ShareJunction - Member Posts

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More important is how and if Analysts will revise up their ratings after the briefing.

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Knee jerk reaction. Should rebound along with the other upstream players such as Geo Energy and Loyz Energy.

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Reaction to the jump in loss from $48m to $237m due to impairment of old assets ?

Lucky03 ( Date: 23-Feb-2017 08:19) Posted:

KrisEnergy Ltd. FY2016 financial and operational update
 Average 2016 production rises 66.5% to 16,136 boepd
 Revenue up 137.4% at US$142.8 million
 EBITDAX1 increases to US$51.1 million
 US$303.4 million non-cash charges resulted in net loss
after tax of US$237.1 million
 Preferential offering completed: gross proceeds of S$139.5
million

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KrisEnergy Ltd. FY2016 financial and operational update
 Average 2016 production rises 66.5% to 16,136 boepd
 Revenue up 137.4% at US$142.8 million
 EBITDAX1 increases to US$51.1 million
 US$303.4 million non-cash charges resulted in net loss
after tax of US$237.1 million
 Preferential offering completed: gross proceeds of S$139.5
million

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Loyz already jumped 25% after result announcement. Try switching to KrisEnergy.

Newlearner ( Date: 20-Feb-2017 20:16) Posted:

Waste time...

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There are different players in the whole eco system of O&G sector. Upstream players are those in oil exploration, extraction and production. Those in the service and support sectors are mid stream while those at retail such as gas stations or selling by-products are downstream. What made the industry turn turtle as in the collapse of crude oil price will also be the main reason when it recovers. However, the earlier beneficiaries are both the upstream and downstream and the midstream regretfully are usually like the middle class being squeezed and also recover slower. In the process, there will be casualties, consolidation, merger and acquisitions and optimization. Those remaining will see light at the end of the tunnel bright and shine again.

HB8289 ( Date: 19-Feb-2017 15:50) Posted:

I am curious.......... we see many O & G company in Singapore each day is getting bad to worst even the crude oil is more or less stablise how is it then that O & G is recovering ??

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Hope when KrisEnergy released its result before market opens 23 Feb that there can be some update on the approval and timeline to comment drilling.

Lucky03 ( Date: 21-Jan-2017 09:24) Posted:

Below article was published 29 Dec 2016 and stated a timeline of 2 weeks so around the corner now. Just nice that KrishEnergy has secured additional financing of $140m via the preferential offerings with issuance of Notes to push ahead their game plan to step up production as the oil price recovers. Just up more then 2% on Friday.

KrisEnergy had S$130 million 6.25 per cent notes that would have come due in 2017 and a further S$200 million 5.75 per cent notes due in 2018.

Now, it only needs to return bond holders their principal in 2022 and 2023 respectively, after more than 75 per cent of voting bond holders gave KrisEnergy the green light at meetings held early Friday Dec 9 2016, the company said in a statement to the Singapore Exchange.

http://www.khmertimeskh.com/news/33718/krisenergy-to-start-drilling-for-oil/

KHMER TIMES/MAY KUNMAKARA THURSDAY, 29 DECEMBER 2016 1727 VIEWS

KrisEnergy to Start Drilling For Oil
Singapore-listed oil and gas firm KrisEnergy is expected to begin extraction from the Block A offshore oil field in the next two weeks as the government is close to finalizing the agreement, a ministry official said.

Ministry of Mines and Energy secretary of state Meng Saktheara said the ministry had already approved most of the agreement, with only small portions remaining for the Ministry of Economy and Finance to look into.

?My ministry has already cleared, in principle, every issue,? he told Khmer Times.

?Just small things remain for the Ministry of Economy and Finance and the company?s technical team to meet and discuss the investment risks. Then everything will be done.

?It?s a good time to start working on their project while the global oil price is recovering slightly,? he added before predicting that extraction work is likely to begin in a fortnight.

He also said that the draft law on oil and gas extraction is due to be finalized soon and would hopefully be approved by the government in early 2017.

KrisEnergy?s vice-president of relations and corporate communications Tanya Pang echoed Mr. Saktheara?s statement, noting that the company was close to completing the agreement pending the finalization on several details.

?Finalization of all agreements relating to the Block A oil development requires inputs from both the Ministry of Mines and Energy and Ministry of Economy and Finance,? she told Khmer Times.

?We have provided our input and we are waiting on both ministries to respond. Major issues have been resolved and only the drafting details are being fine-tuned,? she added.

Ms. Pang said that both ministries have been ?proactive and helpful,? adding that the process has been ?going well? thus far.

She added, however, that KrisEnergy remained vigilant to the price fluctuations of the oil and gas industry regardless of when it will begin extraction activity.

