I think many have the misconception whether credit suise and Pacific are yield investors or otherwise

common sense said that its all depends on the quality of QA, IF is good they will go for long term, if bad, sayonara, short term yield

there is no better time to invest in the low cost oil field than now
Stag field is a good one

brent usd41.20

stag oil usd42++

http://www.theedgemarkets.com/my/article/oil-rallies-us41-near-2016-high-producer-meeting


LONDON/TOKYO (March 17): Oil rose above US$41 a barrel on Thursday, trading close to a 2016 high, bolstered by a plan among some of the world's biggest producers to meet next month to discuss supporting the market. Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers inclu

oil price is bouncing back to usd41++

what an excellent time to buy a good price oil field now than later

once oil price bounced back to above usd50, the confident level will come back but then may be too late to have one at such good price or you may think you shud have owned more of the shares, LOL

but need to check whether the warrant is from IPO to cornerstone investors? is credit Suisse one of the cornerstone investors?

then check Y2014 vs Y2015 - bought from market 10 M - ok
is the 13M from market or IPO?

TIT4N
How you know credit Suisse wa cost is 15cts & 11 cts?

Thanks Oldman for your confident in the deal
Hope to see you at the EGM

coolinvestor - for me, I don't really look much on the nta
more important is the oil price
when oil price increases, the NTA will increase accordingly and all others also improve

yeah, real fear factor in wa
there were huge sellers and equal number of big buyers
tussle between the optimist & the pessimist

Mr8888 - you can appoint the Chairman as your proxy in the appointment section


Posted by Mr8888 > Mar 17, 2016 12:56 PM | Report Abuse

i cannot attend the the EGM, but i want to vote yes. Can anyone give suggestion here? bcoz i don't know who is the proxy who can help me to vote yes in the EGM, i read few times already the requirement in the sona's book, but i didnt understand (i'm new but my share is in large amount), thx.

Kareem - pls read Sona's comments yesterday - if liquidated, the redemption minus all cost will be around 47 cts

Kareemabduljabbar They are fixed income funds. Redemption is 48.5 cts. Where did you get 47.0 cts ? Don't believe the rubbish you read pls. Same PA buying Cliq which is going into liquidation as per bursa disclosure.


rohank71 - it was not true, I attended last year AGM. Presentation & Q&A easily 1.5 hours


rohank71 Dear Sona,

Is it true at the last AGM the Chairman and Board didn't want to answer questions from shareholder after 15 mins of Q&A session?

Federal Reserve officials held off from raising borrowing costs and scaled back forecasts for how high interest rates will rise this year, citing the potential impact from weaker global growth and financial-market turmoil on the U.S. economy.

The Federal Open Market Committee kept the target range for the benchmark federal funds rate at 0.25 percent to 0.5 percent, the central bank said in a statement Wednesday following a two-day meeting in Washington. The median of policy makers’ updated quarterly projections saw the rate at 0.875 percent at the end of 2016, implying two quarter-point increases this year, down from four forecast in December.


Weaker US dollar is good for oil price and RM Ringgit

if you are not in favour of the QA, PLS sell at market price 0.465 and walk away

no point for you to wait for 0.47cts refund (in event of liquidation) and will take few months too

pls do your maths and sell

yeah, both Credit Suisse and Pacific kept accumulating the shares for whole of last week.

TO - SONA MANAGEMENT

Just my friendly advise to Sona Management is to buy out those shareholders OPPOSING THE QA to ensure you garner at least 75% votes.

You can always placed out the shares at higher price (with good profit) once market sentiment improved and oil price recovered.

Who knows the business better than you & you are in the driving seat too.

Cheers Sona

yeah, last 2 para pg 48 said YES. I think shud be right, if you don't attend and vote, considered YES la
but why the contradiction in comments?

T1T4N - not attending or submit proxy form to support is equally to ZERO. Pls read Sona comments-

So please understand this, if you don't attend or you don't submit your proxy form, your share is not counted in the voting. If you wanted to sail thru with the company on this venture, do attend and vote in favour or if you cant attend, do sent in your proxy form.

Posted by T1T4N > Mar 16, 2016 12:37 AM | Report Abuse

@sonapetroleum
What if a shareholder ignore the EGM and does not submit any feedback.
Is this a default VOTE YES FOR ALL?

Thanks Sona Management for your clarification
You have my vote as I am looking at investing for 1-3 yrs period

Pls keep us posted in this forum on your analysis on IRR, costing & production. Hope the production cost can be further reduced in view of the lower oil price

yes, teacher

yup, I agree with ab55

surely, Hadi has ready funds and friendly parties to buy big if necessary.

the price now is not high and he can always placed out at higher price 1-3 yrs later with a profit too once the market is better

credit Suisse and Pacific are like a team in investment in sona
if credit Suisse support, Pacific shud be positive

if QA is approved, the warrants is due in another 2 yrs

I think many contra traders caused the price down

many members think that once QA is approved, the warrants will cause massive dilution of earning is not exactly right

investors will not convert until there is a good premium, its not an immediate dilution of EPS

to convert, there is a cost of 35cts, this will bring more fund to the company for future investment in productive fields, the dilution of EPS will be mitigated

with 11 days to go, surely the promoters will be all out to convince shareholders & will only know the result on 30/3

yeah, be patience, no worry, still have 11 days bfore EGM

yeah, this QA is the best on the table among all

oil price is cyclical, up & down as other commodities, now is an excellent time to buy low and ride on the price recovery

the founders Hadi and gang shud do the necessary ...

after reading the circular, i thought this StaG field is much better than other QAs by other SPACS in terms of pricing, no debts, 100% control and cash balance, etc

if this one dont make it, other SPACs have no hope

its really Hadi job to convince his major shareholders to support. the balls is with him...

that is correct

yeah, tday, move up a little. hope it will gain momentum for greater upside, so everyone has a good ending

if yr name is not in the ROD on 23/3, you cant attend the EGM though you may have bought after the cut-off date

nobody knows unless you print the latest ROD, only the co management knows...

sinking armada
how come yinson is still ok, seems like

just a poker game whether it is 5%, 20% or 35%
yr guess is as good as mine

just typical of retailers mentality
buy today & expect price to shoot up in short time

Check out EGM circular on Bursa website
so much info to digest

(OPEC) want US$50 oil, this is going to become the new anchor for global oil prices.

