Zzzzzzzzzzzzzzzzz

people lost confident already

in 2 week the price will move up until before raya.

Before RAYA it will shoot very high.

ISA SAMAD UNDERESTIMATED NAJIB’S RESOLVE

http://www.malaysia-today.net/isa-samad-miscalculated-najibs-resolve/

Isa Samad mistook Najib’s silence as tacit approval. And this is the mistake many people (politicians and heads of GLCs included) make. They think Najib is easily fooled and if he keeps quiet that means you have managed to pull the wool over his eyes. Najib might listen to what you say. But that does not mean he will listen to just what you say. He will check the veracity of your story to see if you are telling the truth. And he has his team of Boffin Boys for that.

Raja Petra Kamarudin

Pakatan tak guna. Pakatun. Farkatun.

Sumatec to raise up to RM20.5mil through private placement

Read more at http://www.thestar.com.my/business/business-news/2017/06/07/sumatec-to-raise-up-to-rm20pt5mil-through-private-placement/#V70Hi1jctg5yrL7C.99


KUALA LUMPUR: Sumatec Resources Bhd, which had a negative operational cash flow of RM46.02mil last year, has proposed a private placement to raise an estimated RM20.5mil to finance its day-to-day working capital requirements.

The upstream oil and gas player told Bursa Malaysia that up to 386.61 million new shares (10% of its current paid-up capital) would be issued.

Subject to the prevailing market conditions, the proposed private placement may be implemented in multiple tranches within six months from the date of approval of Bursa Malaysia Securities Bhd or any extended period approved by the regulator.

Therefore, Sumatec said, there could potentially be several price fixing dates depending on the number of tranches and timing of implementation.

The company said the proposed exercise would raise gross proceeds of up to RM20.49mil based on an indicative issue price of 5.3 sen per placement share - about 8.78% discount to the volume-weighted average market price of Sumatec shares for the five market days up to the latest practicable date of 5.81 sen.

Other than the estimated expenses of RM750,000, the proceeds would be used totally for the working capital requirements, including staff salaries/allowances (RM7.2mil) and rental and utilities (RM3mil) within 12 months.

Sumatec said the proposed private placement was expected to be made within two months.

“The proposed private placement is an interim proposal to meet the immediate funding needs of the Sumatec group pending the implementation of the comprehensive series of fund raising and securities issuance proposals as announced on Feb 17,” Sumatec said.

The proposals announced in February included a private placement of up to 1 billion shares in Sumatec to independent third-party investors, issuance ofup to 800 million Sumatec shares as payment to contractors at the Rakushechnoye oil and gas field in Kazakhstan, and a 1-for-2 rights issue together with one warrant for every rights share subscribed.

The 1 billion placement shares were at that time assumed to be issued at an indicative price of 8 sen each, thus raising RM80mil in gross proceeds.

Sumatec share closed unchanged at 6 sen on Wednesday, with 1.14 million shares changing hands.

hahah pergi AGM mengamok la.

waa vick so confident

blood everywhere

this is no limit up la. look like long way to go.

IRWAN SERIGAR AND THE WANDA DEAL

http://www.malaysia-today.net/irwan-serigar-and-the-wanda-deal/

Irwan Serigar leaked confidential information regarding the Bandar Malaysia-TRX deal to anti-government portal The Malaysian Insight to burnish his diabolical plot. Irwan also lied to the Prime Minister by saying that IWH-CREC violated the terms of the agreement, which is why their agreement must be terminated. Irwan purposely did not pre-warn the Prime Minister about the anticipated reaction of the Chinese government regarding the abortion of the deal with IWH-CREC because he was was positioning Dalian Wanda-Malton to take over.

“Chinese Prime Minister Li Keqiang told Najib that China hopes the deal on Bandar Malaysia stays unchanged. Najib may have to take the Chinese wishes into consideration,” said a government source in Beijing.

This will be another power house in the coming month. Good Job Halim.

sekejap lagi depa push la atau pun esok. hehehe.

i intai-intai CONNECT also. has been up so much.

heheheh kan dah cakap semalam. Hheheeh

i told you guys long ago the Hibiscus price will be around 0.45 the lowest and the highest will go to 0.80. But i will take time. surely it will reach that mark.

relax la. it will rebound back strongly.

