0.65 reasonable entry...lucky I sold at 1.20. Will wait for u again...

And if a company like sona can secure a malaysian or indonesian oil field....even the chinese might try to buy in a controlling block...means share price sure move...and could be fast too...

Ez lah for sona...sure qa and find oil soon. My friend informed me in the many snap shots of satellite images shared in the search of MH370...many were amazed at the number of oil fields seen captured in the south china ocean, gulf of thailand, indian ocean & borneo/indonesian coastline. This is also the so called secrets governments want to hide as some islands and ocean borders are in dispute. Once mh370 is found...we will surely see a lot more interest in oil exploration activities.

If pilot suicide wonder if insurance will fully cover...I think airline might need to cough out more. So far as I know only 2 previous cases concluded as pilot suicide - Silk Air and Egypt Air. Also see that most brokage houses got sell call & lower target of $0.20 for MAS.Pity of how one of the better airlines in the world is now tainted with such misfortunes & scandals. I recalled reading a few previous news articles about problems with its unions and sackings of members whom went against management. Hope this is a wake up call for them to all come together and emerge as a stronger team.

@siangtcs..the volumes u see these 10 trading days are nibblers and contra players. If you look back the big push 3 weeks or so back, majority was taken up. Everyone has different preferences and risk tolerances. QA paperwork takes time, a sudden big surge upwards with no release of contra volume could indicate an inside leak, a group close to the deal getting excited that an announcement is near and wants to be first in line. So if there is another such surge with a bit more steam, it might be 2-3 weeks till an announcement. Oil is always a one way ticket...up!. But like quite a few of us here, we all hope to get in cheap. That also depends on your own defination and how it works to avg your portfolio. My initial investment for the mother was 40.5 cent and 25 cent for the son. Averaging now at 45 for the mother and 28 son. I not only hold but keep nibbling... :)

@Trioloo86...don't you think they'll wait for a better time to announce the QA? Don't think they have made a firm decision on going for one of the few potential asset purchases in review right?...but agree that will never know when the announcement takes place and that the current price is cheap in comparison to its potential upside in the coming months after QA announcement...

park off and on around 1.18 - 1.20, no sellers....switched to BJ Food for long term...

bet nothing's gonna happen until mid April. Would probably be floating around the 51-54cent range. Few days already Que below cannot get anything. Anyone with news to indicate otherwise?

It might not go back to 60cents this week buy could touch 58 cents. Few investors switching over from O&G services counters whom might be at their price peak considering the current softness in market rates.

...must be some rookie investor trying to hold up the closing price. whomever it might be...do continue your support....Hahaha..

It might hit 1.90 in the next 2 weeks. Jollibean is contributing S$1k per day per store js selling soya bean drinks...with the high fx rate, upside for Bj Foods. Its expanding into Indonesia with Aeon and in Brunei with 5 starbucks outlets....Brahims already at PE 27...BjFood lagging at PE18 only...Food industry PE abt 25 with growth prospects....collecting more for years to come. :)

Can't wait for next week....managed to accumulate more at these low prices...:)...

What's happening on 7th March? this friday...

Nice show..time to collect...:), just means more upside later, good luck contra players!!

Again buy call target 2.30...in the edge..

James, again with you...thoughts aligned. I know that Malaysian O&G players are upping their game and most are networked together for total solutions. All downstream rig owners, service providers, MRO work services would back a Malaysian SPAC for an oil production asset purchase. Think about it....its all about connecting in the whole game. One gets the field, 5 companies get the work for supply of vessels, services, rigs, maintenance.....etc. So imagine the multiplication ....no need to worry what price it touches this week or next, just plan to liquidate north of RM1.50 and be happy....upon QA...that's why i am confident if its solid up today after 4, it'll trend upwards from now...

Positive...next brahims...target 2.10

Tomorrow judgement day...watch it after 4pm. ;)

I was in SH over the weekend and saw the CNN interview with Dato' Mokhzani about Malaysian O&G companies and the projects, opportunities in the region...according to him a lot of foreign interest in the expertise and capabilitites of these malaysian companies. I believe this is the reason for the spike in O&G counter interest.....Sona included as the whole supply chain is connected. Good chance of a QA....so price will keep moving up.....

Wah...got another good news...merc e class discount 51k. Latest spec clear 2013 car....lets see if sona is my lottery ticket...this horsey year very ong.

Warrant gap will close upon QA announcement. Might try 37 by friday...

0.60 mother & 0.40 son within sight..gonna keep moving. Very positive news on regional O&G plays...

..gauge it by Wed or Thursday..dont need to panic

undervalued couldbe....but more like sensative sikit la....every time someone comments its a shit stock, it'll suddenly wake up.....hahahah. touched 1.29 also....wah.....still shit stock....maybe nx week park sell 1.50...mana tau kena.....

http://www.bakermckenzie.com/files/Uploads/Documents/Global%20EMI/ar_emi_purchasesaleagreement_jul12.pdf

In case anyone is interested in a little bedtime story......you'll understand why a QA announcement might take more time for a production asset....Happy reading..:)

stable today as contra players probably roll over...today should be green, worry abt tuesday...for production asset QA paperwork takes time due to concession agreements, reassignments.. govt approvals, environmental liabilities....prod sharing contracts, rig charters.....etc. lets watch for news in the next few weeks...

becoming shit stock liao....should have put more in sona...

It might touch 0.60 in the coming days...but the legal paperwork might take a few weeks, ...after that its sky's the limit....lets see if Sona can fly to space first or Richard Branson's Virgin Galactic takes off first in 2014.....hahaha....watch the show!

