PETALING JAYA: Hibiscus Petroleum Bhd
’s acquisition of exploration and production (E&P) assets in Malaysia and Vietnam from Spanish oil and gas company Repsol Exploración, S.A. is value-accretive, especially given the current healthy oil price environment.
Analysts were generally positive over the development, with most maintaining their “buy” calls on the stock.
In a report, BIMB Securities Research said the acquisition which will cost US$212.5mil (around RM877mil) suggested that the company is delivering on its promise to acquire producing assets.
...