Posted by madguy > 2021-06-03 18:10 | Report Abuse

@HeLLo Cannot (=^x^=) monday no klse ....... lol

Posted by izoklse > 2021-06-03 19:27 | Report Abuse

Brent price better above 71 USD or 72 USD on Tuesday when Hibiscus open for treading. Hehehe baru ada powerful boost.

Posted by Miz Raya Bloom > 2021-06-03 21:16 | Report Abuse

ya ler, ku sentiasa sabar nak 3 ringgit
kikiki

Posted by kahhoeng > 2021-06-03 22:34 | Report Abuse

https://www.klsescreener.com/v2/news/view/836991

Posted by Bullrunrun > 2021-06-03 23:34 | Report Abuse

Next Tuesday depends on the brent oil price. if below 70, Hibicus may drop

Posted by izoklse > 2021-06-04 03:59 | Report Abuse

Hibiscus now in main news oilprice.com coverage

Are Regional Companies Ready To Dominate South Asian Oil Markets?

https://oilprice.com/Energy/Energy-General/Are-Regional-Companies-Ready-To-Dominate-South-Asian-Oil-Markets.html

Posted by izoklse > 2021-06-04 04:07 | Report Abuse

This will take Hibiscus from being a small Asian player to one of the majors in the region, beating Indonesia’s Medco Energi as a rival bidder for the assets.

Readul Islam, an Asia upstream specialist at Rystad Energy stated of the deal, “In the North Sea, there has been a pack of private equity-backed players willing to pick up stakes as the legacy players exit their positions. In this region, Hibiscus seems to be taking on that role pretty much single-handedly.”

https://oilprice.com/Energy/Energy-General/Are-Regional-Companies-Ready-To-Dominate-South-Asian-Oil-Markets.html

Posted by Xxxting > 2021-06-04 05:01 | Report Abuse

its a good news wonder why still people think will limit down

Posted by Jjkcl > 2021-06-04 06:33 | Report Abuse

only way is up

Posted by williamtkb > 2021-06-04 06:38 | Report Abuse

Wah.... Monday limit up? Can slowly offloading my lorries collected below 50cents.

Posted by bullmarket1628 > 2021-06-04 06:45 | Report Abuse

Wow, oil price continue to rise !
Brent closed at $71.41 ‪+0.06 +0.08%‬

Huat ah, Heng ah, Ong ah !‬

Posted by Mayleow777 > 2021-06-04 07:51 | Report Abuse

Monday agong birthday

Posted by kakiminyak > 2021-06-04 08:19 | Report Abuse

yeah makan kek dulu.

Posted by Miz Raya Bloom > 2021-06-04 08:56 | Report Abuse

hujung minggu ini bake cake, monday makan, lepas lockdown naik 20 stone kikiki

Posted by Godofgambler > 2021-06-04 09:35 | Report Abuse

KLSE Screener KLSE Screener

Hibiscus delivers on its promise
TheStar Fri, Jun 04, 2021 09:30am - 1 minute ago



Analysts were generally positive over the development, with most maintaining their “buy” calls on the Hibiscus stock.

PETALING JAYA: Hibiscus Petroleum Bhd’s acquisition of exploration and production (E&P) assets in Malaysia and Vietnam from Spanish oil and gas company Repsol Exploración, S.A. is value-accretive, especially given the current healthy oil price environment.

Analysts were generally positive over the development, with most maintaining their “buy” calls on the stock.

In a report, BIMB Securities Research said the acquisition which will cost US$212.5mil (around RM877mil) suggested that the company is delivering on its promise to acquire producing assets.

“Once the purchase is completed, we believe this will enhance its profile as a capable and prominent E&P player hence opening up opportunities to acquire larger assets including Exxon’s Malaysian asset, ” it said.

AmInvestment Bank in its report said the value-accretive transaction translates to an attractive US$2.72 (RM11.22) per barrel of oil equivalent, half of Hibiscus’ existing enterprise value/proven and probable reserves or EV/2P, which is a ratio used to value oil and gas companies’ reserves.

Generally, a lower value would imply a potentially undervalued company.

