Posted by jack2 > 2016-02-26 16:52 | Report Abuse

the son performance just wow
still has much legs once QA approved

Posted by jack2 > 2016-02-26 17:09 | Report Abuse

sell other oil n gas counters and switch to sona

for eg
SKP - business with upstream & downstream - debts more than RM10B - u calculate how much interest cost per year plus some loans in usd!!

Sona, with no debts and net cash after acquisition with positive cash flow - will be the attraction - the new dara...

when oil price recover to usd50, upstream buziness will benefit first and very little trickle down to downstream section

all the downstream with OSV vessels, Jack Up Rigs business, will not benefit much as oil company is not likely to go big on exploration and find new wells at usd50 - most just maintain existing oil fields

Hadi, the new future Billionaire...

sona, oh wow

Posted by jack2 > 2016-02-26 18:44 | Report Abuse

oil price surging usd35.93

oh wow

Posted by coolinvestor > 2016-02-26 18:55 | Report Abuse

Impressive ..

Posted by jack2 > 2016-02-26 21:55 | Report Abuse

brent usd36.62

Posted by CLIQmanagement > 2016-02-27 13:36 | Report Abuse

i got 1 worry. The vendor is not selling and want to cancel deal. lol

Posted by jack2 > 2016-02-27 19:00 | Report Abuse

the vendors are multinational companies in oil n gas. the stag field is just a marginal business for them

if you google, u can check that the vendors had tried to sell their companies but received very low offer. Now the offer received is much better than before and why dont they sell

the vendors too need hard cash fast to pay debts and for cashflows...

Posted by coolinvestor > 2016-02-27 19:48 | Report Abuse

Waiting to laugh all the way to the bank

Posted by pukimak_ahmad_ziyad > 2016-02-28 00:20 | Report Abuse

When is the AGM ?

Posted by jack2 > 2016-02-28 11:51 | Report Abuse

my 4 wishes

1. reduce purchase price to around usd35M & below... now is nego process, result...

2. bring down production cost below usd20 pb ...work-in-progress - good time to reduce operating cost and squeeze the suppliers, result is lower production cost & higher profit margin....

3. recovery of oil price to usd40++... now oil price is recovering usd35++.. still have good upside at least to usd40 in short term...

4. share price at least 50cts and above before EGM - to allow the kiasi to sell before EGM. likely in a month time probably in early april...


believe me this will be the darling stock once oil price recover in 2nd half and next year.

only those nutties will think oil price will remain low forever.. oil price around usd34 pb - Sona is making gross profit of 30%

if oil price usd40 pb which is already good for Sona - gross margin is 53% (you can expect the share price to double)

any oil price above usd50 pb is a bonus (then the price will triple)

if 3/4 of the my wish list above is achieved, EGM hurdle is not a problem

my crystall ball said all is fine and Hadi is a new B... within 3 yrs... all shareholders are happy to ride on his success...

my advise is to sell other oil n gas counters eg SPK, UMWog....
even oil price at usd50 pb, sona is laughing all the way to the banks, other supporting oil companies are still suffering frm poor business, they need oil price at least usd70++ to flourish

in addition - sona has no debts - debts free free, zero debts, other oil n gas counters are loaded with debts debts in billions eg SKP rm10B, umwog rm3 B....u calculate their interest cost in poor business environment in support services, kaput kaput...

time to switch counter from other oil n gas support services to sona....

Posted by callme777 > 2016-02-28 14:12 | Report Abuse

Talk so much, if QA rejected , doesn't matter if oil goes to usd200. At current prices just vote against it

Posted by coolinvestor > 2016-02-28 16:01 | Report Abuse

Unfortunately....there will always be jealous n chicken ppl condemning the successful ones...

Posted by Edwin Mazai > 2016-02-28 20:48 | Report Abuse

Anyone know when is the AGM date ?

Posted by CLIQmanagement > 2016-02-28 21:34 | Report Abuse

is EGM

Posted by Edwin Mazai > 2016-02-28 23:17 | Report Abuse

Ya..is EGM.. so do anyone know is when ?

Posted by coolinvestor > 2016-02-29 00:40 | Report Abuse

Price must be above 48.5 sen or many shareholders will just say no.

i think this is a very very misleading statement with bad intentions. I am a shareholder n i say
Yes pls buy the Qa so i can sell sona at a much higher price than a miserable 48cents.

many shareholders will say no. Are these the minor or major ones?
Major shareholders will definitely vote yes. This is logical as they want to make more money. Only stupid ppl would want less money. Only idiots would want 3 to 4 cents of profit.

