Rex Intl
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Now Nav abv 20cts last time before even pumping any oil was trading way abv nav not so narrow leh....yum yum yum maoshanwang season opening agn.😀
Lol sgx lending pool script all rented out no more liao better use them wisely ok hahaha hard to buy back ya.
We can offer some at 60cts reluctantly hahaha
So quiet here. the worst is likely over for rex....
Congrats straits trading supporters. Patience is the virtue. Huat ah...cheers 🍻
Seems like Oil & Gas industry coming in play soon. Focus will not be the past but future.
Look at the macro, basically, EU and SR Asia needs them badly and is fuelling the uptrend,
For US, they need the oil to be down to fight the inflation and support the economy, US have
plenty of reserve data shows. US had tried to escalate poor relation with China creating
unfriendly trade relation putting oil px low.
Still we see that Energy px still remain strong due to strength of Mother nature
with heatwave / expected colder and longer winter.
Another part is Russia Ukrine War which looks like going to last longer, ppl in russia leading
a back to normal life even war continue, so call new norm in russia.I hope the war ends now,
as it will create a huge demand on oil & gas, Russia will need to build back stockpile, Ukrine
needs to rebuild damage home, US GDP to focus on trades instead of arm sales, many more
at opec current output Oil px should slowly trend up higher and higher
vested in rex, you so dyodd
Lucky to report a small profit instead of a loss of 10-20m as predicted by some people. 2nd half should be much better with most of the issues settled.
And stop chanting rhp here its not a proxy to use as comparison. The closes one if u really bother shud be hibiscus petroleum in malaysia but u hv to manage currency risk/reward imo.
So free why not go use your skillfutures credit go take up a course in basic accounting lah. Take care 👌
Oh ya one pays dividends one don't. One reports company progress constantly one reports cheap decade old stock options exercise than biz activities barely oni seen till results reporting.
Transparency has a different meaning to the dafts it seems.
If so free during this weekend I recommend a book to read. Beware the naked man who offers you his shirt.
Cheers.....
Lol finally it's all over its time to get real. How come shortly minion oni come out to talk in the middle of the nite ah haha. 2 companies of different scale if smart enough will know where to place their bets it's time to unwind the stupid R Vs R long/short stupid trade the spread is no logic nav 20 Vs nav below 10 smart investors wont do the stupid trade paying the exobitant premiums. Dyodd hahaha
Happy wkend ya
Can't agree more
Catrade ( Date: 13-Aug-2022 02:39) Posted:
| REX H12022 result is pathetic n disappointing, its EPS is only 0.37 USc compares to RH Petrogas EPS 1.48 USc. Smart Investors should consider moving to RH Petrogas which is cheaper at 21.5c compares to REX share price of 24.5c. |
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REX H12022 result is pathetic n disappointing, its EPS is only 0.37 USc compares to RH Petrogas EPS 1.48 USc. Smart Investors should consider moving to RH Petrogas which is cheaper at 21.5c compares to REX share price of 24.5c.
PRESS RELEASE
Rex reports healthy EBITDA, revenue and cash position development for 1H FY2022
&bull EBITDA of US$41.3 million in 1H FY2022
&bull Revenue of US$99.45 million, profit after tax of US$6.04 million in 1H FY2022
&bull Strong cash position with cash, cash equivalents, quoted investments totalling US$103.73 million as at 30 June 2022
SINGAPORE, 12 August 2022 &ndash Rex International Holding Limited (&ldquo Rex International Holding&rdquo , &ldquo Rex&rdquo or the &ldquo Company&rdquo , and together with its subsidiaries, the &ldquo Group&rdquo ), an oil exploration and production company, today announced its financial results for the six months ended 30 June 2022 (&ldquo 1H FY2022&rdquo ). For 1H FY2022, the Group recorded revenue of US$99.45 million, from subsidiary Masirah Oil Ltd&rsquo s share of sales of produced oil after the Oman government&rsquo s take and from Lime Petroleum AS&rsquo s share of crude oil sales from the Brage Field in Norway. This was a 31 per cent increase from revenue of US$75.76 million in the six months ended 30 June 2021 (&ldquo 1H FY2021&rdquo ). Profit after tax (&ldquo PAT&rdquo ) of US$6.04 million was recorded in 1H FY2022, as compared to a total profit after tax of US$27.72 million for 1H FY2021. Earnings before interest, taxes, depreciation and amortisation (&ldquo EBITDA&rdquo ) for 1H FY2022 was a positive US$41.3 million.
