Posted by prc4wifefe > 2016-02-04 12:47 | Report Abuse

wait is nearly over...SC approval coming soon!

Posted by jack2 > 2016-02-04 14:12 | Report Abuse

QA approval likely after CNY

Posted by jack2 > 2016-02-04 14:13 | Report Abuse

once QA is approved, the big players can goring the counter according to oil price movements

Posted by YC_Ma > 2016-02-05 09:55 | Report Abuse

No hope run

Posted by hian949372 > 2016-02-05 12:19 | Report Abuse

sona.. but the big player is coming in oh.. u see the share being keep buy credit suisse....should hold?

Posted by CLIQmanagement > 2016-02-09 21:55 | Report Abuse

oil price pointing to drop again.. guess we need a longer time..

Posted by jack2 > 2016-02-11 16:15 | Report Abuse

45 cts strong
strong accumulation by Pacific and credit suizze

Posted by jack2 > 2016-02-11 16:16 | Report Abuse

QA approval expected soon

Posted by jack2 > 2016-02-11 16:53 | Report Abuse

few sellers at 45 cts
now 45 cts is the support
looks like can fly leh
once QA approved and oil price rises

Posted by jack2 > 2016-02-11 17:25 | Report Abuse

the stock is getting stronger
QA is coming

Posted by azta12 > 2016-02-11 17:38 | Report Abuse

http://www.cnbc.com/2016/02/10/crude-oils-bad-days-are-here-to-stay.html

Posted by BeatIt > 2016-02-11 17:51 | Report Abuse

http://www.thestar.com.my/business/business-news/2016/02/10/some-150-oil-firms-may-file-for-bankruptcy-as-oversupply-pressures-prices/

Better switch counters guys, Oil Co all collapsing. In Fire Monkey, try co like Iris. Technology is represented by Fire in fengshui.

Posted by jack2 > 2016-02-12 09:20 | Report Abuse

well supported at 45 cts
Pacific Alliance accumulated 12% stake in 2 months
that speak volume of the counter and potential upside once QA approved soon

Posted by jack2 > 2016-02-12 17:40 | Report Abuse

son flying up 33%
indication of QA approval

Posted by ab55 > 2016-02-12 18:25 | Report Abuse

On behalf of Sona Petroleum, CIMB Investment Bank Berhad (“CIMB”) is pleased to announce that the approval of the Securities Commission Malaysia (“SC”) in relation to the Proposed Acquisition had been received on 12 February 2016.

Posted by dragonfruits > 2016-02-12 21:42 | Report Abuse

Ade hope kah?

Posted by jack2 > 2016-02-12 21:58 | Report Abuse

once oil price go above usd35
can expect fireworks

Posted by Flybythenite > 2016-02-12 22:01 | Report Abuse

Oil now USD 27.89

Posted by analyst > 2016-02-13 00:44 | Report Abuse

http://www.bloomberg.com/news/articles/2016-02-11/oil-rebounds-after-tumbling-to-lowest-in-12-years-on-supply-glut

Oil rose the most in three weeks as equities rebounded and OPEC reiterated its willingness to engage with other producers.

QUICKTAKE - Oil Prices
Futures rose as much as 10 percent in New York after settling at the lowest since May 2003. U.S. stocks halted a five-day slide that dragged global equities into a bear market. The CBOE Crude Oil Volatility Index, which measures expectations of price swings, climbed to the highest level in seven years Thursday. Producers are ready to work together and won’t make cuts unless there is complete cooperation, United Arab Emirates Oil Minister Suhail Al Mazrouei said on a Sky News Arabia report posted online Feb. 10.

"It makes a lot of sense to cover shorts after plunging to new 12 year lows," said Bob Yawger, director of the futures division at Mizuho Securities USA in New York. "We had one of the more reliable people in OPEC say that it was willing to cooperate in making cuts. I don’t believe anything will come of it but you have to pay attention."
Crude is still poised for a second weekly drop on speculation a global surplus will persist amid near-record U.S. stockpiles and the potential for increased exports from Iran after the lifting of sanctions. Oil climbed above $32 a barrel last week as Venezuela said six OPEC producers and non-member states including Russia would be open to an extraordinary meeting. Prices plunged 19 percent the next six sessions on skepticism a deal could be reached.
West Texas Intermediate oil for March delivery rose $2.64, or 10 percent, to $28.85 a barrel at 10:51 a.m. on the New York Mercantile Exchange. It’s the biggest gain since Jan. 21, which also followed the making of a 12-year low. Total volume traded was 78 percent above the 100-day average. Prices are down 22 percent this year.
Brent for April settlement climbed $2.07, or 6.9 percent, to $32.13 a barrel on the London-based ICE Futures Europe exchange.

