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Rex International Injects US$8.2 Million Into Masirah Oil
Daily Bulletin | 16 November 2015
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Rex International’s indirect wholly-owned subsidiary, Rex Oman, has completed the subscription of 5,760 new shares in Masirah Oil (MOL) at US$1,426 per share, amounting to approximately US$8.2 million.

The group considers the injection to be necessary and beneficial to the group as it allows MOL to pursue its drilling activities and continue its operations in Oman, which has been identified as the group’s main focus going forward.

MOL is a 64 percent-owned subsidiary of Lime Petroleum (the group has a 65 percent indirect stake). Thus, pursuant to the completion of the capital injection, Rex International’s effective interest in MOL has increased from approximately 41.6 percent to 61.8 percent.

Rex Int'l Hldg  0.062 -0.001 -1.59%   
Business: An independent oil & gas exploration & pdtn Co which has access to a set of proprietary & innovative exploration tech that mitigates exploration cost & risk.

Insight: May-19, 1Q19 no service revenue was generated from... Read More


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