Whatever it takes, by my own approximate calculations, price has to 'move up' to and 'be maintained' at around 58 - at around closure deadline date - for RI acceptors to get an incentive of about 30% immediate gain, assuming a 40 sen RI price and 1 for 2 RI basis (i.e. 1 Rights share for every 2 existing shares). This is without taking the free warrants into account.

30% immediate gain was approximately what the last RI gave to RI acceptors, with a RI price of 17.5 sen, with a RI basis of 41 for 10 (i.e. 41 Rights shares for 10 existing shares) and a 'pushed-down-and-maintained-there' price of 50 sen around the offer closure deadline date.

Danceable and doable.

Yup. 33 is definitely danceable, TravoltaKeong.

Posted by march > Oct 25, 2014 05:28 PM | Report Abuse

Do check harold hamm betting position.. he's in deep trouble.. just like u dreamer
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A ha. I have. Well, he's still lookin pretty good where is. As am I.

Posted by march > Oct 25, 2014 05:21 PM | Report Abuse

Harold Hamm is just pretending not to be worry because he's betting billions of usd... his money and his company's money in long oil futures contracst... thats a very simple and just answer for u to consider your immature thought
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Really? Well, if he's confident enough to fake confidence when he does not have much of it, maybe he has courage enough.

And that will be enough. After all, he has not come as far as he has by being timid, and by so easily and so constantly succumbing to perpetually changing market perceptions.

And how confident of you. Seemingly. In your own fragile market-dictated convictions.

That was the wrong site. This cited below is the right one.

http://www.forbes.com/sites/christopherhelman/2014/10/20/why-harold-hamm-isnt-worried-about-plunging-oil-prices/

http://www.forbes.com/sites/christopherhelman/2014/04/16/harold-hamm-billionaire-fueling-americas-recovery/

If someone thinks I cooked all that up, then he's welcome to visit Christopher Helman's article on Harold Hamm's comments, as published in www.forbes.com, in the site cited above.

If someone thinks I cooked all that up, then he's welcome to visit Harold Hamm's Christopher Helman's article on Harold Hamm's comments, as published in www.forbes.com

WHY HAROLd HAMM ISN'T WORRIED ABOUT FALLING OIL PRICES (Part 3)

And although there remains some low-hanging “easy oil” to be harvested in Iraq and Iran, most new supplies will require sustained high oil prices to justify investment — prices higher than the $100 or so that we’ve seen in recent years.

American drillers in Texas, Pennsylvania, North Dakota and Oklahoma, have shown how horizontal drilling and hydraulic fracturing can unleash a supply boom. Hamm’s Continental is on track to hit 200,000 bpd this year, up from 37,000 bpd five years ago. And soon, says Hamm, the Saudis and other OPEC nations will have to follow suit as their easy oil dries up.

The world should frankly be shocked that $100 oil hasn’t unleashed a supply boom anywhere outside of the U.S. Take Venezeula, for example. That country depends entirely on oil revenues to keep afloat and supposedly has the world’s biggest recoverable reserves, at some 500 billion barrels. And yet in the past decade Venezuela’s output has slid from 3 million bpd to 2.5 million. Sure, Venezuela is run by buffoons, but you’d think that with the survival of their regime at stake, they would have figured out how to at least keep oil output flat. That Caracas is not squabbling with Kuwait and Abu Dhabi and Algeria over who should get more room under the OPEC member quotas to sell $100 crude to the world indicates that maintaining, let alone expanding, crude supplies isn’t as easy as they’d like us to think.

Indeed, Hamm doesn’t believe the oil industry dogma that the Saudis maintain an extra 2 million bpd of spare capacity they could turn on to meet a supply disruption, says Hamm. “They Saudis don’t have the capacity. They are wide open.”

In time, the Saudis will need to start their own horizontal drilling campaign like we’ve been doing in the United States, says Hamm. But they don’t want to, because it would be expensive to ramp up, and the margins are much slimmer than what they derive from supergiant fields like Ghawar and Manifa. Such a move would indicate that even the Saudis had run out of cheap oil to exploit, thus requiring a structurally higher oil price for the Kingdom to balance its long-term finances.

With this latest effort to jawbone oil prices down, the Saudis “have overplayed their hand,” says Hamm. “It will be increasingly challenging for them to simply talk down oil prices.”

