thumbs up kengfp! :-)

Chrollo, when you bought at 0.315, at that point, it was 50-50 chances, could go up or down...had the price gone up, you'll be feeling good now. But, the price is now at 0.265, and as a human, you have the entitle to feel a bit down. But since you are in a stock market, you already know sometimes the short temr price movement is out of our control...so, just stick to the long term game plan :-) it'll give us a bit peace of mind :-)

typo, .......what is not meant for you is not for you....

Chrollo, but nobody can predict price movement in stock market...people say buy low sell high, but how do you know what price is low? and what price is high...so, I think the best strategy to keep our mind sane is to put a buy price range and sell price range...as for me, i buy at my target buy price range, and sell at my target price. If sell TP goes higher than what I sold, so what can I do? Sometimes have to accept that what is not menat for you is not for you...and accept whatever profit we can get....if not, how to have a peace of mind maaaa.

if it's for mid-long term investment, whether 0.30 or 0.34 doesn't matter if your TP is say 1.50, right? It's just for that warm and fuzzy feeling that you have a paper profit etc. For Sumatec, if you already have your TP, then just stick with it as we know that any significant movement will be when it's close to exit PN17 time.

most major operators will abandon the field when they drill their 1st dry hole - just too costly to drill additional well without any potential oil show, unless it's stipulated in the agreement with the government to drill additional wells - usually government wants to have data set for future use...

this is an exploration project, hence, when selecting the first well, the geologist/geophysicist always pick the best spot for the first well. If there's no show or oil cannot commercially be produced from the first well, then chances are the 2nd well will also have a dim prospect.....

damn guys...the oil offshore Oman is not bitumen, it's crude oil. Bitumen, tar sand ni semua onshore where they are at surface and are MINED not drilled. These kinda talks make someone like me in the O&G industry sick, just like after watching that Armageddon movie where they try to drill a hole to plant a nuke in the asteroid...doesn't make sense. Here's some info on bitumen, tar sand for your info:

http://www.cnbc.com/id/100641619

This link below is for those doubters saying that Sumatec punya field don't have minyak. To summarize, average Recovery Factor (RF) worldwide fields is about 22%. That means still have 78% of original-oil-in-place down there. But, can we recover the rest of the 78% of original-oil-in-place? No. With current technology (infill drilling, EOR - enhanced oil recovery), we can probably get additional 20 - 30% depending on what have been done in the first phase of production (solution drive). Sumatec's field Rakushechnoye is an old Soviet field...I doubt that the Soviet did any pressure maintenance during the production life...so, Sumatec's strategy is to extract bypass oil by sidetrack drill infill wells from existing wellbore to area not covered by current existing wells and to do workover on old wells in order to increase production. Best guestimate how much more they can recover probably additional +/- 15-20% of original oil in place. That will be revenue to Sumatec's pocket....Sumatec also plans to add additional fields in the future, so investors should hang on to Sumatec for the long term.

http://www.ogj.com/articles/print/volume-105/issue-41/exploration-development/global-oil-reserves-1-recovery-factors-leave-vast-target-for-eor-technologies.html

DickyMe, I am not a civilized person dude, I'm an oil field thrash who curse a lot when I'm on a rig. I don't work in a tall building wearing a nice suit, shiny shoes etc etc. But, nothing wrong with that, I don't have to pretend to be who I am not...my education is from the great state of texas where all the rednecks there taught me how to curse and spit tobacco. But, I do know when there's a good money to be made in the oil field. I think secretly you also buy Sumatec shares, hahaha, but remember, any investment here is for mid-long term OK.

DickyMe, what la, human is human, civilized is what Western society wants us to be...we are not Western society...maybe a lot of us wannabe in the Western society. This is Malaysia...if people wants to curse you, they will. Nobody has any obligation to be polite in a forum where nobody knows who you are. If face to face interaction, people will be polite to each other. You hide behind the intrnet mask to make comments in here, people who doesn't like your comments, will use the internet mask to curse you....in the end, you as a person got cursed by other people in here. If you as person like to be cursed like that, hey, by all means can always go ahead and taunts the guys here.

