@focus - how many times you want me to post the same thing - since you ask, I post again, please read this time ok.

I repeat my earlier comments for the benefit of those who have not seen.

VALUATION OF SONA: Let say at cheapest Sona paid USD18/barrel for 40% acquisition, USD16/barrel is their share for operations, USD50/barrel go to local government (at MINIMUM) to cover all taxes etc. (The cheapest place to drill is Phillipines). Take USD100/ barrel sale price. That leaves you with US$16/ barrel as your profit for SONA to take home to Malaysia to cover their own expenses and to pay bank loan etc. Is this enough? You will be fooling yourself only. Take my numbers and go and see Oil and Gas experts and ask them to check them for you please. Get verification. Go and get all these verified. Stick to hard facts and figures. Deals are all number games. Its not that complicated. I again re-iterate - go and seek expert advise and get the numbers verified.

One more thing that you guys should worry about, for such a big deal of close to RM1 billion, their announcement was so vague and with so little meat and only 4 pages??

SONA AND HIBISCUS: My fear is greed because people here compare SONA price and Hibiscus, and they think oh! Sona can become like Hibiscus. I am telling you, you are comparing two very different approach to business model. Hibiscus business model is completely different from Sona. Similary - you CANNOT expect EXXON, Shell, Murphy, Lundin etc to have the same share price in the stock exchange.

SHAREHOLDING OF SONA: Don't let the big boys get richer at your expense. Check the facts and figures. 5 cornerstone investors have sold out, the largest shareholder holding at 1 cents remaining at 20% stake is SONA management itself. Go compare Hibiscus - I just did - NONE of their major shareholder have sold a single share of Hibiscus. So, you know something seriously wrong with SONA.

Summary: Just do yourself a very important favour - go and seek expert advise in the Oil and Gas on the numbers. You got nothing to lose if you seek the truth!

LOL - cannot cheat people is it?

Clj Jun - YOU SHUT UP! What logical and credible explanation have you come up with the recent fall? I don't care about YOUR MONEY. To me you are already a loser if you did not spot that sharp fall!!

I care about other investors who don't know what they getting into and will warn them of falling into this trap bcause of people like you and king do stock who have no substance and credibility and continue to shout buy for what!!! So you can get out??

The truth hurts but you cant hide it and can't run away from the truth - I will give my advise to those who want to listen. And why not you grow up and challenge my numbers and posting factually. So next time you post, grow up and talk substance!!!

Please if you genuinely want to invest and make money and save your investments, find out what you are getting into. Ask the right question - get the right answers and then make a conscious decision. I ask you guys truthfully, how many of you are really making money?

No shame king of shit!

Focuz lost focus!! SONA Top 30 shareholders hold less than 30% shareholding of the company with the management holding 20%. Hibiscus top 30 shareholders hold more than 80% of the shareholding with management only holding 15%. Two different model.

So don't try to confuse people. Stick to facts and figures. End of the week you will see where SONA lies. Long winded story tales are just tales!

king of whatever - Where is your 100 million shares - It is NOT listed?? No 2 largest shareholder is already 40 million - can you STOP lying now!

LOL - that is all you can say now - because that is what you do laugh and lie.

For comparison I give you Hibiscus Petroleum Annual report:

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1646665

There shareholder listing is 165 and 166 of this report - you can compare this listing of shareholding and check with their 2011 annual report. Surprisingly you will see that some of their major share actually increased their shareholding since 2011.

Now you go and compare SONA shareholder listing since listing and you will know the truth. On top 10, the 10 largest shareholder holding only less that 0.85%. So the big boys have cleverly distributed everything since listing.

Clj Jun - I give you hard facts - What you give to this forum? Please don't mislead people with their hard earn money.

This is 2013 Annual report of SONA - Please read page 83 and 84 - please once again stick to FACTS and figures. The only largest shareholder is SONA management itself which holds 20% and their price is 1 cent.

The next nearest person only holds 2%. The truth is already in the report for you to see. Here is the report.

http://announcements.bursamalaysia.com/EDMS/subweb.nsf/all/039D9E923461EB3248257CE1002EC837/$File/SONA-AnnualReport2013.pdf

If misleading here is the proof. Top 10 shareholders.....

