Posted by TTRR > 2012-02-24 08:32 | Report Abuse

Hmmmm even posts in investla is positive about this oounter. Look at the latest sentiment. Everyone is happy that all is going as pplanned. All gearing for new concession announcement :-)

Posted by princeofthi3ves > 2012-02-24 09:08 | Report Abuse

if they strike oil...this counter going to be 'jackpot'. Worth to hold.

Posted by zemen > 2012-02-24 10:32 | Report Abuse

Ya, absolutely agree to hold and hug tight tight, as exploration and production is a medium to long term play. Lime will be working on seismic program which will improve asset value. Drilling program to start later this year = > potential of high escalation of value in event of oil discovery, like Prince just said.... "Jackpot: !!!!

Posted by princeofthi3ves > 2012-02-24 10:58 | Report Abuse

things to shared. Most mainstreams O&G companies market value are in RM billions.HIB just RM600++ millions. Still plenty rooms to grow.

Posted by kumalya > 2012-02-24 11:14 | Report Abuse

Agree. Their jv with Lime was a pretty good move. There will be three catalysts coming for the stock:
1) the upcoming acquisition of another significant oilfield
2) the listing of Lime on London exchange, which in effect allows buyers of Hibiscus to be in the position of pre-IPO investors at a good price, likely to be done sometime this year
3) striking oil, highly likely given Lime advance drilling technology and method(the Lime group had their pick of whichever oil fields they wanted based on their reputation and technology expertise in the past)

Posted by zemen > 2012-02-24 11:26 | Report Abuse

Crude Oil hit USD108 on 23Feb, should Lime strikes oilfield soon & Iran issue is unresolved, crude oil may go USD130-140 again, by that time, those who hold Hib shares will be like orang Cina Hokkien cakap "Ciak-Bei-Liao" ... = Eat Cannot Finish

Posted by princeofthi3ves > 2012-02-24 11:31 | Report Abuse

wakakakakaka....

Posted by WWH33 > 2012-02-24 15:15 | Report Abuse

Steady!!!!!!!!!!!!!!!!!

Posted by WWH33 > 2012-02-24 15:46 | Report Abuse

Any idea why the son's gap with its mother share is so huge??? the exercise price is different by 50 cents rite??? Please advice... Thank you...

Posted by zemen > 2012-02-24 16:56 | Report Abuse

The warrant can only be exercised upon EGM's approval of acquisition.
Investors' may fear if EGM not gone thru, then HIB may drop significantly; as the guaranteed amount is only RM0.675. (before another proposal to submit to SC for apporval)
EGM will sure bulldoze thru the shareholders' approval with either by vote or polling, as the business model is synergistic & the potential is great.
Once approved on 21March, the discount will narrow, meaning the surge in value in warrant will be substantial, as compared to HIB.
I added position in its warrant this morning !!!
Hold & Hug tight tight......

Posted by WWH33 > 2012-02-24 18:29 | Report Abuse

Go n buy a thick metal chain now and chain it up tight tight!!!!!! Than lock it up in the steel cage!!!!!! Than when I retired only take it out!!!!! Wakakakakaka!!!!!!

Posted by cheese > 2012-02-24 18:32 | Report Abuse

then you will be loser because it will expire. hahaha.
some more, nothing is possible and impossible. Do not love your stock. Market always there. These are what i always heard

Posted by WWH33 > 2012-02-24 18:37 | Report Abuse

Oh ya hoh... Got expire date hoh... Than what your advice bro cheese???

Posted by cheese > 2012-02-24 19:05 | Report Abuse

2 options: sell off or convert.

Posted by WWH33 > 2012-02-24 19:06 | Report Abuse

Thank you bro cheese... Appreciate it alot...

Posted by Voon Yong Hui > 2012-02-24 23:29 | Report Abuse

Hold it until March EGM...Son might reach RM1.50 - RM 2

Posted by princeofthi3ves > 2012-02-25 20:51 | Report Abuse

Cheese: cant convert now, if sell now afraid that the price would shot up when conversion allowed later. So what do think? hold first?

Posted by kumalya > 2012-02-26 22:29 | Report Abuse

Agree with voon. Mother has stabilize and potential for upside. Hold or buy more. Which means the only way for son to move is up up and away
H will soar again

Posted by zemen > 2012-02-27 12:49 | Report Abuse

This morning BFM interviewed Benny Lee of Nextview and he commented that Hib rebounded strongly and with the crued oil hitting high, he is bullish on Hibiscus and Petronas Dagangan.....