IRR projection will be significant in investment decision in view of the recovering oil price
if production cost is usd25 and oil price around 45 to 50, I believed the IRR shud be exciting

however, those investors with medium to long term investment holding may differ from those with short term outlook

BULLS VS BEARS

Following steady rises from late February on the back of a falling US rig count, oil markets soared from last Friday after Russia's energy minister said that a meeting between the Organization of Petroleum Exporting Countries (OPEC) and other oil producers about freezing output could take place between March 20 and April 1.

Late on Monday, South American producers also said they would meet to talk about action to support prices.

Gary Ross, executive chairman at New York-based consultancy PIRA, said that oil would recover to US$50 a barrel by the end of the year.

"They (OPEC) want US$50 oil, this is going to become the new anchor for global oil prices," said Ross.

In anticipation of higher oil prices, traders have started to cut back short positions that would profit from lower prices, while opening up new long positions that bet on higher prices.

But Goldman Sachs cautioned of an overblown price rally.

"While these dynamics (rising prices) could run further, they simply are not sustainable in the current environment ... Energy needs lower prices to maintain financial stress to finish the rebalancing process; otherwise, an oil price rally will prove self-defeating as it did last spring," the bank said in a note to clients.

It added that only later this year would production have fallen enough — driven by cuts in the United States, Iraq and Nigeria — to bring it closer in line with demand, although it said it saw a supply deficit by 2017.

Brent holds above US$40 as investors call bottom on oil rout


SINGAPORE (March 8): Oil prices fell on Tuesday on weak Chinese trading data, but Brent remained over US$40 a barrel after jumping to 2016 highs the previous day when producers announced talks to support the market and investors opened new bullish bets.

Brent crude futures managed to defend US$40 per barrel, standing at US$40.27 at 0647 GMT, down 57 US cents from their last settlement. On Monday, the contract had surged over 5.5% in intra-day trading and has gained almost 50% from its 2016 lows on Jan. 20.

US West Texas Intermediate (WTI) futures were at US$37.48 a barrel, down 42 US cents from their last close but over 40% up from their 2016 low on Feb. 11.

On the demand side, China's crude imports jumped 19.1% between January and February to 31.80 million tonnes, or about 8 million barrels per day, despite overall weak trading figures released on Tuesday.

"Higher 'teapot' (independent refinery) demand and stronger refining margins which encouraged higher refinery throughputs have contributed to increased imports. Falling domestic crude production is also supportive," said Virendra Chauhan of Energy Aspects.

oil rout over, OPEC aims for US$50 anchor, says PIRA's Ross


(March 7): Major OPEC producers are privately starting to talk about a new oil price equilibrium of US$50 a barrel, adding to signs that the market's long, deep rout is officially over, says one of the industry's leading prognosticators.

Gary Ross, the founder, executive chairman and chief oil soothsayer at New York-based consultancy PIRA, told clients 2-1/2 weeks ago that he reckoned the "lows are in" for crude, which was then about US$30 a barrel. U.S. futures have rallied since then to close at nearly US$36 on Friday, with a handful of analysts also cautiously calling a bottom.

In an interview with Reuters, Ross said oil should recover to US$50 a barrel by the end of the year, potentially aided by eventual supply cuts from leading producers among the Organization of the Petroleum Exporting Countries (OPEC).

"They want US$50 oil, this is going to become the new anchor for global oil prices," said Ross, one of the industry's most respected forecasters for his bold price predictions and decades-long history of consulting with OPEC members.

my estimate only a minority group looking for short term gain are against the QA, probably less than 5%

brent soaring usd40.70
oh wow

next 45/50

Hope to see you guys there to support the QA
Those that cant attend, you shud submit your proxy form before deadline

GENERAL MEETINGS: Notice of Meeting

SONA PETROLEUM BERHAD

Type of Meeting Extraordinary General Meeting
Indicator Notice of Meeting
Description Notice of Extraordinary General Meeting
Date of Meeting 30 Mar 2016
Time 10:00 AM
Venue Sabah Room, B2 Level, Shangri-la Hotel Kuala Lumpur, 11 Jalan Sultan Ismail, 50250 Kuala Lumpur
Date of General Meeting Record of Depositors 23 Mar 2016
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5024041

prc4wife- wow 4 wives
that why I said need to do an analysis for comparison
by-the-way, I only have one wife- she is sona

just speechless...

Reach just announced a possible QA costing RM600M+, somewhere in ubzekistan?

Now is good to compare which one is better, hehe

hope an analyst can do a comparison between this field and Stag
in terms of reserves, costing and production

oh wow
brent soaring usd39.09

my estimate, a minority group will opt for refund probably less than 5%, then balance 95% cash, half will go to Stag and the balance will go to buy another new field in the near future once the current QA is approved

in future, we have a mini PETRONAS Sona

exactly, if credit suise & Pacific are after yield, then they shud not be selling cliq and buy sona since there is a possible higher return once trust fund is refunded by Cliq

that means both credit suise and pacific are expecting higher return by investing in Sona once QA is approved and oil price turnaround from the bottom