Hibiscus Petroleum Bhd is looking for a farm-in partner in its VIC/L31 licence, located in the Gippsland Basin. Hibiscus is farming out up to 50%. Hibiscus reports that an electronic data room is available, with interested parties required to sign a confidentiality agreement prior to gaining access.  VIC/L31 covers an area of 34 sq km and was awarded on 5 December 2013. Carnarvon Hibiscus Pty Ltd, a wholly owned subsidiary of Hibiscus Petroleum Bhd, currently holds 100% interest and operatorship of the licence. It contains the Seahorse West oil field, which was discovered in November 1981. The field has estimated 2P recoverable reserves of around 8 MMbo. Two wells were planned for Q4 2015/Q1 2016 as part of the field development. However, the final investment decision (FID) was first deferred until mid-2017 and then to approximately 2020 in light of the current low oil price environment.  Interested parties in the opportunity should contact:  Mark Paton, Chief Business Development Officer  Tel: +60 3 2092 1300  Email: mark@hibiscuspetroleum.com
Hibiscus Petroleum Bhd is looking for a farm-in partner in its VIC/L31 licence, located in the Gippsland Basin. Hibiscus is farming out up to 50%. Hibiscus reports that an electronic data room is available, with interested parties required to sign a confidentiality agreement prior to gaining access. VIC/L31 covers an area of 34 sq km and was awarded on 5 December 2013.