Should add back about 73 mil of back to the net profit if anasuria did offload oil this quarter. Despite so many one off impairment made, its net profit should record 75mil if remove the negative goodwill and add back the anasuria portion

Ah, it deferred to next quarter. Ok, for those who didnt read its qr properly, please sell. I dont mind the price drop more tomorrow, can oick up more

Anasuria didnt sell single drop of oil this quarter, guys. 94%uptime on anasuria, wonder why they unable to offload a cargo

Lol, that guy is sour grape effect la. I guess he must be heart pain as he didnt get in on time

Not funny at all on spreading fake news

Admin cost is because the transition of acquisition of north sabah, all stated in qr and also its investors slides. Worth your tike to read it a bit

Yes, insideR this qr should have 2 cargo for north sabah oil sold

Labuan crude oil is traded around 5-10% premium than brent. More details calculation, refer to teoct's post, no need all these rough calculation

28th no result then it means end of the week.

Ya, i prefer rally after QR not before QR.

Wao, up so fast. Damn, now i am a bit scare now if the qr is not that great

Wc been running way too fast before. That is why mother have more room for up than daughter

https://klse.i3investor.com/blogs/kenangaresearch/171484.jsp

Wow, lowest average i ever see. Haha

https://klse.i3investor.com/blogs/goldentenyears/171359.jsp

Seller of hibiscus at 1.02 detected, haha

@Ezmoni, average at 1.073.Kinda high eh. Before is cheap cheap didnt top up?

@EngineeringProfit, i try to flip back the annual report, long term debt is 532 mil and short term debt of 72 mil. (Sorry, as i study it half year back, and memory kinda loose on it).

By the way, i am not trying to put Reach down to promote hibiscus, as dont see any point doing so.
Each is a individual and operating region is way too different, cost, tax, operating environment etc etc.
(Reach is indeed a potential stock if it can produce as what the CEO said, but it need to show something before it can gain confident from investors).

Ok, have to stop here, as later will get chased away as discuss non-hibiscus stuff here.

Reach is not debt free.......and will spend more money to build its own transfer terminal which will need more money.
Only hibiscus is debt free

lol, reach finally green last for a quarter. The so call brother of hibiscus, but go in deeper , there is a deferred revenue from 1st quarter. So, is it really green? Next quarter only will have the real pic.
Anyway, hope it brings a positive momentum to hibiscus.

Lol, erkongseng promote few months back then i guess he sold afterward. Now come back and promote again.

It ia like a 100 mark student, get mark 99. Get slapped by parents coz didnt do good before

Ya, it makes me worry as all so excited on it. Once the expectation not met then it will slump like crazy

Lol, so many people take profit once it gone up to rm 1.02 above. No wonder price so tough to go up

By the way, hold it long enough so another few days is nothing

Not so sure when QR out, it might be 28th like before or last day of this month 31st.

These are not news, but is the question asked by the investors and they reply it.

Is it useful? up to personnel and how good you can interpret them.
Is it lousy stock? up to the price you bought in.

Making money then it is fantastic stock,losing money (or not making enough money) then it is lousy stock.

one man's meat is another man's poison

No conclusion, all these are for better understanding on Hibiscus current situation and also the data from the financial report.

But i found interesting on this Q&A,

"Anasuria’s GUA-P2 Side Track project entails re-entering side-tracking from an existing wellbore to a sub-surface target in the Forties formation, a known producing horizon in the United Kingdom Continental Shelf. Actual CAPEX investment and realized production rates for this well will be disclosed in next Quarterly Report to be issued upon completion of the project."

The sidetrack well will have high chance of getting oil as it is "known producing horizon", not a totally new zone that may or may not have oil. So the side track well should be fruitful, just the question is how economic on develop it only.

And the cost most likely split between this quarter and also upcoming coming quarter.

This question is funny, the inquirer think he can sell the stock if hibiscus tell him personally that this quarter got disruption in production. lol

Were there any downtime during the period April to June 2018 for Anasuria and North Sabah? What is the average net oil production during the period?

Data pertaining to the operational performance of the assets such as downtime and production rate will be disclosed in the upcoming quarterly results. Unfortunately, the company is unable to disclose this type of information prior to the release of the quarterly results.

