Stock Name: DIALOG
Company Name: DIALOG GROUP BHD
Research House: CIMB
KUALA LUMPUR: DIALOG GROUP BHD [] shares advanced on Tuesday, May 10 after The Edge FinancialDaily reported that the company and its Australian partner Roc Oil were on the verge of bagging the marginal oilfield projects from Petroliam Nasional Bhd (Petronas) for Balai and Bentara fields, located off the coast of Sarawak.
At 9.30am, Dialog was up three sen to RM2.55 with 330.600 shares traded.
CIMB Equities Research has maintained its sum-of-parts target price of RM2.67 for Dialog and also its earnings per share (EPS) forecasts.
It was commenting on the article that suggested that the JV between Dialog and Australia's Roc Oil was set to secure the risk sharing contract (RSC) for the development of the Balai and Bentara marginal fields.
'The RSC would mark new milestones for both companies ' upstream diversification for Dialog and a Malaysian debut for Roc,' it said.
CIMB Research said assuming that 1) Dialog has the minimum 30% stake in the JV, and 2) other terms are similar to those for the Berantai marginal field, Dialog's FY6/12-13 EPS could be boosted by 8-9%.
'The fees from oil production will be realised beyond our forecast period. Dialog remains an OUTPERFORM, with the potential re-rating triggers being 1) announcement of the marginal field development, and 2) new markets, i.e. Saudi Arabia,' it said
Company Name: DIALOG GROUP BHD
Research House: CIMB
KUALA LUMPUR: DIALOG GROUP BHD [] shares advanced on Tuesday, May 10 after The Edge FinancialDaily reported that the company and its Australian partner Roc Oil were on the verge of bagging the marginal oilfield projects from Petroliam Nasional Bhd (Petronas) for Balai and Bentara fields, located off the coast of Sarawak.
At 9.30am, Dialog was up three sen to RM2.55 with 330.600 shares traded.
CIMB Equities Research has maintained its sum-of-parts target price of RM2.67 for Dialog and also its earnings per share (EPS) forecasts.
It was commenting on the article that suggested that the JV between Dialog and Australia's Roc Oil was set to secure the risk sharing contract (RSC) for the development of the Balai and Bentara marginal fields.
'The RSC would mark new milestones for both companies ' upstream diversification for Dialog and a Malaysian debut for Roc,' it said.
CIMB Research said assuming that 1) Dialog has the minimum 30% stake in the JV, and 2) other terms are similar to those for the Berantai marginal field, Dialog's FY6/12-13 EPS could be boosted by 8-9%.
'The fees from oil production will be realised beyond our forecast period. Dialog remains an OUTPERFORM, with the potential re-rating triggers being 1) announcement of the marginal field development, and 2) new markets, i.e. Saudi Arabia,' it said
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