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Rex International Holding Ltd. ( (SG:5WH) ) has provided an announcement.
Rex International Holding has announced a new hydrocarbon discovery in the Knockando Fensfjord prospect within Norway’s Brage Field, where its indirect subsidiary Lime Petroleum holds a 33.8434% interest. Preliminary estimates from the Norwegian Offshore Directorate indicate additional recoverable resources for Brage of between 0.5 and 1.5 million standard cubic metres of oil equivalent if the find is oil, or 0.4 to 0.9 million standard cubic metres if it proves to be gas, following drilling of the Talisker A-15D development well from the Brage installation. The well intersected a 38.5‑metre hydrocarbon column in multiple sandstone layers of moderate to good reservoir quality in the Lower Fensfjord Formation, and the Brage Field partners are now evaluating options to develop the Knockando Fensfjord discovery, which could incrementally enhance production and reserves from the mature field.
The most recent analyst rating on (SG:5WH) stock is a Hold with a S$0.15 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 Limited is an upstream oil and gas company whose activities are carried out through subsidiaries such as Lime Petroleum AS, focusing on exploration and production in offshore fields including the Norwegian Continental Shelf.
Average Trading Volume: 12,185,941
Technical Sentiment Signal: Buy
Current Market Cap: S$201.9M
For detailed information about 5WH stock, go to TipRanks’ Stock Analysis page.