Wah!! today straight meltdown. So fast and furious.

I am not an expert, but my belief is they are referring to quantity as the numbers are about reserves in the ground. Therefore it does not seem to refer to price.

Thank you for sharing sir. The advice is very crucial. I hope people appreciate it.

Today Hibiscus should fly, that is the only important thing. It is about today!!!!

Don't worry what Bill Gates say about oil industry as he is making prediction for 30 years in the future. By then he may be Gate keeper in heaven.

ha ha yeah!!

If not late life Repsol won't sell the asset. Be rest assured this will benefit Hibiscus. Thanks for the info guys.

The crystal ball is very murky, cannot see what is coming up ahead. The Pandemic has hit economies worldwide and for such a long time already. Many countries and companies are in big trouble. Can last for how long some more? just when people are trying to survive, the cost of everything is shooting up. It is a tough environment. What lies ahead? Who knows?
Just keep some emergency funds, just in case this nightmare continues. Price of oil going up or coming down? nobody knows lah. You want to bet, it is no different from casino. Can try your luck.
Myself not interested in gambling. Already sold out at 92 - 94 sens. Hands in the pocket, will wait.

KingKong You are right there is under investment in oil sector. Big oil companies are under pressure from western governments and environmental groups to shift investment into green energy. Smaller players such as hibiscus are now taking over some of the assets. It looks like a good investment, the purchase of repsol oil and gas fields. When demand starts to increase and oil price is good, the small players should do well.

As i have mentioned above, the pipeline is for transportation of natural gas to Europe. How does that affect crude oil price I believe is your question. Well quite a bit of the recent runup in crude oil price can be attributed to Natural gas price having sky rocketed. That has many industries and power plants switching to crude for their energy needs. The high demand pushed up the price of crude oil even higher together with increasing demand from re-opening of economies from pandemic slowdown.
Bear in mind the pipeline is already complete and just waiting for approval to pump gas to European countries. When that approval is obtained, the froth in the natural gas and crude oil prices will quickly disappear. Just my opinion.
Also another thing to look out for is Delta plus variant now spreading quite fast in many countries. Russia is going into lockdown Oct 30th to Nov 08. China too is starting to get affected. If travel restrictions start to happen in many countries. the demand for crude oil is going to fall.
I am just sharing my view. Please don't panic. Read the information out there and make your own decision.
Hibiscus is a good counter. I will invest again in time to come. Cheers!!

I am more afraid of Putin than anything else out there. His Nord stream 2 pipeline if approved, could send crude oil price into big correction mode. He may sell out opec+ to gain the approval to pump more natural gas to Europe. That approval may affect energy sector. Just keep an eye out for that. Just a warning.

Thank you Greg.

bclim_83 Nice info, thank you. I am new to this counter.

50:50 go up or down. Ting Tong lah. There may be profit taking soon. Oil market has no direction until Nov 04 Opec meeting. After that will know. If Opec pump more oil, price may go below $80/barrel . If Opec don't supply more oil into market, Oil price will go higher. Maybe cross $90. Christmas and new year holidays will bring more demand increase.
I sell half so either way price goes, I am o.k. Now is not the time to go all in.
Cheers!!

and when you buy petrol for the mercedes , oil price shoot higher some more Yeh !!! clap ! clap ! clap !

Bila sudah capai 5 ringgit, kita bagi windfall tax sama gomen 5 sen. Cukupkah? Sekarang too early untuk cerita.

Electric car sales should rise with higher oil prices. Anyone knows which stocks on bursa can benefit ? This way we can bet on both the horses.

Electricity generation in Malaysia uses large amounts of natural gas and diesel. Hibiscus new assets from Repsol deal involves crude oil and natural gas. Hibiscus is moving in the right direction. They are capable of supplying energy for both oil burning (conventional) engines as well as electric cars. There is nothing to worry about.

G7 meeting this weekend. U.S. going to make announcement- Donating 500 million Pfizer vaccines to poorer countries. European countries expected to donate also. This is good news for reopening of travel in many countries in the coming months. Demand for crude oil should start to rise. Good times ahead.

Jojobaa Your views and analysis is much appreciated. I am in for the long term. Short term market fluctuations in share price does not matter to me. May the Bunga Raya grow many branches and flowers. Cheers !!!

oil price go up is not enough. Demand must go up for higher revenue. Crude oil price go up because Opec+ squeeze the supply. But production is cut, which means less money for the producers. Have to give the market time to recover. Hopefully by next year. Stay cool guys.

Hats off to you Jasonn. Nice to have you on board sharing your analysis.

Ha! Ha! Ha! Pang72 You could be right.

DickyMe 60 sen you can try serba dinamik. Good chance to get.

Thanks to seller, just add more @ 0.705

Good point. One ship is burning the other one is sailing so which one is better?

Let's see if Hibiscus has the highest volume on bursa June 08.

