Posted by sudahkena > 2016-04-18 16:50 | Report Abuse

relax.. we all small bilis... will not effect voting percentage ... even hold e few million unit.. the main concern is big investor / cornerstone. .

at the current price.. yes we can get guarantee profit but if pass.. there are more opportunity to up or intact news investor.... especially for wa to gain more than 50% I think...


share price will adjust at exdate for 8cent ...but if pass..maybe share price will up... if today already up...better sell and no need to egm...

risk vs reward.....

Posted by sudahkena > 2016-04-18 16:54 | Report Abuse

meanwhile... who is sellling at discount since it guarantee 0.485??? cs merajuk??

Posted by coolinvestor > 2016-04-18 17:13 | Report Abuse

mr.tan

so i guess there are really 2 choices now:

1) vote no and get back 48.5sens 9% yield(guaranteed!!)

2) vote yes and assuming buy now at 44.5 and get back 8sens from capital repayment...NOT yield but STILL CASH of 18%

I still CANT see the logic in going for option 1.

honestly with option 2, u still have a chance.

with 8sens cashback with reduced shareholders equity(share price drops to 37sens) there are always chances of share price rising from 37sens. this is not guaranteed however. at least u still OWN the share n may get dividends in the future. dun like then sell lo.

thats why in investing all are subjective. i honestly doubt many investors care WHERE their cashback comes from. cash is cash. you receive it. that is good. There are also companies borrowing to give dividends....how do u relate to that? petronas dip into their shareholders equity to pay extra to our Government becoz their earnings are not enuf. how?

until of course shit happens

Posted by T1T4N > 2016-04-18 18:15 | Report Abuse

The difference.

Yield, u invest RM100, you get back RM109 (guaranteed)

Capital repayment, you invest RM100, you get back RM18 and your share left RM82(open to risk).

Dividend is another thing derived from earnings.
You invest RM100 as shareholder, company earn rm10, they pay you rm3 as dividend. Share price adjusted to via market force.
*Petronas case is unique as it is highly political to borrow money for paying dividend. Usually 99% of the times no earnings, no dividend.

Posted by coolinvestor > 2016-04-18 18:47 | Report Abuse

Ah now that is a good explanation. I have learnt somthing new today.

Thx mr.tan

Btw what do u recommend?

Posted by sudahkena > 2016-04-18 18:53 | Report Abuse

received notice of egm n corcular to shareholders today

Posted by sudahkena > 2016-04-19 00:08 | Report Abuse

oil up

Posted by pandakun99 > 2016-04-19 08:40 | Report Abuse

dont listen to crap by bomoh Husni (bro H)

Posted by pandakun99 > 2016-04-19 10:42 | Report Abuse

down already to 0.44

Posted by pandakun99 > 2016-04-19 10:42 | Report Abuse

talk rubbish alot here

Posted by Brutus121 > 2016-04-19 11:01 | Report Abuse

Danger! There's No Support....Price Dropping.

Posted by callme777 > 2016-04-19 11:34 | Report Abuse

One week before the EGM and price is lower.

Posted by Cheecheongfan > 2016-04-19 11:35 | Report Abuse

Buy Pecca!!,

Posted by ruslimz > 2016-04-19 11:42 | Report Abuse

let see how long these stubborn nuts can survive.....for sure not after 26.....

Posted by ruslimz > 2016-04-19 11:53 | Report Abuse

bought at 44sen.....GTD que to sell at 45.5 sen...

Posted by sudahkena > 2016-04-19 12:01 | Report Abuse

good...more down.plz... more discounts

Posted by ruslimz > 2016-04-19 12:06 | Report Abuse

already discount maaa....

Posted by ab55 > 2016-04-19 12:39 | Report Abuse

Good sign, price lower low volumn qa sure pass

Posted by Dogwithabone > 2016-04-19 15:08 | Report Abuse

I dont feel confident about this. Looks like the Promoter doesn't understand how the market works. He seems to think that he has a damn good asset (his point of view) therefore everyone will vote in favour of the QA. Brother, if the share price doesn't start to show some confidence, you can kiss your QA goodbye.

