WANT TO BE A SPARTAN?
Click here https://www.telegram.me/kimstock for more details.
Date : 15 DEC 2017
----------------------------------------------------------
THE STOCK & TARGET
----------------------------------------------------------
Current Price : 0.83 cts
Stock : Hibiscus Petroleum Berhad - HIBISCS
Target : HIBISCS (1st) 0.98 cts & (2nd) RM1.30 (FY18)
This stock has been alerted and played since at 0.40 cts till now. You may refer screenshot below :
----------------------------------------------------------
WHAT KIM SAY?
----------------------------------------------------------
1. " Next QR will show us the real HIBS..so invest now.." - Kim Spartan
2. " The Anasuria Cluster may help them again stay in the black for the next quarters.." - Kim Spartan
3. "
Very intresting for me what the chairman said is the best thing to do
is to ensure that the company is healthy, and demonstrate growth for the
benefit of the shareholders... I like this sincerity.." - Kim Spartan
----------------------------------------------------------
THE PROFILE
----------------------------------------------------------
Hibiscus Petroleum Bhd
is a Malaysian oil and gas E&P company which developes small oil
and gas fields in the South Asia, South East Asia and Oceania regions by
Upstream oil and gas activities consisting of exploration, development
and production of oil and gas resources. Hibiscus Petroleum Berhad was
incorporated in Malaysia under the Act as a private limited company on 5
December 2007 under the name of Hibiscus Petroleum Sdn Bhd and
converted into a public company under its current name on 20 December
2010.
----------------------------------------------------------
THE KEYNOTE
----------------------------------------------------------
FEB 2017HIBISCS - Hibiscus Petroleum Bhd reported a net profit of RM10.68 million for the second quarter ended Dec 31, 2016 (2QFY17), versus a net loss of RM164.17 million a year earlier, on contribution from the North Sea's Anasuria Cluster. Hibiscus said revenue spiked to RM62.82 million, from RM955,000. Hibiscus' website indicates the firm and Ping Petroleum Ltd are joint operators of Anasuria.
MAY 2017
HIBISCS - Hibiscus
Petroleum Bhd net profit for the third quarter ended March 31, 2017
fell to RM6.49 million from RM80.5 million a year earlier. Hibiscus said
revenue for the quarter rose to RM69.24 million from RM31.78 million a
year earlier. Earnings per share was 0.45 sen compared to 7.32 sen a
year earlier. For the nine months ended March 31, Hibiscus posted net
profit RM97.44 million from net loss RM78.91 million a year earlier.
Revenue for the period jumped to RM186.81 million from RM32.98 million
in 2016.
HIBISCS - Petroliam
Nasional Bhd (Petronas) has given the greenlight to Royal Dutch Shell
PLC for the sale of the latter's 50% stake in the 2011 North Sabah
enhanced oil recovery production sharing contract (PSC) to Hibiscus
Petroleum Bhd's indirect unit SEA Hibiscus Sdn Bhd. Hibiscus announced
last October that it had reached an agreement with Shell for the US$25
million or RM104.63 million stake buy, subject to Petronas' approval.
HIBISCS - Hibiscus
Petroleum Bhd proposed a private placement of up to 144.38 million
shares or 10% of its existing issued share capital to raise up to
RM64.97 million, mainly for working capital purposes.Hibiscus said it
planned to spend RM64.67 million for expenses like business development,
payment to trade and other payables, staff costs, repayment of
borrowings (in future, if any), utilities and other operating expenses,
and potential expansion and capital expenditure (if any).
JUL 2017
HIBISCS - Hibiscus
Petroleum Bhd, which proposed in May a private placement of up to 10%
of its share capital to raise some RM65 million, said it is considering
and pursuing alternative sources of funding from financial institutions
to meet its needs in the near future. These are being planned for
implementation in the near future. The proposed private placement is an
additional effort by the group to maintain a satisfactory buffer, over
and above the group's recurring cash flows, to meet near-term payments
and obligations, while the alternative sources of funding are being
considered and pursued.
AUG 2017
HIBISCS -
Hibiscus Petroleum Bhd’s net profit dropped 54% year-on-year to RM8.65
million in the fourth quarter ended June 30, 2017 (4QFY17) from RM18.95
million, despite a 53% spike in revenue to RM74.47 million from RM48.72
million. Its financial statements show higher taxation of RM19.05
million in 4QFY17, compared with RM4.29 million a year earlier. Pre-tax
profit jumped 65% to RM27.7 million from RM16.79 million, partly because
the previous quarter recognised negative goodwill of RM228.8 million
from its Anasuria Cluster acquisition.
SEP 2017
HIBISCS - Hibiscus
Petroleum Bhd has been granted major project status for the West
Seahorse Project in Australia. Australian Manufacturing, an online
portal specialising in manufacturing-related news, reported on Sept 8
that Australian Minister for Industry, Innovation and Science Arthur
Sinodinos confirmed that the Federal Government had renewed its Major
Project Status to the West Seahorse Project which is located in the
Gippsland Basin, off the coast of Victoria. The project is undertaken by
Hibiscus Petroleum unit Carnarvon Hibiscus Pty Ltd.
HIBISCS - Hibiscus
Petroleum led penny oil and gas stocks higher in active trade on
Wednesday, riding on fresh corporate news and the oil price rally, which
was near its largest third-quarter gain in 13 years.
