REX INTERNATIONAL . Worth a buy now ?

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4 years 8 months ago #25015 by Rich
Strong upward trend for Rex today. Oil price surged after drone attacks on S.Arabia oil complex. Now less risk from Iran production returning, 2) higher geopolitical risk premium and 3) Iraq taking steps to reduce exports. OCBC said, downside risks to prices have materially lessened.

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4 years 7 months ago #25048 by Val
trading at 9.2 cents currently! after a positive update this morning (though it is a complicated & technical description of the progress)

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4 years 7 months ago - 4 years 7 months ago #25059 by Val
Aiming For First Oil
The offshore Block 50 concession in Oman is a key asset of the Group. An oil discovery in the GA South well was made in 2014, the first offshore discovery east of Oman, after 30 years of exploration activity in the area. The discovery won the “Offshore Discovery of the Year” award in Oman. The Group is targeting to achieve first oil by end-2019.

source: www.rexih.com/oman.html
Last edit: 4 years 7 months ago by Val.

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4 years 6 months ago #25070 by Val
REX 11.1 cents today, at 1- year high.
Attachments:

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4 years 6 months ago #25074 by Kapitan
This is a most insightful post (from Sharejunction) by Mustang:

mustang ( Date: 01-Nov-2019 19:59) Posted:

I think Rex Intl has tremendous potential. We should see very much higher prices. Watch for the breakout at 12 cents, which is a good entry level. Two major news will send the share price on a ferocious bull run.... (1) monetisation of the recent discovery in Shrek field in the North Seas. It is highly plausible Rex will monetise this recent discovery by selling its 30% stake to Aker BP which operates the nearby Skarv field. Rex is raising funds to fund its oilfield project in Oman. I like the Management approach of not going for funding options which has shares dilution impact. It shows Management is protecting its shareholders interest. (2) updates of the progress of bringing the Oman oilfield into production. Currently, the coy is conducting technical testings on the oil well, and sourcing for suitable vendor to develop and operate the oil production facility.

We are probably at the initial bull phase for Rex Intl. The share price will see multi fold returns. You have to be patience!!!

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4 years 6 months ago #25080 by Kapitan
First oil coming (in Dec 2019).

Rex’s subsidiary awards drilling rig contract in Oman.

The oil potential is massive.

links.sgx.com/FileOpen/20191105_RIH_Pres...cement&FileID=584358

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