Posted by jameslim > 2012-02-28 14:47 | Report Abuse

Yes,the smart investors are bullish about the long term potentital of this counter.

To princeofthie3ves :

From Hibiscus website on the conversion of son:

Key Terms: Warrants-A

1 free detachable Warrant-A for every share held. Exercise Price RM0.50 per Warrant-A.

Listing Warrants-A is listed and tradable. Expiry Date 3 years from listing date (25 July 2011)

Exercise Period Anytime during the period commencing from and inclusive of the date of completion of the Qualifying Acquisition up to and including the Expiry Date.

Any Warrants-A not exercised during the Exercise Period will lapse and cease to be valid (up to and including 24 July 2014).

By March 21 - TP for mother is RM2.50 and son to follow at RM2.00 (minimum).Son has catching up to do as AFTER the EGM, anyone holding the son can CONVERT to the mother by paying extra 50 cents. Now the son is very undervalued as many people afraid if the EGM fail and cannot get approval from shareholders but this is not going to happen. Most shareholders will vote yes.

Posted by WWH33 > 2012-03-02 16:19 | Report Abuse

Latest news......... http://www.theedgemalaysia.com/business-news/209778-hibiscus-petroleum-sees-6m-shares-crossed.html

Posted by jameslim > 2012-03-03 15:10 | Report Abuse

From the Star Biz today. Something is brewing...

Saturday March 3, 2012
Tycoon Arumugam raises stake in Hibiscus Petroleum
By TEE LIN SAY
linsay@thestar.com.my

PETALING JAYA: Reclusive tycoon Tan Sri A.P. Arumugam has increased his shareholding in Hibiscus Petroleum Bhd from 6.4% to 8.8% via an off-market deal, said sources.

On Wednesday, four million shares were transacted at an average price of RM1.78, while yesterday, another 6 million shares were crossed at the same price. The stock closed on Friday at RM1.80 on volume of 2.69 mil shares.

Arumugam first emerged in the company last July when his son Roushan Arumugam was announced to have bought 23 million shares or a 5.5% stake in the company.

Back then, he made the indirect purchase via Littleton Holdings Pte Ltd, of which he owns 90%. While no price was disclosed, it was believed that Littleton took up part of the placement of Hibiscus' initial public offering shares at 75 sen.

Roushan, is a director of Hibiscus and a corporate representative of Littleton and investment holding company, Sri Inderajaya Holdings Sdn Bhd.

Arumugam is the chairman and founder of Sri Inderajaya, which has significant investments in six major industries globally and consisting of agriculture technologies, consumer products, education, industrial technologies, property, telecommunications and travel and tourism.

Meanwhile, Hibiscus got the green light from the Securities Commission on Feb 16 to proceed with the acquisition of the 35% equity stake in Lime Petroleum plc for US$55mil (RM168.3mil) cash.

Hibiscus will be holding its EGM on March 21 to obtain approval from its shareholders for this qualifying acquisition.

Lime has three oil and gas concessions in the Middle East Ras Al Khaimah, Sharjah both in the United Arab Emirates (UAE), and the largest one in Oman, with the fourth potential concession in Fujeirah, also in the UAE. Each concession is for 20 years.

Hibiscus, which is Malaysia's first special purpose acquisition company has a protection clause for its shareholders.

Under the protection clause, shareholders voting against the qualifying acquisition at the EGM will be able to receive about 90% of the initial public offering price of 75 sen, or 67.5 sen per share plus interest and less distribution costs.

However, as the company's last traded share price of RM1.80 is 165% higher than the refund amount, such protection clause is a redundant option for shareholders.

Posted by jameslim > 2012-03-03 16:39 | Report Abuse

From Bursa site :

Submitting Merchant Bank : HONG LEONG INVESTMENT BANK BERHAD
Company Name : HIBISCUS PETROLEUM BERHAD
Stock Name : HIBISCS-WA
Date Announced : 29/07/2011

Instrument Type : Warrants
Description : Three (3)-year 2011/2014 Warrants

Listing Date : 25/07/2011
Issue Date : 21/07/2011
Issue/ Ask Price :
Issue Size Indicator : Unit
Issue Size in Unit : 334,436,522
Maturity Date : 24/07/2014
Revised Maturity Date :
Exercise/ Conversion Period : 3.00 Year(s)

Revised Exercise/ Conversion Period :
Exercise/Strike/Conversion Price : MYR 0.5000
Revised Exercise/Strike/Conversion Price :
Exercise/ Conversion Ratio : 1:1
Revised Exercise/ Conversion Ratio :
Mode of satisfaction of Exercise/ Conversion price : Cash
Settlement Type/ Convertible into : Physical (Shares)

Remarks :
Each Warrant shall entitle the holder to subscribe for 1 new ordinary share of RM0.01 each in Hibiscus at the exercise price of RM0.50 per Warrant at any time during the period commencing from and inclusive of the date of completion of the qualifying acquisition up to 3 years from the date of listing.



