Highlights
KLSE : HIBISCS       HIBISCUS PETROLEUM BHD
Last Price Today's Change   Day's Range   Trading Volume
0.195   -0.005 (2.50%)  0.195 - 0.20  2,445,100
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Overview

Avg Volume (4 weeks):3,636,800
4 Weeks Range:0.185 - 0.20
52 Weeks Range:0.13 - 0.69
Average Price Target:0.80
Price Target Upside/Downside:+0.605
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Headlines

Latest Headlines
25/08/2016  PublicInvest Research Headlines - 25 Aug 2016
19/07/2016  英国油田贡献‧木槿花受追捧
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  29 people like this.
 
riko Post removed. Why?
26/08/2016 17:20
eszy23 obvious use of creative accounting to inflate profit...many next quarters to come will be a loss. they have already booked negative goodwill twice in a role.
26/08/2016 19:50
sheep So many negative comments by cindikate, indicates a sign to tell you to buy buy buy.Trust me...wakakaka
26/08/2016 20:05
eszy23 seems like the only reason people are buying hibiscus is because they are counting on oil price will rebound. But there are so many other oil and gas counters more quality than hibiscus, why risk ur hard earned money? this company is too risky. I wouldn't go for any company that goes to a great length to manipulate their profit on paper
26/08/2016 20:15
upandownup https://www.energyvoice.com/marketinfo/117664/hibiscus-reports-profits-boost-north-sea/

Hibiscus reports profits boost from the North Sea


Written by Keith Findlay - 26/08/2016 7:54 am


North Sea newcomer Hibiscus Petroleum, of Malaysia, is toasting an huge markup in the value of its assets in the region.

Posting results for the year to June 30, 2016, Kuala Lumpur-based Hibiscus said its stake in the Anasuria cluster in the central North Sea was worth nearly £158million, as of March 1.

The figure, generated by RPS Energy Consultants, is 84% higher than indicated in a previous valuation by the same consultancy in September 2015.

Hibiscus said the new total was based on “areas of oil and gas production profiles, oil price projections and revised operating and capital cost estimates.”

Oil prices have rebounded this year following a sharp slump in late 2014, with Brent crude now fetching nearly $50 a barrel.

Hibiscus and fellow Malaysian company Ping Petroleum completed their acquisition of the Anasuria cluster from Shell and ExxonMobil earlier this year for close to £70million.

The move came after Shell announced it planned to sell “significant parts” of its UK operations, including interests in the Anasuria, Nelson and Sean assets.

Hibiscus was the first independent oil and gas company to list on the Malaysian stock exchange in 2011, after being founded in 2007.

Ping Petroleum is a privately-owned firm headquartered in the tax haven of Bermuda, with an office in Kuala Lumpur.

Hibiscus and Ping said at the time of their North Sea deal it reflected the support of the UK Government to encourage “smaller independents to invest and revive the North Sea basin.”

The Anasuria assets are located 110 miles east of Aberdeen and comprise wholly-owned interests in the Anasuria floating production, storage and offloading vessel and the Teal, Teal South and Guillemot A fields, plus a 38.65% interest in the Cook field, which is operated by Ithaca Energy.

In its latest annual results, Hibiscus – focused on exploration, development and production assets in the UK and Australia, said operating profits from Anasuria delivered a boost to business.

Pre-tax losses for 2015/16 came in at £10.6million, compared with £12.4million a year earlier, with revenue nearly 12 times higher at £15.8million.
26/08/2016 23:24
PenguinDad MD had a talk over the weekend and it is undervalued with a production. Hopefully, they win the court case in Singapore and get some compensation in return.
29/08/2016 08:51
PenguinDad The MD should has go to Bloomberg or EdgeMarket to do a video for presenting the business model for promotion of the company. There you get more exposure to a big viewer.
29/08/2016 09:45
upandownup https://www.youtube.com/watch?v=qSaqAYVN6G8

Bloomberg interview :-)
29/08/2016 10:26
slpless I'm one of the tiny shareholders of Hibiscus. I have some questions. And I know there are a lot of smart and informative investors in this forum. If you are seeing this, please kindly help answer. Thanks in advance.

1) Anasuria is their sole revenue generator?

2) What is their production quantity per month, quarter, and year?

3) What is the quantity per sale?

4) How many sales per quarter and year are we expecting for July 2016 to Jun 2017?

5) Assuming their average selling price is at USD40/bbl, how much is the revenue per quarter and year?

