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FMR disclosed today that its stake increased from 7.29% To 8.12%. The change in is the result of a series of transactions between 5 Apr and 1 Aug.
Surely, they don't have such a long timeframe of 4 months to disclose such material info?
Dear Readers,
Be ready to let China Petrotech to run up to protude at least Sgd. 0.50 soon!!!
Its wholly-owned subsidiary, Xi?an Cenozoic Oilfield Information Engineering, has been awarded a 7-year integrated oilfield services contract. This marks their first integrated oilfield services contract in China.
The management expects this project to make a positive contribution to the group this year.
It has signed an agreement with Canada-based Liburdi Investment Limited to jointly set up a company, Liburdi Asia.
The Liburdi Group owns and provides advanced technologies such as specialized stripping technology, automated welding systems, rejuvenation heat treatments, enhanced aluminide coatings for superior oxidation and corrosion protection that are critical in upgrading and extending the service life of superalloy components. Its industry standard precision welding technologies has been deployed in critical fields of aerospace, nuclear, medical, and industrial and tube mill applications. The group can also designed and build industrial welding systems for applications in fields such as oil and gas production platforms, gas pipelines, power generation, ship building, medical, electronics, automotive and aerospace.
The Company will focus on providing these state-of-theart technologies and services to the oil and gas industry in the areas like production platforms and oil and gas pipelines. In addition, the Company will also be engaged in project management of petrochemical-related projects in China and other parts of Asia, including but not limited to projects from China National Petroleum Corporation (CNPC), China Petrochemical Corporation (CPC) and China National Offshore Oil Corporation (CNOOC).
The set up of the Company is expected to be completed by the end of June 2007.
Thanks Allan for your view. Yes, need confirmation but at 0.625 is 8 bids from 0.585. hmmm, a bit long. Am afraid those who bought at below 0.585 may start to take profit causing downward reversal.
In Jul 06, UTAC also reversed at double bottom at 0.67 cents and go up as high as 0.78. Since then it has reversed downwards ..... now at 0.72. ...
Juz a view point. Vested at 0.585.
My reading is that the double bottom formation can be confirmed if the price goes above $0.625. When that happens, it has a potential to go up to $0.695.
Currently, the counter is still consolidating within a downward wedge formation. The down trend resistance line will be broken when the price goes above $0.61. Can consider entry at that price level.
Purely technical view for discussion and reference only. Not vested.
I think each of us must be able to back up (state sources unless it is insider info) the source of info if it is a statement of fact. If it is personal opinion, pse say so too.
We are being overloaded everyday with info. We need reliable info and not rumours. If one can openly state certain facts"" that are not easily available - where then is the "secret"
My point if each of us ought to be responsible for views / facts presented so that members are not misled. So, there is nothing wrong nor rude by asking members to quote the source.
Hi elizlow,
It was firmer after winning three new oilfield logging service deals in China, bringing to nine its total logging service deals, dealers said. Each deal is expected to generate 3-5 mln yuan in revenue a month, depending on the complexity of the oil exploration wells, China Petrotech said.
Oil prices are still weak. I think avoid for now.
closed at 605. as observed.. there is a slight increasing buying in.
Hi savvysamyeo,
Jus check, jun 06 high vol. at 60/62. but in jan06 50/52??