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2013

19 Dec, Straits Times: Company briefs: Rex International Holding

 

9 Dec, Lianhe Zaobao: Oil & Gas stocks turn in good performance this year

9 Dec, The Edge: Corporate: Undervalued IPOs with promising prospects, small caps draw interest, says Deloitte’s Kan

“Of the top five IPOs in Singapore in 2013, we noted that the companies with the most merger & acquisition (M&A) activities after listing fared the best,” Ernest Kan, chief of operations for clients & markets of Deloitte Singapore, tells The Edge Singapore. “It seems to us that investors also responded better to companies with clear prospects as well as those which were undervalued…Also on the top five list are…Rex International Holding…which has gone up…28%…since going public.”

7 Dec, Straits Times: US good news is ‘bad news’ for STI

 

5 Dec The Edge: Rex International unit to acquire 20% stake in new licence in Norway

“Dan Brostrom, Executive Chairman of Rex International Holding, said, “PL509 has been reviewed using Rex Virtual Drilling and we are very excited about the prospects there. The licence holders will make a decision whether to drill an exploration well in the licence by mid-2014. We anticipate that Lime will be able to grow its portfolio up to 15 licences in 2014, through farm-ins and when the annual Awards in Predefined Areas (APA) in mature parts of the NCS are announced by the Norwegian Ministry of Petroleum and Energy, expectedly in late January 2014.””

5 Dec, Straits Times: Company briefs – Rex International

 

2 Dec, The Edge: Brokers’ Digest

“Rex International Holding (Nov 27: 66 cents)…MAINTAIN BUY…Our price target for Rex is…$1.15… – DBS Vickers Securities (Nov 22)”

27 Nov, Business Times: Rex International gets 1.21m Fram shares worth US$7m

 

26 Nov, Business Times: Lime Petroleum begins drilling its first well in Oman

 

26 Nov, NextInsight: REX: Kick-starts unprecedented drilling campaign with Oman well spud

“Executive Chairman Dan Brostrom: “After our IPO, many investors approached us to buy more shares in Rex International. As the IPO share allotment had not been fully taken up, we decided on a placement at 75.5 cents, 51% higher than our 50-cent IPO price. With the additional monies, we can participate in opportunities that arose after the IPO…”

““We intend to have 5 to 7 offshore drilling campaigns next year,” said Mr Brostrom. This could mean a phenomenal FY2015 performance for Rex International when oilwell sale proceeds roll in. This rate of drilling campaigns is unprecedented among its E&P peers, and is possible only with Rex International’s unique business model.”

“”Four months after listing, we have already grown our portfolio to 15 concessions, beating our target. We have spudded Oman according to schedule. With the added proceeds from our recent placement, we are well capitalised for our expansion plans and for our upcoming drilling campaigns,” added Mr Brostrom.”

25 Nov, MarineLink.com: Rex International joint entity spuds first well in Oman

 

23 Nov, NextInsight: DBS Vickers highlights catalysts for stock price of Rex International

Maintain BUY for 85% upside potential. Our TP for Rex is adjusted down to S$1.15, as we factor in a bigger share base arising from the recent share placement, as well as consideration shares issued to fund the acquisition of the Rexonic stake and an additional stake in Rex Caribbean. However, we believe the story for Rex remains intact, as highlighted above, and the recent sell down thus presents a good buying opportunity. “

21 Nov, MarineLink.com: Lime Petroleum receives approval for acquisition

 

21 Nov, E&P Magazine: Lime Petroleum farms in to Barents Sea licenses

 

21 Nov, Business Times: Rex unit gets nod for Norway offshore deal

 

21 Nov, The Edge: Rex International’s subsidiary receives approval for acquisition of 10% in two licences in Norway

“Both licences have undergone screening and analysis of seismic data using Rex Virtual Drilling. Analysis done with Rex Virtual Drilling indicates the presence of hydrocarbons in these concessions.”

21 Nov, Straits Times: Oil and gas explorer Rex International Holding secures two licences in Norway

 

20 Nov, Business Times Sweden Special Report: Rex International Holding aims to ‘change the game’ in oil exploration

 

16 Nov, NextInsight: Rex: Recurring income from JV in oil production service

““There is technical synergy as both joint venture partners deal with green technology: Acoustics instead of chemicals, unlike conventional service providers. We can also cross-sell to each other’s customers,” said Mr Skantze.”

12 Nov, Business Times: Rex Int’l added to MSCI small-cap index

 

29 Oct, Lianhe Zaobao: Rex International and Swiss firm in joint venture for oil production technology

 

28 Oct, Channel NewsAsia: Rex International announces proposed placement of 70 million new shares

 

21 Oct, The Edge: Banking on exclusive exploration technology to help detect oil wells

“Rex International Holding has been one of the more successful IPOs in the past year and the stock looks like it could still go higher…Since its listing, Rex International has gone up by 45% to 82 cents on Oct 14, or 4.34 times its book value. The price had touched a peak of 93 cents on Sept 24. Sakar (DBS Vickers) has a “buy” call on the stock with a price target of $1.27, which implies about a 50% upside at its current price.”

