Hibiscus Petroleum Records FY2017 Net Profit After Tax of RM106.1 Million, Sharply Reversing RM60.0 Million Loss in FY2016 As Revenue Rises More Than Three-Fold

Hibiscus Petroleum Berhad (“Hibiscus Petroleum” or “the Company” or “the Group”) today announced the results for its fourth financial quarter ended 30 June 2017 (“4Q17”). The Group reported net profit after tax of RM106.1 million for the twelve months ended 30 June 2017 (“FY2017”), a positive swing of RM166.1 million, from a loss of RM60.0 million in the preceding year ended 30 June 2016 (“FY2016”), driven by improved revenue and efficiencies from the Anasuria Cluster oil and gas fields in the North Sea off the United Kingdom.