Posted by mrcrab > 2022-05-26 14:42 | Report Abuse

Agree

Posted by mokluhanj21 > 2022-05-26 14:48 | Report Abuse

is the market backward looking or forward looking? I am beginning to ask myself.
yes offtakes in QEnded Mar 22 was less. but does that mean, offtakes are going to remain low for the whole of CY22?
the street is upset that numbers were not delivered. let's hope (and scrutinise) Mgmt to see if they are able to deliver the rest for 6months CY22.

Opex have increased, COF also increased- this indicates they are doing something (otherwise where is all that expense going towards?)

The Street may forgive this past less exciting quarter but if next quarter is also underwhelming, things may be bloody :P

Posted by Markv572421 > 2022-05-26 14:56 |

Post removed.Why?

Posted by value_seeker > 2022-05-26 16:01 | Report Abuse

3lurker

for a 1 sen share

RM0.50 will be a fair price each Hibiscus share

i3lurker has very pessimistic view. Very minimum view on growth. Sad no Mr Negative.

Posted by Primeinvestor > 2022-05-26 18:20 | Report Abuse

one year free cash flow will be RM1.5b, can pay you huge sum of dividend soon, just be patient

Posted by Primeinvestor > 2022-05-26 18:21 | Report Abuse

if payout is 30% RM500m dividend, thats 20% yield, strong hint for you guys first, dont say i din tell

Posted by bullmarket1628 > 2022-05-26 18:37 | Report Abuse

Hibiscus Petroleum 3Q net profit soars nearly 10-fold to RM307.54 mil, declares one sen dividend
Sulhi Khalid/theedgemarkets.com
May 25, 2022 15:35 pm +08

https://www.theedgemarkets.com/article/hibiscus-petroleum-3q-net-profit-soars-nearly-10fold-rm30754-mil-declares-one-sen-dividend
KUALA LUMPUR (May 25): Hibiscus Petroleum Bhd's net profit in the third quarter ended March 31, 2022 (3QFY22) soared nearly 10-fold to RM307.54 million from RM32.03 million a year ago, supported by the newly acquired assets, high average realised oil price, coupled with careful management of costs and efficient operational performance.
Earnings per share surged to 15.32 sen from 1.76 sen.
In a Bursa Malaysia filing on Wednesday (May 25), the oil and gas company said its quarterly revenue jumped by 37.54% to RM297.06 million from RM215.98 million a year earlier.
The group also declared a single interim dividend of one sen per share.

For the cumulative nine months ended March 31, 2022, the group's net profit increased more than seven times to RM397.55 million from RM54.08 million.
Revenue, on the other hand, came in 50.09% higher at RM828.15 million compared with RM551.76 million.
On a quarterly basis, the group's net profit jumped six-fold from RM48.49 million reported in the immediate preceding quarter while revenue increased by 4.45% from RM284.4 million in 2QFY22.
Commenting on the group's financial performance, the group's managing director Dr Kenneth Pereira said this is the first quarter for which the group is reporting operational and financial metrics which include the newly acquired assets and it expects its numbers to further improve in the coming months against a backdrop of strong oil prices.
"Our objective in recent months has been to focus on understanding the newly acquired Repsol assets so that we can operate these safely and efficiently.
"We are also very pleased to be able to continue to reward our loyal shareholders with an interim dividend for the current financial year.
"With the relatively high crude oil prices that we currently see, we hope to be able to close FY22 on June 30, 2022 on a positive note," Kenneth said.
In January this year, Hibiscus through its indirect wholly-owned subsidiary Peninsula Hibiscus Sdn Bhd successfully completed the acquisition of the entire equity interest in Fortuna International Petroleum Corp from Repsol for a purchase price of US$212.50 million (about RM890.06 million).
The company noted in a Wednesday statement that the financial performance of the group has been boosted significantly by the acquisition with the newly acquired assets contributing RM390.1 million and RM334.9 million to the group's EBITDA and PAT respectively. It also added that the fair value when compared against the final purchase consideration for the acquisition resulted in a negative goodwill of RM317.3 million.
Meanwhile, moving forward, the group said it has seen oil prices at various price levels, on some occasions lower and at other times higher than at the current time.
"Through these fluctuations, the group has managed to remain profitable. This is primarily because our average unit production costs for our producing assets have been below the average realised oil price at the relevant times.
"The careful management of costs to maintain low operational expenditure and the successful execution of production enhancement projects are, therefore, key towards achieving low unit production costs.
"Overall, we remained focused on delivering optimal performance in a strong oil price environment," it said in a Wednesday statement.
At noon break, shares in Hibiscus settled three sen or 2.1% lower at RM1.40, giving it a market capitalisation of RM2.82 billion.
Joyce Goh

