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[HIBISCUS PETROLEUM BHD:2021年的任务是每天平均生产20,000桶石油(“bopd”)和获得1亿桶石油的净已探明和可能储量/权利,每桶的OPEX(Anasuria资产的关键绩效指标)已经下降]

北沙巴:
扣除非现金性质项目后,部门PBT为7,600万令吉。息税折旧摊销前利润率(来自经营业务,在省略前季度的负商誉后)从前季度的45.5%(不包括负商誉的影响,为9,380万令吉)改善至当前季度的52.5%。这主要是由于本季度平均实现价格较高和库存估值正常化所致。

Anasuria:
与前季度相比,Anasuria部门的EBITDA和PBT分别达到1.141亿令吉和9,560万令吉,而前季度为EBITDA为520万令吉,LBT为1230万令吉。

3D油,VIC / L31和VIC / P57:
在本季度,该部门记录的PAT为RM30万,而前一季度的LAT为90万令吉。这主要归因于大红花石油于本季度对其联营公司3D Oil的投资减值拨回。

投资控股和集团活动:
在本季度,该部门记录的LAT为680万令吉。

截至2018年9月30日,大红花石油的非流动资产为16.467亿令吉,而2018年6月30日则为15.715亿令吉。该增加主要由于本季度Anasuria集群资本支出计划的投资额增加所致。

流动资产由2018年6月30日的4.025亿令吉增加至2018年9月30日的5.70亿令吉。现金及银行结余增加1.662亿令吉,主要是由于在本季度收集了Anasuria及北沙巴其取得的原油所得款项。此外,北沙巴的其他与业务有关的应收款增加约4,030万令吉。本季度总股本增加1.191亿令吉,主要是由于Anasuria Cluster和North Sabah资产产生的净收益。

前景:
总之,他们2021年的任务是:
+每天平均生产20,000桶石油(“bopd”);和,
+获得1亿桶石油的净已探明和可能储量/权利。

截至2018年9月30日,这公司的间接全资子公司Anasuria Hibiscus UK已参与Anasuria资产的联合经营两年多。与前几个季度相比,本季度的平均正常运行时间和平均日产油率保持在合理水平。由于持续管理成本,每桶的OPEX(Anasuria资产的关键绩效指标)已经下降。

于2018年6月4日开始在Guillemot-A油田(“P2-ST”)的GUA-P2产油井钻探侧轨道。于2018年9月3日,该集团宣布P2-ST油井方案已进行完成,在清理和回流阶段,该井实现了Anasuria FPSO的稳定总生产流量4,750 bopd(每天2,375桶石油,净值为集团)。

该油井的Estimated Ultimate Recovery(“EUR”)为150万桶石油(75万桶,净值为集团),其中截至2018年10月底已生产总量为194,705桶石油(97,353桶,净值为集团)。根据2018年11月进行的试井,GUA-P2 ST井能够以每天3,697桶石油的总产量自然流动(每天净油量1,849桶,净值对该集团而言),含水量约为17%。他们目前没有以最大速度生产这种井,以防止早期水锥进的影响,但总体而言,GUA-P2ST的产量预计将在未来几个季度对公司产生积极影响。

P2-ST项目代表了公司在Anasuria集群中的第一个主要资本支出计划,预计项目完成后的总估计成本为9590万令吉。值得注意的是,在英国,由于这笔资本支出,Anasuria Hibiscus UK有权节省总计4440万令吉(占该项目资本支出的46.25%)的总税收。

Anasuria Hibiscus UK及其在Cook field的合作伙伴于2018年5月批准了Cook Water Injection(“Cook WI”)项目。 Cook WI项目正在按计划进行,预计2018年该项目的预计总资本承诺约为1,140万令吉,2019年约为5020万令吉。

于二零一八年十月九日,大红花石油宣布其间接全资附属公司Anasuria Hibiscus UK与Caldera(「卖方」)订立买卖协议,以购买代价3750万美元收购Blocks的50%权益。根据AGR TRACS国际有限公司的独立报告,区块中的gross contingent oil resources(“2C石油资源”)估计为6,000万桶石油(向Anasuria Hibiscus UK提供3000万桶石油净值)。 2018年10月16日,在获得所有重大监管机构批准后,该交易已完成。

