Posted by Six6thsense > 2 months ago | Report Abuse

Sabar. Nothing goes wrong.

Posted by NinjaInPyjamas > 2 months ago | Report Abuse

Fundamentals extremely solid, while bringing in a lot ca$$$$h. Hope it doesn't spike too fast. Collect patiently guys

Posted by kahhoeng > 2 months ago | Report Abuse

brent up, armada up 2.7% and.... hibiscus nothing???

Posted by wattsy > 2 months ago | Report Abuse

Wow RM102 million profit on depressed oil prices…

Posted by NESARAJAH1 > 2 months ago | Report Abuse

Wow. Good Quarter

Posted by maps > 2 months ago | Report Abuse

why no limit up

Posted by SincereStock > 2 months ago | Report Abuse

good QR? isn't it worse than previous QR while oil price is better during sep to dec (current QR) than june to sep (previous QR)?

someone please correct me if I am wrong

Posted by Eric Lim > 2 months ago | Report Abuse

yes, you are right, faster sell, i want to collect cheap ticket

Posted by SincereStock > 2 months ago | Report Abuse

@Eric Lim I don't have ticket how to sell lol I am serious with my question doing study here

Posted by kahhoeng > 2 months ago | Report Abuse

And I thought Hibiscus would easily cross 3.00 by now and gradually climb towards 3.50, sigh!

Posted by SincereStock > 2 months ago | Report Abuse

I am a little confused here

first of all I am not an investor or follower of this counter. I had a glance over this counter this 3 months ago during it's previous QR announcement, at that time, I overlooked this counter for not realising there are share consolidation 1 month before the QR announcement, due to that at that time I am misjudging the counter to be overvalued (misjudging it's price at 2.5x higher value). it should have been a fairly good QR otherwise. but then price dropped from 2.6 to 2.3 since there.

today it's price back to 2.6 price level, this afternoon, by reading it's just announced QR I just realise the share consolidation taken place due to it's adjusted NTA. considering to buy some this time, but then also realising it's QR is actually not as good as the previous one at the similar price level. so I hesitated and didn't make any move

Posted by SincereStock > 2 months ago | Report Abuse

hope someone can kindly give me some good insights for enlightment here~ thank you

Posted by SincereStock > 2 months ago | Report Abuse

by the way, I also realise that half it's NTA is made up by intangible assets

Posted by Six6thsense > 2 months ago | Report Abuse

Boring. Continue to hold and go sleep for another 3 months

Posted by kahhoeng > 2 months ago | Report Abuse

Hibiscus market cap is currently valued at 2.13 billion. It's reporting a net profit of 256 million in the first 6 months of FY24, generating a healthy operating cash flow of 560 million. At current crude oil and natural gas prices, it's looking to make at least 450 million FY24, i.e., Hibiscus is trading at 4.7 PE. Even though they are of different sectors within the oil and gas sector, just compare its earning, market cap with Hengyuan, Petron, and PetDag.

Posted by wattsy > 2 months ago | Report Abuse

Not forgetting the RM892 million they have in the bank as unrestricted cash.. Yes this quarter was down which was expected as oil prices retreated alot however they still made RM100million + on increased production of 22 million barrels oil equivalent a day. The present quarter will also be excellent - 120mill+ I beleive. Share buy back is Progresso g although still not as agrees ive as they could/should be. The have also covered significant capital works during the quarter with the drilling of a number of wells wjichbhave increased production in Sabah and are not yet completed. Oils set to increase again on supply concerns and the outlook for Hibby is excellent..

Posted by NinjaInPyjamas > 2 months ago | Report Abuse

Ignore oilprice. Focus on production and cashflow. High interest rates and lower end oil price is good for supply. Pray for a mild recession would be a bonus!

