CT , I suggest u also celebrate in Venice after Paris. I found that cruising the Grand Canal a better experience than cruising the River Seine.....LOL

Something fishy here. Two days ago price jumped from 2.48 to 2.52 @ 4.50pm. Today price dropped from 2.56 to 2.52 also @4.50 pm. ????

Yes, WB is now higher than WA.....hehe. My call yesterday to sell all WA and buy WB is correct. WA premium is still higher compared to WB.

Hibiscus Petroleum Berhad revealed Wednesday that the VIC/P57 joint venture developing the West Seahorse (WSH) project in Australia's Gippsland Basin intends to award a contract for the sale of GSP Britannia in December, with the successful contractor expected to convert the jackup to a mobile offshore production unit (MOPU) and lease back the Britannia MOPU for the life of the WSH oil field. A small site team from Hibiscus Petroleum's wholly owned subsidiary Carnarvon Hibiscus Pty Ltd., as operator of the WSH project, has been set up in Tuzla, Turkey (where the jackup is now located) to define the scope of work needed to reactivate ABS class and enable long-term use of the jackup as a MOPU for the project. Meanwhile, the joint venture will award the operations and maintenance contract for the WSH project in December, while contracts for a floating storage and offloading vessel, an export system (including a submarine pipeline, CALM buoy and offloading hose) and drilling (comprising the supply and operation of a modular platform drilling rig) are scheduled to be awarded in January. Meanwhile, the operator has completed remapping of the WSH field based on reprocessed 3D seismic data and an independent assessment is currently being performed, with results due this month. "First volumes of commercial production from VIC/P57 is expected in early 2015 subject to a timely receipt of the relevant regulatory approvals,"

Almufathal, good job....those with patience will soon be rewarded. ....lol

dragonslayer, I am just presenting facts to our friends out there. WA 100 % premium and WB 38 % premium over mother share and its up to them which one they want to buy.

Just based on calculations. You can recheck whether its right or wrong. Therefore, sell all WA and buy WB.

Agreed with smartinv WA 0.21 + 0.32 = 0.53 & WB 0.185 + 0.175 = 0.36
WA overvalue by 0.17. Rightfully should be around 0.04 ( 0.21 - 0.17 )
You may want to give a few cents extra due to longer maturity period but definitely not 0,21..

If u buy OR @ 0.085, your cost price will be 0.205 ( 0.175 + 0.085 ) less free warrant ( 25% of 0.22 = 0.055 )

Australia 9.2 million barrels is only the 'tip of the iceberg'. Estimates in Oman if successful is about 160 million barrels value at rm3.3 billion?? Can't imagine how high the share price????

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1458217

Announcement by Rex upon the release of financial statement yesterday. The Group’s overall drilling and exploration activities remain on track
and expect to announce results of its first drilling in Oman in end December 2013/early January 2014.

Those medium or long term guys can wait for the QA or even longer just like Hibiscus. Those short term kaki better run now!!! Don't come back and keep running down on Sona.

SBM Offshore has agreed to the sale of the DSCV SBM Installer, a newbuild Diving Support and Construction Vessel (DSCV), to Daya Vessels Limited, a subsidiary of Daya Offshore Construction Sdn Bhd, for US$180 million in cash.
http://www.offshoreenergytoday.com/sbm-offshore-sells-sbm-installer-to-daya/

Agreed with Happy88. Rex Int will be added to MSCI Spore Small Cap Index wef from 26 Nov 2013.

Sona attacking previous high of 0.47. Sona-w previous high was 0.335 LOL

Good, drilling will be 50 days for 2 wells, thus 1st well should be completed by early next month ? LOL

Yes Tessa, sure must naik, hold on tight when it fly...lol

Additional 12 million shares listing tomorrow.
http://klse.i3investor.com/servlets/anpth/949107.jsp

Flashback - August 19, 2013.
Malaysia's Hibiscus Petroleum Berhad's jointly-owned entity Lime
Petroleum Plc, through its subsidiary Masirah Oil Limited, awarded a contract to Aban 7 Pte Ltd to undertake a drilling program in the Block 50 concession off Oman.

The contract, which has a duration for a minimum period of 50 working days, will commence between mid-October and mid-November this year. The jackup Aban VII (250' ILC) will be deployed for the contract and it will spud and drill a minimum of two exploration wells.

The Masirah North North #1 and Masirah North East #1 prospects, estimated to contain prospective resources of about 160 million barrels, have been selected for drilling using Rex Virtual Drilling technology and via conventional methodologies. If the wells yield successful discoveries, Hibsicus said production can potentially commence by the first half of 2014 through utilization of an early production system.

