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.