$VELESTO (5243.MY)$ The girl said it's never too late for spring, the foolish boy stays in the real Jiangnan.

(Kuala Lumpur 2nd) Velesto Energy ( $VELESTO (5243.MY)$ ) Its Naga 8 offshore drilling platform was prematurely terminated by the customer Carigali Hess Operating Company (CHOC), and various investors expected that this would put pressure on the former's platform utilization rate and cast a shadow over the future.
After announcing good results last Friday, Velesto Energy then announced this surprisingly bad news, indicating that CHOC will stop leasing the Naga 8 platform by February 10, 2025 at the latest, and the company did not disclose the reason for the customer's decision.
In response, Galaxy International Securities analysts pointed out that the customer terminated the contract 250 days early, which is equivalent to 11% of Velesto Energy's platform workload next year.
“We think this may be because the CHOC has shortened its work schedule.”
The analyst said that in the case of the shortening of the leases mentioned above, Velesto Energy's estimated platform utilization rate for the 2025 fiscal year will drop from 63% to 52%.
“In any case, if Velesto Energy's Naga 6 platform wins a new long-term contract starting next June, the company's platform utilization rate could reach 62%. According to our investigation, PTTEP Thailand is a potential customer.”
At the same time, he said that if there is currently no contract with Naga No. 3, or Naga No. 8, which will be idle after February 10 next year...

$VELESTO (5243.MY)$ Don't we have a lot of projects? Why is the stock price not ideal? 😂

$VELESTO (5243.MY)$ single digit PE, and starting got dividend. Waiting for its glory days rm4.00 plus. Anyone bought at above rm1 plus?

$VELESTO (5243.MY)$  my prediction is Q3 result gonna drop from Q2 cos 3 rigs were under maintenance and therefore not making money for them in Q3 , but Q4 onwards shud be good. so im not buying anytime soon although its dirt cheap right now

$VELESTO (5243.MY)$ Companies can't control stock prices at all.

$VELESTO (5243.MY)$ btw guys , not to cause any panic selling, but next quarter financial prolly gonna drop at least 25 % revenue due to 3 of their rigs being in routine inspection in Q3, i think net profit also gonna hurt.

$VELESTO (5243.MY)$
https://www.upstreamonline.com/field-development/petronas-looking-to-build-on-its-thriving-business-offshore-indonesia/2-1-1727926
if velesto successfully get the contract from Petronas to carry out the service in indonesia, imagine how this share will go crazy
In my personal opinion, for the next consecutive 2 years(due to current contract), this company will continue earn money, thus current share price 0.195 is freaking cheap, buy and keep f...