Posted by laxlav > 2012-03-22 08:00 | Report Abuse

thank you

Posted by novicemind > 2012-03-22 12:49 | Report Abuse

warrants are exercisable after completion of acquisition. ie approximately 20 days from shareholders approval garnered from agm yesterday. at the current level, warrants are at a discount as its exercisable at .50 per share. warrant is at 1.09 now, add .50 the cost per share after conversion is 1.59. shares are trading at 1.72 presently. meaning a .13 gain per warrant converted to shares. it would be a motivation to accumulate warrants at current levels. trust this clears, laxlav.

Posted by Eagle95 > 2012-03-22 13:31 | Report Abuse

Warrant now trading at about 10% discount prices if u now the value,I think this is will flying soon..

Posted by laxlav > 2012-03-22 14:43 | Report Abuse

lets all hope it will fly soon

Posted by yen boy > 2012-03-22 14:55 | Report Abuse

every day drop 3-4sen,10days lost 30-40sen

Posted by jameslim > 2012-03-22 15:07 | Report Abuse

I concur. The warrants are at a good dicount now and can be exercised in 20 days time. Right now, this counter is weeding out the weak holders, but the value has yet to be unlocked. The prudent thing is to hold.

Posted by Mohd Shuk > 2012-03-22 15:15 | Report Abuse

This one already over value. That why the price stop between 1.50-1.85

Posted by Eagle95 > 2012-03-22 22:43 | Report Abuse

This counter hv a very good future n great value not like the goreng counter,now is good time accumulate more..

Posted by tank1231 > 2012-03-23 15:32 | Report Abuse

anyone know how the convertion from WA to main? Call few time but no one answer. where to get the form?

Posted by Rosma mk > 2012-03-23 16:25 | Report Abuse

call yr broker (cds dept). Ask the Registrar for this com. Call and Get the form from the registrar of Hibiscus ( mind u not ROC)

Posted by novicemind > 2012-03-23 16:27 | Report Abuse

forms are also available on hibiscus website which contains all details including the registrar's contact that you require

Posted by Voon Yong Hui > 2012-03-25 15:52 | Report Abuse

Time to accumulate....

Posted by sengseng > 2012-04-03 23:56 | Report Abuse

time to fly

Posted by Eagle95 > 2012-04-04 17:39 | Report Abuse

Strong support at 1.02 level,will hit 1.13 soon..

Posted by tank1231 > 2012-04-06 08:56 | Report Abuse

anyone know how many days it take to convert from son to mom?

Posted by jameslim > 2012-04-06 09:41 | Report Abuse

Looks like more good news may be brewing. Indeed,hold or accumulate...

Star Biz
Friday April 6, 2012
Hibiscus Petroleum sets up Aussie unit

PETALING JAYA: Hibiscus Petroleum Bhd announced to Bursa Malaysia that its wholly-owned subsidiary Oceania Hibiscus Sdn Bhd has incorporated a wholly-owned subsidiary in Australia, Carnarvon Hibiscus Pty Ltd with an initial paid-up share capital of A$95 comprising 95 ordinary shares of A$1 each.

Posted by zemen > 2012-04-11 15:51 | Report Abuse

Bravo, more concessions by LIME; at NO Extra Costs to Hibiscus
Awesome, GOOD News!!!

http://biz.thestar.com.my/news/story.asp?file=/2012/4/11/business/11083889&sec=business

PETALING JAYA: Lime Petroleum Plc, in which Hibiscus Petroleum Bhd has a 35% stake, has signed a letter of intent (LOI) with Norway-based North Energy ASA and Rex Oil & Gas Ltd to give it interests in four additional oil and gas concessions in Norway.

The total acreage of the four Norwegian concessions is about 3,412 sq km, of which partial interest shall be assigned to Lime's wholly owned subsidiary, Lime Petroleum Norway ASA, a company incorporated in Norway. The Norwegian concessions are governed by production licence agreements.

