HIBISCUS PETROLEUM BERHAD - PRESS RELEASE

Appointment of Roushan Arumugam as Non-Independent, Non-Executive Director

Kuala Lumpur, 25July 2011: Hibiscus Petroleum Berhad (“Hibiscus Petroleum” or “the Company”), is pleased to announce the appointment of Roushan Arumugam as Non-Independent, Non-Executive Director to its Board of Directors.

Roushan Arumugam, a Malaysian aged 39, is a corporate representative of a major shareholder of Hibiscus Petroleum comprising the combined interest of Littleton Holdings Pte. Ltd. and Sri Inderajaya Holdings Sdn. Bhd. He first graduated with a MA in English Language and Literature in 1994 from St. Catherine’s College, OxfordUniversity. Subsequently, in 1999, he obtained a Masters in Business Administration fromImperialCollegeBusinessSchool, ImperialCollege, University of London, and in 2005, he obtained a MA in Legal Studies (Qualifying Law Degree) fromthe University of Bristol.

Roushan commenced work in 1995 as an Internal Systems Risk Management Consultant at Price Waterhouse, London. In 1997, and he joined Caspian Securities Limited as an Analyst, Emerging Markets Equity Research. Roushan moved to Deutsche Bank A.G. London in 1999 as an Associate with its Investment Banking Division. Later, in 2001, he became a Manager in Debt Capital Markets Division at Nomura Advisory Services Sdn Bhd. Since September 2005, Roushan has been working as an Investment Consultant to the Tan Sri Arumugam Family Office.

Currently, Roushan serves as a Board member of South Pickenham Estate Company Limited, Pneumacare Limited and Sri Inderajaya Holdings Sdn. Bhd. He is also a Domus Fellow of St. Catherine’s College, University of Oxford and a Trustee of the East West Trust at St. Catherine’s College.

The Board of Hibiscus Petroleum Berhad said, “We are very pleased to welcome Roushan to our Board. We believe that with his experience in investment analysis and consulting, he brings valuable skills and expertise to our team. We look forward to his valuable input as the Company embarks on the next phase of acquiring companies, businesses or assets in the oil and gas exploration and production industry.”

Roushan Arumugamsaid, “We are pleased to be supporting the listing of Malaysia’s first Special Purpose Acquisition Company. Our investment decision was based on the quality of the Board and Management Team and the overall structure of the deal. We also like the opportunites in oil and gas industry and we look forward to this being a fruitful investment for us.”

Hibiscus Petroleum was listed on BursaMalaysia on 25 July, 2011.

For enquiries, kindly contact:

Head Office

HIBISCUS PETROLEUM BERHAD (798322-P)

Second Floor, Tower Block

SyedKechikFoundationBuilding

Jalan Kapas, Bangsar

59100 Kuala Lumpur

Tel : +6 03 20921300

Fax : +6 03 2092 1301

Investors and Media

Joyce Theresa Sunita Vasudevan (CFO)

Telephone: +60 13 365 7835

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