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521-540 of 9971
Technical correction overdue.
Should consolidate for a while before gaining strength.
Should consolidate for a while before gaining strength.
TANPK123 ( Date: 09-Mar-2022 16:15) Posted:
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Why been dropping liao....
i think the company Kena complained by the shareholders who are accounting in professional ...
did the company channel out the revenue
???
did the company channel out the revenue
???
spursfan ( Date: 09-Mar-2022 12:58) Posted:
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Aiya the announcement mean good earning profit impact to it FY 2022 har ?...
spursfan ( Date: 09-Mar-2022 12:58) Posted:
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PRESS RELEASE
Update on Brage Field Transaction Financial Impact
&bull Acquisition of the producing Brage Field was completed on 31 December 2021, with a retrospective right to all production from 1 January 2021
&bull The Group recorded the transaction as gain from bargain purchase of US$18.2 million by way of accounting treatment as business combination
&bull Had the transaction been completed on 1 January 2021, total revenue for the financial year 2021 would have been approximately US$76.5 million higher and EBITDA would have been approximately US$32.7 million higher, before gain from bargain purchase
&bull Brage Field produced 1.06 MMBOE net to LPA in FY2021 &bull Average realised sales price net to LPA of around US$72/BOE in 2021 current price of Brent is over US$120/barrel....
https://links.sgx.com/1.0.0/corporate-announcements/S1SKEP9H2YGFHFBA/706529_20220309_RIH_PressRelease_UpdateBrageField_Final.pdf
Update on Brage Field Transaction Financial Impact
&bull Acquisition of the producing Brage Field was completed on 31 December 2021, with a retrospective right to all production from 1 January 2021
&bull The Group recorded the transaction as gain from bargain purchase of US$18.2 million by way of accounting treatment as business combination
&bull Had the transaction been completed on 1 January 2021, total revenue for the financial year 2021 would have been approximately US$76.5 million higher and EBITDA would have been approximately US$32.7 million higher, before gain from bargain purchase
&bull Brage Field produced 1.06 MMBOE net to LPA in FY2021 &bull Average realised sales price net to LPA of around US$72/BOE in 2021 current price of Brent is over US$120/barrel....
https://links.sgx.com/1.0.0/corporate-announcements/S1SKEP9H2YGFHFBA/706529_20220309_RIH_PressRelease_UpdateBrageField_Final.pdf
Rex International cranks up the production volume
IT' S been all sunshine and roses for mid-sized oil firm Rex International Holding lately but the stock showing of the former Catalist-listed firm on its maiden day on the Singapore Exchange' s mainboard belies that.
Except for the early minutes of trading when it edged marginally higher, the counter has spent Tuesday' s (Mar 8) session underwater it finished lower S$0.025 or 5.2 per cent at S$0.455.
" It seems (that) it' s not a very good day for the stock market in general. Everything is down," Rex' s executive chairman Dan Broströ m told The Business Times. The local bourse' s key Straits Times Index has dipped 1.2 per cent as Ukraine peace talks show little signs of progress.
But that' s not to say the shares of Rex International has not been stellar. Just on Monday, it hit a near 8-month high of S$0.48 and has jumped 21 per cent over the last fortnight as oil prices hit the roof on the back of a push to ban Russian oil over Moscow' s invasion of Ukraine.
Prior to the geopolitical conflict, oil prices were already elevated owing to robust demand and tight market conditions. " Our view is that oil prices would have been strong anyhow - supported by supply and demand - with or without Ukraine (crisis) but the last few weeks was because of the conflict," said Broströ m. " We believe strongly that oil prices will be at least US$75 a barrel for this year and next year."
At that price level, things should be peachy for the Singapore-headquartered company, which levelled up from being a pure oil explorer to also a producer in 2020 after its Yumna field in Oman struck first oil. Its operating break even point is low, at some US$25 a barrel.
The company is eager to step up production volumes from Oman. For January this year, production from the Yumna field amounted to 7,518 barrels per day, dragged down by maintenance works on its production system. But once the new equipment is ready by next month, there " will be a good chance that the production in Oman will automatically go up" , he said.
The completion of Rex subsidiary Lime Petroleum' s acquisition of a 33.8 per cent stake in the Brage field in Norway further sweetens its compelling prospects. The Brage field is currently producing around 2,496 barrels per day and is expected to remain consistent for 2022 and will bump up the company' s overall production volumes.
Would the company look to raise its stake in the Norwegian field? " I think 30 per cent is a good maximum for us in an area like Norway."
The firm has added another key geography to its portfolio: Malaysia. In August 2021, it signed 2 production sharing contracts with Petronas, Malaysia' s state-owned oil giant, to develop an already discovered resource base.
