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1. This company we shared previously that they have one and only way to reduce their debt is to do right issue. This is a must because of their debt is too high. Today news released on the afternoon. Open market on 2.30pm, it experience a free fall towards new low 0.37 and closing rebounded towards 0.415.
2. Most of the investors or traders will never like a company to take money from them. In future might be good for SAPNRG. This company require at least two to three years to recover. Many expecting they can recover easily with many contracts awarded. However, they doesn't understand how a business works.
3. Even if the oil price reach towards 100USD per barrel. All the oil and gas compant still require time to recover. Some of the oil and gas company might not even recover because they lack of contracts on hand. Previously UMWOG or now named as Velesto also did a right issue to reduce their heavy debt.
4. Throughout the whole year, this company having ups and down nonstop. It dropped into penny stock category. As a result, many operators or syndicate love to use this company to operate because highly liquidity. I'm sure that many of the people outside there stuck in this company because they buy without knowing what they are doing. People say oil price sky rocket so they go follow the hottest oil and gas stock in the market. In the end facing huge loss if they are not enough discipline.
5. A kind reminder to those who have this. For the time being its a proposal only. When things are confirm, you have two choice only. Subscribe the right issue and wait for at least one or two years. If not you need to cut loss. Basically stock market is a high risk game. It wipe off people who doesn't know what they are doing and treating stock market as casino. We always advice that do not involve in place that everyone talking about it. Previously like Hengyuan is a good example.
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