6) What is their expecting GP and NP per quarter and year?

7) What was the number of sales and average price for the last fiscal year in order for them to get the revenue as per reported?

8) Will they generate more revenues for year ending 30th June 2017 in comparison with 2016?

9) If the answer to question 8 is YES, are we going to see a first positive P&L?

10) How can a first positive P&L going to affect the stock price?
29/08/2016 11:31
slpless Dear Brutus121,

You are right, Shoe companies will definitely know their production rate. However, if an Oil Company which has an Oil Producing Asset does not know their production rate, then there is a big problem.

Unless you are telling me you have no interest in knowing the numbers, then it is perfectly understandable that my questions are irrelevant. Otherwise, please don't bash me for asking if any smart and informative investor can help answer.

Thanks.
29/08/2016 21:18
Jack Lee Slpless asking relevant questions. Any company still need to track cost of production by the unit, gross margin, net margin, g&a expenses, revenue and etc.
29/08/2016 22:02
zulmuiz Support level broken. Sad man
01/09/2016 01:14
stleelee83 slpless! have you seen their latest quarterly results? I think most of the questions you asked, the answers are in part c where they talk about operations update. according to that section, they produce about 3000 barrels per day, and the average oil price is USD 40/bbl. So to calculate revenue, is just oil price x production over a certain period. for example:

Total production in one year = 3000 bbls per day x 365 days = 1.1million in one year
Total revenue = 1.1 million barrels x usd40/bbl = USD44million in one year. (RM176 million)

To calculate the costs, you look at the operational cost per barrel, is USD23/bbl.
zero capital cost for this year.
Total costs = 1.1million barrels x USD23/bbl = USD25.3million in one year

gross profit = revenue - costs = USD44million - USD 25.3million = USD 18.7million in one year
01/09/2016 15:51
stleelee83 brent crude oil price today is USD46/bbls, so you can imagine that if oil price goes up, hibiscus revenue and profits will go up too!
01/09/2016 16:36
stleelee83 Oil Discoveries at 70-Year Low Signal Supply Shortfall Ahead

Explorers in 2015 discovered only about a tenth as much oil as they have annually on average since 1960. This year, they’ll probably find even less, spurring new fears about their ability to meet future demand.

With oil prices down by more than half since the price collapse two years ago, drillers have cut their exploration budgets to the bone. The result: Just 2.7 billion barrels of new supply was discovered in 2015, the smallest amount since 1947, according to figures from Edinburgh-based consulting firm Wood Mackenzie Ltd. This year, drillers found just 736 million barrels of conventional crude as of the end of last month.

That’s a concern for the industry at a time when the U.S. Energy Information Administration estimates that global oil demand will grow from 94.8 million barrels a day this year to 105.3 million barrels in 2026. While the U.S. shale boom could potentially make up the difference, prices locked in below $50 a barrel have undercut any substantial growth there.

New discoveries from conventional drilling, meanwhile, are “at rock bottom,” said Nils-Henrik Bjurstroem, a senior project manager at Oslo-based consultants Rystad Energy AS. “There will definitely be a strong impact on oil and gas supply, and especially oil.”

Global inventories have been buoyed by full-throttle output from Russia and OPEC, which have flooded the world with oil despite depressed prices as they defend market share. But years of under-investment will be felt as soon as 2025, Bjurstroem said. Producers will replace little more than one in 20 of the barrels consumed this year, he said.

Global spending on exploration, from seismic studies to actual drilling, has been cut to $40 billion this year from about $100 billion in 2014, said Andrew Latham, Wood Mackenzie’s vice president for global exploration. Moving ahead, spending is likely to remain at the same level through 2018, he said.
Exploration is easier to scratch than development investments because of shorter supplier-contract commitments. This year, it will make up about 13 percent of the industry’s spending, down from as much as 18 percent historically, Latham said.

The result is less drilling, even as the market downturn has driven down the cost of operations. There were 209 wells drilled through August this year, down from 680 in 2015 and 1,167 in 2014, according to Wood Mackenzie. That compares with an annual average of 1,500 in data going back to 1960.
01/09/2016 16:42
stleelee83 10-Year Effect
Ten years down the line, when the low exploration data being seen now begins to hinder production, it will have a “significant potential to push oil prices up," Bjurstroem said.
“Exploration activity is among the easiest things to regulate, to take up and down," Statoil ASA Chief Executive Officer Eldar Saetre said Monday in an interview at the ONS Conference in Stavanger, Norway. “It’s not necessarily the right way to think. We need to keep a long-term perspective and maintain exploration activity through downturns as well, and Statoil has."

