Post removed.Why?

Post removed.Why?

Huh?? Today also you monopolise more that 70% of the postings - so this is your very little postings? Ha ha ha

20 postings alone from you - wow!

"B4b4 Sorry guys, recently i deleted my postings because i write too much. Sorry about that. As for today and future, it will be very little postings. Anyway, oil price down but still able to maintain above USD 45. OPEC meeting will be tonight. Lets all pray and keep praying for divine help.
30/11/2016 08:49"

Ha! Ha!

POLO Resources is trading in Pence lah - this news also cannot get right - ):

http://www.hl.co.uk/shares/shares-search-results/p/polo-resources-ltd-ord-npv/share-charts

Stock: [HIBISCS]: HIBISCUS PETROLEUM BHD
Nov 30, 2016 10:18 PM | Report Abuse

B4B4: Polo Investments Limited is the second major shareholder in Hibiscus. This company is listed in London Stock Exchange. Now its share price is £ 8.00 a big jump from £ 6.30 last month .

B4B4 - back again after deleting all your old mails? Ha! Ha! Ha! I and making couples of your mail in case you again delete them...

Will post then after you delete for a good laugh.., ha ha ha

B4B4 - next time tell us lah when you deleting?

Now I take photo of all your posting to keep up and track all your very laughable postings - ha ha ha !!!

Very interesting - Why B4B4 delete all his recent postings? What are you hiding?

Ha! Ha! Ha! If you believe - this will be the Chepest production ever seen in this region and we wonder how Shell want to sell their prized assets...

Anyway - back to the truth

http://marketrealist.com/2016/01/crude-oils-total-cost-production-impacts-major-oil-producers/

Aiyoyo - cost of production in Sabah EOR is above USD55 - not RM Ler.

Where are all the Petroleum Engineers? Oh ya, they know the score and they would not touch this counter...

And what about the CAPEX they HAVE to spend in 2017 to keep Annasuria flowing? Believe it's about USD50 million? OIL just don't keep coming out, your need to invest more to bring out and sustain production.

That is the real reason Shell sold - they did not wish to invest anymore. And yet Shell got loads of money. So you ask yourself why. Answer is when your CAPEX investment become more than your returns - you abandon ship!

Really?? Wow?

Then how come they hide their other cost in administrative, finance etc and you are not capturing those? Last quarter LOSS of 4 million and if not for the 11 million raised in fund raising, 5£36 would have to report losses.

Oh ya - Annasuria - they still owe Shell USD15 million right? And they want to pay USD how many million for Sabah? Nothing is free..

Ha! Ha! Ha!

Apologies when listed was about 400 million shares only - now 1.4 billion shares.

Why not you go and see how many more shares were issued since June 2016 till now to raise funds for the "other income"? I bet you it is more this has all been used up!!!

Homework!! Homework and homework!! Pity those who still trap big time!!

Remember the word "WILL RESERVE IN LINE WITH DEPLETION ...."

My GOD!!! You guys really don't have a clue what is going on. That I feel very sorry. Simple maths will tell you they are juggling all the numbers. If they claim the OPEX is so low- why profits only RM7 million on the back of 50 million turnover.

The tax credit of RM72 million is not real money - this is very clever accounting - go and talk to a Chartered Accountant and he will explain the truth!

Also, look at the other expenses - finance, admin and others - this comes to be approximately RM34 million. Take this and the so call OPEX cost and you are actually losing money - RM4 million this quarter.

Then they cleverly put there RM 11 million for other incomes - this other income I can tell is the fund raising where they place cheap sale share s and raised money!!

Now that is how you show you have RM7 million profit on turnover of RM50 million - by right it should be a loss of RM 4 million.

I believe more fund raising coming out soon to ensure "other income" still there. No wonder thisi company share now over 1.4 billion. When listed 5 1/2 years ago it only had 499 million shares!!!

Read carefully their report and you will understand more. - here is the snapshot of the tax credit - VERY CLEVER ACCOUNTING!! You have met a master in the owner who know how to play this crooked game..

"Deferred tax liabilities recognised upon completion of a business combination are in relation to temporary differences in the tax base of intangible assets (i.e. rights and concession) acquired and their accounting base. This balance is non-cash and will reverse in line with the depletion of the said intangible assets"

Very interesting When Shell sold Annasuria and were losing money and now small company's with no real production background can say they making money. Ha! Ha! Ha!

Hibiscus had drill 3 dry holes so far, lost all of Lime investment of RM250 million and lost USD100 million in Australia last drill. I am astounded with the gurus here who think they have it figured out..ha! Ha!