Posted by cruise > 2016-04-19 15:17 | Report Abuse

holy cow
brent oil is surging usd43.74
higher than bfore DOHA meeting

Posted by cruise > 2016-04-19 15:19 | Report Abuse

nobody will goring the stock when oil price is low
when price is above usd50, I think the syndicate and fund will goring
for the time being, don't harap ya

Posted by sonapetroleum > 2016-04-19 15:57 | Report Abuse

Hi @Kareemabduljabbar,

W.r.t. your statement on the capital repayment, please note that as in our announcement dated 13 April 2016 (http://www.bursamalaysia.com/market/listed-companies/company-announcements/5057809) the steps required for the capital repayment to be formalized are as follows (with comments):

Step 1: The completion of the Proposed Acquisition
-- Comment: If the Proposed Acquisition is not approved and completed, there will be no capital repayment.

Step 2: The formal approval of the Board
-- Comment: The Board has already been briefed and is supportive.

Step 3: Approval of the SC for the proposed exemption under Paragraph 16.1 of Practice Note 9 of the Malaysian Code on Take-Overs and Mergers to Platinum Autumn from the obligation to undertake a mandatory take-over offer on Sona Petroleum (“Proposed Exemption”), if required.
-- Comment: This application is only in the event that the conversion of Management’s warrants increases Management shareholdings to above 33%, an application will be made to SC to exempt Platinum Autumn from having to undertake a mandatory take-over offer. This exemption is provided for under Practice Note 9 of the Code

Step 4: The approval of shareholders of Sona Petroleum at an EGM to be convened for the Proposed Revised Capital Repayment and if required, the Proposed Exemption, as soon as practicable after the approval of the Proposed Acquisition
-- Comment: As required by the Companies Act, a separate circular will be issued and a further EGM will be convened for this purpose.

Step 5: Approval by the High Court
-- Comment: Application for capital reduction

The financing needed for the capital repayment is in place.

Thank you.

Regards,
Sona Petroleum

Posted by sonapetroleum > 2016-04-19 15:58 | Report Abuse

Hi @T1T4N (W.r.t. your explanation to @coolinvestor:) and @Wong Heam Kiew,

As explained in our announcement, the capital repayment will be funded from internal funds (depending on amount of share repurchase) and/or conversion of warrants held by Management. The net assets of 38 sen per share is a pro forma number and for the purpose of the circular, is calculated based on the historical audited balance sheet as at 30th September 2015

As illustrated in Section 2.5.2 of our announcement, the pro forma net assets per share will reduce from 38 to 31 sen if there is no share repurchase and from 35 to 30 sen if there is 25% share repurchase. The reduction is due to the repayment of 8 sen to shareholders.

However, note that the pro forma net asset is based on our historical balance sheet. The actual net assets of Sona may change with time depending on how the company is performing.

When Sona takes over the asset, which is a production asset, the asset is expected to generate profitability which will contribute to our net assets. In addition, it is the intention of Sona to reduce operating costs and implement Infill Development to increase production which should increase profits and the net assets further. An increase in oil prices going forward, which is the consensus of most analysts, is also expected to have the same effect.

In summary shareholders will receive 8 sen per share and at the same time stand to enjoy possible upsides to the share value should the company grow in value and profitability.

Our share price is dependent not only on fundamentals such as our financial performance and position, but also other factors such as market sentiment and investors’ attitude and expectations.

Whilst we do not have control over the external factors, we believe the company’s fundamentals and performance will be strong because of the following:

1. The asset is a producing asset and is generating cash and profitability
2. Plans are in place to reduce operating cost and to implement infill development to increase current total production by about 35% and both of these will further increase cash generation
and profitability
3. There is general consensus among analysts that oil prices will increase going forward
4. There is capacity to further expand the assets of the company as the balance sheet with no gearing has capacity for borrowings and there is the conversion of warrants which will make available to the company considerable amount of cash.

Our view is that historical net assets or book value may not be best valuation methodology for O&G companies. An O&G company can trade above or below its book value and the price-to-book ratio for O&G companies are wide-ranging.

