Musashi57............
A staunch follower of RandomTrading going astray.....

@Windcloud1
Do not be clouded.
The Bos will only get his 32 coaches once the RI settled.
Prior to RI, let's follow the rule.
If the Bos buy, he needs to announce to the Bursa.
----------------------------------------------
Windcloud1 Capt you mean Bos already got all his 32 coaches?
29/09/2014 15:30

@Musashi57
Please note that the analysis and interpretation on the reserves is not accurate.

@CassYeE
Please note also of the terms ex-date, entitlement date, OR trading period.
If you buy additional on Monday, and no more money to buy RI.....
Actually you can still buy the RI by selling some of the mother share after the entitlement date ie during the OR trading period.
Normally (but not a guaranteed), during OR trading period, the mother share price is still higher than the RI price.
Another scenario, if you want to buy RI without buying the mother share, you can just buy the OR.
However, normally (not a guaranteed also) the total cost of RI + OR will be higher than the mother share during that period.
---------------------------------------------------
CassYeE @strategisst

I already reviewed you comments, now i have 1500@ 0.550, mean when RI come, i can buy 75,000 share @ 0.40 + 75,000 free wc?? Is that mean? So after RI my price also average down right ?

If Monday i can get buy at 0.420 , think no money for RI already... keke.....
20/09/2014 00:31

@woman_x
You must have a big heart for giving such comment.
But the damage done by @bigfat & his species has caused other Sumatec investors stuck at higher price and some already cut loss.

Well done to @Victor Valdez on his victory over bigfat (shortist exposed) and saving his middle finger!!!

-----------------------------------------------------------
woman_x bigfat take care
19/09/2014 17:04

@komnas
Refer to multiple proposals doc: Section 2.2.3 (c) pg 13:
There will be additional WA & WB issued to existing warrant holders and adjusted exercise price.
The quantum will be determined later as the formula involve mother price on the ex-date.

--------------------------------------------------
komnas I will keep for now cause wont be needing extra cash for the next 6 months. Will topup mother as i see big potential in future. Cheers guys!
16/09/2014 22:15

@surewinone
"Buzachi's estimated oilfields reserves (source: Bursa Malaysia)

Total proved and producing reserves is 4.33 million barrels of oil (MMbbl). Proved but undeveloped reserves is 10.92 MMbbl, probable reserves is 53.62MMbbl and possible reserves is 28.85 MMbbl. So total is 97.72 MMbbl. A lot right? But PROBABLE & POSSIBLE (I really like those words) reserves is 64.47 MMbbl or 66% of the total reserves. WOW!!! How probable & possible these reserves is? I don't know, I hope they know. As for the proved but undeveloped, can they provide an estimated figure as to how much it needs to spend to get it developed and start to produce? "
------------------------------------------
Interesting & familiar excerpts...
Are you Random Trading?
The above is from RT article...... plagiarism in progress...

@DH
Select the pdf file in the link below:
www.bursamalaysia.com/market/listed-companies/company-announcements/1725733

@DH
Refer to multiple proposal document; Section 6.2, pg 25, column(III): Under Minimum Scenario; after buying back from Abu Talib.
This arrangement will increase TSHS shareholding to 31.5% without buying from open market.
And Tekad Mulia/CYP reduced to less 5%.
TSHS will be the substantial & single largest shareholder.

@focuz
No need to feel ashamed or sad.
It is not an apple to apple comparison.
From the presentation, the Oman block is still Prospective Resources whereas Buzachi field is 2P.
As layman, we may refer to guide at below link.

http://www.spe.org/industry/docs/PRMS_guide_non_tech.pdf

Not to undermine Rex/Hibiscus, it is good discovery for EXPLORATION co to justify further development.
However it is not plug & play, another big capital investment and years to construct offshore platform and realise first oil production.
Even in Malaysia, Petronas is doing PSC with Shell, Exxon etc.

For general and suitable comparison, refer to Hibiscus acquisition of 25% Kitan field from Talisman:
Hibiscus paid USD18M for effective 4.25 Mbbl(25%)(of 2P + 2C).
Equivalent to USD 4.24/bbl.
Sumatec pay BE, USD250M for 68.86 Mbbl(2P).
Equivalent to USD 3.63/bbl....... CHEAPER!!!!