And then they announce this great deal with HYDRA just to bump up the share price and told a very2 juicy story. 6 months later informed that the deal aborted.

For your bedtime reading - this is SHELL quarterly report and they are the most effecient and effective oil company - note the reporting of losses in oil production - so if Shell is losing money at current oil prices, you want to believe a company that bought the asset with other people money that they are better than Shell?

http://www.shell.com/investors/financial-reporting/quarterly-results/2016/q3-2016/_jcr_content/par/textimage_400875472.stream/1477999658497/459d46dffc9fc4fde6f81a4ea9062248f45fbaf4d3dd37931f8a2dbaef23a97a/q3-2016-results-media-webcast-presentation.pdf

From 2.70 to 0.28 it sure got lots of potential - ha! Ha! Ha!

When you are stuck - you lie to yourself - that is when you are your own worst enemy.

1. Those who stuck write too much justifying more than ever
2. Those who are smart, never get stuck and they are free as a bird
3. Not knowing is greed and when you have no clue of fundamentals and buy on greed with little knowledge, you are just plain gambling and you know luck in gambling runs out over time. Win 1 lose 4 - overall lose. But the talk of the town will be won 1.
4. If no local heavyweights like EPF or LTH or LTAT touch - the penny stock is worthless as these big boys pay big money to research houses to go for bargain counter. If they don't touch - why you itchy finger touch?

Ha! Ha! Ha!

Ha! Ha! Ha!

B4b4 - may I know how badly you stuck? Must be very-very bad as ONLY you and your other alias keep flooding this site.

True investors never write like this.

Only desperate gamblers who have bought on Greed and chase the price and now are stuck badly keep writing everyday and even on weekend. It shows very clearly.

Ha! Ha! Next time don't be so greedy - just stick to fundamental stocks and then go back concentrating on work. You are not doing both and this is the recipe to disaster.

Pity Dato Zainul Ezzet. His shares forcesold. He and Ken founded Hibiscus in 2011 and he was the Director of Hibiscus until recently. Now his other company Perisai is in trouble... One can only wonder what is going to happen to Hibiscus....

Both Zainul and Ken were together in Sapura Kencana and they started to venture into this. Time will tell but the signs are already there....

Fact remains they lost the court case and they now are not disputing this - next they will also not dispute the legal fees they have to pay REX . And don't forget their OWN legal fees.......

http://rex.listedcompany.com/newsroom/20160902_173445_5WH_WDKQ2FQW9SBS6R6L.1.pdf

Stay away from this counter - they are not just losing money in operations (and camouflage by clever accounting) - they are also losing all the court cases .....have to pay REX approximately 600,000 pounds in legal fee reimbursements....

Future is very bleak and potential more stress and I just read they again went for fund raising exercise - at low price - means reality is company still has no money (after 5 years lisitng and new 600 million shares issued ). They still depend on cash from the issuance of new shares. Won't be surprise next AGM, another request for shareholder to approve more share listing - -all signals for This counter seems to pointing south. Not sure how long before it comes to terms with reality....

When the big boys start going for another round of cash calls, it's time to worry big time.....

Guys - be very careful - heard there is a very strong possibility the major shareholders are "drowning" and will be force to sell under margin call.....

The pressure on the share has reached a breaking point...

Chances are most oil companies with no diversity will be under extreme pressure and will see new lows or tank even in the near future with the prolong suppress oil prices - there is no two ways about this as this has happened in USA and will happen everywhere...

Annmix - you got a point but only if the company has sustaining power to last 2 to 3 years....

Sadly most companies do not have the fundementals not the funds to sustain for such long period and will crumble under the pressure of sustain low oil prices......

You will see more and more companies going under... Look at Perisai recently... It is diving to all time low never seen before.. And the end is not in sight...

From the QR latest report, : http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=192551&name=EA_FR_ATTACHMENTS

You will have the profit losses - and someone here has wrote this correctly ...

I repeat whaf was written ....


Revenue RM50,583,00
Cost of sales ( RM18,449,000 )
Administrative expenses (RM48,494,000)
Other expenses (RM18,061,000)
Finance costs (RM6,663,000)


Total = LOSS of of over RM40 million


Don't get misled by the cost of sales as it only covers ONE part of the expense. The bigger part is the administrative cost which they pay Petrofac to manage the field and their own expenses in Malaysia. This are the big ones!!! Sadly the company is losing money every quarter ..............

