Not only buying but also storing in millions.

China quietly storing cheap oil?

http://library.cqpress.com/cqalmanac/document.php?id=cqal63-1315426

Remember in 1962 rubber stock pile release.US was hoarding rubber n released cheaper then market price n crashed SEA.I remember then ppl stop tapping becoz no value for rubber n ppl became very poor.No money to go to school etc becoz must pay school fees.Start borrowing money from world bank...bla bla now using crude oil to crash d world.

Last Asian crisis 1997/98 US tried to crash Asia but M'sia sustained when M removed his deputy n pegged d ringgit n Palm oil price was around rm3000 to sustain d crisis.Now both crude n palm oil also down but d bank mergers is sustaining d present situation.Nevertheless I feel index may drop below 1700. US will come to rescue but after 1-2 mths.

dickyMe2....yes true master of US is CIA who master minded d crude FALL....IS stealing n selling cheap oil n also to weaken Russia n some country may go into recession.

Ya! exactly thats what i did....n waiting for 18 cannot get never mind.

Whatever anybody can say US is d cause for crude oil drop n this kind of depression going on since 1880's...all work of Jews mastermind.

I personally feel may drop to 18cts this week.

No! No! No! obviously d answer not now a lot of implications...wait for crude oil to rebound maybe 1-2 mths time...i am waiting in d sideline....fedup.

OPEC Meetings

Here you can find details of forthcoming OPEC events. Journalists and oil industry analysts are welcome to attend these events, provided that they register in advance.



Date
Event
Venue
5 June 2015
167th (Ordinary) OPEC Meeting
Vienna, Austria
.......@Ring next meeting on 5/6/15 that is too late...any comments!

http://www.nst.com.my/node/57897

http://www.bloomberg.com/news/2014-11-27/opec-policy-ensures-u-s-shale-crash-russian-oil-tycoon-says.html

Advantage Suma is not in debt n BE is a good asset so RI hv to take place maybe delayed.Anyway promoters hv left this forum but is Timely TSHS make some statement!!!!

“We’ll wait to see the trend next week when there’s full market volume, however it’s clear that as oil prices come down there will be pressure for the weaker of the companies in the sector, particularly exploration and the ones that are highly indebted,” said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.....@Ring...extract from TimesBiz...Saudi have cash reserve for one mth n Shale boom not over yet overall chaotic for O&G business but its a matter of time this situation cannot prolong..lets wait n see. I would hv sold if not for d talk of RI..I was swayed big mistake.This reflects to d story of "Tiger coming but never came"..honestly I feel shameful for not selling around 42cts.

Tks...d present scenario of low crude is of course confusing??? Saudi is flexing their muscles becoz they have plenty of cash reserves to bulldoze d low price but how long can they go like this!!!!'

The shares for the Borneo Energy shareholders are priced at 55 sen, and this was determined by the Sumatec board of directors.
......,@Ring I am not an expert how would you interpret d "55" based on d above news...tks.

http://www.thestar.com.my/Business/Business-News/2014/09/03/Halim-set-to-raise-stake-in-Sumatec-to-32/?style=biz

Why should BOD reject BE when it is already producing oil? The question what is d cost/barell?...any comments tks.

BE deal is an additional asset valued @ 55cts therefore no dilution of shares....any comments on this please!!!!

Most members of the oil grouping require an oil price above $80 dollars a barrel to balance their budgets, but Saudi Arabia and some of the gulf states can sustain a lower oil price for a while thanks to state financial holdings and other diversified investments.

Sumatec signed a framework agreement with Borneo Energy's owners Abu Talib Abdul Rahman and Murat Safin for the purchase. Borneo Energy owns Kazahk upstream oil and gas firm Buzachi Neft LLP, according to a local stock exchange filing.

Shares in Sumatec closed up 21 percent at 37.5 sen on Friday.......@Ring this is d old news I know but basing on d gist of this agree "frame work agreement" its a good asset can this agreement be cancelled if RI don't go through.

http://www.reuters.com/article/2014/07/11/malaysia-sumatec-resource-mergers-idUSL4N0PM2S620140711

http://www.breitbart.com/Big-Peace/2014/04/16/American-Oil-Reserves-Now-Top-Saudi-Arabia

OPEC meeting, Venezuela fought for rm100 to sustain economy but Saudi fought for oil to stabilise by market forces but repercusiion is chaotic ??????????

Ya! SKPETRO will be battered becoz non Syarih compliance.

