RH Petrogas Provides Update on 4Q Profit Guidance, Writes-Off $29M
The Group has made several successful discoveries from its exploration efforts. These include discoveries at the North Klalin and Southeast Walio fields, both located in the Basin PSC and where preparation of their Plan of Field Development (POFD) is currently underway, as well as the recent successful drilling of the offshore Koi structure located in the Island PSC, where a pre-FEED (Preliminary Front End Engineering Design) study is to be carried out. The successful development of these discoveries would add to the Group’s reserves and production going forward.
In the meantime, the Board wishes to advise shareholders of the Company and investors to exercise caution when dealing in the shares of the Company.
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