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RH Petrogas warns of Q2, H1 loss on ' significantly lower' realised oil prices
RH Petrogas on Sunday said it expects to record a higher loss for the second quarter ended June 30, 2020, compared with the loss reported a year ago.
The independent upstream oil and gas company also expects to record a loss for the first half of 2020, compared with a profit for the corresponding half-year period in 2019. The profit guidance follows a preliminary review of the unaudited consolidated financial results of the group for Q2 and H1 2020.
The expected Q2 loss is mainly due to lower revenue recognised by the group as a result of " significantly lower" realised oil prices which averaged around US$28 per barrel for the quarter, down about 59 per cent from US$69 per barrel a year ago.
The oil markets experienced unprecedented volatility during the quarter, with Brent crude oil prices " crashing to a 21-year low" of about US$9 per barrel in late April before recovering to around S$43 per barrel towards late Jane, RH Petrogas said.
That said, the group expects to generate positive earnings before interest, tax, depreciation, amortisation, exploration expenses, impairment and other non-recurring items, as well as positive net cash flow from operations for H1 2020.
RH Petrogas will announce its unaudited consolidated financial results for the period ended June 30, 2020, on or before Aug 14, 2020.
https://www.argusmedia.com/en/news/2110387-putin-trump-talk-oil-markets-ahead-of-opec-meetings
josh8696 ( Date: 02-Jun-2020 15:58) Posted:
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With oil supply management, it will support oil prices at $40. How will the 4th June OPEC meeting impact current prices? Inputs greatly appreciated
josh8696 ( Date: 02-Jun-2020 11:27) Posted:
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Good to follow. Surging up together with rex
:)
SmallSmall ( Date: 01-Jun-2020 15:50) Posted:
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Watching this one. This one is actually producing oil in Indonesia.
Watch for breakout points .....
Watch for breakout points .....
Hmmm... Up 86%.....
Hope you all collected some on the way down to 19 last week...
Hope you all collected some on the way down to 19 last week...
RH forced to reawaken - lol
Brent @ $71 = profitable company :)
Brent @ $71 = profitable company :)
Correction coming soon .....
Winlost ( Date: 29-Nov-2017 09:46) Posted:
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was there a share split to this stock in the past?
i just checked my portfolio. I remember only buying once and holding till now.
but my portfolio shows i traded more than 20 times on this stock!
how come like that?
i just checked my portfolio. I remember only buying once and holding till now.
but my portfolio shows i traded more than 20 times on this stock!
how come like that?
No fundamentals. Cheong too much . Better to avoid . Next 2-3 days will be down . already up 4 days without any news or fundamentals .
will it continuous to run ?????
Tommy12356 ( Date: 28-Nov-2017 22:19) Posted:
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Running fast to 120 ........
SgTrader17 ( Date: 11-Oct-2016 17:40) Posted:
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Yes, at least on last week
Tommy12356 ( Date: 02-Nov-2017 22:39) Posted:
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very illiquid counter......
Bull Run ?
Octavia ( Date: 05-Apr-2017 09:36) Posted:
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Auditor Ernst & Young flagged doubts of the group' s ability to continue as a going concern in light of its FY16 net loss of US$8.6m (FY15: US$170.8m loss), with its balance sheet in a net liability position of US$36.1m. The group has US$14.8m worth of net debt that is payable in 2017.
anyone got this?
Wow.
Now sitting on some good profits off your lows positions
Congrats
Now sitting on some good profits off your lows positions
Congrats
Myopinion ( Date: 11-Oct-2016 17:20) Posted:
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I bought all the way from 17 cents to 8.2 cents... :)
SgTrader17 ( Date: 11-Oct-2016 15:35) Posted:
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