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2014

9 December Times of Oman: Oman should focus more on offshore oil and gas production

4 December Scandinavian Oil & Gas Magazine: Masirah Oil commissions 3D seismic survey in Block 50 Oman

3 December Oil & Gas Technology: Dolphin performing Oman offshore shoot for Masirah Oil

“”We are pleased to note that plans for Block 50 Oman are on track,” said Dan Brostrom, executive chairman of Rex International Holding. Given that Block 50 Oman covers a large area of close to 17,000 square kilometres, information from the seismic survey will value-add to the extended well testing and multi-well campaign targeted to be carried out in the block in 2015 and 2016.””

3 December Oman Observer: Masirah Oil launches new 3D seismic survey of Block 50

Dan Brostrom, Executive Chairman of Rex International Holding, said, “We are pleased to note that plans for Block 50 Oman are on track. Given that Block 50 Oman covers a large area of close to 6,563 square miles (17,000 square kilometres), information from the seismic survey will value-add to the extended well testing and multi-well campaign targeted to be carried out in the block in 2015 and 2016.”

18 November Energy-Pedia: Australia: Rex International acquires stake in VIC/P57, offshore Gippsland Basin

8 October Rigzone: Rex Completes Acquisition of Stakes in 2 Licences Offshore Norway

8 October NextInsight: Rex International – Big Investors Up Stake to Fund Expansion

8 October Mentor IMC Group: NOC Contract for Rex International Holding

“Dan Brostrom, executive chairman of Rex International Holding, commented: “A first contract with an NOC is a notable achievement for Rexonic, as the potential for an expansion in the scope of coverage for the well stimulation technology is promising.””

October 7 ShanghaiDaily: Singapore Stocks end down 0.28 pct

 

6 October Oil & Gas Technology: Rexonics Nets Maiden Well Stimulation Contract with Unknown National Oil Company

“”We are heartened to see the fruition of Rexonic’s commercialisation plans, following months of hard work by the management team,” said Dan Brostrom, executive chairman of parent company Rex International Holding.”.. “A first contract with an NOC is a notable achievement for Rexonics, as the potential for an expansion in the scope of coverage for the well stimulation technology is promising. Synergies with Rexonic’s technology, such as using Rex Virtual Drilling to prioritise which production well to stimulate first, can be further progressed. We can also tap on each other’s business network to further grow out respective portfolios.””

 

3 October Business Times: Rex Unit Secures Deal From National Oil Firm

“”We are heartened to see the fruition of Rexonics commercialisation plans, following months of hard work by the management team,” said Rex’s executive chairman Dan Brostrom. “A first contract with an NOC is a notable achievement for Rexonic, as the potential for an expansion in the scope of coverage for the well stimulation technology is promising.” There are synergies with Rexonic’s technology such as using Rex Virtual Drilling to prioritise which production well to stimulate first, he added. “We can also tap on each other’s business network to further grow our respective portfolios.””

23 September Straits Times: Company Briefs - Rex International Holding

23 September Business Times: Company Briefs – Shareholding Changes at Rex International

17 September Business Times: Brokers Take (DBS Vickers Research) - Rex International Holdings

“Buy” maintained with adjusted TP of S$1.05

11 September The Edge: Rex International wins Offshore Discovery of the Year award for discovering Block 50 Oman

“Hans Lidgren, Chairman of Masirah, said, “We are very honoured to be recognised for our oil discovery in Block 50 Oman and are pleased to contribute to the deepening of knowledge about the offshore area in the east of Oman, where no discovery has been made before this. Together with our shareholders Rex International Holding Limited in Singapore, Hibiscus Petroleum Berhad in Malaysia and PETROCI, the National Oil Company of Côte d’Ivoire, we look forward to continue to work closely with the Ministry of Oil and Gas in Oman to prove up more value in our asset.”

Dan Broström, Executive Chairman of Rex International Holding, said, “We view this award as another feather in the cap for our proprietary direct hydrocarbon indicator, Rex Virtual Drilling, and are encouraged by the increased interest from new and existing partners who want to work with us. We note that in the Ministry of Oil & Gas’ early August invitation to oil and gas companies to participate in the upcoming Oman Bid Round 2014, two of the five concessions are offshore, and one of them is adjacent to Block 50 Oman.””

