The profit for second quarter will sure be less than first quarter (one time extra ordinary gain of RM80,283) but it will sure be more than last financial year second quarter of -RM164,166. Seven more market days to go assuming the result is announced on 28 Feb 2017.

B4B4's estimated calculation based on 3400 barrels of oil sold daily is revenue about RM64m and net profit is about RM40 m. I think is 'hold' as the net profit in May 2017 will very much more because it takes into consideration of oil price of USD55+.

The U.S. Energy Information Administration said in its weekly report that crude oil inventories rose by 9.5 million barrels in the week ended February 10.

The report also showed that gasoline inventories increased by 2.8 million barrels.

Supplies at Cushing, Oklahoma, the key delivery point for Nymex crude, decreased by 702,000 barrels last week.

1 hour before the release of EIA report at 11:30 pm, Brent oil price remains trapped between USD55.60 to USD55.70.

Oil prices could only go up if and only if there is a decline in gasoline stockpile in tonight's EIA report at 11:30 pm.

After Yellen's testimony, USD index going up and oil prices pare gain.

Current oil prices at 10:00 pm
Brent Oil 56.27 +0.68 +1.22%
Crude Oil 53.55 +0.62

Oil prices rising due to falling USD index dropping. But after API report tomorrow at 6.30 am, don't know it can maintain or not?

Tomorrow Tuesday will likely test RM0.52.

!2:18 pm oil prices:
Brent Oil 55.55 -1.15 -2.03%
Crude Oil 52.87 -0.99 -1.84%

OPEC report will be delayed by 1 hour to 8:05 pm.

OPEC report out at 7 pm.

Brent Oil 55.38 +0.33

Brent oil rebounded strongly.

https://www.investing.com/news/commodities-news/wti-oil-futures-extend-losses-after-surge-in-crude-inventories-458694

WTI oil futures extend losses after surge in crude inventories.

The U.S. Energy Information Administration said in its weekly report that crude oil inventories jumped by 13.830 million barrels in the week ended February 3. Market analysts' had expected a crude-stock build of only 2.529 million barrels, though the American Petroleum Institute late Tuesday reported a supply surge of 14.227 million barrels, the second largest in its history.

Is EIA stockpile more than 14.2 million barrels tonight at 12:00 midnight?

Sold and taken profit. Cannot stand US winning over OPEC and cause oil prices crash.

https://www.investing.com/news/commodities-news/oil-lower-ahead-of-u.s.-stockpile-data-458420

Oil lower ahead of U.S. stockpile data.

Last minute buyers pull out 5000,00 shares. Got to close half a sen lower at RM0.535. Tomorrow T + 3 of last Friday's surge and Brent oil unchanged at USD55.72. Next Monday 13 Feb 2017 OPEC will release its monthly report. Maybe got some catalyst in the report.

https://www.investing.com/news/commodities-news/oil-slips-as-u.s.-iran-tensions-weighed-against-u.s.-rig-count-458165

Oil slips as U.S.-Iran tensions weighed against U.S. rig count.

Kakashi: Still holding Hibiscus. Sumatec none.

Aiyah! Close at only 0.54. Tomorrow T + 3 of last Thursday surge.

Aiyoo! Brent oil is now going down.

Brent Oil 56.78 -0.03 -0.05%

It's 4 pm already. Last time 13 Jan 2017, it crashed. This time how? Next Monday got Opec monthly report.

Now 0.545/0.550. Hope it won't suddenly crash down. Please Hibiscus up, up, up and away.

The highest price on 13 Dec 2013 was RM2.74. It dropped from the high of RM2.74 to a low of RM0.195 on 10/10/2016. The price of Hibiscus rebounded from the low of 0.195 to the present closing price of RM0.53 on 03 Feb 2017. The downside risk is very low now, I believe the price will continue to rebound and move up north in next few months. The immediate target price based on technical chart is RM0.60.

