Our milestones to date

  • Norway: The drilling of the horizontal test production well of the Rolvsnes discovery is completed successfully, with drilling results showing good reservoir productivity and connection to a good oil volume, and production rate of up to 7,000 barrels of oil per day
  • Norway: Awarded one North Sea licence in the Awards in Pre-defined Areas (APA) Round
  • Norway: 20% participating interest in non-core licences - PL762 in the Norwegian Sea and PL850 in the Barents Sea - are divested
  • US: Rex International Holding disposes of its entire holding of 30.29% in FRAM Exploration AS, the Group’s available-for-sale investment
  • Trinidad & Tobago: Rex International Holding subsidiary divests its entire holding of 25.72% in Steeldrum Oil Co. Inc., an available-for-sale investment
  • Oman: The Karamah#1 well is drilled; further proving prospectivity and presence of an active petroleum system in Block 50
  • Oman: Rex International Holding injects capital into Masirah Oil Ltd, increasing effective interest to 92.24%.
  • Norway: Lime Petroleum Norway AS is renamed Lime Petroleum AS
  • Norway: Awarded five new licences in the Awards in Pre-defined Areas (APA) Round
  • Norway: Participated in drilling of one well in the North Sea
  • Norway: Rex International Holding injects capital into Lime Petroleum Norway, increasing effective interest to 99.24%
  • Oman: Drilling of the Manarah-1 well confirms presence of source rock and petroleum system in the block
  • Group: Rex International Holding sells part of the Group’s majority stakes in Lime Petroleum Norway and Masirah Oil Ltd to Schroder & Co Banque S.A., paring down the Group’s then effective stakes in the two companies to 89.24% and 67.03% respectively
  • Oman: Rex International Holding injects capital into Masirah Oil Ltd, increasing effective interest to 78.68%
  • Oman: The Exploration and Production Sharing Agreement (EPSA) for Block 50 is extended for another three years to March 2020
  • Norway: Extension of credit facility of NOK400 million (about US$46 million) for two more years from December 2016 is secured
  • Trinidad & Tobago: Rex International Holding subsidiary’s stake in Steeldrum Oil Company Inc. is lowered to 25.72%
  • Norway: Awarded one new licence in the Pre-defined Areas (APA) Round and increases stakes in two licences
  • Norway: Participated in drilling of five exploration wells
  • Rex Virtual Drilling: Version 2 is developed; with improved depth resolution in the analysis of seismic data
  • Trinidad & Tobago: Assets merged into a new entity, Steeldrum Oil Company Inc.
  • Group: Raises S$95.78 million in a private placement of 168 million new shares
  • Group: Acquires all rights to Rex Technologies: Rex Gravity, Rex Seepage and Rex Virtual Drilling
  • Oman: Oil discovery is made; confirmed by positive flow test results
  • Oman: The Exploration and Production Sharing Agreement for the Block 50 is renewed
  • Norway: Awarded interests in five new offshore licences in the Awards in Predefined Areas (APA), acquired stakes in three new licences and dropped three other licences following extensive geological and technological studies
  • US: The Group streamlines its holdings in the US
  • Group: Debuts on Catalist, Singapore on 31 July 2013
  • Group: Raises net proceeds of S$50.5 million through placement of 70 million new shares
  • Group: Grows portfolio from interests in 10 licences in three regions (Norway, the Middle East and the US) to 17 licences in four regions – adding Trinidad & Tobago - within a five-month period from IPO to end of 2013
  • Oman: First offshore well is drilled in Block 50