Hibiscus gains on Oman oil find

PETALING JAYA: Investors cheered news of Masirah Oil Ltd, an associate company of Hibiscus Petroleum Bhd, finding evidence of hydrocarbon in the drilling of a well in an offshore oil block in Oman by snapping up shares of the latter, pushing its price to a high of RM2.33.

The mother share later pared gains to close eight sen higher to RM2.18 on heavy volume of 4.18 million shares. The warrants performed better, ending 15 sen higher to RM1.68, with 10.3 million units changing hands.