Hibiscus Petroleum’s wholly-owned entity, Carnarvon Hibiscus Pty Ltd (CHPL), has signed a rig share agreement for the drilling of an exploration well located in VIC/P57 offshore Australia.
The agreement is signed with Origin Energy Resources Ltd which intends to drill two wells prior to handing over the rig to CHPL. Under the agreement, CHPL will assume the services of the Seadrill West Telesto drilling rig, an independent leg cantilever jack-up rig, to spud and drill the Sea Lion exploration well after the Origin’s drilling activities. The drilling of the Sea Lion exploration well is estimated to take up to 30 days.