...
naik sikit, jatuh banyak, naik sikit, jatuh banyak

...
So many DickyMe(e)(e)

I fly with Airasia most of the time before Covid-19 as their prices are much cheaper than major airlines...love AA...getting me to far destinations at affordable prices.

But, under current circumstances, hard to justify to dump my hard earned money in AA shares...at least not right now as the rock bottom limit could still be achieved. How low is low? Nobody knows but for sure the potential to get as low as AAX is there if Covid situations get worsen with the Indian mutation, limited air travel, continuous losses in the billions every quarter etc etc. My worry is how effective is the current vaccination against the new Covid mutation in India...

...
Whatever you do, be content with your decision.
If you enter at 0.90 & the price drop further down, don't be cursing etc.
If you wait at lower price 0.60 & it never gets that low before price rebound, don't be regretting etc.
Or you can strategize buying at every steps & average down until you run out of bullet.

Whatever approach you decide, as long as you have your basis, this should help you sleep well at night.

KP8888KP - I like !

tomtom8388....see below....kena tunggu further details - below from the attachment. Mesti kena ada EGM to approve this proposal. Dateline before 31/12/2014 (+ 30 days extended period).

The sale, purchase and transfer of the Sale Shares under the SPA are
conditional upon the following:
-
(a)SUMATEC being satisfied with the outcome of the technical, operational, legal and financial due diligence review carried out by its
respective consultants and advisers on BORNEO, Buzachi Neft and the Subsurface Use Rights as well as the satisfactory evidence that the valuation of the Limestone Production Quarry is valued at least USD25.0 million by an independent value.

(b)
SUMATEC obtaining the following:
-
(i) the approval of the shareholders of SUMATEC of the Proposals in accordance with the Main Market Listing Requirements of Bursa Securities;
(ii) the approval of Bursa Securities for the listing of and quotation for the Consideration Shares being obtained by SUMATEC on the terms satisfactory to SUMATEC;
(iii) SUMATEC being satisfied with the fulfilment of all the obligations under the general credit agreement entered into between BORNEO and BTA Bank JSC, as well as the associated pledge agreements and the termination of these agreements upon mutual consent between the parties;
and (iv) the approval of the relevant anti-monopoly regulator in Kazakhstan for the indirect acquisition of the participating interest in Buzachi Neft.
.

shukor78 / komnas...looks interesting kalau nak subscribe....kena prepare cash la nak exercise.

shukor78 / komnas....see my comments to tomtom8388 as above....same issue

tomtom8388...my opinion lah. Theoretically, under normal circumstances, RI will flood the market so share price will go down. But, if already keluar PN17 or close to keluar PN17....even though more shares in the market, there'll be bigger potential buyer...all those fund yang byk duit EPF Tabung Haji this and that fund house yang before this cannot go in coz PN17...now they can come and eat the shares big chunk....so, price have the chance to maintain or increase even the RI flood the market....

Depends la...when the rights keluar, kalau masa tu all the nig fund house see Sumatec's value....they'll buy and they'll buy big. If I'm in Sumatec's management, I would ensure my strategy will be to make me look good so that these big fund house wants to come and invest. As an outsider..I like what I'm seeing in Sumatec's Business Plan....what I call a "mini-Petronas".

My opinion lah....if I can predict all these accurately, I don't have to work anymore....just something that makes sense to me.

desmondsona:

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1724937

desmondsona:

"In view of the technical requirements to install artificial lift pumps on a number of wells, the Company as a result has seen a delay in bringing some of the wells on to production. Barring unforeseen circumstances, the Board anticipates that the net profit of the Group for the financial year ending 31 December 2014 may fall short of the forecasted net profit of RM69 million."

THE KEY INFO IS THIS....

"To address the situation, management will deploy all available resources to expedite completion of the remaining works under
the workover program, install the artificial pumps and conduct production enhancement on each well, and adding more wells into the workover program."

This will bring back the forecasted production to planned.

Chartmaster....kita learn new things every day chief....I kerja O&G, ada la sikit experience...also learning from you guys jugak from other industry as well as the TA / chart experts.

dd128 - right on !!!

Markmenship...I have an easy suggestion for you...don't have to lose sleep over it as well...just exit Sumatec....stay in touch...then, in the next few months you can condemn this train for investing in Sumatec. But, if we are right, I will not say anything coz I already give my point of view.

