U don't even know the quantum of the losses. Say out the figure! Lol U don't know

Lol, how big? See another idiot! We all know there will be losses. Don't talk as if U know. What's the quantity of loss?

More panic is a good sign to buy. The stock go higher the forum is more quiet. Stock down every Tom dick and Harry will give their opinion. Good sign to buy

Panic more panic. Yes good sign. JoshuaMS7 tomorrow limit down . How how how? Cry lo

Bought 80k @ 1.50. See you all in a year's time. Is wasting time here. Herd instinct

Bought 80k @ 1.50. See you all in a year's time. Is wasting time here. Herd instinct

See how they spread fear.... See!!!ppl like that are losers on life. Bet U he does a 9-5 job earning rm3-4k

Continue to sound panic and fear, that's the time to buy

Rm100k is kacang Putih but is still my money. All in at 1.50. My money my business. I am happy with it

So so so much fear. I will be in the mkt buying today. Rm100k standby. Sell to me if U are afraid.

Just hold it since U dy hold so long. Why cut now? Don't let panic set into your mind

IEA Cuts Oil Surplus Estimate, Sees Market Balance in 2017
By Grant Smith - Jun 14, 2016, 7:14:31 PM

3:50
June 13 -- Edward Morse, Citigroup's global head of commodity research, discusses the outlook for oil markets with Bloomberg's Joe Weisenthal, Scarlet Fu and Dani Burger on "What'd You Miss?"
The global oil market will be almost balanced next year as demand continues to rise faster than production, while the current oversupply is much smaller than previously thought, the International Energy Agency said.

The surplus in the first half of this year is about 40 percent smaller than estimated a month ago, as consumption proves stronger than expected while disruptions reduce supply, the Paris-based agency said. Still, the “enormous inventory overhang” that accumulated during years of oversupply will limit any significant increase in prices, it said.


“At halfway in 2016 the oil market looks to be balancing,” said the agency, which advises 29 nations on energy policy. “Less oil has been stockpiled than we originally expected” as “oil demand growth has been significantly stronger” and “unexpected supply cuts” strained the availability of crude.

Oil prices in New York have surged about 80 percent from a 12-year low in February to trade near $48 a barrel as production retreats amid investment cuts, wildfires disrupt operations in Canada and militant attacks hit exports from Nigeria. Prices tumbled last year as OPEC refused to concede market share to a crude surplus triggered by years of booming shale oil output from the U.S.

Supplies outpaced consumption by 800,000 barrels a day in the first half of this year, the agency said, having estimated that difference at 1.3 million a day in last month’s report. In the second half, the market will be balanced as a drop in inventories in the third quarter counters another increase in the fourth. The rebalancing of the market may be delayed if halted supplies in Canada, Nigeria and Libya are able to restart, the IEA said.

“Overall, this is another bullish IEA report” that points to “clear light at the end of the tunnel and oil prices well above current levels,” Oswald Clint, a London-based analyst at Sanford C. Bernstein, said in a report.

2017 Outlook

In its first published estimates for supply and demand for 2017, the IEA estimated that global oil demand will increase by 1.3 million barrels a day next year, the same rate as this year, to reach 97.4 million barrels a day.

Production outside the Organization of Petroleum Exporting Countries will grow by a “modest” 200,000 barrels a day, with gains limited to Canada and Brazil. While U.S. shale oil production will start to recover by the middle of next year, average output for 2017 will be 190,000 barrels a day lower, after falling 500,000 a day in 2016. Global inventories will decline by 100,000 barrels a day through the year, the IEA said.

As growth in demand exceeds non-OPEC supply, more crude will be required from OPEC. The organization will need to provide an average of 33.5 million barrels a day next year, about 900,000 a day more than the 32.6 million a day its 13 members pumped in May, according to the report. Iran, now the fastest-growing OPEC member as it restores exports curbed by international sanctions, may boost output by 100,000 barrels a day next year to 3.7 million a day.

