On 10 Aug I posted my article “Why did I sell all my Hibiscus shares?”. I am ashamed to admit my mistake. This morning I just Googled “Hibiscus oil production chart” and I saw Hibiscus crude oil production chart below:
This morning I also Googled “Brent Crude oil price chart” and I saw Brent Crude oil price chart above.
When the company can increase oil production as shown on the oil production chart and also can sell its oil production at the higher price as shown on the oil price chart, the company should continue to report increasing profit for the next few quarters. As a result, its share price should go up higher and higher.
Its share price has been dropping from Rm 1.50 to the current price level of 86 sen as shown on the price chart above. However, its share price has been stabilised in the last 1 month as shown on the 1-month price chart above. Looks like it is quite safe to buy Hibiscus at this price level.
Due to the Ukraine war, oil and gas prices have been shooting up. As a result, all oil producing companies have reported record profit. For example, Shell which posted another record profit as shown below:
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