oil rig - pix courtesy from petronas
THE story of Hibiscus Petroleum Bhd
’s growth is an interesting one, considering its funding needs have virtually all come from private investors. The debt-free independent exploration and production company has achieved a few notable milestones.
Not only has it survived making expensive acquisitions before the oil price crash (when it lived as a special-purpose acquisition company or SPAC), it also went through the oil crash and has come out smiling, by being cashflow positive.