Posted by i3lurker > 2022-05-26 19:43 | Report Abuse

1 sen dividend ?

pooi
plek

Posted by LouiseS > 2022-05-26 20:01 | Report Abuse

现在交易量极高的石油公司HIBISCUS PETROLEUM ，值得投资吗？
HIBISCUS PETROLEUM BERHAD 2021 年度财报分析
https://youtu.be/hgnfmv6XjcQ

Posted by Sakolim > 2022-05-26 21:39 | Report Abuse

Not sure if anyonr has idea on the avg production in their management presentation show 12k boe, if obly have 80days also 971k barrel. But oil sold only 471k boe. Means there is 500k boe produced in Q3 not sell... 500k boe >RM200,000,000.
Am I right?

Posted by brian3381 > 2022-05-26 22:15 | Report Abuse

Stripping off exceptional items amounting to RM276.2m which includes RM317.3m arising from negative goodwill and impairment of intangible assets of RM44.9m for its Australian assets, Hibiscus Petroleum (Hibiscus) reported core net profit of RM31.3m (-9.3% YoY, 36.6% QoQ) in 3QFY22, on the back of higher revenue of RM297.1m (+37.5% YoY, 4.5% QoQ)

Posted by brian3381 > 2022-05-26 22:15 |

Post removed.Why?

Posted by curiousq > 2022-05-26 22:20 | Report Abuse

game over?

Posted by kahhoeng > 2022-05-26 23:17 | Report Abuse

So long brent crude oil price is above 100 and hibiscus still below 1.50, there is no harm waiting? At least that's what I'm doing now... When's my 1.70???

Posted by bluebayou > 2022-05-26 23:29 | Report Abuse

coming soon

Posted by moneyster > 2022-05-26 23:34 | Report Abuse

the worse the company, the better the stock price wahahaha

Posted by kevinobc > 2022-05-27 00:33 | Report Abuse

https://www.ctvnews.ca/business/who-controls-the-price-of-crude-oil-1.5918486

Posted by regyhl > 2022-05-27 00:43 | Report Abuse

Hibiscus profitable oil fields in the North Sea, UK will have to pay 25% windfall tax for 12 months. https://www.bbc.com/news/business-60295177

Posted by twynstar > 2022-05-27 01:06 | Report Abuse

Excellent write up by Zhang Zuode !!

Must read !!


Hibiscus 3Q22 Review

https://klse.i3investor.com/blogs/ZZD/2022-05-26-story-h1623448629-Hibiscus_3Q22_Review.jsp

Posted by izoklse > 2022-05-27 02:06 | Report Abuse

Aiyo too many bad news.

UK slaps one-off tax on oil and gas giants to ease the pain of soaring household energy bills

https://www.cnbc.com/2022/05/26/cost-of-living-crisis-uk-slaps-windfall-tax-on-oil-and-gas-giants.html

Posted by ks5S > 2022-05-27 06:03 | Report Abuse

oil price 117. super bull

Posted by ZorosInvestFund > 2022-05-27 09:39 | Report Abuse

remember this is a cyclical stock, the key is to sell at the peak, it's not for long term holding

Posted by rr88 > 2022-05-27 09:44 | Report Abuse

Run lar. Dont be stubborn. It will free fall below recent low of 1.29. It is called "downtrend". I do this for a living. I know lah.

Posted by zhangzuode > 2022-05-27 09:49 | Report Abuse

twynstar - thank you very much.

This would be a knee jerk reaction to (uk) windfall tax and other perceived headwind. Cyclical or not, the oil price is not going anywhere "south" based on fundamental. Studying past records, current high prices should last at least 3 years (or more). Why 3 years (minimum), because it will take that long to increase supply (FID, design, fabricate, install and drill wells) to match demand that is showing no signs of slowing.

Posted by paktua73 > 2022-05-27 10:50 | Report Abuse

paktua back swing here..
done eat at rm1.31..

with profit from serbdk n sapura..
with fund will use here is rm350k..
now already use rm150k
hold 114k unit share on hand..

estimated throw back above rm1.48..


tut tut
back play here

Posted by zhangzuode > 2022-05-27 11:20 | Report Abuse

Again back to fundamental - even the shale oil players are also facing issues: https://oilprice.com/Energy/Crude-Oil/Permian-Frackers-Blame-Supply-Chain-Bottlenecks-For-Stymied-Growth.html

All these are not going to be resolved tomorrow. It all takes time. So oil price will remains elevated.

