1} Norway Offshore - Funds already there. Hibiscus & Rex have both recently injected capital to Lime Petroleum. Bank loan has also been approved for their activities there. Norway gov will refund 78% of the production expenses. Further more Lime's share is about 5 to 25 % for each of the licence.
2} UAE Rak Offshore and Sharjah Onshore - Lime now working on the funding, most probably through farm-in of one or both the explorations. Hibiscus share in Lime is 35%.
3} Australia Sea Lion - Funds already there. Hibuscus have paid AUD27 million for 51% stake of licence Vic/P57 to 3D Oil and the funds are for farm-in exploration expenses.
Guess it's drilling all the way in 2014.

@PRC4 There will be 4 exploration drilling this year. 1) Norway Offshore 2) UAE RAK Offshore 3) UAE Sharjah Onshore 4) Australia Sea Lion.....lol

@Por, thank you for the link. It was announced that the RM23.287 million ExxonMobil contract are expected to contribute positively to SILK Group earnings and assets for the financial year ending 31 July 2014.

warming up for next week.....better get on board now.....:)

Silk breaking new high @ 0.67

The financial year result was as at Nov 2013. Therefore, it was not due to the Thailand effect. The result may get worst due to the political turmoil in Thailand starting from Dec 2013.

Stupid Kenanga analyst, bullish & OUTPERFORM 'Zhulian Corporation Berhad - The Shining Star, rating revised upwards to 5,40 on 2/12/2013' Today so fast rated down to 4.70!!!!!!!!

Next target RM0.80 ?
http://klse.i3investor.com/blogs/nexttrade/45284.jsp

Rex press release.
http://rex.listedcompany.com/newsroom/20140122_073721_5WH_BFCD10C65140825048257C6700368B2C.1.pdf

Forgotten gem, price at RM0.58. Profitable co with NTA of RM1,52 and yearly dividend? Maypak, a loss making company with similar business jump from 0.48 to 0.80 last week.

http://www.theedgemalaysia.com/business-news/271936-sources-silk-well-positioned-for-petronas-osv-contract.html

Just to recap an article posted earlier. Hibiscus is for long term investment.
http://www.thestar.com.my/Business/Business-News/2013/12/23/MALAYSIAS-HIBISCUS-PETROLEUM-COULD-STRIKE-IT-RICH.aspx/

This is only West Seahorse. There are many other prospect within the VIC/P57 namely Felix, Sea Lion, Golden Beach, Selsa and Scooter......lol
http://www.3doil.com.au/projects-vic-p57.php

http://klse.i3investor.com/blogs/rhb/44937.jsp

How about issuance of Reach Energy IPO shares to Daya shareholders???

Correct me if i am wrong. Hibiscus owns 51% of VIC/P57 and 3D Oil owns 49%. Hibiscus also indirectly owns another 6.37% of VIC/P57 through their 13% holding in 3D Oil.

New high, broken previous high of 0.47

http://www.thestar.com.my/Business/Business-News/2014/01/15/Norwegian-fund-buys-13-stake-in-Daya-Material/

@chin aik, which reseach house? hopefully it's CIMB rather than RHB. Btw, HLG will probably revised their TP of 1.02 upwards tomorrow due to the additional rm75m contract. Feel free to add another 20% if the RSC contract materialised...lol

@jyphin TP 0.56 by CIMB. Check the article posted here earlier.

http://www.thestar.com.my/Business/Business-News/2014/01/13/Scomi-Energy-wins-RM75mil-Indonesian-contract/

Next resistance 0.53 set 22 months ago ( march 9, 2012 )

Owns 21 ships, bigger than Perdana Petroleum and Icon, 2nd only to Alam. Compare the price with Perdana and Alam !!!!

Sorry no link, it's the weekly newspaper.

Just crossover the 'Golden Cross' and parabolic turning positive.

Poised to win PETRONAS OSV contract and 2nd largest offshore supply vessel - The Edge Weekly

Hehehe, so many refers to the old reports, some as far back to June. Even 'The Edge' analyst also biased towards Hibiscus and quoted the same June RHB report last week or so. So much has happened from June till now. Sigh....lazy to comment.

Something is cooking

http://ir.chartnexus.com/hibiscuspetroleum/download/pdf/financial-information/WA-exercise-form.pdf
Above is the warrant exercise form to mother share. Very simple, just buy a banker's, fill up the form and forward to the registry.
Or with warrant at a premium, sell warrant and buy mother. A difference of 0.02 cts will be sufficient for brokerage.

WA is now 0.02 cts premium. Therefore you will be able to sell WA and buy mother shares without any additional cost (only 0.50 conversion cost).

