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Rex International Holding Ltd. ( (SG:5WH) ) has provided an announcement.
Rex International Holding Ltd.’s subsidiary, Lime Petroleum AS, has announced a new oil discovery in the Brage Field, Norway. The discovery, located in the southern part of the Prince prospect, revealed a 20-metre-thick oil column with promising reservoir properties. Preliminary estimates suggest the discovery holds between 1.9 to 17.5 million barrels of oil equivalents in place, with a recovery factor translating to 0.3 to 2.8 million barrels. This development could enhance the Brage Field’s potential, impacting the company’s operations and positioning within the industry.
More about Rex International Holding Ltd.
Rex International Holding Ltd. is a multinational oil exploration and production company. It operates through its subsidiaries, including Lime Petroleum AS, focusing on oil assets such as the Brage Field in Norway.
Average Trading Volume: 27,769,434
Technical Sentiment Signal: Sell
Current Market Cap: S$164.1M
For detailed information about 5WH stock, go to TipRanks’ Stock Analysis page.
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