3 type of people when interpreted the qr results:
1) profit gao gao without much study the figure
(傻人有傻福In long run)
2) check the figures carefully and think that they are those 20% smart people ( 庄家最喜欢套自以为聪明的人in the long run）
3) try to understand what's the fact behind, why suddenly so many one off impairment loss during this quarter, what does it means for future report etc.

Overall, 庄家和老板真的很会玩财技还有心理学，

It's easier to criticise now why not offer right issue to shareholders to get a fairer price. However, pls try to understand what's the situation that time， not easy to get loan from bank that time, and the share price that time also around 0.4++ ,anyone can get that price at the open market that time. I also invest some on this stock and will wait patiently for the repsol deal to be completed and see the results to be reflected around q2'22

Typo erro, segment results will be included in q1 2022

cy2021 is calendar year 2021, that means expected to complete by this year. If completed by end Dec, segment results will be included in q1 2021 quarter and we will be able to see the q1 results on may 22.

Overall, it need more than 1000m capex in these few years for the above mentioned projects. Daily oil production output will be much increase as a results from these high capex.

We talk many about the good side and the bad side is the high capex for new exploring and development oil fields and drilling of new well etc. For the new repsol asset, they will need about usd 100m for 1 exploration and 2 development oil field project in coming years. In UK, also about usd 100m+ for 2 development oil fields ( teal West, Eagle field). Marigold & sunflowers development oil fields will also need much more capex. Other than that, they also have a usd 35m capex project for existing anasuria oil fields but it will be at later stage as need to wait dnex to complete & raise fund for it.

Totally agree. One more thing to add on, asset depreciation is related to non cash deduction, thus the actual cash flow from existing operating will much more than 300m. If add these new asset, the actual cash come in from operating will > 600m.

For me, I see the value of hibiscus base on what we discussed before. I will just keep it and wait patiently to be reward. I may be wrong but I am happy to see its still on track so far.

3) EV sentiment. Many believe oil price will crash with the coming EV. However, after further study, I found its true but it will only happened, at least after 2030++

2) covid sentiment. Yes, the oil price is usd 70+ now but I believe many still worry about the covid sentiment. U can't compare with the situation in 2018/2019 as there's no covid sentiment that time. Anyway, it's on track fo recovering with more people take the vaccine

1) hibiscus announce 2000m units cprs on Sept 2020, so far, 200m units cprs be issue and most of them be convert to hibiscus shares. Most of us worried about the dilution issue include me. I am rest assure until I see the repsol deal and its payment structure.

For oil price from usd 60 to usd 70, share price already increase from 0.6 to 0.7. If compare with previous records, share price stand well at rm 1 when oil price at usd70. For my point of view, there's 3 possible eason : 1) Cprs- pp - dilution of share. 2) covid sentiment 3) EV

Most of the previous trance of CRPS issue ald be converted to hibiscuss share and thus increase the total shares from 1500m+ to 1900m+. Most probably they will issue 1 more tranch for this deal and I believe the conversion price will be atleast 0.7+.

I can't make suggestion for you but just share what I am doing. It seems many not read through the announcement report properly, thus I am just sharing the fact base on the figure from the announcement report. You shall make the decision yourself.

I increase my portfolio of hibuscuss from 10% to 25% on yesterday with price 0.705 and I will just keep it for long term as long as oil price not drop below usd 55. If hit my target rm 1, will sold 50% and leave the balance there. That's my strategic plan.

It's all depends on how long you can hold as eventually the value will be reflected in share price.

Stock price is not simple as oil price in 70usd, then it shall be at xx etc. For example, the company want to raise some money for this acquisition through cpsr. If the price too high, its not easy for them to get interest from investor. As such, I believe the share price will be control/ press down for certain period.

Thus the reason that cpsr holder eating minority tranche is not logic.

For the next tranche, I believe the conversion rate will be more than 0.48 as share price stands well at 0.7. If they want to issue 1 more tranche, if the 5day avg price is rm0. 7, then the convertion rate will be 0.77.

Cpsr is fixed at rm 1, just the conversion rate will depends on the 5day avg price + 10% premium. For previous batch example, let's said you buy 100 unit cprs with rm 100 and the conversion rate is rm 0.48. If you not convert, you can get 4% interest rate. If you convert it, then you can get about 200 units hibiscus.

If not wrong, about 30%+- of the previous 200m CRPS been sold to the major shareholder while the rest not be disclosed.

I regret not buy much during that time as I not dare to invest much. However since the CRPS holder dare to go in at that time, thus it no surprise they can enjoy more profit than us.

When you see the previous CRPS conversion rate is at 0.48 and think its not fair to you as current price at 0.71. Why you not buy more when the share price was at 0.44+?

It depends whether you are short term or long term investor. As I said, share price won't up much due to the CRPS pp concern. However, for the long term, share price will be reflected base on its intrinsic value.