As at 30 June 2022, the Group&rsquo s cash and cash equivalents and quoted investments totalled US$103.73 million (31 December 2021: US$86.91 million) with cash and cash equivalents at US$76.47 million (31 December 2021: US$60.60 million) and quoted investments at US$27.26 million (31 December 2021: US$26.31 million).
The increase in revenue was due to inclusion of oil liftings from the Brage Field in Norway from January 2022 and an increase in the average realised oil price sold from US$62 per barrel in 1H FY2021 to US$83 per barrel in 1H FY2022 for the sale of crude oil from the Yumna Field in Oman. The increase in revenue was offset by a decrease in the volume of oil lifted and sold from the Yumna Field in 1H FY2022, due to production stoppages for the planned major change-outs and upgrades made to the production facilities from February 2022 to April 2022 and unforeseen operational issues in June 2022.
The decrease in profit after tax was mainly due to the addition of production costs in the Brage Field and continuing production costs amid production stoppages in the Yumna Field and tax expenses of US$12.83 million in 1H FY2022, mainly from an increase in deferred tax liabilities arising from the increase in oil and gas properties, as well as exploration and evaluation assets in Norway, which was partially offset by tax refunds of exploration costs incurred in Norway. In comparison, the Group recorded a tax credit of US$2.45 million in 1H FY2021 in relation to tax refunds of exploration costs incurred in Norway.
https://links.sgx.com/1.0.0/corporate-announcements/IAKHG4SN0F2N4I5A/728377_20220812_RIH_PressRelease_1HFY2022Results_Final.pdf
I think BB also worried to push, shortist all rich rich today.
lailai ( Date: 12-Aug-2022 16:49) Posted:
Brent still strong amos touchin 100, now 99.8. If not for weekend mkt sentimen,shd break upw 25.
Result be out b4 mon po, exp good result like 2H21, inspite of production delays here and there, cos oil price still hi lah. |
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Brent still strong amos touchin 100, now 99.8. If not for weekend mkt sentimen,shd break upw 25.
Result be out b4 mon po, exp good result like 2H21, inspite of production delays here and there, cos oil price still hi lah.
Dodgy Demand Data? The Oil Price Collapse Conspiracy
By Alex Kimani - Aug 07, 2022, 6:00 PM CDT
- WTI oil prices have given up nearly all their gains since Russia invaded Ukraine, falling roughly 9.5% over the course of the week amid fears oil demand is collapsing.
- Some oil pundits are now claiming that the Biden administration has been fabricating low gasoline demand data in order to drag prices lower.
- While Gasbuddy claims there was a 2% rise in gasoline demand last week, the EIA reported a 7.6% drop in demand.
WTI crude oil prices fell to their lowest point since early February on Thursday, giving up virtually all gains since Russia invaded Ukraine. WTI crude for September delivery tumbled -1.5% to close at $89.26/bbl while Brent crude for October delivery fell -2.1% to $94.71/bbl. WTI crude has lost ~9.5% over the course of the week, marking the largest one-week percentage decline since April amid growing fears that oil demand will collapse when western nations descend into a full-blown recession.
While oil producers are certainly beginning to feel the heat, it&rsquo s refiners like Valero Energy (NYSE: VLO), Marathon Petroleum Corp.(NYSE: MPC), and Phillips 66 (NYSE: PSX) who have been hardest hit by the pullback thanks to a sharp decline in their refining margins aka crack spreads.