It is our view that the key performance and value drivers of O&G companies are in its production, reserves and how fast new reserves can be found to replenish the depletion (reserve-replacement ratio*).

In the case of Sona, Stag is producing about 4,000 barrels of oil a day, with 13.3 MMstb and 17.2 MMstb of 1P and 2P reserves respectively. Stag will also have opportunities to achieve a replacement ratio greater than 100% through development of Stag’s 2C contingent resources (estimated by GCA at 4.9 MMbo) and progressing the Hart exploratory prospect (estimated by GCA at 6.4 MMbo Prospective Resources). There is also the likelihood that as we progress these developments, the contingent and prospective resources may increase.

In addition, supported by our strong balance sheet and fund-raising capabilities through borrowings, conversion of warrants or equity, there can be further growth in our proven reserves through future acquisitions / expansion of other O&G assets.

Note:
* The reserve-replacement ratio measures the amount of proved reserves added to a company's reserve base during the year relative to the amount of oil and gas produced. During stable demand condition environments, a company's reserve replacement ratio must be at least 100% for the company to stay in business long-term; otherwise, it will eventually run out of oil. The ratio of a top performing company will be greater than 100%.

Thank you.

Regards,
Sona Petroleum

Posted by callme777 > 2016-04-19 15:58 | Report Abuse

Whatever stock you buy today is not entitled for voting. Last day for your shares to be entitled is 15th april

Posted by Dogwithabone > 2016-04-19 16:02 | Report Abuse

The logic is simple: buy up to 30 million shares, the price will go up to abt 48c. it will cost more or less RM15mil. Most shareholders will vote in favour, as the price is higher than the 475c they will get if the QA is not approved plus the 18 mth (at least) wait. If the QA is approved promoters shares will be worth in excess of RM120 mil. A Primary 1 kid can do the math for you. And oil prices are not tanking, are they?

Posted by coolinvestor > 2016-04-19 16:09 | Report Abuse

no wonder the shares are quite quiet for a while now

Posted by hankc > 2016-04-19 16:11 | Report Abuse

Oil not going back to sub 30 that's for sure.

Posted by coolinvestor > 2016-04-19 16:15 | Report Abuse

well buying the shares may not get you a vote ...but still entitled to the 8sen cashback...assuming pass QA.

Posted by T1T4N > 2016-04-19 16:52 | Report Abuse

@sonapetroleum,

I appreciate your long writeup with technical explanations.

Let's talk about market sentiment, human emotions.

With 44sen on mother share now,
Do you think majority shareholders will want a GUARANTEED 48.5sen (10% gain yield)?
Or a Potential upside (which also opens to potential DOWNSIDE) after 8sen capital reduction?

Posted by speakup > 2016-04-19 16:54 | Report Abuse

sokong u TLTAN!

Posted by callme777 > 2016-04-19 16:56 | Report Abuse

Exactly to the point TLTAN! Don't let your hard work go down the drain Sona ! Get your directors to buy now!

Posted by lly316 > 2016-04-19 16:57 | Report Abuse

today mother volume is so much more than son! And today's volume is consider quite high

Posted by coolinvestor > 2016-04-19 17:01 | Report Abuse

mr.tan

with the markets, everyone can talk about heaven n earth n back to hell with so many factors influencing the markets.

and you are just being deliberate on just 1 particular subject.

this is of course entirely your opinion but please also be impartial n fair because surely the probability of the share being on the upside is also possible after approval of the QA?

your human emotions is just ONE factor but its NOT the only factor. there are also those who are not easily emotional and are opportunistic.

anything can happen. cheers

Posted by cruise > 2016-04-19 17:20 | Report Abuse

i wonder why people are investing in shares esp spac and talking about guaranteed yield, lol

might as well put in FD, reits.... all those very safe stocks

Posted by T1T4N > 2016-04-19 17:25 | Report Abuse

@coolinvestor,

I'm just a normal human who have access to other 1000+ listed counters in Bursa Malaysia, from 1sen to several Ten Ringgits. (ONLINE TRADING PLATFORM)

I respect the management on all the hardwork pour into the company for this 3 years. No doubt about it. Dato Sri, Tan Sri, Professionals, Experts, you guys deserved all the fame, no problem.