" What we have at the moment - Oman, Norway and Malaysia - is already a lot for a small company. We think this is what we can handle at the moment. So, I think we are not actively running around," he replied when asked if the firm is looking to expand into new markets, and then added: " But this is an open market and if someone comes along with an amazing deal, we are a very opportunistic and entreprenurial company."
The company has set an internal target to double production to 20,000 barrels per day within a year.
" This is the time when the demand is high and the supply is shy. If we can raise our production and reserves from already-owned assets, and with the high oil prices, it' s just bonanza. So, to go out and buy new assets is not necessarily the thing to do. Because new assets will also have gone up in price now," he elaborated.
Rex reversed its fortunes in FY2021. Led by a near doubling of averaged realised oil price sold to US$67 a barrel from a year ago and a ramp up in production, the firm returned to the black, posting a net profit of US$67 million from a loss of US$14 million in FY2020.
With strong operating cash flows and a healthy net cash position of US$31.3 million, the company declared a maiden dividend of a proposed S$0.005 per share payable in the fourth quarter of 2022. The management said it is also considering paying an interim dividend in 2022.
Broströ m explained: " We did it this way to make sure we have funds available to do the planned increase in production and reserves. This is the time, when oil prices are high, not to give out all our cash that we made in 2021 in dividend straight away but to wait until the last quarter.
" In the period between now and then, we will do all the things...raise production in Oman and Norway...also in Malaysia. That is going to mean that we have to put some cash into them but we can' t say exactly how much is going to be needed.
" So, we think it' s prudent. If everything works out satisfactorily and we are successful, it is going to be enormously valuable."
Oil plays extend active trading as oil prices surge on tight supply fears
SHARES of oil plays on the Singapore Exchange saw brisk trading on Monday (Mar 7), as oil prices continue surging to near their all-time high levels since 2008.
Rex International $ Rex Intl: 5WH +10.34%was up as much as 11.5 per cent or S$0.05 to reach an intraday high of S$0.485, with the counter seeing some 95.3 million shares changing hands during the day. Sembcorp Marine (Sembmarine) Sembcorp Marine: S51 +5.49% traded as high as S$0.097, up 6.6 per cent or S$0.006 with 283.7 million shares traded.
Meanwhile, RH Petrogas RH PetroGas: T13 +24.24% reached an intraday high of S$0.41, rising 24.2 per cent or S$0.08, with 59 million shares changing hands, while Interra Resources Interra Resource^: 5GI +16.67% climbed as much as 20.8 per cent or S$0.01 to S$0.058 with 40.4 million shares traded on Monday.
As for GSS Energy $ GSS Energy: 41F +4.35%, it hit its intraday high of S$0.073, up 5.8 per cent or S$0.004, with 18.2 million shares traded in the session.
Most of the counters eased slightly from their highs later in the day.
At the close on Monday, shares of Rex International settled at S$0.48, up S$0.045 or 10.3 per cent, while Sembmarine was at S$0.096, up S$0.005 or 5.5 per cent.
RH PetroGas rose S$0.08 or 24.2 per cent to close at S$0.41, Interra Resources climbed S$0.008 or 16.7 per cent to end at S$0.056, while GSS Energy closed at S$0.072, up S$0.003 or 4.3 per cent.
On Sunday, US Secretary of State Antony Blinken said the US and its European allies were exploring banning imports of Russian oil as part of sanctions on Russia for the Ukraine conflict.
Tight supply fears were also fuelled by delays in the potential return of Iranian crude to global markets. On Sunday, talks to revive Iran' s 2015 nuclear deal with world powers were mired in uncertainty following Russia' s demands for a US guarantee that the sanctions it faces will not hurt its trade with Tehran.
In the first few minutes of trade on Sunday, both benchmarks rose to their highest since July 2008, with Brent at US$139.13 a barrel and US West Texas Intermediate at US$130.50. Both contracts were at their all-time high in 2008.
RH Petrogas, Rex International actively traded as oil prices surge
SHARES of RH Petrogas and Rex International were actively traded on Thursday (Mar 3), after oil surged beyond US$110 a barrel as the market braced for supply disruptions from sanctions imposed on Russia.
RH Petrogas reached an intraday high of S$0.335 at 9.16 am, up 21.8 per cent or S$0.06, with 25.1 million shares changing hands.
Rex International reached an intraday high of S$0.45 at 9.14 am, up 4.7 per cent or S$0.02, with 14 million shares traded.
No married deals were recorded for both counters, according to ShareInvestor data.
At the close on Thursday, shares of RH Petrogas were trading at S$0.325, up S$0.05 or 18 per cent, with 76 million shares changing hands. Meanwhile, Rex International was trading at S$0.435, up S$0.005 or 1.2 per cent, with 56 million shares traded.