预计将在下一个财政季度获得South Furious 30 Infill Drilling项目Milestone Review-4的批准。 PETRONAS于2018年8月通过Milestone Review-4成熟过程批准了St Joseph Infill钻井项目,导致2018年11月提交了油田开发计划。该项目需要在St Joseph Jacket-A(“SJJT-A”)平台上钻三个填料生产井。从2.8 MMstb的EUR,该项目在产量达到峰值时,预计每天将增加约2,600桶石油。该项目的总资本承诺预计约为1.425亿令吉,将与其合资伙伴平分。钻探预计将于2019年4月开始,预计2019年6月首次开采石油。

今年早些时候批准的Cook WI项目有望在2019年实施。在北沙巴,圣约瑟夫填充钻探项目得到了PETRONAS在Milestone-Review 4的批准,目前正在2019年执行,而PETRONAS在Milestone-Review 4上批准SF30 Infill钻井项目正在提交中。
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James Ng Stock Pick Performance:
Since Recommended Return:

1) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.975 in 4 months 27 days, total return is 22.6%

2) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.82 in 3 months 16 day, total return is 14.7%

3) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.13 in 1 month 14 days, total return is 12.7%

我希望将我的策略分享给读者,希望他们在阅读后能够表现出色。我正在使用基本面分析(Fundamental Analysis):

预计公司每年的增长率必须> 14%

我想说服读者学习基本面分析FA以便能从股市赚钱。

我为想从马来西亚股票市场赚钱的读者提供STOCK PICK服务。想订阅我的邮件以从股票市场获取良好回报的人,可以通过 jamesngshare@gmail.com 或我的FB页面 https://web.facebook.com/jamesshareinvest/ 与我联系

【看懂年报和季报】课程
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日期:12月16日星期日
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日期:12月23日星期日
地点:Kuching

有兴趣的朋友,可以电邮或PM FB page联络我
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最终决定永远是你的,谢谢。

James Ng
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[HIBISCUS PETROLEUM BHD: 2021 mission entails the achievement of average daily production of 20,000 bbls of oil per day (“bopd”) and the securing of net proven and probable reserves/entitlement of 100 million bbls of oil, OPEX per boe (a key performance indicator of the Anasuria asset) has decreased]

North Sabah:
Segment PBT was RM76.0 million after deducting the non-cash in nature items. EBITDA margin (from operations, after omitting negative goodwill in the Preceding Quarter) improved to 52.5% in the Current Quarter from 45.5% (excluding impact of negative goodwill of RM93.8 million) in the Preceding Quarter. This was mainly driven by the higher average realised price and normalisation of inventory valuation in the Current Quarter.

Anasuria:
The Anasuria segment achieved an EBITDA and a PBT of RM114.1 million and RM95.6 million respectively in the Current Quarter as compared to that achieved in the Preceding Quarter, i.e. EBITDA of RM5.2 million and LBT of RM12.3 million.

3D Oil, VIC/L31 & VIC/P57:
During the Current Quarter, the segment recorded a PAT of RM0.3 million as compared to a LAT of RM0.9 million in the Preceding Quarter. This was mainly attributed to the reversal of impairment in the Group’s investment in its associate, 3D Oil during the Current Quarter.

Investment holding and group activities:
During the Current Quarter, the segment recorded LAT of RM6.8 million.

The Group’s non-current assets amounted to RM1,646.7 million as at 30 September 2018 compared to RM1,571.5 million as at 30 June 2018. The increase was mainly driven by amounts invested into capital expenditure programs in the Anasuria Cluster during the Current Quarter.

Current assets increased from RM402.5 million as at 30 June 2018 to RM570.0 million as at 30 September 2018. Cash and bank balances increased by RM166.2 million, largely due to collection of proceeds from crude oil offtakes in both the Anasuria and North Sabah segments during the Current Quarter. In addition, other operational-related receivables in North Sabah increased by approximately RM40.3 million. The increase in total equity during the Current Quarter by RM119.1 million was mainly attributable to net earnings generated from both the Anasuria Cluster and North Sabah assets.

Prospects:
In summary, the delivery of their 2021 mission entails:
+ The achievement of average daily production of 20,000 bbls of oil per day (“bopd”); and,
+ The securing of net proven and probable reserves/entitlement of 100 million bbls of oil.

As of 30 September 2018, the Company’s indirect wholly-owned subsidiary, Anasuria Hibiscus UK has been involved in the joint operations of the Anasuria asset for over two years. Average uptime and average daily oil production rate have been maintained at reasonable levels during the Current Quarter when compared to the previous quarters. As a result of their continued management of costs, OPEX per boe, a key performance indicator of the Anasuria asset, has decreased.