We should encourage all to post their facts or infos instead of restricting them. Hopefully the info will be able to help us with the first hand news for us to make our decisions whether to buy, sell, short or long term investors.
As for the GOA ship location, it states destination and ETA Dec 4, 2013. The Aban VII contract is between mid Oct and Mid Nov for 50 days (Not from Mid Oct to Mid Nov). If the drilling starts about mid Oct, it should complete by Dec 4, 2013. Thus the rig next destination is Goa, India ESTIMATED TIME OF ARRIVAL Dec 4, 2013.
This is my presentation, I may be wrong.

I belief that Aban VII drilling status in Oman for Lime petroleum is correct. The marine link states that the DESTINATION is Goa Shipyard and the ETA is December 4, 2013. Therefore, the drilling contract from Mid Oct to Mid Nov is going on now. After the drilling, the rig will be towed to next destination GOA Shipyard ETA (Estimated Time Of Arrival) Dec 4 2013.

http://www.theedgemalaysia.com/business-news/261439-maybank-and-other-local-listed-firms-in-us-for-roadshows.html

Excellent info BigRedFlower888. So the rig is still in Goa, India. It may take some time to sail across the Indian Ocean to Oman. Guess may not be in time to drill between mid-Oct to mid-nov as announced.

hi yinglonghua, it's Rex Intl Holdings Spore NOT Rex listed in our Bursa.

Flooded with additional 5m shares
http://klse.i3investor.com/servlets/anpth/947443.jsp

Yes like abang adik. Both are new and not making money yet thus can't call for right issue and bank will not lent to them.

Eddie, Rex n Hibiscus controlled 65 & 35 % of Lime Petroleum which holds many concessions including Oman where drilling will be anytime soon. Therefore, everyone is very eager to know the reasons why Rex was suspended.

Press Release - Rex International Holding To Hold Controlling Stake In Oil Production Technology Joint Venture And To Place Out Up To 70 Million New Shares
http://rex.listedcompany.com/newsroom/20131028_064717_5WH_470B2801FAD3493748257C0F002F19B1.1.pdf

Affendytay, its 2.5 warrant for 10 rights NOT 4 warrant for 10 rights.

Mother is now about 0.30. Sell sell sell n if u are sentimental on this stock then buy OR. Its cheaper n cost about 0.26 with free warrant.

Rights 4100 shares @ 0.175 + free 410 warrants for 1000 shares.
Cost if 1000 shares b4 ex RM490 + cost of rights RM717.50 = RM1207.50. Therefore, the cost price is only 1207.50 ÷ 5100 = 0.2367. If u buy OR now your cost price will be 0.275 [0.10 + 0.175]

http://klse.i3investor.com/blogs/bonescythe/39115.jsp

Newfield Malaysian assets sold to SapuraKencana.

Warrant can be convert to mother anytime. So dun worry even it mature next year. If warrant at a discount buy warrant and if warrant at a premium buy mother.

http://klse.i3investor.com/blogs/hleresearch/38891.jsp

Due to additional listing of 8.76m shares arising of conversion of CRPS to shares. About 6.06m shares convert at 1.65 and the balance convert at 1.85. So market need to absorb the selling.

Rex Int is a Swiss Co. Can it be one related to Rex ?

Attached comments by Cliq supporter.

Posted by yamatotrading > Oct 11, 2013 11:29 PM | Report Abuse

personally i feel, today CLIQ is just influenced by Hibiscus, hibiscus project can be so potential that the major shareholders might want to delist it. Not must free float already now.
if CLIQ got a good project, i bet major shareholder will buy up the shares at all cost.

Questions posted by some on the warrant. Just to clerify on the term n conditions of the warrant and procedures to exercise the warrant.

Key Terms: Warrants-A

•Exercise Price : ◦RM0.50 per Warrant-A.

•Exercise Rights : ◦Each Warrant-A shall entitle the holder to subscribe for 1 New Share at the Exercise Price at any time during the Exercise Period and shall be subject to adjustments in accordance with the provisions of the Warrants-A Deed Poll.

•Ranking : ◦The New Shares arising from the exercise of Warrants-A shall, upon allotment and issue, rank pari passu with the then existing Shares, save and except that they will not be entitled to any dividends, rights, allotments and/or other distributions, the entitlement date of which precedes the date of allotment of the new Shares.

•Exercise Period : ◦Anytime during the period commencing from and inclusive of the date of completion of the Qualifying Acquisition (as may be announced by the Company at the relevant time in accordance with the listing requirements) up to the close of business at 5p.m in Kuala Lumpur on the Expiry Date. Any Warrants-A not exercised during the Exercise Period will lapse and cease to be valid.