WHY HAROLd HAMM ISN'T WORRIED ABOUT FALLING OIL PRICES (Part 2)

And although fossil fuel demand is stagnant in developed nations like the U.S. and across Europe, it continues to surge in developing nations, with China’s daily demand increasing by 370,000 barrels in each of the past two years, according to the EIA.

“We need more supply. It’s crazy to think that China and India won’t continue to demand more oil,” Hamm says. “Even if overall economic growth slows, oil demand will grow, because they want something other than a bicycle; they want to farm with a tractor instead of oxen.”

What’s more, the oil industry is constantly fighting against natural production decline rates. Worldwide, output from the average oil field declines by about 5% a year. Declines are much steeper in the big new U.S. fields like the Bakken and Eagle Ford, where a well might come on line at 1,200 bpd, but lose half of that within four months. Even with technological advances to get more oil out of old fields, drillers need to bring on about 4 million barrels per day of new volumes, just to keep world production flat.

Now, before some well packed harm-soup bull story by some bull-shhitting kiddy pirate-raider-marauder takes hold on some innocent unfamiliar investors' minds, let's go through this veteran US oilman's (Harold Hamm) comments about what is REALLY happening to the boil markets currently.

Read his comments many, many times, and then commit the gist of them to mind for the next few weeks.

WHY HAROLd HAMM ISN'T WORRIED ABOUT FALLING OIL PRICES (Part 1)

Count Harold Hamm, the billionaire CEO of Continental Resources CLR -1.99%, as one oil man not worried about the plunge in crude prices to $82 a barrel.

“Notice how it happened all at once,” he says, starting off our phone call. The suddenness of oil’s plunge followed the Saudi assertion a week ago that oil was in oversupply, they could live with $80 oil for a couple years, and didn’t plan to cut their own output.

Empty talk, not market fundamentals, moved the price, says Hamm. ”It’s not supply-demand related.” On the contrary, “this is one country, the Saudis, attempting to dictate world oil prices.”

And it’s not going to work, he says. If the Saudis really want to send oil prices lower — as a method of applying political pressure to Russia and Iran — they’ll have to back up their jawboning by adding more barrels to the world market.

OPEC would like to grab back market share from U.S. drillers, but neither the Saudis, nor any other OPEC producer has any excess production capacity with which to push aside American barrels. So the hope is that they can slow the American oil boom by just talking prices lower, below the break-even point for drilling tight oil out of shale.

“The market is not in glut,” says Hamm. “It’s a case of the emperor has no clothes.”

Indeed, the U.S. government’s Energy Information Administration estimates that global oil consumption (91.5 million bpd) has kept pace with supply growth (91.8 million bpd).

And although fossil fuel demand is stagnant in developed nations like the U.S. and across Europe, it continues to surge in developing nations, with China’s daily demand increasing by 370,000 barrels in each of the past two years, according to the EIA.

What I was saying is that I simply do not believe that there is a concerted and coordinated official US government effort to destroy the conventional oil industry using shale oil.

After all, Exxon, Caltex, Murphy, Talisman, Conoco-Phillips and many other giant US oil businesses are also based on conventional oil. Is the US government prepared to let them all collapse to NOTHING, just to promote and defend expensive-to-produce shale oil?

Fat chance.

Posted by Conned99 > Oct 25, 2014 12:05 PM | Report Abuse

OPEC meeting and increase of demand in winter may be the factors that sustaining the oil price now. But don't forget these factors may be override by others in the future.

Let's put it this way that the Above factors are only solving the inner issues of conventional oil industry. But what about the outer issue? Like shale oil. Which will hit the entire industry down easily. I believe many of us here or the world has seen the power of shale oil to the world market.
_______________________________________________________________________

Another outstanding display of profound understanding of global market economics. This time specific to oil economics.

So, essentially what you're saying is that the Americans are going to use cheap shale oil to flood global oil supplies to make oil prices fall and stay low for a very long time.

You mentioned US$70 somewhere in one of your 'awesome' posts. Do you know that the production cost of shale oil is US$80 per barrel minimum? While that of conventional crude oil is like US$50 - US$60 per barrel?

So what do you reckon is going to happen when world crude falls below US$80? Tell you what, whizzkid. The shale oil producers will be forced to turn off their drilling spigots and close business, becoz in such a scenario, it wouldn't make sense for them to be doing business anymore.

Leaving the oil supply markets to conventional oil again.

Posted by Conned99 > Oct 25, 2014 11:08 AM | Report Abuse

Don't be fooled by a well packed hamsup bull story. Look at the devolopment of the market. US is hand itchy to hit the world with a bang, a big Big Bang!!!!