Posted by Apple4Oranges > 2 months ago | Report Abuse

Oil price has been sustaining at US 78 - 80 per barrel there and it is quite stable

Posted by kahhoeng > 2 months ago | Report Abuse

wordless... oil up, hibiscus not moving, oil down, hibiscus down

Posted by witan > 2 months ago | Report Abuse

Well the share buyback announced by the company has been sporadic with no direction. When the share price shoot up, they buy it at high price 2.65 but when the price drop they stop buying ???

Posted by kahhoeng > 2 months ago | Report Abuse

no money for buyback lah... all into oilfield development

Posted by Apple4Oranges > 2 months ago | Report Abuse

Hibiscus will continue to grow then

Posted by Apple4Oranges > 2 months ago | Report Abuse

Very volatile this oil market ..

https://www.reuters.com/business/energy/oil-prices-ease-us-crude-stock-build-fuels-demand-fears-2024-02-29/

Posted by kahhoeng > 2 months ago | Report Abuse

at curent brent price, Hibiscus is at least making 400-450 million every year, making Hibiscus a company with PE less than 5.2???

Posted by mamakspecial > 2 months ago | Report Abuse

You think the red sea attack will stop? israel and palestine has been at war for decades..you think israel can erdicate hamas that easily..hamas is an idea..not a group of radicals ..you cant destroy an idea..unless israel kills all palestian..there will always be another hamas to fight israel ..israel is a thorn in the middle east..at least at the eyes of the arabic world..their common enemy is israel even though arab countries are not united..its because of USA..arab world just let israel be..so houthi will continue to shoot ships that sail that red sea strip cos usa and uk has alr attacked them..so now its houthi agenda is not just palestine ...they are also at war with usa and uk too with iran strongly backing them..things wont go back to normal..oil price and freight charges will remain high..unless opec and usa both of them ramp up the production non stop..but opec wont allow that..

Posted by Six6thsense > 2 months ago | Report Abuse

Boss behind pattern more than badminton

Posted by Sangranghaeyo > 2 months ago | Report Abuse

Long war on the red sea without a doubt...unless Israel promise to cease fire and admit Gaza is a country. Ha

Posted by EngineeringProfit > 2 months ago | Report Abuse

South Furious Merah exploration well.

Posted by wattsy > 2 months ago | Report Abuse

Who's dumping hibiscus.. There's been quite a sell off of shares the last few trading sessions .. Don't quite get it as fundamentals are outstanding.. Wish Hibby would buy more shares and support longer term shareholders positions. .

Posted by kahhoeng > 2 months ago | Report Abuse

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3427300

Reference is made to a disclosure made on 22 November 2023 (and further updated on 20 February 2024) in respect of an exploration drilling campaign (“campaign”) conducted by our indirect wholly owned subsidiary SEA Hibiscus Sdn Bhd (“SEA-H”). The campaign comprised a drilling program to drill 3 exploration wells, namely South Furious Ungu, South Furious Ungu ST and South Furious Merah to evaluate prospective Near Field exploration locations within the boundaries of the 2011 North Sabah Enhanced Oil Recovery Production Sharing Contract (“2011 PSC”).

The campaign initially kicked off at the South Furious Ungu well location on 29 October 2023 and later moved to the South Furious Merah location on 19 January 2024 after drilling the South Furious Ungu ST well. Whilst the drilling rig is still on location, it is expected to be released as soon as work is completed at the South Furious Merah site soon.

South Furious Ungu Well and South Furious Ungu ST Well

At the Ungu Prospect location, several samples of gas and one sample of oil were recovered. Subsequent laboratory analysis of the samples confirmed these preliminary findings. All the data collected through drilling operations at the Ungu Prospect location are currently being reviewed and after a more detailed interpretation will be developed to inform the relevant parties of the proposed next steps.

South Furious Merah Well

At the Merah drill location, evaluation and sampling efforts recovered one sample of gas. This sample has been sent for further laboratory analysis. Even though a sample of gas was recovered and brought to surface, our preliminary assessment is that hydrocarbon volumes seen in this well may not achieve commercially viable economic thresholds.


