oil price surged
wti usd 57.93/ brent 64

oil price remain steady and positive wti usd56/ brent usd63

http://www.theedgemarkets.com/my/article/brent-crude-hits-2015-highs-us-production-slows

SINGAPORE (Apr 16): Brent crude oil hit 2015 highs above $63 per barrel on Thursday after a rally of more than 5 percent the previous session and analysts said more price rises were likely despite market oversupply.

Front-month Brent crude futures rose above $63 a barrel for the first time this year on Wednesday, although they had dipped back to $62.96 by 0413 GMT on Thursday. U.S. crude was at $56.23 after hitting a 2015 high of $56.69 on Wednesday.

"We turn extremely bullish on oil after yesterday's 5 percent rally in crude prices," Singapore-based energy brokerage Phillips Futures said.

"This whole rally was primarily due to drops in U.S. crude production. We see the 4-week average for crude production turning negative for the first time since July '14," it added.

Reuters technical analyst Wang Tao said in the Global Oil Forum that Brent could rise towards $70 a barrel in the near term, but that a sharp downturn could happen after that

best buy

best time to buy is now when price is low and hasn't move yet

once news on QA done and oil price up and up, then need to rush to buy at higher price

buy buy buy

oil price recovering up. wti usd56/brent usd63

best buy

all chickens, tok hadi also scared of his own shadow

how to goring

Oil price on uptrend. Wti usd56

Price above usd55 is positive up

dont think really matters with agm, directors always goreng some feel good stories for all, just as usual, like politics, play for the crowds of the day

what matters is whether they can get a quality qa at good price or else all are farked

http://www.theedgemarkets.com/my/article/oil-prices-rise-expected-dip-us-shale-output

The shale oil boom that pushed U.S. crude production to the highest level in four decades is grinding to a halt.

Output from the prolific tight-rock formations such as North Dakota’s Bakken shale will decline 57,000 barrels a day in May, the Energy Information Administration said Monday. It’s the first time the agency has forecast a drop in output since it began issuing a monthly drilling productivity report in 2013.

Deutsch Bank AG, Goldman Sachs Group Inc. and IHS Inc. have projected that U.S. oil production growth will end, at least temporarily, with futures near a six-year low. The plunge in prices has already forced half the country’s drilling rigs offline and wiped out thousands of jobs. The retreat in America’s oil boom is necessary to correct a supply glut and rebalance global oil markets, according to Goldman.




“We’re going off an inevitable cliff” because of the shrinking rig counts, Carl Larry, head of oil and gas for Frost & Sullivan LP, said by phone from Houston on Monday. “The question is how fast is the decline going to go. If it’s fast, if it’s steep, there could be a big jump in the market.”

oil price is expected to correct up. reasons - more future traders bet up and shale production going down next month
read this one below
http://www.bloomberg.com/news/articles/2015-04-13/shale-oil-boom-seen-ending-in-may-after-price-collapse

credit Suisse bought 1.3m

whether superstar spac or not, wait & see, they can find a good QA and at the same time bring profit to investors

it could be a group of idiots too, get us all farked up with big losses

you guys will be stucked in this counter for a few more years
don't think will recover any time soon

is ICAP still holding the shares? one time their top holding counter

http://nexttrade.blogspot.com/2015/04/parkson-early-termination-can-be-painful.html

1.75/1.25

this time sure tko below 2.0

don't think sona has any QA anytime soon, give it another few months, perhaps by jun/july
hope is not assets from Azerbaijan, Uzbekistan or anywhere in Rusia - or else no different from sumatec and cliq

well, the reality is spac counters are not the flavor of current cycle
hard truth

credit suisse add another 680K shares

Julian also bought sona shares, one wealthy director

one spacky expert too

“The US$70 (Urals crude oil) as stipulated in the announcement on Bursa Malaysia is just a reference as that was the benchmark during the time of the negotiations. If the independent valuer tells us that it is outside the current range, we have the option to renegotiate the price,” said Ahmad Ziyad.


First, overpriced, 2nd, can still nego - macam main main

http://www.theedgemarkets.com/my/article/potential-adjustment-price-cliq%E2%80%99s-qa

Amid concerns that special acquisition company Cliq Energy Bhd ( Financial Dashboard)’s purchase price for two assets in Kazakhstan is deemed high given that it was benchmarked against oil prices last December; it is worth noting that it could be adjusted downward by 5% or no less than US$218.5 million (RM803.95 million).

The 3% decline in its share price last Wednesday, a day after the special acquisition company announced its proposed qualifying acquisition (QA), reflects investors’ concern that the purchase price is deemed high as it is benchmarked against December 2014’s oil price — at about a 40% premium to the current market price.

julian chandiah, a director and shareholder of cliq also has shares in sona
i guess he doing the same investment as credit suisse, either way he can still make on the mother shares

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1915969

credit suisse acquired another 3.6m shares

if cash back for cliq is around 73cts, promotors and spacky owner will want the market price to be 75 and above bfore egm. the higher the better for support for the qa

just guessing and hoping, super investor will buy in. why not, if there is prize assets acquired. any investors would be interested

noby, I agree as the explanation is very clear

good question for all spacky counter as due diligence, legal cost, etc are very high for each oil assets

as spacky counter keep 90% in trust, balance 10% in current account for operations. Reach kept over 90% - around 94% in trust?

what if the 10% fund depleted before acquisition in 3 years? where they find the extra fund? will the expenses eat into the trust account later if no acquisition?

I am not sure whether you get it right or not

I read that cash back when there is no QA once the 3 yrs acquisition period expired or when you opt out during EGM if you choose to.

If we don't get the money back if no QA once the timeline expire, then where the money go?

credit Suisse is going big on spacky counters either way they will make. just how much

noby, u have good plan to arbitrage and earn the difference in interest. I guess the promoters and spac management will surely want to keep investor than to allow them to opt out due to funding needs

I guess the market price bfore egm is likely to be higher than cash out price - reasons are to get full support from shareholders. however if the asset acquired is below par, the price may go below the cash out price - then u have a good option

noby, what is the cash back figure for sona if qa is not done. event qa presented at egm, u can choose to opt out too. is it 48cts or 50cts?

last year annual report, credit Suisse has about 0.9%, now 5%

need big investor like mokz...then interesting

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1913401

yes, saw announcement credit Suisse emerge a new substantial shareholder with 5%
credit Suisse is spac specialist, also bought 7% in cliq

cliq's acquisition looks overpriced, forecast oil price usd70 for 2015 & increasing
if such optimicstic oil pricing is used in calculating IRR
then, not so good

fly fly high

cliq put sona to shame

cliq is now the leader of spacky counter

long term downtrend

zzzzzzzzzzzzzzzzzzzzzz ppprrrrrrrrrrrrr

DavidSiaw, any news from your uncle

PE 21 times is crazy, crazily high

later impact of lower earning next quarter onwards, brace for around 1.80 and then 1.50 folks in the near future

not surprise if go below 2.0, high PE and expected lower earning

prospect is bad
profit will go down at least 30 to 50%

always the case of reporting one asset after another

any of the 3 spacky that secured a good quality asset at good price will take the trophy ... plus investors, fund managers and Mokz.....possible

zzzzzzzzzzzzzzzzzz ppprrrrrrrrrrr

http://www.krisenergy.com/