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Agreed. Recently, both Rex and RHP seem to have delinked (to some extent) from the oil price movement pointing to a general wait-and-see sentiment till H1 results coming out. It' s interesting on Rex just gave an operation update rather than a profit guidance. Is it good or not good?
ahberngh ( Date: 10-Aug-2022 09:13) Posted:
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Time to move up......
My gut feeling tells me that they are in no hurry to pump a lot because their reserves are
running low. Their exploration program is not doing well, so have to rely on buyng mature
wells which others want to get rid of. But in my opinion, that is not the way to go for a vibrant
company especially when you claim to have superior technology to locate oil.
Anyway, for the moment, I will give them the benefit of the doubt and see what happens in the
next one or two quarters.
Waiting for Rex and RHP to announce 2Q results and compare.
Just my opinion, I may be wrong. Please dyodd.
running low. Their exploration program is not doing well, so have to rely on buyng mature
wells which others want to get rid of. But in my opinion, that is not the way to go for a vibrant
company especially when you claim to have superior technology to locate oil.
Anyway, for the moment, I will give them the benefit of the doubt and see what happens in the
next one or two quarters.
Waiting for Rex and RHP to announce 2Q results and compare.
Just my opinion, I may be wrong. Please dyodd.
yup hand up for the div part. And they lost some die hard SH.
need to do something about it.
need to do something about it.
lailai ( Date: 10-Aug-2022 08:18) Posted:
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Tink wat u say is rt. Tink they spacing their production, wat they don pump out in 1H, they can do 2H.
Tink they alrdy profit enough for 1H liao, prof likely better than the las.
Onli their div got to improve lah, las 2H 0.5c out of FY eps of 7cents was the joke of the year.
Hope they don make a bigger joke this coming 1H result.
Tink they alrdy profit enough for 1H liao, prof likely better than the las.
Onli their div got to improve lah, las 2H 0.5c out of FY eps of 7cents was the joke of the year.
Hope they don make a bigger joke this coming 1H result.
ssw518 ( Date: 10-Aug-2022 08:00) Posted:
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RHP also be affected by oil price la bro
Look at last 2 weeks both px, also trending with oil px, any much diff?
Was expecting rhp to run ahead in px but it didn' t.
Maint. / change of parts is necessary in all production, i prefer it plan ahead
and made know, it also mean parts should be ready when schedule hit.
Some may argue, now px good better go max till overhual, but such move
potentially create major overhual.
i am good with this update for now, jus join his boat tho.
huat ah
dyodd hor.
Look at last 2 weeks both px, also trending with oil px, any much diff?
Was expecting rhp to run ahead in px but it didn' t.
Maint. / change of parts is necessary in all production, i prefer it plan ahead
and made know, it also mean parts should be ready when schedule hit.
Some may argue, now px good better go max till overhual, but such move
potentially create major overhual.
i am good with this update for now, jus join his boat tho.
huat ah
dyodd hor.
ahberngh ( Date: 09-Aug-2022 12:29) Posted:
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Seen like now is good price to move to rh petrogas. Price is cheap now and less problem compared to this. Good bye rex...
ahberngh ( Date: 09-Aug-2022 12:29) Posted:
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Looks like problem not ended yet.
Possibly need to replace the ESP, another few months stoppage?
They never say how serious this ESP problem is.
Sian, if need to replace, by the time resume production, oil down to $50???
I need to seriously consider whether to further significantly move my stake to RHP.
Just my personal opinion, please dyodd.
Possibly need to replace the ESP, another few months stoppage?
They never say how serious this ESP problem is.
Sian, if need to replace, by the time resume production, oil down to $50???
I need to seriously consider whether to further significantly move my stake to RHP.
Just my personal opinion, please dyodd.
ssw518 ( Date: 09-Aug-2022 09:57) Posted:
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The flowline has been replaced and production in the Yumna Field resumed on 5 August 2022. The start-up of production is being monitored and further updates on production will be given in due course.
