Rex International’s Lime Petroleum Secures New North Sea Licence

Rex International Holding Ltd. ( (SG:5WH) ) has provided an update.

Rex International Holding Ltd.’s subsidiary, Lime Petroleum AS, has been awarded a significant 33.8434% interest in a new offshore licence, PL 1252, located in the North Sea, as part of the APA 2024 round in Norway. This strategic acquisition expands Lime Petroleum’s footprint in a region with promising potential, aligning with their expertise and existing operations near the producing Brage Field. The award is part of a broader allocation by the Norwegian Offshore Directorate, underscoring Rex’s strengthened position in the competitive energy sector.

More about Rex International Holding Ltd.

Lime Petroleum AS, established in 2012 in Oslo, is a subsidiary of Rex International Holding Ltd. The company focuses on oil and gas exploration and production in mature areas near existing infrastructure, utilizing high-quality seismic data and proprietary Rex Virtual Drilling technology.

YTD Price Performance: 15.00%

Average Trading Volume: 12,329,145

Technical Sentiment Consensus Rating: Sell

Current Market Cap: S$183.6M

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