Only expected to increase further capacity in 2018 to about 12K bbls/day. Got to wait. Actually this type of oil assets is like US shale oil. Same constraint and issues; probably similar cost structure. The difference is that they engage China contractors, cheaper. Hopefully tech can get from US which is the best.

Legally, the authorised placement should self terminate when next AGM due?

From all available disclosures, my simulation shows that its possible to avoid placements for next year provided that: most shareholders have stomach for higher debt (approx 10%pa interest), have good cashflow (assuming average output 5K bbls/day from stated max 6.5K bbls/day capacity), oil price above USD50 without cost increase and capex defer by about 6mths. If can get a bank facility to the tune of RM50M, even better. There is no real need to rush to settle existing debts within 12 mths of spa execution. If the oil price trend remain bullish, this is the best decision by mgt for short term strength of share price. But will they do it? Alternatively, either cashflow not there or major shareholders wants cheap shares before pushing, then you will see maximum RM180M placement. Place your bet.

It has to be a GO since they dont hold 90% or more of shares. Anyway base on average price premium, a GO will not be more than 40.0c. likely to be 35.0c +/- range.

cya guys at agm on 16mar

pls sell sell, so i can buy buy cheaper ;-)

close end of 2015 in the money. yay !!!

its ironical funny. the real investors had no fear when investment are made with solid knowledge that gives consistent superior return despite market conditions. only those who punt had lots to fear and try to psyche themselves or others.Good investing and trading to all for 2016 :-)

vol almost dry up. Just waiting for newsflow ... then shd move. can be anytime until 2 years.

Yup. for traders can stay out. Vol drying out as expected. Wait for newsflow before coming back. As for us investor, waiting game. Huge safety margin, min target return for next 3 years is 46c + interest. Further upside if newsflow positive and traders jump in. If benchmark against FD, MTN and bonds: superior return. Any investor wt such profile shd invest.

nice. see you guys in egm or agm to vote NO to get our trust fund back. looking forward to trust fund of 46c/share + interest ;-)

ha ha ... i am buying lots to vote against QA to get the money from trust fund. Or sell out at run up of share price above 46c. Anyway cheap money for spac owner, free money if they scoop up all shares below 46c. And they already made money from free warrants at 0 cost.

I suppose most are traders not investors to use perception as Rule No 1. But traders are very important for liquidity. Benjamin Graham is the sifu for alot of present great investors who consistently beat the market.

So many ppl still dont know how spac work. sc had also done revision to give more protection to investors. Read e-prospectus page 47 item3, 92% of money raise will be in interest earning trust account which is 46c na per share. Only after QA diluted to 39c na.So if you play save, just vote against qa and get your money back from trust account which should be greater than 46c/share since it has interest income. At 38.5c, no brainer for 10% per year return for nxt 3 years (max). QA can come in earlier. My flagship investment for next 2 years. Anyhow, Rule no 1, dont invest in business you dont know. Happy investing.