Markmenship...if Halim Saadstarts disposing then I would be worried.....if others, they can do what they want to do, they put money in it buying at cheaper price, why not sell some to gain profit to supplement their lifestyle....honestly, once Halim Saad disposed his shares, I will exit also because that shows that Halim Saad doesn't trust SUmatec's business plan. Until then, as forme,so far things are looking good...

Now Marksmenship...are you going to look at this one dimensionally? CYP and Wan Kamaruddin are from the old train....Simu Noraini talked about this way way back, you can check her history posting....

FUTURE OUTLOOK people...FUTURE OUTLOOK.....if you look Sumatec beyond 2014...then you can sleep at night as what they are doing is what I would consider a "mini-Petronas" punya strategy. That's why it's a mid-long term investment counter....if you want to contra...it's like playing darts lah, untung sabut timbul, untung batu tenggelam. Look beyond 2014...Sumatec Business Plan for 2015 & 2016 is very positive.

noorgreen - sharing is caring in this Sumatec train

Markmenship....it's ok, you don't have to put your money in Sumatec. Nobody is obliged to. People buy shares of a company for it's FUTURE, especially when it's cheap like this....a few hick-up here and there is OK as long as it's heading to the right direction......hold on, I want to remind myself why I invest in Sumatec. By the way, I do make comments on the O&G counters in i3investor forum, when there's technical discussion going on....

TIME TO REPEAT MY OLD BROKEN RECORD AGAIN....

REMINDER TO SELF: why do I invest in Sumatec?

1) Sumatec is now debt free.

2) After 2 consecutive quarters of profit, Sumatec can apply to be out of PN17 - whether get or not, up to Bursa, but usually apply saja, price can go up. Q4 2013 & Q1 2014 showed profit already. Q2 2014 also showed profit. As per CEO Dalton, Sumatec will submit application to exit PN17 in Sept after the Q2 2014 report.

3) The workover program still not finish yet. Very likely more profit for the following quarters after production from workover & sidetrack infill drilling. Good revenue from Rakushechnoye field...from the current production as well as revenue from the gas sales.

4) Workover on the 12 idle wells already started to increase the production level, Once workover done, they will have 3 sidetracks (infill drilling) from existing idle wells to extract bypass oil. Target production end of 2014 = 2000 bbl/day. By Q1 2015, can have quarterly revenue of RM62mil.

5) Facts from ALL oil field worldwide. If you have 100% original oil in place (OOIP), you can only recover 15 - 20% of OOIP, due to diminishing bottom hole pressure, or water encroaching, or gas cusping, or scaling on the tubings, or block pore space near perforations area. The rest of the bypass oils can be extracted with infill drilling (new wells where the previous wells didn't cover) or workover ( acidizing, frack job, change tubing --- all to bring back production level up).

6) Rakushechnoye field started production in 1974 with 47 wells. Now only 5 wells producing - more to come after workover. This is a proven field, have oil (bypass etc), just need to do some work to increase production level. Recent reserves review by independent body increased additional 10 mil barrels to the field 2P reserves (value at USD$175 mil) without having to pay any additional investment.

7) Year 2015 will see some more work to increase the production level to between 4000 to 6000 bbl/day - from further workover and takeover of additional field (current plan is the Buzhaci - Karaturun fields)

8) Sumatec is now looking into taking over Buzhaci Neft fields (Karaturun fields). Borneo Energy listed 68 million barrels as 2P reserves. Sumatec will have 6 months to verify the reserves etc before finalizing the S&P. If everything is OK, Sumatec will have 2P reserves of 100+ mil barrels (contribute profit $2.5 bil for the next 10 years). If takeover a done deal, workover will need to be done on some of the idle wells to further ramp up production - similar to current Rakushechnoye field, as out of the 26 existing wells on Karaturun, only 5 wells are currently on production. With the experience gained on Rakushechnoye field, the workover program of the Karaturun fields will be relatively easy.

9) I have 17 years in the O&G industry, so why not use my knowledge and skills to evaluate Sumatec game plan...so far, I'm happy......extremely happy.

10) But, this is not a contra counter - you'll be disappointed. Only for mid-long term investment if you want to grow with Sumatec.

11) I have revised my strategy - initially the plan is to unload all my shares after TP is reached. Having observed what Sumatec is doing now, I will now unload 1/4 of my shares after TP is reached. The rest will be for a long term investment, PROVIDED THAT Sumatec management is doing what an operator should do in managing their assets and increasing their proven + probable reserves. Thank God I'm in the O&G, I know what to look for.

