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The latest update is out from Rex International Holding Ltd. ( (SG:5WH) ).
Rex International’s subsidiary Lime Petroleum Holding AS has achieved first oil from the AK-2H well in Benin’s Sèmè Field Block 1, with production expected to start within two weeks. This milestone advances the Group’s offshore production portfolio and underscores its growing presence in West African oil assets.
The AK-2H drilling campaign suffered significant technical complications that drove up drilling costs and delayed production by more than three months, materially weakening LPH’s financial position. In response, LPH has engaged financial and legal advisers to conduct a strategic and financial review, exploring options including mergers, asset deals, debt amendments, or broader restructuring to stabilise its balance sheet and protect creditors.
The most recent analyst rating on (SG:5WH) stock is a Hold with a S$0.14 price target. To see the full list of analyst forecasts on Rex International Holding Ltd. stock, see the SG:5WH Stock Forecast page.
More about Rex International Holding Ltd.
Rex International Holding Ltd. is an oil and gas exploration and production company with operations conducted through subsidiaries such as Lime Petroleum Holding AS. The Group focuses on offshore hydrocarbon assets, using its subsidiaries to develop fields and bring new wells into production in emerging markets such as West Africa.
Average Trading Volume: 12,525,152
Technical Sentiment Signal: Sell
Current Market Cap: S$187.5M
Learn more about 5WH stock on TipRanks’ Stock Analysis page.