Hibiscus Q2 generated a revenue of 284 million (or about 95 million per USD 25 crude oil) and a profit of 48 million on an average selling price of USD 75. Assuming the exchange rate has barely change and the production is about the same as Q2, Hibiscus Q3 should be able to generate a revenue of 379 million and a profit of 93 million (assuming 50% of the additional revenue is profit) based on its current asset ex-Repsol deal and average selling price of USD100 per barrel. Repsol deal should only contribute 2 months of revenue and profit given deal completed end of Jan. Exactly how much is yet to be known. My guess, assuming the Repsol deal is about to contribute 50% of profit, Hibiscus should be able to report 150 million profit for Q3. What do you guys think?

wordless...

dragon, think your number is wrong, Hibiscus latest quarterly report suggested at avg selling price around USD 75, the PAT is RM 48 million...

so sad hibiscus can't break 1.50 as brent broke 130...

129 brent and hibiscus 1.32???

selling bjtoto soon? why the need to change name???

I am kind of hoping it will be at least 1.5x right now given the extra USD 20 brent crude...

when brent first crossed 100 a few weeks ago, hibiscus reached a high of 1.3x. Now, brent is above 120, and hibiscus is still at 1.3x???

1. 50 is OK, 1.70 is fair, 2.00 is mamamiya,thanks to Putin, above 2.50 is oh, my God!

needs to break 1.50 before can rise above 1.70?

no harm voicing my surprise while waiting for it to continue rising...

that's a dream...

real surprise hibiscus is not even 1.50 right now...

What a joke, only manage to close at 1.30? And I thought 1.50 should be the minimum already...

Big joke, Taiwanese news reported yesterday Americans and Europeans were buying big time in Russian oil cause they're cheap, what economic retaliation? Pui...

when crude oil crossed 100 a few days back, hibiscus saw a high of 1.3x. Now, brent crude crossed 116, hibiscus can't even reach 1.40???

Time to fly towards 1.50 tomorrow?

unbelievable...

with over 10% rally in brent crude, I thought Hibiscus 1.50 is a certainty, guess not...

And that's Biden's unwavering support to Ukraine?

sigh! and i thought we are going to see 1.50...

1.50 soon?

hibiscus not even 1.50 with brent crossing 97, what to celebrate???

disappointed by the just announced quarterly earning, sigh, was expecting something between 55-60 million.

no money to pay dividend this quarter and probably next quarter as well, given the need to pay back the credit used to pay for Repsol deal.

With brent above 80, I would have expected Hibiscus to at least trade between 1.30 and 1,60. Now, if brent were to stay strong above 90, I wonder how much I should expect with Hibiscus...

Hibiscus traded above 1.20 and hit a high of 1.3x when brent was traded above 70 (or is it 80) a few years back, now Hibiscus is only worth 1.15 with trend reversal signal despite brent is now above 90 (whether it's sustainable or not, which expert can really tell?) and Repsol deal is shown to be a good deal given higher crude selling price relative to forecasted price used in the purchase???

1.13 for a 93 brent? wordless...

fainted, same feeling here, thought with brent crossing 95, we would be seeing Hibiscus limit up today to trade above 1.30...

guess holding so long brent is still above 80?

History of brent crude oil price has shown that it's very volatile, it would be crazy to assume a PE of 10 to commodity companies right now, unless crude oil price were to show a relatively stable price range for at least a year or two...

Sigh, and I thought we are going to cross 1.20 today for sure...

and i thought hibiscus should cross 1.10 easily, sigh!

What's more, Hibiscus celebrated a Brent above 80 with share price above 1.20 before Covid-19 pandemic. So, the only possible reason would be market is concerned, whether there'll be too much dilution and if the deal is good, over the Repsol deal then when Hibiscus could only celebrate a crude above 70 with 0.97 share price. Though, with the recent completed Repsol deal and a proof than the management has betted correctly with the Repsol acquisition, i.e. the brent has risen sharply compared to when the deal is negotiated and signed. Yet, there's still so much noises believing that Hibiscus is over-priced???

When brent crossed 70 a few months ago, Hibiscus celebrated with share price of 0.97. The next time when brent crossed 80, Hibiscus barely crossed 0.90. With the recent high of brent above 90, Hibiscus barely crossed 1.00 for a few moments. Has the "green movement" escalated over the last few months with 10x more windmills, solar panels, hydro and nuclear?

Err... If I were not wrong, Q4FY21 reported 49 mil profit when brent avg 62 and Q1FY22 reported 40 mil when brent avg 72. The reason for lower profit when brent is higher is due to higher down time. So, assuming back to normal, brent 72 should provide hibiscus earning that's much higher than 49, say between 55-60mil? And with brent above 80, guess earnings will be even higher. According to the management, repsol acquisition is expected to provide 60% cash flow or earnings before tax (can't remember.) I believe hibiscus should easily report 500 mil a year with crude above 80. Though, it would be very risky to use PE higher than 8 to price hibiscus given commodities tend to be very volatile, unless crude were to stay above 80 consistently for more than a year.

Unbelievable, thought we would have crossed 1.10 easily...

I'm hoping for something between 1.30-1.80, possible?

fainted, with this news and yet Hibiscus can't fly above 1.00? Guess will have to wait until the balance sheet + earning post acquisition to see Hibiscus flying, sigh, another 4 months wait...

If Repsol's contribution is according to what Hibiscus management mentioned, it'll be quite significant.

Finally, we'll be able to know exactly how much borrowing and lucrative Repsol deal is going to be...

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3227592

On behalf of the Company, CIMB Investment Bank Berhad wishes to announce that Repsol Exploración, S.A. (“Repsol”) has informed Hibiscus Petroleum that it has received the joint approval of Petroliam Nasional Berhad and Vietnam Oil and Gas Group dated 19 January 2022 for the change of control of Repsol’s rights, interests and obligations through its affiliates under the Block PM3 CAA production sharing contract (“PSC”) and unitisation agreement of the East Bunga Kekwa – Cai Nuoc field under Block 46 PSC to Peninsula Hibiscus Sdn Bhd (“Peninsula Hibiscus”).



Following receipt of the joint approval, Repsol and Peninsula Hibiscus have also confirmed the fulfilment of all conditions precedent under the sale and purchase agreement dated 1 June 2021 (as referred to in Section 2.1 of Appendix I of the Circular dated 13 December 2021 for the Proposed Acquisition) and that the parties will now proceed to completion of the transaction accordingly.

Err.... Yesterday's not that a joke compared to today's, hibiscus down 1.14% while hengyuan up 2.74%, wordless

I didn't sell, just pissed off by the unbelievable share price performance...

VT owns 7-11 through his own private vehicle. Initially owned by BCorp, 7-11was parked under BRetail which was listed years ago and privatized by VT (not BCorp) after being listed.

Hibiscus rose 1.16% while Hengyuan rose 3.61% and Hibiscus is the oil field owner while Hengyuan is a refiner? What a joke!

fainted, the last time brent crossed 86, Hibiscus reached a high of 0.97. With brent now crossing 88, Hibiscus can't even break 0.90...

kakiminyak, I wish I know, guess that's why hibiscus share price priced in only the dilution but not the Repsol's earning addition...

I expect hibiscus to make 400-500 mil a year post Repsol acquistion, do you think it's too ambitious?

what? celebrating crude oil crossing 86 with a falling share price?