Rig: Next Steps

The Petro Vietnam-III drilling rig will soon be released for further drilling activity in Peninsula Malaysia with Hibiscus Malaysia Oil and Gas Limited.

Costs

Capital costs (net of tax to SEA-H) estimated for the Ungu wells are expected to be in the range RM54 million whilst capital cost estimates for the Merah well are expected to be in the range RM27 million. At this stage, we expect to write off the capital cost estimates of RM27 million for the Merah well in the Group’s financial statements for the quarter ending 31 March 2024. The treatment of the costs of the Ungu well in the financial statements will be ascertained upon confirming the final results from the Ungu well, and will be announced at the appropriate time. All capital costs were funded from internal resources and the costs associated with the campaign have been included in the SEA-H cost recovery bank.

All other operations are progressing smoothly.

This announcement is dated 1 March 2024.

Posted by kahhoeng > 2 months ago | Report Abuse

some knew about the Merah Well negative news few days back

Posted by EngineeringProfit > 2 months ago | Report Abuse

Finally the bad news is out. And sharks can recollect the ticket cheaply, as hib SBB. Cheers! I'm back

Posted by Six6thsense > 2 months ago | Report Abuse

Aji Azor announcement. So peanut

Posted by kahhoeng > 2 months ago | Report Abuse

pray ungu well bringing good news soon...

Posted by ZoeZoe > 2 months ago | Report Abuse

wow hibiscus is holding strong! probably all projected in!

Posted by witan > 2 months ago | Report Abuse

WTI $80 and hibiscus is still rm2.55 what is wrong lol

Posted by Six6thsense > 2 months ago | Report Abuse

No worry. Its exponential formula with $80

Posted by Six6thsense > 2 months ago | Report Abuse

Drop more pls to wash out more volume

Posted by Sangranghaeyo > 2 months ago | Report Abuse

Massive foreign sell recently... I think got chance to grab it below Rm2.50

Posted by Apple4Oranges > 2 months ago | Report Abuse

Then we will see the company buy back the shares again, ha

Posted by ZoeZoe > 2 months ago | Report Abuse

how will this 27 million write off effect the overall performance? nothing much has been said about it! will it reflect on the next few QR? after all Hibiscus will need to absorb the cost !

Posted by kahhoeng > 2 months ago | Report Abuse

I think there's more to cost of drilling but the asset which is the oilfield bought but not producing oil or gas. The management has failed to disclose sufficient for all shareholders that are clueless to this business. There have been selling before the announcement, I supposed some in the know are already benefiting from this, whether to buy back at lower price or to sell in advance.

Posted by Sangranghaeyo > 2 months ago | Report Abuse

Let's see if it will continue dropping tmr or not, then try to pick up some. Hehe

Posted by Sangranghaeyo > 2 months ago | Report Abuse

u r right, Apple4Oranges. The company buys back shares again 😆

https://klse.i3investor.com/web/insider/company/detail/I_77446_2539370998

Posted by witan > 2 months ago | Report Abuse

This counter is at the mercy of the operator. WTI and Brent is near all time high for this year and yet Hibiscus doesn't reflect that

Posted by Six6thsense > 2 months ago | Report Abuse

Wait till flower also wilt. See who last longer

Posted by Six6thsense > 2 months ago | Report Abuse

What a good stress test

Posted by ZoeZoe > 2 months ago | Report Abuse

basically Hibiscus is building a base at 2.48-2.50...... so if you can get anything below 2.50, you will be able to make money during the CRUDE upcycle, otherwise if you are holding 2.70 better average down!

Posted by Income > 1 month ago | Report Abuse

I humbly tell you… How to make money fast…
1. Become a rideshare driver. ...
2. Make deliveries. ...
3. Help others with simple, everyday tasks....
4. Pet sit. ...
5. Sell clothes and accessories online....

Posted by Apple4Oranges > 1 month ago | Report Abuse

See how many bullets Hibiscus has left to do the share buyback again 😁