JamesRogers....u the man! Well said, but lets down play it a little....some ppl still want to collect at this level u know...I am pretty confident that the QA will yield the perfect asset for a co like Sona. In fact there has been a few production assets changing hands in the last 3 months, and more to come as the big oil boys are rationalizing their stakes on concessions and markets. Most of the EU and US companies are trimming their < 30% concession stakes and cashing them out, not so much for a profit but for a better focus on concessions they have decision rights on. For US the whole Shale revolution has turned the focus inland and away from foreign offshore plays.

This is also the perfect time as jackrig charters are at the down lows. Due to newer and better technology rigs coming online this year. So cost will go down ultimately as well.

Add it all up....++++++ for SONA!!.

I'm parked and waiting.....throw some to me la...

If sona buys something like this...easily $1.20 share price...its a production asset....quite a few on the mkt..

Business Summary

Over 52,000 acres for sale in the Eagle Ford, Texas.

* 38 million barrels of oil proven;
* 500 million barrels of oil probable
* The asking price of $190 million covers the total cost of developing the lease;
* The buyer gets 50 wells added to the lease on the zones already mapped ($3.8 million per well).
* Each well capable of producing 450+ BOPD
* 1 capped well currently on the property
* The price includes the leases, all the wells that will be drilled, the rigs, the insurance, any re-works that may need to be done, the employees (the entire operation infrastructure etc) 

* Asking $190 million

Ya..see the support move up frm 25 to 25.5. Hopefully one more u-turn for me...come back down..I'm waiting

Better keep the price low..can keep accumulating

Some assets in angola up for sale & changing hands. Not sure if sona has part of the action...

see some buying interest today...think after CNY will start to move

What is the TP for PNEPCB?

Floor price of 0.25 is corrected....tested for weeks, it hit 25 a few times but I never was lucky enough to get any...at 25.5 cent, you might buy and keep. It'll only go north with time as more ppl get confident that QA is coming and want to buy for x2, x3 or even x4 like hibiscus....;)

>harvard57....Sona I know....but what's with PNEPCB? short play but no more volume....Printed board biz very competitive and slow la...high inventory and slow cash turns.

Ya...good results and better prospects for this counter....cause it has a 23yr concession on maintenance, upgrades and expansion of the UiTM campus. Not many ppl aware. Moreover, imagine with the Sg Buloh land sale opening up, more govt facilities like polis, bomba, schools...etc needed. They have the right bumi license to bid for those jobs. Big shareholders connections sure this counter will Ong for time to come. Hope it can stay at this level for sometime...i still want to accumulate...hahaha..

Right on JR. Have been accumulating. I also see the current topsy situation with equities and the state of the economy as an opportunity for a company like sona with the $550M cash on hand.

Market Sentiment all over bad, correct, no doubt. Eveyone is pulling out of risky investments but that also means opportunity for SPAC. Reason is in a panic market an owner of a concession also scared the opportunity to find an investor takes longer and pricing might not be in his ball park. Not every tom, dick and harry would want to jump in. Good example is Hibiscus. Listed in 2011. World Economy still uncertain QE being executed in US, EU economy in crisis. QA with Lime in Oct'11...EU still uncertain. One year later and maybe for the same price., they only get 20% of Lime. Cash is Indeed KING....SONA has RM550M!.

Haha...guess I was right. Iafx u are right too....its not good news at all. It sets the tone for future fund raising exercise. Looking at the balance sheet they need to get funds cheaper and fast!.

Datokim...when they gonna start the action? Nx Monday? at this price, can't go wrong....going in...kiasu already que in system.

saw report sumatec inland oilfield hit oil. But a bit puzzled by the 150bpd figure. I thought would be more like in the low thousand(s), not expecting the 10-20k bpd from big boys. profit only abt $200k/mth after cost..

Datokim....I think this yr no CNY rally la..u go out and see ppl sell orange also no mood. Price high, taste sour..like our stock mkt lor.

wfa78 - if indeed sona mgt needs to take cue from this blog...better sell and run. For all you know they could be working on something. But bear in mind ya, this means QA announcement in Sept'14 only.

I won't be suprised that the next announcement made is a big debt restructuring. Last financials 1) $1.4b capatilized in their balance sheet as Goodwill and intangible assets. This is up by RM90M frm 1 year before.
2) $700M in short term debt
3) WIP/unbilled orders of $390M
4) Receivables up by RM80M, cash down.
5) New EU220M loan, note the financing cost would hit the books from Q1. MYR weakening meaning more Fx loss.

If this was my company, I won't privatise. Best to issue rights with bonus shares and free warrants as sweetener. They have enough in the reserves for it. ;)

BullBear...you might be right...its back to the future for XDL. I am predicting a low in the high teens tmrw....wait for weekend edge report on this stock.

So indirectly if you bought 12,000 shares at say 0.25, and subscribed to the rights, selling at 0.30 now makes u RM600 gross without brokage/fees. Assuming the open on 27th is at 0.25 and you sell the further 7k shares and warrant, you gain a further RM770 gross. adjust for the warrant price which might be lower than 0.14, still gain overall, min also nett $1k
No wonder all running to the bank...

This explains it:

Dissecting the exercise, existing shareholder of XDL holding 12 shares would have to fork out a total of RM1.40 for the four rights shares. The same shareholder would be entitled to three free warrants, which at its current price of 14 sen per warrant, carries a value of 42 sen, theoretically bringing down the said shareholder’s cost to 98 sen.

And if the three bonus shares are added to the calculation, then the effective acquisition price of the seven new shares of XDL would work out to a paltry 14 sen each, indicating a 68% discount based on yesterday’s closing price of 44 sen.

So many shares hitting the market at 14 sen.....I better park at 10 sen....hahah