“‘Prices are not appropriate, I won’t say for the majority only, but for all producers,” U.A.E.’s Al Mazrouei said in an interview in Arabic on Wednesday. “The people who have spent money and have this investment, it’s natural that they won’t make cuts alone unless there is complete cooperation from everybody in that area.”
U.S. crude supplies fell 754,000 barrels from a 86-year high last week, according to an Energy Information Administration report released Wednesday. Crude stockpiles at Cushing, Oklahoma, the biggest U.S. oil-storage hub, rose to a record 64.7 million barrels.

Posted by e1shi > 2016-02-13 09:37 | Report Abuse

Sona Petroleum gets commission’s approval to buy oilfield - See more at: http://www.themalaysianinsider.com/business/article/sona-petroleum-gets-commissions-approval-to-buy-oilfield#sthash.9fdWo2oM.dpuf

Posted by e1shi > 2016-02-13 09:39 | Report Abuse

KUALA LUMPUR: Sona Petroleum Bhd has received the Securities Commission’s (SC) conditional approval to acquire the Stag Oilfield offshore Western Australia although the regulator also noted that the purchase price of US$50mil (RM207.8mil) was deemed “not fair” by an independent expert.

read more : http://www.thestar.com.my/business/business-news/2016/02/12/sc-okays-sona-petroleums-oilfield-buy-but-notes-unfair-price/

Posted by cricketlast > 2016-02-13 10:01 | Report Abuse

QA price is overprice. Better take the money and invest in cheaper o&g stock directly.vIf management don't get a big discount, most shareholders would vote against it. How much will shareholders get if they reject the acquisition?

Posted by ktsk88 > 2016-02-13 10:14 | Report Abuse

SC approved the deals but said is overly fair value and ask Sona to renegotiate the pricing and if they still stick to the pricing, SC still approved provided shareholders voted and approval of the deal. I am sure the shareholders will approved it even the purchase price is not revised because Sona is gonna starts getting income from oil sales in the market since the oilfield is producing currently.

It just need utilise the 80% trust monies to expand current oilfield as on of the condition for the approval.

So all in, everyone benefits rather than voted down the approval even the price is abit high.

We're looking for roads ahead.

Posted by coolinvestor > 2016-02-13 10:28 | Report Abuse

Vote against QA probably get back about 47sen per share
Vote for QA will definately get higher than that.

Unless there are really brainless investors who prefers not to have money.....

I rest my case

Posted by ktsk88 > 2016-02-13 10:33 | Report Abuse

I am sure Sona will gets the majority of the shareholders to voted the deals thru since big investors like Credit Suisse/PAG/Pacific/etc are holding more than 50%......and all small investors are eager to get the QA thru after holding more than 2 years over.

Posted by jack2 > 2016-02-13 10:51 | Report Abuse

the founders are not stupid people, they want the deal to go through

they are in Perth negotiating for the best price

the sellers know Sona is running out of time but they also need cash as soon as possible and there is no better deal on the table for them

I believed both parties will compromised on a possible lower price in a win win situation in current oil price environment

Posted by ktsk88 > 2016-02-13 10:58 | Report Abuse

At least i can breathe better now since SC given approval..........cos holding lots of warrant.

Posted by coolinvestor > 2016-02-13 11:02 | Report Abuse

Yes ktsk me too. I am holding boyh the mothershare n warrants. Warrants will expire in 2018 when QA officially ok by shareholders. But i think sure ok. So many ppl buying

Posted by jack2 > 2016-02-13 11:02 | Report Abuse

Since independent consultant said the purchase price is not fair (due to lower world oil price. What if oil price shoot up later in the year? then purchase price is a steal. LOL.)

I bet Hadi will negotiate for a lower price and get all big stakeholders to support the deal esp Credit Suisse and Pacific Alliance.

