The type of hydrocarbon is yet to be confirmed. Preliminary estimates indicate 0.5 to 1.5 million standard cubic metres (Sm3) of recoverable oil equivalent (o.e.) if it is oil, or 0.4 to 0.9 million Sm3 o.e. if it is gas.
Over the last week, Rex International has made several announcements that would be music to its shareholders.
In its latest bourse filing on Feb 2, oil and gas explorer Rex International announced the discovery of hydrocarbons in the “Knockando Fensfjord” prospect in the Brage Field, Norway. Rex’s indirect subsidiary Lime Petroleum AS owns a 33.8434% interest in the field.