DickyMe, I understand one thing...people who invest in Sumatec hold this company dear to their heart....right? So, if someone come into your house and start saying the sofa is ugly, the curtain looks shitty, you make a bad decision to choose the wall color...you think you, as the owner will just smile with hugs and kisses? You = DickyMe = sundar come in here taunting other people...then DO expect people who holds sumatec dear to their heart (because already put their hard earned money in here) to retaliate in whatever curse, or jokes or, ridicilous names they call you...all becaus of your own actions....in essence, you as a person got cursed by other people. The name might be DickyMe or sundar or whatever, but you who've been typing all these are getting the curse, ill thoughts whatsoever....hey, who knows maybe some of the investors here practise black magic....next thing you know something is not functioning in your body.

vroompower99....itu BS la, sudah ada production history produced minyak ma, so ada minyak for sure. Everytime you produce minyak, gas mesti keluar mah, they call this Gas-Oil-Ratio. Oil (being liquid) buried under certain depth is under overburden pressure, as you drill well, and you bring the oil to surface, expansion akan results itu gas to keluar. So, in an oil field, whenever you produce the oil, you will get oil and gas at the same time. 100 barrel of oil down hole say 4000m deep, when at surface sudah tinggal maybe 85 barrels (for example). The other 15 barrels sudah jadi gas pasal sudah keluar solution. Sumatec punya field is an oil field...so ada minyak. Objective now is to extract the bypass oil as well doing workover untuk increase existing well potential production.

DickyMe, if the strategy is mid-long term investment, why should a 1.5sen drop bothers the investor? For punters maybe la....you are here just to taunt peple or what? Investors should not even worry about this, if have extra fund can top up, if not just let it be...if you invest in ASB or ASW2020, do you take out your money after few weeks? chill man, if you want to make taunting comments, put a remark that sday who is this comments for. Don't make me even lose respect to the nickname DickyMe = sundar in here laa.

still no news from Oman O&G news site: http://www.youroilandgasnews.com/oman-news.php?region=Middleeast

Whoever ada insider news, manyak powerrrrr mahhh.

westrn companies hold tight to the insider news policy - keep quiet. Malaysians cepat panic and whisper whisper.

looks like people with insider connection already sudah jual...wonder what's the news, I'm really curious now...

wow...1.88 now, must be some bad news with the results of the well that they drilled. No official news, sudah leak somewhere.

Malhi Diljit, if you want to invest in Sumatec for mid-long term, it's a good idea. I can post info on what I think based on what they are doing. But, for swing trade, i don't know la, have to ask TA experts like Noraini etc.

DickyMe = sundar? buang masa saje mahu layan la. Continue living in your conspiracy theory. Halim Saad wants to be super rich again. Conning investor wont be as good as selling oil. Plus nanti orang maki sama dia, mati pun cepat. What he wants to do makes sense. If you are not interested, that's fine. You can keep posting BS remarks in here, you might persuade swing traders, but for people with knowledge, investing is the way to go. Not short term, but mid-long term.

Malhi Diljit, I studied petroleum engineering. Been working in subsurface engineering and drilling engineering.

stargazer1...with yanyana I wear my oil field threash cap mah because that apek talk BS with no facts....with other people, I talk facts and technology.

dragonslayer...I don't know how is Hibiscus field punya nearby facilities. Since it's a new field, they will have to tie up their production line to nearby fields. Offshore is a bit difficult, once you find oil with the first exploration well, then need another well (or a few more) to define the extend of the field. Then you plan the future wells strategy...where to poke holes to maximize production. Typically, for offshore operations, once you strike oil with the exploration well, it'll take about a year or so before can produce and sell the oil (this include drill additional wells to define field boundary, study & simulation work to determine number of wells to maximize production, tie up production lines to nearby facilities). Some field is longer especially the remote ones...in Oman should not be long because have other fields.

Sumatec is a diferent story. It's onshore. It's an old field with existing production facilities. Just nee to drill infill wells and do workoever, then can sell the extract bypass oil right away and can realize revenue.

Sona, Cliq, depends on where they plan to invest...offshore & onshore have different strategies. Remote area will be costing more and longer time. In the middle east where there are a bunch of existing fields, easy to tieback.

