kahhoeng

kahhoeng | Joined since 2013-12-02

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Stock

2 days ago | Report Abuse

pray ungu well bringing good news soon...

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3 days ago | Report Abuse

some knew about the Merah Well negative news few days back

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3 days ago | Report Abuse

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3427300

Reference is made to a disclosure made on 22 November 2023 (and further updated on 20 February 2024) in respect of an exploration drilling campaign (“campaign”) conducted by our indirect wholly owned subsidiary SEA Hibiscus Sdn Bhd (“SEA-H”). The campaign comprised a drilling program to drill 3 exploration wells, namely South Furious Ungu, South Furious Ungu ST and South Furious Merah to evaluate prospective Near Field exploration locations within the boundaries of the 2011 North Sabah Enhanced Oil Recovery Production Sharing Contract (“2011 PSC”).

The campaign initially kicked off at the South Furious Ungu well location on 29 October 2023 and later moved to the South Furious Merah location on 19 January 2024 after drilling the South Furious Ungu ST well. Whilst the drilling rig is still on location, it is expected to be released as soon as work is completed at the South Furious Merah site soon.

South Furious Ungu Well and South Furious Ungu ST Well

At the Ungu Prospect location, several samples of gas and one sample of oil were recovered. Subsequent laboratory analysis of the samples confirmed these preliminary findings. All the data collected through drilling operations at the Ungu Prospect location are currently being reviewed and after a more detailed interpretation will be developed to inform the relevant parties of the proposed next steps.

South Furious Merah Well

At the Merah drill location, evaluation and sampling efforts recovered one sample of gas. This sample has been sent for further laboratory analysis. Even though a sample of gas was recovered and brought to surface, our preliminary assessment is that hydrocarbon volumes seen in this well may not achieve commercially viable economic thresholds.


Rig: Next Steps

The Petro Vietnam-III drilling rig will soon be released for further drilling activity in Peninsula Malaysia with Hibiscus Malaysia Oil and Gas Limited.

Costs

Capital costs (net of tax to SEA-H) estimated for the Ungu wells are expected to be in the range RM54 million whilst capital cost estimates for the Merah well are expected to be in the range RM27 million. At this stage, we expect to write off the capital cost estimates of RM27 million for the Merah well in the Group’s financial statements for the quarter ending 31 March 2024. The treatment of the costs of the Ungu well in the financial statements will be ascertained upon confirming the final results from the Ungu well, and will be announced at the appropriate time. All capital costs were funded from internal resources and the costs associated with the campaign have been included in the SEA-H cost recovery bank.

All other operations are progressing smoothly.

This announcement is dated 1 March 2024.

Stock

4 days ago | Report Abuse

at curent brent price, Hibiscus is at least making 400-450 million every year, making Hibiscus a company with PE less than 5.2???

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5 days ago | Report Abuse

Redtone has a market cap of close to 800 million and BJCorp owns approximately 40%, or about 300 millions. Not that significant lah...

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6 days ago | Report Abuse

no money for buyback lah... all into oilfield development

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6 days ago | Report Abuse

wordless... oil up, hibiscus not moving, oil down, hibiscus down

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1 week ago | Report Abuse

the quarterly report may not be good at all, given poor Toto performance... Can only hope for a compensation announcement on Turf Club case???

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1 week ago | Report Abuse

Hibiscus market cap is currently valued at 2.13 billion. It's reporting a net profit of 256 million in the first 6 months of FY24, generating a healthy operating cash flow of 560 million. At current crude oil and natural gas prices, it's looking to make at least 450 million FY24, i.e., Hibiscus is trading at 4.7 PE. Even though they are of different sectors within the oil and gas sector, just compare its earning, market cap with Hengyuan, Petron, and PetDag.

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1 week ago | Report Abuse

And I thought Hibiscus would easily cross 3.00 by now and gradually climb towards 3.50, sigh!

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2 weeks ago | Report Abuse

brent up, armada up 2.7% and.... hibiscus nothing???

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3 weeks ago | Report Abuse

I have waited so many years, running now seems strange... Genuinely hope there's more upside for both bcorp and bland

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3 weeks ago | Report Abuse

fainted, brent above 81 and hibiscus still 2.54-2.55, proxy to oil price???

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1 month ago | Report Abuse

there's so much with BLand lately, earning recovery, awaiting Sungai Besi compensation, hotel development in Japan, and potential HSR project. Still, BLand traded at 0.44 with a market cap of RM 2.2 billion???

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1 month ago | Report Abuse

fainted, another pump and dump???

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1 month ago | Report Abuse

and I thought it would easily cross 0.60 already with the news...

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1 month ago | Report Abuse

Would it work without a China partner? Thought need to eventually connect all the way to China???

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2023-11-26 22:13 | Report Abuse

Making 150 mil in Q1, 500 mil FY reasonable? So currently traded at PE less than 5???

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2023-11-07 13:39 | Report Abuse

To my understanding, GDV of Okinawa Four Seasons includes land value (which is either paid or current under loan agreement years ago,) earlier work in progress (no idea how much has been spent on the project) and expected earnings (was it reported earlier?). So, BLand does not necessarily need to raise another USD 700 million for the project.

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2023-10-31 10:25 | Report Abuse

no telling how the selangor government going to respond and how much BLand will be compensated? so, better wait for final outcome first???

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2023-10-18 11:29 | Report Abuse

think most want to see the impact of recent oil price on hibiscus quarterly earning to be reported next month. If oil price stays and earning result is good, we should see a correction upward, otherwise, we will continue to stay at this level???

