This announcement is made in compliance with Paragraph 6.0 of PN32 of the Main Market Listing Requirements which requires results of a report by a Competent Person.
Hibiscus Petroleum and its subsidiary ("Hibiscus Group"), had appointed Tetra Tech RPS Energy Limited ("TTRPSE") to undertake an independent reserves and contingent resources evaluation on the following assets:
(i) a 50% participating interest in the North Sabah Fields, comprising the St Joseph, South Furious, SF 30 and Barton oil fields, located approximately 33km from Kota Kinabalu, Sabah ("North Sabah"), held by SEA Hibiscus Sdn Bhd ("Sea Hibiscus");
(ii) a 60% participating interest in the Kinabalu block located offshore Sabah, Malaysia ("Kinabalu"), held by Hibiscus Oil & Gas Malaysia Limited ("HML");
(iii) a 65% participating interest in the PKNB cluster PSC, comprising four discovered gas fields - Pertang, Kenarong, Noring and Bedong, located in shallow waters offshore the east coast of Peninsular Malaysia ("PKNB"), held by HML;
(iv) 35% participating interest in the PM3 CAA block located within the Commercial Arrangement Area ("CAA") between Malaysia and Vietnam ("PM3 CAA"), held by Hibiscus Oil & Gas Malaysia (PM3) Limited ("HMPM3") (12.7%) and HML (22.3%);
(v) Great Marigold Field Development, comprising:
- a 91.25% interest in the Marigold Field Development in Licence No. P198, Blocks 15/13a and P2158, Block 15/18b in the UK North Sea;
- a 87.5% interest in the Sunflower Field Development in Licence No. P198, Block 15/13b in the UK North Sea;
- a 100% interest in Crown Field Development in Licence No. P2608, Block 15/18a & 15/19a in the UK North Sea;
- a 100% interest in Kildrummy Field Development in Licence No. P2518, Block 15/12a & 15/17a in the UK North Sea; and
(vi) a 100% interest in the Teal West Development in Licence No. P2535 Block 21/24d in the UK North Sea ("Teal West").
(collectively referred to as "Assets Reports")
The Assets Reports were prepared to provide an updated assessment of the reserves and resources as at 1 January 2026. As the CPRs for Anasuria Cluster and the Maharajalela Jamalulalam Field were completed in August 2025, these assets were not updated as part of the current exercise.
The Company is pleased to announce a summary of the Assets Reports prepared by TTRPSE, as contained in the attachment.
This announcement is dated 22 May 2026.