Rex

Rex: SP Angel initiates with Buy rating with $1.19 TP. With a well balanced portfolio, adequate cash resources to meet its near to medium term obligations and a potentially game changing technology in Rex Virtual Drilling, Rex is well positioned. The Company’s portfolio is well balanced, in terms of position in the exploration lifecycle, geographical diversity and play type. While the near term drilling programme focused on appraisal and exploration in Trinidad, Norway’s high impact exploration programme starts in 2H14, and the Omani appraisal and Australian exploration programme kick off in 1H15. http://www.nextinsight.net/index.php/story-archive-mainmenu-60/924-2014/8668-rex-international-buy-119-target-price-says-sp-angel