They just hit the world with the shale oil issue. Which they only moved their fingers, and already crushes the world market. Have u notice the shale oil issue has now been silent?
Who did it? Think yourself.

And there are more factors to crash the world market. Don't under estimate US. If ever USD is ready strong, market nightmare will come. Klci 1200 Pts is possible.
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Your understanding of global market economics is really, really amazing. So, going by the 'logic' of your 'argument', the US has this fervent, livid desire to destroy the rest of the world economically.

Well. let's just assume, just for one moment, that they succeed in this 'evil' wish of theirs. Then, who will be left in the world to buy American products and services. Only Americans themselves? Right. Some very highly intelligent reasoning you've got there.

Then they'll be like the shopkeeper selling the shop's merchandise only to himself, becoz all his neighbours are now so poor that they can't afford to buy anything from him.

Wow! Maybe Harvard should consider awarding you a special fast-track PhD in voodoo economics.

Onegai shimasu. O yasumi nasai. O gengki de. O kiotsukete.

I wish I got cap to buy 5,000 big lots. Then I can easily become Mr. 20M. When Suma hits RM4.

But that's okay. I will find a way to grow my holdings of WB to 10,000 big lots. Then just wait for it to hit RM10. In 2018.

Then I will be ... worth ... 100M.

Yay! Righty ho!! Hip hip, hooray!!!

Gonna be a good day tomorrow. Believe me.

Post removed.Why?

Doh svidania. Auf wiedersehn. Sayonara.

Posted by DickyMe > Oct 23, 2014 10:07 PM | Report Abuse

Someone please send Dreamconqueror to Tanjung Rambutan..he needs help!
_______________________________________________________________________

What ... Is that all you could come up with now?

What a tame, lame riposte.

Well, that just confirms it then.

You ... are ... defeated.

Totally ... completely ... decisively ... DEFEATED.

And it's all in one's name, DickyMe MeDicky.

So, at the end of it all, I am going to be the Conqueror of the Dream.

And what are you gonna be? The dikkhead who gets himself dikkied. Poor dude.

Time to go.

Doh svidania.

He's losin it now, that dikkhead dickyme chameleon dude. Screamin and shoutin left, right and centre. Here, there and everywhere.

Can't take the pressure anymore now, can he? It's all gettin too much for him now, I guess.

Posted by strategisst > Oct 23, 2014 09:43 PM | Report Abuse

... wondering when the goreng team would start to heat the kuali .... :)
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I can already smell it. It sure is gonna be tasty, my nose doesn't lie. Ummm, yum yummy ...

Posted by DickyMe > Oct 23, 2014 09:37 PM | Report Abuse

Then stop being a PRICK!
_______________________________________________________________________

And now look who's shouting.

Post removed.Why?

Posted by DickyMe > Oct 23, 2014 09:18 PM | Report Abuse

Hello, stop lying, that is not my statement..please scan the scroll...Stop being envious.
_______________________________________________________________________

Dude. Chameleon. Just scroll your own head back. I don't hv the time to waste.

Sudah 25 lor. Sikit hari 30 lor.

Buy when low, then sell when high. Not buy when high, then get trapped at low with high cost.

Envious of someone with shamelessness enough to call himself 'dicky me'?

Fat chance.

So, where are you now, ah, you cowardly, constantly bullshhitting, kiddy dikkhead OptiMouse-Doraemon-DreamShhitter-HappyTradingzx-MusangfoxKing-SureLaughDie ah.

Come on. Come out and play. Kid.

Ha, sekarang mana sudah hilang lenyap itu OptiMouse-Doraemon-DreamShhitter-HappyTradingzx-MusangfoxKing-SureLaughDie itu ah.

Langsung tak nampak muka la di tu, bila Suma naik. Terus hilang ghaib ke alam bunian juga dia.

Satu oarng saja dia tu, bukannya banyak, satu orang saja tapi berpuluh-puluh dia punya clones.

Lagi itu hari dia sudah menyamar pakai gua punya nama, complete with gua punya avatar picture, tapi ejaannya DreamS(Ass)Conqueror, with an 's' (ass) in his name. Pasal dia pun ada Attention Seeking Syndrome (ASS), kan.

There is no such thing as an ironclad-guaranteed judgement.

One can only make a fair, inspired guess based on many types of available and accessible info, including price trends, market mood, public perceptions, company strategies, projects in hand, global events, geo-political circumstances etc. etc etc.

