It’s not 100 Million buy back. That’s just rebalancing of the parent Co accounts so they are then allowed to proceed with buy back. The buy back is 10% of all shares.. around RM210 mil at today’s price .. and they already have 600mill++ cash (pat) for this

Not sure who keeps spouting that it’s only RM100million for the share buy back. It’s not. It’s 10% of all shares. Circa 200million shares.. the rebalancing of the books is a separate exercise. They have over 600 million in cash they can use for the SBB. And that Excludes the results for last quarter coming very soon and the big quarter they’ll have this quarter. With winter in the northern hemisphere, opec cuts, Russian embargoes, share buy backs, high oil and gas prices and big profits continuing its a perfect storm for Hibby

Well that's not right actually..they are buying back 10% of the shares which is the same as getting an 11% increment in share value/dividend. At the same time I'm sure it'll address the issue with stock price undervaluation and shortsellings. I also think this current quarter will be fantastic now that Anasurias riser is fixed and is back at full production and SE Asia is sorted and downtime will be low.. They're saying 2.6-2.7 Million BOE this quarter. If prices average US$90+ that's RM1.1 Billion for the quarter minimum and with PAT of at least 25% that's another RM275 Mill profit and all the share buy back, plus some, is completely paid for.. Very smart

Bruce Wayne.. No ones buying your rubbish. Very naive. Who owns Petronas and who owns the majority of Hibiscus's production contracts in Sabah..Go somewhere else.

This whole counter is based off what the oil price is at daily.. Not the exceptional work hibiscus has done to add production and value over recent years.. Maybe this next month or two is down
.. until the market realizes that they are returning over 25% annually to share holdings, which they will payout on, and it's ongoing..cos even at 70 or 60..Hibby is still making loads.. What other asset classes will continue to make money with what's coming? Any ideas??

I think you are being premature there. Hibiscus annouced final dividends for last year in October. I'd expect the same this year. They also have over 500 million cash and probably close to 700 million by the end of this quarter. That's cash after tax.. I beleive dividends are coming and they have stated this in the past also. If you see earlier conversations in the feed you'd know that Sabah State Gov is out fishing.. Trying their luck and they'd lose if it goes to court.

How pathetic this guy is..adds absolutely no value or insight into anything with Hibiscus

Omaha Oracle.. My bad ;) am sure you can guess who that is..

Even if oil goes to $72 as our friend rr88 suggest (with so many caveats and unsubstantiated ifs and butts that it's sounds exactly like a KL court room), Hibiscus is still making money! Its cost for extraction are low.. Really low at $20 and PROFIT starts from there minus any developmental and other expenses they want to progress.. So I'm quite happy for oil to fluctuate where it is now but they remain immensely profitable and, as spare cash is developing (after their other great developmental investments are funded), I start to enjoy significant dividends. If anything the last two years have shown that oil and gas are essential for many years to come, and enterprising, well run, businesses are still good bets. Let's just refer to the Oklahoma Oracle for the last point.. Hes locked and loaded billions of dollars investment this past quarter in exactly this.. Is he wrong?

@newbie8080

I think you'll find these are wrapped up in ongoing operational commitments which convert to operations expenses each quarter. Short term is 193 million which includes trafigulas 88 Mill credit line to help with repsol acquisition. Don't think they're much of a concern

This is a great company with huge cashflow, retained profit and no debt, common sense will prevail

Hibiscus has hardly any debt.. What u talking about..more rubbish

Gosh what is it with these short sellers.. Wish they'd FO

Awesome result

Market thinks about oil price only..and hasn't seen the impact of gas into their results, which we will only start to understand later this week when the full repsol acquisition impact will be finally included.

