HIBISCUS PETROLEUM BERHAD (“HIBISCUS PETROLEUM” OR THE “COMPANY”) Sector Classification on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Malaysia”) _________________________________________________________________________________
We refer to the announcement dated 18 April 2012 in respect of the completion of the acquisition of Hibiscus Petroleum’s 35% equity interest in Lime Petroleum Plc.
We confirm that upon completion of the Lime Acquisition, Hibiscus Petroleum had transformed from a Special Purpose Acquisition Company into a fully operating oil and gas exploration and production company listed on Bursa Malaysia’s Main Market.
Hibiscus Petroleum had made an application to Bursa Malaysia on 23 April 2012 to reclassify our Company from the SPAC category to a more suitable category to reflect our status as a fully operating public listed company.
The sector categorization is pending a final decision from Bursa Malaysia.
so means? price still the same. too much O&G in KLCI. all counters will surge when talk about involvement or potential involvement in O&G. but then will drop back....
SYDNEY (Reuters) - Asian stocks faltered on Wednesday, while oil and gold held on to overnight gains after President Barack Obama clinched the backing of two key figures in Congress in his drive for limited U.S. strikes on Syria. If strike, price up or down.....
Bass Strait Oil Company Ltd (BAS) announced Friday that it has entered into a Collaboration Agreement with HIREX Petroleum Sdn Bhd. (HIREX). HIREX has access to proprietary evaluation technology that it will use as a means of determining whether HIREX will participate in specific BAS exploration opportunities in the Gippsland Basin, Australia. The Collaboration Agreement outlines the agreed forward principles for BAS and HIREX to apply to opportunities.
VIC/P42 (BAS: 100 percent)
The evaluation technology will initially be applied to an assessment of the Vic/P42 permit. Subject to government approval of a work program variation request, HIREX and BAS will work together over the next 3 months to reassess the prospectivity of the permit by integrating the new technology with conventional geological and geophysical data. HIREX may then commit to acquiring a 51 percent participating interest in the permit and the joint venture may commit to drilling an exploration well in the 2014/2015 period.
good thing is Hibiscus didnt deny anything...so there's something to the news. unlike Sumatec rumour, fake busibness times news...so they deny nd share plunge
Mother should reach 2.50 earlier then the warrant. Of course the mother would be higher, and less warrant available since most were hold and convert. to mother share......
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
TTRR
9 posts
Posted by TTRR > 2012-05-17 20:45 | Report Abuse
LOL...
So hibiscus is not SPAC anymore.
HIBISCUS PETROLEUM BERHAD (“HIBISCUS PETROLEUM” OR THE “COMPANY”)
Sector Classification on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Malaysia”)
_________________________________________________________________________________
We refer to the announcement dated 18 April 2012 in respect of the completion of the acquisition of Hibiscus Petroleum’s 35% equity interest in Lime Petroleum Plc.
We confirm that upon completion of the Lime Acquisition, Hibiscus Petroleum had transformed from a Special Purpose Acquisition Company into a fully operating oil and gas exploration and production company listed on Bursa Malaysia’s Main Market.
Hibiscus Petroleum had made an application to Bursa Malaysia on 23 April 2012 to reclassify our Company from the SPAC category to a more suitable category to reflect our status as a fully operating public listed company.
The sector categorization is pending a final decision from Bursa Malaysia.
This announcement is dated 16 May 2012.