wao, thought will be volatile after the last friday announcement.
Either up gao gao or pressed down gao gao.
Lol, never really expect so quiet entire day and like being forgotten at a corner. Not even on active list today

Ya, so what i wanna confirm is that this is our prediction not some 'official' answer from hibiscus. This is what matters

Oozie, but this one didnt mention north sabah revenue will start recorded in Q2. I means the one off revenue from 2017 jan

Hohoho123, not sure will up or down. Maybe operator wanna push down to collect more warrants?
But for sure will be quite volatile till end of march

@blowout, can share the news on hibisucs mention that the Q2 will combine sabah and anasuria?

Sorry, typo, 9000 bbl*

Magis, i believe is after acquisition of north sabah then they will focus on them but not furtherr acquisition and merger till end of the year. And they expect oil production range from 8000 to 90000 bbl, so this is about 2 fold anasuria prodcution (around 3000 bbl).
So why it is contradicting?

Thanks oreo oreo, i3mobile apps really need to improve. Lol.
Ok, so it is rm 1. Any warrant expert can give opinion on theeffect on price? Good or no good?

mostly unlikely, since market mood is pretty bad now. (Dow jones down for 3 days straight)
And everybody still looking at hibiscus warrant price and sabah EOR. Most retail investors dont like to trade with uncertainties.
So most likely yoyo around this stage i guess till some news come out (warrant or sabah eor).

Anyway, dont bother too much on short term price fluctuation.
Just hold and continue do whatever you wan to do.

anyway, i am not a TA trader. So i just observe for fun, lol.

This is something i found on their website:
hope it helps for those asking about the warrant price and date

The exercise price of the Warrants 2018/2021 will be determined and announced by the Board after obtaining the relevant approvals (as set out in Section 8 of the Company’s circular to shareholders dated 13 February 2018 (“Circular”)) but before the Entitlement Date. The exercise price of the Warrants 2018/2021 will be determined and fixed accordingly after taking into consideration, amongst others, the following:

(i) the historical volatility of the underlying Shares;

(ii) the prevailing market conditions;

(iii) the potential earnings of the Group; and

(iv) that the Warrants 2018/2021 are exercisable at any time from the date of issue of the Warrants 2018/2021 up to the end of the tenure.

In connection thereto, an Extraordinary General Meeting (“EGM”) will be held at The Summit 1, Level M1 @ The Vertical, Connexion Conference & Event Centre, No. 8, Jalan Kerinchi, Bangsar South City, 59200 Kuala Lumpur on Thursday, 1 March 2018 at 10.30 a.m. for depositors whose name appear on the General Meeting Record of Depositors as at 20 February 2018 to vote on the ordinary resolution for the Proposed Free Warrants Issue (as defined in the Circular).

In the event that the ordinary resolution for the Proposed Free Warrants Issue is approved, we would advise shareholders to take note of the Company’s subsequent announcements on the fixing of the exercise price of the Warrants 2018/2021 and Entitlement Date following the EGM.

to donate money to broker. hahaha.
I am kidding, no idea on what they are doing but for sure some party is playing there.
Coz can see most of the trades today are like bullets, one shot 100 by 100 lots in split second.

hibiscus volume is so low today.
But trades goes in 1000 lots by 1000 lots. Not sure is left hand to right hand or not

0.92

Felt like someone wanna fix the price at 94~95c.

If gap down opening, then will slowly crawl back to 94~95c
If gap up on opening, then will beat down to that level.

My god, long time never see people promote reach here already.
Reach is horrible, i study about it a bit before.
The recent QR also no eyes to see one.

The company is not transparent at all on the production data.
And no one can actually answer / or bother answer my question regarding the oil production.

lol, nothing extra from the egm result.
Anyway, why chartmaster didnt object the warrants as what he post yesterday, after so frustrated?

