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See O&G revenue trend... this quarter is always the weakest as there is monsoon impact..... if this quarter is profitable and better than last year, then very good results......
Good news that Uzma terminate RSC JV.... they will get Capital reimbursement from Petronas, hopefully it will be dividend.... same like other previously terminated RSC...
bro the reimbursement from petronas is for capital and operating expenditure only. means they have lost another source of income.in other words this is not a good news.
furthermore dont expect so much on dividend since their last paid div is in 2014...we would be lucky enough if the stock price dun limit down after buy in...
Tg Baram Small Field Risk Service Contract (SFRSC) operated by Enquest and UZMA as partnership. The production from this field to West Lutong had been up and down since 2019. The production ceased since Q4 2019 and relinquished in Q1 2020. The production annualised is not that significant, circa 300b/d only. Last production before cessation around <100b/d. There is nothing so innovative, it is just wellhead platform FWS to West Lutong.
With the termination of the Tg Baram Small Field Risk Service Contract (RSC) with Petronas as it achieved economic cut-off during the 2Q and 3Q of 2019, Uzma is expected to get c. USD22m reimbursement from Petronas for the capex and opex spent on the field. It is understood that the borrowings in relation to the contract is USD13m which will be settled in 3 quarters with the final in February 2021. With this settlement, Uzma is expected to improve its gearing from 1.0x to 0.8x.
