@ozzie75, for an employee to wind up a company is not easy for the amount of money.
He is likely to lose the case. If I am that person, I will negotiate some instead of suing. He may not get anymore job in OnG market.

1. Recently, new guy was hired. That guy and Sumatec may have something up in their sleeve.
2. Remember that last quarter about the profit I was asking. Somewhere in the QR, the revenue is from fart gas!
3. Fart gas price is doing good lately.
4. This coming QR, I expect the sales and profit will be higher.
5. 2 vessels and 72m, as stated, will pay.
6. Now wait for the court to decide pay or not or let the other party sue or claim from HL first.
7. RI = 0.140, to have subscribers, share price has to go higher than 0.140. If not, Sumatec has to eat it.

I am expecting some announcements. Good possibility of "timed" announcement according to the share price movement.

Just a possibility. We never know.

p/s when I look at the buy volume at those price level at 0.07 to 0.085, that accumulation and support is strong.

Now, for that particular "talk", possible another announcement of production progress(new rigs or whatever) to support that target of 3500 barrels per day.

I am expecting the announcement. When? Only God knows when.

@Awangtoklah, since you bought @0.11

if you dare, buy again at lower value, say 0.080 or 0.085, average it

Scenario A: Same number of lots
1. 0.110 + 0.080(if you can get) = 0.190 / 2 = average of 0.095, breakeven
2. 0.110 + 0.085(today can) = 0.195 /2 = average of 0.0975, and breakeven @ 0.10+some profit

Scenario B: If double or triple down the lots on lower price, the average can be lower.
1. double down (0.110x100lots) + (0.080x200) = 27/300 = average of 0.09, breakeven
2. triple down (0.110x100lots) + (0.080x300) = 35/400 = average of 0.0875, breakeven @ 0.090+some profit

Don't forget to add those tax, commission, and whatever the bank charge to the calculation.

Well, averaging is another method of getting the hell out.

The question is "do you dare or not"?

If the price break the 0.100, you may want to sell some, sell all, or hold until end of 3rd wave.

Just a simple average humble opinion.

Invest wisely.

@ozzie75, forgotten to say Kong Hee Fatt Choy to you. Too busy.

@Leoleo, still having a hang over from 11 days celebration!

MON MON TAN. for lower price.

@DreamPredator, if possible, translate to English where we can understand.

@Leoleo,

Here you see the oil price movement
http://elliottwave-forecast.com/chart-of-the-day/crude-oil-extension-higher-expected/

Here you learn
http://elliottwave-forecast.com/elliott-wave-theory/

It is good to be humble. If that person wants to be an ass, just let it be.
In the forum, we share and learn.

Invest wisely and have a good day folks.

here are images of the waves

https://www.google.com/search?q=the+ultimate+elliott+wave+forecast&client=firefox-b&source=lnms&tbm=isch&sa=X&ved=0ahUKEwj9ptDkgf3RAhULp48KHaHPAtcQ_AUICSgC&biw=1233&bih=893#tbm=isch&q=the+elliott+wave+&imgrc=_

when a X wave is started, the X wave will have smaller 5 waves to form that X wave.

By looking at the volumes at the 0.085, it was aggressively bought since last week Friday and today. No matter sells, the buyer(s) really eat those. Very interesting scenario.

Lots of investors missed the 0.075 to 0.085. The opportunity cost was there and was ignored. Well, still have the opportunity to grab the 0.085 if you know how.

Trade at your own capability, invest wisely and don't be a jack ass when earning a few cents from here or there (you all know where).

Have a good day to you all.

who is collecting those 0.085?

@Leoleo, refer back older comments. Technically, the chart already shown the /|\ since 23/01/17.
Did you remember the calculation you had done. Recalculate it again.
Here are the dates.
07/12/16 start
05/01/17 end wave 1
23/01/17 end wave 2
xx/xx/20xx wave 3 end!!!
xx/xx/20xx wave 4 end!!!
xx/xx/20xx wave 5 end!!!

