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Reach’s core business is the exploration, development, and sale of crude oil and petroleum products. Since 2019, the company has been in turnaround mode, and while losses have narrowed significantly, it still remained in the red in 2024.
A major shift came in 2023 when Super Racer Limited, a Hong Kong-based investor, became the controlling shareholder through a debt-to-equity swap. The board was restructured, and strategic control shifted from Malaysian operators to Hong Kong financial professionals.
Reach began repositioning itself - from a technically driven E&P operator to a financially driven energy investment platform. The focus shifted from field expansion to balance sheet repair and asset optimization.
Now, just as the turnaround seemed to be gaining traction, the company faces a new challenge: declining crude oil prices triggered by tariff pressures. This may force Reach to accelerate its repositioning - prioritizing:
• Cost containment and operational downsizing
• Asset monetization or divestment
• Strategic partnerships
• Diversification beyond upstream oil and gas
In short, Reach Energy is no longer a straightforward oil producer. For fundamental investors, unless there is high conviction in a clear catalyst or turnaround outcome, it remains a speculative and special situation play.
If not Reach, what about others? If you want to find out about investing in the Petronas group of companies, join me at this week’s podcast
..see how important is kazakstan oil to the world. Crude oil prices gained 0.56% to settle at ₹6,233 as supply concerns emerged following a drone strike on a Russian pumping station, disrupting Kazakhstan’s crude exports and potentially cutting pipeline flows by 30%.
..Bursa Malaysia Securities Berhad had vide its letter dated 18 October 2024 resolved to grant the Company a further extension of time of 6 months up to 2 April 2025 to submit its regularisation plan to the relevant regulatory authorities for approval
woww something+++ waiting for ..6 February 2024, MOE filed an appeal against the decision of the Specialized Inter-District Economic Court of Astana. On 29 February 2024, the appeal of MOE was rejected, and the decision of the Specialized Inter-District Economic Court of Astana was upheld without changes.
As of to date, EO has fully settled the aforesaid fine and state duty.
EO had also received a confirmation from the State Bailiff to terminate the enforcement proceedings and lifted all the seizures on EO's assets.
Thus the aforesaid material litigation is deemed as resolved.