Hmm, the egm a bit pointless if they not even announcing the warrant price. Just vote yes or no blindly, hai,

My god, they really spend time and ask these type of questions?

lol, no goodies bag.
What a dissapointment

Rocky88, the uncles are they questioning more technical questions?
Coz maybe most them might be retired OG workers.

sorry, i reply to wrong guy just now.

@Happy888.

High water cut is based on well situation.
North sabah have 100+ wells , so well's performance will be varied.

And importantly this can actually be fixed.
So this question will have no direct answer actually.

Rocky, if possible please ask how they handle the really low inventory they have now.
how is the current production rate to fill the gap created last QR.

Guess that's the only thing since the EGM held just for this purpose.
Personally not a big fans of warrant though.

Extra news maybe is about the progress of north sabah?

haha, wont la.
just for fun sometimes, u know.
anyway, looks like just a small push for egm.

wow, the graph macam like wanna sky rocket.
I miss you, limit up, lol

@DamienCYH

haha, i trade with nominee account.
So i have no rights to vote, lol.

or maybe all busy to go egm today, hence the noise dies down? lol

slowly crawl back, not sure why a sudden flash crash on today opening.
Anyway, finally the forum is back to its quiet state.

they will need more capital to acquire sabah eor and further develop. Dont think will be any dividend soon.

Plus they raise capital by private placement, if give back in dividend then what's the point?

Thanks for sharing.

Not really much info from the article though and do agree it is really sensational, lol.

And i think hibiscus really answer in a good way, they dont know till they get full control and this 80% water cut is up to the well (or some times reservoir).
And this is where a deep study and recovery plan is required after hibiscus take over sabah EOR.

Technology advances and now actually more oil can be discovered and retrieved.
And i do actually seen/heard PSC that manage to double to triple the oil production (overall) and well from 0bbl oil up to 1000 bbl.

@DamienCYH, just check and found some interesting topic then post.
Anyway, chartmaster say sell all his shares before then now say frustrated. lol, not really sure what his position.

Anyway, looks like nobody can answer where the report on the sabah eor performance. Coz i would really interested to read it.

And i doubt he can actually provide, coz no PSC will share their production data especially field to field/ well to well data (unless listed company)

today most likely "locked" at 94.
did some topup at 91.5 c, consider lucky anyway

Chartmaster, can u share where u read that shows high water level?

Anyway, indeed sabah EOR ( 4 fields) are mature fields.
And mature fields often faced various probs because of it aging wells and facilities.

But hibiscus did a study before buying them. They found the potential and thus they acquire it.

Anyway, if you could share us the report/article then we can dig deeper on it.

Last but not least, the 2P and 2C reserves are all done by 3rd party. So these data most of the time is trustworthy enough.

wow, 80c. no more no less as what dartmaster predict

KKG10Y, the drop in production have not been reflected in the recent QR as oils are stored in FPSO then only sell with oil tanker.

So the oil is accumulated across past few quarters and fill the gap that created by recent quarter low production.

The high revenue of high oil price is offset high expenses (due to recent planed and unplanned maintenance).

Just for sharing

Kenanga and hlb seems positive on dayang. All giving a buy call

wao, slowly slowly crawl back to 80c.

Haiz, hibiscus forum become so noisy nowadays. Guess i will stay away for now till the noise dies down (aka punters gone). Then we will know who is trult swim with proper swimming gears.
Cheers guys,l, all the best

Pretty risky to chase high. We are here since low and ppan to stay for mid to long term. If wanna fifo then better be cautious la

Wao, long time didnt pay visit to dayang, almost forget i hold this stock lol. What happen?

guys, good to be positive and have confidence in hibiscus.
But it is time to do some homework after the QR release though. Indeed it is actually quite a good QR but being dragged by the unexpected downtime and extra expenses.

Yet, i start to worry on coming QR though as Feb is where anasuria oil tanker offload oils, and the recent rally of 70USD of brent price cooled down after end of Jan, hence hibiscus did not benefited by the recent high rally.
And last quarter low production online time did cause a big gap to fill this quarter oil tanker. So it will really need a good production rate this qr to sell enough oil.

