https://www.youtube.com/watch?v=ZYw60gON9Ys

Briefing on Proposed Acquisition in Brunei

https://ir2.chartnexus.com/hibiscuspetroleum/docs/Analyst-and-Fund-Managers-Briefing-Deck-Proposed-Acquisition-FINAL.pdf

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=148095&name=EA_GA_ATTACHMENTS

On behalf of the Board of Directors of Hibiscus (“Board”), AmInvestment Bank Berhad (“AmInvestment Bank”) wishes to announce that Simpor Hibiscus Sdn Bhd, an indirect wholly-owned subsidiary of the Company (“Simpor Hibiscus” or the “Purchaser”) has on 13 June 2024 entered into a conditional share purchase agreement (“SPA”) with TotalEnergies Holdings International B.V. (“TotalEnergies Holdings” or the “Vendor”) for the proposed acquisition of the entire equity interest in TotalEnergies EP (Brunei) B.V. (the “TargetCo”) (a company incorporated in the Netherlands) for a cash consideration of approximately USD259.4 million (or equivalent to approximately RM1,217.2 million) (“Purchase Consideration”) (“Proposed Acquisition”), subject to adjustments as set out in Section 2.1 of this Announcement.

Spending too much on drilling and dividend too low as a result

QR earnings from investment disposals, its one off and not from operating businesses, surely not getting the same treatment. Unless similar disposals for a few years?

so, BCorp now
1. awaits compensation amount ruling on BCity (BCorp and BLand)
2. payment from China property deal (BLand)
3. hotel projects (Okinawa-BLand Okohama-BCorp)
4. klang valley river project (BLand)
5. possibility of a HSR project (BLand)
6. Greenland property/hotel project? (BLand?)
7. Vietnam disposal? (BLand?)

Ooh, I C, no wonder

The BEnviro deal has actually only concluded in April, why the result included in Q3?

https://www.thestar.com.my/business/business-news/2024/05/31/bcorps-3q-net-profit-surges-to-rm694mil

oil down lah... this co, oil down, share price down, oil up, share price no guarantee up.

yes, still holding. can only hope there'll be a turnaround this or next year, i guess, sigh!

https://www.youtube.com/watch?v=qZn6uoJ8Fg8

Q3 FY2024 Results Briefing Webcast

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3448668

600 mil of revenue and 100 mil of profit, way better than what I had hoped for despite 78 mil drilling write off.

01 Mar 2024

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3427300

Capital costs (net of tax to SEA-H) estimated for the Ungu wells are expected to be in the range RM54 million whilst capital cost estimates for the Merah well are expected to be in the range RM27 million. At this stage, we expect to write off the capital cost estimates of RM27 million for the Merah well in the Group’s financial statements for the quarter ending 31 March 2024. The treatment of the costs of the Ungu well in the financial statements will be ascertained upon confirming the final results from the Ungu well, and will be announced at the appropriate time. All capital costs were funded from internal resources and the costs associated with the campaign have been included in the SEA-H cost recovery bank.

The poor performance of late could be a result of failed drilling project announced end of March which will result in a RM 27 mil write off in quarterly report to be announced this month. The next quarterly report to be announced in Aug should be good though, thanks to a successful Bungar Aster announced end of April.

With two huge hotel projects in Japan, doubt BCorp got any money to declare dividend. Would be very lucky to see BCorp initiate another round of share buy back to declare share dividend.

forecasting 3 years from now? Wow...

Only past records and time can tell whether Hibiscus can deliver on production increase, especially when it comes to new drilling. Though, past oil price and near term oil price offer an estimate to its coming quarter earnings. With crude staying relatively high, above 70, even when market is expecting poor market demand, tells us the supply demand is tight and low oil price is not expected. Why else Occidental in the US is trading on a higher PE? To me, it partly suggests an expected higher for longer oil price and margin for oil production is good. Surely, a 35000 boe/day is always welcome, it only assure higher profits when oil is high.

Useless? So, Hibiscus is not selling oil but water?

https://www.aip.com.au/pricing/international-prices/international-market-watch

And according to above, Tapis trades above 94 most of the time in April and Brent mostly above 88

Err... not to Tradingeconomics, brent was slightly below 88 at 5:00 pm yesterday Malaysia time, and above 88 at 5pm today

fainted, oil up, positive news, share price down?

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3440776

Positive outcome

Truth, Hibiscus doesn't need brent to go above USD 90. Most of Hibiscus oil is Tapis, and Tapis is 7-10 above brent's. Hibiscus has shown to make 100 million a quarter with realized oil price of 90. At current oil price, Hibiscus should be able to make 450 million annually easily, unless for writing off some investments. Hibiscus needs to lower the investment to improve dividend payout. Current payout ratio is simply too low and investment too aggressive for some investors to invest in Hibiscus.

