Posted by nice1 > 2015-11-02 13:36 | Report Abuse

Vendor Santos need cash, this deal will go through

Posted by nice1 > 2015-11-02 13:37 | Report Abuse

those reverse takeover by those European and JoLow by issuing shares will not worked

What seller wants is hard cash cash

Cash is King

Posted by ktsk88 > 2015-11-02 13:43 | Report Abuse

So all shareholders please push Bursa for speedy approval.

Posted by kensen > 2015-11-02 14:21 | Report Abuse

Hope limit up :P

Posted by nice1 > 2015-11-02 14:24 | Report Abuse

sharky, lets goring limit up up

Posted by nice1 > 2015-11-02 14:27 | Report Abuse

licence is given to goring goring crispy

due to the announcement, NO UMA

Posted by ktsk88 > 2015-11-02 14:35 | Report Abuse

UMA pun tak takutlah. Got announcement

Posted by cadmus_C > 2015-11-02 14:37 | Report Abuse

share not moving much. WA is active though. Conversion 0.35+warrant=Mother share

Posted by callme777 > 2015-11-02 14:39 | Report Abuse

This is a very good deal for Sona. Buying at oil bottom rather than salamander deal at usd80-85

Posted by nice1 > 2015-11-02 14:39 | Report Abuse

slow and steady, no hurry
cant expect rocket men chart

Posted by sheep > 2015-11-02 14:40 | Report Abuse

let tired sellers go first?

Posted by easymoney > 2015-11-02 14:40 | Report Abuse

:)

Posted by sheep > 2015-11-02 14:41 | Report Abuse

warrants -salt fish turn alive..wakakaka

Posted by IVAN2222 > 2015-11-02 14:43 | Report Abuse

sona anytime goes up to 0.5...in this week..strong buyer

Posted by nice1 > 2015-11-02 14:44 | Report Abuse

luckily is a good QA
if is a screwed up QA, then really confirmed salted fish

Posted by ab55 > 2015-11-02 14:46 | Report Abuse

Habislah, ini kali lah

Posted by alibabacoming > 2015-11-02 14:47 | Report Abuse

no show

Posted by ktsk88 > 2015-11-02 14:49 | Report Abuse

Good deal at last, what important is the company can starts producing oil and income is definite immediately unlike Cliq or Hibiscus which still in talks and exploration.

Posted by ruslimz > 2015-11-02 14:54 | Report Abuse

sona history.....always peaking on the announcement dates.......after that consolidate until next announcement coming......

Posted by sheep > 2015-11-02 15:04 | Report Abuse

sharks collecting

Posted by yamatotrading > 2015-11-02 15:14 | Report Abuse

that's all ?.... the show is no show ... damn it.. Go EGM vote against it, get back 0.4600

Posted by officejanitor > 2015-11-02 15:14 | Report Abuse

Hooray !! Excitement in the penny stocks again. But wait….

How do we value sona from this announcement? Let’s do the maths.

Based on Santos latest report, annual production probably around 1200k bbl. After deduction on production cost, depreciation & depletion, and admin of around USD32 bbl, we have a gross of USD18 bbl if oil stays at USD50 bbl.

On pre-tax basis, 1200k x 18 x 4 ( USD/MYR ) =RM86.4m per year. At a PE of 12 = RM1036m or 73 sen/share, excluding cash reserves IF the deal goes through.

And if, the proposed infill drilling is successful, there will have additional upside.

Therefore, we have a base case of 1P of 70sen/share to a 2P $1.20/share and 3P $1.80/share? But bear in mind the following ..

Posted by LaoLiu > 2015-11-02 16:12 | Report Abuse

Patience needed, uptrend on the move..slow and steady.

Posted by prc4wifefe > 2015-11-02 16:20 | Report Abuse

1200 bbl only...betulkah janitor boy!!!???

Posted by IBInsider > 2015-11-02 16:48 | Report Abuse

its 4,400-4,600 bpd, stated in announcement

Posted by ab55 > 2015-11-02 18:40 | Report Abuse

Listing requirement of SPAC - AT LEAST 80% of the amount in trust account to be used for QA. 1st QA only ~40%, get ready for the 2nd QA news soon...

Posted by powerwk > 2015-11-02 19:07 | Report Abuse

Cool. Look like a good news and investor should excited about it if it will start generate regular and consistent income. Exciting to see what going to happen in next few weeks.

