its not over paid, it is over priced !!, they haven't paid a single cent yet.

now, still negotiating to lower the purchase price - buyer is desperate to buy due to time constraint while seller is desperate to sell for cashflow purpose - both side pandai pandai to compromised on the pricing lor

In any sales and purchase of business, surely there is a premium over the net asset value of the company, in this case oil field, not much info was given on the over priced value and methodology to calculate over valuation. this is the issue when oil price is low, but when oil price appreciate, I bet the sellers will said the same thing - under priced. LOL

true, just common sense if reject QA can get refund of 47cts

the share price must be above 47cts for shareholders to support the QA during EGM or else just sell the share at market price. They need 75% shareholders support

if share price remain 45cts, many shareholders may just reject the QA and get 47cts refund

I think Hadi is not an idiot, shud understand the basic market common sense

why last 2 days, high trading volume in warrant, someone bought, why?

chan sifu - is it the bottom? when is the recovery?
rm10 m dollar question

if EPF knows, they are god (& not humanly managed)

as SC has approved the QA, next round is shareholders during EGM next month likely March

factors that can affect share price movements from now onwards

1. successful nego lower purchase price
2. movement of oil price, brent usd33++
3. big funds buying and selling

http://www.theedgemarkets.com/my/article/sona-petroleum-negotiate-lower-acquisition-price-aussie-oilfield

Since independent consultant said the purchase price is not fair (due to lower world oil price. What if oil price shoot up later in the year? then purchase price is a steal. LOL.)

I bet Hadi will negotiate for a lower price and get all big stakeholders to support the deal esp Credit Suisse and Pacific Alliance.

better for EPF to sell all 13% stake

and pay us good dividend

the deal will go through

I think they are waiting for Bank Negara approval that that take about 6 month, probably by March
don't worry, sell back to them at 2.70

Hope, they can give small dividend too... for waiting.. which I don't think so as they are very kedekut type

the founders are not stupid people, they want the deal to go through

they are in Perth negotiating for the best price

the sellers know Sona is running out of time but they also need cash as soon as possible and there is no better deal on the table for them

I believed both parties will compromised on a possible lower price in a win win situation in current oil price environment

EPF sell about 1.0 million daily
hope EPF sailing all bfore too late

there are always morons in the market that think differently
one man poison is another man food

don't think EPF lost money
their cost if at ipo level surely below 2.0
can still make profit at current price

once oil price go above usd35
can expect fireworks

once EPF sell all 12%
the share price will drop below 1.80
probably around 1.40 in 6 months time

son flying up 33%
indication of QA approval

well supported at 45 cts
Pacific Alliance accumulated 12% stake in 2 months
that speak volume of the counter and potential upside once QA approved soon

the stock is getting stronger
QA is coming

EPF shud sell all and pay good dividend to members
better sell all above rm3 then wish for the past...
all the chinammen cant be trusted, sooner or later, perhaps a year later the price will drop to below 2.0 or even to below 1.50

few sellers at 45 cts
now 45 cts is the support
looks like can fly leh
once QA approved and oil price rises

QA approval expected soon

45 cts strong
strong accumulation by Pacific and credit suizze

chinamen is good in cheating, will run the company down to 1.50

better for EPF to sell at current price and realized the profit than holding investment in a Chinamen company that has bad reputation

once QA is approved, the big players can goring the counter according to oil price movements

QA approval likely after CNY

oil up 6%, usd 35.30

son seemed strong
mother not too bad
smelling the QA is coming

maggiel, u are back
where have you been last decade, the lost decade

now back to usd35.34

super strong

the counter is so irrestible for Pacific alliance and Credit Suisse
One day Pacific slurpppp
another day Credit slurppp

both brothers just slurpppping
http://www.bursamalaysia.com/market/listed-companies/company-announcements/4990761
http://www.bursamalaysia.com/market/listed-companies/company-announcements/4989429

after 3 hours still 35.37

very good signs

35.37 is a very good price
need to consolidate before next surged

rarely pn17 counter come back to life, if any

usd35.43
after strong surged last week
correction is expected

as long as it is around this price, its alright
price is volatile, can swing up and down by 5%

this morning went as high as above usd36

usd35.26, down a little

no problem, can rebound fast

as long as price around usd34-35, not too bad
need to consolidate around that price since up usd4+ last week
once OPEC and Non Opec cut production
the price will fly above usd50 sup sup sui

http://www.themalaysianinsider.com/business/article/oil-rises-pares-losses-in-january-on-hopes-for-production-deal