• Expiry Date : ◦3 years from Listing Date (25 July 2011), i.e. 24 July 2014.

•Process for Exercise of Warrants-A : ◦Warrant holders to complete the Form of Subscription of Warrants-A (Subscription Form).
◦Warrant holders to lodge the duly completed and signed Subscription Form with the Share Registrar (Tricor Investor Services Sdn Bhd), together with a remittance in Ringgit Malaysia by banker's draft or cashier's order drawn on a bank operating in Malaysia or a money order or postal order issued by a post office in Malaysia made out in favour of "HIBISCUS PETROLEUM BERHAD-WARRANTS-A EXERCISE ACCOUNT" (crossed A/C Payee only) for the full amount of the subscription money payable in respect of the Warrants-A exercise and endorsed on the reverse side with name, both old and new NRIC No. / Company No. / Passport No. / Armed Forces No. / Police Personnel No. and address of the warrant holder. Any such payment shall be made free of any foreign exchange commissions, remittance charges or other deductions.
◦Warrant holders are also required to pay RM10.00 administrative fee (per debit/credit transaction) to the Share Registrar.
◦The Company, via its appointed Share Registrar, will process the exercise of Warrants, allot New Shares and despatch the notice of allotment within 8 market days after receipt of this Subscription Form, together with the requisite payment (subject to the requirements of the relevant authorities).
◦Company Secretary (Tricor Corporate Services Sdn Bhd) will announce the listing and quotation of the New Shares via Bursa Link by 3pm one (1) market day prior to the listing date of the relevant New Shares.

Hibiscus proposed new Private Placement of 500m CRPS @ RM1. RM450m would be used for future synergistic acquisitions - The Star 12 Oct 2013. Acquisitions??? Hehehe

Agreed with Justrad79, Kutty123, Comet, ryei and potenza. Just dunno why Derrick has been insulting Sona everyday?????

you r right happy 88, the announcement mentioned 50 days between mid oct and mid nov......hehehe

It was announced when the contract was awarded. Drilling for 50 days from October 15, 2013.

Finding mud, it drop to 1.20 and finding oil it will jump to 5.20. - The Star Biz

Drilling commence Oct 15, 2013.....in 5 days time.....LOL

UOB KAY HIAN says...

REX INTERNATIONAL | BUY | TP: S$1.47

We initiate coverage with a BUY and target price of S$1.47 (based on expected monetary value of Rex's exploration assets using forecast from traditional geologist findings), representing a 58.1% upside
Rex's most valuable asset is its access to the proprietary Rex Technologies that may significantly improve the odds of successful oil exploration
With more than 80% accuracy in blind and live tests, Rex Technologies showed great promise and has helped Rex to secure strategic partnerships and concessions
Results from Rex's first few exploration wells will be critical and is a potential catalyst
A successful oil discovery may see a re-rating of the stock
Results of the first exploration well are expected to be known by 1Q14
Using proprietary satellite and seismic imaging technologies, management believes Rex Technologies can produce an exploration success rate in excess of 50%, compared with a global average of 10-15%
In addition, Rex Technologies also cuts the exploration process to 18-60 months from the 72-114 months required under conventional technologies
Rex has conducted blind tests for Hibiscus and Fram and has shown an impressive 100% accuracy
Over the past two years, Rex had analysed 59 prospects for North energy, accurately predicting 35 of the 41 wells that had been drilled (85% accuracy)
Rex successfully predicted 24 out of 25 dry wells and 11 out of 16 commercial oil wells
As Rex Technologies gains traction among market players, Rex has been able to secure concessions on better terms, such as eliminating common industry practices of paying entrance fees
With its leverage, Rex has successfully farmed into 15 concessions ASX-listed Bass Strait Oil Company (BAS) is Rex's newest strategic partner as it partners with REX to reassess specific exploration opportunities in Gippsland Basin of Australia
A potential multi-bagger with exploration target of 2,183mmbbl unrisked resources (EMV range: US$1.31-5.39/share)
Oman Block 50, Rak Offshore and Sharjah Central form almost 90% of our total risked NAV, and are estimated to have a risked value attributable to Rex of US$1,319m (US$1.31/share) based on conventional chances of success
To derive our target price of S$1.47, we applied a 20% discount to our risked NAV to account for the concentration risks from Oman Block 50, which forms almost two thirds
of our risked NAV estimate

EKSH328 why did you say that? Are u one of the Sona director or is US going to drop 300 points tomorrow? We as investors are eagerly waiting for your reasoning.

Hepitrade u need to either convert or sell the warrent b4 the maturity date as the warrent will not be tradeable after the maturity date.