1 CIMSEC Nominees (Tempatan ) Sdn . Bhd . 282,142,800 20.00
CIMB for Platinum Autumn Sdn. Bhd. (PB)
2 RHB Nominees (Tempatan ) Sdn . Bhd . 40,000,000 2.84
Pledged Securities Acco unt for SMB Reso urces Sdn. Bhd.
3 Citigroup Nominees (Tempatan ) Sdn . Bhd . 23,563,900 1.67
U niversal Trustee (Malaysia) Berhad for CIMB Islamic Small Cap Fund
4 HSBC Nominees (asing ) Sdn . Bhd . 22,739,500 1.61
Exempt an for JPMorgan Chase Bank, National Associa tion (Norges BK)
5 Maybank Nominees (Tempatan ) Sdn . Bhd . 17,671,500 1.25
Mayba nk Trustees Berhad for MAAKL-CM Shariah Flexi Fund (270785)
6 RHB Capital Nominees (Tempatan ) Sdn . Bhd . 13,500,000 0.96
Pledged Securities Acco unt for Chan Seng Fatt
7 RHB Capital Nominees (Tempatan ) Sdn . Bhd . 13,070,000 0.93
Pledged Securities Acco unt for Lim Beng Keat (CEB)
8 RHB Capital Nominees (Tempatan ) Sdn . Bhd . 13,000,000 0.92
Ta n Ye t Meng
9 Maybank Nominees (Tempatan ) Sdn . Bhd . 12,070,400 0.86
Mayba nk Trustees Berhad for CIMB-Principa l Small Cap Fund (240218)
10 CIMSEC Nominees (Tempatan ) Sdn . Bhd . 12,000,000 0.85
CIMB Bank for Ko h Kin Lip (MY0502)

I repeat my earlier comments for the benefit of those who have not seen.

VALUATION OF SONA: Let say at cheapest Sona paid USD18/barrel for 40% acquisition, USD16/barrel is their share for operations, USD50/barrel go to local government (at MINIMUM) to cover all taxes etc. (The cheapest place to drill is Phillipines). Take USD100/ barrel sale price. That leaves you with US$16/ barrel as your profit for SONA to take home to Malaysia to cover their own expenses and to pay bank loan etc. Is this enough? You will be fooling yourself only. Take my numbers and go and see Oil and Gas experts and ask them to check them for you please. Get verification. Go and get all these verified. Stick to hard facts and figures. Deals are all number games. Its not that complicated. I again re-iterate - go and seek expert advise and get the numbers verified.

One more thing that you guys should worry about, for such a big deal of close to RM1 billion, their announcement was so vague and with so little meat and only 4 pages??

SONA AND HIBISCUS: My fear is greed because people here compare SONA price and Hibiscus, and they think oh! Sona can become like Hibiscus. I am telling you, you are comparing two very different approach to business model. Hibiscus business model is completely different from Sona. Similary - you can expect EXXON, Shel, Murphy, Lundin etc to have the same share price in the stock exchange.

SHAREHOLDING OF SONA: Don't let the big boys get richer at your expense. Check the facts and figures. 5 cornerstone investors have sold out, the largest shareholder holding at 1 cents remaining at 20% stake is SONA management itself. Go compare Hibiscus - I just did - NONE of their major shareholder have sold a single share of Hibiscus. So, you know something seriously wrong with SONA.

Summary: Just do yourself a very important favour - go and seek expert advise in the Oil and Gas on the numbers. You got nothing to lose if you seek the truth!

Clj Jun - Amazing that you are still defending him with all his lies. Something is not right here. Sure you not him? Anyway - the only TP is once you confirm the facts and figures. They have only ONE deal and that's its. Its already announced. Take it or leave it. The numbers are there and I have provided the numbers and what will SONA take from the deal . There is no other deal for anyone to "goreng" etc. They have no money to make another deal, they will be in debt, so why talking about all this "goreng"?

For those who don't know the oil and gas business - THIS IS AN EDUCATION!!!!!!

Clj Jun - you can earn two times - I am very happy for you seriously. And you are still here. That is the danger, each time you might come in stronger, and when it drop badly, you might get burn. The danger of this happening is very tangible. That is why we must be prudent to find out facts and figures of this important announcement as SONA only has ONE and only ONE acquisition, they are putting everything into this one deal. It if fail, all our money gone! So, your earning up to now, can become loses at the end of the day. That is the big worry, my friend!

