Posted by ktsk88 > 2016-02-29 10:23 | Report Abuse

Why said not looking good, all these while the share pricing is around 425 to 45 sen from the 1st QA until now. You should be happy its stay the same way it was, now we are into 2nd phase where after all the approval in place, it starts generating income and cashflow for the company and we should see the 1st quarter reports in June'16.

Posted by sheep > 2016-02-29 10:23 | Report Abuse

most people keeping an eye for aa and aax aax-w. no eye for others...wakakakaka.

Posted by callme777 > 2016-02-29 10:26 | Report Abuse

Suspended , announced slash by half QA purchase and stock is still here.

Posted by ktsk88 > 2016-02-29 10:41 | Report Abuse

What you expected?...............it just acquired it maiden QA to stays afloat and you should rejoice for the coming QR and beyond for the price to reflected then.

Be patience for another few months.

We are talking about future, the oil price will rebound and so forth the share price.

Posted by CLIQmanagement > 2016-02-29 10:42 | Report Abuse

at least lah show some excitement... the volume also hang there. No one is reacting to this news.

Posted by ktsk88 > 2016-02-29 10:42 | Report Abuse

And we still one more steps before everything settle down........the EGM.......so do not expected miracles in the share price.

Posted by Kareemabduljabbar > 2016-02-29 11:17 | Report Abuse

If share price don't go up before the egm, then no one will vote QA and deal will fail, and promoters won't make their Myr 200 mil. Very simple. Don't think too far beyond egm. Any 20 pct can vote no. Any. Insha Allah stock will go up.

Posted by coolinvestor > 2016-02-29 11:19 | Report Abuse

Particularly liked Kareem's calculation of 80cents.

Smart money investors are bold, patient, looks for value, not afraid of short term fluctuations. They also do not expect instant ups or downs. Share prices do not work like that. Only the day traders or noobs expect this. If they don't start learning they will lose..simply. they also like to jump in when the popularity of the shares show up..they are then kiasu to lose out. This is so common. That's why the smart investors wins most of the time. But the others almost always lose.

We can wait we will watch. Even deals Dun happen overnight. If we win we win big. Lose we lose little. This is real investing.

But again I still do not think major shareholders wants just 4 to 6 cents profit. This thinking is totally laughable if not downright utter stupidity thinking.

I own Sona shares. Buy at your own risk thx

Posted by Old90 > 2016-02-29 11:28 | Report Abuse

PROPOSED ACQUISITION OF 100% INTEREST IN THE STAG OILFIELD FOR A TOTAL CASH CONSIDERATION OF US$25.0 MILLION ("PROPOSED ACQUISITION")

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.

Posted by smalltimer > 2016-02-29 11:33 | Report Abuse

yahoo!.........?

Posted by jack2 > 2016-02-29 11:44 | Report Abuse

Don't expect miracle in share price though we all want to ride on rocket price

still eyeing more of the warrants during this pull back
High risk but high gain

Posted by Old90 > 2016-02-29 11:53 | Report Abuse

If the QA purchase success, SONA Wa will surely fly high.

Posted by CLIQmanagement > 2016-02-29 11:54 | Report Abuse

okay. I got 700k shares now.

Posted by coolinvestor > 2016-02-29 12:09 | Report Abuse

wow clig u really sapu a lot

Posted by maggiel > 2016-02-29 12:11 | Report Abuse

I thought SPACs need to utilize 80% of the funds? wonder if any other QAs still being contemplated.....

Posted by CLIQmanagement > 2016-02-29 12:22 | Report Abuse

sapu with share margin. at this point nothing much to lose.
if call for EGM, price drop, i will vote against it.
If price up, then decide to sell some or what.
still queue for 50k shares @ 0.46, and 50k shares @ 0.455

Posted by jack2 > 2016-02-29 14:04 | Report Abuse

http://www.theedgemarkets.com/my/article/oil-prices-rise-signs-mount-market-bottoming-out

Posted by Ant > 2016-02-29 14:52 | Report Abuse

50% discount for the QA............??? so cheap????????

Posted by CLIQmanagement > 2016-02-29 15:37 | Report Abuse

proposal to SC dunno how to revise, suddenly so cheap pulak.. haha.
This sounds like a happy problem.

Posted by ktsk88 > 2016-02-29 15:39 | Report Abuse

Revise QA price filing to Bursa is just formalities since approval already given by Bursa, the deal still stays for Sona to stay listed.

Posted by jack2 > 2016-02-29 15:59 | Report Abuse

Why so cheap? why need to pay more when u can acquire cheap cheap esp when oil price is low now

this acquisition will make other oil n gas counters looks fat and ugly with all the debts they are carrying

this is pure oil n gas counter play, will move according to oil price when QA is APPROVED during EGM

Posted by cricketlast > 2016-02-29 16:03 | Report Abuse

Just remember that there will be dilution effects when and if warrant holders convert to shares.
Good luck..

