I think very attractive dividend is coming soon.... stay tuned on the announcement....

This is a guy(Joginder Singh A/L Bhag Singh) who newly joined the board and sold his share in last Deck finally resign due to personal reason.

the RAPID will postpone to 2017 so this counter no hope plus lack of integrity from their management team... you may not know how many greedy and ugly scene will be happening soon... about the article above on the mentioned Risk, item a) EIA may not positive b)fisherman protest the Pengerang project c)RAPID delay till 2017... so good luck to this counter.. it will dive soon.... dun understand few fund managers keep promoting this shares?????

it sound like many funds wanted to let go their investment to get back their IPO $ else why analysis keep promoting this stock and putting a ridiculous target price... no free lunch... they are many sellers out there wanted to let go their stocks on hand... I remember there was article talking about this counter "Sand become gold" but now it become stone due poor management team...

extension until 9 July 14 :
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1540233

Muscat, 3 February 2014: Masirah Oil Limited (“Masirah”) today announced the successful reach of the well target depth in the second exploration well in Block 50 Oman to its final depth of >3,000 metres into the Cambrian formation. Hydrocarbons were discovered in several formations with good oil sample extracted. The well will undergo data acquisition before setting the completion for testing. The well was drilled using the independent leg cantilever jack-up drilling rig Aban VII.
Mr Hans Lidgren, Chairman of Masirah, said, “The discovery of hydrocarbons in 2nd exploration well is a significant step towards the deepening of our knowledge and understanding of the offshore geology in the east of Oman, where no discovery has been made before. The results from this well are vital for the future development of this block. This discovery confirms the high quality and value of the Oman asset. We look forward to a continued fruitful co-operation with the Ministry of Oil and Gas in Oman for many more years to come, and we congratulate our shareholders Hibiscus Petroleum Berhad in Malaysia, responsible for the drilling campaign, PETROCI the National Oil Company of Côte D`Ivoire and Rex International Holding Ltd in Singapore, responsible for the use of Rex Virtual Drilling technology, to a successful venture.”
This press release has been approved by Ministry of Oil and Gas of Oman.

Hi All, been monitoring and silent for a while, this is a good news...
Happy88 hopefully you are enjoying it too..

what is the next business plan for this cash rich cow?

2% of 0.25 par value is a small dividend. lost a huge confident on this stock after holding for years due to poor management and lack of integrity. KWAP should get out from this stock to safe the public money.. the Tanjung Piai is a dream... it has been talking about it for years... Moreover, they have plenty of re-claimed land to sell but .......(dunno what will happen behind the scene)..

be more confident on your decision. with the low floating shares in the market(<15%) and recent private placement the company is expanding with good future prospect and opportunity. Sell it if you dont feel comfortable be a long term investor for this counter.

Any investment has the risk.. But can't tolerate with insider trading.. What is SC and Bursa doing now? Is Hibiscus management team also investigate on this matter? I think the edge has voice up for the minority shareholders...

Can't tell more about him(head of drilling) may be he is really good and smart but we hope the company learned the lesson and do not repeat it again bcos you can't afford anymore.. More abt his experience in last 10 years ..

..... has worked for both small and large operators, and on a number of new start-up operations where he set up the systems required to ensure cost effective and efficient commencement of operations. Companies he has worked for in the past include Santos Limited, InterOil Corporation, Upstream Petroleum, Oil Search Limited, Eni Australia Limited, and Talisman Energy.

From his past 10 years this is his 7th company.. I think he is in GEN-Y group

Head of Drilling
Elike Mawuli, a dual Australian and Ghanaian citizen, aged 33, graduated with a Bachelor of Engineering (Mechatronics) and a Master in Engineering Management, both from Queensland University of Technology, Australia. He is also a member of the Institute of Engineers Australia and the Project Management Institute.

Elike has over ten years' experience in the oil and gas sector, in both onshore and offshore drilling, well design and well servicing operations, and has worked in various operating environments in Papua New Guinea, Australia, Indonesia, and East Timor. Whilst working in Papua New Guinea, he was exposed to high cost land wells in extremely remote heli-supported locations. In Australia, he has worked on exploration and appraisal wells in the Bowen, Surat, Browse, Bonaparte and Cooper-Eromanga basins. In Indonesia, he was involved in exploration activities in East Java while in East Timor, he was involved in planning deepwater wells in the Timor Leste Exclusive Area (TLEA).................

