Dear Powerwk, care to enlighten me? Thank you.

Could it because Sona has insufficient funds raised from its IPO to psy for the QA which cost some RM900M plus equivalent? Thus,Sona needs either bank borrowing or some other form of financing to make up the difference.

Could any one explain to me why Sona and its wa kept on dropping despite the recent QA news?

Hot counters like Sona and its WA have good fluctuation in its share price. If one can ride on its wave, one can always make money out of its even without the QA news.

I made a painful decision in cutting losses at 0.295 for 108 lots on last Friday. As I have said earlier，長痛不如痛. One must always remember, 留得青山在不怕沒柴燒. Based on the Chinese article posted by Marcus Beh, do you think that the market will be able to recuperate in a matter of days after the foreign funds retreated? Put some thought in it. Again, I wished to emphasize. Don't fall in love with any counter no matter how affectionate it may appear to be.

Hope that you are right but chances, I think, are extremely slim. Anyway, no harm in hoping. Probably, the chi from our bullish thought would push the price up.

I still have 30 lots of Sona Wa at 0.34 in hand. If bearish market continues on this counter, I may have to cut losses. 长痛不如短痛。Painful and expensive lesson not to get in love with any counter.

Those people who sold at 0.35 would be laughing all the way home. I think this a good and expensive lesson to all of us who suffered losses during this round of madness. No matter how good/solid the counter is and how much news/rumours there is on the QA in the market, if someone wanted the price to plunge, then it will definitely plunge like nobody's business. Those who have high hope on the counter and persist to hold on to it would have to suffer the loss at least for this round of bearish cycle.

To all small investors like myself,

Never ever fall in love with a counter no matter how gentle or affectionate a counter might have profited you. Set yourself a achievable profit target. If you have achieved it, be sure you reap the profit upfront and dump the counter. Getting too involved with your lover counter would cause you to be unable to make rational judgement.

One expensive lesson I learnt from this round of madness. No matter how gentle and affectionate a counter is to you with prospective news such as contracts from Saudi or in Pengerang, one must never fall in love with the counter. Whenever there is chance, make sure you reap the profit upfront and dump it.

Not necessary only contra players will be worried. Even non-contra players will also be worried. Afterall, it's human nature.

What happened to all these O&G related counters? All dropped like mad. I got 14.5 lots in hand which I bought them at 1.81 and 1.64. When is this nightmare going to be over?

I am really caught this time. In hand, I have altogether 62 lots which were bought at 36 and 37 cents. Serve me right being greedy. Ha Ha !

Bought at 0.575 for 26 lots. No choice. Got to cut reduced profit on UMWOG to get into a counter which I have confidence and faith that it would be able to rebouce swiftly.

When is this nightmare going to be over ? I don't wish to see this counter ang ang anymore for the next few days.

As long as SONA and son continue to move up, who cares which company is buying up SONA.

Almost one third of my portfolio goes to Sona-Wa. I hope there are some stimulating and prosperous excitement around the corner. Huat ar ! Huat ar ! Huat ar !

Any chances I don't see red in this counter tomorrow ? No excitement lately in terms of price movement.

Now that the Crude Oil price has gone up to more than USD100 per barrel and technical adjustment has taken place on UMWOG since 11/2/2014, I wonder when this counter is going to move back to its right path to reflect its true potential !

Perhaps, the longer Sona's management takes to make a decision in acquiring the right QA, the weaker the RM will become as observed from the performance of RM for the past one year. You know, QA will most probably be tagged in USD, if RM is to drop further, then Sona has to cough out more funds for the same QA. The longer it takes, the higher the cost of the QA.

Personally, I feel that at 0.325 is still a good buy but I have run out of capital.

UMWOG = PETGAS @ RM25 in time to come, perhaps in medium or long term. No surprise or miracle. Even Dlady dealing in dairy products could shoot up to RM45.90 and why not UMWOG @ RM25. If everyone thinks like that UMWOG could reach RM25, then it would definitely materialise so. Afterall, market forces as in its investors/speculators are the determinants of the share price.

My expectation of UMWOG at RM5.00 is perhaps in 2 to 3 months' time. No need to wait until end of 2014.