11 September Business Times: Rex International Unit Gets Award in Oman for Offshore Discovery

 

3 September Upstream: Rex Takes Control

3 September Rigzone: Rex International Holding Acquires Ownership of Rex’s Technologies

” Dan Brostrom, executive chairman of Rex International Holding, said, “Over the past year since our listing in July 2013, we have received feedback from many investors, their preference for our key differentiator, the Rex Technologies and specifically, Rex Virtual Drilling, to be housed in the listed entity. We are heartened by our founders’ and majority shareholders’ unstinting support in agreeing to have RTM included under Rex International Holding’s auspices, after considering the potential value creation that will result from the Group’s direct ownership of the Rex Technologies, as compared to being an exclusive licensee; while preserving the strict confidentiality of how the technologies work.” “Having RTM under the Group will allow us to bolster our value offering, over and above our portfolio of high quality assets scanned with Rex Virtual Drilling, as we will have complete control over the use of the proprietary Rex Technologies. RTM will immediately contribute attractive recurring income from their existing contracts. There remains much potential for future research and development advancements for the Rex Technologies.” Brostrom added.”

” Hans Lidgren, one of the founders of Rex International Holding and head of technology development at RTM, said, “We are committed to giving Rex International Holding full support for it to achieve its vision to be a leading independent exploration and production company that has an international portfolio of concessions, selected using our proprietary Rex Technologies. The RTM team is excited to join the Rex International Holding family and looks forward to even closer collaboration going forward.””

 

 

3 September Business Times: Rex International to fully acquire exploration technologies

“Dan Brostrom, executive chairman of Rex International Holding, said: “Over the past year since our listing in July 2013, we have received feedback from many investors. Their preference is for our key differentiator – Rex Technologies and specifically, Rex Virtual Drilling – to be housed in the listed entity. RTM will immediately contribute attractive recurring income from its existing contracts. There remains much potential for future research and development advancements for Rex Technologies.””

14 August Rigzone: Rex International Holding Adds New Technology to Detect Hydrocarbons

“Hans Lidgren, who heads technology development at RTM, said, “RGI will be a complementary technology to Rex Virtual Drilling (RVD). With the addition of RGI to our already powerful suite of technologies, we can now search for the full spectrum of hydrocarbons in both liquid (including oil and condensate) as well as gaseous phases.” … Dan Brostrom, executive chairman of Rex International Holding, said, “RVD, which focuses on liquid hydrocarbons, paved the way for our Company’s success in obtaining stakes in concessions and discovering oil in Oman. We are excited about the development of RGI as it will allow us to engage with a new enlarged market and seize further opportunities for discovery within our existing assets. In the past, we have been forced to decline several opportunities in the gaseous hydrocarbon domain as we have not been able to properly derisk those assets. With RGI, we can now achieve proper de-risking before making significant investments. Current global natural gas reserves total approximately 6,100 trillion cubic feet, according to US Energy Information Administration (EIA) estimates. Of these, roughly half are considered to be stranded, that is, uneconomic to deliver to market. Initial feedback from our partners has been very encouraging.””

17 July The Business Times: Rex Sells Trinidad working interest to Leni Oil & Gas

 

“Rex’s chief executive officer Måns Lidgren said in yesterday’s announcement: “While the field is a conventionally attractive assert, it does not fulfil our investment criteria as it is not covered with adequate recent 3D seismic data to be effectively derisked with RVD. We are pleased that the field fits well into LGO’s operations and growth plans in Trinidad.””

23 June The Edge: Riding Hot Oil Stocks

“This is a very high-risk industry where only 10% to 15% of the wells drilled contain oil or gas and the rest are dry. But compared with other players, we have a much lower risk because we use satellite technology that allows us to generate higher –resolution maps and zoom in on relevant areas where there is potential to find O&G.” … “Because of this edge in knowing where to explore for oil, we are able to look at a lot more opportunities compared with other companies. Last year, we looked at more than 100 potential contracts. This year, we plan to look at 200 in selected jurisdictions, and we are striving for a success rate of 50%. We will continue to focus on adding exploration assets to our portfolio, but will also look at producing assets that can generate income in fiscally attractive jurisdictions,” says Måns Lidgren, CEO of Rex International.