Happy investing fellow Sumatecians....the train is really moving. It's good to be patience, ain't it?

missed forecasted revenue target not because the oil is not there...just need a artificial lifts on some of the wells...they'll recover these reserves for remaining quarters production.

savvy KLite, in the report the management acknowledged the shortcoming due to the need to install artificial lift on some of the wells that they initially thought can be produced with with reservoir pressure....once artificial lift installed, they'll recover the reserves that can be booked for the remaining quarters....just a slight hick-up that can be fixed.

Hello capt Looiks...been looking for me is it?

I've read the technical notes....and, so far things are looking positive....they are doing what major operators are doing in enhancing their production. Sumatec we can call a mini-Petronas la...

"The geological and production test data obtained from the workovers have provided valuable information on the well geological and reservoir architecture, which is improving our knowledge on how to develop the field and enhance the production from the workover wells. Based on the updated information and re-assessment, the Company is on track to complete 12 oil wells and 4 gas test wells by 31 December 2014"

"Based on the production tests conducted to date and the reservoir information collected during the workovers, the production level is forecasted to increase upon completion of artificial stimulation, fracking and installation of production pumps at selected wells."

These are all the modus operandi of major oil producers being done by Sumatec on a old mature field. By the end of the day, Sumatec will be extracting reserves as planned...as I said before, confirmed got oil and confirm will be able to produce - just need a bit more work.

Ini macam, the remaining quarters will be profitable as well la...uplift of PN17 coming up !!!

myself, 1) Once the share price reached my TP

I think it's good for us to know what other passengers are thinking or intending to do regarding exit strategy....maybe we might change our own strategy if the masses are heading to similar direction.

Just another "statistical" exercise for the weekend, haha...

I would like to conduct a poll as below fellow investors....please answer honestly, if possible.

When will you sell your holdings in Sumatec?
1) Once the share price reached my TP
2) After Q2 report if positive
3) After Q2 report if negative
4) After uplift of PN17
5) Before Rights for Borneo Energy acquisition
6) After Rights for Borneo Energy acquisition

Glotec has a good investment in hand now....the Coal Bed Methane (CBM) has a good future, especially in the Far East. Glotec's CBM investment in Indonesia has a good potential to give good return.

This counter is now very cheap < 0.13, so for anyone looking for mid-long term investment, this is a good candidate.

Of course I am investing as well, if not I won't bother looking into it....haha. CBM is not as hot as Sumatec's Kazakh black gold, but this one can meletop at one point in the future. I am parking my cash here.....

See the links below - for reference.
http://www.engineerlive.com/content/22359

http://www.indonesia-investments.com/doing-business/commodities/coalbed-methane/item269

http://www.thestar.com.my/Business/Business-News/2014/08/09/Globaltec-to-be-fullfledged-OG-company/

ozzie75, greetings to you too...sekali sekala tu I jenguk la forum bagi moral support, haha.

TIME TO REPEAT MY OLD BROKEN RECORD AGAIN....

REMINDER TO SELF: why do I invest in Sumatec?

1) Sumatec is now debt free.

2) After 2 consecutive quarters of profit, Sumatec can apply to be out of PN17 - whether get or not, up to Bursa, but usually apply saja, price can go up. Q4 2013 & Q1 2014 showed profit already. As per CEO Dalton, Sumatec will submit application to exit PN17 in Sept after the Q2 2014 report.

3) The workover program still not finish yet. Very likely more profit for the following quarters after production from workover & sidetrack infill drilling. Good revenue from Rakushechnoye field...from the current production as well as revenue from the gas sales.

4) Workover on the 12 idle wells already started to increase the production level, Once workover done, they will have 3 sidetracks (infill drilling) from existing idle wells to extract bypass oil. Target production end of 2014 = 2000 bbl/day. By Q1 2015, can have quarterly revenue of RM62mil.

5) Facts from ALL oil field worldwide. If you have 100% original oil in place (OOIP), you can only recover 15 - 20% of OOIP, due to diminishing bottom hole pressure, or water encroaching, or gas cusping, or scaling on the tubings, or block pore space near perforations area. The rest of the bypass oils can be extracted with infill drilling (new wells where the previous wells didn't cover) or workover ( acidizing, frack job, change tubing --- all to bring back production level up).

