July 29, 2016 4:43 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Hibiscus Petroleum Berhad

Company Overview

Hibiscus Petroleum Berhad explores, develops, and produces oil and gas. The company holds interests in the Anasuria Cluster, which is located in the Central North Sea, United Kingdom; and operates VIC/P57 exploration permit and VIC/L31 production license within the Australia region. It also holds frontier exploration permits through Lime Petroleum Plc. in Oman and the United Arab Emirates; and holds interest in the frontier exploration of Norwegian Continental Shelf through Lime Petroleum Norway AS. In addition, the company provides project management, technical, and other services relating to the oil and gas exploration and production industry. Hibiscus Petroleum Berhad was incorporated in ...

Syed Kechik Foundation Building

2nd Floor

Jalan Kapas

Bangsar

Kuala Lumpur,  59100

Malaysia

Founded in 2007

Phone:

60 3 2092 1300

Fax:

60 3 2092 1301

Key Executives for Hibiscus Petroleum Berhad

Hibiscus Petroleum Berhad does not have any Key Executives recorded.

Hibiscus Petroleum Berhad Key Developments

Hibiscus Petroleum Berhad Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 31, 2016

Hibiscus Petroleum Berhad reported unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2016. For the quarter, the company reported revenue of MYR 31.777 million against MYR 1.717 million a year ago. Profit before taxation was MYR 79.839 million against loss before taxation of MYR 11.017 million a year ago. Profit after taxation attributable to owners of the company was MYR 80.505 million or 7.32 sen per basic and diluted share against loss after taxation attributable to owners of the company of MYR 11.041 million or 1.23 sen per basic and diluted share a year ago. For the nine months, the company reported revenue of MYR 32.977 million against MYR 6.267 million a year ago. Loss before taxation was MYR 79.559 million against MYR 31.617 million a year ago. Loss after taxation attributable to owners of the company was MYR 78.912 million or 7.71 sen per basic and diluted share against MYR 30.976 million or 3.57 sen per basic and diluted share a year ago. Net cash generated from operating activities was MYR 75.528 million and purchase of equipment was MYR 0.023 million.

Hibiscus Petroleum Seeks Acquisitions

Hibiscus Petroleum Berhad (KLSE:HIBISCS) is seeking acquisitions. Hibiscus said, it is eyeing more cash generating assets in Australia, Malaysia and the North Sea. Ken Pereira, Managing Director of Hibiscus Petroleum, said that the company is always looking for acquisition opportunities. "Our core areas in this part of the world, Australia would be one. Malaysia, (and the United Kingdom) North Sea would be another area," Pereira said.

Hibiscus Petroleum Mulls Acquisitions

Hibiscus Petroleum Berhad (KLSE:HIBISCS) is seeking acquisitions. Ken Pereira, Managing Director of Hibiscus Petroleum, said, “Off Australia, Hibiscus will look into acquiring more assets to expand the reserve base for its proposed West Seahorse field development.”

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Anasuria Cluster
 

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