This will be another power house in the coming month. Good Job Halim.

sekejap lagi depa push la atau pun esok. hehehe.

i intai-intai CONNECT also. has been up so much.

heheheh kan dah cakap semalam. Hheheeh

i told you guys long ago the Hibiscus price will be around 0.45 the lowest and the highest will go to 0.80. But i will take time. surely it will reach that mark.

relax la. it will rebound back strongly.

Whilst we did not immediately benefit from the oil price spike that followed the 30 November 2016 OPEC meeting, we hope to do so in the following quarters.”

Amacam Best Tak Bunyi dia ? hehehe. I told you so.

HIBISCUS PETROLEUM BERHAD - PRESS RELEASE

HIBISCUS PETROLEUM CLOSES SECOND QUARTER WITH AN

IMPROVED OPERATIONAL AND FINANCIAL PERFORMANCE FROM ANASURIA

 Group profit after tax for 6 months exceeds RM 90 million.
 Anasuria operations contribute RM61.8 million to revenue and RM38.1 million to EBITDA for
the Second Quarter ended 31 December 2016.
 Group’s Net Assets Per Share increases to RM 0.52 as at 31 December 2016.

22 February 2017 – 1.15 p.m.

Hibiscus Petroleum Berhad (“Hibiscus Petroleum” or “the Company” or “the Group”) today announced its results for the second financial quarter ended 31 December 2016 (“Second Quarter”).
For this quarter, the Group recorded a profit after tax (“PAT”) of RM 10.7 million and earnings before interests, taxes, depreciation and amortisation (“EBITDA”) of RM37.8 million. Year-to-date PAT was
reported at RM 90.9 million. Operationally, circa 300,000 barrels of oil was produced from various fields within the Anasuria Cluster
and were sold at a realised priced of USD41.7 per barrel contributing to a Second Quarter revenue of RM61.8 million. The average production rate for the quarter stood at approximately 4,400 barrels of oil equivalent (“boe”) per day. Other significant performance indicators reported were that operating expenditure per boe was circa USD 13.0, under-pinned by strong average facilities uptime of about 98 percent.
Hibiscus Petroleum’s Managing Director, Dr Kenneth Pereira commented, “Overall the second quarter was memorable as several milestones were achieved. At Anasuria we are seeing the positive impact of
our operating initiatives and in Malaysia, we have secured an asset that is subject to regulatory approval. On a macro-scale, OPEC and non-OPEC co-operation has resulted in a resurgence of oil prices.
Whilst we did not immediately benefit from the oil price spike that followed the 30 November 2016 OPEC meeting, we hope to do so in the following quarters.”

Note:
As part of the Company’s efforts to keep stakeholders engaged with the activities of the Company and informed of its quarterly performance, Hibiscus Petroleum will be releasing a webcast to present the
highlights of the Second Quarter Results ended 31 December 2016. The webcast will be released on the Company’s website at: http://www.hibiscuspetroleum.com/ at 6.00 p.m. on 22 February 2017.

LOVE IT WHEN I CAN SAY THAT

Hhahahah I TOLD YOU SO

i told you guys so many time. You throw la every bad news to oil price and it will maintain stable and later will start moving up. The answer is because Saudi are there and they will not allowed oil price to go further down as they need to ensure Aramco IPO attractive to investor and to ensure their crude curb plan works as it is their idea. That is why the price is so resilient. We in O&G company know la about this. It will slowly and surely break 60 USD in order to make sure Aramco is attractive enough for investor.

hhah those sell will cry like crazy later.hahahaha. amazing how this operator kill those shakers.Good job. They will chase at high later. Later i will come and tell you "I told you so". Hhahah.

price will break 60 usd as saudi need it badly so that it IPO will be more attractive. that is why you throw every bad news to it and it still stay strong and resilience.

it will go up again. this reaction is normal as it is following current price movement of BRENT and WTI. Don't worry too much. Just enjoy the ride

i will go up again. this reaction is normal as it is following current price of BRENT and WTI. Dont worry too much. Just enjoy the ride.

ahhah amacam. kan i sudah cakap hari tu. it will push until beyond 2.0 and next even above 2.5.

Tomorrow it going to shoot up again.

Trump order US withdrawal from TPP. Executive order already being put for this.

as i said trump is on its way to cancel agreement with iran and put sanction back.

