Wow spillover from iPhone?

Haha frank

Haha frontkeinstein

Hihi

Any news? Alhamdullilah

hehe rezeki

Breakout ka? Tak perasan

Thanks Maelxpdc!

Any chart expert here can update us?

TQ Ayam Tua! Alhamdullilah

Agree tkp1

Interesting. Must know when to take profit

Alhamdullilah. Betul betul ada tiger show! hahaha

Haha.script sama.. InsyaAllah.. Thank you bro Sifu's! AWC dah simpan :)

Rezeki bro Strategist. Alhamdullilah. Marubozu..

Tq Ayam Tua for this counter and frontken.. Alhamdullilah. Sabar walaupun lama tetap bawa hasil. Yang bersyukur akan dapat nikmat

Roger. Tq

Betul ke bro Ozzie? Anyways Uncle Looiks... Do u have any tips and recommendation for us the long term loyal pax? Terima kasih!

Any latest TP from chart expert?

Ameen

Thanks FAM Jenny for the update. Cheers

Lets stay focus and not deviate. Any chart expert can comment on this counter based on today scenario? Tq

15%? Ada ke? How come i tak pernah dapat

Alhamdullilah. Happy. Thanks bro Ozzie and strategist for recomendng this counter long ago.

Shale dying? Wow

Awc .. Roger bro Strategist. Thank you!

Invest Malaysia conference and rmk11 launch coming soon. Bursa will fly

I Keep in freezer and go out other counters to do shopping firsT

Cool

Healthy correction?

Dato Nazri Khan VP Affin bank just recommended Inari, inari wa and wb in his latest analysis. Keep for 1 month.

Flying

Good stuff!!

Looking strong

Or just take profit for now

Can still fly ?

Ye ke fortunebullz? I hold this stock since last year. Looking good now.

Sumatec to expand production despite low oil prices
By Gho Chee Yuan / The Edge Financial Daily | April 9, 2015 : 9:53 AM MYT
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KUALA LUMPUR: Sumatec Resources Bhd ( Financial Dashboard) has no plans to diversify its businesses. The company will continue to focus on exploration and production despite the sharp fall in crude oil prices, said chief executive officer Chris Dalton.

He said Sumatec (fundamental: 2.4; valuation: 0.9) will drill more oil wells to expand its production capacity.

Dalton was speaking to reporters after the company’s extraordinary general meeting (EGM) yesterday.

Presently, Sumatec is in a joint venture with CaspiOilGas (COG) and Markmore Energy (Labuan) for the exploration of Rakushechnoye oilfield in Kazakhstan, which has five wells. In addition, the new asset Buzachi Neft, which Sumatec is acquiring from Borneo Energy Oil Ltd, has seven oil wells in total.

Dalton said the company is planning to increase its oil wells to 26, from 12, by year-end.

To achieve its objective, Sumatec has set aside some US$20 million (about RM72.8 million) for capital expenditure (capex) this year for oilfield development.

The total capex is expected to increase from US$30 million to US$40 million in the next year.

“We are planning to increase our production capacity, especially the new asset we are acquiring,” Dalton said. This is to offset the drop in revenue from the Rakushechnoye oil and gas field, probably by 2017.

He said that according to the agreement signed in 2013, Sumatec will have to share its income generated from the oilfield with COG and Markmore should the accumulated production exceed two million barrels.

“We projected that the oil production from Rakushechnoye oilfield may touch two million barrels by 2017. Hence, we need to expand capacity to address the problem,” Dalton said.

At the EGM, Sumatec’s shareholders approved all resolutions tabled, including the acquisition of Borneo Energy Oil Ltd for US$290 million, and the proposed rights issue.

The deal is expected to be sealed by the second quarter of this year, and start contributing to the company’s earnings by next year

Haha chicken reporting.... funnylah AT..

Very good. Any reason? Good qtr?

Sumatec to miss RM1b revenue target
Posted on 9 April 2015 - 05:36am
Lee Weng Khuen
sunbiz@thesundaily.com

KUALA LUMPUR: Oil and gas firm Sumatec Resources Bhd's will miss its initial revenue target of RM1 billion by 2015 by a mile, with it only likely to be in sight in the next two to three years given the current low oil price scenario.