Posted by cricketlast > 2016-02-29 16:07 | Report Abuse

Saw that management managed to get the reduction in price of the QA. Good for the shareholders. Hope this will benefit everyone. :)

Posted by jack2 > 2016-02-29 16:22 | Report Abuse

sona soon aka mini PETRONAS

pure oil n gas counter

Posted by ktsk88 > 2016-02-29 16:32 | Report Abuse

Yes mini Petronas in the pipeline. Hope they can use part of the 80% trust funds to develops further the oilfield and to go downstream if possible.........or to acquire 2nd producing assets.

Posted by jack2 > 2016-02-29 16:57 | Report Abuse

not easy to get quality asset and cheap

now, the pressure is on Reach Energy....though the environment looks excellent but in reality not that easy

this pricing will be a benchmark for Reach guys

Posted by Kareemabduljabbar > 2016-02-29 19:36 | Report Abuse

At 45 cents, deal will be rejected. Plain and simple.

Posted by YC_Ma > 2016-02-29 19:49 | Report Abuse

Sona die liao cant get the QA ....sona wa die

Posted by YC_Ma > 2016-02-29 19:53 | Report Abuse

Tomorrow big boss will selling all tickets

Posted by YC_Ma > 2016-02-29 19:58 | Report Abuse

http://www.thestar.com.my/business/business-news/2016/02/29/sona-petroleum-gets-to-buy-australia-stag-oilfield-at-half-the-price/

Posted by upandownup > 2016-02-29 20:25 | Report Abuse

http://www.reuters.com/article/us-oil-markets-bottom-factbox-idUSKCN0W20HU


Factbox: Double hammer in a leap year: when will the oil slump end?

SINGAPORE/NEW YORK

As oil traders have learned time and again, picking a bottom in today's glutted market can be a fool's game. Just when prices start to rebound - as they have since mid-February - a wave of renewed bearishness can smack them back down.

While traders still see large risks to the downside as an overhang in production of 1 million to 2 million barrels of crude every day has left storage sites around the world filled to their rims, some first signs of recovery are emerging. This includes a double-hammer technical pattern, occurring on this year's leap day no less, which analysts say is a strong market indicator for higher prices.


1) DOUBLE HAMMER: TRADERS CHANGE THEIR MIND

Ringing in 2016's leap day, there are hints that sentiment in oil markets is getting more bullish. The number of bets, or net-short positions, on U.S. crude contracts falling has dropped over 17 percent since mid-February to its lowest level in 2016. At the same time, traders have boosted bullish bets on oil, raising net-long positions by nearly 16 percent. Technical indicators on the monthly U.S. crude candlestick chart even point to a so-called "double hammer" pattern, candlesticks with fat heads and long tails, for January and February. The pattern typically signals a bullish reversal. "A second hammer seems to be forming... in addition to the first hammer of last month," said Reuters technical analyst Wang Tao, adding: "The downtrend ... could be reversing."


2) NEW CARS EVERYWHERE

Falling crude means gasoline and diesel drops as well, so consumers worldwide are filling up and driving more. Motor fuel demand in North America and Europe is at or near record highs, and car sales are healthy. But, the real demand boost is coming from Asia, where some 2.5 million new cars hit the market in China every month. India, long a laggard of oil demand, has just pipped Japan as Asia's number two oil importer. Together, China and India are on track to overtake the United States as the top oil consumer.


3) PUMP THAT SHALE, OR NOT

The United States is still pumping near-record volumes of crude, despite the price slump. But the strain is starting to show. U.S. drilling activity has now dropped for 10 straight weeks and is at the lowest since December 2009. As a result, the International Energy Agency (IEA) expects U.S. production to fall by 600,000 barrels per day (bpd) this year.


4) ARMY OF OIL ZOMBIES

U.S. oil companies are feeling the strain and many, known as "zombies", have stopped pumping as they wait out the downturn, saving cash and paying off what debt they can. Banks threaten to cut credit lines, sending companies under and cutting output capacity.


5) YOU DON'T SPEND, YOU DON'T GET

If any one thing points to the dangers of a supply shortfall in the future, it's a lack of investment. As famed oil bull Andrew Hall said earlier this year, when prices had slumped to their lowest level since 2003: "Prices will eventually have to move to a level that creates supply rather than destroys it." That point may have to come soon, with energy consultancy Wood Mackenzie estimating that $380 billion worth of planned oil and gas projects have been postponed or canceled since 2014 in one of the biggest cost-cutting measures ever.


6) SAUDIS BLINK?