“The potential volumes in the concessions have not been verified by an independent party. Obviously some internal estimates have been made which resulted in these concessions being selected but until we have done more work and properly verified our data, we would not like there to be speculation on the potential of these concessions,” said Hibiscus managing director, Dr Kenneth Pereira.

A technology services agreement between North Energy and Rex will be executed simultaneously under which, Rex will exclusively deliver certain technology services to North Energy with regards to production licences in which a share is assigned to Lime.

“The key services to be delivered will be the interpretation of seismic data held by North Energy. The Rex Technology Services Agreement will end on Dec 31, 2012 without any right of early cancellation of termination,” said Hibiscus in a press statement.

Lime has at least a three-year exclusive access to Rex Technologies in the Middle East while North Energy will have access to these technolgies in the Norwegian Concessions up to Dec 31, 2012 through the proposed acquisition of Norwegian interests by Lime.

“Rex had performed a number of tests on selected North Energy assets using Rex Technologies, and thus, Rex and Lime were subsequently offered the opportunity to participate in North Energy's production licences,” Hibiscus told Bursa Malaysia.

It said a framework sale and purchase agreement would be signed before April 30, 2012. There will also be a special sales and purchase agreement (SSPA) for each interest to be acquired.

“The SSPAs will include Dec 31, 2012 as a long-stop date, after which the obligations of the parties to complete the various agreements will cease for any of the assigned interests which has not been transferred prior to the long-stop date,” said Hibiscus.

Meanwhile, the assigned interests to Lime will be effective from Jan 1, 2012.

Norway is the world's third largest gas exporter and the world's sixth largest oil exporter. Globally, Norway was fourth in development investments in 2011. The average annual oil and gas discoveries in Norway which recorded a discovery hit rate of 51.1% in 2011

These Norwegian concessions are on top of the fourth concession in the Middle East which Lime was supposed to give Hibiscus as a condition to completing its acquisition of Lime.

Hibiscus is not required to pay anything more for these concessions, as under its earlier agreement with Lime Petroleum, any future acquisitions will only be paid by Lime.

Posted by kadok1691 > 2012-04-13 13:09 | Report Abuse

next target 1.50! buy now....

Posted by Eagle95 > 2012-04-13 15:02 | Report Abuse

very potential counter,flying today.next tp 1.41,since mother up 20% today，son should can reach 1.29 today..

Posted by Kim Yap Lau > 2012-04-13 15:12 | Report Abuse

Now cheap?

Posted by tank1231 > 2012-04-13 15:45 | Report Abuse

so happy...... continue up..

Posted by Eagle95 > 2012-04-13 15:48 | Report Abuse

Congratulation to all hibiscus fans..

Posted by kadok1691 > 2012-04-13 16:01 | Report Abuse

mother target 2.50!

Posted by lintze1983 > 2012-04-13 16:07 | Report Abuse

why son suddely press down?

Posted by kadok1691 > 2012-04-13 16:31 | Report Abuse

profit taking....no worry

Posted by Ooi Teik Bee > 2012-04-13 16:41 | Report Abuse

Exercise price is 0.50, conversion ratio is 1 : 1, hence the stock price for WA warrant is very cheap. We should buy warrant WA rather than the mother share.

Please take note.

Thank you.

Ooi

Posted by cheese > 2012-04-13 16:42 | Report Abuse

See this;
http://klse.i3investor.com/servlets/fdblog/211137.jsp

Posted by Rosma mk > 2012-04-13 16:49 | Report Abuse

it's good to drop a bit...this is a new base to go higher. if you can hold just hold until it meet yr tp.

Posted by Wendy Lim > 2012-04-13 22:58 | Report Abuse

We were told that we can convert WA to mother after 20 days fm Shareholdres approval on 21.3.12. Since WA is in the $$, we shd convert now. Can someone reconfirm?

Posted by Ooi Teik Bee > 2012-04-13 23:46 |

Post removed.Why?

