Just to share some infor for the benefit of members here ;
(1) Oil field currently drilled by Hibiscus belonged to 3D oil Australia. It does not come cheap to Hibiscus as it has paid 3D oil 2.04 million or 8 cts per share (AUD)
(2) Right to drill was given to Hibiscus on a profit sharing basis 50.1--49.9
In short the said oil field is a proven one but whether it is commercial viable is another story

PM WA ,
FOr your information both buyer and seller must agreed first before seeking shareholders approval at EGM.

I was told the promoters of Sona are in the midst of appointing Merchant Banker to do the paper works. Once the documents are ready and signed QA will be announced. Hopefully both parties involved will not change their mind as in the case of Cliq.

This is just my opinion only.

(1) Hibiscus price has gone up too fast mainly by speculation.

(2) Some profit taking has taken place but of late unusually heavy selldown has forced down the price of Hibiscus. This has something to do with pricefixing relating to CRPS. The weighted average price of Hibicus has been brought down to a more reasonable level to attract investors.
(3) Forthcoming announcement by Hibicus will be positive and prices will be back to normal thereafter.

Happy trading & Merry Christmas.

Recent selldown of Hibiscus has something to do with price fixing of
CRPS just my opinion

Infomation for all SPAC investors .....Investors will receive 90% of thier funds with interest after deduction of relevant taxes and liquidation/distribution costs which are not expected to be substantial if the SPAC fails to generate an acquisition within a 36 months period or if they vote against an approved QA. The Non-Independent Directors,Management and initial investors are not entitled to any distribution. This is in respect to Mother shares only.

For your information " dagoome " Management or Promotors shares will be fixed at 20% not at all times but before QA.

For your information Sona-wa cannot be exercised if no QA.

QA expected to be announced soon......asset in Papua New Guinea

All the best.

Announcement of QA is a significent event for SPAC and the promotors of CLIQ are undecided on the timing. SONA is the problem but with its private placement over and may be after its IPO CLIQ will release the QA.No promoters of SPAC will push its shares up for the sharehoders to sell to go to another similar SPAC---just my opinion

Should buy CLIQ the mother shares to be on the safe side as its warrants are way too high and out of the money now.

correction
should be 10 july 2013 and not 10 april 2013

Hibiscus --- Listing 25.jul 2011
Announcement of OA 25.oct 2011

Cliq --- Listing 10. april 2013
Announcement of OA may be around 10.april 2013

Anyway should not be too far away-----just my guess

Private placement for SONA is in progress and payment must be made by next tusday. My be it is a bit too late for CLIQ holders to sell now to go for SONA. Just my opinion

Dear Fauzan ....AGM has nothing to do with announcement of QA. Apparently the promoters of CLIQ could not agreed among themselves as to the date of announcement... hence the delay. my opinion only