The change-outs of the floating storage tanker and Mobile Offshore Production Unit (MOPU) were necessary and these will serve until the end of Yumna Field&rsquo s life. Notwithstanding regular maintenance, the operational issues caused by the faulty Electric Submersible Pump (ESP) and flowline were unforeseen and unfortunately, extended the production stoppage time as MOL needed to first to identify the problems and then rectify them after procuring the required replacement parts, equipment and crew, on top of dealing with inclement weather and managing safety concerns and around rigid installation procedure
The ESP inside the Yumna Field which had an operation issue continues to be closely monitored. Further review of the ESP performance will be done, and a replacement would be considered in conjunction with the upcoming drilling campaign in October/November 2022
A rig has been contracted for the drilling campaign (development/exploration wells) to be conducted in October/November 2022 when the monsoon season is over.
MOL is the Operator and holds a 100 per cent interest in Block 50 Oman.&rdquo The Group also refers to the press release dated 8 August 2022 by its 91.65 per cent subsidiary, Lime Petroleum AS, which announced the following: &ldquo Lime Petroleum AS (&ldquo LPA&rdquo ) today announced that oil production in July 2022 from the Brage Field in Norway, net to LPA, amounted to 2,999 barrels of oil equivalent per day (boepd). LPA holds a 33.8434 per cent interest in the Brage Field. The operator of the Brage Field is Wintershall Dea Norge AS.&rdquo
The change-outs of the floating storage tanker and Mobile Offshore Production Unit (MOPU) were necessary and these will serve until the end of Yumna Field&rsquo s life. Notwithstanding regular maintenance, the operational issues caused by the faulty Electric Submersible Pump (ESP) and flowline were unforeseen and unfortunately, extended the production stoppage time as MOL needed to first to identify the problems and then rectify them after procuring the required replacement parts, equipment and crew, on top of dealing with inclement weather and managing safety concerns and around rigid installation procedure
The ESP inside the Yumna Field which had an operation issue continues to be closely monitored. Further review of the ESP performance will be done, and a replacement would be considered in conjunction with the upcoming drilling campaign in October/November 2022
A rig has been contracted for the drilling campaign (development/exploration wells) to be conducted in October/November 2022 when the monsoon season is over.
MOL is the Operator and holds a 100 per cent interest in Block 50 Oman.&rdquo The Group also refers to the press release dated 8 August 2022 by its 91.65 per cent subsidiary, Lime Petroleum AS, which announced the following: &ldquo Lime Petroleum AS (&ldquo LPA&rdquo ) today announced that oil production in July 2022 from the Brage Field in Norway, net to LPA, amounted to 2,999 barrels of oil equivalent per day (boepd). LPA holds a 33.8434 per cent interest in the Brage Field. The operator of the Brage Field is Wintershall Dea Norge AS.&rdquo
ysh2006 ( Date: 08-Aug-2022 19:46) Posted:
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Very speculative volatile stock but in time frame 2 years this is a multi bagger confirm plus chop at Brent crude oil $70 above
Rex announced production update today on it three field....see BB reaction tomorrow
I think 24c is okay to start buying some. T-Rex is dinosaur it can grow bigger from here
Oil drops with dollar on recession fears Wall Street ends mixed...Crude oil prices drop on Thursday, August 4, to levels last seen before Russia's invasion of Ukraine. On Wall Street, gains for high-growth stocks are offset by the drag from energy shares
☆ 》 OTTAWA, Canada ? Crude oil sank with Treasury yields and the dollar on Thursday, August 4, as recession worries intensified following the Bank of England?s warning of a drawn-out downturn and ahead of a hotly anticipated US employment report on Friday, August 5.
☆ 》 OTTAWA, Canada ? Crude oil sank with Treasury yields and the dollar on Thursday, August 4, as recession worries intensified following the Bank of England?s warning of a drawn-out downturn and ahead of a hotly anticipated US employment report on Friday, August 5.
Brent usd108
Rex floating up slowly..
And btw i dont see much unity here lately as some longist may hv tyrned short and worse trying to entice others. Imo thats unprofessional hving to go to this state of desperation. Wkend already time to tune back to the right channel. Or go read one of my fav book since college days. BEWARE THE NAKED MAN WHO OFFERS U HIS SHIRT. Then u decided if it applies here or not. Pls think of the big picture. Dyodd. Cheers
If im rex mgtmt i wont be bothered to entertain ppl who claimed to be investors be it retail or not worse is some may even hv short positions with ulterior motives to gain from their cynical acts. If really own any shares its better to go raise issue to sgx instead. Dyodd. Be careful wat u wish for. TGIF. Happy hr starting soon... Cheers 🍻
With the possible resume of Yumna Production this weekend or begining of next week I would like to sum up the lesson learnt to REX Management and the voices of retails investors on the ground. Let' s put the issue behind and move on stronger from here....
