After taking a long breather - this counter has still not announce its QA - any hope?

Hi Guys - Any news when the QA will be out.........been holding the share for too long.

Hi guys!

All is not bad.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1633821

Page 19 of the report says it all...

"PROSPECTS OF THE GROUP (CONT’D)
In 2013, we embarked on a mission to achieve first cash flow from offshore operations for the Company by 2015 at the latest, in addition to possessing about 100 million barrels of oil equivalent (“boe”) of 2P/2C reserves / resources and production levels of 10,000 to 15,000 boe/day. We are working hard to achieve these objectives in several ways; through the development of West Seahorse, the appraisal through to production of our Oman GAS #1 discovery and by screening and bidding for producing assets where we believe we can extract more value from an asset than the current owner. We have developed our processes for screening opportunities and valuing assets and have competed to acquire a number of assets across a broad range of geographies. We are also resolute in our vision of becoming a respected independent oil company in the region and in 2014, we will continue to develop and screen for opportunities that will allow us to achieve solid cash flows by 2015.


Good luck!

TheTerminator / Foresight123 / BloomBloom - wellcome on board. Positive vibes are most welcomed.

I agree with the upside potential as oil has been discovered.

Morning guys! This forum is now becoming more interesting. A much welcome change. Look forward to next week. Should be good.

Let's hope the political situation is contained.

Happy weekend to everyone!

Rex is up 4% - Hibiscus up 10%

Hibiscus is more valuable than Rex - again - I am just highlighting facts and figures my friends!

Lets all be happy here man!

Morning guys! Exciting day ahead!

Sklyte - I can tell you this - A lot of forumers here a fed up with you and your comments. You are such a loser man. Have been told nicely to give up on the RM4 thingy and move on in life but yet day in and out your life seems to revolve around it.

Seems to be your passion now and nothing else. I can assure you flowerpower is laughing now and not you. So - please as a friend to you - put a lid to this nonsense and if you do have this share, be happy with the discovery and hope for more growth.

Got show tomorrow - good luck guys!

Hello Tessa and fortunebullz - I am logged on as I am still browsing the web for any further updates. Very exciting news indeed. Imagine what the perception of the industry on the success of the Technology. Believe news will spread like wildfire overnight.

No wonder Norway was all for it and giving them concessions after concessions and willing to fund the exploration.

Flowerpower must be throwing a coffee party somewhere................or fast asleep.

Sklyte / Valuemaster / Oilmaster - I think its time to call it a day. Game over.

Hibiscus has performed. That is all that matters now!

And I personally did consult an oil and gas senior analyst on the way to price an oil and gas counter - his view is depending on the recoverable oil reserves and how fast you want to deplete the reserves. So flowerpower assumption was 1 year depletion of reserves. That is his assumption (you can have yours). And according to him is all that possible.

And the analyst did say if you deplete the reserves in 2 years, you divide the price of share by 2 (as you produce less and your revenue and profit are adjusted accordingly) and if 3 year, by 3 and so on...............its your choice how fast you want to deplete your reserves

The same principal will apply like milking a cow - how hard you want to milk the cow and maximize you gains I suppose.

ANWAY - I am not here to challenge anybody. Time to move on.

Hope you guys have Hibiscus shares. If yes - CONGRATULATIONS TO ALL! If what flowerpower say is true, he is either one lucky person to hold shares at 75 cents for so long even after the 1st well fiasco....

Evening guys! News out in Bursa today. Hibiscus already strike oil! Second well great success. Lets hope Sona does something great soon.

Evening guys!!! The good news we ALL been much waiting for!! Frankly - I had all faith in this flower to bloom.

Now - its all exciting times ahead!

Flowerpower - I respect your perseverance in enduring all the attacks. And some were uncalled for. You deserve the praise. You are right about 2014 being a very exciting year!

The management of Hibiscus has proven to us they are capable of performing. All international companies failed, and they have done it! WELL DONE!. Today is one of those days that I am very proud to be a Malaysian!

Thank you.

p/s: Hope all the negative comments will stop now. We just need POSITIVE words. The management have proven themselves. Let them show us what else they can do. They have put it in writing in their announcement of the plans for 2014.

Morning guys! Lets hope the positive momentum continue this time and the wave is real. QA is the key.

Morning guys!!

The scene looks like a gun shootout at OK Coral!...everyone waiting for the other guys move. So something definitely happening soon.

And reading from the sudden rush of adrenalin and postings above I do agree with flowerpower that the 2nd well announcement was fully endorsed by the OMAN oil ministry. In conclusion the must have seen evidence of the oil sample itself before endorsing and approving the press release.

