Posted by SinGor > 2022-09-15 10:53 | Report Abuse

To maintain Upwards momentum, you need Institution Stock Broker House like RHB, Maybank, CimB. These
"shops" service Big, Big GLC clients like EPF, PNB, and All the Billionaire in Malaysia

Posted by bullmarket1628 > 2022-09-15 11:04 |

Post removed.Why?

Posted by Lewis Lee > 2022-09-15 11:52 | Report Abuse

If off shore drilling rate reaches USD500,000 per day as predicted by expert, Velesto (now contracted at USD75,000 per day) will surely PECUT !! ..... to RM1 TP ??

Posted by EAGLE > 2022-09-15 12:18 | Report Abuse

Wow mali mali mali

Posted by Michael Kwok > 2022-09-15 13:19 | Report Abuse

Upgrade velesto 15-16 cents.
Price 12.5 cents
15/9/2022 1.20pm

Posted by hafizisolehah88 > 2022-09-15 14:08 | Report Abuse

how bout warrant tp?

Posted by WEIMEY > 2022-09-15 15:56 | Report Abuse

https://www.upstreamonline.com/production/vietnam-drilling-rig-in-position-for-three-well-cuu-long-campaign/2-1-1300488

Posted by WEIMEY > 2022-09-15 15:56 | Report Abuse

Naga 3 secured vietnam drilling rig with higher day rates
I have reiterated to ask to buy Velesto, this is now being trusted by market, I targetd this to reach RM 0.5 soon

Posted by shipcapt > 2022-09-15 16:01 | Report Abuse

huge block 0.12

Posted by WEIMEY > 2022-09-15 16:46 | Report Abuse

profit taking by some investors at 0.12. but the overall market drilling rig is the highest since 2014, this is expected the global drilling day rate would reach $160, 000 per day (from $120, 000). This is led to higher revenue for velesto, somemore with higher dayrate and utilization rate, the market valuation for drilling rig would be higher, I calculated and expected RM 200 mil impairment loss reversal. This is why research house saying Velesto would turnaround in 1H FY2022.

Posted by Bon888 > 2022-09-15 19:16 | Report Abuse

You guys waited this chance since a decade ago. Don't simply let go your stock with a peanut profits. Make sure you get a profit that able to last of another decade. Cheers! The worst is already over, it is a big wave for Oil and Gas counters from now onwards.

Posted by Macgyver11 > 2022-09-16 22:45 | Report Abuse

OPEC+ heavyweights Saudi Arabia and Russia, with their +11 million bpd quotas, are looking at $100 oil as a fair price good for all, anonymous Reuters sources familiar with both Russian and Saudi Arabian government thinking said.

Russia and Saudi Arabia, who together make up more than half of OPEC+'s total quota, are widely considered the leaders of the OPEC+ group, and a $100 preference could lead to an active defense of this desired floor price.

OPEC has long decried the accusation that it targets specific oil prices—rather, as OPEC says, it looks to keep the oil market in balance. However, oil prices still have a role to play in maintaining that balance.

The OPEC+ officials, who wish to remain anonymous, said that OPEC+ has sent out signals that it prefers a price around $90 or $100 per Brent barrel—higher, as Reuters points out, than some in the industry had previously thought.

In the August OPEC+ meeting, when oil prices were near $100 but falling, OPEC+ took action—albeit minor action—to defend this price by cutting 100,000 bpd off its production quota. It wasn't enough to keep Brent prices near $100, but perhaps it has helped to keep Brent prices above $90 for the most part, as it fights against recession fears that seek to spook the market into believing crude oil demand could slump amid tough economic times.

As to why OPEC+ seems to have raised its desired floor price, one of Reuters Saudi sources indicated that materials costs have risen with inflation and that crude producers need more revenue to make up for higher production costs.

"An oil price at $120-130 is risky and Saudi will prevent that, but at $100 it won't have a huge impact on the global economy - Saudi would be comfortable with that price," one of the anonymous sources said.

As for Russia, which has had to offer its oil at discounts for months, it wants to see oil at no less than $100 per barrel, two Reuters sources familiar with Russian thinking said.

With both Saudi Arabia and Russia backing the $100 oil horse, it could only be a matter of time before OPEC+ agrees to actively defend this price level by cutting production.