The share market is like going out to fish in a vast ocean in a little boat. You may get some fish to eat but at the same time you may become food for some sharks swimming around your little boat. It is definitely a very interesting place to be. Just don't stick your hand out too much. Get ready to move away quickly when you sense danger and ready to move in fast and furious when there is a wonderful opportunity. Sometimes you have to grab and go, sometimes you can stay and keep pulling in. There is no one method to use all the time. No such formula. You must change your style as you go. Just like water will change it's shape according to the vessel you put it in. I am from the old days. The Bruce Lee era. Ha ! Ha !

Godofgambler Just hold but not for years la..too long.
We need money also from time to time..

Let's hope for some dividend. Maybe next year?

Wish you guys all the best. Those who saw this coming and went in early, congrats. Those that will hold on and not play the short term roller coaster, even better. The glove counters last year was a good lesson. I made the mistake of selling out too soon. Only to see the stock price of supermax climb by more than 10 times in just a few months. This time I will not make the same mistake. This counter has solid potential. Maybe best to hold for a few years. No more itchy fingers playing with the keyboard.

By the way I am Singh. We always fight for our country, regardless of race or religion. We are all children of one GOD.

This is one of the few truly Muhibbah counter. Got Indian, Chinese and Malay. This is truly bunga raya. The Indian here is highly educated , the Chinese here is a shrewd businessman and the Malay has the connections including Islamic financing. Please do proper research and don't bad mouth anyone. We are all Malaysians. Foreign investors also looking at us to see how we work together. After 1MDB our reputation already masuk longkang. Hibiscus Petroleum will raise our flag up high for all to see. We can do wonders. When we are all dedicated to nation building. Now put your best foot forward and lets march together.

“The company anticipates completing the transaction in 2021. However, given that the effective date of the proposed acquisition is Jan 1 2021, all economic benefits and risks from that date will accrue to Hibiscus Petroleum,” Hibiscus said.

Ladies and gentlemen the price of Brent crude on Jan 1 2021 was U.S. $ 51

Today is above $71 !!!

The value of the asset purchase already shoot up by 40 % since Jan 1st. Ho! Ho! Ho!

It is going to fly to the mooooooon next week.

Limit Up !!!

yeah makan kek dulu.

Lagi best kalau minggu depan harga minyak cecah peringkat $75 se tong. Bunga raya akan bloom nanti. He ! He !

Miz Raya Saya rasa untuk bayar tunai asset baru ini mungkin Hibiscus akan jual syer (fund raising exercise). So buat sementara mungkin mereka ini sedang buat persiapan berapa syer dan pada harga yang sesuai baru buat press release. Itu lah saya rasa sebab suspend dekat satu minggu. Mula trading pada June 08 nanti.

Making money is not in my hands. Just pray for good luck.

Don't worry green energy does not mean end of oil. The world is actually going to face a shortage of crude oil for many years to come. Read the following report by expert research.
The world will not have enough oil to meet demand through 2050 unless exploration accelerates.
https://www.rystadenergy.com/newsevents/news/press-releases/the-world-will-not-have-enough-oil-to-meet-demand-through-2050-unless-exploration-accelerates/

By the way as we speak crude oil price continues to rise. Already at $71 now. Ho ! Ho ! Ho !

Bidding for these assets was done months ago when crude price was much lower. Looks like positive news to me. The reserves they are acquiring is about 70 million barrels. At U.S. $212 million , it works out to about 3 dollars per barrel. Tell me this is too much. Ha ! Ha !
Look forward to a nice opening on tuesday.

This deal could be more than RM 1 Billion in size. They may have to issue more shares to raise the funds. Let's wait and see the announcement.

Godofgambler Yeah you can meet me at kopitiam ha ! ha ! ha !

Don't worry some time people like to buy lots of toilet paper, even willing to pay double the price.

hendrycheah It is a case of easy come easy go. Some people don't want to wait for conversion. So just sell since they bought very cheap price.

Linheng Those petro counters not doing too well, their revenues have not recovered. Check the quarterly reports and you will see.

My top picks are Hibiscus and Armada. They have the most potential to go up. This coming week should be super hot.

Satu perkara saya melihat selalu. Bila banyak trader confident harga akan naik, ikan yu tak suka so dia sabotage. Buat harga jatuh, lepas tu dia sapu.
Sekarang kita kalau lihat J&J vaccine dapat approval, market melambung tinggi , Dow melonjat 600 point tapi minyak pulak menjunam. Celaka kan.

Dividend Details
Setengah sen per share

22 Feb 21 Announcement date
30 Jun 21 Financial year
08 Mar 21 Ex- date
09 Mar 21 Entitlement date
08 Apr 21 Payment date
1000 share dapat $5.00, 10000 dapat $50.00, 100,000 dapat $500.00
Bukan banyak tetapi yang penting ini adalah kali pertama bayar dividen dan di harap seperti di sebut chairman akan naik pada masa depan.

Enjoy lah bro apa yang dapat.

No worries next week will shoot for the stars.

Whoisthis I hope your prediction comes true. Hope to see 80 sen on friday.