http://www.thestar.com.my/business/business-news/2017/05/30/petronas-okays-hibiscus-purchase-of-shell-stake-in-sabah-venture/

Darren, not correct, Sabah oil cost less than North sea.. now between 15 and 18 USD.

this is just to beginning, 3 days more to come, share will reacj its deserved value. TP 1.15.

So, my prediction was corerect

If you invest in this counter some month ago. Means your average is about 0.45. So if you consider sekling than sell high at least 0.5 and above. Or you can wait till tp is reached. 0.6 or even 0.7 in few month.. trade at own risk. Good luck to all. We cant stop anyone to sell and we cant force anyone to buy..this counter in my opinion is back and it will remain top active for days to come.

General t. I am here. All good news for hibuscus as i expected. I think i have said enough. Hibiscus is now moving to higher level. Proven Oil reserve of hibiscus now is about 100 milion barrels. With opec garanty oil price above 50 dollar for the next 9 month or longer , hibiscus will generate at least 200 milion ringgit of net profit in a year.. and with sabah aquisition coukd come on strean in early 2018. Hibiscus will triple its income.. share value should increase at least tp 1 rm.

I am happy from the hart.

Agree with Betta68, the edge announcement mislead many investor..

HIBSCUS PETROLEUM BERHAD – PRESS RELEASE
HIBISCUS PETROLEUM CLOSES THIRD QUARTER WITH INCREASING REVENUE AND EBITDA FROM ANASURIA
 Group Profit After Tax for 9 months at RM97.4 million
 Anasuria operations contribute RM68.1 million to revenue and RM40.0 million to EBITDA for the Third Quarter ended 31 March 2017
 Group’s Net Assets per Share at RM0.52 as at 31 March 2017
24 May 2017 – 1.15 p.m.
Hibiscus Petroleum Berhad (“Hibiscus Petroleum” or “the Company” or “the Group”) today announced its results for the third financial quarter ended 31 March 2017 (“Third Quarter”). For this quarter, the Group delivered a profit before tax (“PBT”) of RM16.8 million and earnings before interests, taxes, depreciation and amortisation (“EBITDA”) of RM38.5 million. The Group’s year-to-date profit after tax (“PAT”) was reported at RM97.4 million.
Operationally, over 273,000 barrels of oil produced from various fields within the Anasuria Cluster were sold at an average realised oil price of USD52.95 per barrel contributing to a Third Quarter revenue of RM68.1 million.
The average production rate for the quarter stood at approximately 2,900 barrels of oil equivalent (“boe”) per day. This puts the average production rate for the financial year to date to about 3,500 boe per day, above planned production rates for the year. Other significant performance indicators reported were that operating expenditure per boe was circa USD15.12, underpinned by average facilities uptime of about 76 percent.
Note:
As part of the Company’s efforts to keep stakeholders engaged with the activities of the Company and informed of its quarterly performance, Hibiscus Petroleum will be releasing a webcast to present the highlights of the Third Quarter Results ended 31 March 2017. The webcast will be released on the Company’s website at: http://www.hibiscuspetroleum.com at 6.00 p.m. on 24 May 2017.

HIBISCUS PETROLEUM CLOSES THIRD QUARTER WITH INCREASING REVENUE AND EBITDA FROM ANASURIA
 Group Profit After Tax for 9 months at RM97.4 million
 Anasuria operations contribute RM68.1 million to revenue and RM40.0 million to EBITDA for the Third Quarter ended 31 March 2017
 Group’s Net Assets per Share at RM0.52 as at 31 March 2017
24 May 2017 – 1.15 p.m.
Hibiscus Petroleum Berhad (“Hibiscus Petroleum” or “the Company” or “the Group”) today announced its results for the third financial quarter ended 31 March 2017 (“Third Quarter”). For this quarter, the Group delivered a profit before tax (“PBT”) of RM16.8 million and earnings before interests, taxes, depreciation and amortisation (“EBITDA”) of RM38.5 million. The Group’s year-to-date profit after tax (“PAT”) was reported at RM97.4 million.

Vic Lee, i wish I know, perhaps we need to ask Hibsicus on his website, log in and ask teh question i am sure we get the good answer..

brent price now 54.55 USD up 0.72% , it lookm like tomorrow OPEC meeting will be positive..

yeh sell to me I buy, no problem,, i guess many of you are happy to get it at 42 c.. this may be a dream come through lah..well you have to wait long my friend,,

look, just to compare, Perisai posted 60 milion lost this quarter and his share did not fall at all, even better , today the share still between 0.06 and 0.065. Hibiscus made more than 98 milion thsi year sofar and you gys stil don't get it...you are giving a false warning to sell,, lol..lol..lol.

As explained by Hibiscus MD in Feb thsi year, Hibiscus did not hedge his oil,,as they believed teh oil price will go up.. i posted this article before in this blog..

brent keep going up now 54.48 USD up 0.61% , hope Hibiscus close at 0.45 at least..