6) Rakushechnoye field started production in 1974 with 47 wells. Now only 5 wells producing - more to come after workover. This is a proven field, have oil (bypass etc), just need to do some work to increase production level. Recent reserves review by independent body increased additional 10 mil barrels to the field 2P reserves (value at USD$175 mil) without having to pay any additional investment.

7) Year 2015 will see some more work to increase the production level to between 4000 to 6000 bbl/day - from further workover and takeover of additional field (current plan is the Buzhaci - Karaturun fields)

8) Sumatec is now looking into taking over Buzhaci Neft fields (Karaturun fields). Borneo Energy listed 68 million barrels as 2P reserves. Sumatec will have 6 months to verify the reserves etc before finalizing the S&P. If everything is OK, Sumatec will have 2P reserves of 100+ mil barrels (contribute profit $2.5 bil for the next 10 years). If takeover a done deal, workover will need to be done on some of the idle wells to further ramp up production - similar to current Rakushechnoye field, as out of the 26 existing wells on Karaturun, only 5 wells are currently on production. With the experience gained on Rakushechnoye field, the workover program of the Karaturun fields will be relatively easy.

9) I have 17 years in the O&G industry, so why not use my knowledge and skills to evaluate Sumatec game plan...so far, I'm happy......extremely happy.

10) But, this is not a contra counter - you'll be disappointed. Only for mid-long term investment if you want to grow with Sumatec.

11) I have revised my strategy - initially the plan is to unload all my shares after TP is reached. Having observed what Sumatec is doing now, I will now unload 1/4 of my shares after TP is reached. The rest will be for a long term investment, PROVIDED THAT Sumatec management is doing what an operator should do in managing their assets and increasing their proven + probable reserves. Thank God I'm in the O&G, I know what to look for.

Happy investing fellow Sumatecians....the train is really moving. It's good to be patience, ain't it?

The lure of cheap penny stock with O&G ties....seems like folks are attacking PDZ & Glotec.
This is the case of "sama tapi tak serupa".
Good move to punt on these counters - I think for sure can make some money.
But, even though these counters are O&G related, their core income is not like Sumatec:

PDZ - with Efogen - offshore supply vessel to O&G, revenue depends on contract. Talks about venturing into O&G was denied by PDZ management.
Glotec - aiming for CBM (Coal Bed Methane), gas revenue not as lucrative as oil revenue.

In essence, these 2 counters are good to go into...but, I think there's a price limit which porbably is lower than Sumatec, based on their potential revenue.

Happy investing / punting !!

Bila nak naik balik to IPO price kalau mcm ni?

http://www.thestar.com.my/Business/Business-News/2014/08/19/Higher-operating-costs-drag-AirAsia-X-into-the-red-in-Q2-2014/

5mil disposed 11/8...date of notice13/8....we found out 14/8. Any further disposal on 12/8? 13/8? 14/8? we will not know early enough to react...

acyk, this is an old article dated 30-Jul

MAS to be delisted !!!

http://money.cnn.com/2014/08/07/news/malaysia-airlines/index.html?hpt=hp_t3

correction on my statement above....MARA is pumping money to pdz with the intention to venture in the o&g industry via efogen...

Dreamhunter, I think that Rafidah took a huge loan to finance the ESOS...so at that stage, with the interest growing by day, when she saw that she can make and easy RM1.2 million so she cabut la....maybe now she tepuk dahi?

Your broken record sounds nice also, haha

Dreamhunter, Rafidah sold at 30.8

agree with stocking88, PDZ is a mid-long term stock...this counter reminds me of thheavy....tabung haji pumped money into the old ramunia - look where it's at now. PDZ is pumping money to pdz with the intention to venture in the o&g industry via efogen....something is cooking slowly....slow cooking bbq....just waiting for the right temperature before meletup...I'm in !!!

kongcincin, Sumatec is still cheap for a future independent o&g company...you feel high, probably because it was 0.30 about a month back. But, with their game plan, the price has potential to go much higher provided that the management stick to their game plan to purchase and develop proven mature oil fields, especially the cheaper land oil field.

I LOVE REPEATING MY OLD BROKEN RECORD....

REMINDER TO SELF: why do I invest in Sumatec?

1) Sumatec is now debt free.

2) After 2 consecutive quarters of profit, Sumatec can apply to be out of PN17 - whether get or not, up to Bursa, but usually apply saja, price can go up. Q4 2013 & Q1 2014 showed profit already. As per CEO Dalton, Sumatec will submit application to exit PN17 in August.

