http://www.jamaicaobserver.com/editorial/Drop-in-oil-prices-could-boost-Jamaica-s-economic-growth_17846632

Let's hope tomorrow open high. Everything positive last Friday. Sleep well everyone. Cheers!

Nomandland - yes you are very correct. Cheers!

http://www.investing.com/analysis/has-the-oil-market-become-immune-to-geopolitics-230843

https://www.imoney.my/articles/top-10-richest-men-in-malaysia?utm_source=taboola&utm_medium=cpc&utm_term=top%2010%20richest%20man%20in%20my&utm_content=infographic&utm_campaign=top%2010%20richest%20man%20in%20my&utm_source=taboola&utm_medium=cpc&utm_campaign=iMoneyMY

Let's hope tomorrow open on a positive note. Cheers!

http://energy-pubs.com.au/oil-gas-australia/malaysias-hibiscus-wholly-acquires-west-seahorse-field/

I feel November good month for Hibiscus

Selayangmurai - hoping for Christmas and New Year bonus .

Will be a very good ending to this year. Cheers!!!!

http://www.rigzone.com/news/oil_gas/a/135654/3D_Oil_Prepares_for_Flanagan_3D_Seismic_Survey_in_Otway_Basin.asp

http://ppo.com.au/news/hibiscus_enlists_seadrill_drilling_rig_for_vicp57/089772/

http://www.mentorimcgroup.com/oil-and-gas-news/October-2014/sea-lion-prospect-drilling-for-hibiscus-201410312085.html

Guess who is the KEY SPEAKER


http://www.dutch-energysolutions.nl/wp-content/uploads/2014/10/ODO_Brochure_2014v2.pdf

Deal done on OCT 30 2014 meaning NOW the ownership is 100% HIBISCUS PETROLEUM

http://www.ogj.com/articles/2014/10/hibiscus-3d-oil-close-on-sale-of-license-offshore-victoria.html

Hibiscus, 3D Oil close on sale of license offshore Victoria
MELBOURNE, Oct. 30

10/30/2014

By Rick Wilkinson
OGJ Correspondent

3D Oil Ltd., Melbourne, has completed the sale of its interests in Victorian offshore production licence Vic/L31 to Malaysian’s Hibiscus Petroleum Bhd.

3D received the final payment of $14.05 million last week. This sum came in addition to $1.95 million already paid for the 49.9% interest in the licence that contains the yet-to-be developed near-shore West Seahorse oil field.

The final transaction means that 3D has no remaining interest and no further obligations for work in Vic/L31. Hibiscus now has the permit 100%.

Hibiscus also previously paid $7.5 million for 3D’s interest in the Britannia drilling rig that was planned for use as an offshore production facility on West Seahorse as well as a further 5% interest in the surrounding exploration permit Vic/P57.

3D says it will use the funds to pursue the planned Sea Lion-1 exploration well in Vic/P57 during 2015.

Hope to see recovery tomorrow so everyone can enjoy a good weekend. TGIF!

If Ken is saying in his Oct 15, 2014 interview that Hibiscus is Valued at USD1billion i.e the company is valued RM3.2 billion.

The current shareholding of Hibiscus is 891 million shares.

What should be the share price?? RM4? RM5?

anyone?

The above interview is new - 15 October 2014

http://www.energyboardroom.com/interviews/hibiscus-petroleum-kenneth-pereira-managing-director-malaysia

Interesting article - interview of Hibiscus Petroleum - Kenneth Pereira, Managing Director – Malaysia

http://www.energyboardroom.com/interviews/hibiscus-petroleum-kenneth-pereira-managing-director-malaysia


"You are quoted saying that your mission is to discover 100 million boe and achieve production levels of 10,000 to 15,000 boe/d by 2016. What are the major steps that need to be implemented to reach that level and are you on schedule?

answer:

" There is a very real opportunity to discover our 2P/2C target of 100 million boe by 2016 i.e. within the first five years of our IPO. The combined prospective resources we are chasing, net to Hibiscus is well in excess of 100 million barrels and we expect to be drilling 5 exploration wells in 2015 hoping to contribute to this target. Subject to the closing of the Kitan transaction, which has already been disclosed and the implementation of our West Seahorse development in the Bass Strait of Australia in early 2016, we will also be close to or perhaps even in excess of our production target of 10000 boe / day net to Hibiscus. What we have found is that if you achieve these type of metrics, you will be valued at around USD 1 billion at US$ 100 / bbl oil price. This is our goal and I think it is a very realistic objective to be achieved within 5 years of our inception, i.e. in 2016, subject of course to macro conditions in the global capital markets.""