Maha Firaun = Mahathir = Mukhriz = Muhyidin = Lim Guan Eng = Lim Kit Siang = The biggest corrupt and low life people in the country.

heheh kan dah cakap semalam. Second stage bermula. 0.45 - 0.80.

can this wave break 0.14

First stage 0.20 - 0.55. Second Stage 0.45 - 0.80. :-) .

oil price could be heading to 65 - 70 USD as there is a latest info that trump are looking into canceling peace agreement between US and Iran.This is also part of the strategy to ensure the security of Israel and middle east. If this happen world crude supply will plummet and price of oil will shoot.

Monday opening 0.485, close at 0.535.

potential reversal to upward where the price may catch 0.1 again.

yeah maybe.with this strong movement. maybe found new oil.

Decommissioning capex. As part of the Decommissioning Security Agreement (DSA), it is the Group?s obligation to dismantle and remove the facility, and to restore the site on which it is located. The estimated decommissioning cost and restoration of RM257m is discounted to its net present value. We understand that this amount is the discounted initial provision for decommissioning costs capitalised and amortised over the life of the Anasuria cluster fields on a unit of production basis over the proven and probably developed reserves.

Contingent consideration. We do note that there is a contingent consideration to the vendors, if oil price is above USD75/bbl, but only for between 2018-2021. The contingent consideration is 15cents per USD/bbl. Factoring in this consideration and with the assumption that oil price is at USD75/bbl from 2018 to 2035, Hibiscus? portion of the Anasuria Cluster is worth RM1.03 with the above assumptions remaining unchanged.

Taxation effects. We observe that as of 1QFY17, the Group?s taxation in its profit and loss statement included an RM75.8m deferred taxation which is the reversal of the deferred tax liabilities. This is following the adjustment of the fiscal terms of the UK North Sea Tax Regime in UK?s Finance Bill 2016, accounting for a downward revision of supplementary charge tax rate from 20% to 10%. Supplementary assessment shows the increase in value of an asset during the current tax year. This occurs where new infrastructure is completed or occupied during the current tax year. A Supplementary assessment is also calculated when a major renovation or addition is completed on an existing asset.

Source: PublicInvest Research - 9 Jan 2017

HIBISCS - Realising The Value
Author: PublicInvest | Publish date: Mon, 9 Jan 2017, 10:10 AM

Hibiscus Petroleum has come away from its special purpose acquisition company (SPAC) status to qualify as a O&G production and development company. We believe contributions delivered from its first producing field, the Anasuria Cluster in UK, has anchored its position more prominently amongst its oil peers. We are thus reviewing Hibiscus, premised on the undervaluation of its Anasuria Cluster asset valued at RM0.60 based on our DCF valuation with an 11.0% WACC. There is also further potential upside, with the conditional sale and purchase agreement (SPA) for the Group to acquire the 50% stake of the North Sabah Enhanced Oil Recovery (EOR) PSC, a partnership with Petronas Carigali which seems within reach, expected latest mid-2017. As a sweetener to the acquisition if successful, the deal structure will recognize contributions to the Group back-dated from 1 January 2017 onwards.

Upside from core operations. We value Hibiscus? 50% stake in Anasuria Cluster at RM0.60 based on our DCF valuation with an 11.0% WACC. The Group currently owns and operates the field together with Ping Petroleum Limited. Our valuation has accounted for the decommissioning capex and various taxes.

Potential upside boost. The conditional SPA with Sabah Shell Petroleum Company Limited and Shell Sabah Selatan Sdn Bhd to acquire a 50% participating interest in the 2011 North Sabah EOR PSC with Petronas Carigali for USD25m, comprising of 4 producing fields and all its associated equipment and assets including the Labuan Crude Oil Terminal is worth an estimated RM0.55. This assumes the production of its 2P remaining reserves of 62MMstb, no additional capex investment, OPEX cost of USD13.30/bbl through the remaining lifespan of the production rights (of 24years) up to 2040.

Higher, stable oil price at about USD50/bbl levels enhances attractiveness. We see this holding up based on i) OPEC?s agreement to cap output at 32.5mbbl/sday, ii) President-elect Donald Trump?s energy independence vision to only take shape at a much later stage, iii) end of the prolonged oil price cycle which should see new operations coming online, otherwise a major depletion of 20% could be seen as soon as 2017 onwards with the supply crunch in 2019.
Our base case fair value of RM0.60 is premised on a DCF valuation of Hibiscus? 50% stake in the Anasuria cluster with a 11.0% WACC. We are also positive on a further upside boost of an additional RM0.55 with the potential acquisition of the North Sabah asset. The total fair value of Hibiscus would therefore be RM1.15 if the acquisition is successful, pending approvals from Petronas. The base case scenario however of RM0.60 still offers a potential 37.1% upside from current share price.

