Reference is made to the Company’s Corporate and Business Updates dated 22 November 2022, 16 February 2023 and 24 May 2023.

Hibiscus Petroleum wishes to advise that Anasuria Hibiscus UK Limited (“AHUK”), an indirect wholly-owned subsidiary of the Company, has received the grant of consent for the Environmental Statement(“ES”) for the Teal West Development from the Offshore Petroleum Regulator for Environment and Decommissioning (“OPRED”), on behalf of the United Kingdom’s Secretary of State for the Department for Energy Security and Net Zero, on 7 July 2023. There were no conditions attached to the agreement to the grant of consent received.

It is expected that the decision on the Field Development Plan (“FDP”) will be received in due course following the grant of consent for the ES.

Further announcements will be made upon receipt of the FDP decision and/or at the appropriate time(s), where relevant.

This announcement is dated 10 July 2023.