@MrRoy, well, you are a real Jabrones. Or should I say, idiot. Since you have been saying the investors in the Sumatec are Jabrones, and you participated in the Sumatec's forum, you can also classified yourself as mother of all Jabrones. Deleting the commented comment, will not escape the idiocy which you are showing in the forum.

Please get a life. Your ego smell like a pig manure.

"MrRoy Hello Jabrones if u smell la,la,la,la..!! Just a final minor shot up before the great fall after loose case in court..
03/02/2017 12:15"

Since RI is at 0.140.
1. Will they jack the price up higher than the 0.140 for the investors to subscribe?
2. Since oil is on the way up, what are the chances of the jack and possibility of the above two scenarios+additional scenario may happen?

Just a possibility that this No Man Land need to stop drinking. ;)

Adios, Kong Hee Fatt Choy and wish everyone best in life. Ah! don't forget to hug your love one.

The interesting part of the last few announcement was that TSHS sold and then become "others"
Who are the buyers? Proxies!!!

share price at 0.075, increase of 1 cent, 0.085
1000lots = RM1000
10,000lots = RM10,000
100,000lots = RM100,000

1,000,000lots = RM1,000,000
10,000,000lots = RM10,000,000

share price at 0.075, increase of 2 cent, 0.095
1,000,000lots = RM2,000,000
10,000,000lots = RM20,000,000

share price at 0.075, increase of 3 cent, 0.105
1,000,000lots = RM3,000,000
10,000,000lots = RM30,000,000

share price at 0.075, increase of 4 cent, 0.115
1,000,000lots = RM4,000,000
10,000,000lots = RM40,000,000

share price at 0.075, increase of 5 cent, 0.125
1,000,000lots = RM5,000,000
10,000,000lots = RM50,000,000

share price at 0.075, increase of 6 cent, 0.135
1,000,000lots = RM6,000,000
10,000,000lots = RM60,000,000

share price at 0.075, increase of 7 cent, 0.145
1,000,000lots = RM7,000,000
10,000,000lots = RM70,000,000

If that person has 10 proxies with 1,000,000 lots each, job done

Will they stop at 0.145?

Damn, I am so free thinking of the above nonsense.

Just for the heck of having nut case scenario.

Where is my beer?

Crazy question.
If a person or proxies buy and collect at 0.075 and below.
How many lots does this person or proxies need and at what price to sell to generate 72mil or 72mil less 2 vessels?

Just for the heck of passing my CNY time.

Nah. I don't think PN17 will happen. TSHS is not effing crazy to let it happens again. As stated on last announcement, TSHS will eat those 72mil default payment.

Possible of 2 scenarios.
1. The court OK, No payment
* Sumatec, OK,
* TSHS OK,
* TSHS' proxies, very big OK
* Plus sold 2 vessels

2. The court KO, must pay
* Sumate, OK
* must sell 2 vessels
* TSHS KO = his personal RMxxx mil - (72 mil - sell 2 vessel) = RMyyy mil left
* TSHS' proxies, still OK

Sumatec and TSHS still ok no matter what is the outcomes ;)

So, everyone also OK

Additional scenario
BPMB will tried to get HL to pay. Unsuccessfully.
BPMB will hit Sumatec again.
Now, back to Scenario 2.
TSHS already very OK on Scenario 1.
TSHS and Sumatec have no problem of paying to BPMB

Again, everyone also OK again

Just a crazy nut thought from No Man Land.

hmm! PN17 also not bad idea. Come on, Bursa please PN17 this Sumatec so that price can go up like last time. After that, settle the default payment and removal of PN17, share price can go down for all I care.

I have to no problem. Please PN17 this company.

when oil price dropped, every oil(or related)companies and countries were suffering.
the only benefit are the consumers.

Will there be any benefit if oil price drop to 30 or 40 range for the US shale?

I am not thinking too much about the oil price. All they want is higher oil price. They know it. Report is just another report. All win.

do you think US shale increase their production is good for them? They like poker games.
US and Opec(+non Opec) are worried and don't want low price. Both have to give in soon or later.

Now is just January 2017.

who or which country do not want high price?

Do you think the US shale want to see the 40, 30, 20, 10 again!

Monday oil up. What choice does Opec and non opec have. Even US shale also worried.