I am with you guys - we should not lose our hard earn money to the big boys simply because they can list and announce something big. We must understand what they announce and what they plan to do with our money and investment. The same way when you save money in the bank or other investment.

Funny when people post "hoping to make money"...............what if the facts and figures proof that it is not going to make money? Are you going to hope still?

This counter now go to sleep! Heavy load makes it so difficult to move.

KING OF SHIT - STOP all your lies please!! I already expose you for your lying. Show us your 100 million mother and 200 million warrant and then you can be trusted. And also Sharks swim in water, cannot leave in land.

I challenge you to verify my numbers posted. Go and check with the experts and prove my numbers wrong. Stop lying and stop hurting the smalltimers who are NOT in the oil and gas industry and who have no clue of what is going on. My fear is greed because people here compare SONA price and Hibiscus, and they think oh! Sona can become like Hibiscus. I am telling you, you are comparing two very different approach to business model.

Don't let the big boys get richer at your expense. Check the facts and figures. 5 cornerstone investors have sold out, the largest shareholder holding at 1 cents remaining at 20% stake is SONA management itself. Go compare Hibiscus - I just did - NONE of their major shareholder have sold a single share of Hibiscus. So, you know something seriously wrong with SONA.

Just do yourself a very important favour - go and seek expert advise in the Oil and Gas on the numbers. You got nothing to lose if you seek the truth!

alexyap - Take my numbers and go and see Oil and Gas experts and ask them to check them for you please. Get verification. Go and get all these verified. Stick to hard facts and figures. Deals are all number games. Its not that complicated. I again re-iterate - go and seek expert advise and get the numbers verified.

One more thing that you guys should worry about, for such a big deal of close to RM1 billion, their announcement was so vague and with so little meat and only 4 pages??

Clj Jun = King of Stock - same person. Stick to facts and figures better so you wont cheat other people hard earn money. 50% buy and sell today. End of the week you guys will know and see the light and end of tunnel. Sharks swim in water. Sharks don't know how to buy or sell shares. They die without water.

Said at cheapest Sona paid USD18/barrel for 40% acquisition, USD16/barrel is their share for operations, USD50/barrel go to local government (at MINIMUM) to cover all taxes etc. (The cheapest place to drill is Phillipines). Take USD100/ barrel sale price. That leaves you with US$16/ barrel as your profit for SONA to take home to Malaysia to cover their own expenses and to pay bank loan etc. Is this enough?

I read the recent comments and find this forum one of the most depressing forums! Where are the promoters? How come no die hard promoters. Look at SONA, even with only 1 raw deal, they have so may promoter. Here, I read their presentation paper, they have so many activities, but no one interested to promote! Very funny!!!

Like you - I too want and wishing everyone the best of luck! Hope everyone makes money. All the best!!!

SgMas - That is where you went wrong - when I first posted that something is wrong it was still 61 cents. So - think first. Some people give valuable advise. Intentions are sincere. Don't let the big boys eat your hard earn money. That is always the case. The rich get richer at the ikan billis expense. So - you want to be safe - stick to hard facts and figures!!!

Well said derrickinvestor! Also please stick to facts and figures.

sarabi3388 - you too MYOB - please stick to facts and figures ok. No. 1. Counter still down from 61.5 cents just before announcement. So - nothing to shout about - if announcement so splendid, the counter should have drastically moved up! No.2 King of shit claimed he has 100 million mother and 200 million warrant - that is a lie - please don't mislead people - we don't need people here to cheat. Already have the big boys doing a good job at it!!! so spare me your cry!!

king of shit - still waiting for your 100 million proof....don't need to hear more lies about king shark or other kings!

Dead cat bouncing! Trap. See warrant you know. They want to make sure got enough supply of buyers before the dumping begin.

Reloaded more today! Joining the bandwagon.

Don't aim so high. Mid 80s good number to go with!

king of shit - a liar - where is your 100 million shares - please proof to us? Facts and figures please.

Again speculation - stick to facts and figures and you won't get your fingers burnt by the big boys and cunning people. Please understand the sell down had a significance. Hibiscus got the REX technologies that can detect oil in ground. They claim 85% success rate even that strike rate is 50%. What does SONA has? Nothing!

Please go and get your expert friend in oil and gas to tell you about this production and opex/ royalties / taxes / etc and how much is actual net profit you finally make? Throwing numbers in thin air doesn't demonstrate anything.

