Hibiscus unit gets permit for Aussie exploration

Hibiscus said the work programme for VIC/P79 was designed to exploit an existing opportunity in the permit through one exploration well at Vanguard Prospect in permit year three, after the reprocessing, merging and interpretation of 630 square km of existing 3D seismic data.

PETALING JAYA: Hibiscus Petroleum Bhd’s associate company, 3D Oil Ltd (TDO) has secured a VIC/P79 exploration permit for offshore Otway Basin in Australia from National Offshore Petroleum Titles Administrator.

Hibiscus’ unit Oceania Hibiscus Sdn Bhd holds an 11.7% equity in TDO.