Rex International Holdings

The analysts have also reduced their target price to 10 cents, from 45 cents previously.

Shares in Rex International closed flat at 21.5 cents on Dec 30.

The new acquisition will bring Rex Technology’s shareholding interest in Xer to 53% from 40%, making Xer a subsidiary.

The bonds are expected to be issued on July 5, with a maturity date of July 7, 2025.

All provisions of the PSCs will remain in full force and effect and binding.

See what the analysts have to say on these counters.

Rex’s 2021 Round-up sees a transformational year in increased oil production and positive cash flow

The drilling is expected to begin in December 2020.

SINGAPORE (Aug 13): Rex International reported earnings of US$23.6 million ($32.7 million), or 1.83 US cents per share, for the 2Q19 ended June, reversing from the net loss of US$2.7 million in 2Q18 a year ago.

SINGAPORE (March 20): Oil company Rex International Holdings says Masirah Oil, its indirect wholly-owned subsidiary, has commenced the drilling of exploration well Karamah#1 in Oman’s Block 50.