Posted by Nepo > 2022-09-16 22:45 | Report Abuse

Parking Velesto

Posted by SinGor > 2022-09-17 17:12 | Report Abuse

with Fed rates( going up) already built into Dow and barring any Bad News, Velesto will Rally next week.
Bcos this is the Only Big Cap on Turbo. Sharks enter only where there is Huge Volume ( easy Buy and Sell )

Posted by leedavid > 2022-09-19 08:01 | Report Abuse

oil seem to creeping up

Posted by ncy810116 > 2022-09-19 09:33 | Report Abuse

gloves kaki shd come here...

Posted by koyokui > 2022-09-19 09:52 | Report Abuse

Keep pumping

Posted by Macgyver11 > 2022-09-19 22:28 | Report Abuse

Over the past three months, CGS-CIMB has upgraded 12 stocks, higher than the three upgrades in the quarter before, Ng said in the 2Q2022 earnings wrap report, mainly because of more attractive valuations, following recent share price retracements or improved earnings prospects.

Stocks that were upgraded to “add” included Affin Bank Bhd, Bumi Armada Bhd, DKSH Holdings (Malaysia) Bhd, Duopharma Biotech Bhd, Eco World Development Group Bhd, Hap Seng Plantation Bhd, KPJ Healthcare Bhd, Maxis Bhd, Power Root Bhd and Velesto Holdings Bhd.

But the research house also downgraded more stocks over the past three months — 15 in total — compared with 11 in the previous results review.

The key downgrades to “reduce” are Hartalega, Lotte Chemical Titan and Panasonic Manufacturing Malaysia Bhd. Stocks that were downgraded to “hold” from “add” include Farm Fresh Bhd, Kossan Rubber Industries Bhd, Malaysia Pacific Industries Bhd and Malayan Cement Bhd.

Posted by Macgyver11 > 2022-09-20 10:36 | Report Abuse

Wow! Every day got nice volume. Like that confirm something brewing man...come on Vele break the 13c barrier

Posted by leedavid > 2022-09-20 15:06 | Report Abuse

now is the time for velesto

Posted by speakup > 2022-09-20 17:04 | Report Abuse

missed this
my remisier told me buy when 9.5sen. speakup didn't immediate by, later already 10 didn't chase. now 12

Posted by Macgyver11 > 2022-09-20 18:07 | Report Abuse

Still not too late I guess..can get 0.115c fair price.

Posted by WEIMEY > 2022-09-21 09:53 | Report Abuse

https://www.reuters.com/business/energy/offshore-drilling-daily-rates-could-rise-500000-say-executives-2022-09-14/

$500K dayrate for rig!!!! it is soon to be real

Posted by hafizisolehah88 > 2022-09-21 11:39 | Report Abuse

haiyaaa

Posted by Macgyver11 > 2022-09-21 14:25 | Report Abuse

I don't think Petronas will pay 500k unless velesto engage business outside our 0ffshore....

Posted by Macgyver11 > 2022-09-21 14:28 | Report Abuse

Petronas stingy fella la...jgn mimpi 500k

Posted by Macgyver11 > 2022-09-21 14:34 | Report Abuse

Sdh pancit kah velesto hari ni...volume pun tarak

Posted by bullmarket1628 > 2022-09-21 15:10 |

Post removed.Why?

Posted by WEIMEY > 2022-09-21 15:12 | Report Abuse

Petronas has no choice to decide the dayrate, this is driven by market with more rigs going to Saudi Arabia. Now, this is supplier of rig market, not customer of rig market. $500K is paid for drilliship la, not jackup rig, when the dayrate for drillship raised, dayrate for jackup rig will be raised too, I anticipated the dayrate for jackup rig reached $200K in 2023.

Posted by WEIMEY > 2022-09-21 15:15 | Report Abuse

With $200K dayrate, this will be 166% increase of dayrate from current dayrate, and the topline of Velesto will easily hit $1B, which haven't seen since 2014.

Assuming the profit margin is 25%, this will be RM 250M net profit. And, I estimated it will have impairment loss reversal around RM 150M to RM 200M. So the total profit for 2023 would be RM 400M. This will translate into RM 0.05 EPS with P/E is 2.5 at current price.