----------------------------------------

focuz I have to agree with these Suma haters, but still hang around here to steal a few bucks...

All Suma haters make a dash, black gold rush in Hibiscus...NOW!
Buy Hibiscus Nowwwwwww!!!!

-------------------------------------------------------------
Posted by OptimusX > Sep 14, 2014 12:54 PM | Report Abuse

If they dont tell u good hamsap sexy stories. U think u hamsap fishes will swing into their net? Blame your own greed n foolishness. Dont blame others
============================================================

Posted by happytradingz > Sep 14, 2014 01:21 PM | Report Abuse

I am no sure why people agree so simply - I am looking at who can tell me what is the real fair value of SUMATEC - I also checked other companies to compare. Yesterday Star paper show SUMATEC market capitalisation higher that Alam Maritime. Is this possible with current business. If yes, can you or the owners show is how?

I also read others making comparison about SUMATEC and Hibiscus - I read this - can anyone based on the reserves and market capitalisation of Hibiscus share and SUMATEC oil reserve versus Hibiscus reserve, tell me whether the price can reach RM1 or above?

""
Quote......Marksmenship Just very interesting for you guys who have been holding;

See REX announcement below:

http://rex.listedcompany.com/newsroom/20140912_073351_5WH_0QLHE4AX2WVZKQC1.1.pdf
15/09/2014 10:24

@ozzie75
What's COB, if you don't mind clarifying? Thanks.
11/09/2014 11:51
-------------------------
COB.... close of business...... after market close..

@fatdatlo .
No news is indeed good news.
11/09/2014 09:55
----------------------------------------
I guess may be got news after COB.
Today is day 3 after SPA signing.
As per T&C of SPA, the vendor shall provide guarantee document within 3 days showing prove that Borneo & Buzachi Neft are the legal entities of the field having valid necessary licenses for operation and free from any encumbrances.
These are among the risk factors that need to be addressed prior Sumatec paying USD30M (proceeds from PP) refundable earnest deposit on day 7.
The guarantees may incite FM to start to invest in Sumatec (hopefully).

No more money to top up...
The capital already allocated for RI subscription...

Jan - April deja vu... up a bit, down a bit, sideway.....
Hope the same pattern won't be long....

@Looiks
"Gas powered engine testing successful"
Your info full of riddles....
Can I assume you are talking about four gas test wells?
If so, when will be the announcement?

EPF buying.... hmmm
Prefer other FM buying Sumatec....
EPF will only make Sumatec more volatile...
buy buy buy sell sell sell buy sell buy sell...
Thats what EPF done to other counters..

@AhMoi
Please enlighten us on BAB total debt...
One of the criteria to be a syariah compliant is the amount of islamic debt must be higher than conventional debt.

@Random Trading
1. The first 2M bbl 100%, and the rest 50% profit sharing is for Rakushenoye field as Sumatec is the contractor for that field.
2. For Buzachi field, Sumatec will be the owner, therefore 100% profit.
3. Another perspective of calculating the profit, as mentioned by Sumatec management;
- Rakushenoye field, the profit is USD35/bbl @ USD100/bbl oil price. (onshore field)
- Buzachi field, profit is USD30/bbl @ USD100/bbl oil price. (shallow water, 1-2 water depth)
4. Exxon, Conoco, Shell et al are operating OFFSHORE, therefore less profit margin.

Interesting fact about ESOS!!!:
Allocated new ESOS: 145M @ RM0.244, expiry date: 16/4/2017.
Refer Annual Report 2013 pg 49&50 and circular to shareholder dated 11/3/2014 pg 12.
The old ESOS @RM0.35, 4.44M exercised.
Both report shown contradictory numbers of old ESOS granted.
As of 18/2/2014, the new ESOS exercised 5M (excluding CFO 20M-sold, CD 15M-hold).

@tjhldg.....
fyi
http://www.bursamalaysia.com/misc/system/assets/10889/securities_equities_bm_cir_rr6_140814.pdf

http://www.bursamalaysia.com/misc/system/equity_market_statistics/securities_equities_rss.pdf
@tjhldg @Random Trading
Yes, PN17 co can be traded short selling.
The latest listing by Bursa included Sumatec in RSS list beginning March '14 (if I'm not mistaken).
However, as per the link above, prior to Black Wednesday up until 29/8, no record of Sumatec being traded RSS.
The list is updated daily after market hour and has a history of 10 market days.
So I believe PDT was not the cause for Sumatec Black Wednesday.

