Posted by ktsk88 > 2016-03-03 15:26 | Report Abuse

yes jack2 got the points there, any informations will be available on the EGM notice circulars.

Just voted the deals and you will gain in longer terms with the oil recovery.

Posted by jeffthen > 2016-03-03 16:33 | Report Abuse

How long to take the sona-wa to convert to mother share? At this current price will end up 0.435 and if reject the QA will earn 0.05cents. Am i right?

Posted by CLIQmanagement > 2016-03-03 19:45 | Report Abuse

Top 27 shareholders are controlling 61.07% now.
I think is easy to make it approved.

Posted by Kareemabduljabbar > 2016-03-03 20:06 | Report Abuse

How do you know the top 27 list ? Doesn't matter what the top 27 control, any 20 pct can kill this deal. Any. Deal only approved if share price is above 50 and remains there. I woudl expect it need to be 55 or so to be comfortable. Promoters have a block worth Myr 200 mil at that price, ie shares and warrants. Up to them to use this block to ensure a successful QA.

Posted by CLIQmanagement > 2016-03-03 21:14 | Report Abuse

View from Bloomberg terminal.
Only those wanna vote against QA will attend. Those not attending most likely naturally agree.

Posted by maggiel > 2016-03-03 21:19 | Report Abuse

warrant cannot be converted until sona graduates from spac. if QA fails, warrants will be burnt.....

Posted by YC_Ma > 2016-03-03 22:31 | Report Abuse

Today warrant got high volume but price is not increase ..the menning is some big boss sold out

Posted by jack2 > 2016-03-04 08:29 | Report Abuse

brent around usd37
usd40 comin, would be great

Posted by callme777 > 2016-03-04 08:47 | Report Abuse

Yawnnnnnnnnnn

Posted by CLIQmanagement > 2016-03-04 11:08 | Report Abuse

i will propose refund 60% to shareholder, 20% for purchase, 20% for OPEX.

Posted by jack2 > 2016-03-05 09:27 | Report Abuse

brent price soaring usd38.72
oh wow, oh wow
usd40 comin

Posted by Kareemabduljabbar > 2016-03-06 13:54 | Report Abuse

Did you hear deal dead? I was told by broker a few major shareholders close to 15 % already agreed to vote no, and get back 48.5 cts in August. Buy 47 and get 48.5 in Aug, make 3 pct risk free. Ha ha ha.

Posted by coolinvestor > 2016-03-06 14:34 | Report Abuse

I tot u mentioned the refund is with 5 days? What do u mean by August? Your information seems very confusing

Posted by CLIQmanagement > 2016-03-06 15:30 | Report Abuse

if decided to fail it, lets meet at EGM. Dont drag it. Really sick of long wait

Posted by Kareemabduljabbar > 2016-03-06 18:18 | Report Abuse

If the QA fails, redemption is about a month after expiry of the 3 yr date which is August. If QA succeeds, dissenting shareholders get money back in 5 days after EGM. This is latest news. Pls have a look at the prospectus, I agree that let us decide at EGM but in reality since any 20 pct decline, the deal fails, then if indeed 15 pct already agree to vote no, likely the fixed income funds who not allowed to hold oil and gas equity, then this deal is dead already. Once it becomes clear deal is dead, investors will sell sona eve before the EGM, to the same level of other spac.

Posted by coolinvestor > 2016-03-06 19:15 | Report Abuse

Let's see how the market reacts tmw. News from brokers already have conflicts of interest written all over their face already. Regardless those with Sona shares at least can get a refund..in August lol.

So this is your safety net.

Posted by jack2 > 2016-03-06 19:35 | Report Abuse

just plain rumours spread & dont think there is any truth. surely there are small holders that are against the QA or having their own agenda

Funds holding more than 10% i.e. credit suise and Pacific are still accumulating, that shows the levels of confident

Posted by coolinvestor > 2016-03-06 19:46 | Report Abuse

Another note of interest. If credit suisse n Pacific just wants yield n vote against qa why are they abandoning cliq? They can just stay there n get their cash but they have to sell most of their cliq positions n buy Sona. Is Sona yield higher? Credit went from 5% to 7 n back down now to about 5. Why are they buying Sona until >10%?
.

Any ideas guys?

Posted by jack2 > 2016-03-06 20:37 | Report Abuse

exactly, if credit suise & Pacific are after yield, then they shud not be selling cliq and buy sona since there is a possible higher return once trust fund is refunded by Cliq

that means both credit suise and pacific are expecting higher return by investing in Sona once QA is approved and oil price turnaround from the bottom

Posted by callme777 > 2016-03-06 21:40 | Report Abuse

The stock price stays below 0.485 tells a lot! I hope it moves higher soon

Posted by CLIQmanagement > 2016-03-06 22:17 | Report Abuse

as a investor, after buying asset with 20% cash, i do not want the management to have access to 80% of the fund just like that. Asset is already cash flow generating, you need need more cash.

Posted by jack2 > 2016-03-07 07:48 | Report Abuse

my estimate, a minority group will opt for refund probably less than 5%, then balance 95% cash, half will go to Stag and the balance will go to buy another new field in the near future once the current QA is approved

in future, we have a mini PETRONAS Sona

Posted by jack2 > 2016-03-07 08:00 | Report Abuse

oh wow
brent soaring usd39.09

Posted by callme777 > 2016-03-07 09:24 | Report Abuse

Wow usd39.09 and Sona is still below 0.47 wow wow wow

Posted by CLIQmanagement > 2016-03-07 10:09 | Report Abuse

Without EGM, price will not up. Sona still not owning any assets.

