Rex International Provides Updates on Assets in Benin, Norway, Germany

MT Newswires06-09

Rex International (SGX:5WH) through its 80.14% subsidiary, Lime Petroleum, provided progress updates on its assets in Benin, Norway and Germany, according to a filing with the Singapore Exchange on Friday.

Drilling at the Akrake Petroleum Benin site will start in July, with production expected during the fourth quarter of the year.

At the Brage Field in Norway, year to date production averaged 5,700 barrels of oil equivalent per day, which is expected to increase over the rest of the year, with several wells scheduled to come on stream.

Meanwhile, Germany-based subsidiary, Lime Resources Germany, which holds exploration and production licenses, reported production of 40 barrels of oil per day (bopd) from two wells in Schwarzbach and 15 bopd at the Lauben site operated by ONEO.

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