INVESTMENT RISKS

Single income source. At this juncture, assuming Anasuria to be the bread and butter of Hibiscus for the longer-term. Any hiccups on this project would directly affect the Group?s performance.

Non-approval from Petronas for Shell?s 50% participating interest in the 2011 North Sabah EOR PSC. At this juncture, the acquisition is conditional to Petronas? approval. Assuming the non-approval, the Group?s fair value for the interim will remain at RM0.60.

Oil price levels. An inevitable event, oil price fluctuations is a determining factor to the Group?s performance.

FINANCIALS

The Group is currently in a net cash position, and is therefore able to gear up where needed for the future. As at 1QFY17 results, the Group has shown a boost in earnings from its deferred taxation. Stripping off the reversal of deferred taxation, the Group?s earnings would register a better net loss position of RM6.7m, which we are positive would continue in an upward trend as performance will be driven by the higher, current stable oil price levels, and with all expected one-offs to have been accounted for.

How is income derived? Revenue is accounted when oil or gas is lifted by the buyer (off take) at most commonly a spot price. Then energy royalty (if any) is deducted, followed by the lifting cost. At the EBITDA level, CAPEX, OPEX and all taxes are deducted before earnings are recognized.

Valuation – fair value of RM0.60. We value Hibiscus? 50% stake in Anasuria Cluster at RM0.60 based on our DCF valuation with an 11.0% WACC. The Group currently owns and operates the field together with Ping Petroleum Limited. Our valuation has accounted for the decommissioning capex and various taxes.

Our base case fair value of RM0.60 is premised on a DCF valuation of Hibiscus? 50% stake in the Anasuria cluster with a 11.0% WACC. We are also positive on a further upside boost of an additional RM0.55 with the potential acquisition of the North Sabah asset. The total fair value of Hibiscus would therefore be RM1.15 if the acquisition is successful, pending approvals from Petronas. The base case scenario however of RM0.60 still offers a potential 37.1% upside from current share price.

contra kaki dah nak kering dah

The dollar hit a 14-year high against a basket of other currencies after data showed U.S. manufacturing activity grew more than expected in November.

A stronger dollar makes greenback-denominated commodities like crude oil more expensive to holders of other currencies.

Traders were also concerned about reports that Libya will further increase production, John Kilduff, founding partner at hedge fund Again Capital, told CNBC.
Libya plans to ship from a port near Tripoli nearly 1.9 million barrels of oil this month from the recently reopened Sharara oil deposit, according to a loading document obtained by Bloomberg.

Libya, one of two OPEC countries exempt from output cuts, has increased its production to 685,000 bpd, from around 600,000 bpd in December, an official at the National Oil Corporation said on Sunday.

Also on the supply front, U.S. oil production increased in October to 8.8 million barrels a day, the highest level since May 2016.

right now investor as so bullish on oil and BRENT possibly hits a new record high of 59 USD.

right now investor as so bullish on oil and BRENT possibly hits a new record high of 59 USD.

hahhah i told you say yesterday i will in this morning. Huh nicely 0.13 profit. But i wont let it go yet. heheheh more to come.

hhahah i told you so. heheh

news not yet come out. but in my view it should move above 0.14 all activity below waiting for completion in Q1 2017 plus the possible new shareholder coming in, plus new CFO, plus settlement of default case and share buy back by Halim Saad and all of below will push up the price even higher than 0.14.

SUMATEC RESOURCES BERHAD (“SUMATEC” OR THE “COMPANY”)
 PROPOSED PAR VALUE REDUCTION;
 PROPOSED RIGHTS ISSUE WITH WARRANTS;
 PROPOSED ACQUISITION;
 PROPOSED IASC; AND
 PROPOSED AMENDMENTS

ESTIMATED TIME FRAME FOR COMPLETION

Barring any unforeseen circumstances, the Proposals are expected to be completed by the first quarter of 2017

news not yet come out. but in my view it should move above 0.14

kesian MrRoy ni.After doing the same in sumatec now come to Hibiscus. Kesian nyer this MrRoy.

DONT THINK SO BECAUSE LAST WEEK CLOSE IS AT 0.075. MORE UPSIDE WAITING FOR SUMA NOT REVERSAL.

i will start buy on tuesday.it will push up from this price.

Good Job Felda.

Felda clarifies acquisition of Indonesian Eagle High stake

http://www.thestar.com.my/business/business-news/2017/01/02/felda-clarifies-acquisition-of-eagle-high-stake/

FELDA would like to clarify a few things in light of its recent acquisition of a 37% stake in PT Eagle High Plantations TBK (EHP) that StarBiz has reported on Dec 29 and 31:

1. Financing of the acquisition

Felda has secured government financing for this deal. The government supports its initiative to expand our operations through this deal as it not only benefits Felda but also all the other stakeholders in the industry.

Having said that, of course Felda considered all funding alternatives available to it and its priority is to put in place an optimal structure which minimises cost and risks.

2. Access to sugar business

Access to Rajawali’s sugar business was negotiated when Felda Global Ventures Holdings Bhd (FGV) took the lead in the acquisition proposal since it served to be more relevant for synergy with FGV’s MSM Malaysia Holdings Bhd.

FIC Properties Sdn Bhd on the other hand would want to focus on the already vast opportunities in the palm oil industry whilst at the same time strengthening the Council of Palm Oil Producing Countries’ (CPOPC) agenda between the two nations.

3. Control of the company

There is a reason for not pursuing a controlling stake which Felda cannot disclose before it goes through the approval process of the relevant authorities, both in Malaysia and Indonesia.

However, what it can say now is that it needed a strong local partner to materialise its business plan to expand in Indonesia. As Rajawali Group is among the largest conglomerates in Indonesia, it is a much sought after partner not only in the plantation sector but also other related businesses.

Furthermore, Indonesia can be a challenging market to navigate as some Malaysian companies have experienced and therefore “we saw the need to have a strong local partner that could lead us through it”.

“We will get three seats – two in Board of Commissioners and one in the board of directors.

“We can’t go into details of the terms as it is pending regulatory approvals but this deal has been negotiated thoroughly and in detail. The key is we have managed to slash down the price by close to 30% to US$505.4mil (RM2.26bil) and Felda’s downside risks are protected.”

4. Commitment to Felda settlers

Felda has always been on the lookout for good business ventures as an avenue to increase “our revenue which in turn would benefit none other than our most important stakeholder – the settlers”.

This EHP acquisition is one of those efforts to achieve this objective.

The acquisition is also in line with the government’s objective of establishing the CPOPC to stabilise the CPO price. This will benefit not only the settlers but also the industry as a whole.

The statement is issued by Felda head of corporate communications Khadijah Mohamad Radzi.

BRENT SHOOTING

BRENT SHOOTING

Oil prices on track for greatest yearly percentage gain since 2009

http://www.cnbc.com/2016/12/29/oil-prices-edge-up-despite-unexpected-us-crude-inventory-build.html

Party on in Bursa, extolled sector is once-beleaguered oil and gas

PETALING JAYA: There is a party going on in Bursa Malaysia, and the sector being extolled is the once-beleaguered oil and gas (O&G) sector.

Over the last few days, O&G stocks on Bursa Malaysia have seen some buying interest, buoyed by higher oil prices from expectations of tighter supply once the first output cut deal between the Organisation of the Petroleum Exporting Countries (Opec) and non-Opec producers in 15 years takes effect this Sunday.

Brent crude oil and WTI crude oil have rallied by some 25% since mid-November on expectations of this historic deal draining out a cumulative 1.8 million barrels of oil inventories for a total global production cut of 2%.

Opec produces a third of the global oil, or around 33.6 million barrels per day.

As of 5pm yesterday, Brent crude oil was up one cent to US$56.23, while WTI crude was down 22 cents to US$53.84.

However, the O&G heavyweights were not moving up yet. Instead, actively traded on Bursa Malaysia were O&G penny stocks such as Hibiscus Petroleum Bhd, Perisai Petroleum Teknologi Bhd, Sumatec Resources Bhd, Borneo Oil Bhd, KNM Group Bhd and Reach Energy Bhd warrants.

Hibiscus has been steadily climbing over the last three months. Its share price has now almost doubled from the 20-sen level in October. Hibiscus closed the day up one sen to 41 sen.

Even Practice Note 17 company Perisai has almost doubled its price, and only within a month. As at end-November, the stock was trading at the five-sen level. The stock closed unchanged at nine sen and was the most actively traded counter of the day.

“With the recovery in oil prices, the oil producers will start moving first. Once these stocks have plateaued, then interest will turn to the service providers,” said one observer.

Hibiscus and Reach Energy are seen as having direct exposure to oil production.

SapuraKencana Petroleum Bhd, although not a producer of oil, is considered the bellwether of the Malaysian O&G sector due to its sheer size as a service provider and engineering company.

“You won’t see the earnings of the Malaysian O&G service providers turn around just yet. The excesses and consolidation will still have to take place in 2017. The industry as a whole will only recover over the next 12 to 18 months,” added the observer.

On Nov 30, Opec and non-Opec producers amazed scoffers by agreeing to have their first production cut in eight years. The deal also included Opec’s first coordinated action in 15 years with non-member Russia.