Nup

Really interested to see the impact of gas prices on hibiscus's performance.. Gas equivalent of US$410 a barrel in Europe presently and almost that in North Asia..30% of Hibiscus's production is gas....

https://oilprice.com/Energy/Natural-Gas/Europes-Gas-Price-Is-Now-Equivalent-To-410-Per-Barrel-Of-Oil.html

Interesting to see the Sabah Minster is now very careful with his statements as Petronas is now involved. All of Hibiscus Sabah wells are production sharing contracts with Petronas, and now they are involved, I suspect all will go quiet shortly

rr88 take ur doom and gloom elsewhere.. Still waiting for ur 55c.. Sounds like BS to me

Gas is now at the highest it's been in the past 12 months.. So although Oil prices may have come off slightly (but is still high), gas has not, and Hibiscus will continue to benifit. Market here is very one dimensional and a few more quarters results will reinforce the value Hibby offers. Looking forward to next week's results and beyond.

I'm very interested to see the effect of gas now being 30% of hibiscus's production on its revenues..this wasn't clear last quarter, and we know that Gas is in very high demand at present as Europe scours the globe to build reserves to ride out winter. Even though oil has dropped (but is still very high), gas is up 60% from the beginning of the month, and thats just spot prices from the US.. Not including the premiums being paid by Europe now to secure supply. So interested to see how this plays out with Hibiscus revenues. I think this current quarter will also be very very profitable..

They have already provided their production forecasts for this quarter and oil has already gone up.. So the revenue range is 900mil to 1.1 billion.. I reckon not quite a billion.. Profit after tax for the quarter around 30% - 300 million..

I think 1.3 billion is a bit optimistic.. Herbal consensus is in the range of 900mil to 1.1bil with PAT of around 300million for the quarter.. They will make more than double in one quarter than they did all of the last FY..

It's sold a a part stake in a discovery made in Australia it was never going to develop..I'd call that smart business.. Assets in the UK are being developed sooner than originally planned cos of euro energy crisis fast tracked govt approvals with first oil expected late 2024.. They own the assets outright but are looking for a partner to take a stake and essentially finance the whole thing..again a smart move, not taking on any debt/risk

5.4 to 9.2 this month!

Gas is also up to US$9.2 from US$5.4..guees who benefits from that..I guess it helps that Hibi has spent the last few years adding significant value to shareholders by acquiring assets.. assets that produce and were bought at bargin base prices without significant leveraging ..perhaps that's why the business isn't worth 20 cents or even 87 cents anymore.. The sum of all parts are worth much more..all the naysayers please find me a business with no debt.. Making rm100 mill plus month free cash flow which is only worth 1.7 billion and has assets three times that.. John waiting for all ur wisdom rather than fear mongering.. Let's see what the next two quarters results hold..RM600 million FCF i bet.. Tell me again it's worth 20 cents...sell me alm your shares at that...pleaseeee..I buy all

So much for the argument that oils gonna crash.. https://oilprice.com/Latest-Energy-News/World-News/OPEC-Is-Now-284-Million-Bpd-Below-Its-Oil-Production-Target.html

Sorry Johnzhang, you are full of it. What u have said is completely incorrect and farcical.. Stop sowing seeds of fear.. Find another forum with those who don't know.

We should take a poll on that

Anyone for less than 55 eps for Y2022 ? There’s a challenge

Yep

EPS.. 12 months ending Dec 2022.. 55+ cents.. Any takers? ;)

Such sensationalism.. Its all as if Sabah somehow is right and can just charge whatever it likes in tax. Even if there is a settlement it won't be anywhere near 97million.. If anything! Hibiscus has also said it can continue to operate with exist Sabah based staff albeit at reduced levels.. There will be a positive resolution.. PETRONAS is also involved, and all thwt goes with that
.What the market also continues to not undertsand though is Hibiscus DOESN'T SELL OIL AT BRENT PRICES, it also DOESN'T SELL GAS AT GAS PRICES.. Everything, and I me at everything, is being sold at a premium.. They are still transacting way WAY over US100 for oil and way WAY over US8 for gas.. Even today!! They will make at least as much this quarter as last.. RM 550million profit is my bet for 2 Quarters.. Now KS88 tell me again that Hibiscus is only worth 55 cents..that will he the ESP for this calender year!!!

