HIBISCUS PETROLEUM BHD

KLSE (MYR): HIBISCS (5199)

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Last Price

2.28

Today's Change

0.00 (0.00%)

Day's Change

2.26 - 2.30

Trading Volume

551,300


68 people like this.

105,010 comment(s). Last comment by bose00 18 hours ago

Posted by mokluhanj21 > 2021-09-03 11:47 | Report Abuse

Girl, why u still asleep? HAHAHA. BUY BUY BUY WALAWEH


Nearly 95% of Gulf Coast oil and gas production offline as Hurricane Ida buffets Louisiana:

https://www.morningstar.com/news/marketwatch/20210829230/nearly-95-of-gulf-coast-oil-and-gas-production-offline-as-hurricane-ida-buffets-louisiana

derrtan

1,796 posts

Posted by derrtan > 2021-09-03 12:53 | Report Abuse

Oil up it sure down one...almost never miss

Jojobaa

52 posts

Posted by Jojobaa > 2021-09-03 15:10 | Report Abuse

Dear fellow i3-ers,

Wake up and open your eyes.

Hibiscus current market cap = RM1.3billion
Hibiscus current EBITDA FY2021 = RM380 million

Now let us assume that Hibiscus is valued based on market cap/EBITDA, which means the market is pricing in a market cap to EBITDA ratio of 4x.

Now let us assume that Hibiscus has completed its Repsol acquisition, and assuming that the market prices its future market cap to EBITDA of 4x as above.

Hibiscus current EBITDA FY2021 + Repsol = RM380 million + RM570 million = RM950 million.

If the above holds true, Hibiscus should be valued at RM950 million x 4 = RM3.8 billion.

Why is Repsol adding so much in market cap, you must ask? Because the RCPS has already been fully converted and hence diluted into the market cap of Hibiscus, plus majority of the funding of the acquisition is via the cash flow from the Repsol assets since 1 January 2021, and some minimal debt, according to Hibiscus's presentation with FIRL. In essence, Hibiscus is paying money that is already in its pocket, does not need to raise more capital from shareholders to get an asset that is generating 1.5x its current cash flow.

I don't want to say that it is obvious, but guys, come on, it's damn obvious. Furthermore the above Ebitda of RM950 million is assuming oil price is between USD50-55 Brent. It is currently trading at USD73, which means much higher EBITDA.

I'm being conservative.

kahhoeng

3,926 posts

Posted by kahhoeng > 2021-09-03 15:30 | Report Abuse

Fainted, no eye see, oil down share price up, oil up share price down...

Posted by Predictor942 > 2021-09-03 16:00 | Report Abuse

come on hibiscus good stock to invest

Posted by Predictor942 > 2021-09-03 16:00 | Report Abuse

Tp 1.5

kahhoeng

3,926 posts

Posted by kahhoeng > 2021-09-03 20:58 | Report Abuse

err... oil down price up, oil up price down, so as a shareholder, should I pray a falling oil price to see a rising share price or a rising oil price to see better earning report?

Posted by bullmarket1628 > 2021-09-04 10:35 | Report Abuse

Langkawi To Welcome Local Tourists As ‘Pilot Project’ Starting 16 September
Published 2 days ago September 2, 2021

worldofbuzz.com/langkawi-to-welcome-local-tourists-as-pilot-project-starting-16-september/

Posted by bullmarket1628 > 2021-09-04 10:37 | Report Abuse

The government has agreed to open the tourism sector in several destinations under the ‘travel bubble‘ programme based on a list of conditions.

As reported by Utusan Malaysia, Prime Minister Datuk Seri Ismail Sabri Yaakob said, for a start, Langkawi Island was chosen as a pilot project to be reopened to local tourists on Malaysia Day, 16 September.

“We are pleased to inform that through the meeting, we agreed to open the tourism sector in several destinations under the “travel bubble” programme based on the conditions set. For a start, Langkawi Island has been selected as a pilot project to reopen to local tourists starting 16 September,” he said.

He added that it would not be long before other tourist destinations will also be a part of this project.

“Other tourist destinations will be allowed to operate when the locality vaccination rate reaches 80%,” he said.