Hope tomorrow Bursa and oil and gas counters shoot up

Dow Jones up Dow 30 17,094.50 +120.19 +0.71%

Let's hope the oil price stabilise - it's now hovering at USD86 for Brent.

If up it zoom past 88 it will be a good sign indeed. Fingers crossed!! Hope for a Good Friday everyone.

Hibiscus Petroleum which has a 13 per cent interest in Australian 3D through its wholly owned subsidiary Carnarvon Hisbiscus Pty Ltd in a press statement yesterday said 3D has contracted a modern high-specification vessel, Polarcus Asima to be deployed in November for the seismic survey.
The company noted the survey covers an area of 4,960 square kilometres in water depths and no greater than 100m.

Hibiscus said the survey is conducted to discover a number of leads in the northern part of the block which are located adjacent to the neighbouring Thylacine and Geographe gas fields which have an estimate combined gas amount of over two trillion cubic feet (tcf).

Significantly, the company observed that the Whalebone and Flanagan gas fields could have a combined forecast resource of 7.8 tcf.

As of to-date, Hibiscus Petroleum noted 3D has identified 10 leads which could potentially have a combined gas resource of 20 tcf.


WOW!!wow!!, wow!! 20 trillion cubic feet..... Woderbar!!!!

Read more: http://www.theborneopost.com/2014/10/30/hibiscus-petroleum-to-begin-gas-exploration-in-otway-basin/#ixzz3HdgshgdK

Good article

http://www.rigzone.com/news/oil_gas/a/135068/Malaysias_Special_Purpose_Acquisition_Companies_Expands_Upstream/?all=HG2

See how far Hibiscus has come

Miracles happen when you least expect them. That is the beauty of miracles.

Hoping for year end rally - 2 more months to go..

Granto - thanks - what I like is this

" The Sea Lion exploration prospect has estimated prospective resources of about 11m bbl."

Brent Oil 87.39 +1.38 (+1.60%)


Up more than USD 1

Brent Oil 87.39 +1.38 (+1.60%)

Hope so - everything good for oil right now - hope all good news now on. Oil price also up more than USD1

17,035.50 +29.75 (+0.17%)
13:30:19 GMT - Real-time CFD Data. Currency in USD ( Disclaimer )

Hope tomorrow touch 90 cents - everybody happy

Then everybody can smile tomorrow and make money

Hope everything up then we all very happy

In the October 2014 presentation -

" Hirex Petroleum is currently evaluating high potential assets in Cambodia and Malaysia. The company aims to acquire an equity position in at least 2 assets by the end of the year."

Hirex in MALAYSIA? Wow!!!!!!!!!

The key summary of this drilling in 2Q 2015 is this:

"The Sea Lion exploration prospect which is targeted to be drilled in the 2nd quarter of 2015, has been selected for drilling after in-depth technical and economic evaluation, with estimated prospective resources of about 11million barrels."



So we are looking at another 11million barrels. Their target is 100 million barrels.

HIBISCUS PETROLEUM BERHAD -PRESS RELEASE

CARNARVON HIBISCUSSIGNS RIG SHARE AGREEMENT FOR ITS EXPLORATION WELL DRILLING IN 2nd QUARTEROF 2015

Hibiscus’s subsidiary, Carnarvon Hibiscus as Operator, to utilise the Seadrill West Teles to rig to drill one exploration well in VIC/P57 offshore Australia

Drilling of the Sea Lion exploration well is expected to commence in 2nd quarter 2015