"We were in (bad shape) the past three years, but it's possible to achieve the target in the next two to three years with increase in production," its CEO Chris Dalton told a press conference after the company's three-hour long EGM here yesterday.

Sumatec, in which local tycoon Tan Sri Halim Saad owns a 24.49% stake, had set the RM1 billion in revenue target some two or three years ago when the price of crude oil was averaging at US$100 a barrel.

For the financial year ended Dec 31, 2014, Sumatec's revenue was at RM81.87 million. Its net profit meanwhile dropped 27.26% from RM73.63 million to RM53.55 million.

Dalton expects the financial performance to improve for FY16 following the full profits recognition of the new acquisition.

Yesterday, Sumatec obtained shareholders' nod for the acquisition of 100% in Borneo Energy Oil & Gas Ltd for US$290 million (RM1.02 billion), which will be satisfied through RM210 million cash payment and the issuance of new Sumatec shares.

Borneo Energy owns two Buzachi Neft oil and gas assets in Kazakhstan. The deal is expected to be completed by early June.

At yesterday's EGM, Sumatec shareholders also approved the proposed rights issue to raise up to RM1.1 billion to partly fund the deal.

Sumatec was uplifted from the Practice Note 17 (PN17) status in September last year after it completed its regularisation exercise.

Dalton noted that the new asset will offset the loss in profit it expects for its Rakushechnoye oil field in Kazakhstan, once a 50:50 profit sharing with its joint venture partners kick in.

According their agreement the the partners this will happen when accumulated production hits 2 million barrels, by 2017. Sumatec acquired the oilfield in November 2013.

"It's critical for Sumatec make its first own acquisition to supplement revenue going forward," he said.

Sumatec CFO Roshidah Abdullah said the accumulated production level for Rakushechnoye has been kept minimal for the time being, considering the current oil price level.

"If we switch on all the five wells, it could produce up to 400 barrels per day, but now we deliberately shut down due to the market condition," she noted.

Roshidah however said that the group will operate at least 25 producing wells by year-end, with five and 20 wells for Rakushechnoye and Buzachi Neft respectively.

Based on the current oil prices of US$50 to US$55 per barrel, Dalton said the Sumatec could still make a gain of US$10 to US$15 per barrel from the new acquisition after deducting the capital and operating expenditure costs as well as petroleum taxes.

"The taxes in Kazakhstan are scalable, when the oil prices drop, the petroleum taxes also drop, it's still profitable below US$40 per barrel," he stressed.

Sumatec has aside a higher capital expenditure (capex) of US$20 million for 2015 due to the new acquisition and the capex is expected to increase to US$30 million to US$40 million in 2016.

Roshidah said the proceeds from the rights issue are sufficient for the business development over the next two years, while subsequent investment will be internally generated.

"Hopefully when the market recovers, we can go into the debt market to see how to further our investment," she added.

Dalton said Sumatec is committed to its investments in the upstream operations, with no intention to diversify into the downstream segment despite low oil prices.

"We will remain in the upstream business, we're not going to diversify into downstream or any other," he added

- See more at: http://m.thesundaily.my/node/303960#sthash.5381yhf9.dpuf

Hope can fly

Any latest TP?

Yes cfo sorry hihi

2 final questions from the reporter to sumatec Ceo and Coo. If interested just download the audio from the link below. Nothing much but up to you all to judge and decide. Sorry low quality audio.

https://www.wetransfer.com/downloads/7f2224124488ba9529773b8c8665690020150408090924/a488c3

*cost per barrel. AGM will be in June.

One uncle ask why company don't want to take loan and only depend on shareholders to raise funds .. ceo answered they want zero gearing ratio and assume that the banks not willing to give out loans to o&g companies. Ceo also shared personally with few of us the comparison of this acquisition compare with CLIQ. Cost per parcel for sumatec usd 20 and doesn't include petroleum tax. Roshidah add technically if oil price goes down to usd40 company still okay.

Yes some uncles and aunty already screw them. Chris promises to improve next time especially on parking ticket etc

HS takde. Tan Sri Abu Talib and the gang. DS Najib bro ada.

Yes sapu malaysia. They updated on everything. Check out the news tomorrow. All resolution lulus. Not happy because no food for the shareholders.. hihi.. what to do. Nasib baik mid valley sebelah.