For months, refiners have been enjoying historically high refining margins, with the profit from making a barrel of gasoil, the building block of diesel and jet kerosene, hitting a record $68.69 in June at a typical Singapore refinery. The margin later settled in the high 30s a few weeks later, a level still nearly four times higher than the $11.83 at the end of last year, and some 550% above the profit margin at the same time in 2021.
But crack spreads have now gone into full reverse: according to Refinitv data, Asian gasoline margins plunged more than 102% in July to a discount of 14 cents a barrel to Brent crude, a far cry from a premium of $38.05 a barrel they reached in June. Asian refining margins have now crashed to just 88 cents a barrel over Dubai crude, from a record $30.49 in June.
The effect: a sharp rise in inventories from the United States and Singapore to Amsterdam-Rotterdam-Antwerp.
Refiners are being forced to cut gasoline output to minimize losses and switch to producing more profitable fuels.
Indeed, Taiwan' s Formosa Petrochemical Corp. (6505.T), Asia' s top fuel exporter, is planning to reduce operating rates at its residue fluid catalytic cracking (RFCC) units by 5% in the coming weeks, with a Formosa spokesman telling Reuters that the company plans to sell more very low sulphur fuel oil (VLSFO) due to higher margins for those products.
The Big Conspiracy
The collapse in oil prices has been so epic and unexpected that some oil pundits are now accusing the Biden administration of fabricating low gas demand data in a bid to hammer oil prices.
To wit, in late June the EIA shut down reporting for several weeks, ostensibly due to a server malfunction. But as ForexLive has pointed out, gasoline demand data has been consistently bad ever since the EIA returned: " Maybe there' s an issue with reporting or maybe it' s a conspiracy" , ForexLive has declared.
Even Wall Street has begun questioning the EIA data.
Bank of America energy strategist Doug Legate has published a note titled the " fall of gasoline demand appears grossly exaggerated.&rsquo &rsquo
" For the week ending July 22nd, implied gasoline demand rebounded to 9.2 million b/d - a 1 million b/d increase vs the last two week average, and the second highest level of 2022," BofA wrote in the note to clients. Curiously, the EIA reported a steep drop in gasoline demand shortly thereafter, prompting Piper Sandler global energy strategist to label the data " crooked" , saying the methodology left &ldquo significant room for error&rdquo .
Related: What&rsquo s Really Happening With Gasoline Demand?
&ldquo We are supposed to believe that in July, in the middle of driving season we are only using 8.6 million barrels per day. That would be down half a million barrels a day from May of this year that would be below the Covid low of 2020,&rdquo Sandler noted. &ldquo So we ask all the refiners, we ask all the retailers, we ask everybody that reported earnings this season. Every single one of them tells you that their sales are not down materially from even pre-covid days. Some report record high sales,&rdquo he added.
Piper Sandler&rsquo s allegations are buttressed by U.S. refining giant Valero. Asked about falling gasoline demand at the company&rsquo s earnings call last week, CEO Gary Simmons had this to say:
" I can tell you, through our wholesale channel there is really no indication of any demand destruction... In June, we actually set sales records. We read a lot about demand destruction and mobility data showing in that range of 3% to 5% demand destruction. Again, we' re not seeing it in our system."
Further, alternate demand data from GasBuddy deviates considerably from EIA&rsquo s. GasBuddy tracks retail gasoline demand at the pumps in the U.S. According to GasBuddy, there was a 2% rise in gasoline demand last week, making it the strongest demand of the year. In sharp contrast, the EIA reported a 7.6% drop in demand for the same time period.
The Biden administration certainly is gunning for even lower fuel prices. In an interview with Bloomberg on Tuesday, Amos Hochstein, the White House&rsquo s senior adviser for global energy security, said that gas and oil prices need to go even lower while U.S. producers and OPEC+ need to raise output.