Plus the recent downtrend of USD did also cause forex disadvantage to hibiscus.

Hence expect the revenue might be lower or maintain, but Net profit should be improved provided no other extra expenses incurred in this QR.

Anyway, good luck and hold tight on hibiscus.

oozie, personally i dont really trust the research article by the investment banks/firms.
The valuation/analysis change like weather.

Just good for reading but not going to trust 100% on it.

announced plans to undertake a free warrant issue on the basis of 1 for every 5 existing ordinary shares held, subject to shareholder approval. While this essentially expands its share base by 20% upon full exercise of the said warrants over the next 3 years and may be dilutive, we are leaving our sum-of-parts derived RM1.08 valuation unchanged for now given the potential uplift from the conversion of 2C to 2P reserves for the North Sabah field, which we have not accounted for in our computations. Assuming a 50% conversion, we are estimating the Group’s overall fair value to be bumped up to RM1.17 (post-dilution)

TP 1.08 exclude free warrants. TP 1.17 is the real deal.

Anyway these bank analysis just for own reading. Dont trust 100% though but good to know they are positive on hibiscus as well

https://klse.i3investor.com/blogs/PublicInvest/148156.jsp

North Sabah updates. Inching every so closer, the Group anticipates completion of the deal by 31 March barring any unforeseen circumstances. To recap, the Group (through wholly-owned subsidiary SEA Hibiscus) is proposing to acquire a 50% participating interest in the 2011 North Sabah Enhanced Oil Recovery Production Sharing Contract from Sabah Shell Petroleum Company Limited and Shell Sabah Selatan Sdn Bhd (sellers) for a total consideration of USD25m. On 22 December 2017, SEA Hibiscus, PETRONAS, the sellers and Petronas Carigali Sdn Bhd entered into a novation agreement for the assignment and transfer of the sellers’ interests in the asset to SEA Hibiscus to continue production as well as the further development of petroleum resources at the fields upon completion of the proposed acquisition. So near yet so far. We remain comforted by the fact that the commercial arrangement for net economic benefits and risks in the asset to accrue to SEA Hibiscus from 1 January 2017 remains in place. We continue to be excited over this impending acquisition, though we acknowledge this has mostly priced-in at current levels. Nevertheless, the entitlement of an additional ~6,000bbls/day production (at the minimum) from these North Sabah operations net to Hibiscus is expected to aggregate about 9,500bbls/day production for the Group. Additionally, North Sabah will provide immense opportunities to increase the Group’s production rate as there is access to 62mbbls of 2P oil reserves and 79mbbls of 2C contingent resources (numbers based on 2015 gross estimate)
Free warrant issue. Hibiscus recently announced plans to undertake a free warrant issue on the basis of 1 for every 5 existing ordinary shares held, subject to shareholder approval. While this essentially expands its share base by 20% upon full exercise of the said warrants over the next 3 years and may be dilutive, we are leaving our sum-of-parts derived RM1.08 valuation unchanged for now given the potential uplift from the conversion of 2C to 2P reserves for the North Sabah field, which we have not accounted for in our computations. Assuming a 50% conversion, we are estimating the Group’s overall fair value to be bumped up to RM1.17 (post-dilution)

Hibiscus Petroleum’s 1HFY18 pretax profit of RM22.8m was higher 30.6% YoY, reflective of higher average crude oil prices recognized during the period, which could otherwise have been higher if not for certain operational challenges encountered during the quarter under review. Reported net profit was 76.0% lower YoY however, due to a huge reversal in deferred tax liabilities in the previous corresponding period (1HFY17). While we continue to believe completion of the North Sabah deal is on hand, we are now only accounting for a quarter’s contribution from the asset, resulting in FY18 forecasts being lowered by 49.9% but which will have no effect on our sum-of-parts based valuations. We understand the accounting treatment post-completion of the North Sabah deal would be akin to the Anasuria acquisition, in which a relatively large negative goodwill amount could be recorded. We remain positive on Hibiscus’ long-term prospects given its ongoing initiatives to constantly increase production levels in enhancing shareholder value. Our Outperform call is affirmed, with TP lifted slightly to RM1.08 (RM1.06 previously) as we roll over our DCF-based valuations to FY19 while also making slight adjustments to our forex and crude oil price assumptions.