To summarize, need to evaluate on case to case basis.

a pleasure to share the knowledge with fellow SUmatec investors !

a pleasure to share my knowledge with you guys. NKN1 is right, whoever has inside info on what they are doing over there in Oman has the advantage for sure....

kengfp, yanyana comes here again, then I'll switch my hat to oil field thrash and talk thrash about that apek, hahaha :-)

Let's talk facts and technology: Why do ALL oil companies drill exploration wells? The seismic data on the field that they own shows that there's a possible trap for oil & gas to accumulates. Offset fields nearby are producing oil & gas...this means that there are sources down there that generates the hydrocarbon. The oil and gas is lighter than water so they migrated up and accumulates in a trap. Seismic cannot determine fluid properties, so you have to drill exploration wells to determine 1) fluid type 2) fluid properties 3) production capabilities. This is what Hibiscus is doing....they have a field, they found a trap, there are neighboring fields producing oil & gas, which means there are sources that produces hydrocarbon down there. So, Hibiscus drills exploration wells. Until there's an official results (from cuttings, logging & well testing), we'll never knwo the outcome of the exploration well (unless you brother is working on the rig and he tell you whats going on). So, just wait la...what are the chances to strike oil? 50-50. Hibiscus is doing their due diligence... That trap that they are drilling could contain oil, but whether have enough column to produce commercially or not. Itu saje...ALL oil companies have drilled dry well....no execption Petronas ke, shell ke, chevron ke...so, it's not unusual to think there,s oil down there and it turn out there's oil, but not worth the money to produce...or sometimes, no oil at all. That's why the well names are "exploration".

Pareto, dealing with yanyana is different story, that apek just talk BS without any facts, so I go down to his level la, haha.

Reminder to self: why do I invest in Sumatec?
1) Sumatec is now debt free.
2) After 2 consecutive quarters of profit, Sumatec will be out of PN17.
3) Potential to have 2Q profit? Very likely since they now can claim revenue from Rakushechnoye field...even though it's producing less than 1000 bbl/day.
4) Work will start mid Jan 2014 to increase the production level either by workover on the idle wells or sidetrack (infill drilling) from existing idle wells to extract bypass oil.
5) Facts from ALL oil field worldwide. If you have 100% original oil in place, 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.
7) Once the workover work started and infill wells (from sidetrack) started, Sumatec will get additional production from this field, i.e more revenue.
8) This is a proven field, have oil, just need to do some work.
9) Hibiscus is doing exploration work in Oman - this is a different beast all together. With exploration, you might hit oil, you might not. Sumatec field is a proven field.
10) 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.

thlim123, I've been in the o&g industry for the last 17 years and never dealt with dirty oil....most of the dirty oil that I've read are tar sands or oil sands where these are onshore operations. See example : http://www.cnbc.com/id/100641619

If onshore operations, easy la to extract all these tar or oil sands, just like mining. Hibiscus block 50 in Oman is offshore...challenging to extract these tar/oil sands...even if it's very highly viscous, have to spend money with stream flooding (pump high temp steam, let it soak and reduce oil viscosity, then flow back for production. Repeat cycle). I think those who say it's dirty oil just bullshitting with you all....just talk but no facts. Wait for the actual announcement to make a decision. Just talked to geologist next door, he said cannot determine the oil type from cuttings sample, can see viscous or not,....my conclusion is ignore the dirty oil comments in here.

When oil drops are formed after millions of year under high temp high pressure, it then seeps upwards until it sees a trap, then accumulates...with the high pressure down there, once you poke a hole, it'll flow....if there's no trap, the oil will seep to surface, change properties than it became tar or oil sand....ini dirty oil talk doesn't make sense to me if there's a trap down there la.

huatah, well testing +/- 1 week...sometimes 10 days. What they'll do is, they will let the oil flow and flare it while collecting flow/pressure data (a series of flow and shut-in procedures).

if announcement will say they think the oil column can be produce commercially...then the next step is to do a well testing...that should take about a week+ to determine how many barrels per day can this reservoir produce at certain surface choke size...if banyak, then the investors will be very rich. I dont know what their current operation is, maybe already did well testing. If this well is dry, then they will go to the 2nd exploration well....

NKN1...first indications of if there's any oil WHILE drilling is from the cuttings....the wellsite geologist can determine if there's any show or not....then, next is formation evaluation i.e well logging, from rsistivity logs they can say if its water wet or oil wet....if it's oil wet, then the next test is well testing to determine how much this oil column can flow....that's why the rig is still there and not move to the next location yet. For investors, if you have contacts with the wellsite geologist...itu sudah kira insider info....haha, even better if can know the logging results. I'm not investing in Hibiscus...but, merely giving my input since this is my industry. Until there's firm news, nobody knows whats going on, unless there's some news leak that the oil they found is not commercially produceable....everything is about whether you can get the oil out or not, or if there's any oil or not in the reservoir.

