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KUALA LUMPUR: Reach Energy Bhd rose almost 9% in early trade Wednesday, after the company secured production contracts for North Kariman, Yessen fields in Kazakhstan.
KUALA LUMPUR: JF Apex Research expects Scomi Energy Services Bhd, Scomi Group, Marine & General Bhd, Mudajaya Group Bhd and ATTA Global Group Bhd to be among the stocks to watch on Wednesday.
KUALA LUMPUR: Reach Energy Bhd’s unit in Kazakhstan, Emir-Oil has successfully obtained production contracts for North Kariman and Yessen fields, in the onshore of Emir Oil’s concession block in Kazakhstan.
KUALA LUMPUR: Widad Group Bhd, Menang Corp (M) Bhd, Revenue Group Bhd, Reach Energy Bhd and Ranhill Holdings Bhd are among the stocks to watch on Thursday, according to JF Apex Research.
KUALA LUMPUR: UOB Kay Hian Malaysia Research expects upstream oil producers Hibiscus Petroleum Bhd, Reach Energy Bhd and Sapura Energy Bhd to be direct beneficiaries from the disruption in the oil supply after the drone attacks on Saudi Arabia’s oil facilities.
KUALA LUMPUR: UOB Kay Hian Malaysia Research expects upstream oil producers Hibiscus Petroleum, Reach Energy and Sapura Energy to be direct beneficiaries from the disruption in the oil supply after the drone attacks on Saudi Arabia's oil
PETALING JAYA: Reach Energy Bhd is looking to acquire the remaining 40% of the Emir-Oil Concession it does not own from its vendor, MIE Holdings Corp, for some US$40mil (RM168mil) at a valuation of US$1.13 per barrel, which, according to sources, is a lot cheaper than the US$154.9mil (RM651mil) or US$3.28 per barrel it had paid for its original 60% stake back in 2016.
KUALA LUMPUR: Shahul Hamid Mohd Ismail, the managing director and chief executive officer of Reach Energy Bhd, sold another big block of shares in the company in an off-market transaction.
With oil prices recovering to the US$70 level from its 2018 low of US$51.49 last December, the much besieged oil and gas (O&G) sector has come back to life. The first two months of the year saw renewed vigour for O&G stocks.