Research house bullish over Hibiscus’ Sabah oil field purchase

PETALING JAYA: The acquisition of the North Sabah enhanced oil recovery (EOR) field by Hibiscus Petroleum Bhd will provide immense opportunities to increase the group’s production rate.

PublicInvest Research said there is access to 62,000 barrels of 2P (proven and probable) oil reserves and 79,000 barrels of 2C (best estimate of contingent resources).

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Business , Hibiscus Petroleum Bhd , oil and gas , North Sabah , novation agreement , analyst report

   

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