NOV 2017
HIBISCS -
Hibiscus hopes to increase oil production at Anasuria Cluster, its
primary asset in the North Sea off the United Kingdom, by up to 56% over
the next two years, to 5,000 barrels per day (bbls/day) from 3,204
bbls/day in its financial year ended June 30, 2017 (FY17). This was on
the back of the recently completed project enhancements at three wells
at the Anasuria Cluster of oil and gas fields, designed to improve
short- and medium-term performance to compensate for the expected
production decline of such a mature asset, while seeking to improve
health and safety aspects.
HIBISCS - As
a result of lower tax credit recognised, Hibiscus Petroleum Bhd’s net
profit in the first quarter ended Sept 30, 2017 (1QFY18) was down 86.6%
year-on-year to RM10.78 million, from RM80.28 million year-on-year
(y-o-y). Hibiscus received a tax credit of RM1.06 million, as compared
to RM72.8 million received in the corresponding quarter last year.
HIBISCS - Hibiscus
Petroleum Bhdhas received consent from Petronas Carigali Sdn Bhd to
acquire Royal Dutch Shell's 50% participating interest in the 2011 North
Sabah enhanced oil recovery (EOR) production sharing contract (PSC).
Currently, the PSC is operated by Sabah Shell Petroleum Co Ltd, in
partnership with Shell Sabah Selatan Sdn Bhd and Petronas Carigali. The
Shell units each own 25% stake in the contract. Under the terms of a
conditional agreement signed in October last year, Hibiscus' indirect
unit SEA Hibiscus Sdn Bhd would buy the 50% stake from Shell for
US$25mil and assume the role of operator of the PSC.
----------------------------------------------------------
THE FINANCIAL
----------------------------------------------------------
----------------------------------------------------------
THE PROJECT PORTFOLIO
----------------------------------------------------------
UNITED KINGDOM
Asset Name: Anasuria Cluster, comprising:
-
Cook (38.6%) Producing Field
-
Teal (100%) Producing Field
-
Teal South (100%) Producing Field
-
Guillemot A (100%) Producing Field
-
Anasuria FPSO (100%) FPSO
Effective Interest:50% of Anasuria Cluster (Hibiscus is Joint Operator)
Asset Type: Producing assets with development and exploration potential based around the Anasuria FPSO
Location: ~ 175 km east of Aberdeen, UK North Sea
Water depth: ~ 94 m
Operator: Anasuria Operating Company Limited (JOC) Note 1
Partner: Ping Petroleum Limited
Note 1:
Joint Operating Company with equal ownership between Anasuria Hibiscus
UK Limited (a wholly-owned subsidiary of Hibiscus Petroleum) and Ping
Petroleum Limited.
The Anasuria Cluster comes with stable
positive cash flow from current production with in-field future
development opportunities and exploration upside. It represents an
attractive, geographically focused package of operated interests in
producing fields and associated infrastructure. The assets have a proven
and producing resource base which provides a platform for further
development. A number of incremental development and exploration
opportunities exist within the licence areas which are expected to
generate significant incremental value in the medium term.
AUSTRALIA
Asset Name: VIC/L31 (West Seahorse Field)
Effective Interest: 100% (Hibiscus is Concession operator)
Acquisition Date: January 2013
Licence type: Production License
Reserves: 8.0 MMbbls of 2P + 2C Oil Reserves
Asset Name: VIC/P57
Effective Interest: 78.3% (Hibiscus is Concession Operator)
Acquisition Date: January 2013
Licence Type: Exploration Permit
Water Depth/Size: Up to 150m/460km2
Hibiscus Petroleum holds substantial
equity interest and is the Operator of two licences – VIC/L31 and
VIC/P57 – in Australia via our wholly-owned subsidiary, Carnarvon
Hibiscus Pty Ltd (CHPL). Both licences are located offshore, in shallow
water, in the Gippsland Basin and are core assets to the company. As the
Operator, we have a high level of operational and financial control and
we are responsible for the entire planning and execution of all
activities under these licences.
The VIC/L31 production licence includes
the West Seahorse discovered field, whilst the VIC/P57 exploration
licence comprises several geologically exciting prospects.
The development of the West Seahorse
field has been a key objective of our company due to the near term
visibility on the development and subsequently, production of this
field. In the current low and volatile oil price environment, the
Company has deferred the Final Investment Decision for the West Seahorse
development project. As for the VIC/P57 permit, in accordance with our
obligations under the terms of the permit, CHPL has recently drilled an
exploration well in the Sea Lion prospect in the second quarter of 2015,
demonstrating our ability to execute drilling operations offshore
Australia whilst maintaining a good HSE track record.
OTHER ASSETS
Other assets under the Hibiscus
Petroleum Group are held via its 35% owned joint venture company, Lime
Petroleum Plc. These assets are located in Norway and the Middle East
which are currently in the exploration stage.
Given the extended period of low oil
prices, the Company intends to continue its review of investments in
licences that are primarily exploration weighted against a new set of
investment criteria. In the current volatile price environment, the
Company’s agenda is to take secondary positions in exploration assets
whilst the industry struggles to define its short term outlook. Assets
which have a clearly defined path to near term production will however
be prioritised.
Regards,
Kim Stockwatch
Telegram : https://www.telegram.me/kimstock (Real live time trading)
Or Join Elite Spartan Group Traders (SGT)
