watch out contra players.. all shares are in control by sharks.. very few floating out there. buy and hold for long term ...

buy hold for long term :-)

Hopefully it will continue again.. this counter needs to hold long, the floating shares in the market is very less when it want to move you really need to catch it fast.....time to go hibiscus..

Why follow the news? Look at the company fundamental and it's cashflow??

join the gang again since these few days so hot on this counter... huat arr...

Today news - Norwegian Ministry of Petroleum and Energy Approves Acquisition
of 4 Production Licenses by Lime Norway.... again, if big fish does not want it move they will keep pressing it down.

20plus % premium consider cheap?????!

for sure there is a hope but pay more and it will affecting the future earning. Unfavourable for SPAC now is MYR Forex badly drop, crude oil up, change of economy sentiment, bad timing. The Cliq management have to work extra hard... they have 2.5 years to go .... unlike Hibiscus they have been through the stage of QA and mid of Oct they are ready to drill the well at Oman.

due to forex exchange indirectly the company value depreciate at least 7-10% already. Oil and Gas is based on USD ...

based on people(leadership quality), technology and asset

btw, tomorrow is EGM and AGM of Hibiscus. with this news many ppl are so excited now.

Thank you happy88

time will tell as long as you already a long term shareholder in this company.. Do not require to convince new shareholders to speculate on the TP like other SPAC speculators asking to buy either S or C. there are less than 15% shares floating in the market if any good news then the long term investors will benefit here.

Oil up.. Forex weak Sona pay more for acquisition.. expert pls comment if it is not logic..

FAST_5, if it drop somemore i believe a lot of ppl want to accumulate it. the big fish does not want too many little fish in this game. Sell it now if you think it will drop further. .. :-)

Agree with happy88 if you read the annual report then you will know all the upcoming milestones.

only value investor see the future potential. if no confident then better don't enter... be their shareholder(own part of their company)... do you know that 86.13% of their shares own by their top 30 big fish.. 2012 was 85.9%... market floating is low...

BOH LAT... Sad day....

if tomorrow break the support of 0.36 then u will see further down...

happy88, no this is the probability to strike oil. The Total US$m is based on the concession value from each location e.g: Masirah,Middleeast, VIC/57 & Normay

Probability of success (%) Share price (RM)^ Total (US$m)
11.5 (Worst Case) 1.30 310
13.6 (Base Case) 1.50 366
15.0 2.40 624
25.0 3.00 795
50.0 4.60 1223
60.0 5.20 1395

Congrats happy88!

Worst Case
Base Case
Probability of success (%)
11.5-rm1.3
13.6 - rm1.5
15.0 -rm2.4
25.0 - rm 3
50.0 -rm4.6
60.0 -rm5.2
Share price (RM)^
1.30
1.50
2.4
3
4.6
5.2
Concession Value
Masirah
106
106
106
106
106
106
Middle East Concessions
156
212
470
641
1069
1241
VIC/57
31
31
31
31
31
31
Norway
17
17
17
17
17
17
Total (US$m)
310
366
624
795
1223
1395

Yes, you are right. It can't give the target price because this is a probability game. if Probability is 60% it will worth RM5.2. Worth case RM1.3. So this is a good guess involve a lot of knowledge, and 'Luck' to strike oil.

Chengyee, this is from UOB Kay Hian. the other 20+ pages from RHB Invest

follow the majority... Huat Ah. :-)

to be save buy mother shares. Why warrant so high premium because the share price is cheap(not value)? Unless there is big fish coming to buy else 1bil+ shares quite difficult to digest by retailers.

“Explore, drill and dispose”. We understand from management that HIBI would be selective in investing in the production of some of its oilfields given the huge capex involved. We note that the production capex for the Block 50 Oman oilfield could be as high as US$2b. Therefore, the company intends to focus on the exploration phase and once discoveries are made, it will dispose of (part of) its concession stake in order to recover some of its initial investment. While this could result in a lower share of profits from future production, this business model would allow HIBI to free up vital cash flow and allow the company to pursue more exploration activities.

