Lime farms into mid-Norway licenses

Hibiscus Petroleum’s joint venture subsidiary Lime Petroleum Norway has negotiated farm-ins to two licenses in the Norwegian Sea.

Offshore staff

KUALA LUMPUR, Malaysia --Hibiscus Petroleum’s joint venture subsidiary Lime Petroleum Norway has negotiated farm-ins to two licenses in the Norwegian Sea.

Assuming regulatory approvals, Lime will take 5% stakes held byNorth Energy in PL591 and PL591B. Tullow is the operator and majority equity holder in both cases.

The licenses are in water depths of around 300 m (984 ft) in theHalten area of the Norwegian Sea, and contain the Upper Jurassic Zumba prospect.

Exploration drilling is due to start in the first half of 2015.

6/6/2014

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