【319股市】 Hibiscus Petroleum among most active counters after relinquishing exploration permit
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KUALA LUMPUR (Aug 15): Hibiscus Petroleum Bhd became one of the most active counters on Bursa Malaysia on Monday (Aug 15) morning on news that its indirect wholly owned unit had relinquished the VIC/P57 petroleum exploration permit to the Australian National Offshore Petroleum Titles Administrator (NOPTA).
At 10.12am, the counter rose by one sen to 86.5 sen, with 12.02 million shares traded.
In a filing with Bursa Malaysia on Friday, Hibiscus Petroleum said its indirect wholly owned subsidiary Carnarvon Hibiscus Pty Ltd and its associate company 3D Oil Ltd had surrendered the VIC/P57 exploration permit to NOPTA on Feb 4 following an unsuccessful farmout exercise.
The company said NOPTA has approved the surrender of the permit after getting the green light from the Commonwealth – Victoria Offshore Petroleum Joint Authority on Aug 4.
The surrender of the permit will take effect on the day the notice of surrender is published in the Australian Government Gazette.