?As we have seen over the last 24 months, oil prices may go through periods of extreme volatility so the overall commerciality of a project must be taken into consideration rather than today?s market.

?Higher oil prices may also bring higher costs for materials, services and equipment, which must all be taken into consideration,? she said.
Even with the industry?s plunge early this year and its sluggish recovery, she noted that financing was not a concern for the company.

?Despite the tough prevailing financial and industry conditions, we have received support from our key shareholders and bank to proceed with this project. We do not foresee financing to be an issue,? she said.

KrisEnergy has an overwhelming 95 percent stake in the Block A offshore energy concession after it announced in August that it was in negotiations to buy out Mitsui Oil Exploration?s 28.5 percent stake and GS Energy Corporation?s 14.25 percent stake, after the companies approached KrisEnergy to seek a sale of their shareholdings.

The sale was completed on October 7, with the purchases adding to the 52.25 percent stake they owned since buying Chevron?s in 2014.

The Cambodia National Petroleum Authority still has a five percent stake in the 4,709-square-kilometer concession located in Cambodian waters within the Gulf of Thailand.

Officials from the Ministry of Economy and Finance could not be reached for a comment as of press time.

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If anyone believe in the recovery story of O&G given the evidence of the stability of crude price having recovered from low of US$26 to US$53, stay with the first to benefit - upstream players who are in the oil exploration, drilling and production. They will be the first to show tangible result like Loyz. KrisEnergy is in the same league so will have to see its result to be released this Thurs morning before market opens. Those in the services and support sector will still take a while or may never get back to the good old days for a while and hence we continue to see them issuing profit guidance and surfacing asset impairments.

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Don't understand why the Cambodia government has yet to issue the approval for oil extraction at Block A.

rogeryap ( Date: 16-Feb-2017 20:32) Posted:

Think it has to break .22 convincingly first, strong resistance there

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Ezra requested trading halt again. Wonder what will they be announcing again this round that will impact the O&G sector.

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Ezra continues to restrain the recovery of the O&G sector. Upstream players such as KrisEnergy should be differentiated from the downstream players such as Ezra or Ezion. Looking forward to the impending result announcement on 23 Feb for better visibility if the recovery of the crude price will help.

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Cambodian government given the approval to start extracting oil at Block A ? Announcing result before market opens on 23 Feb. Any chance of a turnaround story like Loyz Energy with a 30% jump after result announcement ?

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Looks like the weather is getting cold and for a longer time. Likely result in increased consumption of heating oil and crude.

In line with Punxsutawney Phil's 2017 prognostication, forecasters are predicting winter weather will linger into spring across much of the United States.

From coast to coast, cold air will maintain its grip across the northern tier of the country. Meanwhile, rain, thunderstorms and severe weather will threaten to kick off farther south, leading to a volatile season for many.

us spring forecast

Warmup may be delayed across the Northeast, Midwest

Spring will start off on a wet note for the I-95 corridor, including Boston, New York City and Philadelphia.

Rain and snow will fall through mid-March in most of the Northeast, holding back temperatures.

"As far as a significant warmup goes in the Northeast, I think you have to hold off until late April and May," AccuWeather Lead Long-Range Forecaster Paul Pastelok said.

Though the forecast aligns with Punxsutawney Phil's prediction, it's not all bad news for those eager to leave winter behind. The warmup should arrive faster than in the past couple of years, Pastelok said.

Chilly air will also stretch westward into the Midwest.

"It seems like all the cold and all the snow has been really piling up across that area and it's going to be no different going into the early spring," he said.

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Should be a break up.

TraderBen ( Date: 08-Feb-2017 17:10) Posted:

Boillinger Band narrowing.. either break up or down.. place ur bets...

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The crash in crude prices will drag out the correction.

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The crash in crude prices can't come at a worst time for Ezra.

sun233 ( Date: 08-Feb-2017 07:27) Posted:

Another one bites the dust.............

Wednesday, February 8, 2017 - 05:50.............BUSINESS TIMES.

Ezra Holdings

EZRA Holdings said Tuesday that it had, on Monday, received a statutory demand from the solicitors of Forland Subsea in relation to a claim made by Forland against the company for the payment of about 25.5 million Norwegian krone (S$4.4 million). The sum is allegedly due and owing by Ezra as parent corporate guarantor for the charterparty dated Dec 4, 2012, wherein Forland agreed to charter the vessel Lewek Inspector to an Ezra unit. Ezra added that the statutory demand stated that if payment is not secured or compounded to the reasonable satisfaction of Forland within three weeks, the solicitors of Forland will apply for the company to be wound up by the High Court of Singapore. Ezra said that it is currently seeking advice.

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KrisEnergy may take a pause but will return to up trend even if Ezra saga continues.

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KrisEnergy is upstream player.

