@Mrcrab, I need to add weather forecast in my existing BusIntel.I confirm this. 'Agatha forecast to hit Mexico as Category 2 hurricane and enter Gulf Tropical storm is predicted to rapidly intensify and could cross Mexico and become storm threat in Gulf of Mexico later next week'. US oil reserves specifically designed for natural disaster but our friend Biden use it for his personnal war..
Looking back to 2018 when Q3 18 results that was released on 28/5/18, then because the completion of N Sabah deal was 31/3/18, a negative goodwill was recognized without any barrels sold (from NS). That created a price destruction of similar magnitude. And this happened with a reduction of oil price too.
Today, the drop in price happened with a rising oil price, a double whammy. Maybe due to C20 or whatever, the market is really irrational at time. Investors really need nerve of steel. The magnitude of price drop in both cases was around 12%. Also, there was deferment in oil sold (Anasuria in 2018) and N Sabah this time. As they said, history repeats itself.
This guy eps is 15.32 cents yet the price is like unbelievable! I am clueless with whats going on hopefully tomorrow would up another few more percent! :)
Dayang slowly climbing back up. share price been depressed for so long, despite rising oil price. been adding some mother shares. looking at cheap warrant, Dayang C19 warrant also looks very cheap and bargain !!
@GrowthCapitalist ..... the public spread was announced by management itself, where they stated that the top 5 or 10 largest shareholders only hold a small portion, therefore leaving a big portion out there for trading, you can say hibiscus belongs to the people... in Q3 announced 307m profit but this included 317m of negative goodwill, therefore if you strip out -ve goodwill it was actually a loss of 10m but management justified it by saying that 1 offtake was missed in the month, where generally there is about 11 offtakes in a year and therefore there will be one mth where there there will be 1 offtake lacking and this was the mth.... for on of their reservoirs... nevertheless mngt said will make up for this in the 2m boe equivalent sales that will be made in Q4, which only time can tell
@Richard, you said, Quote 'in Q3 announced 307m profit but this included 317m of negative goodwill, therefore if you strip out -ve goodwill it was actually a loss of 10m'. Unquote If Q3 profit MYR307mil already included with -ve goodwill MYR317mil, this means actual profit is MYR620mil. Correct me if I am wrong.
oil prices surge a bit fast. A ideal way is too rise bit by bit to avoid sudden collapse. but it also good to some still waiting to buy Hibiscus at the low price RM 1.02..now you need to rush in to buy, but after buy you trap..
Brent crude futures for July rose above $122 per barrel on Tuesday, hitting its highest since March 9, after EU leaders reached an agreement to ban 90% of Russian crude by the end of 2022, fueling concerns of an even tighter global market. The agreement resolves a deadlock with Hungary over the bloc’s toughest sanction yet on Moscow and would clear the way for other elements of a sixth package, including cutting Russia’s biggest bank from the SWIFT messaging system. However, some analysts suggested that oil price gains may be muted as the move has already been priced in by the markets. Meanwhile, demand from China is expected to pick up after the cities of Beijing and Shanghai eased Covid restrictions, with some reservations about the effect of skyrocketing petrol prices on global consumption. On the production side, OPEC+ is set to stick to its policy of modest output increases at its meeting on Thursday, rejecting western calls for faster production to lower prices.
if brent up to $130, not only shorty but i too will pee in my pant. Getting too scary as eventually everything will go up. Transport charges will increase and thus cause everything up. Hyperinflation coming. Keep cash also die because it get devalue
what i can say to everyone ,dun make urself messy n dun make things complicated. Hibiscus only sell Oil n Gas...no sell other service or product. now world need Oil n Gas ...so simple.dun think too much other .
Once in a blue moon, got stupeeeed fund comes to hand out free money at market close.
They do that on a handful of stocks today like cimb, maxis, maybank etc. And hibiscus is one of them. Lucky you!
When you see these huge volume come to buy few bids above market price between 4.45 and 4.50 pm, you quickly key in way below asking price to make sure you get this free money at 4.50 pm. Bcause the next day price will open gap down to the 4.45 pm last done price.
I hv tasted these free money quite a number of times before. It came out of the blue, without warning, between 4.45 to 4.50 pm.
Perhaps it came out of the blue becuase hibiscus is way too cheap.. If they handed screwed up there off take timing for Q3 the shareprice would be at 1.60+ by now.. So 1.40 looks like a bargain.. And with oil at 120 (130 for hibiscus) it's not going down tomorrow..
So someone now has a acquired a not insignificant position of 2% of hibicus at 1.40.. Will be an interesting few days ahead.. Are they shorting or accumulating..anyway of know who it was?
It is MSCI investment adjustment for the next quarter onwards. And yes, those counter selected are in the one that MSCI focused on and congratulations this includes Hibiscus
Month end window dressing I'm guessing, from 1.35 to 1.40 without gap very unusual.... but then again Brent shot up too, as well as usual vs RM, tripple whammy gain for hibiscus... Brent up, RM down since crude sold in USD, and 2m boe awaiting Q4 sales.
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Posted by kevinobc > 2022-05-30 10:24 | Report Abuse
https://oilprice.com/Energy/Energy-General/Oil-Prices-Rally-Despite-Strong-Dollar.html