Asia
Velesto Energy Unit Bags Drilling Contract from Hibiscus Petroleum; Velesto Shares Gain 3%
Velesto Energy (KLSE:VELESTO) unit Velesto Drilling secured a drilling contract from Hibiscus Petroleum (KLSE:HIBISCS) for its offshore campaign, according to a Friday Malaysian bourse filing.Velesto's shares rose 3% while those of Hibiscus Petroleum climbed 2% in Monday's midday trade.The scope includes drilling services for eight plug and abandonment wells and one exploration well, with up to seven optional wells.Operations are scheduled to begin in May across the PM3 CAA oil and gas field and potentially North Sabah, Malaysia, if optional wells are exercised, the company said.
KLSE:HIBISCSKLSE:VELESTO