DickyMe

14,675 posts

Posted by DickyMe > 2021-09-04 13:10 |

Post removed.Why?

twynstar

361 posts

Posted by twynstar > 2021-09-04 22:00 | Report Abuse

For Hibiscus FY2021 ( 01/07/2020 till 30/06/2021)

1) North Sabah
Average net oil production rate : 6,442 bbls per day
Average realised oil price: USD51.75 per bbl.
Opex : USD14.21 per bbl
Revenue : RM569.9 million
EBITDA : RM313.2 million
Margin of EBITDA : 55%

2) Anasuria UK
Average net oil and gas production rate : 2,665 bbls per day
Average realised oil price :USD50.04 per bbl.
Opex : USD22.19
Revenue : RM229.0 million
EBITDA : RM90.5 million
Margin of EBITDA : 39.5%

Total net operating cash flow : RM 297 million
Total capital expenditures ( capex ) : RM 137.5 million
Free cash flow : RM 297 million - RM 137.5 million = RM 159.5 million


3) Repsol assets
--Hibiscus bidded Repsol assets at early of 2021, during Brent oil USD 48-55 per bbl
--Average net oil and gas production rate : 17,400 bbls per day
--Opex of oil : around USD 15 per bbl
--Opex of oil and gas : less than USD 15 per boe
--Estimated EBITDA : RM 558.8 million
--capital expenditures ( capex ) : USD 80 - 110 million (Aminvest and Public Bank prediction)

Energy Information Administration (EIA) estimated the average Brent oil price for 2021 is around USD 68.

Total revenue from Repsol ( 01/01/2021 till 31/12/2021)
= 17400 x 365 x 68 x 4.1 ( RM conversion rate) = RM 1,770.7 million
If the margin of EBITDA same with North Sabah, which is 55%,
Estimated EBITDA from Repsol : RM 1,770.7 million x 55% = RM 973.9 million

Total EBITDA for Hibiscus for CY2021 ( 01/01/2021 till 31/12/21)
= North Sabah + Anasuria UK + Repsol
= RM313.2 million + RM90.5 million + RM 973.9 million
= RM 1,377.6 million ( at least )

twynstar

361 posts

Posted by twynstar > 2021-09-04 22:02 | Report Abuse

The sum-of-the-parts valuation (SOTP) of Hibiscus

Refer to https://www.amequities.com.my/documents/20126/0/Hibiscus+Petroleum+210827.pdf/efff9a3f-bec4-876e-1f98-91599f5a9fc2?t=1630028292073

1) Anasuria UK
Hibiscus bought at USD 52.5 million
Current value of Anasuria UK = USD 187.7 million

2) North Sabah
Hibiscus bought at USD 25 million
Current value of North Sabah = USD 217.4 million

3) UK Marigold and Sunflower fields
Hibiscus bought at USD 37.5 million and owns 87.5%
Estimate : 43.6milllion 2C oil Resources

4) Repsol assets
Hibiscus will buy at USD 212.5 million
Estimate value by RPS Energy : USD 285 million

zhangzuode

254 posts

Posted by zhangzuode > 2021-09-05 12:07 | Report Abuse

Maybe "investors" are still not sure because it took about 18 months for the North Sabah deal to complete (Oct 2016 to Apr 2018).

Then Hibiscus was a nobody and it was a first where a "novice" is buying. Before, it was a major buying from another major.

Today, Hibiscus is known to Petronas and the wavier/expiry of pre-emption rights by Cargali (& PVEPC) was quickly obtained as announced on 14 Jul 2021, a mere 1+ month from S&P announcement on 4 Jun 2021. Remember Carigali is 100% owned by Petronas - Petronas would have given approval to Carigali to proceed with the wavier.

The remaining steps would be EGM and Petronas (& PetroVietnam) approval. These two steps would be mere formalities, so the closing of this Repsol deal would be end of 2021/early 2022.

As I have written before, this deal is Hibiscus buying another Hibiscus. The value accretion is there. Do your own due diligent.

Have a good Sunday, peace.

superrr

3,741 posts

Posted by superrr > 2021-09-06 09:23 | Report Abuse

World Oil market plunged, no good now

superrr

3,741 posts

Posted by superrr > 2021-09-06 09:25 | Report Abuse

Market will follow Oil price to be dropped

Posted by bullmarket1628 > 2021-09-06 10:13 |

Post removed.Why?

derrtan

1,796 posts

Posted by derrtan > 2021-09-06 11:52 | Report Abuse

this stock is a bit hopeless

kahhoeng

3,926 posts

Posted by kahhoeng > 2021-09-06 11:57 | Report Abuse

last week, its oil up price down, now it's oil down price down, haha... guess has to wait till the Repsol deal is completed???

derrtan

1,796 posts

Posted by derrtan > 2021-09-06 12:28 | Report Abuse

i thought the deal already completed??

twynstar

361 posts

Posted by twynstar > 2021-09-06 19:09 | Report Abuse

Post-Bloom, Hibiscus' Position In Fossil-Clean Era

https://klse.i3investor.com/blogs/bfm_podcast/2021-09-06-story-h1570751425-Post_Bloom_Hibiscus_Position_In_Fossil_Clean_Era.jsp


You can fast forward to 10:30 minutes for Repsol acquisition

Conclusion : Hibiscus just needs to pay less than USD 100 million for Repsol assets

Posted by bullmarket1628 > 2021-09-07 09:17 |

Post removed.Why?

kahhoeng

3,926 posts

Posted by kahhoeng > 2021-09-08 09:09 | Report Abuse

despite what the CEO is saying, the market is telling him, SHOW ME THE MONEY!

