So.....

Management background is not a well driller... check

Management have no experience in mid east wells... check

REX virtual drilling technology DID NOT predict the presence of carbonates.... check

Massive insider trading... check

I think rex is not so affected is because they have PRODUCING well at bahamas, so they are not so affected. And thier valuation is not over the board. Hibiscus have nothing yet......

Sklyte... if you already know this counter have high leakage and future more insider trading, still want to put your money in it?

I recieve sms on the no oil info just before the first drop.....talk about widespread insider trading...

Not matter to keep drlling until find oil leh.. each hole cost 5 million usd upwards. The more you drill the more you lose....

Hahaha nothing left to say.. now talk until tan sri. Who cares about some stupid tan sri losing a small amount of his play money. Hahaha.

Hhakim, if your analysis is true then either...

The hibiscus management is inexperience dealing with carbonates and drill problem...

Or

The RES virtual drilling technology is a bust as it did not see those carbonates

And

With the rife insider trading, who in the right mind is confident at the management?

Wt222 look at spac history in us... more than half close shop before making QA, and those who do did a cumulative -30% performance per year in terms of price there after....

NKN1 dont worry, hibiscus rich mah.... the jackup rig only cost 100k usd per day... cheap lah compared to what the directors pay themselves...i am sure they could well afford it.

Most of the biggest insider traders are the investment banks themselves....

Fat chance sc will go after insider trading.... hahahaha

Its ok to fail in investment, everybody experience it. All those misinformation and trying to pump up the share even when the fundamentals can be clearly seen, is not cool at all.

Why do you think pervious owners drill a total of 2+1 holes and then ABANDON the block?

Aban 7 contract is approx usd 100k per day, now already more than 1 month so already spent 3 or 4 mil usd to get a non producing hole. How many more million to spend continue drilling?

This counter is full of insider trading.... they already knew no oil on 21st.

All you ikan bilis who play this counter, now know you can be fried up side down...no fair playing ground for you.

if can get below 60 cents and you have money to convert.. it is good earning.

Rights now worth 68 cents... + 10% discount will be 60 cents

wah.. director start disposing....hmm...

Circle oil owner of block 59, next to block 50 drill >10 times... only dusciver recoverable reserves of 1600 mmbo, and they have been drilling since 2005, until now not yet production..

Gonna take a long time to taste the oil....

Not to mention this is a 3rd hand block..... 1st 2 drilling done in 1970s, then change hand drill again in 1980s.... now 3rd hand drill again. Hmm.....

maybe they wish to announce merry Christmas to all investor?

wah like this suspend how many days ah? until new year perhaps

The rig hibiscus used to drill was built in 1973....

if other companies drilled then abandon the block 50, hibiscus can get ah?

According to Oman... 3 wells have already been drilled in zone 50, by two separate companies..

Masirah-1 and Masirah-2 wells were drilled in 1975 and 1976 in Block 50, with a third well Maimun-1 drilled in 1984. The wells found shows and good reservoirs in certain geological layers, but no commercial discoveries were made.

Oman concession map here...
http://www.mog.gov.om/Portals/1/concession%20map%205May2013.pdf

If you all go to ministry oil Oman you all see that the zones next to zone 50 got a lot no takers 1...

oman sign already take money will not cancel the deal...

still thinking how to draft/spin a disappointing announcement maybe...

if good announcement, already fast fast announce...

why wait until last minute to announce news... bursa gonna close shot at 7.30 pm liao.

LOL like playing big small...at casino...

suspend soooo long from 9am till 5pm.. then no sign of announcement...

does not smell right...

http://www.bursamalaysia.com/market/listed-companies/company-announcements/#/?category=all&sub_category=all&alphabetical=All&company=5199

Keep pressing refresh kakakaak

Timeline

Trading for rights : 27/12 - 06/01.

Subscribing for rights : latest by 13/01 5pm

Listing date : 29/01

now.. those who wanna buy cheap rights press price down, those wanna sell rights push price up... fighting...

about 10-14 days will credit to CDS

price now 2.32, rights 1.65.. difference 0.67 cents. OR should trade between 55-60 cents

monday going to be a lot of margin calls....

Boom!

wah.. sbb sleeping ah today.. no volume...

usually sbb not so aggressive..

issit sbb or other investor?

that's the rumor lah.. up to you to believe or not...

news is latest drill .. no oil...

export business.. if usd go up.. you make up your conclusion..

getting to 10%...

sbb only hold the fort @ 1.85.. push up by others.. with the huge volume probably FF

only 4 sen up.. already speculation...hahahah

WB is trading at negative premium now...

hmm WB is performing poorly than mother?

sbb is missing in action...to adsord the 1 mil shares hahaha