TP raised from 0.90 to 1.02 by HLIB
http://www.theedgemalaysia.com/business-news/270630-hong-leong-ib-research-maintains-buy-on-scomi-energy-ups-target-price-.html

@flowerpower, most of the Naysayers has now become strong believer because they are now on the same boat.

Posted by sklyte > Jan 6, 2014 09:22 PM | Report Abuse

Bro Eddie, you cant take all unrisked , if it is risked, then it is more accurate, so assume 20% of 31.5m barrels, that will give about profit of 31.5m xUSD25/boe x 20% = USD160m = RM500m , hibiscus' stake at 22% =RM110m profit, remember hibiscus said they are spending about RM18m for this field, the ROI = 110/18 = 600% (that is why E&P is high risk high return)

@flyingbunga Based on sklyte calculation 390 million barrels will give RM1.36 billion to Hibiscus!!!!

GA South - Unrisked Best Estimate Recoverable Prospective Resources 31.5 million barrels.

@limpek4896 TP 0.56 by CIMB, see my earlier posting on the research.

http://www.thestar.com.my/Business/Investing/2014/01/06/affin-maintains-trading-buy-on-benalec

The company is also involved in the bidding for the 3rd round of RSC. We gather from the management that the prospect looks promising. While we have not included the potential award in our forecasts, a potential marginal field win will conservatively raise our TP range to between RM1.02 and RM1.14 based on 0-50% debt to equity ratio funded (vs. norm of 70% debt to equity ratio) - HLG

http://klse.i3investor.com/blogs/sharethenews/44333.jsp

http://www.thestar.com.my/Business/Business-News/2014/01/03/Eyeing-Ophir-Job

Press release by Rex a few days ago - positive for Hibiscus.
"Rex International Holding has already validated Rex Virtual Drilling in our drilling campaign in the US and hopes to add to that with the start of its drilling campaign in Trinidad and Tobago in 1st Quarter
2014.
We are also very hopeful to be able to add new concessions to our portfolio in Norway, through the new Awards in Predefined Areas (APA) round that is expected to be announced around 21 January 2014. For 2014, in addition to the onshore drilling mentioned above, Rex International Holding plan to drill a number of wells in Norway, Europe, Middle East and South East Asia all of which have been identified using Rex Virtual Drilling.”

Look beyond Oman. Concessions in other Middle East countries, Norway, Australia and Asia Pacific/Oceania (through Hirex) and potential buying of producing assets. If oil is found in Oman, it's just an added bonus.

http://ir.chartnexus.com/s/p.php?c=49&f=3&t=/hibiscuspetroleum/readnews.php?id=41303
This approval governs the terms and conditions of issuing CRPS to non-residents whereas previous approval does not include non-residents.

Be risk aware not risk adverse.

What is Heavy Oil as reported by the Star?
Light Oil
Also known as "conventional oil," light oil has an API gravity of at least 22° and a viscosity less than 100 centipoise (cp).
Heavy Oil
Asphaltic, dense (low API gravity), and viscous oil that is chemically characterized by its content of asphaltenes (very large molecules incorporating most of the sulfur and perhaps 90% of the metals in the oil). Although variously defined, the upper limit for heavy oils has been set at 22°API gravity and a viscosity of less than 100 cP.
Extra Heavy Oil
The portion of heavy oil having an API gravity of less than 10°.
Extra-Heavy Oil Natural Bitumen
Also known as "oil sands," bitumen shares the attributes of heavy oil but is even more dense and viscous. Natural bitumen has a viscosity greater than 10,000 cP.

http://www.theedgemalaysia.com/business-news/268553-daya-expected-to-create-more-ripples.html

If the announcement is due to Oman, then Rex will also be suspended. Probably the announcement will be end of the day, thus Rex do not have to request for suspension. Hibiscus requested for suspension is to prevent wild speculation.

sb higher by 50 cts

I guess the insiders are the one selling and buying. Sell high and buy lower & lower. That's why the buying percentage was above 50% as per my posting earlier.
If oil is confirmed, then the opening price will be more than 50 cts and son will be limit up.

We are seeing more and more illogical posting in this thread without any supporting facts. One even mentioned that hibiscus do not know anything about the drilling in Oman. If you study hibiscus presentation materials, you should know that hibiscus is the project manager for all middle east exploration, definitely they are in control. Belief in yourself, see value in this company. Thus, let's be patience and wait for their announcement.
Merry Xmas and a happy new year to all.

If Oman no oil, who is buying the shares today? Everyone should be throwing but why the buying percentage is higher than the selling at 52% for mother and 53% for son respectively? ..... puzzling???