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3/11 update: Hibiscus Petroleum Bhd’s unit SEA Hibiscus Sdn Bhd has completed the St Joseph Minor Sands Infill and Major Sands Redevelopment Infill Drilling Campaign in September under the 2011 North Sabah Enhanced Oil Recovery Production Sharing Contract (North Sabah PSC). This now added 2,200 barrels per day of crude oil production, as well as some 4.0m stock tank barrels of incremental.
wow...long waiting for you to come down 0.58.....accumulating my stock....will buy more if go down to 0.55
Hibiscus said it remains committed to growing its business in its areas of geographic focus, particularly in Southeast Asia.
In light of this, the O&G services firm has proposed the issuance of up to two billion units of convertible redeemable preference shares (CRPS) at an issue price of RM1 apiece, which is based on the most common denominator.
The CRPS, it said, may be placed out in single or multiple tranches.
“The conversion price for the first tranche of the CRPS has been fixed at 66 se
The CRPS private placement was announced on the 2nd of August, 2012, with the company proposing an issuance of up to 210 m new CRPS shares of 1 sen each, at an issue price of RM1 per share through a private placement exercise without prospectus.
If convertible, you are going to enlarge the no. of shares which will dilute the earnings per share. If Redeemable, how are you going to redeem? No explanation is given!
收购的资产需符合以下条件
(i) Payback period(1): ≤5 years
(ii) Internal rate of return (“IRR”)(2): ≥12%
(iii) Geographical location of the assets: South East Asia
(iv) Maximum number of Acquisitions: 3
For illustrative purposes, assuming full subscription of the CRPS and based on the conversion
price of RM0.66, the Company will allot and issue 3,030,303,030 new Hibiscus Shares upon
full conversion of the CRPS. The 3,030,303,030 new Hibiscus Shares to be allotted and issued
represent:
Ah Choon Wong, 根据这段conversions price应该是conversions ratio
They may have to boost the share price up to attract potential investor. Not every qualified investor who is interested will be approved the application.
Hibiscus Petroleum Bhd’s unit SEA Hibiscus Sdn Bhd has completed the St Joseph Minor Sands Infill and Major Sands Redevelopment Infill Drilling Campaign in September under the 2011 North Sabah Enhanced Oil Recovery Production Sharing Contract (North Sabah PSC). This now added 2,200 barrels per day of crude oil production, as well as some 4.0m stock tank barrels of incremental life of field gross reserves. (The Edge)
Bursa’s Energy Index, which tracks share prices of oil and gas (O&G)-related companies, rose over 5% in morning trade today after crude oil prices climbed some 4% overnight as encouraging Covid-19 vaccine trial results generated expectations of a fuel-demand recovery.