But to me as a normal shareholder, what I see most is my own pocket, profit of my shares.
That's all.

Everything BOILS DOWN TO this:
"10% guarantee yield" vs "Potential upside after capital reduction of 8sen"

Your choice. Good luck and see you all at AGM Grand Hyatt.

Posted by sonapetroleum > 2016-04-19 17:33 | Report Abuse

Dear all, sharing more information on the Stag Oilfield as reported in The Edge.

http://www.sonapetroleum.com/download/april2016/11%20April%202016,%20The%20Edge%20Financial%20Daily,%20Home%20Business,%20pg%206.jpg

Thank you for your continued support.

Regards,
Sona Petroleum

Posted by ruslimz > 2016-04-19 18:50 | Report Abuse

NO VOTE.......I will go for the 10%......

Posted by coolinvestor > 2016-04-19 18:57 | Report Abuse

Actually those who vote no may actually buy back again shld the qa passes n the oil price going up. There's no really right or wrong. Just how u decide at the moment in time. Lol

Posted by cruise > 2016-04-19 19:50 | Report Abuse

those who groaning and moaning everyday about share price and with intention to vote No

Pls check your total shareholding whether substantial enough to put the QA in jeopardy, whether individually or in totallity added to 2%??, if the answer is NO, pls just keep quiet and submit your repurchase form la

During last month EGM, one elderly couple who sat beside me were making a little noises holding their Repurchase Forms and their shares indicated in their forms were 3,000 each.

Its the total shares that counts and not quantity of Repurchase Forms. So Siva Kumar & his friends with 20% stake in favour does count ya

Posted by sudahkena > 2016-04-19 19:55 | Report Abuse

some people only have 500unit shares in direct account so he can go to egm... but at nominees acc.. have more 2 mill shares.... of course bank will attend as proxy

Posted by sudahkena > 2016-04-19 19:57 | Report Abuse

with 0.485 guarantee pay back.. wonder there are people sell at discount. ..

some one know qa fail or big investor try to find new friends today to vote no with selling at discount? ?

Posted by sudahkena > 2016-04-19 19:59 | Report Abuse

consider the today oil price, volume and share price.... it hard to figure out..why sell ???

Posted by Kareemabduljabbar > 2016-04-19 20:07 | Report Abuse

Siapa ni sivabalan ? Yang main creador goreng saham dulu ?

Posted by ab55 > 2016-04-19 21:20 | Report Abuse

Bising saja lebih dalam kosong.....

Posted by cruise > 2016-04-20 07:44 | Report Abuse

brent price usd44 & going up
there is future for sona & those with patience

Posted by dogwithabone > 2016-04-20 08:54 | Report Abuse

If the promoter, who is the one who negotiated the deal and is expected to run the company after the QA, doesn't see it fit to buy Sona at this prices, why should the public buy?! He can go on and on about the merits of the asset but ultimately, you have to put your money where your mouth is. Stop giving us lip service, it is getting really monotonous!!

Posted by vjean > 2016-04-20 09:21 | Report Abuse

I plan like to attend personally to the EGM at Grand Hyatt to give my utmost support and vote Yes. This is my first experience to attend EGM, may I know, do i need to do any preparation such as bring any documents? So i still need to post the Form of Proxy to state my vote? what is the procedure?or I just attend, register my name and give my vote and then attend the meeting? Please guide.

Posted by callme777 > 2016-04-20 09:26 | Report Abuse

If you notice Sona management has been trying to avoid the issue of supporting their share in this forum. I don't think they know how the stock market works: confidence

Posted by dogwithabone > 2016-04-20 09:38 | Report Abuse

callme777. That's exactly my point. Would you invest your hard earned money in a PLC where the owner/management doesn't understand the requirements of the investing public? It doesn't mean that you are not a good businessman or that you are not smart, it just means that you need to learn what the market demands are. Otherwise just remain a sendirian berhad.

Posted by callme777 > 2016-04-20 10:13 | Report Abuse

Maybe they found a private investor and they want to do this deal on their own... Anything is possible