REACH ENERGY BERHAD
Last Price: 0.09
TTM Dividend Yield : 0%
Coming Quarter Report: ~ 2021-03-02
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Sector: Oil & Gas
Reach Energy Berhad, formerly Reach Energy Sdn Bhd, is a special purpose acquisition company for oil and gas exploration and production. The Company is focused on developing upstream hydrocarbon resources in the Asia Pacific Region. The Company intends to acquire qualifying assets related to the exploration and production of oil and gas development and production activities in the petroleum industry (Qualifying Acquisition). It evaluated over 40 Qualifying Acquisition targets spanning approximately five countries within its region of interest. The Company is targeting oil and/or gas brownfields in the production phase, and fields in the proximity of existing producing areas that are either in development phase or in advanced stages of development planning that is with Field Development Plan (FDP) in progress or approved but where production has not commenced. It intends to focus on countries, such as Malaysia, Indonesia, Australia, Myanmar, Thailand, the Philippines and Vietnam.
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In financial accounting, operating cash flow (OCF), cash flow provided by operations, cash flow from operating activities (CFO) or free cash flow from operations (FCFO), refers to the amount of cash a company generates from the revenues it brings in, excluding costs associated with long – term investment on capital items or investment in securities.(From Wiki)
Reach Energy Bhd is an oil and gas exploration and production company. It is principally engaged in the exploration, development, and sale of petroleum products in the Republic of Kazakhstan. The company earns the majority of its revenue from the sale of crude oil in the Republic of Kazakhstan.