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2023-10-18 11:07 | Report Abuse

despite what you see in the brent future price, I think the spot price has only dropped below 90 on the 6th and 12th of October, and Tapis mostly between 99 and 105 the last 30 days (refer to the last chart)

http://www.aip.com.au/pricing/international-prices/international-market-watch

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2023-10-03 20:46 | Report Abuse

err... VT kept selling shares through direct business transaction for a while and all of a sudden buying back through direct business transaction again???

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2023-09-26 19:12 | Report Abuse

would BURSA accept direct business transacted shares as floating shares???

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2023-09-21 12:13 | Report Abuse

USD to MYR is above 4.60, Brent is above USD 90 with Tapis around USD 100, and Hibiscus production is expected to rise 6%-10%, what's to be worried about? What I'm pissed off is the failure of share price dancing along strong Brent and USD-MYR exchange rate.

Stock

2023-09-21 10:29 | Report Abuse

brent up, hibiscus no up, brent down, hibiscus down, sigh! Guess has to wait until Q1 QR is released in November.

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2023-09-19 12:04 | Report Abuse

nobody want to buy lah...

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2023-09-15 16:23 | Report Abuse

declare dividend first lah, BLand directors mentioned about dividend last year!

Stock

2023-09-12 11:21 | Report Abuse

James_Bond, you mentioned recession coming and Hibiscus deserves to fall further. Truth is, world economy is slowing down but recession is yet to be seen, only forecasted to come within the next 12 months. Will it come? I don't know. Though, you seem so certain that I have to say nonsense, cause nobody knows the future for certain.

Even if economy is slowing down, major oil producing countries have been working hard to rein in supply, notably Saudi and Russia. Will that work in supporting oil price? I don't know, but surely it's working pretty well right now. US oil inventory is falling and SPR is having a hard time buying back what it has released. This has supported oil prices above 90 now and encouraged oil price to head higher currently.

What's more, Hibiscus is trading with a PE of around 5 while Occidental, an oil producing company Berkshire is holding, is trading with a PE of around 11. If Hibiscus is currently trading with PE higher than 10, then your concern might have a point. With PE of 5, how low do you expect Hibiscus to fall, another 50% just because economy is forecasted to go into recession? If it's just 5-10% correction, I would rather hold and wait. If it's 10-20% correction with no sign of oil trading below 75, I suppose I would also prefer to hold and wait.

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2023-09-11 19:00 | Report Abuse

today KLCI's top 10 gainers, 5 of them are oil-related, including MISC, PChem, Petdag, Petgas and Dialog. I don't know why Hisbiscus is down today, but surely not your nonsense!

Stock

2023-09-07 20:08 | Report Abuse

10% is good enough? Brent rose more than 25% from around 72. What's more, when Brent last traded at a peak of 87, Hibiscus reached a high of 1.16(or is it 1.18?). Now, Brent is above 90 with more upside potential.

Stock

2023-09-01 20:44 | Report Abuse

doubt crude oil price will drop much if FED were to increase rate. Saudi and Russia have so far been consistent on seeking a higher crude oil price to the extent of voluntary production cut.

Stock

2023-09-01 15:46 | Report Abuse

Cheers what? With brent now above 87, Hibiscus should easily above 1.20. If traded above 1.30, its just catching to market. Cheers? Need at least 1.40 lah...

Stock

2023-09-01 14:12 | Report Abuse

Still can't even break 1.00? And I thought we should have easily crossed 1.20 already...

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2023-07-17 13:25 | Report Abuse

need money to take private BLand, so no choice but to sell???

Stock

2023-07-15 17:22 | Report Abuse

where's the news about BCorp selling Berjaya Envrio? Thanks

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2023-07-14 18:57 | Report Abuse

distributing BLand shares to BCorp shareholders to avoid delisting???

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2023-07-04 18:40 | Report Abuse

from buying to selling???

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3367042

1 30 Jun 2023 5,100,000 Disposed
2 30 Jun 2023 4,393,524 Disposed

Stock

2023-06-30 18:25 | Report Abuse

Bought another 38 million shares???

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3366190


Date interest acquired & no of securities acquired
Date interest acquired 27 Jun 2023
No of securities 21,500,000

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3366184

1 27 Jun 2023 16,912,000 Acquired Deemed Interest

Stock

2023-06-29 19:50 | Report Abuse

VT no longer majority shareholder of BJCorp, but it's him in the picture when buying planes for BJLand, what's this telling you???

Stock

2023-06-29 19:50 | Report Abuse

VT no longer majority shareholder of BJCorp, but it's him in the picture when buying planes for BJLand, what's this telling you???

Stock

2023-06-23 20:48 | Report Abuse

Err.... Actually, VT no longer the majority shareholder of bjcorp while a higher offer to privatise bjland will benefit him the most, he's the second largest shareholder of bjland after bjcorp

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2023-06-22 19:51 | Report Abuse

if can really make >30% gain in 3 months, the price would have already shot up...

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2023-06-22 09:51 | Report Abuse

I think the above number is incorrect, BJCorp already owns 3,984,338,496 shares of BJLand. Meanwhile, VT is owning 308,449,276 personally. The total of shares owned by BJCorp and VT already exceeds 4.29 billion shares, leaving around 700 million of shares floating around.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3363249

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3324670

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2023-05-26 09:06 | Report Abuse

0.05 dividend per year is more reasonable... current level is way too absurd

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2023-05-10 20:55 | Report Abuse

Miserable dividend, probably the reason why