@strategisst @Rashid BB @MercuryRX ....
Thanks for the response....

@strategisst ........ thanks for the indepth info on RI.
Sorry for the late response.... so many postings to read after 1 day rest...
Also thanks to DC & Simu Noraini for the brief insight on RI.
More or less I now have the grasp on RI exercise.
Actually I am more interested in the price movement/pattern of RI pre/during/post exercise.
Appreciate your experience on the price behavior during typical RI exercise.
As mention in my earlier post, my case study now is Sanichi. Tomorrow starts the OR trading period.
I am tracking the mother share... someone say the price will up cause MARA is buying more. Unless the normal trend for mother share is always up during OR trading period, it is illogical for MARA to buy now, as MARA will not be entitled for RI. MARA did buy the shares prior to ex-date(27/8). And the price continue upward till lodge-date morning (29/8). Then afternoon only down.
I am trying to compare Sanichi with typical RI trending because I want to 'strategisst' my action for the impending Sumatec RI, explore available options to maximise RI subscription. Last time during the 1st RI (well.. 2nd in Sumatec history), I sold the old Suma shares when the price keep dropping. From the proceeds, buy back additional new Suma shares after listing date (lower price).
The last RI, EAH, I tried to buy additional through OR trading period, but when calculated became more expensive compare to directly buy mother share. So I end up applied for excess shares.... of 100K shares applied, succeded only measly 2300 units and the excess fund was refunded after 2 weeks.....

Fam Jenny YSH,sell son before it is too late,the best move and count the dead grass.
------------------------------------------
@Fam Jenny.....
After the RI, warrant exercise price will be adjusted lower and receive additional warrant proportionately.
Last time, WA was adjusted from 34cts to 32cts and holder receive additional WA.
But, is it worthy to stick to warrant or switch to mother share?
I'm not sure...

@Random Trading.... some points for your info and to fill up your "jigsaw puzzle".
1. CSAM founder is Datuk Shireen Ann. She is the only Malaysian in the list of 2014 Forbes Asia Most Influential Businesswoman. CSAM mostly invest in equities, IPO and pre-IPO. She was proposed to be appointed as director for Sumatec (refer to Sumatec corporate brochure). In the same brochure also proposed Datuk Johari Razak for director (accepted the position some 2 month ago).
2. Tekad Mulia, Chan Yok Peng & Wan Kamaruddin - they are from Sumatec old management, and the deal is for them to reduce their share holding in Sumatec. That's why their names in the Bursa announcement on director disposal. The proceeds..... please check CNASIA.
3. By convention, an oilfield/reservoir is valued by its 2P, Proved + Probable reserves. In layman term, use car as an analogy, standard performance stated in catalogue as PROVED, ie once you drilled, then you got the oil. The car engine is added with turbo system, that is PROBABLE, ie to enhance the oil production rate (by well intervention, workover, infill drilling etc. like what Sumatec is doing now to increase to 2000bpd by year end). Engine overhaul as POSSIBLE. Worth to note another term C, CONTINGENT. With the advance of drilling technology, the C can be upgraded to P.
4. The risk of Sumatec business - apart from world oil price fluctuation, is the drilling enhancement activity (workover programme). The real/true characteristic of the well can only be progressively studied/known during drilling/production. This is evidence as shown in the Q2 report where Sumatec is facing a hiccup in workover program. The advantage of this is it serves as learning curve for Sumatec as stated in the report, the action taken to mitigate the hic-cup. This experience is useful in dealing with well and/or Buzachi field.
5. The Gas Development & Production Agreement, GDPA was not bundled together in regularisation plan. It was an additional agreement for gas development and production, 2014 to 2016 with a fee of USD 45M (3 years ie USD 15M per year). That is a guaranteed profit quaterly (eventhough there is a hiccup in oil production). An arrangement crafted to ensure 2 consecutive quarterly profit for PN17 upliftment.
6. News on TSHS and Kenmakmur plus another one (forget the name) signed MOU in Kazakhstan during PM Najib visit, to build methane plant (TSHS), LPG plant (Kenmakmur) and another guy (orchard farming???). Kenmakmur (owned by CYP & WK) sign a Framework Agreement with CNASIA in June 2014, to design, build and operate the LPG plant. The plant will be the off-taker for Sumatec/CaspiOil gas from Rakushenoye field. Reckon that CNASIA will do the cash call (bonus, enlarge capital, Right Issues, Warrant & RCPS) as the estimated cost would be USD 200M. In return, CNASIA will get profit guarantee of USD 55M/year for 5 years after full operation, estimated end 2017.
7. Since Kenmakmur is buying 100 MMSCF of 120 MMSCF from Rakushenoye field, which means only left 20 MMSCF for TSHS methane plant. Therefore, the raw material (gas) for methane plant should be from Buzachi field.
_______________________
Ok, now for the wishful thinking (this is a disclaimer).
Some rumours going around that linking Petronas with Sumatec.
Actually Petronas want to have foothold in Kazakhstan, but cannot since TSHS is already here. TSHS & the gang is a big "taiko" in Kazakhstan (do you know that due to TSHS, Malaysian do not require a visa to visit kazakhstan). The only way is for Petronas to invest through TSHS. So Petronas need to take up some stakes in these LPG & methane plant and in return TSHS will get some portion of investment in Turkmenistan.
So there you go.... the sinister plan of TSHS revealed.... (another disclaimer)
--------------------------------------

