General Announcement::Rex International Holding to focus on Oman and Norway as key assets and to announce new COO

Issuer & Securities

Issuer/ Manager
REX INTERNATIONAL HOLDING LIMITED
Securities
REX INTERNATIONAL HOLDING LTD - SG2G04994999 - 5WH
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
20-Aug-2015 00:18:45
Status
New
Announcement Sub Title
Rex International Holding to focus on Oman and Norway as key assets and to announce new COO
Announcement Reference
SG150820OTHRC2EA
Submitted By (Co./ Ind. Name)
Dan Brostrom
Designation
Executive Director and Chairman
Description (Please provide a detailed description of the event in the box below)
- Rex's liquid assets stood at US$96.0 million as at 30 June 2015; drilling programme for 2015 and preliminary drilling plans for 2016 are fully funded.

- Further technical development of Rex Virtual Drilling with aim of identifying porosity and permeability values independently of traditional geology and geophysical (G&G) process.

- Appointment of industry veteran as Chief Operating Officer being finalised.

- Reducing capital investments and concentrating investments on assets in Oman and Norway.

Please refer to the attachment.

Attachments

20150819_RIH_PressRelease_RexFocusOrgChanges.pdf
Total size =535K