Penta TA wise looks like gonna breakout

Also must question why tan sri buying . Maybe got something coming up. Hmm

MGO low price because it's either tkh last purchase price or avg price. Like I mentioned , don't think he wants to take over. For my opinion price was deliberately pushed down for tkh to accumulate and trigger the mgo. He knows shareholders won't sell at that low price. If tkh accumulated at high price and trigger mgo then more likely for shareholders to sell to him.

My 2 cents is price will fly and offer will be invalid. Alot of conspiracy? Malaysia boleh lol. Anyway downside risk 26c upside unlimited. Happy trading. My 2 cents.

Oil corrected a little overnight. Probably can get some at a cheap at opening. But looking at the price now it's rising back. Lol. Think it should trade range bound as for now.

Background of Dr Kenneth Pereira. For those who are investing and not speculating in this share.

From Bloomberg,

Dr. Kenneth Gerard Pereira has been Managing Director of Hibiscus Petroleum Berhad since September 13, 2010. Dr. Pereira served as an Executive Officer of Sapuracrest Petroleum Bhd. He served as Chief Financial Officer of Saints Capital. He served as the Managing Director of Interlink Petroleum Ltd. from August 4, 2009 to October 14, 2011. He started his career with Schlumberger Overseas S.A and served as Field Service Engineer from 1983 to 1990. He Co-founded Sapura Group of companies in 1997 and involved in the growing of Sapura organically and through acquisitions until 2008. He served at Sapura Group of Companies as the Service Manager overseeing service of telecom products and Senior Manager, General Manager, Group Corporate Planning and Vice President. He was deeply involved in many key aspects of the implementation of this project. He is an engineer by training and has several years of oil and gas field experience in North Africa and Europe with a leading multinational oil and gas services company, Schlumberger Overseas S. A. He also has significant prior sector experience in the start-up and turn-around of companies engaged in the sector. He was also intimately involved in successful joint venture negotiations with a French multinational organization for the transfer of technology in relation to the localization and development of local capability in the area of defence radio-communications. Since 1997, he served as Vice President of Energy Sector Projects and initiated the building of the oil and gas services business under the Sapura Energy Sendirian Berhad ("Sapura Energy") banner. He served as the Chief Operating Officer of SapuraCrest Petroleum Bhd ("SapuraCrest") since 2002, where he oversaw day-to-day operations and was very involved in the successful execution of several medium-scale capital projects (USD250 million or less). He also played a key role in negotiating long term strategic joint ventures with European and Indian multinational corporations. He has over 29 years of international experience in the Oilfield services sector and technology management. He served as Chief Financial Officer of De Novo Ventures and Hummer Winblad Venture Partners. Prior to Hummer Winblad, Dr. Pereira served ten years as Chief Financial Officer of American Industrial Partners. His roles with these firms included all administrative functions, investor relations, fund raising, portfolio company assistance and transactional negotiation and closing. In addition, he served accounting and financial roles at Ernst and Young, Oryx Ventures and Transamerica Corporation. He has been a Director of Hibiscus Petroleum Berhad since September 13, 2010. He serves as a Director of Hibiscus Energy Pte Ltd (Singapore) and Hibiscus Ventures Sdn Bhd. Since 2009, he served as a Director of STP Energy Pte Ltd. He served as a Non-Executive Director at Ecofuture Bhd from July 30, 2009 to June 11, 2010. He served as a Director of Interlink Petroleum Ltd from October 3, 2008 to November 21, 2011. He has managed the Malaysian Indoor Hockey Team on two occasions at international tournaments. He completed a Doctoral Programme conducted by the University of South Australia in which he researched the subject of the 'Start-up, Survival and Growth Strategic Actions of Initially Small Oil and Gas Exploration and Production Companies. Dr. Pereira is a Certified Public Accountant in the State of California. He has a Bachelors degree in Mechanical Engineering with Honors from Bath University, United Kingdom in 1982 and a Masters degree in Business Administration from Cranfield University, United Kingdom in 1993

Last time Anasuria acquisition also almost took about a year. Big deals such as this will take time.