Friend - I strongly urge you to stick to hard facts and figures as what you will do when you tally your bank account. Remember, the management of SONA knows the game plan, do you??

Hhakim - one more - why they lazily put all the money in one investment and yet got no control - furthermore have to borrow from bank to fund this. Would you take the risk when you don't own controlling stake and now you own bank RM400 million?

That is why big and smart investors ran away!

Hhakim - lots of people here got no clue about all these things. Even CI nowadays not effective overtime as the tubing and pipelines are replaced. Look at Petronas pipeline replacement project this year alone you will know how damaging water can be to oil production. Anyway - good to have intellectual discussion for a change.

GOR wells are much easier to handle compared with WOR. We wait for other experts to comment. Hhakim thanks .

LOL - nobody is arguing with anybody- just stating facts and figures and exposing the truth.

Well said hhakim. Other concerns you need to be aware is SONA will not have control on decision making on the producing field and they have place every time in this venture. Also drilling is risky business. With 10% success rate, 2 wells have 20% strike rate. One begs the question, if the exploration area was so good, why didn't Samandar drill themselves or negotiated part of it. They are completely out. All they want is cash as cash is king.

Back to basic - 20% on heavy volume. You guys who still believe - let's see what we end up by end of this weekend? If 5 of the cornerstone investors also Cabut before the announcement , and most of the big boys leaving the scene after the announcement, maybe some of you loyal supported and the management can have a round of golf after AGM?

hhakim - well done! that is a good expert on the first part. Now you know one reason Salamdar selling. It is not a straight forward asset and have serious water in oil issues later on as they continue extracting out the oil. More complex issue will surface as more water is produced. Nobody sells something that is so good, unless they get a good deal!! Salute to Salamander who has made such a good deal!!

One year past very fast, after that kaboooooom!

Very surprised you cannot see why funds dumping. Here's the take - ALL the money and massive borrowing only for only ONE deal. - and risking heavily by tTking 40% stake means SONA will not be n control, control still with Salamdar. The management of SONA just want to goyang kaki. It is evident because they just interested in 1 acquisition only. Also for the 2 exploration drilling that Salamdar are forking our money (obviously from the payment from SONA of course with a certain capping as SONA purchase price is fixed). If both exploration fail, SONA will claim, no financial lost to the company and bottom line - BUT by right, they already paid for it UPFRONT. This is called camouflaging the deal. So - they continue to goyang kaki so long as Salamader delivers.

During this time , they will slowly offload their 1 cent shares to you guys and Cabut. Even counter 30 cents after QA as after QA, when they can sell , they can pocket close to 80 million cool cash. Now who don't want this kind of SPAC business- just get other people money , fully load upfront the deal, don't do anything, and let other deliver some results and you slowly cash in at the expense of gullible investors. IF QA fail, they can keep 10% only of intial IPO take. Either way - the management kaya! Goyang kaki kaya. If they were holding majorly and running the operations of having other plans then you can say they are serious and making concerted efforts of taking care of their shareholders.

On 16 June - during AGM - ask this questions at KLGCC and don't let them play golf afterwards.

My friend don't take this personally - a lot of people here have given you good advise. Best advise is you check with your expert oil and gas friend lor. Facts already there, after announce dumping already started. It's your money, your choice. I write because I seen this before how the big boys make money at the expense of everyone else. You also must remember this is a SPAC. This is not a company that was doing well before and have track record and then only got listed wor!

No need to hide inside lubang, I stay inside house. No point talking later when you already lost all your money lor. I will still be around. LOL.

Hope they just don't dump all the money in one acquisition. Better to have 1 or 2 options ler!

My dear friend - Before announcement it was 61.5 cents, you hantam everyone here who give insight if it goes back above this price end of next week ok? How many people now are trap because of poor judgement and knee jerk reaction. Go and seek expert advise lah. You will know the truth. Don't just become the blind leading the blind and let the wolfs eat your hard earn money.

This is exactly what is wrong with this forum, you keep talking about goreng and forget about fundementals. So you lose you hard earn money to those who know how to trap you because of your greed!

At least trading below 90% premium - still safe bet! When QA? Hope they don't mess up like SONA. Very lazy only one QA and want to borrow some more. Management want to get rich quick. Better go for the get rich quick scheme lor!!!

LOL, then you also sheep, slowly slowly go to sleep! Sheep go to sleep!