Whilst we did not immediately benefit from the oil price spike that followed the 30 November 2016 OPEC meeting, we hope to do so in the following quarters.”

Amacam Best Tak Bunyi dia ? hehehe. I told you so.

HIBISCUS PETROLEUM BERHAD - PRESS RELEASE

HIBISCUS PETROLEUM CLOSES SECOND QUARTER WITH AN

IMPROVED OPERATIONAL AND FINANCIAL PERFORMANCE FROM ANASURIA

 Group profit after tax for 6 months exceeds RM 90 million.
 Anasuria operations contribute RM61.8 million to revenue and RM38.1 million to EBITDA for
the Second Quarter ended 31 December 2016.
 Group’s Net Assets Per Share increases to RM 0.52 as at 31 December 2016.

22 February 2017 – 1.15 p.m.

Hibiscus Petroleum Berhad (“Hibiscus Petroleum” or “the Company” or “the Group”) today announced its results for the second financial quarter ended 31 December 2016 (“Second Quarter”).
For this quarter, the Group recorded a profit after tax (“PAT”) of RM 10.7 million and earnings before interests, taxes, depreciation and amortisation (“EBITDA”) of RM37.8 million. Year-to-date PAT was
reported at RM 90.9 million. Operationally, circa 300,000 barrels of oil was produced from various fields within the Anasuria Cluster
and were sold at a realised priced of USD41.7 per barrel contributing to a Second Quarter revenue of RM61.8 million. The average production rate for the quarter stood at approximately 4,400 barrels of oil equivalent (“boe”) per day. Other significant performance indicators reported were that operating expenditure per boe was circa USD 13.0, under-pinned by strong average facilities uptime of about 98 percent.
Hibiscus Petroleum’s Managing Director, Dr Kenneth Pereira commented, “Overall the second quarter was memorable as several milestones were achieved. At Anasuria we are seeing the positive impact of
our operating initiatives and in Malaysia, we have secured an asset that is subject to regulatory approval. On a macro-scale, OPEC and non-OPEC co-operation has resulted in a resurgence of oil prices.
Whilst we did not immediately benefit from the oil price spike that followed the 30 November 2016 OPEC meeting, we hope to do so in the following quarters.”

Note:
As part of the Company’s efforts to keep stakeholders engaged with the activities of the Company and informed of its quarterly performance, Hibiscus Petroleum will be releasing a webcast to present the
highlights of the Second Quarter Results ended 31 December 2016. The webcast will be released on the Company’s website at: http://www.hibiscuspetroleum.com/ at 6.00 p.m. on 22 February 2017.

LOVE IT WHEN I CAN SAY THAT

Hhahahah I TOLD YOU SO

i told you guys so many time. You throw la every bad news to oil price and it will maintain stable and later will start moving up. The answer is because Saudi are there and they will not allowed oil price to go further down as they need to ensure Aramco IPO attractive to investor and to ensure their crude curb plan works as it is their idea. That is why the price is so resilient. We in O&G company know la about this. It will slowly and surely break 60 USD in order to make sure Aramco is attractive enough for investor.

hhah those sell will cry like crazy later.hahahaha. amazing how this operator kill those shakers.Good job. They will chase at high later. Later i will come and tell you "I told you so". Hhahah.

price will break 60 usd as saudi need it badly so that it IPO will be more attractive. that is why you throw every bad news to it and it still stay strong and resilience.

it will go up again. this reaction is normal as it is following current price movement of BRENT and WTI. Don't worry too much. Just enjoy the ride

i will go up again. this reaction is normal as it is following current price of BRENT and WTI. Dont worry too much. Just enjoy the ride.

ahhah amacam. kan i sudah cakap hari tu. it will push until beyond 2.0 and next even above 2.5.

Tomorrow it going to shoot up again.

Trump order US withdrawal from TPP. Executive order already being put for this.

as i said trump is on its way to cancel agreement with iran and put sanction back.

