KUALA LUMPUR: Despite tracking the surge in crude oil prices over recent months, Hibiscus Petroleum Bhd remains a bargain with strong growth prospects in the coming quarters, says Hong Leong Investment Bank( HLIB) research. The research firm, which has initiated coverage on the company, said Hibiscus is" conspicuously undervalued" given its strong foothold in the upstream energy space.It expects an earnings boost from the acquisition of Fortuna International Petroleum Corp( FIPC) from Repsol Exp

PETALING JAYA: Rising crude oil prices would translate to higher earnings for exploration and production company Hibiscus Petroleum Bhd, which is in the midst of acquiring upstream assets worth hundreds of million ringgit.... PublicInvest Research estimates that Hibiscus’ earnings could grow more than 100% year-on-year in the coming quarters, thanks to the favourable crude oil prices, coupled with the expected earnings from “ Repsol assets ” from the first half of financial year 2022( FY22) onw

Hibiscus Petroleum Bhd is clearly riding nicely on the upcycle of oil prices.... And as Maybank Investment Bank( Maybank IB) Research points out, the profits have yet to take into account earnings from the recently completed acquisition of assets from Spain’s Repsol.“ Hibiscus will consolidate Repsol’s earnings from the third quarter of the financial year 2022( Q3‘FY22).... Hibiscus says this is a possibility.“ We paid a total dividend of 1.5 sen in respect of the financial year 2021....