Hibiscus sees over RM210 million gain from Aussie oil

Hibiscus Petroleum Berhad (HPB) has forecast a gain in net present value of RM210 million over a five year period from mid-2015, if its 2015 production plan materialises for its West Seahorse oil field in Australia. According to HPB officials, if HPB is also able to discover oil in the Adjacent Sea Lion field which is estimated to have 11 million barrels of oil, the gain to be netted from this field will be in excess of USD65 million.