Btw i believeeven tho the stupid ppl want to vote no.....the yes votes will be more due to a lot of major shareholders listed in their annual report. With so many buying now i believe its only a matter of time ...

i own sona shares and no i do not want 3 or 4 cents profit. Buy at your own risk thx

Posted by callme777 > 2016-02-29 08:27 | Report Abuse

0.485 than talk la. Now talk cxxk

Posted by jack2 > 2016-02-29 08:41 | Report Abuse

we shud be sharing info than arguing over nothing

pls provide good analysis and info than talk 3 & 4 and the usual ghost stories, hehe

Posted by jack2 > 2016-02-29 08:44 | Report Abuse

it would be great if there is petroleum engineer eg Hakim that can provide good analysis on oil fields previously

really misses good analysis, not ghost stories, hehe

Posted by jack2 > 2016-02-29 09:03 | Report Abuse

suspended for announcement

Posted by jack2 > 2016-02-29 09:03 | Report Abuse

On behalf of Sona Petroleum, CIMB Investment Bank Berhad is pleased to announce that Sona E&P (Perth) Pty Ltd (as buyer) and Sona Petroleum (as buyer guarantor) entered into a deed of variation with the Sellers on 29 February 2016 (“Deed of Variation”) to inter alia, reduce the Base Purchase Price from US$50.0 million (or equivalent to RM206.5 million) to US$25.0 million (or equivalent to RM103.2 million).

In line with the reduction in Base Purchase Price, GCA has issued an updated fairness opinion dated 29 February 2016, which considers the Base Purchase Price of US$25 million (or equivalent to RM103.2 million) to be fair.

The Deed of Variation will be available for inspection during normal business hours at B-13-15, Level 13, Menara Prima Tower B, Jalan PJU 1/39, Dataran Prima, 47301 Petaling Jaya, Selangor Darul Ehsan, Malaysia from Mondays to Fridays (except public holidays) for a period of 3 months from the date of this announcement.



This announcement is dated 29 February 2016.

Posted by ktsk88 > 2016-02-29 09:03 | Report Abuse

Good news. Now the price is fairly within the market valuation and now the time to fly.

Posted by CK Lim > 2016-02-29 09:05 | Report Abuse

Unless otherwise stated, the exchange rate of US$1.00:RM4.1295 being Bank Negara Malaysia’s middle rate as at 5.00 p.m. on 15 February 2016, is used throughout this announcement for purposes of translation of US$ into RM. Abbreviations used in this announcement shall have the same meanings as defined in the announcement dated 2 November 2015, unless denoted otherwise.

We refer to the announcement dated 12 February 2016 in relation to the Proposed Acquisition whereby Sona Petroleum, among others announced that Sona Petroleum had obtained the SC’s approval for the Proposed Acquisition and that Sona Petroleum was in negotiations with the Sellers to reduce the purchase consideration for the Proposed Acquisition.

On behalf of Sona Petroleum, CIMB Investment Bank Berhad is pleased to announce that Sona E&P (Perth) Pty Ltd (as buyer) and Sona Petroleum (as buyer guarantor) entered into a deed of variation with the Sellers on 29 February 2016 (“Deed of Variation”) to inter alia, reduce the Base Purchase Price from US$50.0 million (or equivalent to RM206.5 million) to US$25.0 million (or equivalent to RM103.2 million).

In line with the reduction in Base Purchase Price, GCA has issued an updated fairness opinion dated 29 February 2016, which considers the Base Purchase Price of US$25 million (or equivalent to RM103.2 million) to be fair.

The Deed of Variation will be available for inspection during normal business hours at B-13-15, Level 13, Menara Prima Tower B, Jalan PJU 1/39, Dataran Prima, 47301 Petaling Jaya, Selangor Darul Ehsan, Malaysia from Mondays to Fridays (except public holidays) for a period of 3 months from the date of this announcement.



This announcement is dated 29 February 2016.

Posted by ktsk88 > 2016-02-29 09:05 | Report Abuse

All the warrant holders can breathe and take a break knowingly that they got another 2 years to exercise the warrants.

Posted by CLIQmanagement > 2016-02-29 09:05 | Report Abuse

reduced from 50m to 25m ? am i understanding it wrongly ? please comment

Posted by jack2 > 2016-02-29 09:05 | Report Abuse

oh wow, oh wow,

oil field price reduced by 50% to USD25M

Now is considered fair price and good

Posted by ktsk88 > 2016-02-29 09:06 | Report Abuse

Yes the price reduced. So in other words, Bursa have given the greenlight to the QA.

Kudos to Hadian teams.

Posted by ktsk88 > 2016-02-29 09:07 | Report Abuse

hopefully, after lifting of the suspension later the stocks flies to 50 sen.

Posted by jack2 > 2016-02-29 09:09 | Report Abuse

yes, this counter will fly

Posted by CLIQmanagement > 2016-02-29 09:09 | Report Abuse

600k shares i have.. i am just targeting 60cents..

