Reflections on Volume

Big volume without further upside equals distribution
Big volume without further downside equals accumulation

Volume tends to peak at turning points
Volume often precedes price movement
Volume is a relative study

Wednesday, November 2, 2011

SapuraCrest wins RM4.37 billion Petrobras job

PETALING JAYA (Nov 1, 2011): SapuraCrest Petroleum Bhd has won a US$1.4 billion (RM4.37 billion) contract from Petróleo Brasileiro S.A. (Petrobras) to build, charter and operate three deepwater flexible pipe-lay support vessels (PLSV) for the Brazilian national oil company.
"This contract is a significant milestone as it marks our entry into the vast, dynamic yet technologically challenging oil and gas market in Brazil,'' executive vice-chairman and president Datuk Seri Shahril Shamsuddin said in a press statement today.
Under the award, SapuraCrest's wholly-owned unit TL Offshore Sdn Bhd (TLO) is to construct and charter the three PLSVs to Petrobras.
"Revenue from the award is expected to be generated by the fourth quarter of 2014,'' SapuraCrest said in a separate statement to Bursa Malaysia.

"The award will have no effect on the issued and paid-up share capital of the company and is expected to contribute positively to the group's net assets and earnings for the financial year ending Jan 31, 2015 and beyond,'' it added.

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