The Norwegian company will drill “a significant number” of wells in the Barents Sea over the next two to three years, exploration head Tim Dodson said Tuesday at the same conference. Given current levels of investment across the industry and decline rates at existing fields, a “significant” supply gap may open up by 2040, he said.

Oil prices at about $50 a barrel remain at less than half their 2014 peak, as a glut caused by the U.S. shale boom sent prices crashing. When the Organization of Petroleum Exporting Countries decided to continue pumping without limits in a Saudi-led strategy designed to increase its share of the market, U.S. production retreated to a two-year low.

Price Spike
“Considering the reduction in the prices, you have to be looking to every dollar you are spending,” Pedro Parente, CEO of Petroleo Brasileiro SA, said Tuesday in an interview outside Stavanger. "It can’t continue forever, because then what we’ll see is a spike in prices in the future.”

Kristin Faeroevik, managing director for the Norwegian unit of Lundin Petroleum AB, a Stockholm-based driller that’s active in Norway, said it will take "five to eight years probably before we see the impact" on production from the current cutbacks. In the meantime, he said, "that creates opportunities for some.”

Oil companies will need to invest about $1 trillion a year to continue to meet demand, said Ben Van Beurden, the CEO of Royal Dutch Shell Plc, during a panel discussion at the Norway meeting. He sees demand rising by 1 million to 1.5 million barrels a day, with about 5 percent of supply lost to natural declines every year.

Less Risk
Persistently low prices mean that even when explorers invest in finding new resources, they are taking less risk, Bjurstroem said. They are focusing on appraisal wells on already-discovered fields and less on frontier areas such as the Arctic, where drilling and developing any discovery is more expensive. Shell and Statoil, among the world’s biggest oil companies, abandoned exploration in Alaska last year.

“Traditionally, it’s the big companies that have had the means to gamble, and they might be the ones that have cut the most,” Bjurstroem said.

Overall, the proportion of new oil that the industry has added to offset the amount it pumps has dropped from 30 percent in 2013 to a reserve-replacement ratio of just 6 percent this year in terms of conventional resources, which excludes shale oil and gas, Bjurstroem predicted. Exxon Mobil Corp. said in February that it failed to replace at least 100 percent of its production by adding resources with new finds or acquisitions for the first time in 22 years.

“That’s a scary thing because, seriously, there is no exploration going on today,” Per Wullf, CEO of offshore drilling company Seadrill Ltd., said by phone.
01/09/2016 16:42
truthseeker Stleelee83 = upanddownup

Multiple IDs here would not change the facts - oil will not recover for next 2 years. Ask PETRONAS and you will get this answer ......
01/09/2016 23:03
annmix dont understand why people here jus like to - cry "father cry mother here", already known oil business will not be recovering in short times, this time takes another few years.. so be a real investor..if u have faith in oil stock, then its time to buy some now for future, if jus hoping for short term gain, dont waste yr energy cursing every oil stock everyday
01/09/2016 23:09
truthseeker From the QR latest report, : http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=192551&name=EA_FR_ATTACHMENTS

You will have the profit losses - and someone here has wrote this correctly ...

I repeat whaf was written ....


Revenue RM50,583,00
Cost of sales ( RM18,449,000 )
Administrative expenses (RM48,494,000)
Other expenses (RM18,061,000)
Finance costs (RM6,663,000)


Total = LOSS of of over RM40 million


Don't get misled by the cost of sales as it only covers ONE part of the expense. The bigger part is the administrative cost which they pay Petrofac to manage the field and their own expenses in Malaysia. This are the big ones!!! Sadly the company is losing money every quarter ..............
01/09/2016 23:10
truthseeker Annmix - you got a point but only if the company has sustaining power to last 2 to 3 years....

Sadly most companies do not have the fundementals not the funds to sustain for such long period and will crumble under the pressure of sustain low oil prices......

