Anything happening ? why it suddenly is active and climb 20 over sen .

Everything said by Calvin is nice to hear but many in this forum not so confident of integrity of present management and also whether they give two hoots to interest of shareholders. Any chance of change of management .

If they use liquid cash for value creation it's alright but presently the BOD is having poor utilization of cash, earning pittance interest hoarding it in bank, they have not acquire anything for sometime now.

Don't forget the structured warrants issued by Maybank investment bank maturing in Nov. 2014 has exercise conversion ratio of 15:1 and exercise price of MYR 7.65 estimating KSeng to be around RM 10. The bank must be that confident that KS would be worth that price or more.

Let us spread the good news to friends and relatives that they cannot go wrong investing in KSeng before it is no longer cheap to buy. BOD also need to do more in terms of dividends.

Yes let's wait. BOD cannot be aloof and insensitive to loyal shareholders. When company made money spread some goodies to investors, when time are bad we tanggung sama sama. That shld be the spirit .

Let's hope management is finally coming out with something to reward their loyal shareholders. No point talking about Iskandar play, 3rd bridge crossing, cheap plantation lands and plenty of liquid cash blah, blah blah.

Drink coffee and relax. That's the best approach and wait for news. After all in Oman they have found oil. Australia also to start production.

Old chinaman company. Only know how to keep money in banks with low interest.

Just sad that this forum has descended to the level of personal slanders etc rather than sharing of useful informations or development of the company so that others in the forum can evaluate and make their own investment decisions.

mcwong RM 25 = 0.025 as for every 1,000 shares you get 25 ringgit.

How can one be wrong investing in counters like KSeng - cpo price is up, land near EcoWorld has appreciated which great potential, thousand of hectares of land near Iskandar at book value iwhen first bought,cash and equity over 1billion, Maybank have evaluated share to be worth 9.90 with their call warrant, strong possibly of special dividend etc. True value is emerging.

Investors with patience would be amply rewarded. Cheers

Thanks Calvin for the info.

prudentinvestor Maybank has valued KSeng at around RM 10 with 15 call warrants at 15sen each plus exercise price of 7.65 maturing in November 2014. 15*15 = 2.25 + 7.65 = 9.90. It's coming have patient.

Thank you rolling stone for your info. I am learning about the oil business in the forum all the time. Not bad eh invest in hibiscus ...get to learn a lot of the oil business from people willing to share.

That is good news lah. Hibiscus canceling the CRPS at 1.85 . Thanks FP for sharing.

Yeah we are patiently waiting. Maybank has issuied structure warrant at 15sen. 15 warrant plus exercise price of 7.65 means those who buy warrant think the price is worth about RM 10. Maturity date for call warrant is November 2014. Come on KSeng time to wake up

According to UOBKayHian report, GA South has estimated recoverable of 31.5 million barrels and the total for Oman Block 50 around 5,000 million barrels. That's what I read from report.

I think for many in this forum, FP has been a great source of information and help in understanding an E&P company like Hibis. I bought in the shares in July 2011 and have been collecting along the way. No need to be nitpicking over and over again on the RM 4 Australian thingy, No need to challenge who is cleverer. Let the people in the forum be the final judge.
I do my own homework and also benefit from FP input and sharing in the blog.
Let's moved on and not harbour ill feelings here. To each his own style of investing. After all its your money and you evaluate your risk especially in a company like Hibis. I think so far the management has been doing a good job compare to Sona, Cliq etc. Good night

Bro sklyte - don't dwell and become obsessed with the Australia RM 4 thingy. I am sure you didn't buy becos of that hehe. Our flower will become RM 4 matter of time . I have put my money on that.

We find FP informative, philosophical, funny and at time rubbing in. Maybe it's the different type of coffee he is taking kut .... Giving the different mood swing. Good clean fun while waiting for episode 2 to unfold. I am also taking to drinking coffee like him while waiting. Cheers

Thanks. Block 50 concession is estimated to have 5276 mmbbl.