10 July 2018

WIs the net entitlement production quoted for North Sabah Operations Performance Summary before or after deducting royalty and profit oil share payment to Petronas?

The entitlement production number quoted is net to Hibiscus Petroleum Group, after deducting royalty and profit oil share payment to PETRONAS.

18 July 2018

Many interesting question been answered in hibiscus FAQ page:

How much capital will be invested into the GUA-P2 side track well? How much production would it add to Anasuria?

Anasuria’s GUA-P2 Side Track project entails re-entering side-tracking from an existing wellbore to a sub-surface target in the Forties formation, a known producing horizon in the United Kingdom Continental Shelf. Actual CAPEX investment and realized production rates for this well will be disclosed in next Quarterly Report to be issued upon completion of the project.

5 July 2018

green and good quarter at last for dayang.

Natu Ral, Sappura issue right issue is to pay debt.
Hibiscus will consider some loan to develop north sabah, which stated in the QR/presentation before

@teoct, not really petroleum engineer but is in O&G industry.

@OrlandoOil, why not? for me it is like r evaluating the value of a land for a property company. The higher the value of the land is, the net asset value should be increase as well. Do correct me if i am wrong.

By the way, i dont think any mishap on coming QR as well.

Just so many people mentioning bad QR, run etc etc.
So i just summarize out what can possibly goes wrong, but with the acquisition of North Sabah, the affects of Anasuria will no longer be a catastrophic as it no longer the major/single income sources for Hibiscus.

So, personally is confident with the upcoming QR just minor concern of the extra cost from the recent sidetrack project, which we do not have a grasp on how much was spent on it.

@teoct, Yes , the recent revaluation will not actually affect the quarter profit for anasuria. It is reevaluated every 2 years based on what i understand, and not just through the recent sidetrack wells but also based on cumulative well performance (well production data and declining rate etc) and also various logging survey to confirm all that.

With this revaluation, it wont boost the production rate all of a sudden, but it means more oil can be extracted from the reservoir and longer well life (aka more dollar made per dollar spent). For the moment, what it affect only its NTA/book value.

By the way, good sharing as usual. And really do welcome you to comment on this forum more. Cheers

looks like market dont react positively on the increase of reserves

@Profitgrow, 1.04 now, lol, have u sold all?

Haha, if you think it will fall back then please feel free to short this stock like the others did.

by the way, try to think deeper.
If it is to prevent the prices fall due to bad QR, then it should be announced after QR.
So people will forget the bad QR, stop the fall and stabilize the price.

So doing the other way round now, might be is to make news to boost the share price and even further boost with good QR.
Haha, maybe i just over thinking

Haha, so true orlandoOIL. But well, nobody knows until it come out and we will know what is the real contribution of north sabah to hibiscus

Long story short, it is like revaluation of assest and now the asset value increase and so thus its book value

Good news, yes, as what suhaila said it means increase in 'probable produce' reserve of anasuria is higher as they control and produce their well good enough where more oil can produced from the rock.

Reservoir contain xx bbl of oil does not means every single drop of it can be produced. It is natural and depends on how good the operator maintain and understand their well. 2P is like a median line for how many oil can be produced which often as best estimate the value of the field/well itself.

Teoct, the research target is actually already count in the increase in production contributed by north Sabah.
But yes, indeed the price been increase so much since and also strengthening of USD/MYR is advantageous to Hibiscus as well.

Profitgrow, as long as the company's value not being fully realized then it is time to continue keep.
Especially with oil price going up, more and more potential for hibiscus.

Imagine if u buy at 40c before and the hibiscus goes to 60c, and you sell. Later on it fly to today rm1, sure u are punching your breast for selling it too early.

As long as company still undervalued and continue growing. then can continue to hold. And especially hibiscus is one of the company that really transparent to us so far.

lol, back to rm 1 again. always get dragged soon pop up

profitgrow, this TP set by those researcher all done when the oil price is about 60-65 usd/bbl range.
Now we are at 70 usd/bbl ++, so all these need to be revised actually.

But well, i doubt actually these researcher always make good prediction on TP though.
Personally, i just take it with a pinch of salt.

Ya, the 1.03 road block is huge

Lol, it can only fly when there is no road block. See when the road block finish his lunch then will start dragging

http://www.klsescreener.com/v2/news/view/421576

looking at this strong drag, rm 1 today dont think can...