Posted by callme777 > 2015-11-02 19:42 | Report Abuse

Sona management is better than cliq! This is a bloody good QA

Posted by jacklintan > 2015-11-02 20:34 | Report Abuse

officejanitor:u so pandai kira ya...lol. Let's see what price it breaks tomorrow.

Posted by trader66 > 2015-11-02 20:38 | Report Abuse

Hi Officejanitor, based on your calculation, its target price of RM1.80. That means it has more room for uptrend. Just wait and see whether your prediction will come true.

Posted by LaoLiu > 2015-11-02 20:41 | Report Abuse

SONA PETROLEUM BERHAD ("SONA PETROLEUM" OR "COMPANY")

PROPOSED ACQUISITION OF 100% INTEREST IN THE STAG OILFIELD FOR A TOTAL CASH CONSIDERATION OF US$50.0 MILLION ("PROPOSED ACQUISITION")

We refer to the announcement dated 2 November 2015 in relation to the Proposed Acquisition.

On behalf of Sona Petroleum, CIMB Investment Bank Berhad wishes to announce that the Company has today submitted an application to the Australian Foreign Investment Review Board (“FIRB”) in relation to the Proposed Acquisition.

As set out in the announcement earlier today, certain investments into Australia by foreign investors (including Australian entities with direct or indirect foreign ownership) require prior notification to FIRB and a statement of no objection to the investment from the Australian Treasurer. Completion of the Proposed Acquisition is conditional on, amongst others, receipt of a notice of no objection from FIRB.

Posted by kensen > 2015-11-02 21:07 | Report Abuse

Callme 777 - U are back. Good

Posted by mh87 > 2015-11-02 22:33 | Report Abuse

there is a high possibility that tomorrow will be a panic buying day for sona..

Posted by LaoLiu > 2015-11-03 00:10 | Report Abuse

Good, I like the panic buy you said. Hopefully another trend up occur.

Posted by nice1 > 2015-11-03 08:08 | Report Abuse

another KOS?
give me 80cts, I am satisfied dy




officejanitor Hooray !! Excitement in the penny stocks again. But wait….

How do we value sona from this announcement? Let’s do the maths.

Based on Santos latest report, annual production probably around 1200k bbl. After deduction on production cost, depreciation & depletion, and admin of around USD32 bbl, we have a gross of USD18 bbl if oil stays at USD50 bbl.

On pre-tax basis, 1200k x 18 x 4 ( USD/MYR ) =RM86.4m per year. At a PE of 12 = RM1036m or 73 sen/share, excluding cash reserves IF the deal goes through.

And if, the proposed infill drilling is successful, there will have additional upside.

Therefore, we have a base case of 1P of 70sen/share to a 2P $1.20/share and 3P $1.80/share? But bear in mind the following ..

02/11/2015 15:14

Posted by alibabacoming > 2015-11-03 08:40 | Report Abuse

Buy and keep better than fd?

Posted by nice1 > 2015-11-03 09:06 | Report Abuse

if the stock can go up on average 0.05 to 1 ct per week, I am satisfy dy

Posted by nice1 > 2015-11-03 09:07 | Report Abuse

can expect more local and foreign funds to buy



Posted by LaoLiu > Nov 3, 2015 12:10 AM | Report Abuse

Good, I like the panic buy you said. Hopefully another trend up occur.

Posted by nice1 > 2015-11-03 09:27 | Report Abuse

anyone know whether the son is convertible by 7/2016 or 7/2018.
if no QA, mati kon kiau in 7/2016
got QA, CONVERTABLE BY 7/2018?

BETUL MY INTERPRETATION?????

Posted by nice1 > 2015-11-03 09:52 | Report Abuse

Thanks Mun Hong

Posted by menly > 2015-11-03 10:07 | Report Abuse

gurus here pls confirm why reuters report santos stake in stag only $13mil?
so quadrant stake $10mil? total value should be $23mil right?
then why sona to pay $50mil?

http://uk.reuters.com/article/2015/11/02/idUKL3N12X17K20151102

Nov 2 Malaysia's Sona Petroleum Bhd has agreed to buy the Stag oil field off northwestern Australia from Santos Ltd and private firm Quadrant Energy for $50 million, Santos said on Monday.

