Posted by hoot9e996 > 2022-06-24 17:12 | Report Abuse

what happened? oil price didnt crash that bad still above 100. why drop like this so fast?

Posted by Raymond Tiruchelvam > 2022-06-24 17:29 | Report Abuse

div exdate price just few days back at 1.07 and after 3c div....... its down to 90c.... truly unexplainable, as crude stayed about the same... is there something about the repsol acquisition that we are not aware off?

Posted by treasurehunt > 2022-06-24 17:34 | Report Abuse

Similar question asked by the shareholders in Petronm and Hy lor...Why share prices crash while cracked spread remains at high level?

Posted by derrtan > 2022-06-24 18:14 | Report Abuse

either is foreign fund exit malaysia as interest rate hike or probably some fund manager hit the margin call..BUT mark my word.. next week strong rebound..as their own director bought a lot on 22 and 23th..they remain confidence on this counter!!

Posted by paktua73 > 2022-06-24 18:39 | Report Abuse

today paktua manage grab some at rm0.905
and will use all fund at rm0.88
if down paktua will hold..



tut tut
bunga raya paktua pernah hold abit long..
and hold when price down till rm0.40
now not scared..

Posted by treasurehunt > 2022-06-24 19:33 | Report Abuse

It depends shareholders structure of the company also. If many retailers bought their shares with margin then they would be very worried of FED hiking interest rates and trimming their position to reduce the exposure then trigger downward spiral effect.

Posted by rattynz > 2022-06-24 19:36 | Report Abuse

Datuk Micheal back in with 20 million shares... Another whole of the business..Lapping up what all you panic trades and short sellers don't want from what the fear mongerers have been sowing..maybe FY Q4 is exceptional...

Posted by rattynz > 2022-06-24 19:37 | Report Abuse

Whole percent.. I meant ;)

Posted by Understand > 2022-06-24 19:59 | Report Abuse

Rm0.50 cent is coming.

Posted by birdparadise > 2022-06-24 20:04 |

Post removed.Why?

Posted by nazrzach > 2022-06-24 21:03 | Report Abuse

From today onwards till next week, crude oil prices will rise again amid;
1. US crude oil inventory will need replenish and running low around 1.8mil bbl.
2. An emergency meeting on Thursday (today EST) between major US oil refiners e.g. Shell, ExxonMobil, Chevron CEOs and Energy Secretary Jennifer Granholm also failed to produce concrete solutions to reduce oil prices, but the two sides agreed to work together.
Granholm conceded that high crude oil prices was caused by US Government decision to clean energy transition and;
Biden admitted the effect of Ukraine - Russia conflict adding further to higher crude oil prices.
FYI.
Ps crude oil price should already rise by now.

Posted by nazrzach > 2022-06-24 21:15 | Report Abuse

Breaking News
Argentina President requests to become a member of BRICS for his country.

Yeayyy
The more the merrier!!

Posted by Knm_bottomed > 2022-06-24 22:27 | Report Abuse

Futures up, oil down. 50sen coming

Posted by birdparadise > 2022-06-24 23:21 |

Post removed.Why?

Posted by Understand > 2022-06-25 00:01 | Report Abuse

Rm0.50 sen is coming

Posted by nazrzach > 2022-06-25 01:19 | Report Abuse

U.S. oil rose by more than $3 a barrel on Friday supported by tight supply.
Low crude oil inventory week.

CYPARK is now at 45sen.

Posted by linheng > 2022-06-25 05:25 | Report Abuse

today paktua manage grab some at rm0.905
and will use all fund at rm0.88
if down paktua will hold..
HAHA. SAME HERE. PUT IN 40% OF FUNDS AT 90.5 CENTS. WILL BE ALL IN IF DROP TO 88 CENTS. LONG UKRAINE WAR. NO WAY OIL IS DROPING BELOW USD$100 THIS YEAR.