What i also admire about Hibiscus is the company is being led by Dr Kenneth Pereira, a very capable person with vast knowledge and experience in the oil & gas industry.

http://www.bloomberg.com/research/stocks/people/person.asp?personId=76178&privcapId=20345155

http://www.thestar.com.my/business/business-news/2015/08/08/can-pereira-finally-take-hibiscus-to-next-level/

Hibiscus will surpass Sapura Kencana one day... or have they already? :)

yea dont think tan sri wants to buy all the shares as well. just MGO triggered. At least give us chance to buy at the price close to his :P Just wait till the offer lapses.

lol most probably all goreng other penny stocks. so many penny up today. wait till the hype over then they come back hibiscus :) Just breaking the silence :P

oil price rising. keep on a lookout tomorrow if pass 57

so fast panic aiyo. brent futures now drop 0.5% to 56.64. so surely some profit taking. look at carimin, reach, icon etc, more than 2% down. but hibiscus is the most resilient because i say for the 100th time it has good fundamentals. When oil price rises hibiscus rise alot but when it retrace hibiscus price doesnt drop much because big players are in for the long run.

by the way heard there might be private placement. so probably good thing share price dont rise so quickly so that it doesnt fall so much after the pp price announce. but that is just rumours. dont take me too seriously.

besides, today many penny stocks are being push high. probably some contra players cut their positions here to play those counters. just saying.

anyway my 2 cents. still keeping hibiscus till the next breakout in oil price and also the announcement for NS. Happy trading. Have patience.

http://oilprice.com/Energy/Oil-Prices/OPEC-To-Take-Drastic-Action-Despite-Shale-Slowdown.html

Shale production slowing and OPEC is going in aggressively to balance oil price. Brent $60 per barrel should be no problem soon. Take position in oil and gas counters to ride the uptrend. If I had to choose 1 counter to ride on, it will be Hibiscus because of its fundamentals.

Price rising because oil rebounding. other pennies like reach, icon, carimin all up 3%above so far. Wait till hibiscs rise double digit only then we can assume announcement coming out. Lets wait patiently in the mean time.

Fundamentally good company. big investors have come in. even with a pp of 60c+ this share will continue to rise. have fun. road to rm1. waiting patiently for sabah acquisition.

lets just enjoy the ride till announcement

http://www.theedgemarkets.com/article/oil-rises-above-us56-saudi-export-cut

ini kalilah

brent up to $56.56! wow. hopefully it maintains or breaches $57. can open bottle tomorrow

brent pass 56!! rebound in oil prices! get ready!

http://www.reuters.com/article/us-india-energy-stability/opec-says-to-reconvene-meeting-with-u-s-on-deal-to-cut-oil-output-idUSKBN1CF0EF

Get ready :)

waiting patiently for brent to cross 56 so we can see movement in hibiscs

oil prising rising. looks like it found its support. congrats those who stuck with hibiscus and went through the volatile times. looks like we can look forward to rm1

70c is the big psychological barrier. Need to break and hold above the price. Only if it does we will see newer highs

oil price rising :) share price should move accordingly

not good to simply spread rumours. oil price has its correction on friday. so most probably price of hibiscus will correct on Monday.

However, this might not happen.

http://www.chron.com/business/energy/article/Oil-producers-shut-in-92-percent-of-Gulf-of-12260804.php

Up to 92% of crude production in Gulf of Mexico was shutdown because of the hurricane and they only released that figure during the weekend.

Take note that the U.S. Gulf of Mexico is home to about 17 percent of U.S. crude output and 5 percent of dry natural gas output, according to the U.S. Energy Information Administration. More than 45 percent of U.S. refining capacity is along the Gulf Coast.

