All the brainchild of convincing O&G veteran Tan Kim Seng...
Imagine buying 30 yr old near scrap metals and pass off as growth engine without cashflows apart from heaps of toilet paper being issued in the process...
Must salute his ability... especially since it started way from Ezra and his former flagship KS Energy...
(10-10-2014, 10:46 AM)greengiraffe Wrote: All the brainchild of convincing O&G veteran Tan Kim Seng...
Imagine buying 30 yr old near scrap metals and pass off as growth engine without cashflows apart from heaps of toilet paper being issued in the process...
Must salute his ability... especially since it started way from Ezra and his former flagship KS Energy...
Odd Lots Vested
Ezra
GG
Haha good Luck GG.
IMO, Ezion - old fox running out of time to make his second bucket of gold.. Ezra - Young bankers trying to make a name out of capital markets without much knowledge in O&G.
10-10-2014, 11:19 AM (This post was last modified: 10-10-2014, 11:26 AM by ValueBeliever.)
WSJ made it very clear that why isnt oil price fall good for airline. Bear in oil and bear in end user sound very contradictory right? The oil market is the leading indicator of economic activities. No amount of supply at lower price will be able to push up economic activities.
Ezion in fact is the 1st to announce rig cancellation. When will it tumble to reflect new reality?
(10-10-2014, 11:19 AM)ValueBeliever Wrote: WSJ made it very clear that why isnt oil price fall good for airline. Bear in oil and bear in end user sound very contradictory right? The oil market is the leading indicator of economic activities. No amount of supply at lower price will be able to push up economic activities.
Ezion in fact is the 1st to announce rig cancellation. When will it tumble to reflect new reality?
In theory, what you mention is right. But problem lies underlying to Central bank efforts. These days central banks have differing views of their own economy (US up interest rate, China, europe surpressing) , this have led to big volatility movement in FX that causes a price instability. With that, Economy cant plan hence economic activities come to a halt.
If Central banks are able to bridge the currency issue, lower oil prices may actually improve economic outlook.
(10-10-2014, 11:19 AM)ValueBeliever Wrote: WSJ made it very clear that why isnt oil price fall good for airline. Bear in oil and bear in end user sound very contradictory right? The oil market is the leading indicator of economic activities. No amount of supply at lower price will be able to push up economic activities.
Ezion in fact is the 1st to announce rig cancellation. When will it tumble to reflect new reality?
Is there a link to the rig cancellation announcement? When was it?
10-10-2014, 11:35 PM (This post was last modified: 10-10-2014, 11:38 PM by Some-one.)
(10-10-2014, 12:25 PM)mulyc Wrote:
(10-10-2014, 11:19 AM)ValueBeliever Wrote: WSJ made it very clear that why isnt oil price fall good for airline. Bear in oil and bear in end user sound very contradictory right? The oil market is the leading indicator of economic activities. No amount of supply at lower price will be able to push up economic activities.
Ezion in fact is the 1st to announce rig cancellation. When will it tumble to reflect new reality?
Is there a link to the rig cancellation announcement? When was it?
I did not see any rig cancellation announcement as well...
Ezion
Ezion: Cancelled rig contract? - CS According to IHS-Petrodata, Ezion's Noah's Ark rig (service rig unit 25) is "idle in Sharjah, UAE since around mid-July 2014". It was further noted that "the accommodation contract with Maersk Oil Qatar was cancelled two weeks after the rig arrived in Qatar in April 2014", and is being marketed as an accommodation unit. Built in 1973, Noah's Ark is the oldest rig in Ezion's fleet of service rigs at 41 years. Prior to its deployment in the Middle East, the rig was upgraded at an estimated cost of US$20m. The unit was supposed to be contracted over a three-year period starting late-2013 to support an international oil company in the Arabian Gulf at a dayrate of US$44,000. Credit Suisse estimates the rig to contribute US$12.6m of EBITDA in 2015E, representing 2.8% of FY15e group EBITDA estimate. While Ezion has yet to respond to CS' queries on this piece of news, if true, this would support the house's view that the rig replacement cycle will put downward pressure on the utilisation of older assets. The house maintains its UNDERPERFORM rating and TP $1.80, due to concerns about Ezion's service rig fleet.
Ezion takes a hit; Nomura says market worries misplaced
By
R Sivanithysivan@sph.com.sg@RSivanithyBT
11 Oct5:50 AM
Singapore
SHARES in offshore oil and gas stock Ezion Holdings plunged nine cents or 5.4 per cent to S$1.575, bringing its loss over the past three weeks to almost 18 per cent and taking it closer to its 52-year low of S$1.52.
Market observers said the fall was largely because of
This is the classic Muddy Water style bear report on Ezion.
Its pointed and probably tells the hard truth.
Unfortunately I seriously doubt the analyst would have any more engagement with Ezion.
Anyway, it doesn't take anyone with a sound mind to think of vintage scraps to be of any meaningful useful working life left let alone sustained non cashflow generative style type of accounting earnings growth numbers.
Is this any different from Ezra, KS Energy and more recently Swissco?
Ezion takes a hit; Nomura says market worries misplaced
By
R Sivanithysivan@sph.com.sg@RSivanithyBT
11 Oct5:50 AM
Singapore
SHARES in offshore oil and gas stock Ezion Holdings plunged nine cents or 5.4 per cent to S$1.575, bringing its loss over the past three weeks to almost 18 per cent and taking it closer to its 52-year low of S$1.52.
Market observers said the fall was largely because of
Wa. 52 year low. Don't know older than SG. HAHAHA
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