Squirtle

803 posts

Posted by Squirtle > 2021-09-08 11:40 | Report Abuse

Sifu is say will go 1.00
Better than is buy house

derrtan

1,796 posts

Posted by derrtan > 2021-09-08 12:05 | Report Abuse

rubbish counter

jonathan_k

159 posts

Posted by jonathan_k > 2021-09-08 14:21 | Report Abuse

Earning money but waiting

Posted by SharehlderOppression > 2021-09-08 16:29 | Report Abuse

Repsol acquisition will bring in Rm558m Ebitda
212.5m USD purchase price sounds like a great deal

Posted by SharehlderOppression > 2021-09-09 09:19 | Report Abuse

The quality of assets sought by Hibiscus in the region are those that can triple or quadruple its current production rate.

kahhoeng

3,926 posts

Posted by kahhoeng > 2021-09-09 11:05 | Report Abuse

the problem with hibiscus is keeping issuing new shares at "way below market price", to who knows who they are, to buy new assets. The issuance of new shares keep diluting the profits earned due to the new shares issued, just look at the NA/share. Minority shareholders are not participating in the issuance of new shares are not actually benefiting from the acquisitions.

twynstar

361 posts

Posted by twynstar > 2021-09-09 11:22 | Report Abuse

Dr Kenneth did mention that Hibiscus might need to issue third tranche of CRPS if they want to acquire another new asset after Repsol

Cash999

149 posts

Posted by Cash999 > 2021-09-09 11:30 | Report Abuse

@Kahheong: I agree with you. This is the only reason I can think of that is causing the current stock price. In 21 days, Q121 will end and another RM50MM NP. But that doesn’t mean anything if shares continue to get diluted. The announcement is a surprise and disappointing.

liykkle

7 posts

Posted by liykkle > 2021-09-09 15:49 | Report Abuse

bloodbath

zhangzuode

254 posts

Posted by zhangzuode > 2021-09-09 16:31 | Report Abuse

If issuing new shares can always double current production, it is most welcome, even for minority shareholders.

Do carry out proper due diligent before dismissing it as totally negatives.

jonathan_k

159 posts

Posted by jonathan_k > 2021-09-09 17:13 | Report Abuse

True. Double production. Double EBITA. Minor dilutions is no problem.

Cash999

149 posts

Posted by Cash999 > 2021-09-09 19:43 | Report Abuse

I bought H shares last year and sold off all when CRPS/dilutions started. I bought H shares again before repsol acquisition announcement. It’s deja vu. I’ll sell all shares again this week and come back after 6 months. The stock price will be either be the same or lower.

kahhoeng

3,926 posts

Posted by kahhoeng > 2021-09-10 09:13 | Report Abuse

err... what negatives? If a deal's most earnings go towards CRPS holders rather than shareholders of Hibiscus, particularly who have held long terms but not entitled to such exercise, how can this be good? Had all shareholders been offered the opportunities to participate before offering to certain party, the minorities may not feel that hurt. Truth is, if this were to happen again, I won't rule out requesting MACC to look into such deal.

unomi12

342 posts

Posted by unomi12 > 2021-09-10 09:21 | Report Abuse

When the repsol deal is finalized , i dont see why this share is not going 80 to 90 sen range. Looking at the recent oil price USD70 per barrel, year end expecting to reach USD 80 onwards especially towards winter time.

unomi12

342 posts

Posted by unomi12 > 2021-09-10 09:36 | Report Abuse

Dr Kenneth also mentioned during the repsol acquisition , the oil price at that particular time was at USD 50 per barrel.
Now is 70 USD per barrel, we are talking like increasing in 40% per barrel.

Cash999

149 posts

Posted by Cash999 > 2021-09-10 09:58 | Report Abuse

Sell Hibiscus shares.
1. Major dilution is going to happen. This will only benefit the major holders. Buying price is 0.48.
2. Oil average at $73/barrel not positively influencing the stock price today.
3. Dependent on successful execution of MnA.

Cash999

149 posts

Posted by Cash999 > 2021-09-10 15:58 | Report Abuse

I’m queuing to sell at 0.65. In between 1.2million shares now! I’ll be back when price drop to ~0.6 or less.

kahhoeng

3,926 posts

Posted by kahhoeng > 2021-09-10 17:21 | Report Abuse

jojoba showing the company's credibility is very low?