Posted by hoot9eonly > 2022-05-27 11:43 | Report Abuse

Drop everyone complaint , up that time no one praise also ... lol

Posted by hoot9eonly > 2022-05-27 11:44 | Report Abuse

This flower is red but is good... just share price red few day only. Relaxx

Posted by bu4567 > 2022-05-27 11:44 | Report Abuse

putin said 500 dollars oil

Posted by searchingmoney > 2022-05-27 12:08 | Report Abuse

Tukang goreng mari...

paktua back swing here..
done eat at rm1.31..

with profit from serbdk n sapura..
with fund will use here is rm350k..
now already use rm150k
hold 114k unit share on hand..

estimated throw back above rm1.48..


tut tut
back play here

Posted by newbie8080 > 2022-05-27 12:16 | Report Abuse

The windfall tax would affect around 10% of the earnings from UK.
It's a small gesture to provide cost of living assistance to the British in this difficult times.

Posted by twynstar > 2022-05-27 12:40 | Report Abuse

OPEC+ Unlikely To Boost Oil Production More Than Planned


“We will announce that we are going to increase our production by 432,000 bpd even if we are no longer able to do so,” the source added.


https://oilprice.com/Latest-Energy-News/World-News/OPEC-Unlikely-To-Boost-Oil-Production-More-Than-Planned.html

Posted by pang72 > 2022-05-27 14:16 | Report Abuse

Very interesting now..

Posted by rr88 > 2022-05-27 14:50 | Report Abuse

Told u dy. Run lah. 1.29 will break. Oil coming down. Next stop 1.14.

Posted by akmal222 > 2022-05-27 15:07 | Report Abuse

I saw this morning big volume in... evening everyone run away...sell..sell

Posted by rr88 > 2022-05-27 15:11 | Report Abuse

Hoi pang!
It came straight down to 1.29 n rebounded.
Now when it again hit 1.29 n 1.29 selling n 1.28 done, 1.29 oredy broken lar n it will go lower la. Its called downtrend.

That oso you dont know ka? Go fly kite lar. No need to trade stocks.

Posted by rr88 > 2022-05-27 15:19 | Report Abuse

5 cents drop everyday for the next 3 days to 1.14

Posted by StartOfTheBull > 2022-05-27 15:25 | Report Abuse

Can anyone explain why such a good QR but price terribly falling?

Posted by speakup > 2022-05-27 15:28 | Report Abuse

why said it is good results? looks good only because of negative goodwill. negative goodwill is not operating profit

Posted by speakup > 2022-05-27 15:29 | Report Abuse

results was bad. period!

Posted by StartOfTheBull > 2022-05-27 15:33 | Report Abuse

Oh I see. TQ. I just drop by to ask.

Posted by nicholas99 > 2022-05-27 15:56 | Report Abuse

UK Slaps 25% Windfall Tax on Profits of Oil and Gas Firms
Johnson’s government under pressure to help struggling Britons
The tax will fund aid for families battling with inflation

Posted by paktua73 > 2022-05-27 16:00 | Report Abuse

opps..wrong sent hehe..sepatutnya di sini..

resent back..
yes success reload at rm1.26..
its for 2ndtime..
and final buy in..
now hold 272k unit averge reduce to rm1.28+
now if down more paktua die laa..
theee thee



tut tut
dare to fight or die try..

Posted by moneyster > 2022-05-27 16:05 | Report Abuse

oil laaaa u think nobody want to buy meh

Posted by pang72 > 2022-05-27 16:10 | Report Abuse

Rr88, drop 5c a day..
Sifu said very good mah...
So, I need to dump kah?

Posted by rr88 > 2022-05-27 16:12 | Report Abuse

Hai ya ya. I teach oso still do not understand.

1.44 came down to 1.29 rebounded to 1.40.

Now 1.29 broken you cut loss 1.28. Never buy just after support broken. It will go much lower. Chart says 1.14.

Posted by paktua73 > 2022-05-27 16:15 | Report Abuse

rr88 say sell..
this time paktua buy
hehehe..
if rr88 say buy..
mean time to sell...



tut tut
let dive more..

Posted by VenFx > 2022-05-27 16:19 | Report Abuse

1.30 as expected.
But, is it scary at 1.26 ?

If the answer is not ... guess what will happen next Monday.

Posted by newbie8080 > 2022-05-27 16:20 | Report Abuse

I think many people are getting frustrated with the company's ongoing issues whereby the great assets are not able to translate into great earnings consistently as expected.
There's many great o&g companies out there too eg: Occidental Petroleum Corp, Chevron Corp, Devon Energy Corp, etc

Posted by pang72 > 2022-05-27 16:24 | Report Abuse

Rr88, like that sifu lose a lot of money leh if cut lose