SONA (5241) -----Another Profitable Trade???

Sona hv built a strong base...

A cup & handle formation is formed...signified a bullish tone...

An uptrend is forming with higher lows...a new uptrend wave...

All resistance will be taken out in due course....why??

Sona will be finalizing the QA soon...

With the lower oil price...Salamander hv 2 options...

i) accept the share swap from Ophir(Ophir share price hv been dropping)...a complicated process...

ii) accept Sona's proposal for the cash consideration...which it needed badly.

In the case that Salamander accept the Ophir's proposal...Sona hv propose to buy up Ophir

*The announcement....

We refer to the announcements dated 5 June 2014, 25 June 2014, 21 July 2014, 29 August 2014, 28 October 2014, 17 November 2014, 24 November 2014 and 25 November 2014 in relation to the Proposed Transaction.

On behalf of Sona Petroleum, CIMB Investment Bank Berhad and RHB Investment Bank Berhad wish to announce that Salamander and Sona Petroleum intend to mutually terminate the previously announced SPA and other relevant transaction documents in respect of the Proposed Transaction. 
 
Notwithstanding the above, given its knowledge of the asset, Sona Petroleum remains interested in acquiring a stake in the Greater Bualuang area. Sona Petroleum, therefore, intends to approach Ophir Energy Plc or Salamander regarding a revised transaction post their respective shareholder meetings on 6 February 2015 based on new terms reflecting prevailing market conditions and level of oil prices. At the same time Sona is also considering other alternative qualifying assets opportunities.
 
This announcement is dated 14 January 2015.



The above is jst my2c opinion....trade at your own risks.