By BERNAMA
Hibiscus Petroleum has announced that its jointly-controlled entity, Lime Petroleum plc, through its subsidiary, Masirah Oil Ltd, has begun drilling an exploration well in Masirah North North (MNN), Oman.
In a statement, Hibiscus Petroleum said this was part of a two-well drilling programme in the concession area.
“The MNN was selected for drilling after in-depth technical evaluation and verification using the proprietary Rex Virtual Drilling technology in addition to confirmations provided via conventional methodologies,” it said.
Hibiscus Petroleum acquired a 35% stake in Lime for US$55 million in April 2012.
Lime has a 64% participating interest in the Block 50 Oman concession, while Petroci Holding, the national oil company of Ivory Coast, has a 36% participating interest.
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