@Bob,
The reason why 25% UK windfall tax was not much of our concern because Hibiscs UK oil production against the rest of the world ratio is only 180k boe to 2mil boe ONLY approximately 10% of total Hibiscs oil production capacity. Hibiscs have ways how to mitigate this.
These guys are pros. They built ship, ship wont sink. They run oilrigs oilrigs wont explode. Market exaggerate things for no reason.

Zhang, thank you for pointing this out to us. I appreciate this.pls keep up your good work.
As at 3QFY22, hibiscs has produced 2.5mil boe and the COMPANY have another 2milboe to go to meet their FY22 target of 4.6milboe. See page 9.
Copy and paste link below to download analyst briefing 3QFY22 26th May 2022

https://drive.google.com/file/d/1idF1fjS0ziMlAwZgoDZbr301Bijk2oE0/view?usp=drivesdk

VTrade, all public listed provided their yearly forecast. Analyst reports put this in writing. Find income statement. Look gor FY22f which means FY22 forecast. Hibiscs full year forecast is MYR1.6bil if I am not mistaken. Its only MYR800mil to go to meet target for FY22.
Its not about being ikan bilis. Its about our illitery in Finance and Accounting which lead others easily manipulate us.

We need to understand one thing. Public listed companies nees to share their wealth to the public. That is why they need to float some of their shares in the market in this case Hibiscs floats 2bil shares.
14days ago, hibiscs share price was about 1.50 with market capital of MYR3bil.
14days later, gibiscs share price dropped to 1.27. Market share shrinks about 25%. Which means ordinary ppl poorer by 25%. All happen in 14days!!!

From Simple Wallst
Below Fair Value: HIBISCS (MYR1.27) is trading below our estimate of fair value (MYR2.56)

Significantly Below Fair Value: HIBISCS is trading below fair value by more than 54%.

Rubbish!! Hibiscs improved and has increased oil production output to 3 fold and your TP is 1.31?!! See below from Refinitive.

Below Fair Value: HIBISCS (MYR1.27) is trading below our estimate of fair value (MYR2.56)

Significantly Below Fair Value: HIBISCS is trading below fair value by more than 54%.

1 Misinterpretation of 3QFY22 q-o-q
Hibiscs price crashed shortly after QR out was due to misinterpretation by retail/IB investors. There was nothing wrong with operation/production of Hibiscs and her newly assets. Hibiscs just being honest to declare they should have included 1 offtake in 3QFY22 but they didn't. Many other companies don't do this. Hibiscs didnt accrue / add provision for this missed offtake.
2 UK Windfall tax.
UK Chancellor decided to apply Windfall tax. Many Big Oil and Gas companies believe this will have negative effect on cost of living in UK. With additional windfall tax will discourage Oil and gas producers to invest drill for more oil or to increase production while this can help increase oil inventory and lower crude oil prices.
Addition to that, Shell, BP, Engie, TotalEnegie including Hibiscs have oilwells all around the world.

3 Final QR for 4QFY22
HLIB estimated that in 4QFY22 will see another MYR800mil++ in revenue where crude oil were at primed level from USD95 - USD130boe. On top of full 45,000bpd crude oil production, Hibiscs will include missed offtake in 3QFY22 in 4QFY22. Total revenue is estimated at MYR1.6bil in next quarter.

4 Brent crude oil / Natural gas futures
Summer holiday in around the corner. China already shows sign of recovery as no of Zero Covid19 in Shanghai and Beijing is increasing. Brent Crude oil futures jumped to USD119boe, highest since mid March this year.

Lets give Hibiscs some push, shall we?