A big lesson learned... Do not take it easy in next drilling!!!

After this heavy sell. the next one is request for the press conference from Hibiscus management on the insider trading!

13/12 - total market capital worth RM1.36B(only mother shares excluding warrant)
today only worth RM934Mil (down by RM426Mil in 5 days)

To know more about insider trading :

http://www.azmilaw.com.my/archives/Article_outside_publications_asian_counsel/Regulation_of_Insider_trading_in_Msia_(00124337).PDF

http://www.agc.gov.my/Akta/Vol.%206/Act%20280.pdf (READ 89E Page 135)

Prohibited conduct of person in possession of inside information
89E. (1) A person is an “insider” if that person—
(a) possesses information that is not generally available which
on becoming generally available a reasonable person would
expect it to have a material effect on the price or the
value of securities; and
(b) knows or ought reasonably to know that the information
is not generally available.......................................


Hopefully they(SC & Bursa) take a serious investigation on this matter.

This is insider trading... Bursa must investigate!!

no price can up forever, this company is worth 1.11bil now compared to IPO 486mil(RM1.8). Make wise decision continue to long or short...

The implication is positive. new fund pumping into the organization for future expansion. If the company without a good future potential the investor will not putting on the new fund. looking at the P&L, cashflow this company strong in fundamental after the recent re-structure. This is a long term play counter.

the son is high risk? but i dun think so because the premium is close to zero or negative unlike other counters their Warrant got premium. If you are the long term investor you may consider the son with low entry cost then convert to mother before June(to be conservative) by that time lot of fundamental or strike oil matter already have clear answer. the whole objective is low entry cost and accumulate your fund for the future. for hibiscus they need new funding, in their report they always project the conversion fund from Warrant. Note that the big shark might accumulate the warrant because it is cheaper than the CRPS placement without paying premium. I hope this make sense to all.

Yes please share where is the source of announcement

Follow up on the BP strike oil news in Mexico the dirty(sour) level is at the top side, meaning poor quality of oil or super dirty? as long as it within the EIA stated range for Oman I think is a good result... I am not in the O&G may be expert in this industry should comment further ...

Hope this will help to clarify the grade of the oil http://www.eia.gov/todayinenergy/detail.cfm?id=7110 in the record the sour grade is above 1... unlike from Malaysia we produce & sell high quality of the grade and import the poor quality oil.. as long as they found oil that is a GREAT NEWS!!!

BTW, anyone can list out who are the fund managers in this counter. from what i know mostly company, or individual own it. in the latest financial report i cant see any local or foreign fund manager except individual or cooperate in the O&G... REX up is a good signal.

Hi Happy88, you are correct.. Min 50 days. "The contract will be effective for a minimum period of 50 working days which is anticipated to commence between ......"---> http://www.offshoreenergytoday.com/aban-vii-jack-up-hired-for-drilling-offshore-oman/
If this is the case it will be expected in mid Jan...

The drilling contract for Aban VII is hired for 50days. Anyone got idea what if they completed the drilling early for these two wells and release the rig early they will make some cost saving on the contract? If yes it will be a plus point for them to save the drilling expenses cost.

Dear Harvard57, if not mistaken these new shares placement by a substantial shareholder. Imagine if he acquired these shares from the market and the floating is low the price will fly like crazy. They want the business not short term profit. After Oman, continue RAK, Norway, Australia... So it will continue... To do this business they need funding to expand their license and oilfields...