Stleelee83 = upanddownup

Multiple IDs here would not change the facts - oil will not recover for next 2 years. Ask PETRONAS and you will get this answer ......

mushashi bro - good analysis - only thing remaining is how long can they sustain......


"mushashi Aiyoyoyoyoyoyo steelelee man!! You open new ID today why ah??? And suddenly flooding this forum - you the cindicat trying and really struggling to get out ka?

Ok I teach you cindicat how to read reports ah - next time get good accountant to check for you lah before you itchy finger go and buy and burn your hand and face!

See page 2 of the QR report below: http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=192551&name=EA_FR_ATTACHMENTS

IN SUMMARY:
Revenue RM50,583,00
Cost of sales ( RM18,449,000 )
Other expenses (RM18,061,000)
Finance costs (RM6,663,000)
Other administrative expenses (RM48,494,000)

Total = LOSS of RM40 million.

THIS ARE ALL REAL NUMBERS - cost and revenue - money earned and spent and you cannot hide these numbers. So - loss RM40 million this quarter.

And now if you go to page 33 of the report - it will show:

UNAUDITED AS AT 30.06.2016 total losses of (RM392,374,000) for 12 month (as their year end is June each year - June to June)

This includes the REAL monetary loss due to impairment in JV (invested RM250 million in 2011) - (RM229,002,000).

Moral of the story here - even without impairment - which is real loss because invested in Oman and Rex, the company has lost significant money this 6 months. Each quarter is losing more than RM40 million.

4 Quarter = loss RM160 million and add the real monetory loss due to OMAN and Lime investment that now they have lost to REX or RM 230 million.

++ WALA - You have your losses for the year of RM390 million as shown on Page 33 of the report.

Now you go and do your maths!
25/08/2016 23:24"

mushashi bro - you are spot on!!! They are losing money every year and that is a fact..............................just back from holidays and I can see you are having fun here........

More up and down cut and paste.

Today volume almost 4 million and the market up 10 points - yet this counter close unchanged. Who is selling heavily? Think before too late.

Well said Mr. Mushashi.

If you look at the pattern of the counter at the past few days - you will notice some big investor is getting out as a lot of volume is being done at 18 cents.

Sooner or later, the buyer will run out of bullets to keep buying as the seller keep coming out. After this, it will have no support as everyone will be rushing to sell at whatever price.

Buy using other people money, then got others to run it...ha! ha! ha! where got fundamentals?

All placements are now getting cheaper and cheaper. From RM1.80 to the lowest done the last time at 0.18 cents. Its sure going the right direction..down, down down ha! ha! ha!

When you don't know your business and simply buy using other people money, which is free for you, you have no clue what you are doing. Especially when you go and farm out the operations itself. What is your role, money collectors from gullible investors?

Those who took placements at Rm1.80 now bleeding, those who tool at 0.24 also bleeding.. this is greed and the greed of this counter has consumed so many

Spain down by 15% in index. This is due to they know there will be no more funds coming to help.

DAX is down 10% as expected. Routing to start. This is just the beginning of EU problems.

For this scam company without any fundamentals - this will nail the coffin.

Its down down and down. Have said it before and will said it again "THE END IS NEAR".

Buy and keep very LONG TERM - when the counter is delisted. You can keep FOREVER!

By the way - read first - this is UNaudited accounts.

When asset depreciate that is REAL, when you decommission, the cost is REAL. How can book in air profits for something that has not been realized yet? A joke for accounting books. Really desperate to show profits....we will see soon who is right again.

Ha! Ha! Ha! Only educated people know the answer.

1. 3,000 barrels per day x USD45 per barrel x 30 days x 3 months x RM4.1 = RM50 million

But reported revenue for 3 months only RM30 million - ha! ha! ha! Need maths class.

2. RM135 million added to profits from where? No real profits but from "air" profits. Ha! ha! ha!

We will see who is right AGAIN!!! and AGAIN!!

Good luck. Gambling never pays!

Get educated!

Repeat what I wrote yesterday...its going to go down again soon and below 18 cents after this artificial volume spike.


Hibiscus came out with their quarter report today. WHAT A JOKE!!!

BURSA AND SC should seriously INVESTIGATE all these con games they play in accounting.

Here are the facts.