“Based on the enterprise value for the group’s existing 2P reserves precluding any new acquisitions, Hibiscus is currently only trading at US$5.40/barrel (RM22.27) – at a discount of 41% to its closest peer, UK-listed EnQuest, and half of the regional average.

“This is compelling given the more optimistic crude oil price environment, ” said AmInvestment in the report to clients.

Hibiscus has already issued RM204mil convertible redeemable preference shares (CRPS), the initial tranches of a proposed RM1bil programme to fund such an acquisition, it added.

That said, Hibiscus has not said how it plans to fund this purchase.

“The company is committed to announce the full details of the proposed acquisition by June 4 following clearance of the relevant disclosures by industry regulators, ” Hibiscus said on Wednesday.

BIMB said it expected this asset to more than double Hibiscus’ 2P reserves and production.

“Nonetheless, we made no change to our earnings forecasts pending more details from the company, ” it said, reiterating its “buy” call with an unchanged target price of RM1.20.

“We think this is fair given potential earnings contribution from the acquisition of this asset.”

AmInvestment, meanwhile, also maintained its “buy” recommendation on Hibiscus with an unchanged sum-of-parts-based fair value of 85 sen per share.

The company which suspended its stock to make way for this announcement yesterday, will resume trading on Monday.

At last look, the stock was at 65.5 sen, valuing the entire company at RM1.3bil.

Posted by Godofgambler > 2021-06-04 09:54 | Report Abuse

Quite possible will cross more than RM1.....
Tp1.50

Posted by sampooler > 2021-06-04 09:57 | Report Abuse

likely it will touch 1 next week.

Posted by Miz Raya Bloom > 2021-06-04 09:58 | Report Abuse

kaunter ini pernah naik 3 ringgit kan?

Posted by Godofgambler > 2021-06-04 10:20 | Report Abuse

2.70 historical high.. I pikir...
Potensi tinggi

Posted by pea3034 > 2021-06-04 11:33 | Report Abuse

jgn mimpilah harga naik ,pasti harga turun kerana ,syt kecil beli syt besar.mesti harga kurang dari 0.65sen itu terorinya

Posted by pea3034 > 2021-06-04 11:46 | Report Abuse

mungkin mereka buat gabung tiga seyer kepada satu syer utk kumpulkan dana ... ini tektik biasa buat oleh syt

Posted by mitchu > 2021-06-04 12:03 | Report Abuse

Miss bloom apa khabar.i have been playing this share for the last 6 yrs.ican tell u this share is not for the contra players .it moves 123sen and closed at the same price.u buy must hold .

Posted by TakeProfits > 2021-06-04 13:56 | Report Abuse

Good luck if limit up...
No movement when.it open arh....Also good luck to you..
If limit down...relax lar with teh ais kosong..haha..

Posted by bullmarket1628 > 2021-06-04 15:11 |

Post removed.Why?

Posted by PeacefulWarrior > 2021-06-04 15:23 | Report Abuse

Hope someone like Syed Mokhtar come and take Hibiscus private...hahaha

Posted by pea3034 > 2021-06-04 16:38 | Report Abuse

why? syed Mokhtar not fenandes ...not malay

Posted by izoklse > 2021-06-04 17:37 | Report Abuse

i think open 76 sen also ok and terus naik until above 85 sen. If go above RM 1 is very good already.

Posted by kokchengkai > 2021-06-04 19:45 | Report Abuse

Expected EBITDA contribution of USD135 million in CY 2022

Posted by tingpangeng > 2021-06-04 20:26 | Report Abuse

PETRONAS jewel of the crown is PETRONAS Carigali SB (PCSB) , Hibiscus with an impressive track record as PAC and added reserves from this acquisition will place her in the same league like PCSB. Well done Hibiscus for the amazing achievement to continue create value for the stack holders

Posted by kahhoeng > 2021-06-04 20:39 | Report Abuse

I'm happy with 0.85-0.95 range... Hope hibiscus per share profit and cash flow will rise post acquisition.