Whether the corporate proposal involves the issuance of new type
and new class of securities? No
Types of corporate proposal Others
Details of corporate proposal Conversion of Convertible Redeemable Preference Shares to Ordinary Shares
No. of shares issued under this corporate proposal 8,839,779
Issue price per share ($$) MYR 1.810
Par Value ($$) MYR 0.010
Latest issued and paid up share capital after the above corporate proposal in the following

Units 507,622,742
Currency MYR 5,076,227.420
Listing Date 17/12/2013

The pattern of this counter will make the contra players or short term players suffer. You will not know how much it drop and hold for weeks or months. If it is up you may not have chance to catch. A few trades with this pattern at the end will loss money at the end. So better watch out this is advice not encourage play contra at the end you see ppl making money but you are contributing to them. Thank for all share the information.. I think the next few days will be flat and the warrant will alway have the discount until ppl converting it before July 2014. In total there are rm150mil fund from warrant so I do not agree ppl said small amt of money. The loyalty investors will convert it soon at discounted price..

Speculators might not understand Flowerpower... I agree with you if they earn enough get out from here ....we will not appreciate how much they earn fromthis counter but for the long term investors we are appreciate on your analysis and information with proven evidence about the business strategy and status.... If this round they do not strike oil we are confident they will make it in the future.... To those purchased at 0.75 the game is just started.. :-)

Mmaker you have your points.. Let the folks sell it.. I believe they are many investors like to accumulate more.. The more short term players the hardest to manage it.. :-) if earn enough and you think is high risk please don't enter again .. :-)

Many interesting justifications and stories. Congratulations to those long term investors who invest into hibiscus and treat it as your business toward the company vision. You are holding it because of TRuSt to the company value and great management team. Anywhere there are not many floating shares for the retailers ...For contra players pls make ur sufficient profit and go far far like go to PN17 or penny stock to exchange higher amount of shares ... The time will tell... Like it started in July 2011...

Happy88 gives me 5... We are in the same ball game for both.. Long term investor for these counters.

http://www.hibiscuspetroleum.com/download/pdf/media/news/Investor%20Presentation_Nov2013_R2.pdf

watch video is much easy to understand for layman.. http://www.youtube.com/watch?v=qdKIaRHchqc & http://www.youtube.com/watch?v=eOK9J0wETYo

Although is good but still concern on their integrity within the management board... the minority shareholders have to watch out because they are lot of buy and sell transaction over last 12 months were made by their major shareholders[I think is their family].. moreover, they re-claimed the land and sold to their own. Minority shareholders speechless to see the transaction ... watch out their future transaction to make the wise decision to be their shareholder...

thanks fortunebull. 4 baggers from Inari within 6 months is too aggressive.. I hope you gain more there... :-)

Strong fundamental and strong cashflow counter.. Is just wait for time to come.. Hopefully there is a new award soon. Positive to this counter.

This is expected bcos last Friday ~1.4mil shares deal. This counter will press the contra players to maximum extend to make them not benefit from short term speculation. If the big fish don't give order the player to push the price then it will stay sideline or down few cents..In short don't aim contra at low floating shares counter. be their member to support their business, own part of their business.

Hi happy88, thanks for sharing this information i think it benefit for those who seriously be the part in this counter for our long term goal.

May be don't want too many contra players enter into it. They value the long term investor so it will not up like rocket sign.. Look at their track record.. Up very fast and drop very sharp then resume again.. :) they only hv less than 15% shares floating in market... All holders are their friends, partners ..

Happy88 we are in the same game :)

Do you notice that most of the land deal sold to their own company? And this company is not listed.. So who benefits the most??

Read the private placement announcement then you will know more to this counter's future position.

fundamental wise is pretty strong, any new project announcement will bring this counter to next level. this is a long term play.

sound like finish spending from last round profit...time to earn salary for next wave. :-)

Advice is value investing be long term player. I posted before the shares floating in the market is very little. how many you bought and how many you sell they know you... :-) happy investing...

Excellent projection on the timing. Assuming 9 days to reach the destination likely the Aban 7 will depart from India in these two days, Let monitor the movement. Thank You zamsaham.

1748.288Km (944Nm)from the current location to Oman. 1Nautical Miles (Nm) = 1.852KM.. How long it will takes Aban 7 to reach there? Any expert can advice here?

Hibiscus has a great management team, they will make the announcement when the right time to make announcement. The MD is appreciate to the shareholders' support and will value the loyalty shareholders..

this stock really a concern, with the recent management board crisis is really a surprise to shareholder. if you notice that their landbank is selling to their own company.. is really concern on their sincerity of the business and value their investors..