Share Price Catalysts
· Rex Intl IPO well-received in Singapore. While HIBI does not own any stake in Rex Intl, the successful listing of the latter at a higher valuation could create a positive spillover effect on the share price of HIBI, as the business models of both companies are very much alike.
· Successful drilling effort at HIBI’s Block 50 in Oman could prove the viability of Rex Technology in the exploration stage and potentially realise the recoverable resources at its other prospects. According to management, in general, the value of the concession could be assessed based on US$5 per barrel of oil, once the oil field is proved to be commercially viable.

Risks
· Reliant on Rex Technology in oil discovery and well location estimation. As Rex Technology’s proprietary exploration technology has not been commercially proven, any failure in the upcoming drilling activities could erode investors’ confidence in HIBI’s future exploration.
· Prolonged slump in oil price prompts National Oil Companies and International Oil Companies to hold back on heavy capex spending on production.

Hibiscus Petroleum (HIBI MK) NOT RATED
Price/Tgt: RM1.47/N.A. Mkt Cap: US$206m Avg Daily Val: US$0.1m 1-Yr Hi/Lo: RM1.89/RM1.33

In Pursuit Of Deep Sea Treasures

What’s New

We understand that drilling on Oman Block 50 (HIBI’s 35%-owned associate, Lime Petroleum Plc (LIME), has a 64% stake in this block) is scheduled to commence in Sep 13. As Oman Block 50 has an estimated 200m barrels of prospective recoverable resources, striking oil is key to the rerating of HIBI’s share price. On the other hand, HIBI’s JV partner, Rex International (Rex Intl), will be listed on Singapore Exchange’s Catalist Board on 31 Jul 13. Should Rex’s IPO listing be well received, there could be a positive spillover effect on HIBI’s share price.

Investment Highlights

· Drilling plan in Oman Block 50 on schedule. We understand that LIME has secured a drilling rig for Oman Block 50. The rig is expected to be delivered in August and drilling will start in September. With this, we expect HIBI to announce the drilling contract soon. This new development is significant for HIBI as the company’s operations have yet to break even since listing, due to the long gestation period of the O&G exploration process, which typically requires several years (72-114 months required under conventional technologies but Rex Technologies has shortened the exploration process to 18-60 months). We understand from management that LIME has sufficient funds to drill at least the first 2 wells on Block 50 in Oman. The total cost for the first two wells is estimated at US$40m-50m. Successful drilling efforts on Block 50 could enhance investors’ confidence in Rex’s technology and management’s execution capabilities.
· Rex Intl: A larger version of HIBI. While Rex Intl would be a much larger company upon listing (US$420m based on S$0.50 IPO price) as compared with HIBI (US$207m), the business model and assets of both companies are very much alike. LIME (65% and 35% owned by Rex Intl and HIBI respectively), with four and five exploration licences in Middles East and Norway respectively, is the most significant asset of both companies. However, both HIBI and Rex Intl have different exposure in terms of development assets, with HIBI focusing on Australia though its 13% stake in Australian-listed 3D Oil Ltd, while Rex Intl’s operations are based in the US through its partnerships with Loyz Energy and Fram. Given that HIBI's and Rex Intl’s shares of assets under LIME make up 85-95% of their risked NAV estimates, the share price performances of HIBI and Rex Intl are expected to be highly correlated.

· Schlumberger veteran to head Hirex. To recap, HIBI formed a JV company, Hirex Petroleum, with Rex Intl in Mar 13 to seek exploration assets in the Asia-Pacific. On 1 Jul 13, Hirex appointed Ainul Azhar Ainul Jamal to be the Executive Director of Hirex. Jamal has had an expansive career with Schlumberger since 1984, which includes field experience on land-based and offshore rigs in Australia, New Zealand and Indonesia. Among the positions that he held in Schlumberger were Managing Director of Schlumberger South East Asia, Global Human Resource (HR) Director of Schlumberger’s seismic business and Group HR Director. In 2010, Jamal was appointed Chairman of Schlumberger Group of Companies, Asia Pacific. The appointment of Jamal would be key to achieving Hirex’s target of identifying 20-40 concessions each year, which would need to be crucially established in order for Hirex to make at least three investments p.a..