Posted by kokchengkai > 2021-06-04 20:43 | Report Abuse

The ikan bilis would like to see tis ...
(v) bank borrowings and/or debt funding.
The Group does not intend to propose a rights issue as a source of funding as the Group believes
that other available sources of funding are sufficient to fund the Purchase Price.
The actual breakdown of the source of funding will only be determined later and will depend on,
amongst others, the Group’s cash reserves and future funding requirements.

Posted by InsiderR > 2021-06-04 20:57 | Report Abuse

https://www.hibiscuspetroleum.com/wp-content/uploads/2021/06/HPB-Proposed-Acquisition-of-Repsol-Assets-Final.pdf

More than 17,000 boed (including gas) added from Repsol assets.

Posted by tingpangeng > 2021-06-04 21:11 | Report Abuse

There is a potential of sell on news on this coming Tuesday but for those who bought in at last closing price and believes in the revenue / profit growth potential of Hibiscus with ability to hold will be reward handsomely in the mid term

Posted by sampooler > 2021-06-04 21:23 | Report Abuse

The fair value suppose to be RM1

Posted by sampooler > 2021-06-04 21:24 | Report Abuse

many people already waiting this chance of life time for almost 1 year.

Posted by derrtan > 2021-06-04 21:30 | Report Abuse

really impressive acquisition. They are lucky that repsol is existing due to their focus on green energy or else will not be getting this price. Exxon is asking for USD1-2bil for their asset.

Posted by Jjkcl > 2021-06-04 22:16 | Report Abuse

Tuesday shoot up

Posted by BoPoint > 2021-06-04 22:34 | Report Abuse

Holy Crazy Shit. EBITDA 550million to be added to existing earnings. How many companies can make this? Could be worth up to 6bil if they can make this true. Triple current share price to reach 6b. and there's still less than 10 PE. Can we imagine a 15 PE?

Posted by PatienceIsKey > 2021-06-04 23:00 | Report Abuse

https://www.theedgemarkets.com/article/hibiscus-petroleum-buys-repsol-assets-enters-vietnam-market

Posted by izoklse > 2021-06-04 23:23 | Report Abuse

Hibiscus Petroleum sees RM558m Ebitda in 2022 from Repsol deal

KUALA LUMPUR (June 4): Hibiscus Petroleum Bhd expects its daily oil and condensate production to double from 9,000 to 18,500 barrels per day next year after it has taken over five production sharing contracts from Spanish oil major Repsol.

The acquisition will cost Hibiscus US$212.5 million (RM879.5 million).

In the statement, Hibiscus said it estimated that the new asset purchased will generate approximately US$255 million total net undiscounted cash flows over the next five years.

It also highlighted that the estimated earnings before interest, taxes, depreciation and amortisation (Ebitda) contribution to the group is US$135 million for 2022.

The company’s indirect wholly-owned subsidiary, Peninsula Hibiscus Sdn Bhd had on Tuesday entered into a conditional sale and purchase agreement (SPA) with Repsol Exploración, S.A. for the proposed acquisition by Peninsula Hibiscus of the entire equity interest in Fortuna International Petroleum Corporation (FIPC).

FIPC owns stakes in four PSCs in Malaysia and one PSC in Vietnam.

The transaction includes a 35% interest in PM3 CAA PSC, 60% in 2012 Kinabalu Oil PSC, 60% in PM305 PSC and 60% in PM314 PSC offshore eastern Peninsular Malaysia, and 70% in Block 46 CN in Vietnam (a tie-back asset to the PM3 CAA production facilities).

Trading of Hibiscus shares is suspended from Wednesday until Friday in conjunction with the announcement. The counter last closed at 65.5 sen, valuing the group at RM1.3 billion. The stock will resume trading next Tuesday (June 8).

In a bourse filing today, the company said almost 50% of the FIPC Group’s production comprises gas.

“The addition of gas production is expected to present a better balance to the Hibiscus group’s asset portfolio in terms of price volatility, markets and operations,” it said.

According to the group, the actual breakdown of the source of funding will only be determined later, and will depend on, amongst others, the group’s cash reserves and future funding requirements.

Meanwhile, it said, the purchase price was arrived at on a willing-buyer willing-seller basis.