1. Hibiscus showed revenue of RM31.7 million for 3 months. It means RM10.6 million per month.

2.Revenue per month is RM10.6 million (USD1 = RM4.1) = USD2.58 million. Divide by 30 and revenue per day it is USD85,900. (Please remember revenue is NOT profits)

3. Lets be generous and say Oil price was USD45 / barrel average for the past 3 months. So, Hibiscus was PRODUCING = 85,900 / 45 = 1,900 barrels per day

4. HOW MUCH is HIBISCUS claiming they are producing per day?????? Its a LIE!!! The above numbers wont lie.

5. OK now the big fat lie! Revenue RM30 million and Profits RM80 million - wow! Wow! what magician is this?

6. To cover losses, a cleverly disguised ""profits" are shown - negative goodwill of RM135 million to cover your losses? HELLO!!! You can only write ONE time on good will and Goodwill only works if you factor in all the scenarios and book it. Not deferring the negative element and report the positive. What about impairments, CAPEX to maintain any production flow as volumes decrease over time and the biggest factor DEPRECEATION of assets over time. WOW!!! This is purely very clever accounting to hoodwink the authorities - BURSA and SC should ask the right questions.

7. OK now the interesting part. When the revenue is RM30 million, they reported a GROSS profit of only RM6.4 million (huh??) - wow!! only RM6.4 million - that works out to be RM2.13 million per month and it is GROSS. Net would be 50% less. So we are looking at RM1 million? This wont even cover the office overheads and big fat salary of Dr. Ken. No wonder they always go for fund raising all the time and every announcement is regarding more fund raising.

8. OK - lets go with the GOOD WILL - they book in RM135 million and showed profits of RM80 million only (huh??) huh??? huh?? First you have RM6.4 million profit from the sale of oil and they you book in RM135 million "profits" from "air" goodwill. So that should give you RM141.4 million profits right? WRONG!!

9 Reality is like this- the company actually LOST money
= RM80 million - RM135 million - RM6.4 million (declared in the Quarterly report) = -RM61.4 million


10. Summary - company LOST total of RM61.4 million this quarter - clever accounting by slimy guy is still at work. BEWARE!!!!!!! This is a scam company. Any company who continues to go for fund raising after 5 years of listing is bad news!

This is HOW CLEVER accounting works

"The Group recognised negative goodwill of RM135.3 million upon completion of the acquisition of 50% interest in the Anasuria Cluster on 10 March 2016.

In addition, during the current quarter, the Anasuria Cluster contributed RM6.4 million to gross profit from the sale of oil and gas products.

These were however partially off-set by costs incurred in connection to the acquisition, namely (i) introducer fee – RM25.3 million; (ii) transition costs and professional fees – RM9.2 million; (iii) depreciation and amortization – RM2.4 million; and (iv) accretion of finance costs for deferred consideration and decommissioning costs – RM1.3 million."


Only REAL money made was RM6.4 million gross profit. The RM135 million is NOT real money. Tomorrow I will give my friend goodwill RM10 million too.

The rest are all real COST and losses.

Just take note and BEWARE of the darkness and baldness in this counter.

"The Company announced on 11 November 2015 that its wholly-owned subsidiary, CHPL advised that wireline evaluation and sampling of formation fluids over the 6 zones of interest identified on preliminary Sea Lion-1 data was complete and that no zones of commercial hydrocarbons were encountered in the Sea Lion-1 well subsequent to commencement of drilling operations on 26 October 2015. Following that, the Group performed an assessment of the carrying value of the VIC/P57 Exploration Permit and has during the current period recognised an impairment of RM81.7 million."

VIC/ P57 drilling which was a dry well - last year paid more that RM20 million, with this RM81 million total loss at VIC/P57 is over RM100 million.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5111849

15 PERFORMANCE REVIEW
15.1 Material factors affecting financial year-to-date results

On 10 March 2016, the Group completed the acquisition of 50% interest in the Anasuria Cluster. From the date of acquisition to 31 March 2016, the Anasuria Cluster has contributed RM30.2 million to revenue and RM6.4 million to gross profit from the sale of oil and gas products. In addition, the Group recognised negative goodwill of RM135.3 million upon completion of the acquisition.

The Group recorded a loss before taxation of RM79.6 million in the current nine-month period (“current period”) as compared to a loss before taxation of RM31.6 million in the corresponding nine-month period in the previous year (“corresponding period”).

Hibiscus came out with their quarter report today. WHAT A JOKE!!!

BURSA AND SC should seriously INVESTIGATE all these con games they play in accounting.

Here are the facts.