Posted by linheng > 2022-06-25 05:28 | Report Abuse

EPS is 15.32 cents for latest quarter. NTA is 93 cents. This does not take into consideration the coming Repsol oil

Posted by linheng > 2022-06-25 05:31 | Report Abuse

Probably the sell down exuberated by the negative good will that is accounted for. Remember that the expenses went up 5X. There is considerable cost involve in this acquisition because it involves 2 countries . Its a producing asset. Contribution from this asset would be substantial. Oil price is USD. Ringgit down would be another PLUS

Posted by bullmarket1628 > 2022-06-25 07:13 |

Post removed.Why?

Posted by williamtkb > 2022-06-25 07:45 | Report Abuse

Wao... Back to above rm1???

Posted by BobAxelrod > 2022-06-25 08:30 | Report Abuse

Looks like rr888 might be in trouble shorting and calling for 55c...hehehehe

Posted by birdparadise > 2022-06-25 09:05 |

Post removed.Why?

Posted by VTrade > 2022-06-25 09:59 | Report Abuse

Ape strategy yang boleh pakai pada zaman ini ?

Posted by rattynz > 2022-06-25 10:31 | Report Abuse

https://oilprice.com/Energy/Energy-General/Oil-Prices-Bounce-As-EIA-Fails-To-Publish-Inventory-Data.html

Interesting thing for me is that Gas prices in Asia have been under upward pressure as Europe scrambles to replace russian supply. 30% of Hibiscus assets production now gas..

Posted by VTrade > 2022-06-25 11:15 | Report Abuse

Good info ratttynz

Posted by twynstar > 2022-06-25 14:40 | Report Abuse

Roadway Congestion Returns To China, Signals Tighter Global Oil Supplies


Vitol Group Chief Executive Officer Russell Hardy told the audience Tuesday at the Qatar Economic Forum that China's increasing fuel demand in an already tight global market means prices won't drop that much.


Hardy's similarly bullish message was echoed by Exxon Mobil CEO who said this week that global oil markets may remain tight for another three to five years largely because of a lack of investment since the pandemic began.


https://www.zerohedge.com/markets/roadway-congestion-returns-china-signals-tighter-global-oil-supplies

Posted by colin888 > 2022-06-25 15:14 | Report Abuse

Should close Green on Monday

Posted by VTrade > 2022-06-25 17:04 | Report Abuse

Berapa % boleh naik ?

Posted by BobAxelrod > 2022-06-25 17:08 |

Post removed.Why?

Posted by nazrzach > 2022-06-25 21:22 | Report Abuse

@rattynz,
Thanks for your info. There is only 1.9milbbl left a week before. WTI oil also rising extraordinarily and closing the gap on Brent oil which means refineries drawing a lot of crude oil from their inventory.
New US regulation halts new oil drilling in Permian Basin.
There are 7 initiatives to lower gasoline price in US. 3 of them made no progress. US Energy Secretary conceded current gasoline price hike due to Biden hastily Green energy transition and Ukraine War.
The other 4 initiatives may take a least one year to see bear fruits.

Posted by nazrzach > 2022-06-25 21:26 | Report Abuse

Datuk Dr Michael gave us his signal. But we will wait. I will reveal what to do Monday Morning.

Posted by linheng > 2022-06-26 01:50 | Report Abuse

Ya. Datuk Micheal Tang keep buying. This guy is great. Was involve in Tropicca and the price shoot up. Then went into QSR Brands and the price shoot up too. Was involved in the injection of Mid Valley Megamall into KRIS Components. Share price shoot up also. Now is involved in Omesti. Price at 4 week high. No surprise if he used SPAC to swallow Hibiscus. Recent shakeout suits him. He was the youngest partner in Law Firm Shearn D

Posted by nazrzach > 2022-06-26 11:57 | Report Abuse

You all might want to look at this.
Click link below.
https://www.linkedin.com/posts/nazrin-zakaria-1542599b_oilandgas-energy-invest-activity-6946663441533173760-eppG?utm_source=linkedin_share&utm_medium=android_app

Posted by nazrzach > 2022-06-26 11:58 | Report Abuse

@linheng,
Thank you for sharing this info with us. We appreciate this.

