Anything can happen in the next 3 days. Personally, I think this is already a done deal. Indeed, Salamander is acquired at premium. But good things are not cheap, and cheap things are not good mantra is applicable in this case.

Time will tell. Looking at the price movement since the QA announcement, downside risk is limited vs upside potential. As for the earnings, since we are not privy to those confidential numbers, we end up with guessing game. Your guess is as good as mine and vice versa. No right or wrong. No point arguing who is right or wrong until the actual details are revealed very soon.

3 more days!

Sona, the last SPAC to be listed but it will be the first Malaysian SPAC to produce oil. Well ahead of Hibiscus and Cliq!!!That's why I believe their management is sound and excellent. Once the deal materialised, more funds/investors will be comfortable investing in Sona. Neighbouring exploration/development block will provide future growth (mind you they Salamander has discovered oil in Surin block already - so almost confirm got oil)

Then revenue/profit will automatically be recognised. Assuming 20% net profit from RM 480 million revenue = RM 96 million. EPS will be circa 8-10 sen per share. Assuming EPS = 8 sen and PE of 15, conservative value of Sona should be RM 1.20.

If commercialisation in the next block comes online, the figure above has only one way to go. Up...Up...and away!!

Just my 2 cents.

Mother absorb huge volume last of week's Thursday and Friday well. Sign of bottoming...

You're welcome saddiqsepakraga

After doing some research on Salamander's Bualuang field, I start to believe Sona's management has done very well in identifying the QA.I must say the QA is quite premium, but that is acceptable with its lower inherent risk and future growth prospect. Not only the will get immediate revenue from already producing field, but also the exploration well in Block G4/50 with promising prospect, with oil discovery at Surin field by Salamander late last year.

I personally believe Sona's price volatility maybe as a result of lack of info on the deal, but as more information are made public soon, the price will adjust itself.

Good luck Sona holders. I'm in.

That's right. It's RH Petrogas