Kuala Lumpur, 29October2014:Hibiscus Petroleum Berhad (Hibiscus Petroleum)today announced that its wholly-owned entity, Carnarvon Hibiscus Pty Ltd(CHPL), has signed a rig share agreement for the drilling of an exploration well located in VIC/P57 offshore Australia. The agreement is signed with Origin Energy Resources Ltd (Origin) which intends to drill two wells prior to handing over the rig to CHPL.
Under the agreement, CHPL will assume the services of the Seadrill West Teles to drilling rig, an independent leg cantilever jack-up rig, to spud and drill the Sea Lion exploration well after the Origin’s drilling activities. The drilling of the Sea Lion exploration well is estimated to take up to 30days. The agreement also provides CHPL with an option to drill the two West Seahorse development wells immediately following Sea Lion.
The Rig Share Agreement with Origin was chosen for several reasons, including the significant savings gained for sharing of the mobilisation and demobilisation costs, certainty of the rig’s availability period, strong past operating performance, crew competence and good health, safety and environment record.

Seadrill Ltd is an international drilling contractor that is listed on both the Oslo Stock Exchange and New York Stock Exchange.

Commenting on the award, Dr Kenneth Pereira, Managing Director of Hibiscus Petroleum said, “After months of planning, we are excited to get our drilling program in VIC/P57 underway. If successful, Sea Lion would be developed as a tie-back to West Seahorse, fully utilizing the planned West Seahorse facilities and providing a cost effective solution for the development of Sea Lion”.

The Sea Lion exploration prospect which is targeted to be drilled in the 2ndquarter of 2015, hasbeen selected for drilling after in-depth technical and economic evaluation, with estimated prospective resources of about 11million barrels.



CHPL currently has a 50.1% participating interest in VIC/P57, while the balance is held by 3D Oil Limited 2

(3D Oil). Pursuant to various agreements signed between CHPL, 3D Oil and Hirex Petroleum Sdn Bhd (HIREX, a 41% jointly controlled entity of Hibiscus Petroleum)on 4 July 2014, CHPL will acquire a further 5% interest in VIC/P57 whilst HIREX has an option to acquire a 20% interest in VIC/P57 exploration permit from 3D Oil. The completion of these transactions is pending the satisfaction of certain condition precedents.

http://www.hibiscuspetroleum.com/download/pdf/media/news/Investor%20Presentation_October%202014.pdf

Page 6 of this October 2014 presentation states:

Achieving Scale : To be a Respected Independent E&P Company
100 MMbbls 2P/2C Reserves
10,000 bbls/day production

Resources and Reserves
2P+ 2C Oil Reserves
MMbbls
JPDA - Kitan
4.31
Australia - West Seahorse
8.02
Prospective Resources
MMbbls3
Australia – Sea Lion
6.9
RAK - Dahan
43.0
Norway
64.8
Sharjah – Zubara
246.4
Oman – Masirah Block 50
1135.0
All figures represent resource net to Hibiscus
1.Based on Wood Mackenzie estimates 2P + 2C
2.Based on Gaffney Cline estimates 2P + 2C
3.Net resources based on Aker Geo and internal estimates

Look at the latest presentation slides of October 2014 below.

http://www.hibiscuspetroleum.com/download/pdf/media/news/Investor%20Presentation_October%202014.pdf

Resources and Reserves
8.0
4.3
2P + 2C Oil Reserves (MMbbls)*
Australia - West Seahorse : 100%**
(Concession Operator)
JPDA - Kitan: 25%***
6.9
43.0
64.8
246.4
1,135.0
Prospective Resources (MMbbls)*
Australia - Sea Lion: 63% (Concession Operator)
RAK - Dahan: 21% (Concession Operator)
Norway: 2-8%
Sharjah - Zubara: 35% (Concession Operator)
Oman - Masirah Block 50: 22% (Concession Operator)
*All figures represent resource net to Hibiscus
**Assumes HPB exercises option to buyout 3D oil's share in VIC L31 and 5% of VIC P57 and HiRex acquires 20% of VICP57
***Assumes completion of the acquisition of 100% of Talisman Resources (JPDA 06 105) Pty Limited

Hibiscus start drilling 2nd quarter 2015 - see announcement

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1780069


We attach herewith our press release dated 29 October 2014 entitled "Carnarvon Hibiscus signs Rig Share Agreement for its exploration well drilling in 2nd quarter of 2015".