Chinesetea...license to drill in a proven field is GOOD. License to drill in a prospect block is a 50-50 hit. I don't know much about Hibiscus punya blocks...investors should investigate this.

News from rigzone on the well.....check it out, it's a "prospect" i.e exploration well....may hit oil, may be dry.

http://www.rigzone.com/news/oil_gas/a/130295/Drilling_Commences_at_Masirah_North_North_1_Well_in_Oman_Block_50

this is coming from a petroleum engineer..why do we drill exploration wells? from seismic data and stratigraphy analysis, we can see that there's a potential formation trap where oil can accumulates...but seismic data cannot verify if there's oil or not, so need to drill exploration wells. Only then can verify if the reservoir contains oil or not...so, hibiscus plans to drill the 2 wells to verify if the reservoir that they have been analysing contains oil or not. So, if the well that they just drilled is "dry", that means they just spent certain million dollars for nothing....based on the article below, Hibiscus mentioned "If the wells yield successful discoveries..." so, looks like news have leaked that their first well might not have oil commercial enough to justify to spent money to drill extra wells for production? Looks like Block 50 in Oman is not as good as what Hibiscus expected.......the decision to continue to invest in thsi company is up to you.

http://www.thesundaily.my/news/802281

sundar...i know why you are like in a black hole, cut and paste the same comments, no original ideas.....too damn shiny black ass...i have respect to a lot of people in here who gives good TA etc, but to just pull a number out of your shiny black ass just to taunt the sumatec people in here deserves another black ass jokes.....does anybody know why sundar is smiling? he just bought a darkie tooth paste to rub his shiny black ass in hoping that it'll become super white, hahaha

sundar sebenarnya mau masuk ini counter...so, dia mau orang jual la so that boleh beli bila harga rendah....so come here and say sell sell, price will drop etc etc, this sumatec now is for investor not punter.....but sundar apa tahu, hari2 kasi garu sama itu shiny black ass.

no problem sundar-ji, I have lots of money to average down, bagi tambah itu volume at cheaper price...then I can buy for you a special magic run so that you can rub your shiny black ass supaya tak bagi silau bila the sun hit your ass....semua orang kena pakai sunglasses meh.

sundar....as long as not shiny and damn black like yours, hahaha

sundar's ass is so damn shiny black that his amma mistakenly thought she is traveling in space....it's the black hole, the black hole she said, hahaha

sundar, now I know la why you are typing this comments while standing, you don't want to stain that brand new white chair that you bought at ikealately....hahaha

easy sundar, just get your shiny black ass out of this forum with your comments,remarks and stupid TP, and the black shiny ass remarks will magically disappear.

sundar's ass is so damn shiny black that whenever he wears a white pants, other people thinks that he berak dalam seluar....hahaha

when sundar looks at his ass in the mirror last night, he wonder why la TNB potong his electirc even though he pays diligently every month, then he realizes, ops, it's actually my shiny black ass....hahaha

sundar...i have no plan in giving any constructive remarks when dealing someone like you...all I am interested in is making fun of your shiny black ass...i'm not an analysit whatsoever, but an investor...sapa kisah lu pandai ka, apa ka, but as long as money full in the bank, people happy maaaa....my brains contains all these black ass remarks just for you sundar...have you see your shiny black ass in the mirror lately? it did blind you a bit didn't it...especially in the morning when the sun's angle is say 45 deg, hahaha

hahaha....sumatec brotherhood maaa...pinch kiri punya peha, peha kanan pun sakit ma...nanti kalau jumpa apa angle mahu harass itu poorman,boleh jalan....haha

sundar, lu kalau tak tahan sama itu black shiny ass harassment,lu boleh keluar ini forum and bring your stupid remarks, comments etc to some other forum la ane, kalau tak, wa sangat happy mau cerita banyak2 pasal you punya shiny black bontot.

sundar's ass is so shiny damn black that when he goes and takes a dump, the toilet bowl also change color, shiny some more, hahaha

sundar, bukak dulu kamus warna shiny black dewan bahasa and pustaka and look up what jakun means la...itu orang2 real punya origin ini peninsular la...wa pendatang jugak,sama macam lu, cuma bontot wa tarak hitam legam macam bontot lu la, itu saja difference, cit ane,pergi jauh2 dari ini sumatec forum bawak lu punya shiny black ass and my free steel scrub and scrub your ass sampai you high, hahaha