@strategisst....... Q on RI....
Please elaborate what does ex-date & lodgement date mean?
I am now a little bit confused & puzzled.
I have been tracking sanichi as case study in preparation for upcoming sumatec RI.
The ex-date is 27/8 and lodgement date is 29/8, but today 28/8 sanichi up with big volume.
Apart from MARA news of buying sanichi, is this the normal behavior of ex-date share?
Next week Right Share started trading....
What will happen to mother share price?
When will the mother share price be adjusted to reflect the inclusion of Right Share?
Appreciate your comment.

Sorry for asking you at this time (read your posting earlier regarding RI), when other people are brouhaha about Q2 and PN17 upliftment.
For me as "business man" and LT investor, not to worry much, I believe Q2 is profitable & eventually PN17 uplift.
So i am thinking of future... the "planned" RI & Buzachi field.

Marksmenship Also - I read their corporate presentation - what is alarming is their statement on PAGE 4:


10. Attractive profit share for Sumatec (on oil only)

The low capital and operating costs as well as attractive fiscal regimes allow Sumatec to enjoy profit share (before tax) of up to USD21/bbl if oil price remains at current levels of USD120/bbl.

The current oil price is USD100/ bbl....Can someone write and confirm latest situation. If you add taxes etc, you are in dire strait now!


Presentation link below...

http://sumatec.irplc.com/investor-relations/doc/Sumatec-Brochure_Final-14thJune2013.pdf
-----------------------

My comment as layman with no accounting & financial background:
"fiscal regimes" - this already covers Kazakh's tax such as all the taxes related to oil extraction, royalty etc.
"(before tax)" - normal term where you can find in FR... PBT then followed by PAT.
"profit share" - based on agreement, 50-50 profit sharing, therefore at USD120/bbl, the profit is USD42 and for 50% sharing becomes USD21.

Please refer to sumatec announcement on update/increase in reserve:
At USD100/bbl, the profit will be USD35 (not yet 50%).

Please also refer to Buzachi announcement:
At USD100/bbl, the profit will be USD30 (100% to sumatec).

Why the difference... 35 vs 30?
Rakushenoye is totally onshore field.
Buzachi field is inclusive of near shore with water depth of 1-2m.
Therefore lesser profit but totally 100% to sumatec.

hahaha eric.... long time never heard your rm30 insider...

azli... you're right. because by end Aug only submit application for upliftment....

hahaha.... read briefly(sorry i am not into novel) through links you provided in chrissyconn forum... suggest once completed, make JV with KRU brothers... produce CGI movie...
btw, i am a kind hearted person... apa ada pada nama...

welcome back DH !!!!!!

PP..... keyword independent investor(S).... believe those having account with IB and holding big volume of shares have been approached by their remisier offered to subscribe suma shares at 0.38 with minimum buy of 1000 big lot...

