Hibiscus Petroleum Bhd's stock soared 12.64 per cent or 22 sen today after its unit began drilling in Block 50, Oman on December
30.

At 4.10pm, the stock stood at RM1.96, after opening at RM1.75.

In a filing to Bursa Malaysia yesterday, the group said Masirah Oil Ltd and Partners, a jointly-controlled entity of Lime Petroleum Plc, had begun drilling an exploration well in the Block 50 Oman concession.

Hibiscus Petroleum owns a 35 per cent stake in Lime.

Lime has a 64 per cent participating interest in the Block 50 Oman concession while Petroci Holding, the national oil company of the Ivory Coast, has a 36 per cent participating interest.-- Bernama