Rex Int’l

Rex Int’l: Following an announcement for 2 new licenses acquisition on 18 Sep 2013, Rex’s 65% owned subsidiary Lime Petroleum Norway announced yesterday that the acquisition of 10% stakes in each of 2 new exploratory licenses in Norway (PL 707 & PL 708) were successful, and will become effective from 29 Nov 2013. Both concessions are located in the Barents Sea, and analysis done via Rex Virtual Drilling indicates the presence of hydrocarbons. In PL 707, the findings were supported by a previous technical discovery of oil and gas. Rex Int’l’s effective stakes in each of these 2 licenses are 6.5% respectively.