For 2016, the agency raised forecasts for global oil demand by 100,000 barrels a day on stronger U.S. fuel use, and cut projections for non-OPEC supply by the same amount. Global oil supplies suffered their first “significant” contraction last month since 2013, falling 590,000 barrels a day from a year earlier as a result of spending curbs and unplanned outages.

More articles on Oil

All of you take some rest la, go play with your children or go out with your friends. PLs....chill la

Agree with Mohammad Jeffrey. Well said. Too many ppl planting fear here. Some even compare with hibiscus....

No need panic la, this stock won't go bust! Just hold and chill la bro.

U guys are idiots! Panic than sell la

It will be 3.00 again, just hold, long term. Don't buy with margin or borrow to buy

Sell sell sell, panic than sell! Can't sleep than sell!

Is time to buy! All U ppl here are panicking! When retailers and punters panic and start looking at chart, that's the time to buy

Sona mngt why are U so quiet after the EGM?

Maybe wait longer you can become king

Philip31 another naive piece of shit

And you are not God, don't try to predict the future. I seriously don't need you shit ppl to tell me when to buy and sell. Thanks but no thanks

I don't care if it goes lower. I am happy with rm1.50. Don't try to time the mkt. I buy and I keep for years. Not like U ppl who think U can time and beat the mkt. Get a life! There is no easy money. Go and work and spend time with your family. Don't feel good than don't buy.buy dy than don't worry. Believe and go for long term

Pay us back! U screw up and U want us to wait

Waiting at 1.50, PLs give me

Can't take it don't see don't but don't punt don't invest. Just go somewhere else

Lol.... So much fear.... So so typical investors and punters

Another 20 cents from here should be near bottom. Good time to accumalate

Penny on skpetro are only mentioned by ppl who don't know the market and the company. Don't waste time on these ppl

Cooling is not cool at all, definetely a bad investor or a punter. Hopeless

Can't take it sell la. Don't stress yourself

Can't hold PLs sell sell and get lost. This is no casino!

1Q results should be out end of this week. Expected to be bad but not as bad as last Q and slightly below consensus. Best time to accumulate below 1.60. Long term stock, not for contra players

Wah you guys are so short term. Can't believe you track the stock daily.

Ok results are bad but subsequent results should be better with current oil prices. This is an opportunity to accumulate, but if you have no holding power than PLs pls pls don't even buy

Don't worry folks ...

Buy now limited downside. Good stock too hold

Sayonara sona

Bye bye sona....

Serve them right for not supporting the stock above cash value. Bye bye sona.

KUALA LUMPUR: Sona Petroleum Bhd, whose shareholders on April 26 voted against the proposed purchase of the Stag Oilfield in Australia, has been notified that the sellers - Santos Offshore Pty Ltd and Quadrant Northwest Pty Ltd - have terminated the sale and purchase agreement (SPA) with immediate effect.

The special purpose acquisition company, which has until end-July to complete a qualifying acquisition (QA) or risk being delisted, told Bursa Malaysia that the agreement was therefore terminated from June 2.

Sona had earlier sought to buy 100% interest (plus operatorship) in the Stag Oilfield, an offshore Western Australia oilfield which was already producing oil at the rate of 4,600 barrels per day as at June 2015, for US$25mil (RM104mil).

One of the conditions precedent to complete the SPA is getting the approval of Sona’s shareholders for the proposed acquisition.

Sona’s shareholders had on March 30 adjourned its EGM that was supposed to decide on its proposed QA.

In April, prior to the adjourned EGM, the company proposed a revised capital repayment to reward its shareholders should the QA be approved. under the revised plan from the management team, The proposed cash distribution had been fixed at 8 sen per share compared with 0 to 7.1 sen previously.

Despite the sweetened deal, 77.39% of the total number of votes cast at the adjourned EGM on April 26 were against the proposed acquisition.

Sona has until July 30 to make its QA, as the permitted timeframe would end 36 months after the date of listing.

Thanks

Where and when is the AGM?

Just wait.... Patience is a virtue

Lol, cartoon la U all. If scared don't buy la.

Do us all a favor la Sona mgnt , pls pay now

Crude oil entering bull stage

Wait la, pay out coming soon. If delay there is still interest paid

Exactly!!