30 Sep, The Edge Singapore: Brokers’ Digest – Rex Int’l Holdings (Sept 25: 91.5 cents)

“BUY (initiating coverage)…Based on an SOTP valuation using conservative chances of success, we arrive at a price target of $1.27 for RIH, which implies close to 50% upside at current levels. – DBS Vickers Securities (Sept 24)

24 Sep, Business Times: Brokers’ Take – Rex International Holding

 

19 Sep, RigZone: Rex’s unit to acquire stakes in 2 exploratory licences off Norway

“Mans Lidgren added, “North Energy had recently shared in their second quarter results presentation, that they had analysed 59 prospects using Rex Virtual Drilling over the past two years. Out of the 41 wells which had been drilled since, 35 predictions by Rex Virtual Drilling were spot on. This 85 per cent success rate (96 per cent success in predicting dry wells in 24 out of 25 drillings and 69 per cent success in predicting presence of commercial oil in 11 out of 16 drillings) is strong validation of our technology’s effectiveness.””

19 Sep, Lianhe Zaobao: Rex International to acquire 10% stakes in 2 new oil exploration licences

 

19 Sep, Business Times: Rex to receive stakes in 2 more licences
18 Sep, The Edge Singapore: Rex International receives 10% stakes each in two new exploratory licences in Norway

“Mans Lidgren, CEO of Rex, said, “North Energy received the second largest award of licences in this licensing round in Norway, and we are privileged to be able to tap on our strong working relationship with them to participate in two of the most exciting and valuable licences in the area.”

18 Sep, Biz Daily Rex: International clinches stakes in 2 licences

“Rex International Holding Limited Wednesday announced that indirectly owned subsidiary Lime Petroleum Norway will receive 10 per cent stakes in two exploratory licences in Norway from North Energy ASA…No consideration is needed to be paid for the transfer of the 10 per cent stakes, which is pending regulatory approval.”

18 Sep, BTinvest: Rex: To acquire stakes in 2 more licences in Norway

 

2 Sep, Business Times: A tale of IPOs in two cities

 

21 Aug, Lianhe Zaobao: Rex International and Pareto Staur Sign Agreement for Oil Exploration Licences in Trinidad & Tobago

 

21 Aug, SGX Market Updates: Recent turnover highlights of Minerals, Oil & Gas

“The liquidity of the MOG companies…Two of the most active MOG stocks in the quarter to-date including the Initial Public Offerings (IPOs) of Kris Energy and Rex International.”

19 Aug, Upstream Online: Aban Awarded Oman Gig

“Jointly-owned explorer Lime Petroleum has awarded India’s Aban Offshore a contract related to its drilling programme on the Block 50 concession in Oman. Lime will charter the jack-up drilling rig Aban VII for a minimum of 50 days to drill at least two exploration wells on the concession…Lime is a jointly-owned company between Rex International, Hibiscus Petroleum and Schroders.”

7 Aug, SGX Market Updates: 18 IPOs in ‘13 average 18% gain from offer price’

 

1 Aug, Lianhe Zaobao: Rex International Closes 13% Higher than IPO Price on First Trading Fay

 

31 Jul, CNBC Asia, Squawk Box: Interview with Rex International CEO Mans Lidgren

 

29 Jul, Energy Asia: Singapore – Oil explorer Rex International Oil aim to raise more than S$85 million in Catalist listing

“Rex said it has lined up an “active drilling and portfolio growth” programme in the US, Middle East and Norway over the next 24 months while screening for opportunities in Southeast Asia, Australia and New Zealand.”

29 Jul, The Edge Singapore: Rex Banks on Satellite and Seismic Data Technology in Oil Exploration Business

“Rex’s origins go back to the 1980s when Karl and Hans Lidgren pioneered the use of satellite technology for oil exploration activities. The technologies they developed led to the discovery of oil fields in the Haltenbanken area in Norway and the Bukha field in Oman. Haltenbanken is now one of the major oil producing areas in Norway.”

23 Jul, Business Times: Rex Launches IPO; Hopes to Raise Up to $85.25m

 

23 Jul, Straits Times: Oil Firm Set for Catalist ‘Top 3’ Spot with IPO

 

23 Jul, Lianhe Zaobao: Oil Exploration Firm Rex seeks Listing in Singapore

 

23 Jul, Hydraulic Equipment: Rex Launches Singapore IPO to Raise $68M (SGD 85.25M)

“We have received strong institutional support for Rex International Holding,” Mark Liew, managing director, Corporate Finance of PrimePartners Corporate Finance Pte. Ltd., which is the manager, sponsor, and co-placement agent of the IPO said…”

23 Jul, Channel NewsAsia, Business Singapore: Interview with Rex International CEO Mans Lidgren

 

23 Jul, Bloomberg TV, On the Move: Interview with Rex International CEO Mans Lidgren

 

2 Jul, Business Times: Sweden’s Rex Int’l Seeks Catalist Listing