Maha Firaun = Mahathir = Mukhriz = Muhyidin = Lim Guan Eng = Lim Kit Siang = The biggest corrupt and low life people in the country.

heheh kan dah cakap semalam. Second stage bermula. 0.45 - 0.80.

can this wave break 0.14

First stage 0.20 - 0.55. Second Stage 0.45 - 0.80. :-) .

oil price could be heading to 65 - 70 USD as there is a latest info that trump are looking into canceling peace agreement between US and Iran.This is also part of the strategy to ensure the security of Israel and middle east. If this happen world crude supply will plummet and price of oil will shoot.

Monday opening 0.485, close at 0.535.

potential reversal to upward where the price may catch 0.1 again.

yeah maybe.with this strong movement. maybe found new oil.

Decommissioning capex. As part of the Decommissioning Security Agreement (DSA), it is the Group?s obligation to dismantle and remove the facility, and to restore the site on which it is located. The estimated decommissioning cost and restoration of RM257m is discounted to its net present value. We understand that this amount is the discounted initial provision for decommissioning costs capitalised and amortised over the life of the Anasuria cluster fields on a unit of production basis over the proven and probably developed reserves.

Contingent consideration. We do note that there is a contingent consideration to the vendors, if oil price is above USD75/bbl, but only for between 2018-2021. The contingent consideration is 15cents per USD/bbl. Factoring in this consideration and with the assumption that oil price is at USD75/bbl from 2018 to 2035, Hibiscus? portion of the Anasuria Cluster is worth RM1.03 with the above assumptions remaining unchanged.

Taxation effects. We observe that as of 1QFY17, the Group?s taxation in its profit and loss statement included an RM75.8m deferred taxation which is the reversal of the deferred tax liabilities. This is following the adjustment of the fiscal terms of the UK North Sea Tax Regime in UK?s Finance Bill 2016, accounting for a downward revision of supplementary charge tax rate from 20% to 10%. Supplementary assessment shows the increase in value of an asset during the current tax year. This occurs where new infrastructure is completed or occupied during the current tax year. A Supplementary assessment is also calculated when a major renovation or addition is completed on an existing asset.

Source: PublicInvest Research - 9 Jan 2017

HIBISCS - Realising The Value
Author: PublicInvest | Publish date: Mon, 9 Jan 2017, 10:10 AM

Hibiscus Petroleum has come away from its special purpose acquisition company (SPAC) status to qualify as a O&G production and development company. We believe contributions delivered from its first producing field, the Anasuria Cluster in UK, has anchored its position more prominently amongst its oil peers. We are thus reviewing Hibiscus, premised on the undervaluation of its Anasuria Cluster asset valued at RM0.60 based on our DCF valuation with an 11.0% WACC. There is also further potential upside, with the conditional sale and purchase agreement (SPA) for the Group to acquire the 50% stake of the North Sabah Enhanced Oil Recovery (EOR) PSC, a partnership with Petronas Carigali which seems within reach, expected latest mid-2017. As a sweetener to the acquisition if successful, the deal structure will recognize contributions to the Group back-dated from 1 January 2017 onwards.

Upside from core operations. We value Hibiscus? 50% stake in Anasuria Cluster at RM0.60 based on our DCF valuation with an 11.0% WACC. The Group currently owns and operates the field together with Ping Petroleum Limited. Our valuation has accounted for the decommissioning capex and various taxes.

Potential upside boost. The conditional SPA with Sabah Shell Petroleum Company Limited and Shell Sabah Selatan Sdn Bhd to acquire a 50% participating interest in the 2011 North Sabah EOR PSC with Petronas Carigali for USD25m, comprising of 4 producing fields and all its associated equipment and assets including the Labuan Crude Oil Terminal is worth an estimated RM0.55. This assumes the production of its 2P remaining reserves of 62MMstb, no additional capex investment, OPEX cost of USD13.30/bbl through the remaining lifespan of the production rights (of 24years) up to 2040.

Higher, stable oil price at about USD50/bbl levels enhances attractiveness. We see this holding up based on i) OPEC?s agreement to cap output at 32.5mbbl/sday, ii) President-elect Donald Trump?s energy independence vision to only take shape at a much later stage, iii) end of the prolonged oil price cycle which should see new operations coming online, otherwise a major depletion of 20% could be seen as soon as 2017 onwards with the supply crunch in 2019.
Our base case fair value of RM0.60 is premised on a DCF valuation of Hibiscus? 50% stake in the Anasuria cluster with a 11.0% WACC. We are also positive on a further upside boost of an additional RM0.55 with the potential acquisition of the North Sabah asset. The total fair value of Hibiscus would therefore be RM1.15 if the acquisition is successful, pending approvals from Petronas. The base case scenario however of RM0.60 still offers a potential 37.1% upside from current share price.