As the figures reported over the weekend this might spike the price of oil on Monday. Keep a close lookout.

Take note:

(1) Facilities uptime and average daily oil production recorded in the current quarter ended 30 June 2017 improved compared to the previous financial quarter. This has off-set the impact of slightly lower crude oil price realised by the Company for oil produced and sold during the current quarter at USD50.46 per bbl.

(2) In addition, two wells which were shut-in by the previous operator for high hydrogen sulphide ("H2S") production levels, namely Guillemot-P1 and Teal South-P1, were recently reopened. Both wells are currently producing. Chemical injection levels at the Anasuria FPSO have been enhanced to maintain H2S levels below the gas export limits. A positive financial impact in respect of the implementation of these initiatives will likely be observed by the end of calendar year 2017.

(3) North Sabah
The recent disclosures by the Group that its wholly owned subsidiary, SEA Hibiscus had on 12 October 2016 executed conditional transaction documents to acquire a 50% participating interest in the 2011 North Sabah Enhanced Oil Recovery Production Sharing Contract also bodes well for the future. An overview of this asset is tabulated below

This asset has the potential to:
• Increase the oil production output of the Group by a factor of up to three times;
• Provide the Group with a second revenue stream, independent of the Anasuria Cluster; and
• Allow the Group strengthen its technical and operational capabilities.

What we can expect for the future:
(1) brent crude oil sold that time was USD50.46
(2) Opening of 2 wells which will have positive financial impact at the end of calender year 2017
(3) North Sabah asset potential to increase oil production output up to 3 times

19 PROSPECTS OF THE GROUP (CONT’D)
As of 30 June 2017, our wholly-owned subsidiary, Anasuria Hibiscus UK has been involved in the joint operations of the Anasuria asset for circa fifteen months. Over the fifteen-month period, several milestones have been achieved in areas under our joint operational control which are reflected in the performance indicators shown below:

Facilities uptime and average daily oil production recorded in the current quarter ended 30 June 2017 improved compared to the previous financial quarter. This has off-set the impact of slightly lower crude oil price realised by the Company for oil produced and sold during the current quarter at USD50.46 per bbl.

In addition, two wells which were shut-in by the previous operator for high hydrogen sulphide ("H2S") production levels, namely Guillemot-P1 and Teal South-P1, were recently reopened. Both wells are currently producing. Chemical injection levels at the Anasuria FPSO have been enhanced to maintain H2S levels below the gas export limits. A positive financial impact in respect of the implementation of these initiatives will likely be observed by the end of calendar year 2017.

Furthermore, in respect of the Anasuria Cluster, we had identified several projects for execution during the period commencing mid-2017 and continuing until mid-2018. These projects are on track and will enhance production volumes by bringing on-stream petroleum resources that have already been discovered. Recognizing the fact that we are building up our project execution experience in the UK sector of the North Sea, we shall initially commence undertaking activities that are low in terms of technical complexity and business risk exposure. We are also currently putting in place the necessary financing to ensure that we are able to undertake these projects in a timely fashion..

North Sabah
The recent disclosures by the Group that its wholly owned subsidiary, SEA Hibiscus had on 12 October 2016 executed conditional transaction documents to acquire a 50% participating interest in the 2011 North Sabah Enhanced Oil Recovery Production Sharing Contract also bodes well for the future. An overview of this asset is tabulated below

This asset has the potential to:
• Increase the oil production output of the Group by a factor of up to three times;
• Provide the Group with a second revenue stream, independent of the Anasuria Cluster; and
• Allow the Group strengthen its technical and operational capabilities.
It is important to note that this transaction is conditional upon approvals by joint venture partners, the Malaysian regulator and a successful transfer of operating responsibilities.

Hibiscus mostly refer to Brent Crude Oil pricing. Extracted from their latest QR. Couldnt copy the tables though.


