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1661-1680 of 1881
So is this gd news for shareholder of rh peteogas?
AldarSorouh ( Date: 23-May-2014 10:08) Posted:
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RH may want to lay its hands on Fuyu, a gas producing asset since it' s located near China.
Given the huge pollution problems in China, I would expect the govt to implement a directive to secure natural gas supplies for power stations since natural gas burns a lot cleaner compared to coal.
Huadian recently bought a 5% stake in a Petronas Pacific NorthWest gas asset in Canada as well as 5% of the future offtake (see:http://uk.reuters.com/article/2014/0...0NL3G120140430)
Also note that the reuters article mentioned that Huadian is currently the only utility firm drilling for shale gas in China.
Fuyu, being nearer to China and almost securing the production approval, would be a highly attractive asset.
From Mergermarket:
21/05/2014 China Huadian in talks to acquire RH Petrogas, source says
Proprietary Intelligence
China Huadian, the state-owned pow er generation group, is in talks to acquire the Singapore-listed RH Petrogas, a source said.
China Huadian is planning to acquire a part of or all issued equity share capital in RH Petrogas, the source said. The process is targeted to finalise soon this year.
China Huadian has hired a Singapore-based financial advisor for the deal, while RH Petrogas has hired Credit Suisse, the source said.
Spokespeople from China Huadian, RH Petrogas and Credit Suisse did not comment on the article.
RH Petrogas has been approached by a Chinese company at a very good premium, a Singapore-based banker claimed.
The controlling shareholders of RH Petrogas have been approached by an investor and have engaged in discussions, Group CEO and Executive Director Chang Cheng-Hsing Francis, said in a stock exchange announcement yesterday, May 20.
The controlling shareholders are Surreyville, Sharptone Investments and RH Capital. The discussions may lead to a takeover offer of shares in RH Petrogas, but there is no formal offer yet by the aforesaid investor, Chang said in the announcement.
RH Petrogas, w hich has market cap of SGD 566.16m (USD 451.8m), is 28.88% held by Surreyville, 18.09% by Sharptone Investments, and 11.62% by RH Capital, according to its 2013 annual report.
The Singapore-listed company currently has oil and gas assets through production sharing contract (PSC) blocks in Indonesia, Malaysia, Myanmar and China, according to its w ebsite. In Indonesia, RH Petrogas holds a 60% stake in Kepala Burung PSC, a 33.21% stake in Salaw ati Kepala Burung PSC in West Papua, and a 94% stake in West Belida PSC in South Sumatera. Besides, it also holds an 80% stake in SK331 PSC in Onshore Sarawak,Malaysia, and 50% of M-1 block seismic option in Myanmar. While in China, the company holds 100% and operates the Fuyu-1 PSC in Songliao Basin, through
its subsidiary Kingworld Resources.
RH Petrogas booked USD 19.77m in revenues and USD 73,000 in profit for the quarter ending 31 March 2014. The company booked USD 86.39m of revenue and USD 65.88m of loss in 2013.
by Deviana Chuo, Karen Ng and Olia Wang
Source Proprietary Intelligence
Value USD 452m (RH Petrogas market-cap)
StakeValue
more than 30% inclusive
Target RH Petrogas
yah those that bot on last fri today need to sell off if they wish to contra
BornAgain ( Date: 21-May-2014 11:18) Posted:
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think prior to the announcement, it was already estimated to hit 90 this week.
but let' s see :) can be a case of shortists as well.
Wondering how many people got caught by RHP's announcement yesterday night of potential suitor and chased up this counter all the way to 86.5c this morning hoping to see the magical $1 number?
heard rumours but think not likely.....be careful.....
As of 10am, buy volume at 11,733k vs sell volume 8,793k.....still attract buyer despite of quick profit taken...feel it will go back quick to 85
daffytlh ( Date: 21-May-2014 09:55) Posted:
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Today RHP very very fierce. Suddenly up and suddenly down so much and up so much again
Wa u v daring.i see px drop like that I scared liao.
Liverpool77 ( Date: 21-May-2014 09:43) Posted:
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Siao liao.go up again.watching closely
bought on dip...
syndicate playing....sell on news
Hahahah this counter always like that.
News out the plunge.
Luckily i out yesterday.
News out the plunge.
Luckily i out yesterday.
daffytlh ( Date: 21-May-2014 09:16) Posted:
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Same old **** different day...
Always have a story to lure folks into buying, then pump make pple chase, after that profit taking then retailers all panic.
We'll see if it goes up again or story of takeover is canceled
Always have a story to lure folks into buying, then pump make pple chase, after that profit taking then retailers all panic.
We'll see if it goes up again or story of takeover is canceled
lao sai liao...
Today is upstream Oil & Gas Rock & Roll time. Very strong volume buying up a few counters
I think Fuyu announcement will not have any impact.
Takeover offer now.
I am quite sure the offer at least or close to $1 since BB can push till 0.855.
Takeover offer now.
I am quite sure the offer at least or close to $1 since BB can push till 0.855.
pjnecy ( Date: 20-May-2014 20:40) Posted:
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No leh, totally different industries, Olam is consumable goods vs RHP in industrial goods
daffytlh ( Date: 20-May-2014 23:29) Posted:
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Now that u mention..olam then rh petro..see anything common..
RoundRound ( Date: 20-May-2014 23:25) Posted:
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