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MarketScreener Homepage  >  Equities  >  BURSA MALAYSIA  >  Hibiscus Petroleum Bhd    HIBI   MYL5199OO004

HIBISCUS PETROLEUM BHD

(HIBI)
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Hibiscus Petroleum Bhd : Petronas submits St Joseph offshore infill drilling plan

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12/07/2018 | 05:53am EDT

Hibiscus Petroleum has updated progress on production improvement measures at the North Sabah production-sharing contract offshore Malaysia.

Last month operator Petronas submitted its development plan for the St Joseph infill drilling project. This will involve drilling three infill producer wells using a triple splitter wellhead on the St Joseph Jacket-A (SJJT-A) platform.

The program should lift oil production by around 2,600 b/d at peak and will necessitate only minimal modifications to the platforms topsides facilities at the SJJT-A platform.

Hibiscus estimates total capex for the project at RM142.5 million ($34.3 million). Drilling is due to start next April followed by first oil in June 2019.

(c) 2018 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (MYR)
Sales 2019 923 M
EBIT 2019 462 M
Net income 2019 308 M
Debt 2019 713 M
Yield 2019 -
P/E ratio 2019 7,27
P/E ratio 2020 7,07
EV / Sales 2019 2,56x
EV / Sales 2020 2,66x
Capitalization 1 652 M
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Mean consensus OUTPERFORM
Number of Analysts 3
Average target price 1,65  MYR
Spread / Average Target 58%
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Managers
NameTitle
Kenneth Gerard Pereira Managing Director & Executive Director
Zainul Rahim bin Mohamad Zain Non-Independent Non-Executive Chairman
Mark John Paton Chief Operating Officer
Chee Yeong Yip Vice President-Finance & Group Controller
Joel Sheng Head-Information Technology
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