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I wont consider this as fly yet :) My personal definition of fly will be when its higher than 2018 high :) First thing first - revenue recognitions followed by profit numbers.
Manage your positions well as Wasco continues to bid for projects; converting tenderbook to orderbook. Orderbook is currently at ~3.5bil and still counting :)
Qatar's North Field Expansion and Bahrain's plan to boost natural gas production provides opportunity for Wasco to participate in the two nation's activities that stretches beyond 2025; as and when job tenders are open for bidding.
Wasco's EPC Contract bid for Tatweer Petroleum's Bahrain Oil Field Associated Gas Compression Stations Project Phase 7 is one of the 6 bidders accepted and currently being evaluated. The EPC contract award is expected to be announced in Q2'23. Estimated to be USD$200M. Not an easy task as Wasco will be competing with familiar names that worked with Tatweer Petroleum in prior phases/projects :)
The above link contains information about Wasco :) For shareholders that are wondering what is Waseong's core competence. Wasco Energy and its group of companies are pretty well known out there in the world :)
Congratulation long term shareholders and welcome new shareholders :) Its a worthwhile wait as it enters the growth phase. This is where we hope market will be efficient in the near future; to reflect its value :) Waiting patiently.
slowly but surely, syahmi hana. Congrats and manage it well. first is to recover to pre-pandemic level. thereafter, present value of its future income streams :)
Looking forward to it's FY2023 and FY2024. most of the revenue recognitions and growth will most likely be coming from Africa, Gulf of Mexico, Middle East. EACOP contributed approx RM280M in FY2022 while the project is valued at RM1.2bil targeted to complete by 2024 :)
okay, Yinson's report showing growth in its epcic segment. once again, a reiteration of increasing deep water offshore O&G activities; which is positive for Wasco :) Wasco received an EPC contract from Yinson for some of its topside modules.
It's a worthwhile wait & I am holding Wasco for the longer term until it reaches where it should be, Syahmi Hana. I am in the opinion that Wasco is in the position to benefit from the increasing deep water offshore activities particularly in the Africa, Gulf of Mexico and Middle East. EACOP for Africa is in the bag, Qatar NFEs and Bahrain's energy programs, and Bayou Wasco Insulation restarted mid of last year at the wake of increasing deep sea flow assurance activities for US/Gulf of Mexico.
Congrats to all long term shareholders. Almost there and I have rebalanced my position in Wasco; zero cost if you will. This will be my last sharing in Wasco :)