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Rex International Holding Ltd. ( (SG:5WH) ) has issued an update.
Rex International Holding Ltd. announced new commercial oil discoveries in the Brage Field, Norway, through its subsidiary Lime Petroleum AS, which holds a significant interest in the field. The discoveries in the Cook and Statfjord formations are estimated to hold between 16 to 33 million barrels of oil equivalent, which is expected to extend the operational life of the Brage Field. This development highlights Rex’s strategic collaboration with OKEA ASA and the utilization of advanced drilling technologies, potentially enhancing the company’s market position and offering promising returns for stakeholders.
More about Rex International Holding Ltd.
Rex International Holding Ltd. is a company involved in the oil and gas industry, focusing on exploration and production activities. The company operates through its subsidiaries, including Lime Petroleum AS, and is engaged in discovering and developing oil resources, primarily in the Norwegian North Sea.
Average Trading Volume: 40,099,143
Technical Sentiment Signal: Buy
Current Market Cap: S$227.9M
For detailed information about 5WH stock, go to TipRanks’ Stock Analysis page.