2012, Bursa Malaysia Berhad. All Rights Reserved.

Qualifying Acquisition is scheduled to be voted on during EGM on the 21st of March. Once approved, thereafter, warrants can be exercised at price of RM0.50. Currently it is undervalued and has a premium of 36 sen. A pretty good discounted buy by any measure.

Posted by zemen > 2012-03-05 15:05 | Report Abuse

Buy its warrant, hold & hug tight tight.
Cheers

Posted by kadok1691 > 2012-03-05 16:15 | Report Abuse

aiyo byk rugi, sold 100 lots warrant last mth @ 93cents

Posted by TTRR > 2012-03-06 09:36 | Report Abuse

Wah, told everyone to hold on oredi what.... Sure thing more good news will come

Posted by vipkoh > 2012-03-07 12:08 | Report Abuse

can buy now?

Posted by benmore > 2012-03-07 13:03 | Report Abuse

Off course can buy, still discount 30 cents from the mother. Sure move up!! Technically should be RM1.30

Posted by benmore > 2012-03-07 13:12 | Report Abuse

If mother move up higher, this counter should move more as after March 21, anyone can convert the son to mother anytime. Already 30 cents profit today.

Posted by tank1231 > 2012-03-07 17:51 | Report Abuse

how to convert son to mother? must be after 21 march? Can convert now?

Posted by benmore > 2012-03-07 20:36 | Report Abuse

No cannot convert now. Must be AFTER 21 March. See Hibiscus Website for further information

Posted by benmore > 2012-03-07 22:27 | Report Abuse

Am told that target price for mother is RM2.50. IF yes, then warrant should be RM2

Posted by Voon Yong Hui > 2012-03-08 12:50 | Report Abuse

Who told you the target price? Insider people? :)

Posted by tank1231 > 2012-03-08 14:09 | Report Abuse

I buy on 51 sen, hold until now....

Posted by boonchow720 > 2012-03-08 17:48 | Report Abuse

Hi friend...still can buy for this stock? seem like shoot up 6 cent....thnx

Posted by benmore > 2012-03-08 21:55 | Report Abuse

Still can buy, minimum target is RM1.50 up to RM 2.00 before March 21, 2012. See today, major collection at RM1.06. Mother easily will reach RM2 very soon

Posted by benmore > 2012-03-09 12:56 | Report Abuse

Another NEW high for the warrant at 12.30 pm today. Now 1.09...1.30 easily reachable. I believe RM1.50 next week.

Posted by Voon Yong Hui > 2012-03-09 14:12 | Report Abuse

I also hope it can reach RM1.50 by next week, but the fact is, if the Mother remain at RM1.80 then the son can only reach RM1.30 max based on 50 sen exercise price........

Posted by benmore > 2012-03-09 18:25 | Report Abuse

Mother is moving............target 2 to 2.50 before March 21

Posted by Voon Yong Hui > 2012-03-11 22:01 | Report Abuse

That be superb...

Posted by tank1231 > 2012-03-13 14:10 | Report Abuse

no big movement so far... count down 8 days

Posted by WWH33 > 2012-03-13 18:34 | Report Abuse

Hib-Wa last min gap up back to rm1.090. Good sign???

Posted by benmore > 2012-03-14 00:11 | Report Abuse

Still discounted to the mother.......

Posted by tank1231 > 2012-03-14 08:18 | Report Abuse

looks like mother come down to meet the son...

Posted by Voon Yong Hui > 2012-03-14 08:43 | Report Abuse

Dow Jone flied yesterday...let see HIBI can do the same or not..

Posted by chailoy > 2012-03-14 12:47 | Report Abuse

After lunch maybe got chance.

Posted by tank1231 > 2012-03-19 16:49 | Report Abuse

2 more days to go... waiting

Posted by novicemind > 2012-03-21 21:28 | Report Abuse

99.64% of the shareholders voted in favor of the acquisition!

Posted by laxlav > 2012-03-21 23:41 | Report Abuse

can someone please let me know whats impact of the approval on the warrants thank u

Posted by Eagle95 > 2012-03-22 00:45 | Report Abuse

Very positives after AGM,tmr sure fly..