Found this info:

http://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvFDZpiwfagWeS1uh28tdNT7rJEY4RVxZuPFHhlFA%3D

Production increase slightly and ferrosilicone sales from OM Sarawak increased by 21.5% in Q2 vs Q1

http://www.theedgemarkets.com/my/article/silk-secures-rm2426m-contract-provide-straight-supply-vessel

Break and close above 74.5. Good sign

Oil sudah rebound

http://paultan.org/2014/11/19/toll-hikes-postponed-rm560-million/

Either rate hike or government compensation, this is a good news to Silkhld.
With double digit traffic growth, may be able to make profit earlier from its highway
operation.

Looks like 2015 would be a turnaround year for Silkhld.

Tabung Haji quietly buying Perisai

Today is T+4 for heavy volume last Monday when the lock up period expired. If ICON can absorb selling pressure, looks like got chance for a nice rebound.

Quietly creeping up in the midst of bloodbath in KLCI. I like!

Sampool,

For double digit traffic growth, you can refer Silk's presentation slide to analysts in their website.

For 40% rate hike in Feb 2015, Pls refer to the link:
http://www.thestar.com.my/Business/Business-News/2014/05/29/Highway-IPO-back-on-track-Analysts-positive-on-IJMs-proposed-acquisition-of-Silk/?style=biz

40 % toll rate hike in February 2015, plus double digit traffic growth....

Salam easymoney,

Indeed Bualuang will still be profitable, though profit margin
may somewhat reduced

Sona may not have to loan so much if re-negotiated based on current pricing. Or perhaps,With the same offer amount, could end up with higher ownership (49%?)

The thing I don't like with this Cicak (Salamander) is, they are not transparent and not keeping to their words. Not a good start from a new potential partner isn't it?

In conclusion, Sona (we all) are lucky. Ophir come and rescue us!

Imagine if the deal go through, Sona surely will be hit hard.

Timing couldn't be better for Sona (and other SPACS) to find
assets at cheap price.

Dear SONA,

Pls take advantage of low oil price.

Ditch unfaithful Salamander immediately.

Find a new loyal partner instead.

We shareholders are willing to wait patiently.


Regards

http://www.nst.com.my/node/56438

“We will meet up with Salamander next week to discuss the options,” Sona managing director Datuk Seri Hadian Hashim told Business Times yesterday.

“This is a developing situation and we are looking at all possibilities, including conciliatory measures, such as working with Ophir.”

http://malaysiafinance.blogspot.com/2014/11/things-moving-for-sona-petroleum.html?m=1#comment-form

Sona (40% Bualuang) USD 270+- mil. VS Ophir (100%) USD 418.5 mil

gopiwira....itu 0.9 bil is in RM. Around USD 270 mil +-
For 40% stake

Yes. Ophir's offer is worst than Cepsa/Jho Low

http://www.investegate.co.uk/ophir-energy-plc--ophr-/rns/announcement-of-possible-offer-for-salamander-plc/201411210700116535X/


Maybe investors are placing their bet after the recent release of offer by Ophir.

Sona deal better for Salamander?

And one more thing. If Salamander really wants to sell all of its company, they could have done it last year/ early this year when oil price was higher and O&G sentiment
was good.

After all, Cepsa and Ophir's offer is NOT too good to resist either.

My take:

If Salamander desperate for cash = Cepsa/Ophir

If Salamander not desperate for cash = SONA

Sona's offer is not apple to apple, when compared to Ophir and Cepsa.

Sona offer only for 40% of Bualuang/G450, whilst Ophir and Cepsa wants to buy the whole Salamander.

It truly depends on how badly does Salamander needs money. If not desperate, then maybe the best option
For them is to stick with Sona and only consider let go sometime in the future.

After all, Sona offered the most per share basis (around 160p), vs Cepsa and Ophir.

The game is not over yet for Sona. Not blowing the SONA trumpet here, by trying to look at it objectively.

Cepsa and Jho Low's offer is out. They want to buy Salamander outright for 121p. Plus another 24p if further discovery in G4/50.

This is getting more interesting

Sona (40% stake: cash around 160p/share) vs Ophir (share swap maybe?) vs Cepsa (121p +24p)

Ultimately, it's up to Salamander's shareholder to decide

maggiel.....why sudden change of heart? fall through = tak jadi?

