2H09 Likely To Award Contracts To Oil And Gas Support Services

Oil and gas related stocks are likely to benefit from Petroliam Nasional Bhd (Petronas) president and chief executive officer Tan Sri Mohd Hassan Marican's statement on June 8 that global energy need is expected to more than double in 2030 from today's level.

"The current slump in demand and contraction in oil prices will not slow down the exploration and production development spending by international oil majors, as continuous effort is needed to meet future global energy demand," he said at the 14th Annual Asia Oil and Gas conference here.

Analysts have also maintained that oil and gas support services providers — including

Alam Maritim Resources Bhd,
KNM Group Bhd,
Wah Seong Corporation Bhd,
Saag Consolidated (M) Bhd and
Kencana Petroleum Bhd

will be among the beneficiaries in 2H09 with Petronas and other oil majors likely to award contracts. By end of the year oil prices will be likely around USD 76.

I think KNM and SAAG will likely to benefit due to foreign fund is investing in this two share, now both share is about to due for correction so the oppercunity to buy in is during the correction till the support line. Due to US Dollar is about to bounds up I think share market will drop any time soon.

I had sold out my
KNM share at RM1.07 with early I buy this share at RM0.99 (Profit 8%) and also my
AMMB-CD at RM0.190 with I buy in at RM0.155 (Profit 22.5%)

Luckly still can make so profit in this bull run.

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My investment with RM5,000 initial capital have been growing since 2005.I found the stock market appears confusing and complicated, but it is most definitely based on logic "supply and demand". However, the laws of supply and demand as observed in the markets do not behave as one would expect. To be an effective trader, there is a great need to understand how supply and demand can be interpreted under different market conditions and how to take advantage of this Off Market Transactions in KLSE.

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1 comments:

Elvis2020 June 9, 2009 at 5:29 PM: Currently the price of crude oil almost reach USD70 per barrel. This may be due to speculative play as demand has contracted. The price of oil may keep going up but i have doubt that down steam activities will pick up soon. This is because if speculative play fizzle out then oil&gas related companies will suffer double blown of losses.It's too early to call that economy is booming. It's always better and wise to wait and see at this junction. We may buy stocks at this moment just to chase 10 cents profit but end up with 50 cents losses. Better to wait for the waves to calm down.

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