INVESTMENT RISKS

Single income source. At this juncture, assuming Anasuria to be the bread and butter of Hibiscus for the longer-term. Any hiccups on this project would directly affect the Group?s performance.

Non-approval from Petronas for Shell?s 50% participating interest in the 2011 North Sabah EOR PSC. At this juncture, the acquisition is conditional to Petronas? approval. Assuming the non-approval, the Group?s fair value for the interim will remain at RM0.60.

Oil price levels. An inevitable event, oil price fluctuations is a determining factor to the Group?s performance.

FINANCIALS

The Group is currently in a net cash position, and is therefore able to gear up where needed for the future. As at 1QFY17 results, the Group has shown a boost in earnings from its deferred taxation. Stripping off the reversal of deferred taxation, the Group?s earnings would register a better net loss position of RM6.7m, which we are positive would continue in an upward trend as performance will be driven by the higher, current stable oil price levels, and with all expected one-offs to have been accounted for.

How is income derived? Revenue is accounted when oil or gas is lifted by the buyer (off take) at most commonly a spot price. Then energy royalty (if any) is deducted, followed by the lifting cost. At the EBITDA level, CAPEX, OPEX and all taxes are deducted before earnings are recognized.

Valuation – fair value of RM0.60. We value Hibiscus? 50% stake in Anasuria Cluster at RM0.60 based on our DCF valuation with an 11.0% WACC. The Group currently owns and operates the field together with Ping Petroleum Limited. Our valuation has accounted for the decommissioning capex and various taxes.

Our base case fair value of RM0.60 is premised on a DCF valuation of Hibiscus? 50% stake in the Anasuria cluster with a 11.0% WACC. We are also positive on a further upside boost of an additional RM0.55 with the potential acquisition of the North Sabah asset. The total fair value of Hibiscus would therefore be RM1.15 if the acquisition is successful, pending approvals from Petronas. The base case scenario however of RM0.60 still offers a potential 37.1% upside from current share price.

contra kaki dah nak kering dah

The dollar hit a 14-year high against a basket of other currencies after data showed U.S. manufacturing activity grew more than expected in November.

A stronger dollar makes greenback-denominated commodities like crude oil more expensive to holders of other currencies.

Traders were also concerned about reports that Libya will further increase production, John Kilduff, founding partner at hedge fund Again Capital, told CNBC.
Libya plans to ship from a port near Tripoli nearly 1.9 million barrels of oil this month from the recently reopened Sharara oil deposit, according to a loading document obtained by Bloomberg.

Libya, one of two OPEC countries exempt from output cuts, has increased its production to 685,000 bpd, from around 600,000 bpd in December, an official at the National Oil Corporation said on Sunday.

Also on the supply front, U.S. oil production increased in October to 8.8 million barrels a day, the highest level since May 2016.

right now investor as so bullish on oil and BRENT possibly hits a new record high of 59 USD.

right now investor as so bullish on oil and BRENT possibly hits a new record high of 59 USD.

hahhah i told you say yesterday i will in this morning. Huh nicely 0.13 profit. But i wont let it go yet. heheheh more to come.

hhahah i told you so. heheh

news not yet come out. but in my view it should move above 0.14 all activity below waiting for completion in Q1 2017 plus the possible new shareholder coming in, plus new CFO, plus settlement of default case and share buy back by Halim Saad and all of below will push up the price even higher than 0.14.

SUMATEC RESOURCES BERHAD (“SUMATEC” OR THE “COMPANY”)
 PROPOSED PAR VALUE REDUCTION;
 PROPOSED RIGHTS ISSUE WITH WARRANTS;
 PROPOSED ACQUISITION;
 PROPOSED IASC; AND
 PROPOSED AMENDMENTS

ESTIMATED TIME FRAME FOR COMPLETION

Barring any unforeseen circumstances, the Proposals are expected to be completed by the first quarter of 2017

news not yet come out. but in my view it should move above 0.14