3) The workover program still not finish yet. Very likely more profit for the following quarters after production from workover & sidetrack infill drilling. Good revenue from Rakushechnoye field...from the current production as well as revenue from the gas sales.

4) Workover on the 12 idle wells already started to increase the production level, Once workover done, they will have 3 sidetracks (infill drilling) from existing idle wells to extract bypass oil. Target production end of 2014 = 2000 bbl/day. By Q1 2015, can have quarterly revenue of RM62mil.

5) Facts from ALL oil field worldwide. If you have 100% original oil in place (OOIP), you can only recover 15 - 20% of OOIP, due to diminishing bottom hole pressure, or water encroaching, or gas cusping, or scaling on the tubings, or block pore space near perforations area. The rest of the bypass oils can be extracted with infill drilling (new wells where the previous wells didn't cover) or workover ( acidizing, frack job, change tubing --- all to bring back production level up).

6) Rakushechnoye field started production in 1974 with 47 wells. Now only 5 wells producing - more to come after workover. This is a proven field, have oil (bypass etc), just need to do some work to increase production level. Recent reserves review by independent body increased additional 10 mil barrels to the field 2P reserves (value at USD$175 mil) without having to pay any additional investment.

7) Year 2015 will see some more work to increase the production level to between 4000 to 6000 bbl/day - from further workover and takeover of additional field (current plan is the Buzhaci - Karaturun fields)

8) Sumatec is now looking into taking over Buzhaci Neft fields (Karaturun fields). Borneo Energy listed 68 million barrels as 2P reserves. Sumatec will have 6 months to verify the reserves etc before finalizing the S&P. If everything is OK, Sumatec will have 2P reserves of 100+ mil barrels (contribute profit $2.5 bil for the next 10 years). If takeover a done deal, workover will need to be done on some of the idle wells to further ramp up production - similar to current Rakushechnoye field, as out of the 26 existing wells on Karaturun, only 5 wells are currently on production. With the experience gained on Rakushechnoye field, the workover program of the Karaturun fields will be relatively easy.

9) I have 17 years in the O&G industry, so why not use my knowledge and skills to evaluate Sumatec game plan...so far, I'm happy......extremely happy.

10) But, this is not a contra counter - you'll be disappointed. Only for mid-long term investment if you want to grow with Sumatec.

11) I have revised my strategy - initially the plan is to unload all my shares after TP is reached. Having observed what Sumatec is doing now, I will now unload 1/4 of my shares after TP is reached. The rest will be for a long term investment, PROVIDED THAT Sumatec management is doing what an operator should do in managing their assets and increasing their proven + probable reserves. Thank God I'm in the O&G, I know what to look for.

Happy investing fellow Sumatecians....the train is really moving. It's good to be patience, ain't it?

sapkenc; of course company with proven reserves is better....less risk. Exploration block means you could hit oil or could be dry hole....usually oil company determine blocks to appraise by looking at seismic data....seismic can only tell if there's a potential reservoir or not....once you identify reservoir, still need to drill exploration wells to confirm fluid type, production rates etc....the reservoir could contain oil or water or gas...

leslieroycarter....your statement remind me of the old malay phrase "katak bawah tempurung". This is 2014,not 2010.....

ambz - no prob, sharing is caring kata orang tu.

easymoney, 10 days to drill exploration well? that's too quick...typically for exploration wells you'll need a semi-sub rig, there'll be time to mob demob, then actual drilling, then completion and then well testing....unless the 10 days is just the drilling portion.

yup...Mara mesti goreng punya, or at least fund yang percaya kat Mara mesti goreng punya.

moneylover, for exploration wells, everything depends on how deep the wells are and how many zones they need to test. On the average, between 30 - 45 days for shallow offshore wells with at least 2 well testing ops.

happytradingz...you think Sumatec already up too much? I think it still has potential to go further up especially once it clears the PN17. But, it's for mid-long term hold and not for contra.

Reach to get via IPO is difficult as only 20mil for ballot....need to kejar upon listing...be careful.