Ask bursa/SC to investigate and provide free report to public?

F**ked up company or f**ked up bursa, oil up and hibiscus down???

brent crossed 88 and Hibiscus still not moving? Prudentail so good at this game or or not buying so no buyer???

Prudential been buying, guess they know how to massage the price so they can buy cheap?

hibiscus drops on a rising Brent?

Joker bursa or joker counter???

yeah, real garbage co...

I think there's more to cost of drilling but the asset which is the oilfield bought but not producing oil or gas. The management has failed to disclose sufficient for all shareholders that are clueless to this business. There have been selling before the announcement, I supposed some in the know are already benefiting from this, whether to buy back at lower price or to sell in advance.

pray ungu well bringing good news soon...

some knew about the Merah Well negative news few days back

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3427300

Reference is made to a disclosure made on 22 November 2023 (and further updated on 20 February 2024) in respect of an exploration drilling campaign (“campaign”) conducted by our indirect wholly owned subsidiary SEA Hibiscus Sdn Bhd (“SEA-H”). The campaign comprised a drilling program to drill 3 exploration wells, namely South Furious Ungu, South Furious Ungu ST and South Furious Merah to evaluate prospective Near Field exploration locations within the boundaries of the 2011 North Sabah Enhanced Oil Recovery Production Sharing Contract (“2011 PSC”).

The campaign initially kicked off at the South Furious Ungu well location on 29 October 2023 and later moved to the South Furious Merah location on 19 January 2024 after drilling the South Furious Ungu ST well. Whilst the drilling rig is still on location, it is expected to be released as soon as work is completed at the South Furious Merah site soon.

South Furious Ungu Well and South Furious Ungu ST Well

At the Ungu Prospect location, several samples of gas and one sample of oil were recovered. Subsequent laboratory analysis of the samples confirmed these preliminary findings. All the data collected through drilling operations at the Ungu Prospect location are currently being reviewed and after a more detailed interpretation will be developed to inform the relevant parties of the proposed next steps.

South Furious Merah Well

At the Merah drill location, evaluation and sampling efforts recovered one sample of gas. This sample has been sent for further laboratory analysis. Even though a sample of gas was recovered and brought to surface, our preliminary assessment is that hydrocarbon volumes seen in this well may not achieve commercially viable economic thresholds.


Rig: Next Steps

The Petro Vietnam-III drilling rig will soon be released for further drilling activity in Peninsula Malaysia with Hibiscus Malaysia Oil and Gas Limited.

Costs

Capital costs (net of tax to SEA-H) estimated for the Ungu wells are expected to be in the range RM54 million whilst capital cost estimates for the Merah well are expected to be in the range RM27 million. At this stage, we expect to write off the capital cost estimates of RM27 million for the Merah well in the Group’s financial statements for the quarter ending 31 March 2024. The treatment of the costs of the Ungu well in the financial statements will be ascertained upon confirming the final results from the Ungu well, and will be announced at the appropriate time. All capital costs were funded from internal resources and the costs associated with the campaign have been included in the SEA-H cost recovery bank.

All other operations are progressing smoothly.

This announcement is dated 1 March 2024.

at curent brent price, Hibiscus is at least making 400-450 million every year, making Hibiscus a company with PE less than 5.2???

Redtone has a market cap of close to 800 million and BJCorp owns approximately 40%, or about 300 millions. Not that significant lah...

no money for buyback lah... all into oilfield development

wordless... oil up, hibiscus not moving, oil down, hibiscus down

the quarterly report may not be good at all, given poor Toto performance... Can only hope for a compensation announcement on Turf Club case???

Hibiscus market cap is currently valued at 2.13 billion. It's reporting a net profit of 256 million in the first 6 months of FY24, generating a healthy operating cash flow of 560 million. At current crude oil and natural gas prices, it's looking to make at least 450 million FY24, i.e., Hibiscus is trading at 4.7 PE. Even though they are of different sectors within the oil and gas sector, just compare its earning, market cap with Hengyuan, Petron, and PetDag.

And I thought Hibiscus would easily cross 3.00 by now and gradually climb towards 3.50, sigh!

brent up, armada up 2.7% and.... hibiscus nothing???

I have waited so many years, running now seems strange... Genuinely hope there's more upside for both bcorp and bland

fainted, brent above 81 and hibiscus still 2.54-2.55, proxy to oil price???

there's so much with BLand lately, earning recovery, awaiting Sungai Besi compensation, hotel development in Japan, and potential HSR project. Still, BLand traded at 0.44 with a market cap of RM 2.2 billion???

fainted, another pump and dump???

and I thought it would easily cross 0.60 already with the news...

Would it work without a China partner? Thought need to eventually connect all the way to China???

Making 150 mil in Q1, 500 mil FY reasonable? So currently traded at PE less than 5???