Russia n other countries hv decided to weather d cheap-oil spell by devaluing their currencies will probably compensate d citizens losses to some degree, bt this won't cost much if most of d goods d poorest ppl buy r domestically made.That's how it works in Russia, where Putin Govt rely on d lower social class n public sector employees for political support-as it waits for low oil prices to BATTER US shale oil producers to get them to reduce output. Once that happens, d global world supply end n prices will creep higher. That's how d biggest producers in OPEC appear to see things,too."No one shd cut n d market will stabilise by itself". Saudi Arabia oil minister said on Tuesday as OPEC prepared to proepared to hold d meeting in Vienna' Why Saudi shd cut.? The US is a bug producer too now so they should cut.....extract from The Edge Financially Daily....@Ring I just read n this may throw some light on d present chaotic situation.In our country "Is d cost of living cheap..GST is coming"

The talk of exit PN17...later RI n d media reported of huge future profit kept us in this stock, I am also stuck, blame goes to US (price war). HS is not saying anything becoz waiting for Bursa approval n from there what happens???? All we know approval may go thru...n lets see what d BOD got to say!!!!!!

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1809109

http://www.thestar.com.my/Business/Business-News/2014/09/03/Halim-set-to-raise-stake-in-Sumatec-to-32/?style=biz

http://dinmerican.wordpress.com/2014/07/31/tan-sri-halim-saad-set-to-take-sumatec-up-the-corporate-ladder/

Many ppl got caught here but wise guys left earlier.To say we were not wise not fair either but it is not d case attracting d "dog with bone" or tiger coming bt d tiger never came.First out from PN17..next RI...next profit but d culprit is US for dumping shale oil for d turmoil.

BE is one of d good asset which cannot be missed.RI is awaiting for Bursa approval.Suma hv shown profit n no bank borrowings so I belief approval is on d way but right now mkt forces is deciding d price n sharks hv their own motive.In this situation what is RI price going to be is everybody's guess??????

May we know d good news...tks

OPEC Policy Ensures U.S. Shale Crash, Russian Tycoon Says

http://www.bloomberg.com/news/2014-11-27/opec-policy-ensures-u-s-shale-crash-russian-oil-tycoon-says.html

http://sumatec.irplc.com/announcement.htm?NewsID=201411273100412&Symbol=1201

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1807777

http://www.rigzone.com/news/oil_gas/a/133993/Malaysias_Sumatec_to_Buy_Borneo_Energy_for_250M

When HS announced d RI @ 40 of course he knows d 3rd Q result of 25.7m n also applied to Bursa taking all into this into consideration then why it dropped today to 0.265. Is this due to market forces or drop in crude oil.I belief HS will be making some news on d BE deal 2moro.

NTA 18cts.......

4 Profit/(loss) attributable to ordinary equity holders of the parent
14,476
-6,131
25,650
-15,302
..........,profit for Q is 14.47m.....but todate is 25.65m

Venezuela hits out at shale

Venezuela’s foreign minister, Rafael Ramirez, took a swipe at America’s burgeoning shale industry as he arrived at the Opec meeting, suggesting it should be reined in.

Ramirez said (via Reuters):

“The U.S. is producing in a very, very bad manner. The shale oil, I mean it is a disaster from the point of view of climate change...”.....@Ring the dirty culprit is US

http://www.theguardian.com/business/live/2014/nov/27/oil-hits-four-year-low-opec-greek-strike-german-unemployment-live#block-5476e4d4e4b012ac8415b50c

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1808069

Russia cuts oil output as OPEC ‘agrees’ price too low
Posted on November 27, 2014, Thursday

VIENNA: Russian oil giant Rosneft has trimmed its oil output amid a continued slide in crude prices, as an under-pressure OPEC mulls taking similar action.

Rosneft said Tuesday that it had cut its daily output by 25,000 barrels because of ‘market conditions’.

The token reduction represented less than one per cent of the behemoth’s total and did nothing to boost energy prices on depressed global commodity markets.

The announcement, given in a company statement, came after Rosneft chief executive Igor Sechin held talks with officials from Mexico and OPEC members Saudi Arabia and Venezuela in Vienna, the venue for Thursday’s key meeting of the Organisation of Petroleum Exporting Countries.

If not for d talk of RI n Borneo Energy many would have sold n left just unfortunate??

I feel sorry for my good friends there!

....sorry YB Tony Pua...

Umno delegates should have questioned why Felda shares r dropping when their counter part r doing well.Internet so much info, I don't understand, YB Tony Pus raised this matter in parliament n that he was not given d correct answers.....!!!!!!