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Likely BB left hand to right hand to scare retail to sell 118...just my guess....
wehuattogether88 ( Date: 27-Mar-2023 09:06) Posted:
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Sell on rumours buy on facts.
Time to rebound :)
Time to rebound :)
one gup.. 5m shares gone!!
buy Up like no road block.
huge roadlock at 120..
The 2022 financial statements, balance sheet shows accumulated losses of USD85.6 million.
In the Co' s reply to Morgan' s open letter:
" Lastly, one point we can concur with Mr Morgan is that we are all interested in a higher share price and we believe the Company to be undervalued. "
Everyone is interested, but the fact is there - accumulated losses of USD85.6 million
Monthly oil production, even with this reply that it is seeing 9,000 barrels per day, still fall short of the past Oman' s production of 12,000 barrels per day or at heigh, probably 14,000 barrels.
Morgan was not unprofessiional or condescending, when oil prices were at peak, production volume fell drastically with long shutdown. Costs increased - explorations, impairment and interest expenses.
Yet, the BOD and the management, as pointed out by the forum contributor, remunerated themselves well.
UOBKH in its downgrade of the share price to 10 cents, is professiional.
In the Co' s reply to Morgan' s open letter:
" Lastly, one point we can concur with Mr Morgan is that we are all interested in a higher share price and we believe the Company to be undervalued. "
Everyone is interested, but the fact is there - accumulated losses of USD85.6 million
Monthly oil production, even with this reply that it is seeing 9,000 barrels per day, still fall short of the past Oman' s production of 12,000 barrels per day or at heigh, probably 14,000 barrels.
Morgan was not unprofessiional or condescending, when oil prices were at peak, production volume fell drastically with long shutdown. Costs increased - explorations, impairment and interest expenses.
Yet, the BOD and the management, as pointed out by the forum contributor, remunerated themselves well.
UOBKH in its downgrade of the share price to 10 cents, is professiional.
ratz... ah dan comes out all gun blazing and rambo mode...
sgx announcement starts with this sentence, and bt left it out... -- " ..We regret that a letter containing factual errors and written in a condescending and unprofessional manner was published in the reputed Business Times.."
baffling y ah dan takes such a combative stance..
is the right questions asked & the right to question the coy as vested party.
no one is in disagreement to divestify. isnt greener energy projects or startups more core to its existing biz than drones & meds? not to mention meds biz usually takes decades to fruition excluding during/in a pandemic crisis.
sgx announcement starts with this sentence, and bt left it out... -- " ..We regret that a letter containing factual errors and written in a condescending and unprofessional manner was published in the reputed Business Times.."
baffling y ah dan takes such a combative stance..
is the right questions asked & the right to question the coy as vested party.
no one is in disagreement to divestify. isnt greener energy projects or startups more core to its existing biz than drones & meds? not to mention meds biz usually takes decades to fruition excluding during/in a pandemic crisis.
moneynoenough ( Date: 25-Mar-2023 19:08) Posted:
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UOBKH 21 March 2023
" Despite being an oil producer, REX& rsquo s net profit does not appear to have any correlation to the oil price as shown in the chart on RHS. We calculate that the correlation of REX& rsquo s net profit to the oil price at 0.07 and thus investors looking for an & ldquo oil price play& rdquo should look elsewhere.
In addition, the technology behind the company& rsquo s Rex Virtual Drilling does not appear to have added any shareholder value since the company& rsquo s IPO in 2013 at S$0.50. Over the 2014-22 period, the company recorded cumulative net losses of US$72m, with four out of the nine years being profitable. & bull
" Despite being an oil producer, REX& rsquo s net profit does not appear to have any correlation to the oil price as shown in the chart on RHS. We calculate that the correlation of REX& rsquo s net profit to the oil price at 0.07 and thus investors looking for an & ldquo oil price play& rdquo should look elsewhere.
In addition, the technology behind the company& rsquo s Rex Virtual Drilling does not appear to have added any shareholder value since the company& rsquo s IPO in 2013 at S$0.50. Over the 2014-22 period, the company recorded cumulative net losses of US$72m, with four out of the nine years being profitable. & bull
andy_thong ( Date: 26-Mar-2023 21:07) Posted:
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i like undervalued stock
You are right. When UOB says sell, you must buy because it they are waiting at the lower end to grab
TraderBen ( Date: 26-Mar-2023 13:27) Posted:
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They have a share buyback in place right? Why didn' t they activate it last week after the UOBKH " SELL" report which then obviously opened the can of worms, i.e. the open letter in BT and then BT' s Anita Gabriel' s piece on Rex... Now one week later they respond? Jokers lah... It' s undervalued for a reason. Sometimes if something is cheap, doesn' t mean you have to buy it!
ysh2006 ( Date: 26-Mar-2023 13:44) Posted:
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Very successful in raising money and spending money - pity they left out the " making money" part... haha!
FrancisLim ( Date: 26-Mar-2023 12:38) Posted:
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Company boss reply said less than 3% investment don't meed announcement lah, CEO think Rex is under balue might do something soon ?
May go go 5 cent in 2019
If can?t hold, May end up suspended
If can?t hold, May end up suspended
Management doing something alrdy.. clarification at this point of time is very much appreciated. But how wil the market react? I somehow think UOBHK wants to buy low and hence issued the sell call. Isn?t it always the case with trading houses ANAL ysts???
Do a search and these are the IPO and private placements, excluding placing for strategic investments.
Bond issuance June 2021 US58 million
Excluding shares issued for strategic investments.
Co was very successful in its IPO and prrivate placements.
| 6-Nov-13 | Placement 70millon at0.755 | 70000000 | 0.755 | 52,850,000 |
| 17-Sep-14 | Placement 168million 0.57 | 168000000 | 0.57 | 95,760,000 |
| 31-Jul-13 | ipo | 142500000 | 0.5 | 71,250,000 |
| sgd |
219,860,000 |
Bond issuance June 2021 US58 million
Excluding shares issued for strategic investments.
Co was very successful in its IPO and prrivate placements.
REPLY TO OPEN LETTER PUBLISHED IN THE BUSINESS TIMES
https://links.sgx.com/1.0.0/corporate-announcements/7Q0V6FQ567FKMEVD/751010_20230326_RIH_ReplyOpenLetterinBT_Final.pdf
Heard that company very upset and want to meet with analysts this week. Maybe they want to meet with UOBKH analyst to see if they can change their mind from Buy to Sell call? Haha... how to when the optics on all the crap that they' ve done is so bad? And why meet with analysts when they can ask BT for a meeting and be interviewed to defend all their actions? Better to be in a public forum instead of hiding like scared little bitches right?
Can minority shareholders join together to demand a change of CEO and management???
moneynoenough ( Date: 25-Mar-2023 19:08) Posted:
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I might be wronged. But it look like the management aim is to run the company to the ground.
At least all their actions point toward this direction.
At least all their actions point toward this direction.