In practical terms we will probably be well into the first quarter 2019 before we see any impact from OPEC production cuts. However, once we do, it will be like June of 2017 all over again, and the price of Brent oil could strongly respond to the upside.

https://oilprice.com/Energy/Energy-General/Putin-Looks-To-Capitalize-On-Waning-US-Saudi-Relations.html

https://www.thestar.com.my/business/business-news/2018/10/15/no-inheritance-capital-gains-tax-in-budget/

Good news for Hibiscus.
http://www.theedgemarkets.com/article/could-og-counters-be-bargain-amid-malaysia-share-selldown

Today the value of shares transacted in Bursa is RM 1.32 billion.
Stamp duty collected at 0.3% is RM 4 million.
Increase the stamp duty by 100% will generate additional revenue to government by RM 1 billion per year (RM4 million X 260 trading days).
Hope LGE see this.....

Capital gain tax is difficult to implement as not always we make profit in Bursa.
What if we make a loss? Can we off set against our other source of income?
I think the best is the government to increase the stamp duty for share trading.
Maybe by 100%-200%. Currently is it RM3 per RM1,000?

IvakaWong,
Can not open the PDF file.
Better use copy and paste here.

Dato Nik ,
Can you please share the link to the Maybank IB Retail Research.

Dericlock,
Mean the share price will sure goes up for the warrant holder to convert.
If not there will be no funds.
More good news will be announced along the way....ÖÖÖÖÖÖ

Dericlock, As announced the company need a banking facilities for this purpose. Looking into the cash flow it should be for short term.
Who knows maybe some shareholders convert their warrants before the expiry date. Actually there is an incentive to do so.
Conversion price goes up 6% per year.
The company already calculate that.,6% is their cost of fund (interest to banks).

Yes long term should be going up.
Some of us hold the shares since early 2017.
Hope we are right to invest in this company growth story.

If there is one for sure need to borrow funds from the banks (as announced).
However only for short term as upon the full warrants conversion by 19/3/2021 there will be at least RM 340 million available to repay the banks.

The company mission is to have 2P oil reserve of 100 MMbbls.
After this proposed acquisition the reserve is 76 MMbbls.
Mean there will be another acquisition?

Ken, You are right.
But it depends on each person risk appetite.
The CEO Ken and one director Zaha have sold some of their warrant few months ago.
I repeat they only sold "part" of their warrants holding
- Reduce the risk I suppose.

Warrant (the son )price going up as investor believe in the growth story.
Warrant price at 54 sen plus conversion price of RM 1.00 *(until 19/3/2019).Total cost RM1.54. Indirectly they bet the share (mother) is worth at least RM 1.54 and above.
I will keep my Hibiscus shares for sure....
* The conversion price will go to the company.

Shareholders mean you and me who still hold the warrants.
If you believe in the company growth story you may convert the warrants to shares. If not you may sell the warrants at market for other investors to pick up.

The shareholders need to pay to convert their warrants to shares.

The fund will be from the conversion of warrants to shares - 317 million warrants @ conversion price of RM1.00 to RM 1.12. Total fund raise will be at least RM 340 million by 2021.

Seller / JV partner (50%) in financial difficulty, Hibiscus might buy the proposed assets in cheap..
https://www.livemint.com/Companies/a4yfYT6ndf3eXbPk6cGwjI/Aban-Offshore-hires-Deloitte-to-draw-up-a-debt-resolution-pl.html

Aban Offshore the JV partner.
https://www.livemint.com/Companies/6gatf7xtqHaxvBXCqHBS6N/Aban-Offshore-promoters-offer-600-million-onetime-settleme.html

For sharing - Anasuria at North sea?

https://oilprice.com/Latest-Energy-News/World-News/Marathon-Oil-Aims-To-Exit-North-Sea-As-It-Focuses-On-US-Shale.html

To recap - the main reason contributed the last oil rally .

http://oil-price.net/en/articles/iran-tensions-150-dollar-oil-price.php

https://www.aljazeera.com/news/2018/10/iranian-fires-missiles-syria-parade-attack-181001062636019.html

@gohkimhock
Similar trend as Unisem....Drop 20% but after 1 week back to normal.

Saudi Arabia Signals Ambition for $80 Oil Price...

https://www.bloomberg.com/news/articles/2018-04-10/saudi-arabia-is-said-to-signal-ambition-for-80-oil-price

Orange88,
Totally agreed with your comments.
Will share thoughts and news along the way.
Wish we are right and 'Huat Huat" together!
Also to the few gentleman (and ladies too) who share the same view.
Hope to see you in this forum until 2020/21.
Cheers.

For sharing - Based on last quarter the daily production was 2,000 barrel per day. EPS was 0.72 sen.
Management vision is to achieve 20,000 barrel per day by 2021.
If they can achieve that , in 3 years the price will be .....
Of course under the ideal situation lah.

Noted.

Between the 2 projects Anasuria and Sabah which one make more profit in term of RM per barrel?

I believe he transferred from Maybank Inv to other banks because his Maybank margin accounts limit was reduced.
He still hold 68.5 million shares as at March 2018.
Mean he still have confident in this counter!

I would suggest Hibiscus.
A growth company reported profits for 6 consecutive quarters.
Competent management team with achievable vision for the next 4 years.
https://www.thestar.com.my/business/business-news/2018/02/24/hibiscus-the-story-of-a-successful-spac/
https://www.youtube.com/channel/UCLp8hXSUNMQM3xxvGoVoLmA

There will be no major announcement as CEO mentioned they will focus on execution of projects in hand.

http://www.theedgemarkets.com/article/hibiscus-focus-project-execution-2h2018

Formal announcement will be made after the EGM.
No worries.

Yes that is the update that we want to read!!

Photo of the free food?
Haha.

EGM to start at 10:30 am.
Anybody can do a "live" update ?

I think this is the report that Chartmaster is talking about.
http://www.focusmalaysia.my/Mainstream/uncertainties-loom-over-hibiscu...

Tomorrow.

Oil price is dropping
https://oilprice.com/oil-price-charts

Lower exercise price means lower entry cost when convert to mother share.
Same logic for the PP investor , they will prefer lower price to get more shares with the same amount of money.
Now the management decided to reward all the existing shareholders with the same way.
Key word - Long term .
Must hold this counter for long term to maximise the potential profit.

Lower price from now until the free warrants are issue is actually good for the long term and loyal investor. This is because the exercise price of the proposed warrant is based on 5 days average price before issuance date.

Can I have the link to the JPMorgan report?

I guess the Tapis oil is from Sabah.

https://oilprice.com/Energy/Oil-Prices/The-Worlds-Most-Expensive-Oil.html

Thank you Mr KYY for your advice -
I will continue to buy more shares if it shows increasing profit. I will not sell until I see the company starts to report a reduced profit.

For sharing.
http://www.focusmalaysia.my/Mainstream/uncertainties-loom-over-hibiscus-sabah-oilfield

From Annual report - 30 largest shareholders , #7 with 2.27% guess who?
Is EPF.