PP......

http://sumatec.irplc.com/investor-relations/doc/Sumatec-Brochure_Final-14thJune2013.pdf
Refer to this corporate brochure in Sumatec website, it is here since day 1 of regularization exercise.
Only one more not yet officially announce, Datuk Shireen Ann Zaharah Muhiudeen; founder of Corston-Smith. Corston-Smith holding 60M Sumatec shares (1.93%)

http://www.theedgemalaysia.com/business-news/296661-bnp-paribas-to-plead-guilty-to-dodging-us-sanctions-report.html
Q: Will this affect Sona financing???
Appreciate explaination from banking expert...

hi henry wong: for a start, look for Technical Code Breaker @ TCB thread, follow matrixcool, stockraider, intelligent investor, calvintaneng (to name a few) comments & analysis... value investing.

thanks a lot... really helpful to non-accounting background people..

http://www.salamander-energy.com/regulatory_news_article/2961
it was mentioned in salamander HOA announcement... "the transaction has an effective date of 1 january 2014..."

http://www.thestar.com.my/Business/Business-News/2014/06/14/Challenges-in-SPAC-land/
guys interesting article.... the recent sell-off of sona due to a major bank issued a note to private client to take profit...

OngLiao99/fauzan & others... pls refer salamander annual report 2013, pg 88 Notes 1 to Financial Statement: though salamander as a group reported loss, the thailand operation is actually making profit. Sona is buying this profitable Bualuang field. So this is a good decision by the management, a guaranteed profit/production asset.
As for the current price, how low it will go depends on current panic sentiment. Once stabilise, its time to accumulate, as long term it is good. 40% share of profit from this deal can be used to pay the RM450M bank borrowing.

congrate DH..... included in the list...

livinia; trade like DH, switch to WB, you will get more shares...

Wai Hong Chan; Syariah is not a company or person. Non-syariah compliance means the company business/counter is not recognised as halal or according to islamic rule. Now, padini nature of business (garment/apparel) is halal, but maybe the loan taken from bank for doing business or expansion is through coventional loan and not through islamic loan, then it falls under non-syariah compliance. This loan maybe the reason that i can think of, any other reason you can contact SC for answer. The effect of price drop is understandably due to individual and islamic funds dumping their shares.
For further understanding on why from syariah to non-syariah and the list is updated every 6 month, look at the famous current eg cadbury. Eventhough chocolate is halal, somehow during preparation/transportation it was contaminated and traces of porcine (pig) found in this certain batch of cadbury which rendered it to become haram for muslim consumption. If cadbury start cleaning up and ensure from production to marketing is free from contamination, then cadbury will get back the halal status.

It is surprising sumatec release early QR report... which historically always end May.... will this to coincide with good news???? tomorrow with najib in kazakhtan?....

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1621489
DH & other sifu.... appreciate your advice on this RRPT anouncement. What does it mean?

hhakim.... thank for the detail... thats why i said "layman term"... for easy understanding...

dd128... fyi workover means to redrill the existing well. for laymen term while redrilling, the current production of that particular well is stop production. that's why it will take approximately 3 weeks to complete the workover for the well back to production with increase capacity..

CD ESOS price 0.244, a 10% discount of weighted average price 0.2711.... corresponds to price fluctuation? these recent days.... and it was stated in the egm circular, 10% discount. So sumatec mgmt is transparent and following the rules & regulation, not a hanky panky mgmt. Basically, the price suppression only left for PP???? and updates on workover & drilling progress.

KS is against Hudud implementation as it is against the current malaysian constitution. Yes, malaysia is multi racial and religion country. Hudud cannot be forced unto other religion, as hudud is one of the islamic law. That is why hudud only applicable to muslim. Why non muslim need to worry? In malaysia, non muslim are free to practice your own religion, it is your right. Where is my right as muslim to practice islamic law (hudud) which only applicable to muslim? Non muslim against hudud implementation in malaysia. Is it not now actually, non muslim is forcing unto muslim to not practicing Islam???....

share99
buy mother, midf research fair value 26 sen. hold for right issue for 1 to 1 at 10 sen. and free 1 warrant c for 2 right share. entitlement date to be determined later. warrant c excercise price 10 sen.
warrant A exercise price is 40 sen.
warrant B exercise price is 18 sen.