FP, you are the taiko in this blog for investor. Can I interrupt your coffee drinking for awhile to explain to a non petroluem engineer like me what does 31.5 mmbbl translate to - 31.5 million barrels or 315 million barrels ?. I am trying the understand Rex Int ( lime petroluem) general investment criteria that any offshore concession should have potential of 50 million barrels of oil before they are interested. Thanks

I look at the announcement in Rex Inter blog and there it is mention that GA south is the one where oil is found but the drilling announcement by Hibiscus is the MNE site. Can one anyone explain or is the rig there continuing to drill other potential sites in the Block 50 site ?

For the big ego and folly of one man, millions of citizen has to pay higher car price to subsidize a dying proton. Off course crony and relatives have benefited.

This company run by old man. Old man company must have patient one.

FP good to have you back and to have your views on the drilling. Not that we are worry on the daily fluctuations of price like the short term traders.

We are patient and can wait. Cheers

For those who believe in the company, now that the second drilling has been successful, this year of the galloping horse should be an eventful and rewarding year. FP has been giving good info and scenario for serious investors. The technology works and those who are patient wld be amply rewarded.

Why is everybody here crucifying FP ? He has mentioned for those playing contra and short term not to waste their time here. It's your own decision whether to be an investor in this company or to be a hit and run trader. An investor in this type of E&P company know the risk and rewards. There so many things that are still to come for this company. Read and understand the business and the people in charge of the company. If you have no confidence then go and pick some other companies.

E&P company high risk high gain but as FP says 2014 is exciting year for Hibiscus . More drilling in Middle East and Norway as well as production in Australia. For those like me who have bought into the company and are long term investors. We are confident of reaping the rewards. Happy CNY to all Chinese and may 2014 be a prosperous year of Hibiscus investors. Cheers

We all waiting patiently for Keck Seng to huat.

Thanks prudentinvestor for the clear explanation.

prudentinvestor I am on same page as you that the KS directors being business man are not that stupid to lose that kind of hard earned profit to IRB. There were many in these forum that were critizing the directors about this.

Anybody any idea whether the RM 300 over million sapu by IRB or still lock in KSeng account ?

Let's hope the BOD are considerate to the other 8,000 shareholders who are looking towards a happy CNY.

Thanks for the explanations. I will watch to confirm.

Don't forget Petronas money used to bail out his sons company during Asian crisis. So who sold be grateful ?

Thank you rikki for the warrant exercise form. Any idea how long required to submit for conversion, 1 month before expiry ?

Flower power - any idea why warrant premium over mother I am interested to know ? I am an investor and holder both mother and son. Thanks.

Be patient

The Act we are clear, there can always be appeal if there are valid reasons. I can still cannot believe that the BOD can be so silly as to forgo RM 330 M. The major shareholders owned 60 percent of that sum. No matter how rich you are it defies logic for them to just surrender it all to the Goverment. Anyway it's only 24 hours let us see what happen. Happy New Year to all. Cheers

You all very sure by tomorrow nite the IRB would sapu all the over 300m ? That special dividends must be paid by 31st or else is all gone ???

Don't think the major shareholders who are businessmen would be so silly to forgo over 300m to IRB. Have patient and see what is up their sleeve.

Susan- pls complain to bursa and let us know how we too can make our complain. Is there a special form ?

Long term investor who see value in the company no worries. Collect some more.

Calvin,
When I say individual house price as yardstick. What I meant was nowadays the trend is to buy house in a township with lot of facility and amenities. The same type of house in a township command much higher price than a house in a housing estate which lack amenities. Look at township develop by Gamuda, SP Setia, IOI, Paramount , the houses fetch a premium price.

Menara Hapseng carried in its book at 1996 valuation of RM 56 million. It's nearby to Pavilion. I am not a valuer. You estimate what's it worth today. Similarly Regency Tower in Jalan Ceylon acquired in 2006 .

The plantation lands near to Johore Baru has not been revalued for last 32 years. Pls don't compare individual house price as comparison. Surely the plantation lands is worth much more.

Read previous comments and older link under this forum. Have a good weekend.

Calvin,
You are biased . What about KSeng prime assets in KL - Menara Hapseng and property at Jalan Ceylon ? Aren't they prime first class properties?
Kseng has been producing consistently good results and it's reflected in its share price.
KKP counters suck because of integrity of its major shareholder. I used to be an investor in KKP counters and have no confident in KKP. He is only after self interest.