Posted by jack2 > 2016-02-13 11:05 | Report Abuse

http://www.theedgemarkets.com/my/article/sona-petroleum-negotiate-lower-acquisition-price-aussie-oilfield

Posted by jack2 > 2016-02-13 11:16 | Report Abuse

as SC has approved the QA, next round is shareholders during EGM next month likely March

factors that can affect share price movements from now onwards

1. successful nego lower purchase price
2. movement of oil price, brent usd33++
3. big funds buying and selling

Posted by prc4wifefe > 2016-02-13 14:16 | Report Abuse

Well known o&g CEO of big company to join as independent director...stay tuned

Posted by callme777 > 2016-02-13 15:02 | Report Abuse

Over priced by rm120mil

Posted by riaz > 2016-02-13 15:57 | Report Abuse

Not true over price by rm 120 million

Posted by CLIQmanagement > 2016-02-13 18:38 | Report Abuse

to get the EGM pass, those real beneficiary need to push up the price for all shareholders to happy and agree

Posted by jack2 > 2016-02-13 23:00 | Report Abuse

true, just common sense if reject QA can get refund of 47cts

the share price must be above 47cts for shareholders to support the QA during EGM or else just sell the share at market price. They need 75% shareholders support

if share price remain 45cts, many shareholders may just reject the QA and get 47cts refund

I think Hadi is not an idiot, shud understand the basic market common sense

Posted by callme777 > 2016-02-13 23:29 | Report Abuse

Riaz read la.... Don't just comment. Read the news. They saying overpaid rm120mil

Posted by riaz > 2016-02-14 08:32 | Report Abuse

Callme 777: in which report that said they are 120 million overpaid?

Posted by jack2 > 2016-02-14 09:18 | Report Abuse

its not over paid, it is over priced !!, they haven't paid a single cent yet.

now, still negotiating to lower the purchase price - buyer is desperate to buy due to time constraint while seller is desperate to sell for cashflow purpose - both side pandai pandai to compromised on the pricing lor

In any sales and purchase of business, surely there is a premium over the net asset value of the company, in this case oil field, not much info was given on the over priced value and methodology to calculate over valuation. this is the issue when oil price is low, but when oil price appreciate, I bet the sellers will said the same thing - under priced. LOL

Posted by cricketlast > 2016-02-14 09:46 | Report Abuse

Just remember that once the qa is approved, warrants can also start to be converted. Potential dilution effect to those shareholders who do not hold any warrants.

Warrant holders would want the QA to be approved. Without QA, their warrants would be worthless..

You can refer to Cliq warrant. Now RM0.005.

Posted by coolinvestor > 2016-02-14 13:02 | Report Abuse

Warrants are normally issued to existing shareholders as a bonus free money or to rights holders as an incentive. Plus it's normally an additional way to trade on the company.

Becoz it's normally way cheaper than the mothershare, it's normally speculated heavily by traders. Bear in mind becoz it's cheap like penny stocks the potential to gain more in profits are greater compared to buying the mothershare.

Unless it's expiring on the same year u will see heavy betting just becoz it's cheap.
Hence normally ppl will trade it becoz it's cheap to make a good profit and not to buy to convert to mothershare. This is because u will need to fork out cash to convert, here 35c per warrant.

The only reason why u will want to convert is becoz u wanna increase your shareholding in the company n to take control?

Not many ppl understands this. Any other uses for warrants?

Posted by jack2 > 2016-02-15 09:19 | Report Abuse

Up 1 ct
now fund managers can buy after qa approved?

Posted by jack2 > 2016-02-15 09:26 | Report Abuse

accumulation at 46 cts
good signs

Posted by Ant > 2016-02-15 13:56 | Report Abuse

must break 0.475 then only got true show....
if not will go back 0.455 -0.45 again

Posted by jack2 > 2016-02-15 15:29 | Report Abuse

Yup, need big funds to come and attacked 48 cts and break 50 cts

Before EGM in a month, need to break 50cts to be convincing to shareholders

Posted by e1shi > 2016-02-15 16:19 | Report Abuse

no announcement from the management yet?

Posted by jack2 > 2016-02-15 19:19 | Report Abuse

up 1 ct, 14 M shares traded
good liao

Posted by Ant > 2016-02-15 19:42 | Report Abuse

who is selling and who is buying....

Posted by spectre007 > 2016-02-15 20:58 | Report Abuse

Credit Suisse

Posted by riaz > 2016-02-16 09:28 | Report Abuse

Sikit sikit lama lama jadi bukit