Home › Business › Business News
Thursday, 21 March 2013
KUALA LUMPUR: Hibiscus Petroleum Bhd is teaming up with Rex Oil & Gas Ltd's affiliate to seek investments in oil and gas (O&G) exploration assets in 11 countries in Asia-Pacific.
It said on Thursday its unit Orient Hibiscus Sdn Bhd and Rex Southeast Asia
Ltd were teaming up to leverage on the use of Rex proprietary technologies in these countries.
These countries are Malaysia, New Zealand, Philippines, Vietnam, Australia, Thailand, Brunei, Papua New Guinea, Indonesia, Myanmar and Cambodia, and offshore areas associated with these countries.
Rex O&G holds a 56.4% stake in Hibiscus Petroleum's jointly-controlled entity, Lime Petroleum Plc.
"Using Rex Technology, Hibiscus Petroleum, through HiRex, will be well positioned to identify, select and secure equity positions in high impact exploration assets in the AsiaPacific region, and thus further enhance its shareholders' value," it said.
Hibiscus: Hydrocarbons not found at well
Hibiscus plans to drill five wells
Hibiscus unit buys stake in O&G well
Hibiscus unit to start drilling exploration well
Hibiscus sees opportunities in volatile oil and gas market
Radio ads effective in promoting brand image
GHL, Managepay on steady rise after Bank Negara move
Compensation taken away by Housing Controller
Can Ashley Madison make money from adultery?
Next stop – Sensational Singapore
How Malaysians abroad are bridging a skills gap
More must be done to boost Mulu
Everton win leaves Man Utd feeling jittery
Travel Share: Hanoi, Sapa, Halong Bay in a nutshell
Copyright © 1995-2015 Star Publications (M) Bhd (Co No 10894-D)