19 PROSPECTS OF THE GROUP

Anasuria Cluster

Currently, the financial results of the Group are underpinned by the operational performance of the Anasuria asset. Several key factors are particularly relevant. These are:

• Price of the Brent crude oil benchmark at approximately the time of a scheduled offtake from
the Anasuria FPSO;

• Any differential (either positive or negative) that we may receive on the price of the Brent crude
oil benchmark on our specific cargo depending on market conditions at the relevant time;

• Gas prices for the respective fields as follows:
• Cook field – at the landing point of the Fulmar Gas Line at the St Fergus Terminal for a
price that is calculated as 40% of the Heren National Balancing Point index (“Heren
Index”) and in accordance with the terms set out in the Cook gas sale and purchase
agreement; and
• Guillemot A, Teal and Teal South fields – at the point where the gas leaves the fields
and enters the SEGAL System for a price of 85% of Heren Index and in accordance
with the terms set out in the Anasuria gas sale and purchase agreement.

• Exchange rates, more specifically that of the RM and the:
• USD, as our revenues are secured in USD and the valuation of the Anasuria asset is
held in USD; and
• Great Britain Pound (“GBP”), as the majority of our operating costs for the Anasuria
asset, currently our sole revenue generating asset, are incurred in GBP.

• Performance of the Anasuria asset, more specifically:
• Production performance of the wells; and
• Facilities availability.

• Management of operational expenses for the Anasuria asset.

As joint operator of the Anasuria Cluster, the Group continuously focuses on optimising asset performance but it is equally important to note (from the information provided above) that the performance is impacted daily by external macroeconomic factors over which we exert minimal control. For the financial quarter ended 30 June 2017, the following were achieved or utilized in the preparation of this Quarterly Report:

It will follow oil prices. Which is down 2% at time of writing. So most probably monday lower. But if end of the day closes in the green.. wow. Hammer form.

Lol bad news so that they can benefit from the drop. Uptrend intact. Drop In Oil Price will definitely cause the drop in hibiscus pricing on Monday. That can be a good time to accumulate for those who want to take position

oil price maintains around 50plus. Dont think there will be much movement today. Keep it longer to ride on the oil trend.

Aiyo cannot every day 10% up. Then it will be goreng stock like that. Watch for oil price. If more than double digit rise either oil price rise alot or acquisition news coming out.

Omg wow. Hopefully oil price can sustain throughout the night. Wow

Let's all ride along the journey to rm1. There was a lot of panic when krono took its journey to rm1 but when it is a good stock it is just a matter of time. There will be more ups and downs along the way for hibiscs. But clearly we can see there is quite a support building for wti at 50 and brent at 55. Think logically. Tension US and NK. Production cut by OPEC and non opec members and the other middle east tensions will all contribute to the gradual rise in oil price. It's all a cycle. I know shale production is still high but face it, even the shale producers would want a higher oil price eventually. It is time to take position in oil and gas stocks.

Hibiscus was well supported at 61.5c. Currently it's forming a support at 66.5c but it is still a weak support.

Let's just not miss this boat. 5 quarter straight net profit and more 10 fold increase in revenue after the Anasuria acquisition. Can't imagine what the price will be like when they successfully confirm the NS eor.

If pump and dump it would happen long time ago. Not test resistance 61.5c so many times. And this is profit making company. Study the report. It's a gem!

Anasuria is so profitable already. Revenue is much higher than hibiscs was at rm1. Plus with the acquisition of NS revenue will DOUBLE

Those who sold at 70c will regret

If break 70.5c then 80c next. Told u guys to hold. Pls don't panic sell. All my recommendations are up

Wait news

I think the deal confirm

PE 11x and management say loss 1 time off. Just bought in at rm 3.01

yea 60c seems well supported. so just relax. for now :)

macd, psar and force index all bullish. 50 just crossed 150 ma. True test is 68c previous high, to confirm the uptrend.

toypoodle: 60c psychological level. if break might see a sharp downfall. i will cut loss below 60c and reenter when price stabalise.

dont think it'll drop below 61.5c anymore since we've established good support. unless oil price drop drastically. but looks like consolidating. anywhere near 61.5c can accumulate hibiscs. until the NS announcement.

ok after so many tiring comments. now we can put to rest that there is a strong support above 60c for hibiscs. Just sit back relax. Let oil price rise gradually and reap the profits.