It depends whether you are short term or long term investor. As I said, share price won't up much due to the CRPS pp concern. However, for the long term, share price will be reflected base on its intrinsic value.

For pp, normally there's a negative premium, that means at least 10% discount from the 5day average price. However, the CRPS is + 10% premium, that means the conversion price is 5 day avg price + 10%.

The way of CRPS are much responsible than those pp used by other companies. If you don't want to convert CRPS, investor still can enjoy 4% interest. If hibiscus not able to secure good asset with the condition as disclosed within certain period, they will return the raised money to CRPS investor + 4% annual interest.

The CRPS sold for rm1, the conversion rate is base on the 5day average price +10% premium. Previous tranches is set at 0.48 as the share price be press down to around 0.44. This is the main reason I not expect share price up much soon. However, with current price stand well at rm0. 63 - rm0. 71. The next tranch conversion price shall be much higher.

We all don't like PP due to dilution shares. However, we need to known where is the money raised from pp used for. For this deal, 50% increase in shares unit to gain 100% net profit is a good deal from my perspective. I actually hope that they can successful get more tranche of CRPS to buy more producing oilfields, just like the repsol deal.

Pls note I am not hard sell this stock. Just sharing the information from the announcements of hibiscus. As mentioned this morning, don't expect it will limit up soon due to the PP concern.

As mentioned this morning, hibiscuss will also need to pay they 3% interest for the remaining balance until spa completion.

Pls note although the benefit of these new asset be factor in on 2021, however it won't be reflect in coming qr. They will need to pay the balance during spa completion. The benefit on 2021 will then be deducted from the balance during spa completion.

Many worried about the EV and thus oil price drop alot. However, it will take years to come, at least after 2030.

If oil price continue maintain over usd 60 for coming years, then hibiscuss can enjoy the profit with high oil price + high production output

Daily production out put will be much increase. This is what we can forsee that how hibiscuss grow bigger and sustain their business. If oil price drop in later years, the much increase output will greatly help to mitigate the difference.

They also have another major development oil fields project in UK ( marigold and sunflower) which target 1st oil on end 2013. The cash flow from the new development oil fields as above mentioned will then be used to support the project ( marigold).

Once completed, these new development oil fields = existing atm machine in anasuria.

Pls note the capex also quite high. There will need alot capex for the development oil fields in anasuria ( license no p2518 & p2366) which target 1st oil on early 2023. These cash flow from existing business + repsol will sufficient to fund that project.

EBIDA 550m is before interest, tax and asset depreciation etc. However the depreciation is actually none cash deduction, thus the actual cash flow after tax shall be able to stand over 300m. These are just the cash flow from these repsol asset. If include existing business cash flow, it will easily over 600m.

For hibiscus, the oil sold on 2019 is in between usd58 - usd73. Net profit on 2019 is around 180m after tax, interest, depreciation etc. Refer q1 results of these repsol asset, net profit is ald around 50m+. This is the reason why i said net profit will increase 100%.

Atm machine purchase completed in end 2021 but economic benefit factor in on 2021. Dependa how much profit/ cash in these asset on 2021, there will be a dividen to be pay to repsol. However, these benefit pay to repsol on 2021 will then be calculated and deduct from the purchase price.

Ops.. someone message me don't disclose too much as he still not buy enough. Actually no need to worried much, I don't think it will suddenly up alot and may even drop abit. However, for long term, i believe it will gradually up to rm 1 as long as oil price maintain usd60 ++

If you look back the previous case when they anoounce the acquisition of North sabah. Its also not limit up but gradually take about 6 month to increare to rm 1. During that period, there's some downtrend to shake out the weak holder.

All these info can be found from the announcement report from hibuscuss for this deal. I spent alot of time to study each and after much consideration, I increase my hibiscuss portfolio from 10 to 25%. I not expect the share price limit up or increase alot due to the coming pp concern.

If you think that the deal is too good to believe as how come can enjoy the benefit from these asset eventhough the deal yet to be completely closed. Look at their previous deal on anasuria and North sabah, they also practice the same.

My asummption may be wrong but all these info can be found from the announcement report from hibuscuss if you read carefully. My hibiscus share is about 10%of my stock portfolio, I increase to 25% yesterday and think its enough for my risk mgmt and will keep for long term ias long as oil price remain > usd 55.

So let's assume they raise 1 more tranche with size same as previous pp, the total shares be diluted about 53% from 1500m+ unit shares to 2300m unit shares. However, the net profit from this deal will be100%.

The PP done ald raise about rm200m and cause the unit share increase from 1500m to 1900m. 200m from this pp + estimated 300m from repsol asset on 2021 + internal generated fund + Bank borrowin/ 1 more pp tranch ald sufficient to close this deal.

Overall, the net profit from this deal will double hibuscuss net profit.

Base on the disclosed q1 results, these repsol asset net profit is about rm50m+. Oil price sold not disclosed but I think it shall be almost same as hibuscuss at around usd60.