Hong Leong Investment Bank says Hibiscus Petroleum is a compelling investment opportunity that is ‘clearly undervalued’.
Anasuria Hibiscus UK is expected to achieve first oil production from the Marigold field in the UK’s Central North Sea within four years, says HLIB.
HLIB also considers Hibiscus to be a “compelling investment opportunity that is clearly undervalued”, especially considering its strong position in the upstream energy sector. “Subject to the field development plan submission and regulatory approval process, management has indicated it will approximately take 12 months from submission date to reach the final investment decision ,” it said.
“Although the production rate of the oil field is still uncertain at this juncture, we think it will substantially elevate Hibiscus’ net production due to the sizeable 2C resources within the field,” HLIB said.
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