This Feb 2017 net profit may not be that significant because it is for Oct, Nov and Dec 2016 (only Dec 2016 oil price exceed USD50). But the May 2017 net profit will be significant because it is for Jan, Feb and Mac 2017 (where oil price reach USD55). Keep longer.

https://www.investing.com/news/forex-news/cftc:-speculators-less-bearish-on-euro,-yen;-crude-oil-net-longs-at-all-time-high-457914

Crude Oil Net Longs at All-Time High.

http://klse.i3investor.com/blogs/PublicInvest/113343.jsp

We are also positive on a further upside boost of an additional RM0.55 with the potential acquisition of the North Sabah asset. The total fair value of Hibiscus would therefore be RM1.15 if the acquisition is successful, pending approvals from Petronas.

My Miss Universe Oil and Gas share Hibiscus, please retest RM0.55 next Monday and do not crash after striking RM0.55 but move towards RM0.60.

Brent oil closed at USD56.80 and DJIA closed at (Dow 30 20,071.46 +186.55).

https://www.investing.com/news/commodities-news/crude-prices-gain-in-u.s.-on-fresh-sanctions-on-iran-by-washington-457899

Crude prices gain in U.S. on fresh sanctions on Iran by Washington.

Very very good news.

https://www.investing.com/economic-calendar/baker-hughes-u.s.-rig-count-1652

Rig count: US +17 to 583 from 566

https://www.investing.com/news/economy-news/weak-spots-in-jobs-report-pushes-down-odds-of-fed-rate-hike-457806

Weak spots in jobs report pushes down odds of Fed rate hike. US dollar index goes down. So oil prices got chance to go up.

Can oil prices stand the expected rise in oil rig count?

Oil prices were boosted after U.S. President Donald Trump suggested the possibility of imposing new sanctions on multiple Iranian entities, seeking to increase pressure on Tehran.

The warning came after a ballistic missile test was carried out by Iran.

U.S. oil moved higher on Friday, after the U.S. administration threatened to impose new sanctions on Iran following a missile test by Tehran, fueling concerns over fresh geopolitical tensions between the two countries.

https://www.investing.com/news/commodities-news/crude-prices-move-higher-on-geopolitical-tensions-457736

Crude prices move higher on geopolitical tensions.

But looks quite difficult because tonight at 2:00 midnight got rig count report and it will affect oil prices.

Got show means Hibiscus wakes up and actively going up.

Dear Franklim, 25 Feb 2017 is a Saturday. I think it will be released on 28 Feb 2017.

Brent Oil 56.42 -0.38 -0.67%

Brent oil dropping sharply now at 11:45 pm.

https://www.investing.com/news/commodities-news/oil-prices-rise-to-1-month-high-amid-optimism-over-global-supply-cuts-457473

Oil prices rise to 1-month high amid optimism over global supply cuts.

https://www.investing.com/news/commodities-news/oil-higher-as-opec-cuts-hold-sway-over-u.s.-stockpile-build-up-457445

Oil higher as OPEC cuts hold sway over U.S. stockpile build-up.

https://www.rt.com/business/376026-iran-oil-prices-trump/

Oil prices jump as Trump administration puts Iran 'on notice'.

57.03 +0.23 +0.40%

Brent oil breaks USD57.00

Managed to close at RM0.505. Brent oil now at USD56.78. Oil rigs count is expected to increase further. See how.

Wow! Brent oil recovers again to USD56.87. Wait for what? Quickly grab Hibiscus.

https://www.investing.com/news/stock-market-news/shares-in-asia-weaker-as-trump-tensions-weigh-457346

Overnight, U.S. National Security Adviser Michael Flynn said late Wednesday the White House has put Iran "on notice" over the missile test, raising concerns over steps that the U.S. may take. Later, Trump tweeted that Iran has usurped power in neighboring Iraq.

Sanction on Iran will make oil prices spike.

Those sharks bought at 0.465/0.470 sell for quick profit.

Aiyoo! Hibiscus down from 0.49 to only 0.475 now.

New sanction on Iran (as mentioned in Donald Trump's campaign) will make oil prices fly.

https://www.investing.com/news/commodities-news/crude-on-edge-in-asia-as-tensions-rise-over-iran-missile-test-457325

Crude on edge in Asia as tensions rise over Iran missile test.