No cut in production rate.

Reviewing its performance, Hibiscus said that operationally, over 273,000 barrels of oil produced from various fields within the Anasuria Cluster were sold at an average realised oil price of US$52.95 per barrel.

It said the average production rate for the quarter stood at approximately 2,900 barrels of oil equivalent (“boe”) per day.

Hibiscus said this put the average production rate for the financial year to date to about 3,500 boe per day, above planned production rates for the year.

“Other significant performance indicators reported were that operating expenditure per boe was circa US$15.12, underpinned by average facilities uptime of about 76%,” it said.

It was estimated 13 USD, now Hibiscus report showed 15 USD,, minor correction. refer to today announcement and the link posted by klseman

the way i see it, the net profite for the periode this year is 97,443 Milion, comparing to net loss last year for same periode of -78,912 Milion.. This is a fact that Anasuria aquisition is a profite making investment, hope next is Sabah Aquisition is successfull. if oil price continue at thsi level, means the 2017 year result will have to show at least 2x97Milion = 194 milion in net profite.. this is about 12 cent additional

So this quarter Hibsicus manage to produce 271000 barrels, at average cost of 15 USD and sold the barrel at average price of 53 USD.. this is exactlay what i predicted. and this is in line with my expectation., My TP is still 0.58

From a year ago untill now, Hibiscus management delievr what they promiss, hope they continue likewise for more year to come, in addition tomorrow OPEC and maybe later Sabah aquisition, lets all hope for the next good news to come sooner than we thought..the result are excelent to me.

ahhuat02, why you say less earn, in contrary, its is double earned comparing to last year same period, however last year profite was due to Tax return from UK.. read tehreport more in details..

excelent result, as I predicted 17 milion.. this prove that hibiscus have manage to reduce its operation cost to 13 USD per barrel...well done.

API data show a weekly decline in U.S. crude supplies, according to sources
Published: May 23, 2017 4:45 p.m. ET

By Myra P. Saefong
Markets/commodities reporter
 
Oil prices edged up in electronic trading Tuesday after the American Petroleum Institute reported a decline of 1.5 million barrels in U.S. crude supplies for the week ended May 19, according to sources. The API data also showed a drop of 3.2 million barrels in gasoline supplies, while inventories of distillates were down 1.9 million barrels, sources said. Supply data from the Energy Information Administration will be released Wednesday morning. Analysts polled by S&P Global Platts forecast a decrease of 2.8 million barrels in crude inventories. July crude CLN7, +0.16% was at $51.53 a barrel in electronic trading, up slightly from the contract’s settlement of $51.47 on the New York Mercantile Exchange.

I think everybody is waiting OPEC decision tomorrow. If they approved the cut extention we will see the oil price shouting up toward perhaps 58 USD, and everybody will rush to buy commodity shares, including Hibiscus , let hope.

brent 54.34 USD, contniue up,, so next Hibiscus?

today all stock are sleepy, not enough trading volume to all stocks..trader are somehow bussy doing something else..hope they dont miss the chance to invest in this counter before too late..

Patient, bottom level is now 44c 45c.. ankahilll your waiting time is extended..

in less than 1 month the brent oil price gain 5 USD, this is about 10%. Every 1 USD is equal to about 1 milion ringgit in profite for Hibisucs per quarter.

everybody including myself is waiting for teh qr result announcement, we all predic a good result, and once confirmed, there is still margin for teh share to move up i guess.

be patient, 2 c a day is also a good sign

well ankahill and RapidBeginner.. this time is different,..

Klseman, kindly share what news you are refering to? is it Sabah shell aquisition?

Brent price 54.14 up 0.97% , oil market is very good and on uptrend.

Here some news history back in feb 2017 for thise who like to know more about Hibuscus current and futur plan.
SPORT FEATURES

