Wah no jerebu in here today. Go suma!

Positive news for oil. Hope all good for Suma!

Bank negara sudah lulus? Bro Ozzie u still in?

Wah bila boleh beli ni?

Stuck at rm 5. Small amout

Lama tak go thru every single posting. Is capt looiks still around?

Hope all is well with Suma supporters. Pray dah BNM can approve asap

Deals in Limbo due to regulatory restrictions for sumatec and pdz - Focus Malaysia
selamat hari raya and happy holiday to everyone

What happen?

Sumatec upbeat on second half performance
Posted on 12 June 2015 - 05:38am
Lee Weng Khuen
sunbiz@thesundaily.com

KUALA LUMPUR: Upstream oil and gas player Sumatec Resources Bhd expects to establish a steady revenue stream in the second half of the year on increased drilling activities.

"We're still doing okay, operations are steady," its CEO Chris Dalton told reporters after the company's AGM here yesterday.

Sumatec's first-quarter net profit ended March 31, 2015 jumped more than four fold to RM19.44 million from RM4.47 million in the previous corresponding period.

He noted the drilling works for newly acquired Buzachi fields in Kazakhstan will start by year-end.

However, Dalton explained that it would still depend on the rights issue exercise, which is awaiting approval from Bank Negara Malaysia.

"If we can complete the rights issue in a month or two, we should be able to execute these wells in the fourth quarter," he added.

The rights issue is expected to raise up to RM1.1 billion for Sumatec, to partly fund the RM1.02 billion acquisition of the Buzachi fields, which was given the green light by its shareholders two months ago.

The company plans to drill eight new wells within 6-12 months upon completion of the acquisition deal, potentially bringing total production to 1,600 barrels per day (bpd) from the current 1,000 bpd.

"We're maintaining a stable production right now on the wells we work on, we'll be monitoring the oil price, then act accordingly," Dalton said.

He said that oil price would improve in the second half of the year, which could ensure upstream players' profitability.

"How much (oil price will go up to) I can't speculate, but at least it would be steady," he opined, adding that Sumatec is still making profits at the current oil price level.

Dalton also noted that the company is always looking to acquire new oil and gas assets that fit into its portfolio within the Asian region.

"We have the strategy on where we want to grow, but I can't divulge anything at the moment," he said.

Local tycoon Tan Sri Halim Saad is the largest shareholder of Sumatec, with a 24.49% stake.

- See more at: http://m.thesundaily.my/node/314409#sthash.aXIJRnWC.dpuf

Back to shariah compliant. Great

Wow next ifca?

Yes sabar

Nice

Cheers bro Ozzie!

My brief comment on Bursa Stock Market and week ahead.
Wall Street : The start of mega merger deal. Giant telecom company Verizon announced a USD4.4 billion buyout of American Online. Next could be Apple buying Netflix and Yahoo buying Yelp. Yet Dow Jones break below 18,000.
China : PBOC cut interest rates 0.25% for the third time in the slowest economic growth since 2000. Shanghai glided below 4500.
Europe : Eurozone finance ministers met once to discuss the release of much-needed funding to Greece, a day before a Euro 750m repayment by Athens to the International Monetary Fund falls due.
Malaysia : KLCI slipped below 1800.
Issue on 1MDB and Tabung Haji. Biggest Mega IPO since 2012 coming this Friday, Malakoff and the RM300 bil ++ 11th Malaysian Economic Plan focusing on Islamic Finance and Green Economy.
Last but not least, oil prices hit USD70, the highest in 2015 before retreat. Get ready to buy oil and gas stocks.

www.nazrikhan.com

Must tunguuuu lor

What happen?

Trying to understand the situation

Still holding this at rm 5 hihi. Not worry cause company is strong

Haha

Good progress

Ayo apa ini. Need google translate

Wow.. Can fly soon

Yes agree

Nice

Yup

Alhamdullilah

Hihi. yes yes. Tungguuuu is the word for it

For now focusing on bursa shopping

Happy if can go 15c

What's happening?

Chart still ok?

Good

Holding tightly

Any announcement coming?

Hihi.. cheers bro Ozzie!

Highest in bursa history for trading and services sector. Nice.

Klci breaking resistance. Cool

Correction mode?

Alhamdullilah. Any latest update on the surge?

Great stuff

Agree Slm7212

Alhamdullilah. Can fly higher this stock but don't want to b greedy. TP achieved. Must know when to sell. Tq frontken

Morning all. Wah can go 30?

Tabung Haji?

Terkejut tengok biohldg kejap hihi. Frontken tp 30c can achieve?

So fast?

Roger tkp1. Im with u. My average at 18c

Chartist can update TP after correction?