@bc1234, just copy the link and paste it. We can just click on the link and read it.

Leoleo, do you know the time for the court case?

Now, I am KO, need to sleep.

Have a good evening and good night folks!

Oh! 5th + 14days = 20th due.
if court ok, don't have to pay, TSHS ok, Sumatec ok, TSHS' proxy = bigger OK
if court ko, TSHS ko, his personal account RMxxxmil - RM72mil = RMyyymil, Sumatec ok, TSHS'proxy also OK

Sumatec and TSHS still ok no matter what is the outcomes ;)

And we all also OK

if TSHS' proxy has collected those 0.07x, and the court ok or ko, sumatec still ok.
when price up, TSHS ok again. hmmm. I will do the same.

Just a crazy thought.

9th + 14days = 23rd due!!!
on 20th submit something to court.
if court ok, don't have to pay, TSHS ok, sumatec ok
if court ko, TSHS ko personal account RMxxx -RM72m=RMyyy, sumatec ok
Sumatec still ok no matter what is the outcomes. ;)

@vick,
"5. this is shark swim around. may be today buy at 0.07 tomorrow flood out to 0.06. (depend market)"

This shark must be very stupid. ;)

Sumatec Resources Bhd has come out to emphasise that the group’s former bondholders’ demand for RM72.33 million would not affect its financials as its substantial shareholder has pledged to absorb the impact should the obligation materialise.

1. Why TSHS wants to make sure Sumatec will not get into problem?
2. Why TSHS disposed some shares before received the loan termination?
3. Was TSHS need to money to settle the loan?
4. If Sumatec is really "tin kosong", why saving it!
5. Why 0.070 and 0.075 has the strong support? Who is accumulating?

Interesting eh!

@Bro ozzie75, yes, I did searched the Google earlier in the morning. That was why I asked the question. Thank bro ozzie75 and @strategisst for clarified my head.

Now, wait for the Feb QR, and 20/01/2017 default issue.

Bro, you all have a good evening.

12 months or so. Is the a/c receivable about time to receive? Interesting part is about the default where TSHS dared to pay if require to. Trying to figure out coming QR in February.

Bro ozzie75, thank. I was trying to find those in the reports.

if they have that forward contract under the a/c receivable, then they good strong cash position.
this forward contract is what I trying to find out.

say, assuming that they hedge or sold the oil future contract to certain buyers. Will it include in the Sales Revenue or place it at Account Receivable?

... continue please ... I am learning

... I prefer it to go side way while buyers are accumulating. This "accumulation stage" is healthy for the next wave.

... or it may go side way for awhile because of those countries yet to cut the oil production. February and onward may be the good months for the oil price to move.

Just my humble opinion.

@amet2017, 2nd wave is about to turn. But, due to current oil price, the Russian needs time to reduce the production. Therefore, 0.070 and 0.075 still stand ground.

IF yesterday oil price did not dropped, the chances of new wave formation is there earlier than expect. From TA, looks like the 3rd about to form.

Just my observation. The decision and risk is yours to make and take only.

http://www.wikihow.com/Account-for-Forward-Contracts

Getting interesting about Sumatec's Account Receivable.

I am not sure. @strategisst and ozzie75. Care to share it?

... further more, when looking at natural gas chart, those Sumatec quarterly profit did seem to follow the natural gas for 2016 then oil price.

Unless, those trade account receivable was hedged and not yet classify as revenue. Is it possible?

I don't know much about accounting, I know profit.

Can someone has the knowledge of accounting elaborate and help out here?

Another interesting point to ponder.

When oil price was below USD50,
1. last 3 quarters, Sumatec had profit.
2. Was the profit from gas?
3. If so, gas price was on the up progressively.
4. same as oil price

Any FA can find out the what actual sales revenue come from? (Gas or Oil)

I don't nut about FA.

Care to share!

Yesterday oil price dropped. A warning to US shale, Opec, and None Opec. You increase, oil price drop.

@Leoleo, in share market, the more you "blow water", the more mistake you make. Take it easy. It is just a share market.

God, family, life, and friends is more important then share market.
Have good morning and smile a lot even the market drop.