Posted by rattynz > 2022-06-26 12:20 | Report Abuse

The other interesting this is that all of Hibiscus's oil production in Malaysia is Malaysian Tapis or equivalent. These are the best grades in the world with the lightest APi (gravity) and extremely low in Sulphur which requiring far less refining, ideal for producing high quality fuels, and as such it's priced differently. So while Brent dropped as low as 102 last week, Tapis only went down to 118 a barrel, and it's also on its way back up again. Perhaps with refineries under pressure to meet northern hemisphere fuel demand it will head up even more..
https://rentar.com/best-crude-oil-world-crude-oils-better-others/

Posted by twynstar > 2022-06-26 12:30 | Report Abuse

1) Hibiscus closing price on 24/6/22 was RM 0.905 (market cap RM1.8b)

2) For Q4FY2022, hibiscus plans to sell 2,076,751 boe of oil and gas, with estimated revenue of at least RM800m and net profit of RM150m-200m. By the end of 31/03/2022, hibiscus had unrestricted cash of RM273m. It is safe to estimate hibiscus will has unrestricted cash of RM400m by 30/06/2022

3) For FY2023, Maybank estimates hibiscus will generate EBITDA of RM1,482m and Hong Leong estimates hibiscus will generate EBITDA of RM1,463m

4) EV = Enterprise Value = Market cap + Total debts - cash
For FY2023, EV / EBITDA = ( 1800m + 0 - 400m ) / 1463 = 0.957

5) The largest shareholder, Datuk Micheal Tang bought total of 10,792,100 shares in between 18/02/2022 - 14/03/2022, with share price at least RM 1.10. He bought another 20,000,000 shares in between 22/06/2022-23/06/2022

As a value investor, can you miss a chance to invest in a company with excellent management team, zero debt, low cost producer ( average OPEX less than USD 20/boe) , potential of growth ( Teal West Project, Marigold Project, unlock 2C resource of North Sabah, acquisition of another valuable oilfield) and extremely low EV/EBITDA ( deeply undervalued). Datuk Micheal Tang doesn't think so

FYI, the average EV/EBITDA of Oil and Gas (production and Exploration) of United states for January 2022 is 8.28

Posted by PSAi3alert > 2022-06-26 12:46 | Report Abuse

twynstar,

Michael's shareholding was already 180M shares as at March 2021.

The block of 138.9M shares were acquired at less than 0.20 per share


Changes in Sub. S-hldr's Int : DATUK MICHAEL TANG VEE MUN

12 Jul 2016
138,900,000
Acquired via placement by Polo Investments Limited

8 March 2021
41,041,666
Conversion of Islamic Convertible Redeemable Preference Shares ("CRPS") by Mettiz Capital Sdn Bhd


Sources:
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=2686624
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3137758

.

Posted by Mixologist > 2022-06-26 13:04 | Report Abuse

Largest shareholder buys shares as prices fall dramatically. We have seen this pattern before in other counters.

Posted by Raymond Tiruchelvam > 2022-06-26 13:27 | Report Abuse

twynstar thx for the write up.... its the "other expenses" in the last QR that was left undefined that is causing concern... if they report a 150m or so other expenses.... then the profits are wiped out

Posted by zhangzuode > 2022-06-26 13:29 | Report Abuse

PSAi3alert - you point is ....

Posted by zhangzuode > 2022-06-26 13:34 | Report Abuse

twynstar - thank you.

Posted by twynstar > 2022-06-26 14:26 | Report Abuse

@Raymond

Please read the excellent write up by zhangzuode on 26/05/2022

He might clear up your concern.