Posted by WEIMEY > 2022-09-21 15:15 | Report Abuse

just do simple math

Posted by investorbat > 2022-09-21 15:15 | Report Abuse

$500k day rate is for drill ship ,now daily rental is around $300k.Velesto is Jack up rig($75k),market daily rental around $90k.Total rig utilization in SEA is around 90%,100% in malaysia.All 6 Velesto's rigs taken up,any renegotiation/renewal will see another 30% rise for the rental rate.Velesto will turn to black very soon

Posted by investorbat > 2022-09-21 15:16 | Report Abuse

https://ihsmarkit.com/products/oil-gas-drilling-rigs-offshore-day-rates.html

Posted by koyokui > 2022-09-21 15:28 | Report Abuse

Buy putin makes another war. Oil up

Posted by WEIMEY > 2022-09-21 15:54 | Report Abuse

@investorbat, you are right. the dayrate in 2023 for jackup rig would hit $200K, for instance, the dayrate for drillship raised from $220K in 2021 to $400K (current rate) in 2022 due to 100% utilization rate in all market.

Posted by WEIMEY > 2022-09-21 15:55 | Report Abuse

If you are Petronas, you can't decide the rate but the market decide the rate. The market for jackup is bullish where this hasn't been seen in a decade

Posted by bullmarket1628 > 2022-09-21 15:55 |

Post removed.Why?

Posted by WEIMEY > 2022-09-21 15:57 | Report Abuse

$200K day rate is not being seen since 2010, this is the perfect opportunity for us to be on this boat! cheers to hold more velesto, I will be crazy buying as long as this is below RM 0.3

Posted by WEIMEY > 2022-09-21 16:00 | Report Abuse

Europe is urgently needing more oil, UK is allowing for more oil exploration and production, the green energy theme is gone, all turned back to be conservative oil!!! follow the wind, then you can fly!

Posted by TradeMeSideways > 2022-09-21 17:00 | Report Abuse

Steady up...!

Posted by Lewis Lee > 2022-09-21 19:38 | Report Abuse

Just be patient ! TP of 30ct surely can reach by end 2022 ! 2023 can even rise higher to 40-50 ct !!

Posted by SinGor > 2022-09-21 20:12 | Report Abuse

I used alot of Math formula to generate TP. But this just Theory!!...Goreng Chart is very different bcos it depends
on Greed and Sharks attack. Look at TopGlove, nobody can predict such steep drop even all data are given.
Now ppl say 0.15 is expensive, one week later he might say, 30 sens is reasonable. One month later, 70sens
still can go, go bcos PNB and EPF continue Sapu-ing

Posted by Lewis Lee > 2022-09-21 20:58 | Report Abuse

This “very-slow” is very slow ! It won’t shoot up 10 cts in one day ! Bit by bit 0.5 ct per day …. Sikit sikit lama lama jadi Bukit ! Lol
My experience with Very- slow !

Posted by leedavid > 2022-09-22 09:14 | Report Abuse

very strong

Posted by SinGor > 2022-09-22 09:21 | Report Abuse

stock movement has nothing to do with physical size, but more on greed and anticipation of big reward.
The Hulk can carry a One tonne stone block up a Hill slowly. But One million Tiny Human can pull same stone
up the Hill like floating a piece of paper.

Posted by WEIMEY > 2022-09-22 15:17 | Report Abuse

https://www.tradewindsnews.com/offshore/-continued-progress-clarksons-stephen-gordon-logs-20-jump-in-osv-rates-this-year/2-1-1302710

Posted by WEIMEY > 2022-09-23 12:37 | Report Abuse

https://oilprice.com/Energy/Energy-General/Energy-Earnings-Set-To-Ease-But-Oilfield-Services-Remain-Strong.html

Oil equipment & services providers are likely to remain strong performance in 2022 & 2023. Cheers to hold more velesto!

Posted by bullmarket1628 > 2022-09-23 16:36 |

Post removed.Why?

Posted by shipcapt > 2022-09-23 16:40 | Report Abuse

nothing happened....just normal transaction

Posted by Macgyver11 > 2022-09-23 17:04 | Report Abuse

Finally touched 0.135c...