Salamander is a hot topic in business news today, which makes SONA deal an interesting subject.

Bank loan secured on 24th. That could be the main reason for sudden surge Friday.

PipiMimi was the one at the MIDF Luncheon with some big fund managers, if I refer to previous postings.

Anyway, thanks for the update.

http://invezz.com/news/equities/14219-Salamander-Energy-share-price-Company-Confirms-Takeover-Interest-From-Ophir-And-CEPSA

This news might be the reason for price weakness today

I agree with CLIQmanagement. SONA management and its related party need to hold majority of
the share, or risk the deal not being approved/spoilt by other shareholders at EGM ( assuming SC approved).

They have to buy more from the market. Maybe the main reason for the price being depressed all this while, so they can collect cheap.

But with QA announcement is just around the corner, they don't have much time to collect at low price. They have to buy up whatever price being offered. Just my 2 cents.

qieen. I like the 'wow' in SONA today =)

It has been a while since last time SONA in action...

I notice this time is quite different. Unlike last
time, it doesn't take so much volume for SONA to
up 5 cents.

Personally, I prefer no news on SONA's QA so soon.
Let it continue go up for a few more days before any
announcement on QA.

Thanks @PipiMimi for the update.

MIDF Luncheon Talk - "Valuing Upstream O & G Assets" hosted by MIDF Research & MIDF Investment.
Presentation by Sona Petroleum follow by Q&A (by Sona MD & ED) on 23 Sep 2014


Anyone go this event? Any update?

Most welcome rikki.

Growth prospect if they managed to seal the Salamander deal:

http://www.investegate.co.uk/salamander-energyplc--smdr-/rns/approval-of-g4-50-environmental-impact-assessment/201409220700051761S/

Salamander owns a few asset. Some are profitable, some are not. Their crown jewel is Bualuang. Early this year, there was unplanned shutdown at Bualuang.

Sona is buying only Bualuang field.

Double bottom reversal in the making?

Correction: It's Lime Petroleum. Not 3D oil.

I couldn't agree more. Look at Hibiscus. Price hike begin not after announcement of QA (3D oil). But after submission of application to SC.

Application to SC within 45 days of S&P date of 17 July.

Wow. All of a sudden...what happen?

Complete conversion of FPSO to FSO which will reduce operating cost by some RM80++million from 2015 onwards...

Sanction of Charlie platform which will convert more potential resource to reserve

Bualuang field itself can provide further growth opportunities...

No wonder Hadian said no more acquisition for the next 2-3 yrs

Sona needs to clear heavy volume T+4 this come Friday.

Agreed with thlim. Sona should be a safe bet for now

Salamander Energy share price being hit really hard. From 130++ pence to around 110++ now.

If Salamander being hit, Sona should be the main beneficiary I guess?

Today's volume is high by SONA's standard. Wondering who are the buyers. Don't think contra players account for most of it.

Perhaps we are seeing entry of funds into Sona? After all according to Thestar today, an undisclosed fund advised it's clients to buy Sona, citing TP of 80-84 cents?

If the historical price of Hibiscus serves as a guide, SONA will climb up all the way until the date of approval by SC (3-4 months time?). Off course, there will be minor corrections along the way.

Hibiscus went from around 0.50 cents (before QA) to around 1.50, once SC approved their QA proposal.

One thing for sure, once SONA completed this deal it will no longer be a speculative stock and funds/investors will be able to better assess it's value.

At 50++ sen, it is a steal IMHO. Though it has already been up by about 10% from 48 sen in the last 3 trading days, the volume doesn't suggest it is being overcooked yet.

Wishing all the best of luck. Enjoy the ride!!

Looking at Salamander Energy price now, I believe something good is just around the corner.

Hope for a pleasant surprise next week!

Pierced through 50 cents, effortlessly. More to come!!!!

Eric/mk88....I use this as reference. Indeed, this is just guesstimate. But unfortunately, this is the only one available at the moment. You may want to wait for full analyst report post S&P. Hope it is not too late by then.

Read here:

http://ateamecm.blogspot.com/2014/07/morning-call-3-july-2014.html?m=0

Sona is hot now. EPS 9.1 sen, PE 5.3 post acquisition. It truly deserves better valuation. PE 13-15x perhaps?