Hibiscus Petroleum: Sea Lion-1 Spud Drawing Near

Hibiscus Petroleum Berhad announced Friday that the spud date for the offshore Australia Sea Lion-1 exploration well, operated by the company’s wholly owned subsidiary Carnarvon Hibiscus Pty Ltd (CHPL), is expected by October 25.

The West Telesto (400’ ILC) has now been demobilized from its previous assignment and will be handed over to CHPL next week. The overall Sea Lion exploration drilling program is expected to take up to 30 days. Hibiscus Petroleum stated that the estimated prospective unrisked recoverable resources at the site are between 8 and 15 million barrels of oil “with a good probability of success”.

The drilling of the Sea Lion-1 exploration well was delayed last month due to adverse weather conditions, which prevented the handover of the West Telesto drilling rig. 

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