PETALING JAYA: Hibiscus Petroleum Bhd’s indirect wholly-owned subsidiary, Peninsula Hibiscus Sdn Bhd, has received a waiver/expiry of pre-emption rights from Spanish oil and gas company Repsol Exploración, SA.

       In a filing with Bursa Malaysia, Hibiscus said the condition precedent formed part of the approvals required in respect to the conditional sale and purchase agreement entered into by the group with Repsol for the proposed acquisition of the entire equity interest in Repsol’s subsidiary Fortuna International Petroleum Corp.