Scandoil  

Hibiscus executes agreement to purchase first production asset


Published Jun 30, 2014
Hibiscus Petroleum

Hibiscus Petroleum Berhad says that its wholly-owned subsidiary, Timor Hibiscus Limited, has executed a Share Sale Agreement for the acquisition of 100% of the shares in Talisman Resources (JPDA 06 105) Pty Ltd, a wholly-owned subsidiary of Toronto Stock Exchange and New York Exchange listed, Talisman Energy Inc.

The assets of the company acquired include a 25% stake in the Kitan producing oil field. Based on current estimates, Hibiscus expects the Kitan oil field to contribute significant net cash to the company in the second half of 2014. At current oil prices, this will allow Hibiscus to book its first operating profit in 2014.

Tags: Hibiscus Petroleum




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml