With brent above 80, I would have expected Hibiscus to at least trade between 1.30 and 1,60. Now, if brent were to stay strong above 90, I wonder how much I should expect with Hibiscus...

Hibiscus traded above 1.20 and hit a high of 1.3x when brent was traded above 70 (or is it 80) a few years back, now Hibiscus is only worth 1.15 with trend reversal signal despite brent is now above 90 (whether it's sustainable or not, which expert can really tell?) and Repsol deal is shown to be a good deal given higher crude selling price relative to forecasted price used in the purchase???

1.13 for a 93 brent? wordless...

fainted, same feeling here, thought with brent crossing 95, we would be seeing Hibiscus limit up today to trade above 1.30...

guess holding so long brent is still above 80?

History of brent crude oil price has shown that it's very volatile, it would be crazy to assume a PE of 10 to commodity companies right now, unless crude oil price were to show a relatively stable price range for at least a year or two...

Sigh, and I thought we are going to cross 1.20 today for sure...

and i thought hibiscus should cross 1.10 easily, sigh!

What's more, Hibiscus celebrated a Brent above 80 with share price above 1.20 before Covid-19 pandemic. So, the only possible reason would be market is concerned, whether there'll be too much dilution and if the deal is good, over the Repsol deal then when Hibiscus could only celebrate a crude above 70 with 0.97 share price. Though, with the recent completed Repsol deal and a proof than the management has betted correctly with the Repsol acquisition, i.e. the brent has risen sharply compared to when the deal is negotiated and signed. Yet, there's still so much noises believing that Hibiscus is over-priced???

When brent crossed 70 a few months ago, Hibiscus celebrated with share price of 0.97. The next time when brent crossed 80, Hibiscus barely crossed 0.90. With the recent high of brent above 90, Hibiscus barely crossed 1.00 for a few moments. Has the "green movement" escalated over the last few months with 10x more windmills, solar panels, hydro and nuclear?

Err... If I were not wrong, Q4FY21 reported 49 mil profit when brent avg 62 and Q1FY22 reported 40 mil when brent avg 72. The reason for lower profit when brent is higher is due to higher down time. So, assuming back to normal, brent 72 should provide hibiscus earning that's much higher than 49, say between 55-60mil? And with brent above 80, guess earnings will be even higher. According to the management, repsol acquisition is expected to provide 60% cash flow or earnings before tax (can't remember.) I believe hibiscus should easily report 500 mil a year with crude above 80. Though, it would be very risky to use PE higher than 8 to price hibiscus given commodities tend to be very volatile, unless crude were to stay above 80 consistently for more than a year.

Unbelievable, thought we would have crossed 1.10 easily...

I'm hoping for something between 1.30-1.80, possible?

fainted, with this news and yet Hibiscus can't fly above 1.00? Guess will have to wait until the balance sheet + earning post acquisition to see Hibiscus flying, sigh, another 4 months wait...

If Repsol's contribution is according to what Hibiscus management mentioned, it'll be quite significant.

Finally, we'll be able to know exactly how much borrowing and lucrative Repsol deal is going to be...

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3227592

On behalf of the Company, CIMB Investment Bank Berhad wishes to announce that Repsol Exploración, S.A. (“Repsol”) has informed Hibiscus Petroleum that it has received the joint approval of Petroliam Nasional Berhad and Vietnam Oil and Gas Group dated 19 January 2022 for the change of control of Repsol’s rights, interests and obligations through its affiliates under the Block PM3 CAA production sharing contract (“PSC”) and unitisation agreement of the East Bunga Kekwa – Cai Nuoc field under Block 46 PSC to Peninsula Hibiscus Sdn Bhd (“Peninsula Hibiscus”).



Following receipt of the joint approval, Repsol and Peninsula Hibiscus have also confirmed the fulfilment of all conditions precedent under the sale and purchase agreement dated 1 June 2021 (as referred to in Section 2.1 of Appendix I of the Circular dated 13 December 2021 for the Proposed Acquisition) and that the parties will now proceed to completion of the transaction accordingly.

Err.... Yesterday's not that a joke compared to today's, hibiscus down 1.14% while hengyuan up 2.74%, wordless

I didn't sell, just pissed off by the unbelievable share price performance...

VT owns 7-11 through his own private vehicle. Initially owned by BCorp, 7-11was parked under BRetail which was listed years ago and privatized by VT (not BCorp) after being listed.

Hibiscus rose 1.16% while Hengyuan rose 3.61% and Hibiscus is the oil field owner while Hengyuan is a refiner? What a joke!

fainted, the last time brent crossed 86, Hibiscus reached a high of 0.97. With brent now crossing 88, Hibiscus can't even break 0.90...

kakiminyak, I wish I know, guess that's why hibiscus share price priced in only the dilution but not the Repsol's earning addition...