“The company anticipates completing the transaction in 2021. However, given that the effective date of the proposed acquisition is Jan 1 2021, all economic benefits and risks from that date will accrue to Hibiscus Petroleum,” Hibiscus said.

The acquisition will boost the company’s 2P net entitlement of daily gas production from 2 MMscf per day to 49 MMscf per day in 2022; meanwhile 2P oil and condensate reserves will be increased from 46 MMbbl to 67 MMbbl and 2P gas reserves would jump from 9 Bscf to 93 Bscf.

It added, the 2P oil, condensate and gas reserves are valued at US$285 million.

“Once completed, this acquisition will be transformational for us and bodes well for the business trajectory of Hibiscus Petroleum into its next phase of growth.

“Finally, we will be enhancing our geographical footprint and entering Vietnam and thus we look forward to developing a strong working relationship with PetroVietnam, both as a regulator and as our new partner,” said Hibiscus Petroleum Managing Director Dr Kenneth Pereira.

https://www.theedgemarkets.com/article/hibiscus-petroleum-sees-rm558m-ebitda-2022-repsol-deal

Posted by izoklse > 2021-06-04 23:26 | Report Abuse

This is crazy . Good job Hibiscus.

The acquisition will boost the company’s 2P net entitlement of daily gas production from 2 MMscf per day to 49 MMscf per day in 2022; meanwhile 2P oil and condensate reserves will be increased from 46 MMbbl to 67 MMbbl and 2P gas reserves would jump from 9 Bscf to 93 Bscf.

It added, the 2P oil, condensate and gas reserves are valued at US$285 million.

Posted by kakiminyak > 2021-06-05 00:11 | Report Abuse

Limit Up !!!

Posted by kakiminyak > 2021-06-05 00:18 | Report Abuse

“The company anticipates completing the transaction in 2021. However, given that the effective date of the proposed acquisition is Jan 1 2021, all economic benefits and risks from that date will accrue to Hibiscus Petroleum,” Hibiscus said.

Ladies and gentlemen the price of Brent crude on Jan 1 2021 was U.S. $ 51

Today is above $71 !!!

The value of the asset purchase already shoot up by 40 % since Jan 1st. Ho! Ho! Ho!

It is going to fly to the mooooooon next week.

Posted by MatKoh > 2021-06-05 01:01 | Report Abuse

Looking forward to next Tues Have been holding this stock patiently for so long.

Posted by i3lurker > 2021-06-05 01:45 | Report Abuse

thanks rr88

Posted by chamlo > 2021-06-05 02:23 | Report Abuse

RM 879.5 million gone so PP, RI coming? Tuesday fast fast must run.

Posted by kakiminyak > 2021-06-05 02:25 | Report Abuse

This is one of the few truly Muhibbah counter. Got Indian, Chinese and Malay. This is truly bunga raya. The Indian here is highly educated , the Chinese here is a shrewd businessman and the Malay has the connections including Islamic financing. Please do proper research and don't bad mouth anyone. We are all Malaysians. Foreign investors also looking at us to see how we work together. After 1MDB our reputation already masuk longkang. Hibiscus Petroleum will raise our flag up high for all to see. We can do wonders. When we are all dedicated to nation building. Now put your best foot forward and lets march together.

Posted by chamlo > 2021-06-05 02:27 | Report Abuse

RM 879.5 million gone so PP, RI coming? Tuesday fast fast must run.

Posted by kakiminyak > 2021-06-05 02:27 | Report Abuse

By the way I am Singh. We always fight for our country, regardless of race or religion. We are all children of one GOD.

Posted by izoklse > 2021-06-05 03:15 | Report Abuse

For me Hibiscus is manage well by Malaysia people and they manage to stand the strongest wave last year and this year. Now they emerge stronger. I am very proud and happy to bought this counter share last year when it share price well below 30 cent. To see it success and now will become one of serious major Oil & Gas Player in Asia really give me satisfaction. As an investor of this company, i just want to say congratulation Hibiscus and their team from every level and Job Well-done guys. Like what kakiminyak said..You are truly BUNGA RAYA.