Lightsaber....Sumatec performing better I think mainly due to the anticipation of exiting the PN17 as well as the management business plan to grow into a major independent o&g player. I think that's why people are chasing the stock, especially it's not everyday you find a cheap o&g company which has the potential to grow big. Most of the counters yang plan to keluar PN17 semua kena kejar example thheavy, ho hup. In term of production, Sona will have more volume compared to Sumatec by the end of the year...Sumatec though is going the cheaper route to get their reserves...right now debt free...plan for cash & rights to purchase a new field....but, for me, both Sumatec and Sona are good potential for mid-long term investment. Just let Sona finalize their QA....then once the dust is settled, we'll see how.

derrick....i think sumatec is less risky - land ops, mature proven oil field, existing facilities plus if need to add anything else it'll not be as expensive as offshore ops, ready buyer via existing pipelines.....sona not that bad also, good production from the producing block - for sure steady income for the next decade.

moneylover / topaz....I ni org lama in o&g, so ada la sikit-sikit knowledge

mk88, since it's an exploration block, the chances is 50-50. G4/50 block has a potential accumulation zone (i.e reservoir). But, seismic data cannot confirm fluid type 100%, so they still need to drill exploration wells to confirm. Since close-by blocks have oil accumulation, so there are "source" rocks beneath the reservoir...if I have to make a guess, there should be oil accumulation in the G4/50 block - it's just a matter of whether the volume is big or not to produce commercially. Personal opinion, Sona will strike oil in G4/50 block - they might have the same scenario with strong water aquifer...but, they'll be able to handle that based on the experience on B8/38 block.

This is not a buy or sell call, haha, but I am buying.

Now is the time to collect Sona...before the price movement once the QA is a done deal. They will have a producing block as well as an exploration block. If they strike oil in the exploration block, more reserves will be added without having to pay anything extra. Maybe some quarters are "worried" that Sona will have to take up a RM445mil loan....I think they forget that the loan can be serviced right away with the existing productions from the B8/38 block.

Remind me of Sumatec's situation between Jan - July 2014, price remain stagnant between 0.26 - 0.28 and everybody was pissed....then, price starts moving, suddenly semua mahu kejar at the bit higher prices...better to save the headache and accumulate when people are not chasing. My 2 cents.

at this point, technical justifications on Sumatec field and potential acquisition don't matter anymore....Sumatec is a super HOT stock now that even my mechanic was talking about buying into Sumatec...not to mention about the 2 old timers apek & his old malay friend talking about Sumatec when I was having my kopi-o this morning....So, I just keep quiet la until any further updates on the workover & new acquisition. In the meantime, it's nice to see those paper profit growing and growing each day, haha.

But, point to ponder, Sumatec is targeting 30,000 bbls/day by 2018 ~ about USD 328m/year (+/- RM 1 billion). Does this mean I am going to keep my holdings until 2019 where sky is the limit for the share price? Or stick to my TP and exit entirely? It's true when people say it's easier to buy than to sell.

For me, there are 2 major milestones that needed to be closely looked at (excerpt from NST):
1) "Meanwhile, Sumatec is expected to move out of its PN17 status by next month and will submit its application to the Securities Commission soon."

2) "It is also acquiring Borneo Energy Oil and Gas Ltd, which owns 100 per cent of Buzachi Neft LLP, for US$250 million in cash and shares." "At a recent media briefing, Sumatec chief executive officer Chris Dalton said he expects the acquisition to be completed by October."

I've checked Buzachi Neft fields...if the data available in the public domain is correct, then it's a done deal, Sumatec will puchase these 2 fields - similar modus operandi, go into a mature field to extract the remaining reserves by doing workover and infill drilling (bear in mind, Sumatec will have more detailed data to make their decision - production data, pressure data etc - maybe it's not as rosy as what can be seen in the public domain). Buzhachi fields were operated by Buzachi Neft, JV with Chinese & Russia's LukOil companies before - and all they've done was primary recovery...there are potential for secondary recovery with workover & infill drilling. Furthermore, these are all shallow wells, only 550 - 600m depth in Aktau region - cost for infill drilling will be cheaper.

How high will the share price go up with the uplifting of the PN17 status?
How many shares will be floated in the market if Sumatec uses the rights issue to purchase the Buzachi fields....will price go up? or down? Should I subscribe to the rights or not - if I believe in Sumatec's game plan, then it's wise to fork up some more cash to exercise the rights, getting more shares at lower price.

I thought it's a done deal when i achieved my targeted volume...no need to think anymore and ride the Sumatec train with capt Looiks and the rest of Sumatec hard core supporters....looks like have to do some more thinking and evaluation.

By the way, Selamat Hari Raya Aidilfitri to all Muslims in here.

http://www.nst.com.my/node/18717