On Wednesday, Brent crude futures peaked at US$113.94 a barrel, before settling at US$112.93, up US$7.96 or 7.6 per cent. US West Texas Intermediate (WTI) crude futures hit a high of US$112.51 a barrel, and closed US$7.19 or 7 per cent higher at US$110.60.
Prices rose as markets were expecting a shortage of supply amid the sanctions on Russia, which were imposed following its invasion of Ukraine. Various major companies have also divested from Russia oil assets.
Supply concerns were also exacerbated after the Organization of the Petroleum Exporting Countries and its allies (Opec+) agreed to another modest increase in supply for April, by just 400,000 barrels per day, in a meeting on Wednesday.
Members of Opec+ have been struggling to meet delivery quotas amid capacity constraints due to the Covid-19 pandemic.
Heng Koon How, head of markets strategy at UOB Global Economics and Markets Research, said that although Opec+' s decision is not unexpected, it is still disappointing, with market fundamentals for the energy complex having " changed dramatically" since the invasion began.
Given that the energy market is currently " exceptionally uncertain" , Heng is not revising forecasts in the near term, but noted that higher crude oil prices may persist over the medium term. He previously targeted Brent crude oil to trade at US$110 per barrel in the first half of 2022.
Oil above 100. Rex only 0.425? What happen to $1?
Dividends 0.5 cents. Good?
NAV 15.3 cents USD.
Trade with caution and DYODD
Dividends 0.5 cents. Good?
NAV 15.3 cents USD.
Trade with caution and DYODD
War! Damn it im going to hibernate in the bunker liao. Haiz...
last June already talked about inflation and told you to BUY ! lol
iluvgambling ( Date: 16-Jun-2021 14:26) Posted:
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Thanks your analysis is indeed very choon as can see its happening this mrng. For me im taking a break for awhile. All the best. Cheers 🍻
O& G mega play is obviously not here yet.. you will see smaller and indirect players run when it is here.. like kim heng, mermaid, int res.. if u bought cheap.. stay tuned for the mega run .. like will come before may
Last year Rex Int' l announce their FY2020 results on Friday 26 Feb 2021.
Expect range bound price consolidation b4 results hopefully by Friday 25 Feb 2022.
Fingers crossed.......
Expect range bound price consolidation b4 results hopefully by Friday 25 Feb 2022.
Fingers crossed.......
YAWN.....ZZZZZzzzzz...
Jan 18 (Reuters) - Brent oil prices are primed to rise above $100 per barrel later this year, Goldman Sachs analysts said, adding oil market remains in a "surprisingly large deficit" as demand hit from the Omicron coronavirus variant is so far smaller than expected.
i dont think its has reached hyped up value yet.. if BBs really wanna push. this company can easily hit 700-800m market cap which is about 50 to 60 cents.. more than 70% upside left. its a matter of time when they are gonna move in..
Whatever the situation develops, still very much depends on oils price movement. If can sustain and move towards $100/pb .. Watch out for the surge in REX and RH
DYODD
Whatever the situation develops, still very much depends on oils price movement. If can sustain and move towards $100/pb .. Watch out for the surge in REX and RH
DYODD
FrancisLim ( Date: 19-Jan-2022 11:13) Posted:
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Oil price going up.
Rex go up as it is associated with oil exploration.
Basically, if you look at the much touted Oman oil field, the daily out has been falling from high of 12 stb per day to 8.4 stb. Basically, Oman is an oild oil field. During the intial period, the Co touted big on this oil field.
North Sea - still exploratory.
Where the much touted dividends to be paid to shareholders?
If you are bullish on oil, at least buy the oil major producers.
This is a hyped stock... and you will see the insiders happily selling on the outside.
However, DYODD
Rex go up as it is associated with oil exploration.
Basically, if you look at the much touted Oman oil field, the daily out has been falling from high of 12 stb per day to 8.4 stb. Basically, Oman is an oild oil field. During the intial period, the Co touted big on this oil field.
North Sea - still exploratory.
Where the much touted dividends to be paid to shareholders?
If you are bullish on oil, at least buy the oil major producers.
This is a hyped stock... and you will see the insiders happily selling on the outside.
However, DYODD
An exciting year ahead for this company the one and only oil producer listed here with substance. Can hear the cash register Kachink! Kachink!
Happy New year and a winderful year ahead. Cheers All !🍻
Think Rex is taking a rest, currently like snoozing at 30.0/30.5.
If can get at 30.0, like not easy to sell at 30.5. And if can get at 30.5, got to think when to cut loss, esp for contras. Whatodo.
If can get at 30.0, like not easy to sell at 30.5. And if can get at 30.5, got to think when to cut loss, esp for contras. Whatodo.