<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 24): Hibiscus Petroleum Bhd net profit for the third quarter ended March 31, 2017 fell to RM6.49 million from RM80.5 million a year earlier.</p></div>

<div class=newsTextDataWrapInner><p>In a filing to Bursa Malaysia today, Hibiscus said revenue for the quarter rose to RM69.24 million from RM31.78 million a year earlier.</p></div>

<div class=newsTextDataWrapInner><p>Earnings per share was 0.45 sen compared to 7.32 sen a year earlier.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>For the nine months ended March 31, Hibiscus posted net profit RM97.44 million from net loss RM78.91 million a year earlier.</p></div>

<div class=newsTextDataWrapInner><p>Revenue for the period jumped to RM186.81 million from RM32.98 million in 2016.</p></div>

<div class=newsTextDataWrapInner><p>Reviewing its performance, Hibiscus said that operationally, over 273,000 barrels of oil produced from various fields within the Anasuria Cluster were sold at an average realised oil price of US$52.95 per barrel.</p></div>

<div class=newsTextDataWrapInner><p>It said the average production rate for the quarter stood at approximately 2,900 barrels of oil equivalent (“boe”) per day.</p></div>

<div class=newsTextDataWrapInner><p>Hibiscus said this put the average production rate for the financial year to date to about 3,500 boe per day, above planned production rates for the year.</p></div>

<div class=newsTextDataWrapInner><p>“Other significant performance indicators reported were that operating expenditure per boe was circa US$15.12, underpinned by average facilities uptime of about 76%,” it said.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


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