Hibiscus 3Q22 Review

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

Posted by PSAi3alert > 2022-06-26 14:42 | Report Abuse

zhangzuode,

I was referring to twynstar's point (5) that stated Michael purchased about 30M shares at an average price of around 0.98 in Feb, March and late June.

A substantial shareholder who continues to purchase big blocks is the one of the optics that are being presented.

My point is that Michael already has a block of 180M shares as at March 2021 purchased at an average costs of about 0.28 or so.

Despite the large purchases on the 22nd (15M) and 23rd (5M) June, prices continue to decline.

IDSS and PDT over the past few days have not been significant.

Big blocks are being dumped.


24/06/2022
Total Volume: 69,363,000
IDSS Value: 3,371,642
IDSS Volume: 3,687,700
PDT Value: 45,750
PDT Volume: 50,000

23/06/2022
Total Volume: 96,218,000
IDSS Value: 2,320,222
IDSS Volume: 2.452,300
PDT Value: 575,500
PDT Volume: 600,000

22/06/2022
Total Volume: 59,652,000
IDSS Value: 2,594,419
IDSS Volume: 2,545,200
PDT Value: 220,872
PDT Volume: 214,300

21/06/2022
Total Volume: 47,006,000
IDSS Value: 2,194,774
IDSS Volume: 2,062,000
PDT Value: 377,500
PDT Volume: 350,000

20/06/2022
Total Volume: 56,655,000
IDSS Value: 6,255,784
IDSS Volume: 6,054,800
PDT Value: 1,235,565
PDT Volume: 1,206,500

17/06/2022
Total Volume: 90,159,000
RSS Value: 31,828
RSS Volume: 29,200
IDSS Value: 1,409,498
IDSS Volume: 1,286,300
PDT Value: 1,150,236
PDT Volume: 1,055,000

.

Posted by nazrzach > 2022-06-26 15:05 | Report Abuse

Guys, (BobAxelRod, PSAi, twynstar, ratynn, zhangzuedoe)
I hope you all dont mind use your findings for my LinkedIn posts yea?
Thanking you in Advance.
Silence in Approval

Ps My LinkedIn can reach global audience.

Posted by rattynz > 2022-06-26 15:19 | Report Abuse

Well if Dtk Michael bought his initial shareholding at 50 Million as you suggest.. He just invested over 18 million to up his shareholding by only 11%.. Why would you do that if you think it's still heading down. Why would the largest shareholder in Hibiscus head back for even more and a significantly higher price if he doesn't beleive in the business and significantly higher future upside. His cost average has climbed.. I suspect he also knows that big dividends are also coming which will cover off his ongoing investment. If he wasn't supremely confident in the future of the business he could have offloaded his shares at 1.50 and he'd have netted RM100+ million.. Instead he's taken a 100 million+ hit and gone in for more...what does that say?...

Posted by zhangzuode > 2022-06-26 15:52 | Report Abuse

PSAi3alert - thank you for the elaboration. Still, what is the point that you wanted to make? Perhaps this is what you meant: that the additional purchases by Datuk Michael is a drop in the ocean and matters little?
OR,
as per rattynz explanation, that he is showing faith in the company, even averaging up?

Generally, it is a positive sign when a major shareholder buys into a bear market, and, for me, it is a positive sign.

But, I take note of the huge amount of shares traded over those days you stated.

Posted by zhangzuode > 2022-06-26 16:08 | Report Abuse

Furthermore, highly likely that a 1.5 sen dividend will be declare this coming August when 4QFY22 is announced given the good cash flow. This will gives a 1.6% yield (assume average price for latest purchase is RM 0.95/share). Not bad for less than three-month holding with capital appreciation too.

Posted by rattynz > 2022-06-26 16:34 | Report Abuse

Does anyone know what the average position cost price is at present?

Posted by rattynz > 2022-06-26 16:38 | Report Abuse

Just to correct earlier.. Dtk M would've netted around 223 million if he'd got out at 1.51. Instead hes taken a 110 million bath and thrown another 18 Million in for good measure..