Search for news
Home / Business News
Spotlight on Hibiscus Petroleum
Published on: Wednesday, February 22, 2017
Kuala Lumpur: There is increased interest in Hibiscus Petroleum Bhd due to imminent regulatory approval for its propsed acquistion of a 50pc stake in four offshore oilfields in Sabah drom Shell.
Hibiscus earlier announced it had entered into a conditional sale and purchase agreement with Sabah Shell Petroleum Company Ltd and Shell Sabah Selatan Sdn Bhd to acquire Shell's entire 50pc interest in the 2011 North Sabah enhanced oil recovery production-sharing contract (PSC) for US$25 mil (RM 111mil).
The PSC comprises four producing oilfields namely, the St Joseph, South Furious, SF30, and Barton oilfields, and associated infrastructure such as pipeline infrastructure and the Labuan Crude Oil Terminal.
The purchase is subject to regulatory approval of Petroliam Nasional Bhd (Petronas) and the consent of Petronas Carigali Sdn Bhd, a 50pc joint venture partner in the PSC. If approval is gained, the acquisition is likely to be completed in the middle of the year.
Hibiscus managing director Kenneth Pereira declined to comment on the likelihood that Petronas will give its approval for the stake buy soon.
"At this stage, we are not able to provide any information on this matte as it is the subject of strict confidentiality agreements. When we receive forma notice from the regulators of the decision, we shall make necessary approved disclosures;' he told FocusM.
According to Publiclnvest, if approved, the upside for Hibiscus will be the increase in production capacity, estimated at an additional 9,000 barrels per day (bpd).
In an investor briefing presention, the group says that over the next five years, Hibiscus aims to achieve a daily production rate of 20,000bpd, and 2P (proven + probable) reserves of 100 million barrels in, existing core asset areas.
In the oil and gas sector, proven reserves have a reasonable certainty of being recovered, while probable reserves have less certainty in being recovered. Recoverable oil reserves are the amount of oil that can reasonably be recovered given current technical and economic conditions.
Pereira says currently Hibiscus' production averages about 4,000bpd from its Anasuria asset.
Production costs at the Sabah oilfield would be around RM55.10 per barrel, but Pereira says it will not be hedging future production in an effort to reduce exposure to oil price volatility.
"We have not hedged any of our future production to-date as we believe that there is some upside to oil prices in the mid-term. At this time, we are working aggressively to keep unit operating costs as low as possible without comprising safety or harming the environment," he says.
Hibiscus has said that over 271,000 barrels of oil produced from the various fields within the Anasuria cluster were, sold at a realised price of US$45.21 ( 200.76) per barrel. Current operating costs for the Anasuria asset as at September was. US$18.40 (RM81.71) per barrel of oil equivalent.
For the first quarter ended Sept 30, Hibiscus posted an increase in net profit to RM80.3 mil, from RM4.7 mil in the previous corresponding quarter. Revenue also increased to RM54.7 mil from RM245,000 at the same time last year, mainly due to the sale of oil and gas products from the Anasuria cluster.
As of Sept 30, its cash balances stood at RM17 mil, with zero gearing.
Going forward, Pereira says the group will remain focused on keeping operating costs at reasonable levels for the Anasuria asset, while also "aggressively developing some upside production opportunities".
It was previously reported that the projects which have been identified for the Anasuria cluster are scheduled for execution between mid-2017 and mid-2018. "As far as North Sabah is concerned, subject to attaining the various approvals, we would apply the same business principles; ie safely and responsibly develop the potential of the asset and provide as much disclosure as is permitted about our operating performance," he says.

ok relax my friend, we are all in this together..enjoy the week end.

Kien Fu, lookm like you are a short term trader, which is fine, but i am in investor i invest in fundamental for long term..

I am an Oil and Gas executive, there is no such late announcement, the report issuing schedule was previously planned to be issued between 23 and 26 May, in between OPEC meeting on 24 May.. good week for all..

I realy wonder, how people trad in stock if they do not understand how to calculate a profit from a very simple equation...

QR should be very good, i have followed Hibiscus since 6 month every day. jan, feb and march oil price was average at 53 USD , Hibiscus should have produce about 270000 barrels x 53 usd = 14.3 Milion USD Hibiscus share is 50%. net profit should be at least 17 milion ringgit..

brent 53.19 up +1.29%..

today closing at 0.44.

sheep, look like you are new or pretend to be new... do you have some evidence on QR result or you just having fun scaring people here?

60 milion Cash, and NO dept..oil up..production forecast for at least 20 years..about 60 milion barrels reserve..in North Sea and Australia..

Iran Likely to Back Longer OPEC-led Oil Cut if All on Board

Published in Oil Industry News on Thursday, 18 May 2017

Graphic for News Item: Iran Likely to Back Longer OPEC-led Oil Cut if All on Board

A proposal to extend an OPEC and non-OPEC supply cut for nine months is a positive idea, sources familiar with Iranian thinking said, suggesting OPEC's third-largest producer is likely to go along with such a plan if there is a consensus.

Saudi Arabia and Russia, the world's top two oil producers, agreed on Monday on the need to extend output cuts for nine months until March 2018 to erode a glut. That would be longer than the optional six-month extension first agreed.

Kuwait, a Gulf producer usually aligned with the Saudi OPEC view, said on Tuesday it supported the proposal. The Iranian position is less predictable, however, as it was the only OPEC member allowed to increase its output under the supply cut deal and holds presidential elections on Friday.

U.S. crude output fell first time in 13 weeks, supply drops. Brent price heading toward 53USD. hibiscus share should go up to 0.44 or 0.45 by today...

Betta68, i support you all the way, keep the spirit high, no worry with Hibiscus. Company with good fundamental alwayse give a good return.

Lets see who will guess the profite fir hibiscus. I guess this qr repirt will show at keast 17 milion ringgit net profite. Who can guess better?

I agree with Shahbi..too.