Btw frontken is another good company which is in consolidation phase that you guys can consider. 37c support and looks likely to break 40.5c soon.

But stock market is volatile. Quite a selloff yesterday. Hope it spring us a pleasant surprise

WTI and brent close 50.58 & 56.12 respectively. Not bad didnt fall below 50 & 55. Hibiscs to stay stagnant again. Hopefully stays above the 61.5c level so that we can establish a strong support. hopefully... lol

70c possible. that time when brent was $59 hibiscs touched 70c. Pray brent breach $59 tonight :)

Using fibonacci, wti $50.46 is currently flirting with the 23.6% level now ($50.29). Next retracement is $48.72 (38.2%)

Hibiscs is holding well at 61.5c. But if break the psychological barrier of 60, it could test back 47c. Keep a good look out. This is a good stock. But u can always re enter at a more favorable pricing.

But I'm sure there are big players and fund managers that are already inside hibiscus and are well aware of the TA. They should be accumulating and trying to keep the price above 60c to avoid the selldown.

When oil is up all the good news comes and now when it is down all the negative news comes out. Researchers and news are done by the analysts who already have positions in the trade. Market is so interesting isn't it?

Yes. Because it will take time for the higher oil prices to kick into their financials as they already entered to existing contracts which low margins. Hibiscs has the NS deal. Banking on it to materialise. If it doesn't I will cut off hibiscs as well. Unless oil price break the 60 mark

It is not just hibiscs. Most O&G counters are down. Hibiscs remained the most resilient because of its FUNDAMENTALS. Reach down 6.41%, Carimin 7.27%, dayang 6.06%, icon 7.02%.....

Why down? Because crude oil dropped. Simple as that. Don't have to bring in goreng down or what not. Take Brent price, from 59 drop to 55. Thats 6% correction. But that is normal. Market does not go one direction. Besides the correction is after more than 20% rise.

Oil is still in the uptrend. Take this as a consolidation phase and a huge opportunity to accumulate! Especially hibiscs as you can see it corrected less in comparison with other penny stocks that has risen drastically since the news favouring oil price came out.

Why most prices are down? Because sentiments are weak. Why sentiments weak? Simply because foreign funds are selling. Why selling?
(1) they could have already made good profit.
(2) most importantly.. a huge chunk of mgs is maturing soon. They are just worried a selldown of Mgs might happened just like last November which caused ringgit to fall to above 4.40.
(3) tension between rocketman and dotard. When dotard this morning said that there is no point negotiating with rocketman.. that implies having to go to war. But will they go to war? Unlikely. US is smart. NK is not like Iraq where they knew there was no weapon of mass destruction. Nk is smart too. Rocketman is young and leading a good life. All the missiles launched was just a show of power to the citizens. Rocketman knows that dotard can wipe the whole NK in an instant.

Anyway that's again my 2 cent. Most markets are enjoying their bull run. Even Japan where missiles flew over, their nikkei 225 is enjoying positive run.

In conclusion, take this as a great buying opportunity. I have written so much when 1mdb missed their payments. Told it's a buying opportunity. Held onto krono when it came down from 92c to 78c. Bought in frontkn when it dropped to 28c. All these are buying opportunities for fundamentally good companies.

My 2 cents. Happy trading. All the best. I entered so many o&g counters today. Hoping for the best. Cheers.

Lining up at my target 61.5c. Bought reach 37c, dayang 92.5c and eatech at 47c. Mega sale for oil and gas. Waited for this day