April 19, 2018 10:53 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Hibiscus Petroleum Berhad

Company Overview

Hibiscus Petroleum Berhad, an investment holding company, explores, develops, and produces oil and gas. The company operates through Investment Holding and Group Activities, Anasuria, and 3D Oil, VIC/L31 & VIC/P57 segments. It holds interests in the Anasuria Cluster producing fields located to the east of Aberdeen in the Central North Sea, United Kingdom; and operates VIC/L31 production license and VIC/P57 exploration permit in the Australia, as well as invests in 3D oil. The company also invests in and operates exploration assets located in Norway, and the Middle East. In addition, it provides project management, technical, and other services related to the oil and gas exploration and produ...

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's Joint Venture Granted 5-Year Renewal Term of the VIC/P57 Exploration Permit

Hibiscus Petroleum Berhad announced that the Australian National Offshore Petroleum Titles Administrator has granted the VIC/P57 Joint Venture a renewal term of 5 years from 7 March 2018 to 6 March 2023 for the VIC/P57 exploration permit located in the northwest part of the offshore Gippsland Basin. The permit is close to shore, in shallow water depths, and proximal to infrastructure. The VIC/P57 Joint Venture comprises of Carnarvon Hibiscus Pty Ltd, Gippsland Hibiscus Pty Ltd. and 3D Oil Limited. CHPL and GHP are indirect wholly-owned subsidiaries of Hibiscus Petroleum, and the Hibiscus Petroleum Group also holds a 13% stake in TDO. In total, the Group has a 78.3% interest in VIC/P57.

Hibiscus Petroleum Berhad Reports Un-Audited Consolidated Earnings Results for the Quarter and Year to Date December 31, 2017

Hibiscus Petroleum Berhad reported un-audited consolidated earnings results for the quarter and year to date December 31, 2017. For the quarter, the company reported revenue of MYR 76,061,000 compared to MYR 62,821,000 a year ago. Profit before taxation was MYR 13,107,000 compared to MYR 10,032,000 a year ago. Profit after taxation attributable to owners of the company was MYR 11,042,000 or 0.72 sen per basic and diluted share compared to MYR 10,675,000 or 0.76 sen per basic and diluted share for the last year. EBITDA was MYR 28,376,000 compared to MYR 37,776,000 a year ago. For the year to date, the company reported revenue of MYR 134,297,000 compared to MYR 117,566,000 a year ago. Profit before taxation was MYR 22,829,000 compared to MYR 17,513,000 a year ago. Profit after taxation attributable to owners of the company was MYR 21,826,000 or 1.45 sen per basic and diluted share compared to MYR 90,958,000 or 6.54 sen per basic and diluted share a year ago. EBITDA was MYR 57,237,000 compared to MYR 69,007,000 a year ago. Net assets per share were MYR 0.50. Net cash generated from operating activities was MYR 40,302,000. Purchase of equipment was MYR 20,564,000. Acquisition of intangible assets MYR 464,000. The profit before taxation in the current period is primarily due to the sale of oil and gas products from the Anasuria Cluster, which generated revenue and gross profit of MYR 115.5 million and MYR 73.7 million respectively.

Hibiscus Petroleum Berhad, Special/Extraordinary Shareholders Meeting, Mar 01, 2018

Hibiscus Petroleum Berhad, Special/Extraordinary Shareholders Meeting, Mar 01, 2018, at 10:30 Singapore Standard Time. Location: The Summit 1, Level M1 @ The Vertical Connexion Conference & Event Centre, No. 8, Jalan Kerinchi, Bangsar South City Kaula Lumpur Malaysia Agenda: To consider proposed issue free warrants.

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