Cash999

149 posts

Posted by Cash999 > 2021-09-10 17:35 | Report Abuse

Jojoba, Kahheong and I shared the same promising data and news about Hibiscus. Only jojoba is in denial. He/she cannot answer for the poor stock price also.

twynstar

361 posts

Posted by twynstar > 2021-09-10 21:41 | Report Abuse

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING HIBISCUS PETROLEUM BERHAD ("HIBISCUS PETROLEUM" OR "THE COMPANY") ALLOTMENT AND ISSUANCE OF UP TO 2,000,000,000 NEW ISLAMIC CONVERTIBLE REDEEMABLE PREFERENCE SHARES BY WAY OF PRIVATE PLACEMENT EXERCISE TO RAISE UP TO RM2.00 BILLION ("PRIVATE PLACEMENT OF CRPS")


https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3189997




The CRPS programme is a multi-tranche programme which permits the Company to issue CRPS in tranches as and when it is required. Since the launch of the CRPS programme in September 2020, Hibiscus Petroleum has only issued RM203.6 million CRPS. The Company exercised caution when sizing the issuance, which was based on the amount the Company estimated was required to pay a SPA deposit based on its bids pipeline.


This announcement is dated 3 September 2021.

Posted by diuleiloumei > 2021-09-10 22:08 | Report Abuse

Hope Monday gap up

Posted by bullmarket1628 > 2021-09-11 07:56 |

Post removed.Why?

twynstar

361 posts

Posted by twynstar > 2021-09-11 15:19 | Report Abuse

Investment strategy : How to become financial free through stock market investment?

Step 1 : Try to find a way to make a big fund as early as possible, may be at least RM 300,000. This is the hardest part.

Step 2: Use all your fund to buy a single undervalued stock when the chance comes. Keep it for 3 to 7 years until 3X ,then sell all of them. Your fund should be worth at least RM 1 million. Keep all of these money in FD or bonds, and wait for the second chance.

Step 3: When the second chance comes, use all of your fund to buy a single undervalued stock, keep it for 3 to 7 years then sell it at 3X. Your fund should be worth at least RM 3 million.

Step 4 : Finally, you should diversify all these money in high dividend stocks or REITs which will give at least 5% dividend. That means you will have at least passive income of RM 150,000 every year.

This is a very simple way to help you retire early, but not easy to practise. You need to read a lot and do some research. You need to convince yourself regarding the true intrinsic value of stock.

Jeff Bezos, founder, chairman, CEO, and president of Amazon is the richest man in the world. Once in a meeting with Warren Buffett, he asked America’s most prolific investor, your investment thesis is so simple. You’re the second richest guy in the world, and it’s so simple. Why doesn’t everyone just copy you?”

Warren Buffett responded Jeff by saying, “Because nobody wants to get rich slow.”

twynstar

361 posts

Posted by twynstar > 2021-09-11 15:20 | Report Abuse

I think by current share price, Hibiscus offers us the precious chance ( low risk, high reward) for financial free. In order to understand the true intrinsic value of Hibiscus, I think it is worth for you to spend at least 1 month from now ( before Hibiscus completes Repsol acquisition):

1) to read a lot regarding Oil and Gas industry
2) to understand Exploration and Production ( E&P ) sector
3) to read all annual reports and quarter reports of Hibiscus. Try to find extra information / presentation via Google or Youtube
4) Try to understand business model of Hibiscus
5) Can you trust the management team? What can be done better if you were CEO?
6) Who are Hibiscus' competitors? Local and international
7) What is the risks in investing Hibiscus

If you plan to invest big in particular undervalued stock for long term, I think it is worth your time to do detailed research on Hibiscus.

DickyMe

14,675 posts

Posted by DickyMe > 2021-09-11 20:56 |

Post removed.Why?

clc689

42 posts

Posted by clc689 > 2021-09-11 23:41 | Report Abuse

Management mentioned Repsol Asset acquisition expect to complete by CY2021.
So the Segment result from Repsol will show in 2nd Half 2021 coming QR or next year?

Because some analyst informed Repsol result only included in FY22 2nd half....

Jasonn

94 posts

Posted by Jasonn > 2021-09-12 07:14 | Report Abuse

cy2021 is calendar year 2021, that means expected to complete by this year. If completed by end Dec, segment results will be included in q1 2021 quarter and we will be able to see the q1 results on may 22.

Jasonn

94 posts

Posted by Jasonn > 2021-09-12 07:15 | Report Abuse

Typo erro, segment results will be included in q1 2022

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