News

By Year: All | 2015 | 2014 | 2013

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