Very often the market does not behave according to the fundamentals of companies... better not go against market forces (go along with market forces is safer, better & more profitable).

Looks like from now onward very slim chance for averaging down cost price... only averaging up. Anyway, averaging up the cost price is definitely better than averaging down.... less risk & paper profit keep increasing.

Hahahaha!! Sometimes spinninglotus sounds like spinning stories.... but sometimes I appreciate his comments too.

Whoah!! EPF acquired 5,000,000 shares and ASB acquired 10,000,000 shares, Pegaga Contract won, share price in rebound mode.... what is there to wait for the QR? QR may show some loss but may not be as bad as what most people imagine. BTW, QR only show 2017 result... we r now in 2018 & things r looking good ahead.

Today good show: more than 6% up; healthy volume at 160 million; chart of past few days show a clear rebound.... managed to increase my shareholding, also sold a lot in the process (profit for one month's food money). Congrats to those who made profit today. Hope Sapura's situation keep improving in the coming days.

Rapidly going down after 4:15 p.m.

Today's super low volume tells a lot......

Looks like the 0.480 wall going to break soon.

In 2017 SAPNRG's revenue is derived from:

Malaysia - less than 33% of total revenue

Asia (China, India, Brunei, etc.) - more than 47% of total revenue

Other Countries (Africa, Australia, Brazil, etc.) - about 20% of total revenue.

http://www.4-traders.com/SAPURA-ENERGY-BHD-12615775/company/

There is no China fund buying SAPNRG.... only The People's Bank of China holding 69,307,500 shares, i.e. 1.16% of SAPNRG's total shares.

http://www.4-traders.com/SAPURA-ENERGY-BHD-12615775/company/

Aiyah.... at this low price it is alright to buy & sell lah. Even rogers123 also by & sell loh. Risk losing a few cents & hope to make a few cents every now & then.... it is fun also; just don't get stuck... always willing to cut loss & take profit quickly.

Sold a lot already this morning but bought back some at 0.495; now waiting at 0.470.

Waiting at 49 sen.

Technical still O.K. .... closing price is still higher than the 5 days EMA (moving average). Got chance to continue rebound on Monday.

Today not good as expected but also not bad lah.... it is O.K. to retrace a little bit from yesterday's 19.5% gain. Managed to buy & sell a few times today but no gain... just bring down my holding average.

Not yet 4 p.m. show leh.... whether up or down have to wait & see.

If can break the 53 - 53.5 sen barrier, then it will easily reach 55 sen.

@ayam_goreng84: Depends on what equity u r talking about: book equity (accounting) or market equity. If according to accounting, SAPNRG's book equity is RM12 billion (with RM15 billion debt... is at sustainable level for O&G industry). If u r talking about market equity, then it is less than RM3 billion. Normally we compare debt (liabilities) with assets at book value (accounting)... we don't mix it up with market equity, otherwise it will be unfair comparison.

It is very costly to operate US shale oil drilling.... if US oil company realize that they can buy over the entire company (SAPNRG) for less than RM3 billion (i.e. US$0.77 billion), what do u think will happen?

@Sinoboy: Black Rock already in.... but currently only holding about 133 million shares.

http://investors.morningstar.com/ownership/shareholders-major.html?t=SKPBF&region=usa&culture=en-US&ownerCountry=USA

@hlafdz: Since u only do 1 or 2 sen contra gain trading, what u can do is buy high sell higher, buy higher again & sell even higher..... keep repeating until u get contra loss of 2 sen then stop.

Foreign funds holding SAPNRG's shares:

http://investors.morningstar.com/ownership/shareholders-major.html?t=SKPBF&region=usa&culture=en-US&ownerCountry=USA

Morning up 10%; afternoon up another 10%..... today probably will up 20% like yesterday.

Once break the 0.505 barrier it will b smooth sailing....

Can easily go up another 20% today (like yesterday).

Those who hesitated yesterday..... don't miss the boat again today. Look at the huge volume (now 144 million already).... it tells everything u need to know about the direction of price.

Hahahaha!! Even hng33 also come back here!

Some sharks trying to press down the price & some other sharks trying to push up the price.

Looks like very fierce fighting among different sharks at opening.

70 sen is a reasonable TP for 3 reasons:

1. It is the past 60 days mean price.

2. It was once a strong support level.... now it will b a strong resistance level.

3. Technical indicators suggest this rebound is more likely to continue tomorrow than to crash back to 40 sen.

P/S - Whether this rebound continue tomorrow or not it is good for me... I have taken some profit today (but still keep a lot of shares) & I'm planning to top up.

Last night, people here were talking about delisting, the company going bankrupt or taken over & privatised when price hit 20 sen. Today, I see the engine of the aeroplane just started & there r people already leaving the plane b4 the party start. Tomorrow morning when the aeroplane is about to take off & someone may shout "bomb" & everyone will jump out of the plane. There r also people planning to get onboard of the plane only after it has flown higher (above 0.55 or 0.60).... i.e. like boarding the plane in mid-air. It is really interesting to read all these funny comments.

On second thought... even if price go a little higher than 50 sen, I think should top up a little too. But if price drop below 49 sen can top up even more.

Good show today! Congrats to those who bought low yesterday..... & probably sold some today! Tomorrow can either buy back some shares (if price drop) or sell some more at higher prices (if rebound continue).

Wow!! Up 18% in one day! Huatt!!

If small volume means price up or down is fake.... if huge volume means price up or down could possibly continue going up or down for awhile (but no guarantee lah).

Yesterday was too low to buy bcoz it could go below 40 sen; today is too high to buy bcoz it could b a trap.

Looks like sharks don't want it to go above 47 sen.....

Hope can reach 50 sen today.

The volume already more than 182 million & buyers still coming in! This must b a real rebound!!

Where is Betkaukau? He must have missed the bet while waiting for 20 sen.

Whoah!! At this rate of moving up, even EPF dumping 5 million shares also cannot stop the uptrend train!!!

Listing E&P will not happen anytime soon.... it will take at least 2 years from now.

In the end, China man will buy over the company just like Heng Yuan.

This is how I see the current situation:

EPF already stated very clearly that they want to exit all O&G counters bcoz this sector caused them to lose money. However, the sharks & short-sellers took advantage of EPF's exit to make money through reverse contra trading & short-selling. Hence, the price keep falling to this very low level.

@spinninglotus: If the government want to take over the company or replace Shahril, they already can do it anytime now bcos PNB, KWAP & EPF collectively holds 25% of shares (more than Shahril's 16.7%). They don't need to press down the price.

Thanks for the correction Jon Choivo. Sorry, I thought Mokzhani sold off all his 10% stake.

@Pmaster: I am not concern about the price movement at all.... in fact, I welcome the price to fall further (even to 20 sen... no problem for me). I am buying up the shares at every fall of 6 or 8 sen.

Right now, the second largest shareholder of SAPNRG is:

Permodalan Nasional Bhd. holding 672,747,005 shares comprising 11.2% total shares.

Mokzhani only needs to get 12% of total shares to overtake PNB.

@Jon Choivo: See for yourself the latest major shareholders of SAPNRG (scroll down to the middle of the webpage.
http://www.4-traders.com/SAPURA-ENERGY-BHD-12615775/company/

Is there a possibility that Mokzhani Mahathir is aiming to buy back his 10% shareholding of SAPNRG at this very low price?