Mirach Energy   

Half price compared with last April

run backward

 

Run Mirach run!

 

wendel      ( Date: 14-Aug-2013 21:39) Posted: Expected this stk to cum from 0.295!!

 

Expected this stk to cum from 0.295!!

 

later, if, one big towkay comes along and scoop up in one mouthful the 30, then will be in for another big upside surprise ...

 

Must clear 32 then consider uptrend if not it will drop back.

 

Run up likely due to SIAS review


We have been paying close attention to SGX-listed E& P companies
following our previous industry report (Huge Potential in ASEANFocus
E& P Companies, 22 July 2013). After encouraging progress
in the Kampung Minyak (KM) oilfield and the availability of funds for
O& G explorations, we reckon that there is some potential upside in
Mirach Energy Limited (Mirach).

The KM oilfield is a mature block that has an estimated contingent
resource of 2.4m barrels of oil and a prospective resource of about
40.9m barrels of oil. Since October 2012, Mirach has been trying to
raise the oil production rate in the KM oilfield via three methods,
drilling new infill wells, performing work-over on existing wells and
adopting recovery techniques such as water injection into the wells.
To date, the oilfield produces about 100 barrels of oil daily and more
drilling and work-over operations are on the way. We estimate about
400 barrels of daily oil production in 2H 2014.

To ensure the quality of work done on the oilfield, Mirach appointed
Daqing Enterprise International for its projects in Indonesia. We see
these developments as positive signs on the KM oilfield and reckon
that this asset can help to generate cash flow for Mirach for future
exploration projects.

Mirach has also started with the pre-drilling Environmental Impact
Assessment in October 2012 for its 48% owned Cambodia Block D
and we believe the management will soon proceed with drilling
exploration wells in this block. Mirach has selected three spots for
exploration wells and we speculate that the first drilling will be
located close to Block A, which has strong evidence of hydrocarbon
reserve. This strategy reminds us of Ramba Energy, which adopted
the same tactic for its Lemang Block. Block D is Mirach?s prized
asset and has an estimated prospective resource of 366.8m barrels
of oil.

We value Mirach based on the assets it owns. For Cambodia Block
D, we apply a higher than usual US$2.25 valuation to each
prospective barrel of oil as the asset is located close to Block A and
seismic data has been encouraging. For KM?s prospective
resources, we applied a US$4.00 per prospective barrel of oil. We
also inserted a further 20% discount to all the assets for the risked
mean prospective valuation. We also assumed that the convertible
bond will be exercised. This set of assumptions works out to a
prospective valuation of S$0.430 per share.

Though we believe that there is some upside potential to Mirach, the
company is subjected to high exploration uncertainty, fluctuation in
energy prices, execution risks and regulatory approval delays.

 

think Mirach is not over yet

 

I think Ramba and Interra got more upside.

 

i think the market like its last Q results, somehow.

 

..buy at suppot 27 cents

.. sell at reistance 31.5 cents

 

---------------

 

Shoot up liao. 

height00      ( Date: 13-Aug-2013 23:06) Posted: Hi When everyone start losing faith that the time when price shoot up

 

Hi

When everyone start losing faith that the time when price shoot up

 

Result for 2Q13.Not so fantastic.

http://infopub.sgx.com/FileOpen/Announcement_2Q_2013_13Aug2013.ashx?App=Announcement& FileID=251943

 

bolat la, who is buying?? high gets lower everyday, keep keep keep until BBs happy la. only vested when it starts to move again, I have nothing. 

seanpent      ( Date: 07-Aug-2013 08:47) Posted: librajet sifu ..... what's happening to this ?    where is this heading now  ?    librajet      ( Date: 02-Aug-2013 17:21) Posted: bo lat la, where got buy??? BBs buying to keep, run a few bids then come down again, not yet la. When their well got more oils, it will fly, so now KEEP

 

librajet sifu ..... what's happening to this ?    where is this heading now  ?   

librajet      ( Date: 02-Aug-2013 17:21) Posted: bo lat la, where got buy??? BBs buying to keep, run a few bids then come down again, not yet la. When their well got more oils, it will fly, so now KEEP. librajet      ( Date: 02-Aug-2013 14:10) Posted: bo lat la, the high getting lower each day. BBs supporting at 30c, run when?? restriction out oredi or not??? buy to keep can la, contra?? better no

 

29bbl per well * 290 wells equals A hell lots of production.

no wonder BBs were collecting.

 

huat lah 

 

http://infopub.sgx.com/Apps?A=COW_CorporateAnnouncement_Content&B=AnnouncementToday&F=885721

 

Keep! Keep! Keep!

 

bo lat la, where got buy??? BBs buying to keep, run a few bids then come down again, not yet la. When their well got more oils, it will fly, so now KEEP.

librajet      ( Date: 02-Aug-2013 14:10) Posted: bo lat la, the high getting lower each day. BBs supporting at 30c, run when?? restriction out oredi or not??? buy to keep can la, contra?? better not bulletproofheart      ( Date: 02-Aug-2013 14:04) Posted: oh. i meant the sell queue keep topping up but yea, tt means there's buying. people should just stop wanting to sell at 305. haha. no prob bro u can take over his role. as long as all huat can alr. haha.

 

ya i agree with bro librajet, 30c support seem to b strong. can enter now to keep.. 

bro librajet, what restriction?  

librajet      ( Date: 02-Aug-2013 14:10) Posted: bo lat la, the high getting lower each day. BBs supporting at 30c, run when?? restriction out oredi or not??? buy to keep can la, contra?? better not bulletproofheart      ( Date: 02-Aug-2013 14:04) Posted: oh. i meant the sell queue keep topping up but yea, tt means there's buying. people should just stop wanting to sell at 305. haha. no prob bro u can take over his role. as long as all huat can alr. haha.