1HFY18 vs 1HFY17. Revenue of RM134.9m in the current period was up 14.2% YoY largely due to higher average crude oil prices realized (1HFY18: USD57.55 per barrel, 1HFY17: USD43.37 per barrel) as lower average uptime (63%) was seen in 1HFY18 due to a planned shutdown of the Anasuria FPSO for 31 days. The current quarter also saw a temporary interruption in production of the Cook-P1 well and temporary failure of a gas compression facility, both of which dampened 2QFY18 uptime to 57% for a cumulative 1HFY18 average of 63%. 1HFY17 average uptime was 90%. Group pretax profits were 30.4% higher YoY to RM22.8m, though comparisons are slightly distorted by non-operational related changes, 1) lower amortization of intangible assets and depreciation of oil and gas assets (Anasuria), 2) lower losses recognizes in its Australian operations due to the strengthening of its currency against the US Dollar. To note, 274,644 barrels of crude oil were sold at an average of USD62.93 per barrel in 2QFY18 as compared to the 246,132 barrels in 1QFY18 at USD51.54 per barrel.
Anasuria updates. The period under review saw the completions of 1) Offshore Turnaround of the Anasuria FPSO, and 2) the GUA-P4 gas lift project. The former is for performance of compliance and general maintenance related activities, and anticipated to improve average unplanned facilities uptime/availability of the FPSO facilities up to 90%, post shutdown. The next turnaround is planned for late 2019. The latter, meanwhile, is to lighten the well to ensure smoother flow and increase of production, adding 0.5mbbls (net to Hibiscus) of 2P reserves. Production rate is anticipated to improve to 350bbls/day net to AHUK from 60bbls/day. This equates to c.10% increase in production, ensuring depletion of the field is arrested. We gather production has actually been better-than-expected,
The Group also recently announced that its UK joint operating company Anasuria Operating Company Limited (AOCL) had contracted a 6th

generation semi-submersible rig to drill the Guillemot-A, GUA-P2 side-track into the Forties (primary target) or Fulmar (secondary target) reservoirs. The drilling of this side-track is part of the Group’s strategy to enhance production from the Anasuria Cluster to a volume of ~5,000 barrels per day by FY2020. This project is also anticipated to realize net proved and probable (2P) reserves of 1.01 million barrels, potentially enhancing valuations of the Group further. Incremental contributions are already anticipated from July 2018 onwards upon completion of this exercise.

thanks a lot stockeeper for the youtube link. Very informative from hibiscus presentation.
Increment of 19m of operating cost because of the following as in the presentation.

1. Cost for the offshore turnaround maintenance
2. Cost to fix Cook-P1 subsea production choke
3. Cost to fix the compression facilities

So it means it is still very lean on expenses, but due to unforseen downtime causing the increase of expenses.

Anyway, the production online time is not reflected on current quarter yet. As it still manage to fill the oil tanker because of previous month storage.
Next quarter will be a challenging quarter for hibicus to have a high production online time to replace the gap created last quarter.

Wah, betta68 u pijak hibiscus qr then come and tell dnex forum that the qr very good.

For the increase in operating cost, there's few factors that i could think of :

1. Cost for the offshore turnaround maintenance
2. Cost for the gas lift installation on GUA-P4
3. Cost to fix Cook-P1 subsea production choke
4. Cost to fix the compression facilities

Just my rough guess though, not really firm on it.

Now i know why people say if u read the company annual's report then u know better than 80% of the people.
Okla, sell more.
Cut loss cut loss, haha