After a year of racing to pump for global market share which sent prices crashing, OPEC's de facto leader Saudi Arabia and non-OPEC production giant Russia are now talking about freezing output at January levels. Keeping output near record levels would do little to reduce the global glut, but it might stop it from ballooning further. The problem is fitting Iran into the picture, as the country has promised to boost output to pre-sanctions levels after they were lifted in January. Unsurprisingly, Tehran called the proposal that would freeze Russian and Saudi production around 10 million bpd while Iran would have to do with a mere 1 million bpd "laughable."


7) FOG OF WAR

When the specter of supply-disruptive conflict looms, skittish traders look to buy oil. With Iraq and Syria in disarray, Saudi Arabia bombing Yemen, and Russia embroiled in conflict in both Ukraine and Syria, there is plenty to watch. Struggling with high spending and tumbling revenues, risk analysts are also keeping a keen eye on stability in Venezuela, Nigeria, Angola and Algeria. Compounding the risk, the amount of available spare OPEC oil capacity that could compensate for any sudden shortage is little more than 1.25 million bpd, the lowest since before the global financial crisis in 2008, according to the EIA.


(Reporting by Henning Gloystein in SINGAPORE and Edward McAllister in NEW YORK; Editing by James Dalgleish and Christian Schmollinger)

Posted by Ant > 2016-03-01 10:23 | Report Abuse

up or down, bad or good, will see between this week, I guess.

Posted by Old90 > 2016-03-01 11:28 | Report Abuse

CREDIT SUISSE GROUP AG, keep on acquire Sona shares.

Posted by CLIQmanagement > 2016-03-01 12:16 | Report Abuse

Finger crossed something good ahead... Im just praying for a 60cents within this year

Posted by coolinvestor > 2016-03-01 12:24 | Report Abuse

credit suisse keeps on buying at current price. this is good news indeed.

lets see how it goes this month of march. news are slowly coming out from the management dy

Posted by CLIQmanagement > 2016-03-01 16:21 | Report Abuse

EGM.. come on !!!

Posted by Old90 > 2016-03-01 16:24 | Report Abuse

More and more good news to come for Sona.

Posted by YC_Ma > 2016-03-01 16:24 | Report Abuse

NO HOPE RUN

Posted by ktsk88 > 2016-03-01 16:38 | Report Abuse

Why run when the QA is already renegotiated to half and fair price. Bursa already give the greenlight for the QA, the Australia authority already approved so now only Sona shareholders votes pending.

Posted by jack2 > 2016-03-01 16:46 | Report Abuse

hehe, don't listen to retard

Posted by jack2 > 2016-03-01 16:47 | Report Abuse

oil price has already bottomed
now, price is recovering and surging brent usd36.86
usd40 comin

what a darling stock in a few months

Posted by jack2 > 2016-03-01 16:50 | Report Abuse

was waiting n waiting in the queue to buy more warrants
from 8.00am till now, wow wow long queue

Posted by jack2 > 2016-03-01 16:53 | Report Abuse

at oil price usd36, gross profit is usd10 pb
as oil price recovering and up & up, to above usd40

the sentiment will be oh wow oh wow
EGM is just a happy gathering, pls bring out the champagne

Posted by CLIQmanagement > 2016-03-01 16:53 | Report Abuse

oil is inching up

Posted by Old90 > 2016-03-01 16:56 | Report Abuse

Well said, jack2. Totally agree with you. Just the matter of time for both Sona and Sona Wa to shoot up.

Posted by Kareemabduljabbar > 2016-03-01 18:11 | Report Abuse

Has anyone gone to the company secretary office and looked at the fair value opinion by the consultant to check what assumptions they using and to then calculate a NAV ? Writing simple anecdotes are fun and interesting but useless from an investment perspective. I calculate agak agak 80 cts NAV, maybe more. Anyone have any thoughts ? Or just talk cock ?

Posted by jack2 > 2016-03-01 20:19 | Report Abuse

brent usd36.86
hope can cross pass usd37 by tmrw morning
more punters are going long than short
good signs

Posted by Old90 > 2016-03-01 23:09 | Report Abuse

Yet again, Pacific Alliance Group and CREDIT SUISSE GROUP keep on acquire SONA SHARES.

Posted by YC_Ma > 2016-03-02 00:50 | Report Abuse

Wayang wayang

Posted by Kareemabduljabbar > 2016-03-02 08:22 | Report Abuse

With the higher forward oil prices and also a stronger Myr, we are now getting a higher NAV calculation. Let us see if it lasts. One strategic shareholder question is that for a small sum, since the warrants only 10 cts, a predator can buy a meaningful stake in the company via the warrants. You not only get a great oil and gas asset but you also get a listed shell. The promoters need to think about this carefully.hopefully this week and next week good news that the stock is higher so that a successful QA. God bless. Insha Allah.