The drilling of a side-track from the GUA-P2 oil producing well on the Guillemot-A field (“P2-ST”) commenced on 4 June 2018. On 3 September 2018, the Group announced that the P2-ST well programme had been completed and during the clean-up and flowback phase, the well achieved a stabilised gross production flow rate to the Anasuria FPSO of 4,750 bopd (2,375 bbls of oil per day, net to the Group).

The Estimated Ultimate Recovery (“EUR”) from this well is 1.5 million bbls of oil (0.75 million bbls, net to the Group) of which a gross volume of 194,705 bbls of oil (97,353 bbls, net to the Group) have been produced as at the end of October 2018. Based on a well test conducted in November 2018, the GUA-P2 ST well is able to flow naturally at a gross production rate of 3,697 bbls of oil per day (1,849 bbls of oil per day, net to the Group), with approximately a 17% water-cut. They are currently not producing this well at its maximum rate to prevent the effects of early water coning, but overall, production from GUA-P2ST is expected to contribute positively to the company in the coming quarters.

The P2-ST project represented the Company’s first major capital expenditure programme in the Anasuria Cluster and the total estimated cost on completion of the project is forecasted to be RM95.9 million. It is important to note that in the UK, Anasuria Hibiscus UK is entitled to a total tax savings of RM44.4 million (46.25% of capital expenditure on this project) as a result of this capital expenditure.

Anasuria Hibiscus UK together with its partners in the Cook field, had, in May 2018, sanctioned the Cook Water Injection (“Cook WI”) project. The Cook WI project is progressing according to schedule and their anticipated total capital commitment to this project is anticipated to be approximately RM11.4 million in 2018 and approximately RM50.2 million in 2019 respectively.

On 9 October 2018, the Group announced that its indirect wholly-owned subsidiary, Anasuria Hibiscus UK, had entered into an SPA with Caldera (“Seller”) to acquire a 50% interest in the Blocks for a purchase consideration of USD37.5 million. Based on an independent report by AGR TRACS International Limited, the gross contingent oil resources (“2C Oil Resources”) in the Blocks is estimated to be 60.0 million bbls of oil (30.0 million bbls of oil net to Anasuria Hibiscus UK). On 16 October 2018, subsequent to receiving all material regulatory approvals, this transaction was completed.

It is expected that approval for the South Furious 30 Infill Drilling project Milestone Review-4 will be obtained in the next financial quarter. PETRONAS had in August 2018 approved the St Joseph Infill Drilling project through the Milestone Review-4 maturation process, leading to the submission of Field Development Plan in November 2018. This project entails the drilling of 3 infill producers utilizing a triple splitter wellhead on the St Joseph Jacket-A (“SJJT-A”) platform. From an EUR of 2.8 MMstb, the project is expected to add approximately 2,600 bbl per day of oil at peak production. The total capital commitment to this project is anticipated to be approximately RM142.5 million, which will be shared equally with their joint venture partner. Drilling is expected to commence in April 2019 and first oil production expected in June 2019.

The Cook WI project which was sanctioned earlier this year is on track for execution in 2019. In North Sabah, the St Joseph Infill Drilling project was approved by PETRONAS at the Milestone-Review 4, and is currently on track for execution in 2019, whereas approval for the SF30 Infill Drilling project by PETRONAS at the Milestone-Review 4 is being submitted.
------------------------------------------------
James Ng Stock Pick Performance:
Since Recommended Return:

1) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.975 in 4 months 27 days, total return is 22.6%

2) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.82 in 3 months 16 day, total return is 14.7%

3) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.13 in 1 month 14 days, total return is 12.7%

I wish to share my strategy to readers, hope that they can perform well after reading this. I am using Fundamental Analysis:

the forecasted growth of a company must > 14% per year

I wish to convince readers to learn FA in order to make money from stock market.

I am providing STOCK PICK SERVICE for readers who want to make money from Malaysian stock market. Those who want to subscribe to my mailing list to achieve a good return from stock market, you can contact me at jamesngshare@gmail.com or PM me in my FB page https://web.facebook.com/jamesshareinvest/

In order to facilitate the query of the company and stock picking articles and videos I have written, an index has been produced. Everyone can find company and stock picking articles and videos from https://klse.i3investor.com/blogs/general/184178.jsp by date.



James的股票投资James Share Investing Blog: https://klse.i3investor.com/blogs/general/

James的股票投资James Share Investing Blog Index: https://klse.i3investor.com/blogs/general/blidx.jsp

Facebook Group: https://www.facebook.com/groups/jamesinvesting

If you want to join my WhatsApp group (there will be no James Ng's stock pick inside), please PM or email me your handphone number.

Final decision is always yours, thank you.

James Ng

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