Our History

Bursa Main Market Listing

25 July 2011

Listed on the Main Market of Bursa Securities under Special Purpose Acquisition Company (SPAC) listing rules.

Qualifying Asset Acquisition

18 April 2012

Completion of Qualifying Acquisition – 35% equity interest in Lime Petroleum Plc, whose assets included concessions in the Middle East.

Bursa Malaysia Reclassification of Sector

11 June 2012

Conversion from SPAC to Oil and Gas Company following Qualifying Asset Acquisition.

Completion of 3D Oil and VIC/P57 Transactions

8 January 2013

Hibiscus Petroleum’s indirect wholly-owned subsidiary, Carnarvon Hibiscus Pty Ltd, becomes the operator and 50.1% owner of the VIC/P57 permit area in the Bass Strait, Australia and 13.04% shareholder of 3D Oil.

Australia Asset Production Licence Award

5 December 2013

National Offshore Petroleum Titles Administrator of Australia awards the VIC/P57 joint venture with a Production Licence VIC/L31 over the West Seahorse oilfield in the offshore Gippsland Basin, Victoria, Australia.

First Oil Discovery in Block 50 Oman

3 February 2014

Masirah Oil Ltd, a subsidiary of Lime Petroleum, discovers light oil in GA-South #1, the first offshore oil discovery in the east of Oman after more than 30 years of exploration activities.

Completed Drilling of Sea Lion-1 – Our First Exploration Well in Australia

11 November 2015

Carnarvon Hibiscus completes drilling of the Sea Lion-1 exploration well in Australia.

Completed Acquisition of Anasuria – Our First Producing Asset

11 March 2016

Hibiscus Petroleum completes the acquisition of a 50% interest in the Anasuria Cluster of oil & gas fields and the Anasuria FPSO located in the UK North Sea from Shell U.K. Limited, Shell EP Offshore Ventures Limited and Esso Exploration and Production UK Limited for a total cash consideration of USD52.5 million. Anasuria Operating Company Limited, a company jointly incorporated by Anasuria Hibiscus UK Limited and Ping Petroleum UK Limited, assumed operatorship of the Anasuria Cluster (with the exception of the Cook Field).

Top 9% of Listed Companies for Corporate Governance (CG) Disclosures

22 December 2016

Based on a Bursa Malaysia analysis of 280 Annual Reports, Hibiscus Petroleum scored an average of 84.7%, placing it in the top 9% of companies analysed, an improvement from 2014 when it was ranked in the top 20%.

Completed Acquisition of 2011 North Sabah EOR PSC – Our Second Producing Asset

31 March 2018

Hibiscus Petroleum’s indirect wholly-owned subsidiary, SEA Hibiscus Sdn Bhd, assumes operatorship of the North Sabah Enhanced Oil Recovery Production Sharing Contract (EOR PSC) after acquisition from Sabah Shell Petroleum Company Limited and Shell Sabah Selatan Sdn Bhd (collectively Shell) of Shell’s entire 50% participating interest in the 2011 North Sabah EOR PSC for a purchase consideration of USD25 million.

Completed Acquisition Of Marigold & Sunflower – Our First UK Development Asset

16 October 2018

Hibiscus Petroleum completes the acquisition of a 50% interest in the UK Continental Shelf Petroleum Production Licence No. P.198 Blocks 15/13a and 15/13b in the UK Central North Sea, which includes two discovered oilfields (Marigold & Sunflower respectively), thereby increasing Hibiscus Petroleum’s footprint in the UK.

Achieved First Oil from St Joseph infill Drilling Project in North Sabah

16 July 2019

SEA Hibiscus safely and successfully drilled and completed the SJ‐105A well, the first of 7 wells drilled as part of the North Sabah 2019 drilling campaign.

The Edge Malaysia Billion Ringgit Club Award Win

19 September 2019

Hibiscus Petroleum receives the award for “Highest Returns to Shareholders Over Three Years” in the Energy Sector at The Edge Billion Ringgit Club Corporate Awards 2019.

North Sabah Team Awarded for Production Operations

17 August 2020

SEA Hibiscus receives three awards, including Best Emerging Petroleum Arrangement Contractor, at the inaugural Malaysia Upstream Awards 2020 organised by PETRONAS.

Ranked in top 10% of PLCs for CG Disclosure, top 5% for overall CG and Performance by MSWG

19 September 2020

Hibiscus Petroleum ranked in the top 10% of Malaysian public listed companies (85th position out of the 866 companies evaluated) for CG disclosure in the Minority Shareholders Watch Group (MSWG)’s Malaysia-ASEAN Corporate Governance Report 2019. Also ranked in the top 5% of Malaysian public listed companies (38th position out of the 866 companies evaluated) for overall CG and performance.

Inclusion in FTSE4Good Bursa Malaysia Index

21 December 2020

Hibiscus Petroleum is accepted as a constituent of the FTSE4Good Bursa Malaysia Index. This index measures the performance of public listed companies demonstrating strong Environmental, Social and Governance (ESG) practices.

Signing of Conditional Sale & Purchase Agreement (SPA) to Acquire Repsol’s Assets offshore Malaysia and Vietnam

1 June 2021

Hibiscus Petroleum’s indirect wholly-owned subsidiary, Peninsula Hibiscus Sdn Bhd (Peninsula Hibiscus), entered into a conditional SPA with Repsol Exploración, S.A. for the proposed acquisition by Peninsula Hibiscus of the entire equity interest in Fortuna International Petroleum Corporation, which holds various interests and operatorships in 5 production sharing contracts (PSCs). The proposed acquisition is subject to the receipt of requisite approvals and consents.