Santos, scrambling to pay down A$8.8 billion ($6.3 billion)in net debt, had been looking to sell its two-thirds stake in the ageing field before it effectively put all its assets up for sale in August.

"Stag had delivered a strong production performance over the life of the field but it was now mature and no longer core to the company's strategy," said Joe Ariyaratnman, Santos' general manager for Western Australia and Northern Territory.

Wood Mackenzie had valued Santos' stake at $13 million.

Sona has agreed to take over environmental liabilities which kick in at the end of the field's life. ($1 = 1.4021 Australian dollars) (Reporting by Sonali Paul; Editing by Ed Davies)

Posted by matilda > 2015-11-03 10:30 | Report Abuse

Assuming l have purchased sona warrants at 0.30 sen and the exercise price is 0.35 sen, what will be the amount l have to pay to convert? Could someone help.

Posted by speakup > 2015-11-03 10:35 | Report Abuse

Market react negatively to Sona QA.

As i said, this Stag deal is not as good as Salamander deal.

Posted by nice1 > 2015-11-03 10:45 | Report Abuse

if your purchased price is is 0.30cts, conversion price is 35cts, that means u have to pay 35cts to convert to mother share

your total cost is 65cts

now the warrant at market price is 11 cts plus conversion price 35cts = total cost is 46cts

Posted by matilda > Nov 3, 2015 10:30 AM | Report Abuse

Assuming l have purchased sona warrants at 0.30 sen and the exercise price is 0.35 sen, what will be the amount l have to pay to convert? Could someone help.

Posted by nice1 > 2015-11-03 11:12 | Report Abuse

sell Hibiscus, sell Cliq
buy Sona

Posted by eftee > 2015-11-03 11:21 | Report Abuse

Hahaha no one buying today

Posted by menly > 2015-11-03 11:58 | Report Abuse

another worrying news. i read that the field is ageing or at end of life.
this article said production per day very low.
and this offshore field so production cost very high.
is it worth it to vote?
or vote no then we get better return?
is this why no one buying today?

http://investor.apachecorp.com/releasedetail.cfm?releaseid=537956

Production has resumed at the Apache-operated Stag and Legendre oil fields off the coast of Western Australia. The fields were shut in Dec. 16 because of high seas brought on by a tropical low weather system.

The Legendre field has gross production of about 2,500 barrels of oil per day (1,950 barrels per day net). The Stag oil field has gross production of about 4,500 barrels of oil per day, or 1,400 barrels per day net.

Posted by IBInsider > 2015-11-03 16:26 | Report Abuse

menly, please analyze closely. firstly stag oilfield 1P (which is p90) is est to have access 13million barrels, and this is PROVEN OIL DEPOSITS. With the proposed infill well drillings, SONA will also gain access to another estimated 16 million barrels (2P/P50). Simple math, Output 4,500 barrels a day x 30 days x 12 months/ 13million = 8 years.

So only from starting straight after acquisition you already have these "assets" of proven oil deposits. Infill drilling after for the 2P section is a bonus. Add ontop 300million left over from IPO, add ontop again current bottom-ing out of oil prices (Iran supply production may push it down a little futher, malaysia's gov budget forecast 50$ still considered conservative and safe-ish) .

If your worried you can sell to me and buy into HIBISCUS instead haha

Posted by IBInsider > 2015-11-03 16:34 | Report Abuse

http://www.ogj.com/articles/2015/11/sona-to-buy-stag-oil-field-from-santos-quadrant-for-50-million.html


est vary 4,500-5,500 barrels p/day

"Sona sees continuing value in the asset with potential for new development and exploration opportunities. It is the Malaysian company’s first move into Australia and the company says that in this single transaction it will be able to enter the production, development, and exploration phases of the upstream industry."

honestly a very sensible qualifying acquisition, its not only about the oil, infrastructure, exposure and also exploration for future prospects are also important. People who wanted great gains went to hibiscus and lost their pants. Slow and steady, building foundation is important.

Posted by trader66 > 2015-11-03 17:26 | Report Abuse

With this purchase, SONA may still hold a lot of cash to look for other QA if any. Indeed, this is a very good move for this wise acquisition. Just wait, if every steps go smoothly. Believe this counter will attract a lot of fund Mgr's investment. It will definitely show a quantum leap price in near future.