I cannot help but suspect the call warrants especially the most recent ones 67, 68, 69 by Maybank, Affin Hwang and CIMB to be the culprit and it only goes to show that they are the ones who has the motives to short sell. As what wattsy said, would love to see them burn.

First off, CIMB, HIBISCUS-69 with a strike price of RM2.15 by 30 May 2025. 6 months to go and we are at RM2.00. Good luck!

wattsy has a valid point. 50% is now coming from gas. Yet the analyst report only talks about Oil.

Not sure if SBB hits 10% the share price easily goes above RM3, with the recent 4.8% it only barely defended against the lows of RM1.88 to RM1.96 and today RM2.0......so just 12 cents

Disappointing day! But taking it as a learning. Despite almost cancelling 36 million shares, using up roughly above RM72 million, it did nothing to the share price. That's why I prefer receiving dividend bonus, the holdings in your hand will increase in value and you can see the tangible result.

In theory, the valuation has dropped around 5% today, but does the market realises this? So I am topping up 5,000 lots today.

Very excited for tomorrow's share price adjustment. 5% is more than the total dividend payout per annum.

The best part is management has already resumed SBB, 190,000 lots today.

I will also look at call warrant HIBISCUS-69 whereby the Call price is RM2.15. If it's not adjusted upwards, then it seems like a good buy, for those who has less capital but wish to ride on the turnaround in share price. The gap is narrowing and the expiry is end of May 2025, so a good 6 months time to close up 10+ cents. Seems very possible.

This is now very interesting. I would have wished to receive bonus shares dividend, but I guess the management has other ideas. Share price 1.96 with the new share quantity, should be 2.05.

Secondly committed dividend of 8cts should now be 8.4cts

I wonder what will happen to the call warrants? Price adjustments too? Lets see tomorrow

And does anybody know if shares cancellation will affect NTA?

For the last 2 weeks

Net Short Sell was: -1.44 million shares today it is -1.53 million
Total SBB was: 9 million shares

Hibiscus has tons of money. It's proven by spending RM18 million in cash just like that in the span of 2 weeks.

But we cannot attribute the poor share price only towards to short sellers, what about other sellers? Why are they cutting lost over a PE 3.X and PB 0.5 company?

Too bad, big boss Michael Tang hasn't resume collection again at this bargain price.

Really hope the SBBs will be distributed to all shareholders, it will be a big bonus for us. At this rate, they can declare a 1 for 20 units, which automatically adds 5% to your holdings

Please watch Q1 2025 results or visit Hibiscus Petroleum's website > Investor Relations page
https://www.youtube.com/watch?v=GRRsK58djK0

There's many informative slides. Love how bullish Hibiscus management is regarding oil price at 70-80.

For US shale to work oil price cannot go too low.

Management keep repeating Q2 will be 2.5 Mbarrels even when we are in the middle of Q2, therefore Q2 numbers will be significantly better.

Assets will be revaluated upwards back again since USD is 4.45 as opposed to 4.1x during Q1, so the NTA numbers will improve and the Price to Book will also improve.

I am monitoring the SBB and the momentum is seriously strong. Company has used up RM70 million. But if we see the cash in bank balance, it has grown RM187mil. What if Q2 numbers are better? There's still capacity from the warchest to continue SBB.

For the short sellers, they have 15 million shares to cover. I'll be sweating if I'm them.

For Hibiscus-c69 call warrant, call price 2.15 in May 2025 by CIMB. I highly suspect they will lose money. Let's continue buying!! Continue your averaging down/up. It's the only way we can win and show support through action.