@ https://encore-melaka.com/show/
Try go in and buy tickets - A lot of unsold tickets😨

Who is he?
Saw Chai Soon

Total Energy recently bought SAPNRG's remaining 50% in SapuraOMV , they require the money.

I do not think so.
https://emma.com.my/eramas-group-of-companies/

@just88
Does Eramas group own any coconut plantation? If not, high demand of coconut may increases the raw material cost. to the Eramas factories.

After the ex date on 19/1 , when the shareholders will receive the ARBIOT shares?

RM 97 million arrears in outstanding SST and penalty. With share cap of 2 billion impact only 5 sen per share. No need to over react.

Thank you @twynstar. To date Q4 average is USD 108.67.

All the information was disclosed in their Corporate and Business Update released at 12:30 pm just now.

@Sakolim
Correction:
20k consists of Oil 12K and Gas 8K (e).
Out of the gas of 8K , 7K was from the ex-Repsol.
The price of gas from the ex-Repsol was contracted at lower price.
It did not enjoy the current high market price.

RHB coverage dated 23rd May 2022 - MYR1.84 FV, based on EV/2P oil reserves of USD10.00/boe.

Thanks @danchong for sharing the Youtube's link.

M+ Online Technical Focus - 5May22
Hibiscus Petroleum Bhd: Riding on the upcycle of crude oil prices

Trading Catalyst
• Malaysia’s first public listed independent oil and gas exploration and production firm, focusing on the development and production of oilfield assets in United Kingdom, Malaysia and Australia.
• The completed acquisition of Repsol Exploración SA assets will generate more than double of its daily production to 23,000 bdp.
• One of the prime beneficiaries under the high crude oil prices environment (Brent oil price is hovering above USD100/bbl).
• Technically, price has formed a flag-formation breakout above RM1.25, targeting the next resistances at RM1.30-1.38 with long term target set at RM1.50.

Technical View

(i) HIBISCS (S: RM1.16, R: RM1.30-1.38, LT TP: RM1.50, CL: RM1.15)

S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss

Source: Bloomberg, M+ Online

This is the company announcement:
HIBISCUS PETROLEUM BERHAD ("Hibiscus Petroleum" or "Company")
- Clarification In Relation to the Bloomberg News Article of 13 April 2022

If I recall correctly it is a normal practice for Hibiscus to halt trading for any announcement. This time suspend for 1 hour only due to announcement to clarify Bloomberg News yesterday (The SPAC listing at Singapore stock Exchange).
I believe it is a good corporate governance in their part.

HIBISCS - Trading Halt and Resumption of Trading
HIBISCS - Trading Halt and Resumption of Trading
ILC-14042022-00004
Kindly be advised that trading in HIBISCS' securities has been halted with
effect from 9.22 a.m., Thursday, 14 April 2022. Accordingly, trading in
structured warrants relating to HIBISCS has also been halted at the same time.
Trading in the above securities will resume with effect from 10.22 a.m.,
Thursday, 14 April 2022. Your attention is drawn to the Company's
announcement dated 14 April 2022.

Suspended at 9:21 am

After 3 years Oil price may drop but Hibiscus will increase their production from Marigold ( first oil expect in 2024). As long they can maintain their cost should be fine.
Profit = (Production x Price) - Cost.

@twynstar Good recap.
For a full 12 months the enlarged Hibiscus will produce and sell at least 8 million barrels of oil equivalents. Oil price should stay above USD80 for the next 3 years..... ..

Thank you
@Fundamental Trader

Well done @Zhangzuode @twynstar @mokluhanj21.
Peace of mine with you all around.....

Then will reach RM 1.50 by April 2022...

Hibiscus Petroleum is poised to climb higher, as it bounced off the intraday low session ? which was also its support ? yesterday on strong volume. If the bulls manage to push it past the immediate resistance of MYR1.27, the stock may climb further towards the MYR1.36 resistance (Oct 2018?s high), followed by the MYR1.50 threshold. However, the momentum may lose steam if it falls below the MYR1.15 support, ie below the 21-day average line.

Source: RHB Securities Research - 2 Mar 2022

https://klse.i3investor.com/blogs/ZZD/2021-10-17-story-h1592739877-Hibiscus_buy_Hibiscus_III_How_much_is_Hibiscus_Worth_b.jsp

For those who may have missed out his good writeup.

@zhangzuode - Already reach 85% of your TP. May you share what is your next move/strategy? Cash out partially or all? Or you want to wait for a little bit longer? Thank you in advance

https://www.youtube.com/watch?v=0L_2uQIdmjI
Listen to Dr Ken at radio ] ASEAN Speaks: Hibiscus Petroleum - Keep The Bike Upright

TP by MIB -1.70
TP by PBB - 1.31
TP by AmB - 1.30
Average TP- 1.44

Yes , cheers

JAKS really need a good Q4 result and a dividend policy in order to move its
price. Don't think there will be any new development in other RE projects.

Long term prospect should be good.