Moscow has sent mixed signals, eventually saying veteran minister Sergei Lavrov, who almost never comments on oil policies, would visit the UAE and Oman to discuss oil markets. Cash-strapped Venezuela is also sending its oil minister to Russia on a tour beginning today of non-Opec and fellow Opec states. "The market has rewarded these statements about the possibility of a deal, even though I think it's ridiculous," said John Kilduff, partner at Again Capital LLC in New York. He noted that Iran and Iraq were determined to boost production, and were unlikely to come together with Saudi Arabia to cut Opec output. The Saudis have made no official statement on a deal. "This is a rally on false hopes, unfortunately" Other analysts said prices may have found a bottom and could rally as high as US$45 by year-end as non-Opec supply is reduced and global demand improves. US oil production fell in November for the second straight month and US shale producers, who have helped add to the glut, have slashed 2016 capital spending plans more than expected. Meanwhile, the US oil drilling rig count fell for the sixth straight week with more cuts seen, oil services company Baker Hughes Inc said. "With more energy companies announcing cuts and Opec contemplating a cut, it looks like oil is forming a bottom," said Phil Flynn, an analyst at Price Futures Group in Chicago. "Now the question becomes how high can they go. The charts look like a test near US$40 is on the cards." - See more at: http://www.themalaysianinsider.com/business/article/oil-rises-pares-losses-in-january-on-hopes-for-production-deal#sthash.avjc68Nm.dpuf

http://www.theedgemarkets.com/my/article/oil-heading-weekly-gain-supply-cut-deal-hopes

a 5% production cut by just Saudi Arabia and Russia would be sufficient to bring the market close to balance," Jefferies said in a research note on Friday, referring to Russia's comment.

errrrrr

incomplete documents either showed incompetency of directors or they were actually bull shitting everyone with the deal when there was no plan to get the QA approved in the first place

oil price last Friday was usd31++
this week Friday usd35.99
up usd4++ a week
what a super week

another 2-3 super weeks, we can all celebrate cny early

the doom story of the year

imagine what is the price
when QA is approved
oil price is steadily up above usd50 once OPEC and NON OPEC came to agreement to cut production

the stock story is on everyone lips
the price just boom boom boom...

wah, closed at usd35.99 and strongly
sona got hope to rally once QA approved

the founders cum directors lost peanuts, 1ct share investment and big fat salary

what they care for others investors

just unbelievable, the documents submitted to SC also incomplete
just incompetent group, shud be fine by SC

Bursa Announcement

We refer to the Company’s announcements dated 31 July 2015 in relation to the submission of the application for the Proposed Acquisition to the SC and 14 December 2015 in relation to the submission of the revised application for the Proposals to the SC (“Application”).

On behalf of the Company, Maybank IB wishes to announce that the SC had vide its letter dated 29 January 2016 addressed to Maybank IB, returned the Application as the SC is unable to proceed with its review due to required information and documents that have yet to be submitted to the SC relating to several fundamental matters in relation to the Application that have yet to be addressed, in particular:

(i) Supporting data used in the assessment of the volume of oil reserves by the independent technical expert that has yet to be provided to the SC. Without this, the SC is unable to determine if disclosures to shareholders of CLIQ are appropriate;

(ii) An independent expert was appointed to provide a fairness opinion as required under item 4, Part F of Appendix 10B of the Main Market Listing Requirements issued by Bursa Securities (“Fairness Opinion”). However, the independent expert has relied on the asset valuation report prepared by the asset valuation expert, despite not taking a view on the reasonableness of the report and its contents, in arriving at its fairness opinion. This qualification has been specifically stated in its Fairness Opinion. As a result, shareholders of CLIQ would not have the benefit of a fairness opinion that encompasses all aspects that they need to consider to make an informed decision; and

(iii) The technical reports prepared by the independent technical expert and the Fairness Opinion have not been updated to reflect the current oil prices trends. This is not in compliance with paragraph 3.34 of the SC’s Guidelines on Due Diligence Conduct for Corporate Proposals.

hehehe, nice jokes

whatever it is oil price is hot
usd35.70

usd35.70, red hot for future rally