Their sultanate state is at risk is the press release is false so it not in their interest to release something unworthy. They a rich country and don't need bad publicity.

Evening guys! Everyone waiting for announcement....still nothing yet.

Anyone out there know what is going on or why the the reason for hold up? Today there was obvious selling pressure towards market closing. Not sure how long the selling pressure can be sustained.

Let's Hope for the best!

@rollingstone - What report? Mind sharing?

@happytrading - REX is being speculated. You can see the volume of trade. This is typical Singaporean play.

Lets hope the announcement comes out soon.

Hey Guys! seems very gloomy in KLSE today..700 counters down.

Any news on Hibiscus Well No. 2 oil testing?

Afternoon guys! Lets hope the price will stabilize soon. This madness will go away and calmness prevail.

Also the Russian conflict will end soon.

Afternoon guys! Not sure what JayaJaya meant by drop? Was he referring to Index.

Hibiscus holding. Hope announcement out soon. Anyone here heard anything?

Joe95 Hi guys! I opined that warrants are the ones that should be picked up now if anyone wants to invest. I believe warrant play will be forthcoming as it is the cheaper of the two.

Obviously the impending announcement will dictate the rate and pace of play but obviously the percentage gain will be more on the warrant. Given the fact that there are very less and less free warrants left in the market, this can be easily played up. Last week we saw heavy conversion, I would not be surprise as the days past, more and most such heavy conversions will surface.

So keep an watchful eye on them.

Evening guys! Wow ! 11 million warrants converted today. Impressive.

Still waiting for the much anticipated announcement. Hope to hear positive news early next week. Glad to see favorable closing this week.

@thser1 - not sure if you are actually asking a question or giving an answer? Is a very puzzling riddle to me.

2nd time you posted here and both times very negative comments I have noted. Is there anything in particular you want to share?

Good to see free flowing valuable information. Rig status change is a welcome development indeed plus today announcement is definitely a very bold stamp by the management team to say they mean business and they know what they are doing.

Get ready for positive developments as the seriousness can be seen when a company reject injection of at least RM185 million of pure cash. This is plain crazy or they have strike super rich!

Evening guys!!

@gerrard88 - you may be right but what is more interesting when you dwell on the announcement is that fact that they make it known that they are referencing the price or RM2.13 and said the subscription price of RM1.85 is too low.

Obviously if someone is buying big block 100 million shares he ought to get a bit of discount. Here the termination is referencing the gap in price and dilution and also is insinuating that even the price of RM2.13 is cheap. That is how I read it.

If I was not to confident with the share price and I needed the money, I would give it at RM1.85. But not this time. If I am not mistaken - Last time Hibiscus did give away CRPS in the range of RM1.65- RM1.69 , RM1.70 - RM1.80. And there was a block transfer of 10 million shares that was in the papers for RM1.78 bought by Tan Sri Arumugam (that I am confident).

So - why not sell not at RM1.85? This is higher that all the previous CRPS issued? That is an interesting observation to me.

And on the side : FLOWERPOWER - Chill please - Your motto about no contra is always noted.
SKLYTE: Chill also : Name calling is uncalled for.

Thank you.

Sklyte - I feel you need to contribute objectively here rather than just harping on the same old thing and singing the same tune.

I have read the article and I suggest you read it carefully too. Please stop being personal and let's be objective. This forum is for us to share information and to make money. So far - and excuse me for saying this - all you have been doing is saying RM4 and this Australia thing. Can you please put a stop to this!


Here are some highlights of the article :
Production and reserves
Production and reserves are strongly correlated for independents (Figure 10) and production is a better indicator of market cap than reserves. IOCs and independents are often considered to value reserves over production, but the empirical evidence suggests that production is more closely correlated with the market value of independents.

Market capitalization was regressed by class and primary product against oil and gas reserves, reserves to production ratio, and debt-equity ratio using the following relations:
CAP = a + b·Rboe + c·R/P + d·D/E
CAP = a + b·Ro + c·Rg + d·R/P + e·D/E.
where CAP is the market capitalization ($); R represents the volumes of oil (bbl), gas (cf) and heat-equivalent (boe) reserves; R/P is the reserves to production ratio (yr); and D/E is the debt equity ratio.


Everywhere it talks about production which is basically flow of oil. Flowrate is production.

So can we just be civilized and start contributing positively? I am sure this forum will most welcome positive and constructive comments.

Thank you.

Let's hope they make some sort of positive announcement quick. If negative sentiment creeps in, it will spiral downhill.

Hope for the best!

