@Brutus121 I would say because of the shaky outlook on the future of world oil prices. The effect from yesterday's Russia-Saudi pact more or less pushed it up a bit for a little while . The Reach team is facing a very daunting task of convincing the shareholders that oil price will improve as opposed to the Hibiscus era when oil prices were around 80-100++ per barrel. Hence people were flocking to it. The OPEC and non OPEC meeting in Algeria in late September and the speculation on oil prices leading up to it, will affect the outcome of EGM (in October).

Rohank71, I think you got it wrong. In the video, Shahul said Reach has got another year to go . If this asset is rejected by the shareholders, Reach has got another one that they are willing to try. He is confident that the shareholders are in this for a longer term gains. No where did he say he is confident that shareholders will approve the second asset. In a ln earlier interview, Shahul said Reach had 40 candidates, so...Shahul is an old man. Oh my if he's willing to go through all of that all over again

@sweetkeledek a very good idea indeed. I did a very very very quick runthrough some of the Mie holding company's disclosures. It seems they paid 170 mill USD for the asset in 2011. Interesting. Correct me if I'm wrong though. I didn't go into the details just yet. Will try to when I got the chance.

Good one hankc. Personally I would love to see more 'strong', 'good quality, genuine' counters on KLCI. Not just ones driven by a certain parties or goreng only. At the moment, I saw that opportunity in Reach amongst other upcoming ones (fgv is a genuine turnaround according to certain pundits). I wonder what would the Kazak plant price be if it were offered during the high 100+ per barrel times, for argument sake.

One of the main differences between this SPAC and the rest of the SPAC is its shariah compliant status. Hmmm who knows they might be able to attract more local giants to join in. All the best to the Reach team. Risk vs reward.

Hehe at this stage...after quite some time looking for a suitable project, if Reach doesn't fight 'to the death' to get the 75% yes, what a massive waste of effort and time and money to get up to now. This is the last SPAC, could be one of the potential EPF shariah fund candidates, the proposed asset acquired when oil is bottoming, and so many potentials. Note: I'm not denying the risks involved :). All the best to everyone.

@GP01 if you look at the sell queue, there's huge number at 0.69. Looks like either it's a price blocking attempt or just some party trying to sell of whatever shares they have. Either way retailers are usually scared when they see that.

@Kareemabduljabbar easy. There are a few factors taken into account in order to calculate the actual value of a warrant. Mainly, time until expiry and the exercise price. If we put aside the time until expiry..because the rule to calculate based on that is a mixed of theories, we are left with the exercise price. The exercise price is 75 cents. At the moment the warrant should worth nothing. Exercise price is wayyy more than the mother's current price. The fair value of a warrant should be the difference between these 2 prices. On other counters, people buy it because of the anticipation that the mother price will move to a certain level within a certain period of time. As for Reach, the determining factor is the SC approval and the big meeting.

@rohank71 I already bought some. And I'm preparing to buy more once what Mak Jemah said, happens. From my point of view, it really is up to us whether we want to buy or not. I read the information they shared through the website and the news reported up to now, personally, with my limited knowledge in the O&G industry, I thought the deal was a really good one. Btw, there are a lot of news on this SPAC, from Reach having meetings with the yield investors, to TH considering to increase their stake up to 19%. If one is really good at reading charts, they can probably study the history of the movement of the oil prices since the earlier years to convince themselves further. You know, like, speculate whether this cycle of oil prices bottoming is really coming to an end or the opposite.

If this deal didn't go through, (hopefully it did), one of the rules of investing in stock market comes to mind - only invest the money that you are willing to lose. Harsh, but that's how it is

Based on Mak Jemah's comment, once SC approved, PNB will jump into the scene. If this happens, this might, be the push required to get the yes for the QA during 'D' meeting.

Nice discussion ladies and gents :). Thank you for the info.

The recent movement of the oil prices caused investors to be quite apprehensive and most analysts are not too optimistic about the future prospect. Plus no positive updates from Reach's side is not helping.

@pong7 hehe very. There was a link here somewhere about Reach's potential of becoming like one of the 7 sisters. Might sound a bit too much to some, but if indeed this particular QA's potential is anywhere close to that, it would not be very wise to let the chance slip through. We'll see next week. Oh my.

http://uk.investing.com/news/commodities-news/oil-rally-to-resume-later-this-year,-demand-to-offset-glut---reuters-poll-118066 I've just finished reading this and apparently after the market closed, the latest news for Reach is Credit Suisse Group AG acquired a few millions more units. Exciting? In a way, yeah. It's like a very slow game of chess. /sweat

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5151909 what will Reach do? This is exciting.

Piqued* my interest. Pardon me.

I applaud RichCiliPadi's positivity. His and a few other comments really peaked my interest in this counter. Will be interesting to see what news is gonna come out in the coming few days. Saw big volumes being sold in the last trading hour.

Wow...after reading through the comments and Reach's profile/objectives...it feels kind of a big loss for this country if this QA didn't go through. Especially after reading that 7 sisters write up.