Regardless of what the TP is, if there is good news and people goreng it, then it will be a good counter for "invetors". Whether or not who is to revise the TP, it doesn't make any difference.

There is no doubt ample space for mother share to move up if the QA deal is on especially if it manages to acquire a 100% stake in a producing oil field. Based on historical data, Hibiscus managed to climb up to as high as 2.74 after it secured its QA via acqusition of 30% of Lime Petroleum. Shouldn't it be the same for Sona if the QA deal is closed. With such an exponential potential on the mother share, I believe Sona-wa would excel in its value in foreseeable future. Perhaps, after the long-awaited due diligent studies on the earmarked oil fields are completed. By the way, can anyone tell me how long would it take to complete a due diligent studies of that kind?

Dear players out there, when are you going to goreng on this counter or its mother ?

aboochansami - I know Barakah has very good potential and is good counter for keeping but other O & G counters are also very tempting. Not enough capital to hold a lot.

I presumed most of us in this forum are speculators. When we see the price is good and able to meet our profit expectation, we will sell it. In this online trading world, I don't think it is suitable to call ourselves investors unless we buy for the sick of holding the counter for long run regardless of the price fluctuation.

Notwithstanding I bought it too expensive, I have utmost confidence in this counter. It is a matter of time when it performs like Hibiscus-wa.

I was too hasty today. I jumped into buying 30 lots @ 0.34 at 9.40am. I should have bought it last friday when it was at 0.315. What a waste!

I missed my chance for getting sona wa at 0.325 because I insisted to queue at 0.32. What a waste ! When I wanted to buy 0.325 or even higher at 0.33, the sellers said bye-bye to me at a much higher price.

powerwk, I like your explanations. It's very informative and generous of you to share them with us. Thank you.

Anyone can tell me whether it is better to hold the mother or wa if I plan to stock up more?

The mother share should have made sufficient technical adjustment with a drop of 23 cents from 4.58. It's time for it to fly again. When the mother share flies, the CA will hopefully fly even higher.

I also bought some at 1.80 today. I have high hope that there is good news on Saudi project by end of this month. Then, someone will sure goreng betul-betul this counter.

After having better understanding in the mechanism of the LA, I sold off a portion of LAs at a minimal profit to buy the mother share. Hope that I didn't make the wrong decision. So far, it was observed that the mother share moved more vigorously than the LA.

Well! At least Sona-wa inched up by half a cent today. It would be good for non-contra players like me despite being a very small player due to very limited capital.

Whatever it is, I would still hope someone or everyone would goreng sona and its son betul betul tomorrow to breach 0.65 and 0.40 cents respectively notwithstanding how soon the QA would materialise.

Barakah-LA holders still have another 8 months more before the 1 year period expires for redemption to take place if it ever happens. 8 months to contemparory investors are deemed extremly long. At this juncture, players may just bank on the imminent news on the contract from Saudi Arabia.

Surprisingly, I am the 1st one in this tread. Ample opportunities in playing this CA as mother share is having very good upside potential.

There will come a day not very long, perhaps 2 to 3 years for UMWOG to reach more than RM25 if there is no unforeseen world financial untowards.

UMWOG is better to hold for investment purpose as compared to its CA but it would require a lot of capital to hold it. I believed UMWOG has a very good upside potential. In time, its price may match that of PETGAS.

Hey, everyone. Thank you for all your explanation. You have let learned something new on Barakah-LA which I have never thought before this. Since I am holding about 30 lots, I really need to rethink my strategies in holding the same.

This round is said to be the oil field located in the Philippines.

Can anyone please tell me how come The Star Online managed to get information pertaining to Sona Petroleum's quest for QA ? By the way, who is the "source" ?

When is the QA news coming out? Within this month? Is sona really going to buy the oilfield in Indonesia? Anyone can enlighten me?

I salah faham. Pls forget what I asked. Anyway, I am looking forward to see some good QA news soon in the internet.

Ruslimz, may I know where did u get the news from. I have been trying to search in the internet but don't seem to get any except for obsolete news.

babyblossom, don't worry. There will come a day very soon that you would become a millionaire.

I am going to hold Sona Wa until the QA is announced.