Posted by riaz > 2016-02-29 09:19 | Report Abuse

Good job

Posted by jack2 > 2016-02-29 09:23 | Report Abuse

the warrant is under priced

Posted by ktsk88 > 2016-02-29 09:27 | Report Abuse

the warrant is underpriced because the QA is not confirmed at that point of time. This time it will commanded a premium because the QA is approved by Bursa and the purchase prime is reduced hence no reason for the shareholders to voted against the purchase in the coming EGM.

Posted by CLIQmanagement > 2016-02-29 09:29 | Report Abuse

once counter re-open, lets hope for a price jump ! im queiing for another 100k shares mother.

Posted by jack2 > 2016-02-29 09:29 | Report Abuse

Warrant price est.

46 - 35 =11 cts + premium 4 to 8cts

roughly 15 to 20cts once QA APPROVED

Posted by ktsk88 > 2016-02-29 09:31 | Report Abuse

Jack22, QA is already approved by Bursa just the price need to be re-nogotiate which the company did. So now for the shareholders EGM to approve the QA unless someone or some funds deliberately voted against it.

Posted by jack2 > 2016-02-29 09:38 | Report Abuse

No announcement at Bursa website on suspension time line

Posted by jack2 > 2016-02-29 09:40 | Report Abuse

where can you find producing oil field at this price
oh wow oh wow

all funds will be lining to buy this real one

NO DEBTS, ZERO DEBTS, POSITIVE CASH FLOW

Posted by ktsk88 > 2016-02-29 09:40 | Report Abuse

Yes, this funds either vote for or against it, so we do not know their real intentions behind huge buying of the stocks...........but but judging from their buyings from 0.425 to 0.45 sen, i guess they knows something of the deals in advance that prompted them buying more in.

Hope they voted for the QA to go thru which will benefits them too.

Posted by ktsk88 > 2016-02-29 09:44 | Report Abuse

Yes the company is cash rich with incoming positive cashflow straight from the wells............and hopefully they can use part of the funds to invest down stream activities.

Posted by ktsk88 > 2016-02-29 09:45 | Report Abuse

i think the suspension will be lifted at 10am. Usually 1 hour suspension for announcement.

Posted by jack2 > 2016-02-29 09:46 | Report Abuse

Kindly be advised that trading in the above Company's securities has been halted with effect from 9.00 a.m., Monday, 29 February 2016.

Trading in the securities will resume with effect from 10.00 a.m., Monday, 29 February 2016.

Your attention is drawn to the Company's announcement dated 29 February 2016.

Posted by analyst > 2016-02-29 09:52 | Report Abuse

SONA has managed to reduce its purchase price from USD50m to USD25m which is deemed to fair & believe its trading price may see momentum & quantum leap. We will just cross our finger to see its performance soon

Posted by jack2 > 2016-02-29 09:54 | Report Abuse

once EPF & funds come in a big way, this one will fly

Posted by CLIQmanagement > 2016-02-29 10:00 | Report Abuse

looking the price people queue... doesnt looks good

Posted by ktsk88 > 2016-02-29 10:00 | Report Abuse

Just sit back and relax as we ride to the top..........oil producers and first SPAC to successfully acquired a QA...........even Cliq or Hibiscus will all the news n hype failed doing so.

Congrats to the Sona teams and all the patience shareholders for the faith in the company.

Posted by Vjean > 2016-02-29 10:01 | Report Abuse

Purchase price has been reduced from USD 50 M to USD 25 M, yes, the price is fair, but 80% utilization of the trust account reduced from 40% t0 20%, the rest of 60%? again for 2nd stage QA? still got time? expiring on this July 2016.

Posted by ktsk88 > 2016-02-29 10:12 | Report Abuse

Vjean, the current QA already comfirmed the listing status quo of Sona, so no need to wait for 2nd QA.

Posted by Kareemabduljabbar > 2016-02-29 10:16 | Report Abuse

As per own calculation, the fully diluted value of this company, with some assumptions on oil production and also oil price, is about 80 cts per share. I am looking forward to the circular and particularly the revised consultants report to see why they changed to fair value. Obviously some of their assumptions are critical and sensitive. As for funds buying, they will need to write up their paper internally and also submit to the management committees for approval, this takes time. If indeed EGM is end March, there is not sufficient time. Also since any 20 pct can decline and the deal is dead, the promoters must be quite thoughtful how they will manage expectations. At stake for the promoters is Myr 200 million, ie their mkt value of shares and warrants at say 55 cts. Myr 200 million is a lot of firepower to do many things.

Posted by callme777 > 2016-02-29 10:19 | Report Abuse

Reduce by half and share price still 0.465.... Hmmmm.... Not looking good