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Technics Oil&Gas
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Nostradamus
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05-Sep-2006 19:42
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It said it has formed a joint venture with an Indonesian firm to lease gas compressor units to companies in the oil and gas industry. The joint venture company will be 51% owned by Technics' wholly owned Indonesian unit PT Technics Offshore Jaya, while the Indonesian partner, which was not named, will hold the balance. Financial details such as how much the joint venture will be capitalized were not disclosed. Technics said its wholly owned offshore engineering unit also signed a $4. 8m agreement with the Singapore unit of Dubai-based Global Process Systems (GPS) Ltd to lease offshore equipment to the latter for three years at a fixed rate and an option for extension. Under the deal, Technics also has the first right of refusal to undertake GPS' contract engineering project work for mobile offshore production units and floating production storage & offloading process topsides. "Our foraging of strategic partnerships in new business segments will enhance our prospects going forward, paving the way for the group to tap a new customer base in the leasing business and generate new earnings stream," Technics managing director Robin Ting said. "We anticipate our partnership with GPS will yield more contract engineering projects for the group," he added. |
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Gallen
Senior |
23-Apr-2006 10:42
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Extracted from my blog http://kelongstocks.blogspot.com Please "support" my blog if you find the writeup informative, thanks :) Technics Oil & Gas broke out of a bullish flag formation on high volumes on 13 Apr 06. Technical target for this breakout is $1.00. Likely to see a gap up on Monday given record oil prices and better than expected interim results. Resistances: $0.835 (recent high and all-time high), $0.915 (current uptrend channel resistance) Supports: $0.78 (recent support), $0.74 (prior resistance turned support, also uptrend channel support), $0.68 (support level during bullish flag formation) Indicators: Bullish (RSI just about to rebound back into overbought zone after dipping down from there, Stochastics just underneath overbought zone, fast line has cut down below slow line, MACD in positive region). ...........continued at my blog |
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