I expect hibiscus to make 400-500 mil a year post Repsol acquistion, do you think it's too ambitious?

what? celebrating crude oil crossing 86 with a falling share price?

The last time brent crude broke 86, Hibiscus hit a high of 0.97, now with brent crude crossing 86 again, Hibiscus can't even break 0.90, sigh!

fainted, the last time brent cross 86, hibiscus traded at 0.97. Now, brent is trading above 85 and yet hibiscus is ONLY 0.87???

with brent above 84, hibiscus should be above 0.90 right now based on past record...

I am looking something north of RM 1 given crude oil price and board's guidance over Repsol's acquisition.

The recent brent above 86, hibiscus traded a high of 0.97, with brent now close to 82, hibiscus closed at 0.815, what a joke!

Asia88, you should email media@berjaya.com.my if you haven't received it. the door gift is only RM 80, I was mistaken by stockraider and assumed it's RM 150 when the newspaper said it's RM 80.

traded as if the Repsol acquisition will not go through, thus only deserve to be priced at discount due to shares dilution...

Asia88,

Berjaya.com.my-Media <media@berjaya.com.my>

Thu, Dec 30 at 10:34 AM


Good morning.

With regards to your query below, you will be able to redeem gift vouchers totalling RM80 via your BInfinite app, similar to last year.

The gift vouchers will be credited to your BInfinite account soon.


Kind regards,
Lydia

I have also attended the AGM, not sure when it was announced, emailed investor relation for clarification, hopefully will see a reply early next week

twynstar, thanks!

hopefully, I have raised that during AGM, but basically clueless what he said...

newbie8080, how many can understand that? Plus, the report is saying only estimated earning based on forecasted oil price, what I am interested to know is the actual performance, which is why I am asking for a Repsol comparison to current Hibiscus's during Q4FY2011 and Q1FY2012.

newbie8080, if it's not a full lockdown, then, at best it'll be what's happening now, and brent crude oil will most likely traded between 65 and 75, which favors hibiscus. At 72 brent, Hibiscus is showing a 49 mil profit and 55 mil operating cash flow without Repsol deal and Repsol deal is supposed to triple Hibiscus current production. What I am keen to know is the operating cost of Repsol and how's natural gas pricing and profit margin relative to crude oil.

watch the whole session, didn't say how to claim???

truth is, how many countries can continue the lockdown before their economy collapses? The said truth is, western countries are busy defending freedom to do whatever they want or blaming China for the pandemic while the only way out is either a further weakening virus or a well coordinated efforts by all nation.

if the hibiscus management dropped the new shares issuance to settle payment, I suppose the recent earnings must be damn good for them to have such confidence, isn't it?

Tan son said no plan to privatize BLand

OPEC+ has forecasted an average crude oil price of 72 for Y2022 with surplus oil early 2022 (read it somewhere) when Biden pressured them to produce more. So, if one trusted OPEC+ forecast, think it's fair to guesstimate Hibiscus earning based on this number.

Q4FY2021 earning is based on crude around 60+ while Q1FY2022 earning is based on crude arouned 70+, you should be able to find that in the quarterly report. Though, Q1FY2022, the drilling is affected by MCO, thus I said still depends on drilling efficiency.

witan, my apology, when I said crude around 62 and 72, I meant brent crude oil price based on my tracking. Hibiscus's Malaysia oil tends to fetch a higher price due to higher grade drilled oil. Post Q1FY2022, brent reached a high of 86 (or 87?) and a low of 70 (or 71?). With recent test to drive brent lower due to US Fed's pending decision and IEA saying crude oil in surplus condition, brent has been holding up quite well above 70. That's why I use brent 70+ for forecast and assuming 50-60 million net profit per quarter. Having lack of experiences in understanding the Repsol's asset (tried to raise the question in AGM but not answered clearly,) I can only hope it'll contribute between 50%-100% post all cost. Hope my basic analysis makes sense.

During the last 2 quarterly report, Hibiscus reported 49 mil with crude around 62 and 41 mil with crude around 72. With crude around 70+, I suppose Hibiscus should report an annual profit of between 200 mil and 250 mil depending on drilling efficiency. Repsol acquisition earning potential has not yet been considered and currently Hibiscus has a market cap of about 1.5 bil. I am hoping for more, but guess it's not appreciated by the market, just hope I am not wrong...

All awaits AGM and coming GM on Repsol acquisition

or probably VT just realized that he needed a bigger mouth than his?

Why taking so long? Sigh!

fainted, brent rose so much last night and hibiscus not moving at all today???