You will see more and more companies going under... Look at Perisai recently... It is diving to all time low never seen before.. And the end is not in sight...
01/09/2016 23:14
truthseeker Chances are most oil companies with no diversity will be under extreme pressure and will see new lows or tank even in the near future with the prolong suppress oil prices - there is no two ways about this as this has happened in USA and will happen everywhere...
01/09/2016 23:16
Brutus121 Hear Ye..Hear Ye! truthseeker
03/09/2016 10:52
clp72 just read that Rex has announced that there has been no appeals to the judgement in the Isle of Man. Although HIB has already taken this into account, he needs to take responsibility for this and step down.
05/09/2016 10:47
B4b4 Oil up very strongly. US 49 per barrel! Soon will hit 55. Hibiscus is on the road for bigger profit than the previous Q when oil was only US 40 per barrel.
05/09/2016 17:36
annmix as long as petronas business recovery n awarding more contracts , and also those company can have new contract awarded n existing contract extension.. don't think they will die so easily. once they industry start seeing lights, things will turn around very fast
09/09/2016 01:17
cruz if oil still low in 2017, hibiscus will collapse marking the end of SPAC O&G in M'sia.
10/09/2016 12:52
stleelee83 hibiscus is not a spac anymore... is an oil and gas company producing oil every day
15/09/2016 10:39
truthseeker http://rex.listedcompany.com/newsroom/20160902_173445_5WH_WDKQ2FQW9SBS6R6L.1.pdf

Stay away from this counter - they are not just losing money in operations (and camouflage by clever accounting) - they are also losing all the court cases .....have to pay REX approximately 600,000 pounds in legal fee reimbursements....

Future is very bleak and potential more stress and I just read they again went for fund raising exercise - at low price - means reality is company still has no money (after 5 years lisitng and new 600 million shares issued ). They still depend on cash from the issuance of new shares. Won't be surprise next AGM, another request for shareholder to approve more share listing - -all signals for This counter seems to pointing south. Not sure how long before it comes to terms with reality....
15/09/2016 10:57
stleelee83 http://www.bursamalaysia.com/market/listed-companies/company-announcements/5200921

must be that the people here who support rex are like the rex people... putting up inaccurate and misplaced information.
15/09/2016 11:12
Brutus121 That's the name of the Game in the Malaysian Stock Marker. As Always Buyers Beware!
15/09/2016 12:57
truthseeker Fact remains they lost the court case and they now are not disputing this - next they will also not dispute the legal fees they have to pay REX . And don't forget their OWN legal fees.......
15/09/2016 16:54
Bunga_Raya So cheap yet can make so much money why nobody want? Let me sapu more. Even IB give TP 42 sen.
http://www.bursamarketplace.com/index.php?ch=ch_themarket&pg=pg_tm_stocksss&ac=2317
19/09/2016 12:15
Oil_n_Gas Oil rebound why no rebound here?
22/09/2016 15:24
Oil_n_Gas TP 42 sen? Let me buy more when others throw. Be greedy when others are fearful-Warren Buffett.
http://www.bursamarketplace.com/index.php?ch=ch_themarket&pg=pg_tm_stocksss&ac=2317
22/09/2016 15:34
kuah Dead stock
22/09/2016 23:12
TAH = RUN
22/09/2016 23:44
Oil_n_Gas Oil up 2%. Tomorrow up?
http://www.bloomberg.com/energy
22/09/2016 23:54
BN_menang Oil cost USD 23 vs oil price USD 46(100% profit) why cannot up?
23/09/2016 15:14
Icon8 Rebut rebut beli.
29/09/2016 09:24
Icon8 Low oil already profitable. If oil price higher mega profit?
29/09/2016 09:26
chongmeng three years drilling ,anybody know have oil out ?
29/09/2016 09:29
clp72 looks like Rex is trying to tai chi its way out of things now... http://rex.listedcompany.com/newsroom/20160928_171105_5WH_4W2C5YMNH29LM555.1.pdf
29/09/2016 09:29
Icon8 TP 42 sen if don't buy now want to wait higher price only buy?
http://www.bursamarketplace.com/index.php?ch=ch_themarket&pg=pg_tm_stocksss&ac=2317
29/09/2016 09:30
clp72 while hibiscus was no angel in this matter, i think that Rex acted in bad faith with regards to this venture by moving out all the assets to their entity. Would be interesting to see the outcome of their suit in Norway. If Rex defense is to apply for a stay of the Suit pending
arbitration of disputes under the SHA, looks like they have something to hide also.
29/09/2016 09:41
BN_menang Yes. Anasuria is producing 6500 barrel per day. Last 2 qtr profitable even oil low price because Hibiscus oil cost only USD 23/bbl.

