Lime Petroleum Plc, a subsidiary of Hibiscus Petroleum Bhd, said on Monday that it has awarded a drilling rig contract to Aban 7 Pte Ltd in its Oman concession.
The contract covers a minimum of two explorations wells, with a minimum period of 50 working days in its Block 50 Oman concessions. The deal will begin sometime between mid-October and mid-November.
“From our days as Malaysia’s first SPAC and being the country’s first and only listed independent exploration & production company, the awarding of this contract represents a significant milestone for us. Through the use of Rex Virtual Drilling, we believe we stand a good chance of success and hope to reward our loyal shareholders,” said Hibsicus Petroleum managing director Dr Kenneth Pereira.