Octavia ( Date: 03-Feb-2017 11:18) Posted:

going down to 14.7c?

lovetoshare ( Date: 03-Feb-2017 07:44) Posted:

Oil cannot recover much anymore
Oil exporter looking into other industry now
Over supply too much , can last for years and that is why they don't activate taking Kris as per Ltd... Your pain is big boys gains

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I was looking at upstream players such as Loyz and KrisEnergy but was uncomfortable with the relatively low trading volume of Loyz. Well, Loyz jumped 25% today with the positive news of turning around with the recovery of crude prices. KeisEnergy will be releasing its result on 21 Feb followed by investors forum. Hope they will similarly enjoy a recovery story. Given that Keppel probably own more than 66% of KrisEnergy now, perhaps there is a slim chance of offering to take it private although it was given waiver from making mandory offer for its undertaking to subscribe for any unsubscribed Notes.

rogeryap ( Date: 03-Feb-2017 00:16) Posted:

Thank u! Seems like u r a huge supporter of KrisEnergy!

Lucky03 ( Date: 02-Feb-2017 23:36) Posted:

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Lucky03 ( Date: 21-Jan-2017 09:24) Posted:

Below article was published 29 Dec 2016 and stated a timeline of 2 weeks so around the corner now. Just nice that KrishEnergy has secured additional financing of $140m via the preferential offerings with issuance of Notes to push ahead their game plan to step up production as the oil price recovers. Just up more then 2% on Friday.

KrisEnergy had S$130 million 6.25 per cent notes that would have come due in 2017 and a further S$200 million 5.75 per cent notes due in 2018.

Now, it only needs to return bond holders their principal in 2022 and 2023 respectively, after more than 75 per cent of voting bond holders gave KrisEnergy the green light at meetings held early Friday Dec 9 2016, the company said in a statement to the Singapore Exchange.

http://www.khmertimeskh.com/news/33718/krisenergy-to-start-drilling-for-oil/

KHMER TIMES/MAY KUNMAKARA THURSDAY, 29 DECEMBER 2016 1727 VIEWS

KrisEnergy to Start Drilling For Oil
Singapore-listed oil and gas firm KrisEnergy is expected to begin extraction from the Block A offshore oil field in the next two weeks as the government is close to finalizing the agreement, a ministry official said.

Ministry of Mines and Energy secretary of state Meng Saktheara said the ministry had already approved most of the agreement, with only small portions remaining for the Ministry of Economy and Finance to look into.

?My ministry has already cleared, in principle, every issue,? he told Khmer Times.

?Just small things remain for the Ministry of Economy and Finance and the company?s technical team to meet and discuss the investment risks. Then everything will be done.

?It?s a good time to start working on their project while the global oil price is recovering slightly,? he added before predicting that extraction work is likely to begin in a fortnight.

He also said that the draft law on oil and gas extraction is due to be finalized soon and would hopefully be approved by the government in early 2017.

KrisEnergy?s vice-president of relations and corporate communications Tanya Pang echoed Mr. Saktheara?s statement, noting that the company was close to completing the agreement pending the finalization on several details.

?Finalization of all agreements relating to the Block A oil development requires inputs from both the Ministry of Mines and Energy and Ministry of Economy and Finance,? she told Khmer Times.

?We have provided our input and we are waiting on both ministries to respond. Major issues have been resolved and only the drafting details are being fine-tuned,? she added.

Ms. Pang said that both ministries have been ?proactive and helpful,? adding that the process has been ?going well? thus far.

She added, however, that KrisEnergy remained vigilant to the price fluctuations of the oil and gas industry regardless of when it will begin extraction activity.

?As we have seen over the last 24 months, oil prices may go through periods of extreme volatility so the overall commerciality of a project must be taken into consideration rather than today?s market.

?Higher oil prices may also bring higher costs for materials, services and equipment, which must all be taken into consideration,? she said.
Even with the industry?s plunge early this year and its sluggish recovery, she noted that financing was not a concern for the company.

?Despite the tough prevailing financial and industry conditions, we have received support from our key shareholders and bank to proceed with this project. We do not foresee financing to be an issue,? she said.

KrisEnergy has an overwhelming 95 percent stake in the Block A offshore energy concession after it announced in August that it was in negotiations to buy out Mitsui Oil Exploration?s 28.5 percent stake and GS Energy Corporation?s 14.25 percent stake, after the companies approached KrisEnergy to seek a sale of their shareholdings.

The sale was completed on October 7, with the purchases adding to the 52.25 percent stake they owned since buying Chevron?s in 2014.

The Cambodia National Petroleum Authority still has a five percent stake in the 4,709-square-kilometer concession located in Cambodian waters within the Gulf of Thailand.

Officials from the Ministry of Economy and Finance could not be reached for a comment as of press time.