LAGGER – DNEX (4456)
Dnex is an ICT company but recently they venture into oil and gas UPSTREAM business. Which is same business with Reach Energy (5256) & Hibiscus Petroleum (5199) which the share price very hot this two weeks.
Let’s see the chart below for the three companies.
Hibiscs chart is in uptrend and break high very soon.
Reach energy rise more than 70% from the bottom.
Dnex is the lagger!!! Just move sideway , while another two peers running fast.
Dnex acquire 30% of share in Ping petroleum. Which Ping petroleum in joint-venture with Hibiscs (Mention in the article below).
In 3rd September 2018, Ping petroleum ready to make more 4750 barrels of oil per day. Which the production just start and not yet reflect in the quarterly result yet.
Dnex making good money in ICT business and existing oil business with a PE ratio now about 11times. The PE ratio still did not include the additional production of 4750 barrels per days from Ping petroleum. Will the result be very good soon? Will Dnex follow Reach and Hibiscus trend? Let’s think together.