1. Be timely, transparent and proactive in responding enquiry and providing info. Especially IR.
2. To implement cost savings measures to recoup the lost of revenue due to the prolong stopage of Yumna field more than 40 days. (With the proposals made in the forum if deemed neccessary and adequate)
3. To institutionalize a process to have postmortem investigation report for all production stopage more than 3 days.
4. To stop providing monthly production report and to replace with Quaterly Business Update and Review.
5. To provide positive or negative profit guidance if the result is deemed to do so as per other mainboard listed company does.
6. To issue result announcement notification as per other mainboard listed company does.
7. To issue special dividen based on the 1H22 result. Since no share buy back then re-distribute cash to investor.
Let' s hope to strike a good producing field at Khufai/BLK50 and Rhu-Ara & Diwangsa.
By the way pls proceed to submit the oil field bidding of Indonesia that announce recently.
REX Retails Investor United.
1. Be timely, transparent and proactive in responding enquiry and providing info. Especially IR.
2. To implement cost savings measures to recoup the lost of revenue due to the prolong stopage of Yumna field more than 40 days. (With the proposals made in the forum if deemed neccessary and adequate)
3. To institutionalize a process to have postmortem investigation report for all production stopage more than 3 days.
4. To stop providing monthly production report and to replace with Quaterly Business Update and Review.
5. To provide positive or negative profit guidance if the result is deemed to do so as per other mainboard listed company does.
6. To issue result announcement notification as per other mainboard listed company does.
7. To issue special dividen based on the 1H22 result. Since no share buy back then re-distribute cash to investor.
Let' s hope to strike a good producing field at Khufai/BLK50 and Rhu-Ara & Diwangsa.
By the way pls proceed to submit the oil field bidding of Indonesia that announce recently.
REX Retails Investor United.
Las yr eps 7c when Br ave 67 or so, now selling only 23, where to get oil stock so cheap. Brent has been > 100 for las 5 months or so liao.
Slow management ok lah, as long as not slow cooking like s-chip. They must be vely ok make 7c eps when Br ave 67. Result next month.
Slow management ok lah, as long as not slow cooking like s-chip. They must be vely ok make 7c eps when Br ave 67. Result next month.
Let them be. Rex style is liddat one. When all the gd news come the herd will come rushing in. Dont bother with shorty. Mkt very thin now hard for them to cover back let them pay the interest n daily operation costs they will hv to vomit out when tide turns. Cheers.
In the meantime got money to make out there my ringgit pop champagne agn soon...hibiscus huat ah! 😄
Jeff currie report in cnbc ytd said energy stks commodities...very undervalued now. Dyodd hor...😜
In the meantime got money to make out there my ringgit pop champagne agn soon...hibiscus huat ah! 😄
Jeff currie report in cnbc ytd said energy stks commodities...very undervalued now. Dyodd hor...😜
Those holding long term (like me), be careful and consider carefully beofre taking
any drastic action.
No doubt Rex is having some issues currently, and management seems to be somewhat slow
in taking action. But the Rex story is still intact, in my opinion and from what I can see, many people
are encouraging to abandon ship, even at a loss. What are their motives?
At the end of the day, it is wise to do your own assessment.
I have converted some of my Rex to RH Petrogas as a hedge, but the bulk of my Rex is still intact,
and it will remain intact.
Just my opinion, no offence to anyone, please dyodd.
any drastic action.
No doubt Rex is having some issues currently, and management seems to be somewhat slow
in taking action. But the Rex story is still intact, in my opinion and from what I can see, many people
are encouraging to abandon ship, even at a loss. What are their motives?
At the end of the day, it is wise to do your own assessment.
I have converted some of my Rex to RH Petrogas as a hedge, but the bulk of my Rex is still intact,
and it will remain intact.
Just my opinion, no offence to anyone, please dyodd.