Great news - goes into production next month. Watch Hibby take off ;)

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=146573&name=EA_GA_ATTACHMENTS

Seems like the Share Buy Back is a disaster..

Gosh… when are Hibiscus going to defend the stock gains and protect share value and long term shareholders… pump and dump again

I’m not complaining ;)

Someone bought large at the bell at 2.80.. any idea what happened?

Noticed a few times of late that after the bell at 4.45pm there’s a diminishing of the stock price with late sales. It’s like most of the buy calls a removed but there’s some dodgy low value trades a few cents lower which seem to manipulate the price for the day.. most of the day it’s 2.59-60 and then a few low value trades at 2.56 after 4.45….???!

Thanks Twynstar, nicely put. What’s also clear is that the ongoing capex is being easily covered each quarter still with great PAT and we should start to see increasing output/ increased revenues as they are realised. They’re aiming to get to 35-50k barrels a day over the next few years with even better profit margins. Will be an interesting few years ahead. Have been accumulating also but not quite as cheap as you managed (low 90s) and will continue to hold and accumulate more when the opportunity arises. Will be interesting what they do with the shares bought back.. nice to see them distribute back to shareholders rather than remove from circulation…

Do we think Hibby price will explode? interested to hear thoughts.. they have a lot of cash, share buy back is progressing, good fundamentals, but they don’t seem to be loved.. another year and they’ll almost have more cash in the bank that they’re worth.. so things gotta change, or so I think.. thoughts/insights welcome ??

Who's dumping hibiscus.. There's been quite a sell off of shares the last few trading sessions .. Don't quite get it as fundamentals are outstanding.. Wish Hibby would buy more shares and support longer term shareholders positions. .

Not forgetting the RM892 million they have in the bank as unrestricted cash.. Yes this quarter was down which was expected as oil prices retreated alot however they still made RM100million + on increased production of 22 million barrels oil equivalent a day. The present quarter will also be excellent - 120mill+ I beleive. Share buy back is Progresso g although still not as agrees ive as they could/should be. The have also covered significant capital works during the quarter with the drilling of a number of wells wjichbhave increased production in Sabah and are not yet completed. Oils set to increase again on supply concerns and the outlook for Hibby is excellent..

Wow RM102 million profit on depressed oil prices…

Yep, bargain now. What happens when hibiscus cash in hand is more than its market cap?! Another year and we’ll be there

Very funny that.. I have been making money, that's the whole point! Ur no crystal ball gazer bondy.. If urve nothing constructive to say, just wanna fear monger, put others down, and bask in ur own vain fake prowess, go somewhere else.. keep talking into that mirror

EPF bought 3.2% last year and hibiscus also mopped up shares last year under their previous SBB mandate and are now buying more this year as the price is stil too low.. So with another 13% locked up of which at least 10% of hibiscus shares are removed or distributed back tk shareholders.. Coupled with so much insane geopolitical tension at present.. Is this not a wonderful long term investment???

Yes, very disappointing.. oils stabilised and will probably go back up and Hibiscus is being dumped despite a fantastic quarter, and management yet again do nothing to stabilise the price. No SBB and pitiful dividends.. not sure what they are trying to achieve here, especially as senior management own significant stakes in the business. Wouldn’t they want more out of it! Still I guess there’s an opportunity approaching to acquire more ..

Yes, unless they’re making it very attractive for a take over .. even then they could still be more generous.. they can’t take it with them 😉

Yes agree. My investment standing still. 3% return is a loss when you look at inflation and what I could get with the banks. Not sure why they want to hoard so much cash. Would expect at least 10% dividend given oil is ultimately going to move into decline so surprised they aren’t coming to the party yet.

So never enter cos Hibiscus has almost 1.70 a share in cash… wait and see Q3 results..

Why do they allow post market trading which dragged the share price down to 1.10 when it was 1.12 at close.. anyone know?

Btw as Brent is over US$93 a barrel, Tapis which is the oil hibiscus mainly sells is approaching US$100..

Yes, and after this quarter Hibiscus should easily have over 1.1 Billion in cash and cash equivalents... So are there really only worth 2.2 billion???

Check out Sept announcements to bursa, this will be voted upon at an AGM or EGM.. but it’s a given that this will pass

https://www.hibiscuspetroleum.com/investor-relations/bursa-announcements/

It’s good to finally see a correction in Hibbys price. I’m vested in the med/long term and I like the moves they have made.
1. They have significant cash… with this quarter over a billion RM sitting in their bank accounts
2. They have recently expanded their oil asset base in the UK which provides significant additional reserves to the group to expand upon.
3. The debt they have is for development of these assets and is more than covered by cash in hand.
4. They has kept quiet about the share buy back, which they should advise soon with their AGM. This would lead to more positive upside.
5. Share consolidation 5:2 will also remove more of the day traders from the counter and benifit med/long term positions.
6. With excess cash the stock is/will start paying higher dividends. I believe this with start with this quarter as they are lining up for a 200million+ PAT for July-Sept with the higher oil prices and this being their highest production output quarter for the year. Oil price downside is constrained by supply and low reserves globally.
7. Management are transparent in their dealings and provide comprehensive reports and have executed what they’ve said.

So there’s a lot to like about Hibiscus and, I believe, a lot of unrealised value and upside to be had.

What’s happening with Hibby, oils going up but someone dumping the stock today… can’t believe it’s still at just over RM1 when they are making hives profits, which will be even more this quart with the average oil price up US$15 and the exchange rates also in their favour.. guess will just have to keep waiting this out till the next quarters results and the share consolidation to reduce the percentage day traders ..

Finally Hibby moving… Tapis now US$93 a barrel..

https://www.hibiscuspetroleum.com/bursa-announcements/ More positive news.. Hibby significantly increases its reserves adjacent to its existing Uk assets

Another 6 million barrel draw in reserves in the states. Since April reserves are down 30 Million Barrels… what happens when it becomes a deficit in a few months .. they use the SPR again which is at 40 year lows…
https://oilprice.com/Latest-Energy-News/World-News/Oil-Steady-Despite-Large-Crude-Draw.html

Malaysian Tapis is now trading at over $90 up $15 from June. This is directly accretive to the bottom line (after royalties) which means they'll be 30-40% more profitable when this quarters results come out over last. Last year this quarter also had the highest production given the timing of their offtakes. So the pot of cash they have is going to continue to grow significantly... They might have more cash soon than the market cap! ;)

Good quarter. With share buy back starting soon and a commitment to 2.5 cents dividend minimum to end FY23 in June. outlook is very positive.