Our View
· Timing is crucial in maximising investment returns. Although speculative in nature, 3Q13 could provide a timely entry to HIBI, as the company is planning to initiate drilling activities in Sep 13. We reckon that there is a high chance of it striking oil, which would initially lift the share price. Should the reserves prove commercially viable, the shares could provide manifold returns to shareholders.
· The table below illustrates the possible fair value of HIBI based on the different probabilities of success on its Middle East concessions, assuming that the value of the concessions is assessed based on US$5 per barrel of oil:

Hi Harvard57, all counters have their own risk including nestle, Maybank and etc blue chip that you mentioned. We would appreciate if you can share with us the facts or something that can be quantified to prove it so that we can study it together. Thanks

Hibiscus calls for EGM and AGM meeting on the 20/8/2013.

Harvard57, i dont think a lot of ppl are making joke before the recent ppl started it. :-) We are serious investors who sharing and monitoring the progress.If someone do not follow sure will not know the progress of this company please study and do research on it. www.hibiscuspetroleum.com

premium is 20+%.. the SPAC Warrant premium is too high...

If you are short term contra players please stay away from this counter.. This will not move until announcement on the found oil news. It has been sideway for more than a year.. For those who subscribed the spac until now be able to tell this is a great counter to hold for long term.."provided it found oil"

Moreover, they recently acquired the 3D oil which it listed in Australia Stock exchange. It is no longer the Spac anymore. The future earning and revenue is crucial to determine the company's performance. Few more month later will know the result. The SPAC now is not easy due to external factor like crude oil price, currency exchange and blar. If remember correctly the acquisition of lime petroleum is roughly based on 80plus per barrel crude oil price range and now is 100plus. On the other factor this is a niche business, if few spac companies from malaysia to acquire the asset from global market do you think they will get the under value asset?

After REX list in SGX, it is a chain of stocks movement. Study on which are the few... :-)

so this is speculate nothing concrete. better watch out. the crude oil price is expensive now compare to other SPAC counter has done before. if the management desperate to find the business you better get out from here. quite surprise that CLIQ-WA is 30% premium but the price still go high...

:0) I am the member here.. see lot of funs and jokes here... this price movement is to let short term players go far far... the substantial shareholders can smell the contra players here..(only 14.3% of the shares are floating in the market) .. if no holding power better pick other counters.

the whole process will take years to see the gaining so no surprise to see it'll takes >12 months... moreover currently it is not favourable for them because of the crude oil price is increasing hence deep analysis is required.... any mistake on the acquisitions let say over value asset then it will affect the future earning ...

Thanks happy88... you are very active. My concern is there are so many positive news out there but it still moving sideway. Unlike some other counter, just get a small amount of contract at Indonesia the price fly to sky high..

hopefully slow and steady then later like rocket sign...

Happy88.... Thanks for sharing and exchanging the information!! We are on the same boat... :-)

Yes, agree .. should keep it. The contra players will contribute more losses.. looking for the entire year trend the trend it let the short term/contra players suffer.. you can't predict it based on the TA. Hold it and let the day come.

too many contra and short term players here. pretty hard to 'fried up'.. so many sellers are taking profit... this counter is difficult to catch when it is up or down. you know how to read the TA but the big players even better to make money from short term player who does not have holding power.

Thanks for sharing it happy88...

SCHLUMBERGER VETERAN TO HEAD HIREX PETROLEUM
Hibiscus Petroleum’s jointly-controlled entity appoints Ainul Azhar Ainul Jamal as Executive Director

good news if small fish unloading.. get cheaper from them too.. waiting for it.

Whatever name they change still can't change the fundamental unless they have good business transformation plan.... it is a sinking boat..

Please sell ... no good news anymore. why keep it? (You dont know someone love to buy your shares...) Sell it hard.. not worth to keep anymore.

The June and July these two months are drilling the two wells at Oman. sept month I extended test for the well and start the drilling at RAKS onshore. Thi is per the project plan they presented to shareholders in March 13

Speculative counter. Warren B: "A public opinion poll is no substitute for thought..."

Check out here.... all the company announcement and press released : http://www.hibiscuspetroleum.com/press.php?content=press_release#menu_ir

They have great management team and keep all the shareholders updated on their progress. It is well manage company and share price will not move without a solid achievement.... stay tuned to see how it move up the price...Traders are highly not recommended for this counter.