Rex International

Rex International: the counter is on trading halt now, but UOBKH reaffirmed Buy recommendation with TP $1.27 for four reasons: 1. Addition of Rex Gas Indicator that can detect hydrocarbon in gaseous phase expands its suite of services and increases its attractiveness as a partner to E&P companies 2. Early oil production in Oman on track, expected to produce 5,000-6,000 bopd 3. High exploration success of 50% (vs industry average 10-15%) due to highly selective criteria in accessing concessions 4. Well-funded for current exploratory plans through 2015. There is no update on the trading halt yet. Yesterday the counter registered high-volume positive movement.