Sabah oil filed acquisition is 99% a fact..we just have to wait for the official announcement.

it may be related, as it allow Hibiscus to proceed with its exploration and drilling in Australia in the future..

The Sea lion was abandoned a few years ago, but the West Sea horse field is still on

here is what Hibiscus own in Australia, get it from its website:
Asset Name: VIC/L31 (West Seahorse Field)

Effective Interest: 100% (Hibiscus is Concession operator)

Acquisition Date: January 2013

Licence type: Production License

Reserves: 8.0 MMbbls of 2P + 2C Oil Reserves



Asset Name: VIC/P57

Effective Interest: 78.3% (Hibiscus is Concession Operator)

Acquisition Date: January 2013

Licence Type: Exploration Permit

Water Depth/Size: Up to 150m/460km2



Hibiscus Petroleum holds substantial equity interest and is the Operator of two licences – VIC/L31 and VIC/P57 – in Australia via our wholly-owned subsidiary, Carnarvon Hibiscus Pty Ltd (CHPL). Both licences are located offshore, in shallow water, in the Gippsland Basin and are core assets to the company. As the Operator, we have a high level of operational and financial control and we are responsible for the entire planning and execution of all activities under these licences.



The VIC/L31 production licence includes the West Seahorse discovered field, whilst the VIC/P57 exploration licence comprises several geologically exciting prospects.



The development of the West Seahorse field has been a key objective of our company due to the near term visibility on the development and subsequently, production of this field. In the current low and volatile oil price environment, the Company has deferred the Final Investment Decision for the West Seahorse development project. As for the VIC/P57 permit, in accordance with our obligations under the terms of the permit, CHPL has recently drilled an exploration well in the Sea Lion prospect in the second quarter of 2015, demonstrating our ability to execute drilling operations offshore Australia whilst maintaining a good HSE track record.



For more information, please refer to the latest Investor Presentation.

Hey guys, here is a good news comming from Australia, the Australian goverment have lfted the ban on gas drilling in Australia, as you probable know , Hibiscus own couple of drilling licenses in Autralia (go to Hibiscus web site), i guess this is the best news sofar today..

https://www.oilandgaspeople.com/news/13697/australian-deputy-pm-flags-lifting-gas-drilling-bans/

no kidding, i am serious about that.

my target price for first batch selling is 0.585

the USA may go to war to achiev this.. haha, hope not..peace..

i Am not letting go at any price, i am a long term investor, not bother too mutch from daily share price..I look ahead at least 3 month at a time.. future look bright to me what concern oil price and oil companyshares.. with the USA forein secretary (former exxon mobile CEO) the increase in oil price is a fact sooner or later..

Kakashi, I am NOT selling, in contrary, i am still buying..

Hibiscus back as one of Top active.. may reach the top by end of today..keep going...

20 Milion share already traded today up to know, good volume, look promising..

for the last 10 days, the Crude oil price is steady and stable between 50 USD and 52 USD, this is actualy very good, as it will lead to less Shale production and maitain a good earning for Hibiscus for a long term..

OPEC wil meet again on 24 March this Friday to discuss the extention of production cut, this may lead to improvement in Hibiscus share price if teh cut to be extended for anotehr 6 month. Kuwait, Irag, Iran ans the Saudi already thinking about it, also Russia may do the same...., Libia and Nigeria production already down do to internal unrest, so,, i see a good news here..chears..

Brent crude oil is up now, 51.87 USD, high volume of Hibiscus share traded this mroning, lets hope these is an uptrend mode today, and everyday from now on..stay positive.

I wonder who is selling at 0.395? and why? is there any news announced we are not aware about?

Kakashi, Yes i bought Hib at 0.41, i am satisfy now. the average brent oil price during Jan,Feb and March will be arround 55 USD and this is 10 USD more then previous quarter, so also not to forget the USD value against the Ringgit is also higher, so i realy expect the next QR will show arround 35% higher profit then teh previous one 9this is about 17 Milion ringgit net profit..as long as the production and cost remain the same, i am not really worry about the current share price, it is undervalued and sooner or later the operator will realise that..grab yours now befor too late, THE QR result is expected to be announced in Mid April or late April.

I am buying at 0.410 at this moment and its not matching, no one is willing to sell cheap..big support at 0.4

Perisai is on the move through retructuring his business.

derrickinvestor.. he bough it 3 days ago, so this does not mean mutch.. i guess.

Yipipang, i guess it take time for teh reader to understand teh news as quick as we might be..I think its best to keep teh oil price between 50 and 52 to reduce oversupply and make it more stable rather than pushing it up to 60 and dropping it back to 50 or less and visa versa.. no one want that, so the market need to be stable before looking to any increase in oil price. at 50 USD Hibiscus can generate a confertable profite similar or even higher than previous QR, so it should means an increase of 5 to 7 cent as minimum to the share value..with minimum effort.

yeh, it may take some times as operator are bussy trading in technology and construction, neverless, Monday follow last Friday trend usualy..lets see when the news pick up there might be some positive movement tomorrow , lets hope so.

Yeh, operator are still hungry to collect at cheap price 0.415, no more will to sell below this level..time to move upward, catch as much as you can before too late..

Shahbj, I don't think the oil price will fall that much, simply because the fact is that USA want to stimulate the economy and target a higher growth for the comming years, higher growth demand more commodity to be consumed, this is why USA is increasing the production, drilling..etc.. however the oil consumption will also increase, so the stock pile is either remain the same or even get less or slightly increase..therefore the market will stabilize itself sooner or later, and i guess the price of crude oil is now stabilized between 50 and 52 USD.. at least for the comming 3 to 4 month.

