True, a sudden drop is mainly due to the big throw down by those big shark. It is like an illusion created so many days that a lot of volume chasing for the stock.

The drop all cos of proprietary day trader who is the short seller to take opportunity to make profit and short sell it and buyback at lower. As long as the company fundamental is sound and the oil extraction 2,000 barrel target achieve and reported a better profit at 2nd qtr.

Then it should be technical rebounding by tomorrow should no major negative news issue tonight.

So we wait for next Friday

Thanks DreamHunter for the explanation...

Hope the management really can prove what they said lor...

Sumatec oil well has been proven, probable and commercial viable just how much they can extract out and how fast as it has 10 years period... projected to hit 2,000 bbl by year end and exit PN17 by earliest September' 14.. NTA stand at RM0.79..

Sona and Hibiscus is SPAC (Special Purpose Acquisition Companies) which act to buy not proven and expose to exploration risk and Sapura Kencana, TH Heavy is going for Risk Service Contract and KNM and etc are oil and gas service like fabricator...

Most profitable oil and gas player is the operator like Petronas which Sumatec will be doing the same... owned a Kazakhstan 47 oil wells to operate until 2025 and will buying more on onshore and shallow water reserved.

Oil & Gas is a high risk high return games... the risk is most lie of the exploration where a company may spend more than RM130,000,000 just to explore and need to find for the oil reserve to confirm proven and probable and most important commercial viable....

Oil drilling for 1st well to 5th well should have started and contribute next month. Just this quarter are to report financial results from Jan to Mar 14. The have started charged service fees to COG

Is Sumatec will reported a profit on this 31 May 14, their date to report quarterly profit?

better wait till stable only go in all bro..

ya.. i bought at 0.245 and average down at 0.21... and sold all 500,000 shares on 0.23... quite risky... fortunately

Is Sumatec a good bet? What is the risk?

Successful regularize to become debt free company.

In current investor most wanted and booming industry (oil & gas).

NTA stood at RM0.79.

PN17 counter which will give more upside once it successful to report profit and apply to exit PN17.

THHeavy (formerly Ramunia) shot up from 30+ cents to almost a dollar. Ho Hup exit from PN17 shot up from low 0.77 to highest RM1.67.

Under the 4 segments of oil & gas:

Exploration (Hibiscus, Sona & Etc) - Exploration risk as need to find proven and probable reserved and commercial viable. More than RM130 millions spend is not recoverable if nothing is found.

Services (KNM & etc)- Highly depend on oil & gas industry outlook and demand

Risk Service Contract (Sapura Kencana & etc) - Going for bidding project from oil operator (PETRONAS, Shell & etc) and guarantee with recoverable expenses spend and profit sharing (but low sharing margin)

Operator -PETRONAS, Shell, Sumatec - Have their owned oil well which gives higher margin on oil and gas selling activities. Sumatec is focus on onshore and shallow water oil drilling which involve less operational costs. Subject to risk of fluctuate of oil prices and operational issues.

Will Sumatec reported profit end this May 14?