Some people are starting to feel that the rise in oil prices can be sustained at the US$60 level as globally, the oil majors have started reinvesting.

This is a sign that after two years of pain, the experts are seeing a bottom, and hence, the revival is beginning.

Then, of course, there is Saudi Arabia’s state oil producer Saudi Aramco, which feels “comfortable” that by 2018, oil prices would have recovered and market conditions would be right for what could be the world’s largest public listing.

Aramco, estimated to be worth about US$2.5 trillion, is expected to list around 5% of its equity.

Even after this recent rally, oil prices remain at about half their mid-2014 levels, when prices began to collapse, reaching a low of US$27.10 on Jan 17 this year. Historically, Brent crude oil had reached an all-time high of US$145.61 in July 2008.

http://www.thestar.com.my/business/business-news/2016/12/30/crude-oil-cheer/

Party on in Bursa, extolled sector is once-beleaguered oil and gas

PETALING JAYA: There is a party going on in Bursa Malaysia, and the sector being extolled is the once-beleaguered oil and gas (O&G) sector.

Over the last few days, O&G stocks on Bursa Malaysia have seen some buying interest, buoyed by higher oil prices from expectations of tighter supply once the first output cut deal between the Organisation of the Petroleum Exporting Countries (Opec) and non-Opec producers in 15 years takes effect this Sunday.

Brent crude oil and WTI crude oil have rallied by some 25% since mid-November on expectations of this historic deal draining out a cumulative 1.8 million barrels of oil inventories for a total global production cut of 2%.

Opec produces a third of the global oil, or around 33.6 million barrels per day.

As of 5pm yesterday, Brent crude oil was up one cent to US$56.23, while WTI crude was down 22 cents to US$53.84.

However, the O&G heavyweights were not moving up yet. Instead, actively traded on Bursa Malaysia were O&G penny stocks such as Hibiscus Petroleum Bhd, Perisai Petroleum Teknologi Bhd, Sumatec Resources Bhd, Borneo Oil Bhd, KNM Group Bhd and Reach Energy Bhd warrants.

Hibiscus has been steadily climbing over the last three months. Its share price has now almost doubled from the 20-sen level in October. Hibiscus closed the day up one sen to 41 sen.

Even Practice Note 17 company Perisai has almost doubled its price, and only within a month. As at end-November, the stock was trading at the five-sen level. The stock closed unchanged at nine sen and was the most actively traded counter of the day.

“With the recovery in oil prices, the oil producers will start moving first. Once these stocks have plateaued, then interest will turn to the service providers,” said one observer.

Hibiscus and Reach Energy are seen as having direct exposure to oil production.

SapuraKencana Petroleum Bhd, although not a producer of oil, is considered the bellwether of the Malaysian O&G sector due to its sheer size as a service provider and engineering company.

“You won’t see the earnings of the Malaysian O&G service providers turn around just yet. The excesses and consolidation will still have to take place in 2017. The industry as a whole will only recover over the next 12 to 18 months,” added the observer.

On Nov 30, Opec and non-Opec producers amazed scoffers by agreeing to have their first production cut in eight years. The deal also included Opec’s first coordinated action in 15 years with non-member Russia.

Some people are starting to feel that the rise in oil prices can be sustained at the US$60 level as globally, the oil majors have started reinvesting.

This is a sign that after two years of pain, the experts are seeing a bottom, and hence, the revival is beginning.

Then, of course, there is Saudi Arabia’s state oil producer Saudi Aramco, which feels “comfortable” that by 2018, oil prices would have recovered and market conditions would be right for what could be the world’s largest public listing.

Aramco, estimated to be worth about US$2.5 trillion, is expected to list around 5% of its equity.

Even after this recent rally, oil prices remain at about half their mid-2014 levels, when prices began to collapse, reaching a low of US$27.10 on Jan 17 this year. Historically, Brent crude oil had reached an all-time high of US$145.61 in July 2008.

http://www.thestar.com.my/business/business-news/2016/12/30/crude-oil-cheer/

Post removed.Why?

SUMATEC RESOURCES BERHAD (“SUMATEC” OR THE “COMPANY”)
 PROPOSED PAR VALUE REDUCTION;
 PROPOSED RIGHTS ISSUE WITH WARRANTS;
 PROPOSED ACQUISITION;
 PROPOSED IASC; AND
 PROPOSED AMENDMENTS

ESTIMATED TIME FRAME FOR COMPLETION

Barring any unforeseen circumstances, the Proposals are expected to be completed by the first quarter of 2017.

yeah im waiting for it to go beyond RM 1.00.