Posted by callme777 > 2016-03-07 10:22 | Report Abuse

Yup... So no need wow wow wow everytime crude oil is up. Sona has to pass the EGM

Posted by jack2 > 2016-03-07 10:36 | Report Abuse

Reach just announced a possible QA costing RM600M+, somewhere in ubzekistan?

Now is good to compare which one is better, hehe

Posted by CLIQmanagement > 2016-03-07 14:14 | Report Abuse

expensive stuff is better right ?...

Posted by jack2 > 2016-03-07 14:52 | Report Abuse

just speechless...

Posted by prc4wifefe > 2016-03-07 16:29 | Report Abuse

@jack2 reach deal max only 5100 tong sehari...mana good deal

only good deal is Ah Moi at Kazak site :-)

Posted by coolinvestor > 2016-03-07 17:04 | Report Abuse

when the herd mentality is fearful.....its really time to be greedy.
fear will totally drive out a lot of risks in the stock...hence becomes low risk

oh yea

Posted by jack2 > 2016-03-07 17:16 | Report Abuse

prc4wife- wow 4 wives
that why I said need to do an analysis for comparison
by-the-way, I only have one wife- she is sona

Posted by ab55 > 2016-03-07 17:27 | Report Abuse

Dont forget SONA produce 4,600 bpd but got cash in hand RM400m

Posted by coolinvestor > 2016-03-07 17:30 | Report Abuse

That money 400m has to be used to do expansion on the stag field. it is stated in SC's conditions for approval. Plus it has to be put into a trust account...not simply used by the management. SC is quite strict

Posted by ab55 > 2016-03-07 18:02 | Report Abuse

As long as the money to be used for stagfield to improve/increase oil production no big deal

Posted by YC_Ma > 2016-03-07 18:04 | Report Abuse

run run run

Posted by VenFx > 2016-03-07 18:05 | Report Abuse

but, top manager still can spend shareholders $$$ through remuneration. How suppose SC control that ?

Posted by ab55 > 2016-03-07 18:13 | Report Abuse

Everytime when they want to use the money from the fund they hv to get permision frm SC, that is the SC regulation

Posted by ab55 > 2016-03-07 18:19 | Report Abuse

Ini kali sajalah, by the end of the trust fund finish oil production will be increased to more than 10,000bpd, jangan menyesal.....

Posted by jack2 > 2016-03-07 19:23 | Report Abuse

GENERAL MEETINGS: Notice of Meeting

SONA PETROLEUM BERHAD

Type of Meeting Extraordinary General Meeting
Indicator Notice of Meeting
Description Notice of Extraordinary General Meeting
Date of Meeting 30 Mar 2016
Time 10:00 AM
Venue Sabah Room, B2 Level, Shangri-la Hotel Kuala Lumpur, 11 Jalan Sultan Ismail, 50250 Kuala Lumpur
Date of General Meeting Record of Depositors 23 Mar 2016
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5024041

Posted by jack2 > 2016-03-07 19:49 | Report Abuse

Hope to see you guys there to support the QA
Those that cant attend, you shud submit your proxy form before deadline

Posted by callme777 > 2016-03-07 20:00 | Report Abuse

Support or not support depends on the stock price from now till EGM. Above rm0.50 than support!!!

Posted by Kareemabduljabbar > 2016-03-07 21:17 | Report Abuse

No price support no deal. Has to be between 55-60 to ensure a successful QA. Else everyone will sell and deal will be dead. I understand quite a few major shareholders already agree vote No by proxy. Nearly 15 %. I was told promoters still sleeping. Ha ha. Easy money come, easy money go. So far, not a single major shareholder has come out publicly and said they support this deal. Ha ha. Mati lah.

Posted by ab55 > 2016-03-08 07:14 | Report Abuse

Two categories of buyers to support the QA, for ikan bilis or speculators depends on stock price before EGM but for big sharks or investors depends on the potential of the investments

Posted by jack2 > 2016-03-08 07:48 | Report Abuse

brent soaring usd40.70
oh wow

next 45/50

Posted by jack2 > 2016-03-08 07:49 | Report Abuse

my estimate only a minority group looking for short term gain are against the QA, probably less than 5%

Posted by jack2 > 2016-03-08 08:21 | Report Abuse

oil rout over, OPEC aims for US$50 anchor, says PIRA's Ross


(March 7): Major OPEC producers are privately starting to talk about a new oil price equilibrium of US$50 a barrel, adding to signs that the market's long, deep rout is officially over, says one of the industry's leading prognosticators.

Gary Ross, the founder, executive chairman and chief oil soothsayer at New York-based consultancy PIRA, told clients 2-1/2 weeks ago that he reckoned the "lows are in" for crude, which was then about US$30 a barrel. U.S. futures have rallied since then to close at nearly US$36 on Friday, with a handful of analysts also cautiously calling a bottom.

In an interview with Reuters, Ross said oil should recover to US$50 a barrel by the end of the year, potentially aided by eventual supply cuts from leading producers among the Organization of the Petroleum Exporting Countries (OPEC).

"They want US$50 oil, this is going to become the new anchor for global oil prices," said Ross, one of the industry's most respected forecasters for his bold price predictions and decades-long history of consulting with OPEC members.

Posted by Kareemabduljabbar > 2016-03-08 08:39 | Report Abuse

jack2 pls explain how you get < 5 % dissenting shareholders, thank you.

Posted by Kareemabduljabbar > 2016-03-08 09:07 | Report Abuse

http://www.thestar.com.my/business/business-news/2016/03/08/shareholder-hurdle-for-spacs/

Posted by cglim > 2016-03-08 09:22 | Report Abuse

cann I ask ? - how many percent must vote during the egm this march before the QA is approved