Typically E&P companies trade at PER ~ 20 x....if that's the case shares would be at RM1.80

They forecast FYE2013....earning per share is 9cents. At a modest price earning ratio of 10x...the shares will be worth 90 ¢ liao...

@curiwangbagus US down because last time when QE want to taper they also up mah...but Asian stocks all down....so now Asain stocks up but they correction time lo...

mot always 1:1 correlate DJIA and KLSE

good thing is Hibiscus didnt deny anything...so there's something to the news. unlike Sumatec rumour, fake busibness times news...so they deny nd share plunge

good thing is Hibiscus didnt deny anything...so there's something to the news. unlike Sumatec rumour, fake busibness times news...so they deny nd share plunge

Ppl say hibiscus and sersol can limit up on monday

Apasal morning buy?

Bass Strait Oil Company Ltd (BAS) announced Friday that it has entered into a Collaboration Agreement with HIREX Petroleum Sdn Bhd. (HIREX). HIREX has access to proprietary evaluation technology that it will use as a means of determining whether HIREX will participate in specific BAS exploration opportunities in the Gippsland Basin, Australia. The Collaboration Agreement outlines the agreed forward principles for BAS and HIREX to apply to opportunities.

VIC/P42 (BAS: 100 percent)

The evaluation technology will initially be applied to an assessment of the Vic/P42 permit. Subject to government approval of a work program variation request, HIREX and BAS will work together over the next 3 months to reassess the prospectivity of the permit by integrating the new technology with conventional geological and geophysical data. HIREX may then commit to acquiring a 51 percent participating interest in the permit and the joint venture may commit to drilling an exploration well in the 2014/2015 period.

Bass Strait Oil Company Ltd (BAS) announced Friday that it has entered into a Collaboration Agreement with HIREX Petroleum Sdn Bhd. (HIREX). HIREX has access to proprietary evaluation technology that it will use as a means of determining whether HIREX will participate in specific BAS exploration opportunities in the Gippsland Basin, Australia. The Collaboration Agreement outlines the agreed forward principles for BAS and HIREX to apply to opportunities.

VIC/P42 (BAS: 100 percent)

The evaluation technology will initially be applied to an assessment of the Vic/P42 permit. Subject to government approval of a work program variation request, HIREX and BAS will work together over the next 3 months to reassess the prospectivity of the permit by integrating the new technology with conventional geological and geophysical data. HIREX may then commit to acquiring a 51 percent participating interest in the permit and the joint venture may commit to drilling an exploration well in the 2014/2015 period.

Old news...

Even if mother share fall, WA still on-the-money.....but most likely people already smell the oil coming..so start buying now

sit back and diam diam curi

WA is undervalue compare to mother price now. If mother is 2.00 WA at least 1.50...but limit up liao??!!...next week ler

from the edge singapore...

Rex International receives 10% stakes each in of two new exploratory licences in Norway
Written by The Edge
Wednesday, 18 September 2013 08:36
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Rex International Holding said its 65% indirectly owned subsidiary Lime Petroleum Norway AS, will receive 10% stakes in each of two new exploratory licences in Norway from North Energy ASA.

This is a result of the co-operation agreement between Lime and North Energy. Rex said no consideration is needed to be paid for the transfer of the 10% stakes, which is pending regulatory approval.

These two licences had been awarded to North Energy in the 22nd licensing round by the Norwegian Oil and Energy Department in June 2013. Both licences, PL 707 and PL 708, are situated in the Barents Sea, in proximity to the coast on the Finnmark East platform.

Måns Lidgren, CEO of Rex, said, “North Energy received the second largest award of licences in this licensing round in Norway, and we are privileged to be able to tap on our strong working relationship with them to participate in two of the most exciting and valuable licences in the area. At listing, we had shared our intention to grow our portfolio from 10 licences to 20 within the next 12 months. Over the last two months since our listing, we have grown our initial portfolio from 10 to 13, including the investment of a 51.99 per cent stake in a company that will hold three licences in Trinidad & Tobago, and now to 15. We anticipate to announce more deal flows in the coming months.”

Rex’s portfolio of licences are in four proven prolific hydrocarbon regions, namely, Norway, the Middle East, Trinidad & Tobago and the USA.

Måns Lidgren added, “North Energy had recently shared in their second quarter results presentation, that they had analysed 59 prospects using Rex Virtual Drilling over the past two years. Out of the 41 wells which had been drilled since, 35 predictions by Rex Virtual Drilling were spot on. This 85% success rate (96% success in predicting dry wells in 24 out of 25 drillings and 69% success in predicting presence of commercial oil in 11 out of 16 drillings) is strong validation of our technology’s effectiveness.”

dang...should have bought some at 2.4 few days ago

stonenut sibuk counting his money :-)

thanks to Hibiscus...other counter which oversell also naik...TQTQ Dr pereira

when abang petronas gives the FPSO contract...limit up lo

or hidden news somewhere :-)

based on rumours

no see announcement or news anywhere

rights issue soon could boost investor to chase for the stocks...at a premium of 0.64-0.175!!

no more Fed taper bothering us until Dec :-)

ini hari naik cikit lagi loh

Need some big projects...then u can see data fly 0.3....0.4.....0.5++

Now all less than RM100mill projek

it needs a contract award so that baseline can jump +0.1-0.2 sen up to ~RM1

no takeover so wont be like FOCAL

now QE no taper --> best time to float the rights!!

even the bursa company announcement already include SUMATEC-OR...

More buyers today....rights announcement coming

Posted by derrickinvestor > Sep 19, 2013 11:25 AM | Report Abuse

so my guess today onwards, it will not come down again till bad news arrive from US


if after 3-4 days still maintain, then YES; coz now a lot of contra kakis attack also

Even after denial by sumatec...it didn't suffer massive sell down.....
Quite surprised by the robustness

Besok can naik lagi... resistance could be 2.45/2.46...
If trapped also got good dividend to pocket :-)

ini bukan durian....ini tunggu "black gold"....manyak harga loh ini

but is it helping...down hard in yesterday afternoon

wait lah...baru listing tak sampai 2 month mana boleh limit up

nanti QA mai...terus limit up balru tau :-)

tak lembap lah...no QA lagi mah

this is another way...but like this cannot enjoy the steep premium of discount for the rights

the white knight news from btimes not confirm yet mah...u know btimes spew a lot of speculative biz news sometimes....but so far sumatec no deny it....let's see besok how

one seller just now 100000 shares....sold at 0.6+ must be director....so i think this could be the last selling of the 'old directors'

correction...only Wan...i think Chan already throw the 1million alr...sorry

this Wan and Chan double act still got hundreds of thousands of shares to throw...

also the article in btimes...secure concession but how long E&P before produce something...hmmm...susah kaunter ni

but QE taper coming...maybe some influence...

buy! Buy! Buy!...

Still worry there will be dumping by those who not wanting the rights

Got taper....bank hardest hit...difficult reach 2.9

Wat is ur conclusion from ins taco...can share sir?

Based on some recent free warrants issue, it seems to always up on announcements of rights issue...but than 1-2 days Nina...then start to downhill until ex date