Did you read, the article in the Star, on Reach Energy Bhd, entitled Dream within Reach.
Yes, Ti Lin Say is once again the writer, a nd in the article, so much is written on how many exploration companies Singapore has, compared to Malaysia.
But have you ever asked your self, if this asset in KHAZAKSTAN is so damn good, why is it the Hong Kong Listed MIE Holdings wants to sell this KHAZAKSTAN asset in a hurry?
If MIE does manage to sell this asset in KHAZAKSTAN, the company will suffer a LOSS of US$83.8 MILLION .
Yet MIE, is more than HAPPY to GET rid of the Khazakh asset. The answer lies perhaps by the Hong Kong company's own admission , that the project has hit PEAK oil.
In MIEs own words : Oil production of the project in 2014 was 2.256 million barrels, with daily operation once PEAKED over 6,000 million barrels a day.
WOW so Reach Energy is NOT getting an asset that is on the UPWARD. It is BUYING an asset that is FAST falling from it PEAK oil.
Am told the STAR bosses will soon be having a CHAT with a certain "journalist".
