PUMP PSI 23. Later over pressure release (dump) at 22PSi

xxxx, hehehehehehehhe yes

OIL JUMPS AFTER SURPRISE US SUPPLY DECREASE

http://www.marketwatch.com/story/oil-futures-slightly-higher-but-markets-remain-jittery-2014-12-03-61032919?link=MW_popular

Iran and the US are in talks now and if there is an agreement to remove the sanctions on Iran due to their Nuclear Programmed, Iran will further contribute 1.8million barrels of oil a day and this will add to the current glut and oil MIGHT further drop to USd50 per barrel. Keep an eye on this sanction.

Weakening ringgit should be good for foreign investors. 1USD=3.42 as compared to 1USD=3.30

Warrant-B, down 1.5sen.Mother might possibly follow!!!!!

69_69, highly not possible to drop to USD60, but to mitigate the risk can accumulate slowly.

0.225sen/0.23sen seems to be the bottom for Sumatec.

Short =Sell at a higher price and buy within the day at a lower price. Lower brokerage and for every 0.5sen can make RM2k for 500lots.

Tecnical Rebound is imminent. Market oversold. Punters using as an excuse to smash the price.

69_69, you are spot on about Captain. He has taken many to a "RIDE" whether he did knowingly or unknowingly only God knows.Too bad ya.

Ring, you are perfectly correct. When price of oil fell from its high of USD115 to current price what were all this stupid analyst doing. They did not predict then. Now when it has fallen to this level, they are all coming out with statements to outsmart each other. Never follow analyst, they are like Captain Looiks. he..he..

Societe Generale slashed its oil price forecast for Brent crude by $20 a barrel for 2015 and 2016, and expects the global benchmark to average $70 a barrel in the next two years. It also cut its Nymex WTI crude forecast by $17 in 2015 and $16 in 2016, to average $65 in both years.

“We estimate the costs for most U.S. shale oil at $65 WTI, if not lower. In recent days, after last week’s OPEC meeting, crude prices have already approached those levels, and we expect them to stay there for an extended period of two years,” Michael Wittner, head of oil research at Societe Generale, said.

What happen to our Captain Looiks. Still around or already on vacation.

Petronas says that their initial forecast was RM68billion to government next year in taxes, dividends & royalties, but now that is expected to drop to RM43b provided oil price is at USD75 per barrel. Savings from subsidies is expected to be RM18billion and therefore the government stand to lose in oil revenue from petronas next year.

Will 23 sen hold or will collapse. Looking at past patterns it might hit 22sen today

Tomorrow ex-dividend. Will the price be adjusted lower. Can anyone advice please,

Please do not assume the oil price will stabilise soon. Latest articles says that oil has yet to reach its bottom and is expected to hit USD60/barrel before Christmas.

Ring,let us just put suma in the freezer and relax.All the promoters who were so positive on Sumatec are no where to be found. Even if oil price is the factor, Suma should not be performing so badly. This is all due to the work of sharks

Captain Looiks, your posting below. "Someone wl issue something" he..he.

No sign of you today or I missed your comments


Stock: [SUMATEC]: SUMATEC RESOURCES BHD
Nov 28, 2014 10:08 AM | Report Abuse

Not to worry. Revenue up n profit up when oul price down shows a resilient on Suma operation....he...he....'Someone' wl issue something. Profit wl still in Suma coffer even oil drop to 60. Bottom line was cost per barrel.

lovemiracle, it is snowing so he will not be around he..he..

Mr he..he.. man nowhere to be found

Pure syndicate play.

Its a fight between 225sen and 23sen.

Where is the he..he.. man. Nothing to say for today ya!!!!!

Any further announcement today??????? Will wait and see

Thanks bangonluck

Is 255 the bottom?????????????????

Thay have started to show their dirty hands again by selling at 25 sen

STAY OUT!!!!!!!!

gohlai, be careful on Sapura Kencana as they have been excluded from Syariah List and I believe that is one of the reason for its share to fall

MY POSTING BELOW on 17 Nov 2014

Nov 17, 2014 11:33 AM | Report Abuse

Statement by CLD on 23 June 2014.

Estimated USD175m* in Net profit from sale of oil.

*USD175m is based on USD100 per barrel Brent Price of oil and USD35 per barrel net profit of which Sumatec is entitled to 50% (USD17.5 per barrel) after 2 million barrels of oil has been produced.

My opinion : With price of Brent now at about USD83 per barrel, net profit for Sumatec is expected to be reduced to USD18 per barrel and 50% of share after 2million barrels will drop to USD9 per barrel.

With the drop in oil price there will definitely be a squeeze in Sumatec's Net Profit.

Didn't they say during the last quarter that they might not meet the forecast profit for the year and is this the view they are maintaining. what more with the drop in price of oil. They are coining with the words to confuse all I believe.It is Sumatec's management who had made a statement that their forecast is based on oil price at USd100 per barrel where they expect to make USD30 for every barrel, as such the cost per barrel to produce should be USD70. With crude now at around USd72, can they meet their forecast whatmore profit.

I think Captain Looiks already knows what is going to happen to Sumatec so I believe he decided to stay away from this forum

Oil prices deteriorate rapidly ahead of OPEC decision; crude off $1.43 to $72.26

http://www.marketwatch.com/investing/future/CLF5

Ring do you think they want to discuss about the FGV issue at UMNO meetings. It will be the last thing they want to do.

See whay happens tomorrow before going in. If OPEC does not cut production, than I predict O&G counters will go South.Whether Suma makes profit or otherwise is immaterial as investment is always on forward earnings

Ring do you think they care about the poor. Settlers were promised that the share will shoot high after listing and today see what is its worth. Poor guys taken for a ride like how we were taken for train ride here he..he..he..

Bloomberg is reporting for year 3014 he..he..

Captain Looiks what happened. Overslept kut!!!!!

Oil price falls ahead of Opec meeting
http://www.bbc.com/news/business-30211564

The situation is very critical for oil & gas counters. If OPEC tonight fails to cut production, oil price is expected to nose dive to USd60 and do you think Sumatec can Survive as they had earlier reported their cost is USd70. Be cautious guys!!!!!!. Captain Looiks has gone missing as well.

Will wait at 20sen.

I just cannot imagine a counter helmed by a reputable figure can fall from its high of 62sen to 26sen. His reputation as reputable businessman is now down the drain and maybe he should now be called a REPUTABLE SHARK/MANIPULATOR.Talk so big in the various news. Going to do this and that, better go and sell Pisang Goreng

Nancy, as I said he will only be around when it rains or shine, but I believe it muct be snowing for him not to show his presence.

Looking at the many news flowing I think OPEC will not cut production and will allow supply & demand to determine the Crude Price. Both Saudi and Russia I believe are firm on this.So if we are stuck with Sumatec, just put inside a freezer and take out when the price of oil improves.

Captain will always be around even if it rains or shine. But I think it must be snowing and that is why no show from him since yesterday. he..he..

Captain Looiks missing in action!!!!!!!! They know the result so have started to sell down so as not to create a panic situation

What happen to CL? I mean Captain Looiks. Very quiet today.

This is not an AGM but BOD meeting. Are you guys sure that the Public will be allowed to attend.I don't think so. This is their internal meeting