Posted by sontoloyo > 2012-04-14 00:08 | Report Abuse

Mr Ooi, you were saying that the warrant will adjust its price to meet the mother share price ... Is there a possibility that the mother price will adjust herself (unfortunately downward) to meet the warrant? At the moment the price gap is quite a bit. It is either the warrant is underpriced by 40 sen OR the mother share is overpriced by 40 sen..... But like people said, the decision to buy or not is always our ownself .... Have a nice weekend.

Posted by tank1231 > 2012-04-16 10:36 | Report Abuse

20 days convertion is a risk taking. Anything can happen.

Posted by Eagle95 > 2012-04-16 17:32 | Report Abuse

Mother go down to meet the Son,haha..strong support at 1.93,just collected some..tp 2.20 this week..

Posted by meorwz > 2012-04-16 22:47 | Report Abuse

puzzling. their investment in Lime is solid, the new signed contracts are legitimate....yet the stock does not move.
I believe it is punters distracted with other newsbreaks or investors seeing too many opportunities, worried of spreading too thin or the SPAC is too foreign to comprehand. i would focus on the strength in fundamentals of the acquisitions and contracts.

Posted by yen boy > 2012-04-16 22:53 | Report Abuse

tank1231,20 days convertion,whatdo you mean,i dont understand?

Posted by tank1231 > 2012-04-17 15:15 | Report Abuse

yen boy, I mean you convert WA to Mon will take 20 days. During this period, anything could happen, let say both mon and son drop below your converted price.

Posted by chuanho > 2012-04-17 15:40 | Report Abuse

got to check with the company whether the wa can be exercised now. there has been no announcement from the company to date. there are conditions when the wa can be exercised.

Posted by novicemind > 2012-04-18 06:54 | Report Abuse

info from the HIBI website http://www.hibiscuspetroleum.com/ cleared most, if not all of my concerns raised from this forum. 'cheese', 'jameslim' and 'zemen' gave us all good updates.

from the website you can confirm that there is no 20 days conversion period. it only takes 8 processing days from completion of the acquisition which is underway now. everyone here can get all the info i got from the company website to make a firm investment decision.

Posted by novicemind > 2012-04-18 07:07 | Report Abuse

my investment decision was made on the view that the company has a robust business plan and acquisition strategy.

upon completion of their acquisition they will focus on the respective drilling programs of the various concessions they are involved in.

once they strike oil and commercial production is underway, the present entry cost/s of the warrants and main shares are negligible.

their website contains comprehensive information that is transparent to everyone, a plus point in the present malaysian corporate scenario.

am not here to make a buy call for everyone to ride on.

its your own decision and i made mine, only regret is that i did not take a position earlier due to all the doubts created in various forums.

Posted by Flowerpower > 2012-04-18 19:30 | Report Abuse

Announcement out already TODAY....tomorrow can CONVERT the warrant by paying 50 cents..

Posted by kadok1691 > 2012-04-20 15:43 | Report Abuse

next week 1.30

Posted by Flowerpower > 2012-04-21 16:29 | Report Abuse

I think next week will touch 1.50. It will break the 1.30 barrier early next week.

Posted by WWH33 > 2012-04-24 17:21 | Report Abuse

Any incoming news on this counter???

Posted by Flowerpower > 2012-04-24 21:05 | Report Abuse

Owners overseas since last week. Something solid brewing. Heavy collection going on for past 3 days at RM1.20

Posted by ckkiong86 > 2012-05-05 18:16 | Report Abuse

i have experience in convert the warrant to mother. it only take 8 trading day period after u have paid exercise price of 50sen. i earn around 6% after conversion recently.=)

Posted by lintze1983 > 2012-05-14 13:50 | Report Abuse

wah.. tody the son down so much

Posted by Mohd Shuk > 2012-05-14 14:03 | Report Abuse

Today son at 1.12, Mom 1.62... Fair Value!

Posted by lintze1983 > 2012-05-14 15:23 | Report Abuse

son still under discount right?

Posted by tank1231 > 2012-05-14 16:52 | Report Abuse

until now, son still under discount, 3 sen.

Posted by cheese > 2012-05-14 17:00 | Report Abuse

don't touch this warrant la. useless warrant