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actually a lot invest in this counter without understand their nature. velesto doesn't own any oil field. they r providing drilling services . production cut means revenue lesser.
Omg, drilling is a service to make a well for oil production company. The only risk to oil drilling is oil production cut their capital expenditure after the oil price plunges, if cut capex, oil drilling stop, velesto impact alot, but if oil price up, a good news to velesto to make more well, production cut is nothing to do with velesto, more drilling as long as high capex to prepare for more earning or production for future. U go check drilling stock and oil price, highly related.
Don't compare US oil counter, they are not restricted with opec regulation. US oil rigs from 300 down to 200++ recently. WTI crude price increase to 39. Of course they starting to drill more from now on.
Look like u have problem in reading skill, current prospect was written before quarter report, and the brent oil at the moment they typed was below 30usd, so they made the justification about oil company reduced capex was indeed correct, but now is 42usd, bro, u google search brent oil, still below 30usd?
And lower demand on oil justification was based on march look april or april look beginning of may, but now economy opening most countries, even u also pump more petrol now. The ink is dry, the past is already written.
What's the Brent oil price doing with velesto? (Yes, indeed impact velesto, oil up, oil company increase capex for drilling job, good impact to velesto) .It's production cut which means velesto also get less job from Petronas. (Production cut impact alot to oil production company, only bad impact on drilling like velesto if oil production company reduce capex), this is what i want to say u dont know this field.
Don't compare US oil counter, they are not restricted with opec regulation. US oil rigs from 300 down to 200++ recently. WTI crude price increase to 39. Of course they starting to drill more from now on.
Yes, but their oil price wti up, same as brent oil up. I want to bring it up a point, oil up, capex up, drilling up. Thats all.
Between 2006 to 2013, upstream oil and gas production company spent more than 3.1 trillion usd in capex for exploration and drilling projects, only 2014 decreasing, because oil price drop. History repeats.
All of u can use ukoil chart compare to other drilling stock which listed more than ten years. Bcoz velesto listed around 2014, is the worst of oil price era, so cant do comparison.
For now, Petronas announce reduce capex, opec implement production cut. Of course future be better. Short term can goreng. Long term not so optimistic, may be next year or vaccine come out.
Siew ming wong. Nvm la , i think they want to buy velesto one,just that now money all stuck in glove sector . so they giving negative comment here , if not Tuesday limit up how they buy o ...hahahha
Normally, people won’t waste time comment on the stock that they don’t like. if they are giving negative comment here so means that they are very interested in this stock ...
It is good to have discussion, debate, different opinion. No harm to accept or reject each others' view. The more we discuss, the higher probabilities we achieve. Mindfully, we are here to make profit. Not to see who wins.
I dont have any share in velesto, just pass by and read comments from you all about this company. Lets read and analysed positive and negative comments, anyhow no body force you to buy of sell.