28 December, Business Times: Rex unit gets extension of 400m Norwegian Kroner credit facility
“A unit of energy firm Rex International Holding has secured an extension of a 400 million Norwegian kroner (S$66.5 million) credit facility, Rex said in a Singapore Exchange filing on Tuesday. Lime Petroleum Norway's credit facility from Skandinaviska Enskilda Banken has been extended for two more years from December 2016, Rex said. It said the facility was first secured in December 2013 and renewed in March 2015, and has already been reduced from 700 million kroner to 400 million kroner.”
3 October SGX: Energy was the Strongest of the Sectors in September
"Outside the 10 largest capitalised stocks of Singapore's Energy Sector, Rex International ranked among the 10 actively traded stocks that saw the biggest increase in September volumes (compared to three month average volumes)."
5 September, The Edge Markets: Rex International says it remains a going concern; embarks on new cash-generating
5 September NextInsight: Rex International: In healthy cash position, aims to generate cash flow
"Rex shares appear to be grossly undervalued; given that the current market capitalisation of the Company is even less than the value of our liquid assets. The market has not price in any value for our proprietary technologies and our interests in licences, which include a discovery in Oman and another in Norway, both of which have the potential to be monetised over the medium term.".
6 July NextInsight: Subsidiary Lime Petroleum ordered to be wound up immediately
"In another development in the tussle between Rex International and a Malaysia-listed company, the High Court of the Isle of Man on 30 June (2016) ordered the immediate winding up of Lime Petroleum."
Dan Broström, Executive Chairman of Rex International, said, "the Company reiterates that it has always been confident that the Lime Directors have at all times acted consistently with their duties to Lime and is pleased that the Lime Directors have once again been fully vindicated by this latest judgment on the application to wind up Lime."
8 June NextInsight: Tastes Victory in first of three legal cases
""For the reasons I have referred to I am not persuaded that Gulf is acting in good faith. I am concerned, on the evidence and arguments presented that Gulf´s conduct and approach taints its good faith and I am not convinced that Gulf is acting with entirely "clean hands". Frankly, based on the evidence presented to me, I am of the view that Gulf has no real genuine interest in advancing the interests of Lime. I am of the view that Gulf simply wishes to advance its own interests and to damage those of Rex."
-- His Honour the Deemster Doyle”
10 April Next Insight: Rex International: When the Storm Blows Over
““Rex is in a good financial position and will continue to minimise exploration risks with its proprietary RVD technology and geological review by its Technical Review Committee, and will only participate in selected drilling campaigns that are economically viable in the current challenging environment.””
21 January Business Times: Rex International Unit takes part in Norwegian Licensing Round
"We are very pleased with this extensive award in line with our application. All licences contain exciting prospects that have been qualified with the liquid hydrocarbon indicator Rex Virtual Drilling," said Svein Kjellesvik, Rex's chief operating officer."
13 January NextInsight: Staying steady, looking further out to monetize oil discoveries
"Rex's chairman Mr Dan Brostrom explains, "We have liaised with established players such as Lundin and Statoil, who realise we have some interesting technologies that reduce their risk in drilling. We are going with them into areas that are oil-prolific and where there are already discoveries made and these players have been involved there. These are logistically built-up areas, and there's enough work there to keep us busy for some time.".. "we have it all funded for 2016. And the Board's position is we have to be very prudent with the cash we have.""