Chinese EV Stocks Are Flying Again
https://oilprice.com/Energy/Energy-General/Chinese-EV-Stocks-Are-Flying-Again.html

Someone asked for the report yesterday - TP by MIB

Hibiscus Petroleum (HIBI MK)
Energy beast
Initiate with BUY. MYR1.70 TP
Hibiscus is the best play for a cyclical, rising energy price market. It is
fundamentally sound (low P&L break-even oil price; sub-USD40+/ boe),
financially resilient, well-run and offers compelling growth (3-year NP
CAGR of 53%) with undemanding valuations. Our TP is conservatively
pegged to USD10/ boe of EV/ 2P valuation (@ 10x FY23 PER), a 45%
discount to its peer average of USD19/ boe. Accretive M&As, asset
monetisation deals or additional 2P reserves upside would add to upside.
A direct proxy to oil price play; proven to deliver
Hibiscus, a pure upstream O&G operator is the most leveraged O&G play
to capitalise on the strong energy push. FY22-24 earnings will grow by 35%-
54% for every USD10/bbl rise in oil price. It has a relatively low lifting cost
(P&L break-even oil price of sub-USD40/boe). A remarkable feature of
Hibiscus is its impeccable M&A track record. It has been proven able to:
(i) discover (Anasuria, North Sabah & Repsol deals), (ii) develop (grow 2P
reserves, 2C resources & production) and (iii) deliver (earnings growth,
cashflows) while (iv) maintaining a strict capital discipline, testament to
its cost-focused & bottomline-driven philosophy.
Latest Repsol M&A brings many positives
We are positive on this Repsol M&A. The deal, transacted at USD212.5m:
(i) is undemanding; equates to USD6.16/ boe 2P reserves, a 25% discount
to RPS Energy’s valuation, (ii) lifts its production/ 2P reserves/ 2C
resources by almost 3x/ 2x/ 2x, (iii) offers Hibiscus the prospect to
diversify its assets portfolio to 17% gas: 83% oil (vs. 2% gas: 98% oil
previously); a crucial aspect, in its ESG and energy transition quest.
Deeply undervalued with compelling upside
Our TP, based on USD10/ boe of EV/ 2P reserves, is undemanding vis-à-vis
its peers that trade at higher multiples (USD12-31/boe). We prefer this
valuation method over others for it captures the cyclical nature of its
operations and takes into account its balance sheet and cashflows aspects.
We see further upside should it succeed in converting some of its sizeable
2C resources (73.2m bbls) to 2P reserves and/ or monetise some of its
development fields (i.e. Marigold, Australia) along the way.
Share Price MYR 1.13
12m Price Target MYR 1.70 (+50%)
BUY

Indeed is a very good news for Marigold. If not because of Itacha , Marigold should have obtained the approval much earlier.
https://www.offshore-mag.com/field-development/article/14209360/hibiscus-petroleum-ithaca-energy-pursuing-different-options-for-north-sea-subsea-tiebacks

Just hope there is no bad news coming from UK as decision by OGA should be by end of 2021.
So far no announcement on this.
1 good news + 1 bad news = ?

#In 2021, OGA had suspended review of the Field Development Plan (FDP) to develop the Marigold and Sunflower fields in the Central North Sea pending consideration of an alternative off-take solution for the area proposed Ithaca Energy Ltd (Ithaca)#.

Speechless.... can even went down to 83.5

Ya Wish everybody Happy Holidays. Go away and come back stronger next year!. Stay safe

Petronas has given its approval on the Repsol acquisition.
Now only pending the Vietnam side

Yes Hibiscus strong support at 0.70+.Be patient wait for Repsol deal to conclude.

Update from AmBank after an analyst briefing with management yesterday:
Hibiscus will not be proceeding with a proposed 5-year US$ bond issuance for the proposed US$212.5mil Repsol acquisition as the interest rates offered by financial institutions ranged over 8% which management deemed excessive given the company’s B1 rating from Moody’s Investors Service and B+ from S&P Global Ratings.
Instead, the group expects the deal to be funded from operational cash generated from the proposed Repsol assets commencing on 1 January 2021, US$80mil Trafigura prepayment facility (which has a more acceptable implied interest rate of below 4%) extension to Dec 2023 and RM204mil convertible redeemable preference shares which were issued in November last year. In 1H2021, the combined Repsol assets registered an EBITDA of US$80mil when Brent crude oil prices averaged at US$65/barrel vs over US$80/barrel currently.
The group hopes to secure the necessary approvals from the Malaysian and Vietnamese authorities to complete the Repsol deal by January 2022.

https://cdn1.i3investor.com/my/files/dfgs88n/2021/11/01/1538276410-1858569586.pdf

Please read the report for your own judgement and decision.

AmInvest report dated 30/10/2021 - Cukai Makmur is a one-off special tax which will apply to companies with chargeable income above RM100 million. We gather that for the first RM100 million, the chargeable income will be subjected to income tax at a rate of 24%. As for the remaining chargeable income above RM100 million, a 33% rate will apply. All these will be applicable for the year of assessment 2022. Out of the 96 stocks that we cover, 62 (or 65% of them) have profit before tax at above RM100mil. The impact to the bottom lines for these companies ranges from 1.2% to 11.8%. We estimate that the sector with sharpest short-term impact on 2022 earnings are gloves (average 10.3% impact), oil and gas (average 10.1%) and banking (average 8.6%). See Exhibit 1 for our estimates on the 62 stocks that we cover.

@zhangzuode - Yes cashflow issue and the management already has a plan to raise cash thru bond if require and not CPRS. The back duty tax not sure if has been provided in the accounts or not. If not may impact the bottom line post acquisition.

Hats up to the management. They are transparent and full disclosure to the public. The Investor Material are 300+ pages but genuine investors should have a look at it.

From the Investor - Material (Pg 22) : As the Target Group is involved in various legal proceedings, following completion of the Proposed
Acquisition, the Group could be subject to liabilities or disputes with respect to such activities which
could adversely affect the Group’s financial position and require management attention.
Total potential tax liability close to RM 100 million.
Please take note.

Thank you for answer.

Quantum of the Bond maybe US$ 300m or US$ 110m (RM 450.3m) and the fixed rate might be 7.18% - May I know where you get this rate of 7.18%. Bank loan interest is definitely at least 1% -2% lower. Shouldn't it be wiser to get a bank loan instead of issue bond?

Your TP is too conservative...might to write part 3?

Good job. You are right and should be reaping the reward now.