But as Adam Button, chief currency analyst at Forexlive, notes, it&rsquo s the Biden administration calling the shots now, and &ldquo at the end of the day, traders have to trade what&rsquo s in front of them&rdquo .
" Right now it' s a crude chart that' s breaking support after a major period of consolidation -- that' s not good. The calls for a recession are growing louder crude demand has a long history of following global growth. There are supply factors that will eventually be bullish -- like the SPR releases ending in October -- but that' s months away and OPEC is still adding some barrels,&rdquo he said.
By Alex Kimani for Oilprice.com
More Top Reads From Oilprice.com:
Fast forward 1 year 20k Bbls per day. Crude price above $80. Bbls the big B actually means Blue. bls is barrels. Standard Oil SO which later became ESSO guarantee in 1873 Pennsylvania accord each blue barrel will be of 159 gross litres. I do not expect blue black scenario from Rex. Dan Broström kept Rex a steady ship sailing thru the worst hurricanes and eye storms ever imaginable 🙏
Best is results come in better than anticipated thats the bonus. The chase will be fun. Firers watch your front. 😀
This stk has always been heavily shorted especially this last few mths due to the disruptions of yunma shorty committed 10s of millions of borrowed scripts whacking the px down from abv 40 to 20s in anticipation of a bad results announcement this 1h report thereby already causing the stk to px in those expectations. Some longists even sold their holdings in the hope of buying back after the report at lelong px too. Contraplayers left after getting chomped time and agn leading to the thinning out of trade volume. But the other side of this trading is that new buyers coming in to pick values, smart money accumulating plus those waiting to buy after results for the future goodness that the biz is gearing up for will gv rise to the competition for those lelong weakholders scripts that shorty is working very hard paying the costs of operation daily to acquire to cover their position to monetise their virtual gains.
Whichever side u at all the best ya. We want those lelong scripts also if they appear.
TGIF. Time of a long lunch with afew pints of icb Cheers 🍻
ssw518 ( Date: 12-Aug-2022 09:03) Posted:
lesser seller liao, wall tilting towards bull zone,
just need a small push, let the bull out, huat ah
lailai ( Date: 12-Aug-2022 08:47) Posted:
Brent few days ago 8 aug was just 93, now 99, otw to 100.
Tink wont be long b4 Rex break 26-27, result otw, see wat boss say lah.
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lesser seller liao, wall tilting towards bull zone,
just need a small push, let the bull out, huat ah
lailai ( Date: 12-Aug-2022 08:47) Posted:
Brent few days ago 8 aug was just 93, now 99, otw to 100.
Tink wont be long b4 Rex break 26-27, result otw, see wat boss say lah.
Sharetrade8888 ( Date: 11-Aug-2022 17:34) Posted:
Many seem to hv forgotten that crude price can stay in 100 AVG range for afew years in a row that just happened less than a decade ago. This time around the supply situation is even worse due to the structural and political problems that will not be solved hence making this commodity becoming more and more scarce as we go fwd into the years ahead.
Going into hurricane season and seasonal winter demand in the months ahead oil px will get even pricier perhaps starting with Brent going to 108 agn by next friday..oops! Just me guessing nia 😁
Nice evening folks. Happy HR start Liao. Cheers 🍻 |
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Brent few days ago 8 aug was just 93, now 99, otw to 100.
Tink wont be long b4 Rex break 26-27, result otw, see wat boss say lah.
Sharetrade8888 ( Date: 11-Aug-2022 17:34) Posted:
Many seem to hv forgotten that crude price can stay in 100 AVG range for afew years in a row that just happened less than a decade ago. This time around the supply situation is even worse due to the structural and political problems that will not be solved hence making this commodity becoming more and more scarce as we go fwd into the years ahead.
Going into hurricane season and seasonal winter demand in the months ahead oil px will get even pricier perhaps starting with Brent going to 108 agn by next friday..oops! Just me guessing nia 😁
Nice evening folks. Happy HR start Liao. Cheers 🍻 |
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