6 June World Oil: Lime Petroleum Norway to get stakes in two more licences from North Energy

“Mr Måns Lidgren, Chief Executive Officer of Rex International Holding, said, ‘Rex Virtual Drilling has detected promising prospects in these two licences and we have also validated the findings with geological datasets. Although small, we are keen to take on the 5 per cent stakes in these licences as drilling will start as early as the first half of next year.’”

6 June Upstream Online: Singapore-listed Rex International has taken a 5% interest in two licences in Norway through its subsidiary

6 June The Edge: Rex International Holding and its subsidiaries announced that their jointly-controlled entity, Lime Petroleum Norway has signed an agreement with North Energy to acquire 5% stakes in two additional licences in Norway.

6 June Energypedia: Norway: Lime Petroleum acquires interests in PL591 and PL591B from North Energy

19 May XINMSN: Rex International in talks with companies in Norway

“Singapore-listed Rex International says it’s in talks with renowned industry players in Norway to grow its asset base significantly. The Company says it will use its proprietary technology to add value to the oil exploration and production activities there. Rex says the steady growth and creditability of the technology have allowed the company to engage with multiple parties, who are much larger in terms of market capitalisation and with established track records. Rex believes Norway will be a key market for the group, going forward.”

14 May Singapore Business Review: Rex International Holding promotes Per Arne Lind to CFO

13 May Energy-pedia: Australia: Rex International signs HOA to acquire a stake in VIC/P57, offshore Gippsland Basin

“Mans Lidgren, CEO of Rex International Holding, said, ‘We are very pleased that our proprietary Rex Virtual Drilling technology is a key contributing factor to HIREX’s participation in the VIC/P57 concession, indicating an increased acceptance of our ground-breaking technology among exploration and production players around the world. HIREX’s entry into Australia as its first project reflects the versatility of Rex Virtual Drilling, which can be applied in different geologies, geographies and applied to both onshore and offshore liquid hydrocarbon exploration.’”

13 May 4-traders: HIREX signs HOA for 20% in Offshore Licence in Australia

8 May Breaking News Trinidad and Tobago: Singapore Oil Company Spuds its First Onshore Well in T&T

5 May Gulf Oil and Gas: Rex Spuds its First Onshore Exploratory Well in Trinidad

“Rex International announced that its 64.17% owned licence-holding company Caribbean Rex limited, spudded its first onshore well in its Cory Moruga concession in Trinidad & Tobago on 29 April 2014. This is the first of a five-well onshore drilling programme that Caribbean Rex is undertaking in 2014 in its South Erin and Cory Moruga concessions… The location of all five wells have been selected using Rex Virtual Drilling (“RVD”) analysis made on 3D seismic data of the concession in tandem with conventional geological interpretation of seismic data and well data for purposes of quality control and reality check.”

5 May MBendi: Rex International Spuds its First Onshore Exploratory Well in Trinidad

5 May 4-traders: Rex: Spuds its First Onshore Exploratory Well in Trinidad

5 May Energy-Pedia: Trinidad: Rex International Spuds its First Onshore Exploratory well in Trinidad

5 May Rigzone: Caribbean Rex Spuds Well at Cory Moruga Concessions in Trinidad and Tobago

5 May Upstream Online: Singapore-listed Rex International has Spudded its First Onshore Well at the Cory Moruga Concession in Trinidad & Tobago

5 May The Edge: Rex starts drilling first onshore well in Trinidad & Tobago

21 Apr Rigzone: Rex International Holding Provides Updates on Upstream Portfolio

“Mans Lidgren, CEO of Rex International Holding, said, “Over the past eight months since our listing July 31, 2013, we have delivered on growing our portfolio of concessions, expanded our Geographical footprint, added to our suite of technologies and made and oil discovery. With this update, we wish to give investors some guidance on the dynamics of our portfolio, our strategy to leverage on our proprietary technologies and to minimize capital outlay, so that investors can better understand the Company’s strategy for each underlying asset in the short term. In line with industry practice, we intend to focus on concessions in our portfolio where we have seen recent success and continue to see significant potential.””

