“The reality is that we have a hard time persuading the market how to value an exploration and production [E&P] company, because no one’s looking at risk-NAV and most people tend to focus not on ebitda, but on the bottomline,” adds d’Abo, who joined the company’s board as an independent director in May 2022 before taking up his current role on April 25.
The wider energy sector has seen gains in recent years, driven by geopolitical tensions and recovering post-pandemic demand, which have supported prices. However, Singapore-listed oil producer Rex International has experienced a 40% decline in its share price year-to-date, continuing its downward trend over the past five years.
Perception is the problem, with the company being an “unloved and undervalued” stock, says Rex International executive chairman John d’Abo in an interview with The Edge Singapore.
