Patience is the virtue for our national carrier -wait for the white knight to appear...........

Still resting, waiting to get up soon...................

Up, up and away.................

Re-load some today. Think is good considering will get back 67.5 cents no matter what. Sona was a very bad mistake for me...................

Rock steady.....................

King of stock please don't mislead people - I quote you on June 5, you already said it would break 70 cents, instead it went south and drop to 57 cents. Please this is peoples hard earn money you are talking about...............


Quote of king of stock...................

"Stock: [SONA]: SONA PETROLEUM BERHAD

Jun 5, 2014 10:09 AM | Report Abuse

I tell u all areally today start king shark attack...break 70sen "

What I am very disappointed with is WHY PUT ALL YOUR EGGS in one basket. No prudent management will do that. Do you guys put all your money in one stock? How come these management did that and on top of that want to borrow money? What's the hurry of getting a QA is it? Cannot get a smaller QA first and get out of SPAC and then for a bigger venture. Why greedy? This is playing with other peoples money, and the risk is too high and the investment bad, that is why the prudent funds and investors run away -see the volume these two days you know already..............

Qieen - don't let your emotions take the better of you - the announcement already out - seek EXPERT advise on what it means - go and see an expert in the Oil and Gas industry and he will tell you - and the fact and figures never lie. Don't just hold for the sake you are holding shares. A lot of shares have become worthless before..............

Anyone considered here margin calls.....................

Sklyte - I think you have done well advising here. I too have said it. Still bleeding strongly. Now 53 cents and still dumping going on at the expense of us traders. These investors and funds have no mercy. Once they have sold, this counter will go to sleep for a long time................................

considering what happened to Sona after they announce the QA, Hibiscus is a GEM. Go and read Sona

Now 53.5 - How low before you guys wake up? This is truly a dumping pattern by the funds and investors. Don't be fooled. There is no saving grace anymore. You keep averaging down means you are only helping them to get out faster..............................

Bleeding - Those who bought yesterday at 57 cents and were happy - see today. The pressure is on selling. You should think who is selling - done get emotional - and don't lose you hard earn money and give it to rich people. Today already 54 cents and still bleeding.....

News out - they already announce what try plan to do with your money. Worst still they have put all the eggs in one basket and risk everything. I think that also shows laziness as cash is king and they could have taken more stakes to leverage risk. Now all is knows. Debts also known, production also know, the only thing not know is the big risk on drilling, which even big companies fail, that is why salamander happily selling and paying their shareholders, and over here the price going down. What else is there to look for? All news out already? All money used and worst still more money borrowed............

Sad to see people quarrel here but the rich get richer with your hard earn money........

Sklyte is correct.................................

If those who has been long in this market will know, shark and funds are waiting for volume to build up to offload. That is why no movement. The minute huge buyers appear they will offload and once they have completed they mission, this counter will go to sleep. You will see..............

Healthy closing......

Anyway - you guys have been advised. I am not here to argue with anyone. We are all here to make money and not to lose money. I wish I had listen to my gut feel today and sold earlier. It is your money your choice. I wish all of you the very best. I got this feeling that if you want to buy cheap counter, you will get cheap cheap. as it will soon be cheaper as the funds will keep selling when they see volume....SONA has place all the eggs in one basket, and it is not a good deal by todays performance...............

And for the record capobainco I don't own Hibiscus share ( I may buy some after this!). But their portfolio is very much impressive and diversified. They have mitigated their risk very well! Why not you read their investor briefing. Then you will know why people pay so much for their share price.................

http://www.hibiscuspetroleum.com/download/pdf/media/news/Investor%20Presentation_April%202014%20R1.pdf

Happy trading.................

capobianco - I think you need to check your emotions and read the announcement very carefully. They plan to drill with the proceed of the producing asset, and that is where the huge risk lies. Anyway, today heavy volume selldown is just the tip of the iceberg. More will be coming.........

Sorry to pour cold water on this. The numbers are already out. The counter went down with HEAVY volume. It was not traders or small timers that sold. It was INVESTORS and FUND MANAGERS who sold with heavy volume dumping. Go and see the pattern carefully. Numbers never lie. So you guys keep speculating and guessing what is going to happen with your hard earn money. By the time you figure it out, they already have left and leave you high and dry. Also thing one more thing - if it was such a good deal, why would someone want to sell their producing asset. Would you sell your house, unless you find the price is very good? So, the deal is good only for the seller. Remember this is SPAC. It is not SONA money. It is the public money and initial investor money that is going to be used. So they management can afford to make mistake as they still got 10% of the proceed of initial funds to play with......

It is sometime very wise to cut lost and leave emotions behind. Crunching numbers not knowing what you going to find when drilling for oil is pure gambling and leaving your hard earn money in novices hand. Once again, don't fool yourself....................

Maybe I will buy this share. Sona got hit badly today...........

Also - if the deal is so good - BIG SHARKS will eat first and leave the small fishes the leftover only to catch.........

My rational view is very simple. Big investors and fund managers who are very well informed of what is going on sold down today after the announcement in a big way. WHY? The price is very cheap compared to Hibiscus. By right, if the deal is so good, they should be buying heavily. Why did they sell? They know something is bad...............

And what if they hit dry wells? They don't have any high tech technology that Hibiscus have that can find oil. Drilling is very expensive. What if they drill and all the money spent and they did not find oil. Finding oil is 15% success using conventional method. Hibiscus Rex claim they can have 85% success. Already now got borrowing and debt of RM400 million and interest to start with and if spend more money and did not find oil, that is a very quick dead to bankruptcy. I think that is why the big investor who know this sold down today after lunch. If not 60 cents is still cheap what, why sell? Why selling now.............

Word of caution - Heavy volume and down AFTER the very important announcement out - some of the big investors and fund managers who know the business very well already done the valuation and are pulling out, otherwise, why down with heavy volume. Don't let your emotions get the better of you. Think wisely as once money gone very difficult to earn back....................

More dumping coming.....................

I agree with sklyte, need to cut loss, very sad........................

Calculations and number crunching by rocket scientist and smartest people here don't carry any weight, bottom line, the price of the share speak for itself after the announcement what the value of the asset is. I also got caught this time, should have followed my gut instinct..........................

Investment strategy is wrong.............

Back on track.........................

What is realistic target price with this HOA..................

Still holding strong even market down sharply...............

At least will be good for us to know what is being discussed................

Been sleeping for too long long. When going to wake up..................

Next target please............

Lots of people in this forum come up with useless and brainless comments, with no value add, no wonder counter down everyday.............

Again, national carrier. Government will not let it go down. Too much pride at stake. Waiting for White Knight....................

Any latest news.................

Can go down further, trade with care.................

What have they identified? Mind sharing..................

Holding steady, upside potential intact.......

Down..................not a good sign....

Star still have loyal supporter............

QA should be coming soon...........

Coffee boy - tea lady - no more promoter already, even latest promoters beh and valuemaster also koyak..........

Next week got action again.....

Close shop move to next counter next week...

Wah! Close lowest for the week. Now one promoter also want to cut. Only leaving sole survivor promoter. Sure die if he only buy when everyone selling.......

End game already........