If wanna be aboslutely sure, then one will never hv the courage to go in. Bila murah, taakut lagi turun. Bila naik, takut trend reverse. Ini macam bila boleh main.

Bila price dah naik berdentum-dentam, itu jam baru kecoh kelam-kabut terkejar-kejar nak ikut sama. Ha, itu jam dah lewat la biasanya, dan sangat mudah nak terperangkap.

DickyMe MeDicky tu kaki auta ja, Strategisst. Nujum mengkarung aja dia tu.

When price falls, he will claim that he has already predicted it, and tell you that you're stupid for not believing him and selling out earlier.

When price rises he'll be quick to mention an upper barrier, just to later claim tha he had already made the correct prediction, and tell you that you're wise for believing him.

Biasa la tu, nujum mengkarung, chameleon investor. Nai ka , turun ka, dia misti claim dia sudah buat ramalan yg betul punya. Gua pun hairan la, kenapa dia samapai sekarang pun belum jadi billionaire lagi ah.

Masih duk terhegeh-hegeh bikin shhitt bikin kacau dalam Suma room bila perice down.

Takkan la dah lupa, only last Wednesday or Thursday he was saying with all certainty that Suma was going to fall to 28.5 this week.

Tapi bila Suma naik 33 on Friday, dia cepat-cepat benar tukar dia punya tune. Chameleon investor juga dia itu, nujum mengkarung juga dia itu. Klentong juga kerja dia tu, tak habis-habis.

Why Harold Hamm Isn't Worried About Plunging Oil Prices (Part 3):

And although there remains some low-hanging “easy oil” to be harvested in Iraq and Iran, most new supplies will require sustained high oil prices to justify investment — prices higher than the $100 or so that we’ve seen in recent years.

American drillers in Texas, Pennsylvania, North Dakota and Oklahoma, have shown how horizontal drilling and hydraulic fracturing can unleash a supply boom. Hamm’s Continental Continental is on track to hit 200,000 bpd this year, up from 37,000 bpd five years ago. And soon, says Hamm, the Saudis and other OPEC nations will have to follow suit as their easy oil dries up.

The world should frankly be shocked that $100 oil hasn’t unleashed a supply boom anywhere outside of the U.S. Take Venezeula, for example. That country depends entirely on oil revenues to keep afloat and supposedly has the world’s biggest recoverable reserves, at some 500 billion barrels. And yet in the past decade Venezuela’s output has slid from 3 million bpd to 2.5 million. Sure, Venezuela is run by buffoons, but you’d think that with the survival of their regime at stake, they would have figured out how to at least keep oil output flat. That Caracas is not squabbling with Kuwait and Abu Dhabi and Algeria over who should get more room under the OPEC member quotas to sell $100 crude to the world indicates that maintaining, let alone expanding, crude supplies isn’t as easy as they’d like us to think.

Indeed, Hamm doesn’t believe the oil industry dogma that the Saudis maintain an extra 2 million bpd of spare capacity they could turn on to meet a supply disruption, says Hamm. “They Saudis don’t have the capacity. They are wide open.”

In time, the Saudis will need to start their own horizontal drilling campaign like we’ve been doing in the United States, says Hamm. But they don’t want to, because it would be expensive to ramp up, and the margins are much slimmer than what they derive from supergiant fields like Ghawar and Manifa. Such a move would indicate that even the Saudis had run out of cheap oil to exploit, thus requiring a structurally higher oil price for the Kingdom to balance its long-term finances.

With this latest effort to jawbone oil prices down, the Saudis “have overplayed their hand,” says Hamm. “It will be increasingly challenging for them to simply talk down oil prices.”

http://www.forbes.com/sites/christopherhelman/2014/10/20/why-harold-hamm-isnt-worried-about-plunging-oil-prices/

Why Harold Hamm Isn't Worried About Plunging Oil Prices (Part 2):

“The market is not in glut,” says Hamm. “It’s a case of the emperor has no clothes.”

Indeed, the U.S. government’s Energy Information Administration estimates that global oil consumption (91.5 million bpd) has kept pace with supply growth (91.8 million bpd).

And although fossil fuel demand is stagnant in developed nations like the U.S. and across Europe, it continues to surge in developing nations, with China’s daily demand increasing by 370,000 barrels in each of the past two years, according to the EIA.

