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Friday, 10 January 2014

Dare you to give up on KrisEnergy

The only time l have invested into KrisEnergy was in Aug’13 but l immediately got out of it when l realized it‘s wrong fit.  

Even though it is a relatively young company, established in 2009 but its geoscientists, engineers and operations specialists each have at least 20 years of experience in the upstream oil and gas industry in SEA region and have a successful track record across every facet of the exploration of production life cycle.

Also, since late 2012, Keppel Corpn has 20% interest in KrisEnergy.   Keppel is represented by both Mr Choo Chiau Beng and Mr Loh Chin Hua as KrisEnergy’s non-executive director.

It’s share price slumped to low of $0.84 today after it made an announcements within two weeks that exploration on two wells in Vietnam yielded disappointing results.
l reckon this massive price drop is totally unfair. 
One cannot simply writing off a company based on one or two exploration results.

KrisEnergy has many other wells in Indonesia, Cambodia, Bangladesh and Thailand. 
So all is not lost just because of failed projects in Vietnam.
Serious investors will look at its long term prospects rather than short term results of failed explorations.

Is it a good price to enter KrisEnergy ($0.84-$0.88) now?
l do not know.

Anyway, any further weakness from these price points will be very enticing indeed.
As for me, it still stays as a wrong fit till the day it decides to pay dividends.

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