chongmeng three years drilling ,anybody know have oil out ?
29/09/2016 09:29
29/09/2016 10:17
BN_menang Must call Kenneth Pereira to have other unit listing? Pls read article in Bursa Mktplace.
29/09/2016 11:17
Ser Dong look like oil price will be more stable, so now can buy any oil n gas company like hibiscs , skpetro or another more better company??
29/09/2016 17:31
stleelee83 opec has finally agreed to cut production and this has caused a spike in oil price.. expect it to go up even more soon! higher oil price means higher profit for hibiscus
29/09/2016 18:22
clp72 dont get fooled by the last P&L, looks like they are making $$ but all this is just on paper... they are just breaking even(maybe 3 mill profit). Huge numbers you saw in the last report was due to "reevaluation of assets". Better way to look if a company is healthy is to look at the cash flow statements. Having said that, it is still ok as their only long term debts Anasuria purchase(credit with Shell) is manageable. I still fell that all their top management should take a pay cut.
30/09/2016 09:11
upandownup http://www.wsj.com/articles/oil-prices-rise-on-opec-deal-1475115600

Oil Prices Climb After OPEC Deal
The Organization of the Petroleum Exporting Countries surprises the market by agreeing to a framework to cut production

By Alison Sider and Sarah McFarlane
Updated Sept. 29, 2016 3:49 p.m. ET

Oil prices continued to push higher Thursday, building on gains following the Organization of the Petroleum Exporting Countries’ agreement to cut output.
OPEC’s surprise proposal prompted the largest daily gains in crude prices since April on Wednesday, and the rally continued Thursday even as many investors have raised questions about whether the cartel’s members would stand by an agreement and over how much sway the cartel now has over a market still brimming with crude from around the world.
West Texas Intermediate crude rose 78 cents, or 1.66%, to $47.83 a barrel on the New York Mercantile Exchange. Brent crude, the global oil benchmark, rose 55 cents, or 1.13%, to $49.24 a barrel on London’s ICE Futures exchange.

“Beyond a doubt, I think this is credible,” Carl Larry, director of oil and gas at Frost & Sullivan, said of the agreement OPEC struck Wednesday. “There is a lot of concern from the major suppliers that things are going to get worse—this cut is the tip of the iceberg.”

The group reached an understanding at a meeting Wednesday in Algeria that there was a need to scale back production. It agreed on a preliminary outline to cut its collective output to between 32.5 million barrels a day and 33 million barrels a day, down from the levels of 33.2 million barrels a day in August, national oil ministers said.

OPEC members will wait until the next official meeting in November to complete the details, including the quota for individual producers.
The agreement hasn’t been enough to break crude from the roughly $40-to-$50 range it has traded in for months, but some analysts said any sign of cooperation from the group is bullish for the oil market.

“You want to see actions not words, but quite frankly, over the last few years, they haven’t even been able to deliver words, so this is a step forward,” said John Saucer, vice president of research and analysis at Mobius Risk Group in Houston.

But many market participants remain skeptical. The plan doesn’t say how much each individual country will have to cut, and some countries will be treated differently—Iran, Libya and Nigeria are still trying to increase production by as much as 1.5 million barrels a day collectively. Even if the premise of the deal holds together until OPEC’s next meeting, ensuring that member countries stick to production quotas has been notoriously difficult.

“Let’s be honest—they’ve never adhered to any of these types of things,” said Tariq Zahir, managing member of Tyche Capital Advisors. “To continue going from there you really have to show me an agreement that Iran isn’t going to be producing like crazy.”
Another risk is that pushing up the prices via a production cut among low-cost producers would provide more incentive for oil drillers around the world to open their spigots even wider. The move would be “self-defeating,” said Goldman Sachs.

Global oil markets have been upended by the arrival of U.S. shale oil. More traditional source of oil, such as Russian oil fields, also have been pumping at full tilt as global producers battle for market share.

“OPEC has declared a truce on oil prices. But relentless improvements in shale technology will keep Saudis awake at night wondering if they have made the right choice,” analysts at BofA Merrill Lynch Global Research wrote Thursday.
More

Stocks Lifted by Prospective Deal
OPEC Agrees on Need to Cut Oil Output
Analysis: OPEC ‘Understanding’ Is Easily Misunderstood
Gasoline futures fell 1 cent, or 0.74%, to $1.4668 a gallon. Diesel futures gained 1.92 cents, or 1.29%, to $1.5102 a gallon.
—Jenny W. Hsu contributed to this article.
30/09/2016 09:54


 

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