1. Hibiscus showed revenue of RM31.7 million for 3 months. It means RM10.6 million per month.

2.Revenue per month is RM10.6 million (USD1 = RM4.1) = USD2.58 million. Divide by 30 and revenue per day it is USD85,900. (Please remember revenue is NOT profits)

3. Lets be generous and say Oil price was USD45 / barrel average for the past 3 months. So, Hibiscus was PRODUCING = 85,900 / 45 = 1,900 barrels per day

4. HOW MUCH is HIBISCUS claiming they are producing per day?????? Its a LIE!!! The above numbers wont lie.

5. OK now the big fat lie! Revenue RM30 million and Profits RM80 million - wow! Wow! what magician is this?

6. To cover losses, a cleverly disguised ""profits" are shown - negative goodwill of RM135 million to cover your losses? HELLO!!! You can only write ONE time on good will and Goodwill only works if you factor in all the scenarios and book it. Not deferring the negative element and report the positive. What about impairments, CAPEX to maintain any production flow as volumes decrease over time and the biggest factor DEPRECEATION of assets over time. WOW!!! This is purely very clever accounting to hoodwink the authorities - BURSA and SC should ask the right questions.

7. OK now the interesting part. When the revenue is RM30 million, they reported a GROSS profit of only RM6.4 million (huh??) - wow!! only RM6.4 million - that works out to be RM2.13 million per month and it is GROSS. Net would be 50% less. So we are looking at RM1 million? This wont even cover the office overheads and big fat salary of Dr. Ken. No wonder they always go for fund raising all the time and every announcement is regarding more fund raising.

8. OK - lets go with the GOOD WILL - they book in RM135 million and showed profits of RM80 million only (huh??) huh??? huh?? First you have RM6.4 million profit from the sale of oil and they you book in RM135 million "profits" from you "air" goodwill. So that should give you RM141.4 million profits right? WRONG!!

9 Reality is like this- the company actually LOST money
= RM80 million - RM135 million - RM6.4 million (declared in the Quarterly report) = -RM61.4 million


10. Summary - company LOST total of RM61.4 million this quarter - clever accounting by slimy guy is still at work. BEWARE!!!!!!! This is a scam company. Any company who continues to go for fund raising after 5 years of listing is bad news!

The truth is out there!!! You know it!! You can see it, believe it!!!! before too late!!!

Ha! Ha! Ha! Biggest JOKE EVER!!!

Ok ok I BELIEVE YOU!

Say USD25 is cost (we all know cost in UK and NORTH SEA is USD52 per barrel). Now we do maths ok.

1. Say today price is USD35 per barrel
2. Say profit is USD10 per barrel,
3. Production 3,500 barrels per day
4. Profits per month = 3,500 x 30 x 10 = USD1,050,000

Now: What is their overheads in HIBISCUS?

Monthly expenses
1. Overheads in KL Office (including big fat cheque to MD Ken alone of RM195,000 per month) is a whooping USD2 million
2. Overseas expenses - USD2 million

So - negative USD3 million per month just on cashflow.

How to pay :

1. USD52 million for the purchase?


NOW the REALITY:

http://money.cnn.com/interactive/economy/the-cost-to-produce-a-barrel-of-oil/index.html?iid=EL

Cost of production in UK is; USD52 per barrel (go and check and ask any oil expert or go ask SHELL UK)
1. Losses per barrel = USD35 - USD 52 = USD17 per barrel
2,. Losses per day = -17 x3,500 barrel = - USD59,500
3. Losses per month = -USD59,500 x 30 = - USD1,785,000

Monthly expenses
1. Overheads in KL Office (including big fat cheque to MD Ken alone of RM195,000 per month) is a whooping USD2 million
2. Overseas expenses - USD2 million

TOTAL LOSSES = - USD5.8 million per month


NOW - HOW TO PAY FOR ANNASURIA USSD52 million alone. Forget about other Owings. This alone is going to doom the company.

Sambung lagi ya - we wait for 1 month and when the drama unfold we compare notes. ha! Ha! Ha!

Later - I will give you the REX story - wait for it. Ha! ha! ha! Two sides to coin. When you go legal - it's bad news.

Hibiscus invested in Rex And not Rex invested in Hibiscus. The small boy is just desperate now but it's too late. I am surprise people here don't know. It's already public knowledge especially in the Oil Industry.

Later - Hibiscus will face bankruptcy

Hibiscus’ jointly-controlled firm Lime Petroleum faces liquidation

Go and find out why....

And Hibiscus got lots of money meh? No wonder 18 cents and look at price of Shell. Wake up from dream before too late.

What happen to the original CFO - Joyce - who set up Hiniscus with Ken - rumours now he no longer working with Hibiscus and left almost 10 months ago. Truth is out there - go seek it!!!

Aiyoyoyoyoyo - very fowl mouth some people here. Whether people believe you or not, mind your language!!!!