Guys - I checked with couple of my friends. In summary there are many way you can come to an estimate but if if know flow rates and have the reserves, you can definitely value the share price.

Here is from one point of view: formulation is : (daily production x profits margin x365 x PE) / number of shares = indicative share price

So flowerpower is correct.

Afternoon guys....wow! Sparks flying again....cool down!

Our counter seems to be gearing up for upward momentum. Lets all look at the positive side with positive thoughts. I always believe we should look forward and not look back. We can only learn from the past and look forward from lessons learnt.

Cheers!

Morning guys....this is why I keep asking the fundamental question. When is the QA? As with the QA we will the know the true value of our investment. Come July, it would be 1 year of listing.

As shareholder, we want maximum returns of our investment and we should be asking the right questions. I will be doing so at the AGM. Was hoping to get answers sooner but haven't gotten anywhere.

Afternoon guys!

People are playing up Sona on the news that Eddie just put up. All quiet here. I guess the up spike we witness this morning is just a knee jerk reaction. So the waiting game continues for the big announcement on the oil testing huh?

Morning guys - Sudden spike was knee jerk reaction to the announcement. A bit disappointing with the retracement but we just have to wait for the announcement of the real deal. The testing of Oil.

Apologies ...meant to say "it is the right question..." anyway....I have shares in SONA and have interest in this company and would like to see it grow too.

QA is an very important factor. Without it, we are not seeing anything yet.

No need to get emotional and personal. We are all here to make money and not lose money. I am asking because I is the right question. That's all. It is what we should be asking.

Everyone still waiting flowerpower, any idea when announcement?

I have both Hibiscus and SONA. I noticed one very clear difference. There is very huge blocks of share placed on both sides for SONA compared to Hibiscus. This begs the question. Why? If there is genuine collection, why not pick up quietly...

Hence my question again - anyone have any idea when QA is forthcoming? My worry this is again a false play and trap as both sides have such huge volume of trade...does not make sense. Only you-know-who will trade this way....

I am still waiting for QA....anyone who can give good answer will be most welcomed. This will surely spike the price upward.

Madam - There should be an announcement for the conclusion of drilling of well # 2. Hibiscus already announced on February 4 very briefly they found oil and were doing further evaluation and the oil was undergoing further testing. And the rig is still at site. No reason for rig to be at site for so long unless they have positive developments.

So - there is obvious pending announcement. And yesterday last minute spike must be leakage of information. I am guessing that they are waiting for Omani government to release the official announcement.

I read again the February 4 announcement just now and I am convinced the delay in the released of announcement after yesterday sudden spike is due to the Omani government must be tweaking the announcement - so this announcement must be a really good one and they want it be all done right as it reflects their kingdom and government and prosperity. There must be oil then. Now question is how much. This will be my bet.

Still no announcement yet. Guess they must be waiting for approval from the Oman government then. Check on the rig, still showing at site in Oman. No change of status. Still shown as drilling.

Anyone here heard anything new? Anything to update? Flowerpower?

Gut feel is announcement in around the corner. Anytime soon. I have been also monitoring REX. Same pattern there. So both side same story this time around.

Holding power is a must.

Morning guys. Still no announcement yet. Believe the spike yesterday is leading to some sort of impending announcement. Both REX and Hibiscus shot up same time.

So = good news coming out soon.

@prc4wifefe - I thought you sold and switch to SONA? You bought back Hibiscus?

Good for you rikki.

This next few days is definitely going to be very exciting by the trend of the last 1 1/2 hours of trading today. The last trading hour was pure collection. Buyers came out of nowhere. And with such low volume of 2 million shares traded it was up 13 cents.

@ rikki - I am impressed. You have a very ambitious target here.

Hello guys and girls! Any announcement yet? I checked bursa website and didn't find any.

REX website also zilt....nothing to report. Anyone? Any luck?

FLOWERPOWER!!!!! YOU THE MAN! I respect you.

Something brewing now.....collection going on now.. this is good! Healthy collection. With very steady volume!

Morning guys! Wow! Very quiet today. Waiting game. Checked on REX seems the same.

Only notable item was REX announced yesterday that their CEO exercised his ESOS. So that is a positive announcement considering the price of shares is at 60 cents.

@ investwise - If I am not mistaken - I have read somewhere in the Bursa announcements that major investors bought share above RM1,80 and some bought at RM1.85 in big lots late last year (maybe last quarter). Summary - I doubt very much the counter will reach the levels your are expecting.

On a brighter side - there is a sudden surge of posting now Good to see that. Towards the end of last week, the postings were slowly disappearing.