17 Apr ShareInvestor Express: Rex gives summary on its portfolio and update on its investment strategy and roadmap

14 Apr Upstream Online: T&T plan set in stone

“Singapore-listed Rex International has announced its plans for a five-well onshore drilling campaign in Trinidad & Tobago…Rex International chief executive Mans Lidgren said Trinidad & Tobago would be the focus of the company’s 2014 drilling programme, besides the Middle East and Norway…”With the increased production from the new wells, we are well placed to reap more benefits from the new legislation that allows us to offset all revenue generated from oil production against exploration expenses.”

“Chief operating officer Kristofer Skantze said the South Erin Block concession is of particular interest to the company because of its exploration potential…”Although Trinidad is known to be an oil-prolific area, there has only been one light oil discovery from onshore exploration in the past 50 years, owing to the region’s complex geology…We are confident that our proprietary technologies will give us an edge to tap these under-developed exploration opportunities.”

12 Apr Lianhe Zaobao: Rex International’s jointly controlled entity to start onshore drilling plan

21 Mar The Edge: Mapletree Industrial Trust, Rex, Ascott

21 Mar Xinhua: Roundup: Singapore stocks end up 0.53 pct

“Rex International gained 1.7 per cent to 61 Singapore cents. It announced that North Energy, in which the Group holds an approximate stake of 5.35 per cent, will commence drilling campaigns at two of its licenses in the third and fourth quarters of 2014. North Energy is using Rex Virtual Drilling in high grading possible drilling targets in its portfolio.”

6 Mar Sea Discovery: First successful flow test from east of Oman in 30 years

“Masirah Oil Limited announced the testflow rates of the previously announced discovery at the second exploration well in Block 50 Oman, were very encouraging…During a 48-hour test, hydrocarbons were flowed to the surface and the well achieved light oil flow rate of up to 3000 stock tank barrels per day (stb/d) with no water production. This is the first offshore oil discovery in the east of Oman after more than 30 years of exploration activities.”

“Hans Lidgren, Chairman of Masirah, said, “The second exploration well produced at high and stable rates…The successful testing will allow us to deepen our knowledge and understanding of the offshore geology in the east of Oman and assist in our decisions on our further exploration, appraisal and development plans for this 17,000-square-kilometre block… We are very pleased and honoured to be granted the concession extension to proceed with the Second Phase of our work programme for Block 50 Oman…”

“Dan Brostrom, Executive Chairman of Rex International Holding, said, “The test result is a further confirmation of the strength and viability of Rex Virtual Drilling as a tool to find hidden oil deposits. We will continue to leverage on our proprietary hydrocarbon indicator as we work to grow our reputation and presence in the world. We have an intensive year ahead of us with activities in all our markets and we look forward to be able to participate in more discoveries in the future.””

17 Feb Shares Investment: Stocks in Focus

“Rex International subscribed for NOK24 million (approximately US$3.8 million) worth of North Energy shares at NOK4 per share, under a NOK285 million private placement by North Energy. Upon completion, Rex will hold 6 million North Energy shares, representing approximately 5.35 per cent interest in the enlarged issued and paid-up share capital of North Energy. The move is a vote of confidence on the potential of North Energy’s exploration assets which are profiled by Rex’s proprietary Virtual Drilling technology.”

10 Feb The Edge Singapore: Rex International hits oil in Oman, banks on Rexonic’s technology

“…Lidgren points out that despite all the publicity and press announcements, it is not the first time the technology has successfully detected oil. We know our technology is working. Our partners know it is working,” he says. “So, this was more for the public view. It shows that it works and that it can detect oil. This is an important milestone.”

“In another significant development, Rex is also moving downstream with its joint venture company Rexonic AG, owned in part by Ogsonic AG. Rexonic owns proprietary technology that uses high-power ultrasound for commercial oil well stimulation, and Rex will help service and license that technology to customers… Loke of UOB Kay Hian believes Rexonic’s technology could gain acceptance among oil-production companies as the concept has already been used in other industries, and expects the JV to provide a good source of recurring income for Rex. She is maintaining her “buy” recommendation on Rex with a price target of $1.27.”

