. In order for u to make someone else got to lose. My earlier post on share price has come true. But things have changed for the better since then Velesto board says that one more rig is in final stages for getting contract. So another RM500m contract is coming soon. Don’t listen from stupid people. Do your own reseach
Looks like today is good for mostly O&G counter. Velesto is uptrending stock and hopefully coming qtr result is positive to support it. Hope we can Huat Arr!!!
Velesto Energy Bhd is aiming for a turnaround by the end of this year based on its projection of better utilisation rate from the recovery in the oil and gas industry, said president and executive director Rohaizad Darus.
Velesto narrowed its losses from RM1.18 billion for the year ended 31 December 2016 to RM20.44 million for the year ended 31 December 2018.
Rohaizad said the utilisation rates for Velesto’s jack-up rigs had improved over the years from a challenging 21 per cent in 2016 up to 73 per cent last year.
“This is a clear sign that the oil and gas industry is recovering from a slowdown in the past two years. If there is no external major shock that could lead to major change in oil price, we will be able to hit more than 80 per cent target of our jack-up rigs’ utilisation rate.
Petronas has announced a capex allocation of more than RM50 billion for 2019, compared to RM47 billion in 2018 and according to Petronas Activity Outlook report for 2019-2021, between 16 to 19 jack-up rigs were required each year during the period.
February 2019, Velesto managed to bag a RM155 million contract extension from Hess Exploration and Production Malaysia BV for a high pressure, high temperature jack-up drilling rig, the NAGA 8, for work in offshore Peninsular Malaysia.
In April, Velesto’s unit, Velesto Drilling Sdn Bhd, secured four contracts for its jack-up rigs NAGA 2, NAGA 3, NAGA 5 and NAGA 6, with a combined value of RM432 million for a firm one-year charter.
The contracts came with two one-year extensions each.
The contracts for the NAGA 2, NAGA 3 and NAGA 5 jack-up rigs, with an estimated contract value of RM105 million, RM105 million and RM108 million respectively for the first one year period, will commence in May/June 2019.
The NAGA 6 jack-up rig services contract worth RM114 million commenced in August 2019.
Velesto this coming Qtr target to be turning great, and black, With that Velesto price will sure goes up high, as velesto has lots of contracts, and the contracts cames with two one year extensions each... these easily goes up till 2022
ASB now actively selling in the open market......5.7mil on 11/11/19 & 9.5 mil on 12/11/10 while EPF trading actively (pump & dump) protecting and preserving the profits already made.
even all getting educate well and wisely .. .. even get all knowledge,all information FA/TA analysis .. as long never take act to buy..is useless..
let hear the revelation call.. to all troops..
comeon we prove on a million light.. we beat all dark force on many battle.. even we was beat till down we always stand up back..
today is the day.. we fight when many run away and we prove it.. we come..we set..we hunt.. A thrive is our goal.. we dare yelling all day.. dare to fight or die try..
we will conquer our fears.. let red cloud on the horizon.. let great thunder and burning rain let his chariot pounding.,
we sworn.. we will never retreat or surrender.. will heard big fund was screaming,, they will watched as red stock troopers shouted the reds army will fight till last blood today..
we're red stock legions.. led red army floading all bloody battle's
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....
Moneymaker
150 posts
Posted by Moneymaker > 2019-11-14 09:41 | Report Abuse
fly fly fly