Yup still holding.. reasons below

Armada Clair is worth about 20% of total earnings. Based on 4+ 4 contract. This will affect the total revenue and profit and they might have to write down the asset value. This WILL hit the financial report badly in the next Q.

However Armada Clair started first oil in August 2014, so contract already run for 1.5 years, only 2.5 years remaining. Armada has filed request for $197 million compensation from Woodside as they have an ironclad contract. The fact Woodside has already provision for cancellation of contract in 2015 annual report for $128 million means they recognize they have no way out from the contract.

The why did Woodside cancle the FPSO? Because according to their calculation the loss from continue operating the Balvanes field with be much much higher than paying compensation to Armada. The Balvanes field (which is bought from Apache in 2015), initially shows good results, but the tapering of the oil production in 4Q 2105 shows that the 2P reserves (proven reserves) is much lower as initially estimated, so they decided to axe the field and shut it down.

Exact words (taken from Woodside 2015 annual report) :



In fact that Woodside already made provision, means they intend to settle and should not be in a court case, in the end the settlement might be worth between $128 - $197 million. The final figure will be recognized as 'other income' when the negotiation is done. The impact to Armada IF Woodside settle, with negate most if not ALL the earning loss.

This post has been edited by gark: Mar 24 2016, 12:05 PM

do you think I can enter or shld wait next Q rpt

Dont touch this if you are not willing to hold until 2018 or more...

I thought so...hold after Chinese Fire element out.

Wow... steel is making a comeback, or rather trying hard to.

Only increase a bit and masteel almost doubled. Huhu...

But we wont know whether the economy and OnG sector will get any better in 2017.

Why need hold till 2018? to see the max potential in armada?

Nope .. not particular.. i expect between now and 2018, either the Arabs economy has withstand enough 'pain' or enough OnG (especially US) all close down, THEN.. oil will start to rise.

just because the Arab leader want to get more income by selling more oil and doesnt care about the world.. Imagine if got a country is rich enough to buy and

store all the oil in the world. and when all the oil field depleted then you will be instant billionaire.

if you base on brent crude oil...currently is more like a rising bias...

This post has been edited by edisoner90: Mar 24 2016, 02:24 PM

Rising is rising.. i am targeting $80 brent.. thats why will take some time..

This post has been edited by gark: Mar 24 2016, 03:30 PM

pink spider FUYOOHHH~!! Malakof also u sapu. Ganas betul ni Si Accountant!

siggy so long

Mana ada ganas

Yield play, with SOME growth potential, boleh main mar~

Considering to exit...Maybank and Chin Well. Growth seems to be muted
IGBREIT...keyed in a sell order, see can match or not...reducing a bit

Edit: IGBREIT sold another 1/4 at 1.51

If can meet 33% paper gain, gonna remove the Tek Tek

This post has been edited by Pink Spider: Mar 24 2016, 03:47 PM

Malakof now how much yield?

If want yield in power got YTL Power also mah.

Lebih kurang sama IGBREIT lor

But I think for the short term, Mala better growth potential than IGBREIT

Retail really very gloomy now~

me too..i bought also at 0.795 waiting for rising trend.

Gloomy meh.. /k just reported MV full house, got baby fair, until cannot find parking ...

He he.. we all slowly wait lah.

Got fair sure full lor...

When i first graduated.. I was offered a position in Malakoff.. that time still small small company. End up did not take up the offer.

feel worried also.. hahaha..today this counter all red..keep selling..