6 Feb E&P: Masirah discovers oil in Oman

“Rex International Holding, a Singapore-listed E&P firm, and its subsidiaries referred to the Feb 3 press release issued by Masirah Oil Ltd., a 64% indirectly owned subsidiary of its jointly-controlled entity, Lime Petroleum Plc, which announced the successful reach of the well target depth in the second exploration well in Block 50 in Oman to its final depth of more than 3,000 m (9,842 ft) into the Cambrian formation. Hydrocarbons were discovered in several formations with good oil samples extracted.”

5 Feb Rigzone: Masirah discovers oil at Block 50 offshore Oman

5 Feb Muscat Daily: Masirah claims oil discovery in Block 50

5 Feb Oman Bulletin: Masirah claims oil discovery in Block 50

“Hans Lidgren, chairman of Masirah Oil, said, “The discovery of hydrocarbons in the second exploration well is a significant step towards the deepening of our knowledge and understanding of the offshore geology in the east of Oman, where no discovery has been made before.””

5 Feb Straits Times: Rex International shares shoot up on fresh Oman oil discovery

“Rex shares jumped five cents, or 8.3 per cent, to 65 cents – quite a feat in a bearish market…Mr Lidgren is quick to add that Rex International, whose global headquarters are in Singapore, is not a “one-asset” company. “We came to market (listed on Catalist around July 2013) with 10 licences in four geographies and many partners,” he said. Now that the company has surpassed its target of having 20 licences under its belt within a year of listing, he said it will set another fresh goal for the year.”

5 Feb Business Times Singapore: Rex jumps on news of Oman hydrocarbon find

“Defying a weak market, Swedish oil and gas exploration firm Rex International’s shares rose 8 per cent to 65 cents yesterday amid heavy trading, after it said that a joint-venture unit had found hydrocarbons in a second exploration well in Oman. The discovery, made using the Rex Virtual Drilling technology, is a testament to the accuracy of Rex’s direct hydrocarbon detector, said its executive chairman, Dan Brostrom.”

4 Feb Marine Link: Oil discovered in second Oman exploration well

4 Feb The Star Malaysia: Rex International confirms hydrocarbons found in Oman

4 Feb Straits Times Online: Rex International outperforms nervous Singapore market

29 Jan SGX Market Updates: Recent highlights of the Catalist Board

“There are nine stocks with market capitalisations above S$200 million, the largest of which are Rex International, Charisma Energy Services and Singhaiyi Group…Over 127 trading days last year, the stock (Rex) generated a trading turnover of S$1.11 billion, which implied an average daily turnover of S$8.8 million.”

22 Jan Straits Times: Rex International joint venture awarded 5 new offshore licences in Norway

“The licences were identified using Rex Virtual Drilling, a direct hydrocarbon indicator, said Lime Norway’s chief executive Ivar Aarseth. He added that the group “[looks] forward to working with established operators in the mature Norwegian Continental Shelf E&P arena, a well-known oil-prolific region.””

22 Jan Business Times Singapore: Rex’s Norwegian unit secures 5 new licences

“Rex International on Wednesday announced that its 65-per cent indirectly owned unit, Lime Petroleum Norway AS, has been awarded five new offshore licences in the 2013 Awards in Predefined Areas (APA 2013) by Norway’s Ministry of Petroleum and Energy…”We have already within the six-month mark of our listing in July 2013, surpassed our 12-month goal of growing our portfolio to 20 licences, from the initial 10 licences,” said Rex International CEO Mans Lidgren. He added that the company will keep trying to grow its portfolio with even more geographic diversity to mitigate investment and operational risks.”

8 Jan Straits Times: Company briefs – Rex International Holding

“Masirah Oil, a unit of Rex International Holding’s subsidiary, says drilling works for a second exploratory well in Oman have started, with a target depth of 2,500m. Rex International shares closed up 2.5 cents at 61.5 cents yesterday.”