Date Price No. of shares Interest 
25-Jan-2017 8.6 c 2 m 82,275,000
(16.58%)
17-Jan-2017 8.4 c 2 m
12-Jan-2017 8.5 c 2 m

With its new oil production business heading towards its first revenue, GSS Energy CEO has been stepping up his share purchases in the past two weeks.

sydneyyeung8.16CEO Sydney Yeung plans to spin-off GSS Energy's precision engineering business.
NextInsight file photo.
Sydney Yeung, through his vehicle Roots Capital Asia, has bought 2 million shares each time on three ocassions, raising his stake in the company to 82.3 million shares (see table).

As has been previously reported, GSS Energy and its JV partner secured a contract in Oct 2016 directly from Pertamina, the national oil company of Indonesia.  

The contract confers rights to produce oil from a 47.61 sq km field in the Trembul area in Central Java. First oil is expected in 1H2017.

Its cost of production is estimated at only US$12 per barrel, as the field was producing until it was abandoned during World War 2.

GSS Energy stock closed at 8.6 cents yesterday for a trailing PE of 6 and a market cap of S$43 million. The valuation clearly reflects the precision engineering business of GSS Energy and has yet to capture the potential value of the oil production business. 

And the current PE would be just 4.1 on an ex-cash basis, given that GSS Energy had S$14.3 million net cash as of end-Sept 2016.


Comments  

+2 #2 Bill yap 2017-02-06 09:27
Update latest stock picks
Quote
+1 #1 Chan k k 2017-01-31 15:51
If PE 4.1 Spot price 10.4c what is the theoretical share price ?.....What is it IPO price ?...
Quote

Share Prices

Counter NameLastChange
AEM Holdings1.210-0.030
Alliance Mineral0.179-0.002
Anchor Resources0.021-
AusGroup0.028-
Avi-Tech Electronics0.285-0.005
Best World Int.2.390-0.050
China Sunsine1.190-0.010
CSE Global0.5450.005
Food Empire0.550-0.010
Geo Energy0.185-0.001
Golden Energy0.235-
GSS Energy0.101-0.001
HMI0.535-
ISDN Holdings0.235-0.005
KSH Holdings0.510-
Miyoshi0.045-
Moya Asia0.079-0.001
Nordic Group0.325-0.005
Oxley Holdings0.315-0.005
REX International0.078-0.003
Riverstone1.100-
Roxy-Pacific0.400-
Sing Holdings0.3950.005
SingMedical0.445-0.010
Sino Grandness0.0530.010
Straco Corp.0.790-
Sunningdale Tech1.350-0.010
Sunpower Group0.570-0.010
The Trendlines0.086-0.003
Tiong Seng0.2200.005
Uni-Asia Group1.200-0.020
XMH Holdings0.200-
Yangzijiang Shipbldg1.480-0.030

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 3648 guests and no members online