Hibiscus share is undervalued at this price 0.415.

Oil price will go up, Saudi OPEC will agree on oil cut extention.
https://www.oilandgaspeople.com/news/13694/crude-set-for-weekly-gain-as-saudis-willing-to-extend-curbs/

Market is stabilized now with the US FED intrest rate settle, Oil is more and more stabilized between 50 and 52, So Oil company now they can visulize their futur prospective and plans. Hibiscus share will slowly move up and down, but the trend is upward more liekely.

thks Calvin882, i guess today is a bit slow based on teh morining session volume, let wait and see the afternoon session, end of teh week what will bring..I have bough some at 0.42, happy to keep toping up..

hi Calvin882, so what i understand from yoru link is that Hibiscus can go up to 0.79 RM.
Quote
Narrowing in a bit closer, the 5 month price index is 1.79167, the 3 month is 1.34375, and the 1 month is currently 0.79630.
Unquote..

Is my understanding correct? it look promissing and feasable as long as th oil price remain above 50USD..looking fwd to see that happening in one month from now.

Anotehr good news from Iran on caping the oil production to 3.8Milionb. This will also help teh oil price to move up.
https://www.oilandgaspeople.com/news/13662/iran-to-keep-oil-cap-at-38-million-barrels-a-day-in-second-half-2017/

Oil Stock pile decline, means Oil price will move up, so Hibiscus as well. see link
https://www.bloomberg.com/news/articles/2017-03-14/oil-gains-as-api-said-to-report-u-s-crude-stockpiles-decrease

Hibiscus will not enter in a buy option for Sabah with Shell unless he is sure that Petronas is given a preliminary approval, guys be real, Hibiscus paid 25MUSD to Shell. Shell need this money to reduce his 30Bilion USD dept. So Hibiscus will get Shell help as well to get it approved from Petronas. I am positive about that..

indeed, its is a buy call

Saudi are storing the oil, and reducing teh supply, oil will rebound as predicted 2 days ago..haha

thinkfirst...keep thinking in DNeX and leave this blog to Hibisicus..

this is Hibiscus blog...show respect

superman....you fly there to your iwcity...hahah

I am not worry about oil price, just remmember Hibiscus share value in 2014 and 2015 was between 1.6 RM and 1RM, when oil price was average at 27 USD !!...Hibiscus manage to make money in tehse very difficult time, and did not end up in dept.. yes the share price was falling but you can correlate that with current oil price and remmember Hibiscus in 2014 & 2015 did not have ANASURIA FPSO, now he do and he is producing oil at average of 4500 barrel a day..

indeed, time to top up as long as Hibiscus is under 0.5..

oil price in on the move upward now Brent 51.42 USD/bbl

I see no reason why Hibiscus share so sundenly fall about 18 %, I need to remind those who they think that they can munipulate the share price using un aproved method, they will be reported and brought to justice, this is not a game you play, any fabricated news will be followed and the those who posted it will be cought and brought to justice immidiatly. Any trader who do not obey to teh law of trading will be under watch and will be punnish very hard..

Crude oil brent is now steady above 51, OPEC achieve its target to teach the US not to add more Rigs, the message its clear, oil price will not go below 50 - 51 level. With this level Hibiscus still make a confortable profite (cost of 1 barel to produce in North Sea is less than 13 USD), with Hibiscus production per day is arround 4500 barels and multipluy by teh exchange rate USD/MYR now is also much higher, you do the calculation and youll see, that the comming QR profite is still n the rize.. HIBISCUS share is very cheap now,, thsi week the oil price will be on uptrend mode, as well as Hibiscus.. this is my guess.

Sabah oilfield decision could be earlier than though, taking teh example form Petronas and Saudi Aramco JV for RAPID, Petronas show willingness to share the market with others so why not to shar eit wit Hibiscus a Malaysian oil and Gas company, good for Malaysia and Malaysian..think positive, Hibiscus fundamental still in tackt, Hibiscus oil production cost per barrel has been decrease significantly to 13 USD only comparing with previous QR when it was 21 USD..rebound is on the way..sooner then you think, at least this is my point of view.

bough eeven more, have no issue with topping up, soon will rebound, those who sell will feel the pain, operator are not stuppid to push teh share down even if tehy bough milions and milions at 0.18 or else, what do they gain except getting you sell your share with lost and they will eat these up..haha.. better hold on to your share if you can afford or else just sell it to the operator they would love to buy it from you..

I am holding my share regardless the value..haha..

In my opinion, the reason why the inventory of crude oil of last week show a surge is that the refinery capacity was not sufficient to consume enough, read thsi article.. so soon the refinery will have to pump out and eat up all the additional stock.. oil price will rebound up. sooner than expected.
https://www.oilandgaspeople.com/news/13623/us-crude-stockpiles-soar-gasoline-inventory-plunges/

Hibiscus need our support, so lets not give up, they are working very hard to establish a first class oil and gas company, the first independent Malaysian oil and gas company, they do deserve our support.

As long as no negative announcement from Hibiscus we all assume that business as usual and Hibiscus is still a healthy company, so no worry for a long term investment.

The drop in oil price is a lesson learned for US shale production to limit the increase of new rigs. OPEC is playing a game here, oil price will simply rebound soon...

reverse..