“We need more supply. It’s crazy to think that China and India won’t continue to demand more oil,” Hamm says. “Even if overall economic growth slows, oil demand will grow, because they want something other than a bicycle; they want to farm with a tractor instead of oxen.”

What’s more, the oil industry is constantly fighting against natural production decline rates. Worldwide, output from the average oil field declines by about 5% a year. Declines are much steeper in the big new U.S. fields like the Bakken and Eagle Ford, where a well might come on line at 1,200 bpd, but lose half of that within four months. Even with technological advances to get more oil out of old fields, drillers need to bring on about 4 million barrels per day of new volumes, just to keep world production flat.

http://www.forbes.com/sites/christopherhelman/2014/10/20/why-harold-hamm-isnt-worried-about-plunging-oil-prices/

I'm not a great relier on charts, becoz I'm a long term investor, rather than a short term trader. What I prefer to do is study and keep up with long term trends and developments, fundamentals and perceptions.

Read this many times and make a strong effort to commit the gist of it to mind and heart. It might work, if one has enough courage to throw unthinking cynicism & scepticism out of one's mental window.

Why Harold Hamm Isn't Worried About Plunging Oil Prices (Part 1):

Count Harold Hamm, the billionaire CEO of Continental Resources CLR -4.92%, as one oil man not worried about the plunge in crude prices to $82 a barrel.

“Notice how it happened all at once,” he says, starting off our phone call. The suddenness of oil’s plunge followed the Saudi assertion a week ago that oil was in oversupply, they could live with $80 oil for a couple years, and didn’t plan to cut their own output.

Empty talk, not market fundamentals, moved the price, says Hamm. ”It’s not supply-demand related.” On the contrary, “this is one country, the Saudis, attempting to dictate world oil prices.”

And it’s not going to work, he says. If the Saudis really want to send oil prices lower — as a method of applying political pressure to Russia and Iran — they’ll have to back up their jawboning by adding more barrels to the world market.

OPEC would like to grab back market share from U.S. drillers, but neither the Saudis, nor any other OPEC producer has any excess production capacity with which to push aside American barrels. So the hope is that they can slow the American oil boom by just talking prices lower, below the break-even point for drilling tight oil out of shale.



http://www.forbes.com/sites/christopherhelman/2014/10/20/why-harold-hamm-isnt-worried-about-plunging-oil-prices/

No need to get your pants all in a twist about me posting at 4 in the morning, OptiMouse-Doraemon-DreamShhitter-HappyTradings-TruthSeeker-MusangFoxKing. Coz that is what I always do on the morning after a Sunday or public holiday.

So, StilLaughing, kid, how much profit hv you made from buying Suma at cheap then, one wonders.

Nothing yet, I guess, since you're still waiting for 10 sen, right.

So, which planet are you on, StilLaughing. On SureLaughDie Planet, could be.

Brent oil is holding at US$86 on news of robust Chinese oil demand.

http://in.reuters.com/article/2014/10/21/markets-oil-idINKCN0IA0PL20141021

No need to be fazed by the recent down-slide in oi prices. It's mostly all due only to Saudi posturing, says America's leading private oilman, Harold Hamm. Which means the fall won't last very long.

http://www.forbes.com/sites/christopherhelman/2014/10/20/why-harold-hamm-isnt-worried-about-plunging-oil-prices/

Now, back to business.

Before I start, lemme gv another clarification.

Another nutty dude is masquerading around as me. He's even using the same avatar pic as me, but he's spelling his name as DreamS(Ass)Conqueror, with an 's' (ass) in his name, being the Attention Seeking Syndrome (ASS) kiddy dikkhead that he is.

Wimpy, weedy Con Kid.

He's gone to sleep. That wimpy, weedy OptiMouse-Doraemon-DreamShhitter kid.

He sometimes calls himself a DreamShhitter, and he's so easily shhitted by hiw own small, tired, inspirationless dream.

What's the matter, OptiMouse-Doraemon. You've stopped posting. Must be tired already now. No stamina. Wimpy, weedy kid.

Posted by DreamsConqueror > Oct 22, 2014 01:04 AM | Report Abuse

The Conqueror of DREAMS
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Better, much much better, than the SHHITTER of dreams, eh?

Posted by DreamsConqueror > Oct 22, 2014 01:04 AM | Report Abuse

The Conqueror of DREAMS
_______________________________________________________________________

That's me. Vast dreams. I know they will all come true. And I know it really pains you, just thinking about it. Poor kid.