Dreaming.. California dreaming

Again the reaction is nuts.. Representing a completely unjustified tax of no more than 2% on hibiscus total revenue but share price tanks 10%.. Wt...F.. I have alot more trust and confidence in Hibiscus and their statements than sensationalist politicians.. Are they going to halt Petronas also..they are actually the majority partners in almost all of hibis production sharing contracts..never a dull moment

My sentiments exactly Twynstar, well put. I also like that they have diversified into gas.. Which is way up this month and we know the supply problems Europe is having.. I also think they are ambitious and want to continue to grow, they have very valuable assets to develop in the north sea which, through partnership, may cost them nothing.. I also don't think that Singapore Energy SPAC has gone away either.. A great business with vision. Exciting times ahead

Saying that some how Hibiscus is in for doom and gloom when Brent Oil is still above 100 and gas prices are rising is mad. They've tripled their production and July - Sept will be another strong quarter.. If they turnover RM1.8 billion in 2 Quarter and Make RM500 million + are they still only worth 85 cents.. Too many naysayers in the market talking rubbish!

Yep, the stock price is not justified. Been buying more..

30% of hibis output is now natural gas.. Hasn't gone down and trading at all time highs. Buffet also double down on Occidental investing billions more last week.. I wonder what he thinks is coming..

https://oilprice.com/Energy/Energy-General/The-One-Commodity-That-Wont-Stop-Soaring.html

Funny as I say that oil jumps up $2

Anyways not in it for the short term.. Oils not going anywhere and hibiscus is well placed to do exceptionally well over the next few years

Yes.. It is disappointing. Hibiscus PR haven't helped by remaining silent over the past 6 weeks while 1.2 billion of shareholders value disappeared. I beleive alls good but there's a lesson to be learnt here about perception and managing that. I also don't beleive the short selling numbers the SEC states.. Clearly it's been manipulated over the last month..

Just to correct earlier.. Dtk M would've netted around 223 million if he'd got out at 1.51. Instead hes taken a 110 million bath and thrown another 18 Million in for good measure..

Does anyone know what the average position cost price is at present?

Well if Dtk Michael bought his initial shareholding at 50 Million as you suggest.. He just invested over 18 million to up his shareholding by only 11%.. Why would you do that if you think it's still heading down. Why would the largest shareholder in Hibiscus head back for even more and a significantly higher price if he doesn't beleive in the business and significantly higher future upside. His cost average has climbed.. I suspect he also knows that big dividends are also coming which will cover off his ongoing investment. If he wasn't supremely confident in the future of the business he could have offloaded his shares at 1.50 and he'd have netted RM100+ million.. Instead he's taken a 100 million+ hit and gone in for more...what does that say?...

The other interesting this is that all of Hibiscus's oil production in Malaysia is Malaysian Tapis or equivalent. These are the best grades in the world with the lightest APi (gravity) and extremely low in Sulphur which requiring far less refining, ideal for producing high quality fuels, and as such it's priced differently. So while Brent dropped as low as 102 last week, Tapis only went down to 118 a barrel, and it's also on its way back up again. Perhaps with refineries under pressure to meet northern hemisphere fuel demand it will head up even more..
https://rentar.com/best-crude-oil-world-crude-oils-better-others/

https://oilprice.com/Energy/Energy-General/Oil-Prices-Bounce-As-EIA-Fails-To-Publish-Inventory-Data.html

Interesting thing for me is that Gas prices in Asia have been under upward pressure as Europe scrambles to replace russian supply. 30% of Hibiscus assets production now gas..

Whole percent.. I meant ;)

Datuk Micheal back in with 20 million shares... Another whole of the business..Lapping up what all you panic trades and short sellers don't want from what the fear mongerers have been sowing..maybe FY Q4 is exceptional...

Wouldn't you.. Remember they were looking at a SPAC there recently.. They aren't silly and their management hold alot of equity which they haven't been selling.. If Malaysia won't appreciate it's own special flower someone else might..hehehe