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Rex International

Peter_Pan
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29-Nov-2013 19:02

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Hope got good news announcement soon...huat ah!

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HVRRVH
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29-Nov-2013 18:54

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Rex is granting share option to key employees. at 65c and 52c if I remember correct. The option is exerciseable in 1 and 2 years time from now respectively with valid period of 10 years. So it is in the interest of the employees to make sure the share price go up as much as possible within 2 to 10 years? I am sure if I keep the shares for 10 years the price should appreciate? hmm....

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Peter_Pan
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29-Nov-2013 18:52

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last minute push up may be due to the share option thingy...counterparties include morgan stanley

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Simpsons
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29-Nov-2013 18:47

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Imo, unlikely for history to repeat itself and forummers, dun any o how chiong into as oil price can only get cheaper with the iran deal.
May stay around this level and difficult to contra so dun any contribute your hard earned money based on forum..
Trade with care..

starlene ( Date: 29-Nov-2013 18:10) Posted:

66.5 was ab 1 week after its ipo debut..I bgt at this price 100 lots and sold at 77cts...subsequently I bought at 80 cts and waited about 2 mths and sold off at 90-96cts when uob kayhian initiated coverage with t.p $1.47...so at this price can still nimble n hope history will repeat again...shd repeat esp when drilling started n results will be known b4 Dec

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Peter_Pan
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29-Nov-2013 18:19

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t-rex after digging nose very sufu..also digged out plenty of gold nuggets

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starlene
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29-Nov-2013 18:10

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HVRRVH
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29-Nov-2013 10:48

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Hopeless rex now volume so thin and not moving. Kena stuck bobian I will just cold storage it and look at it again in new year.

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Hawkeye
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27-Nov-2013 21:59

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Ok thanks not so good at Rex. LOL

Looks slightly cheaper than usual.

Peter_Pan ( Date: 27-Nov-2013 21:01) Posted:

bro, this one can consider old news liao leh..

Hawkeye ( Date: 27-Nov-2013 20:44) Posted:

Rex spuds first well in Oman

SINGAPORE, 25 November 2013 ? Rex International Holding Limited (?Rex International Holding? or the ?Company?, and together with its subsidiaries, the ?Group?), one of the largest companies listed on the Catalist of the Singapore Exchange Securities Trading Limited, is pleased to announce that its jointly-controlled entity, Lime Petroleum Plc (?Lime?), through its subsidiary Masirah Oil Ltd (?Masirah?), has begun drilling an exploration well in Masirah North North #1 (?MNN #1?), located in the Block 50 Oman concession, on 25 November 2013.

This is part of a two-well drilling programme in the concession.

The prospect MNN #1, which is about 1,000 metres in depth, was selected for drilling after in-depth technical evaluation and verification using the proprietary Rex Virtual Drilling technology, in addition to confirmations provided via conventional methodologies.

The prospect is located in the northern area of the Block 50 Oman concession which is about 17,000 square kilometres in size.

The well is being drilled using the independent leg cantilever jack-up drilling rig Aban VII.

Meanwhile, Rex International Holding holds a 65 per cent stake in Lime. Lime, through Masirah, has a 64 per cent participating interest in the Block 50 Oman concession, while Petroci Holding, the national oil company of Ivory Coast, has a 36 per cent participating interest.

Published : November 27, 2013

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Peter_Pan
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27-Nov-2013 21:01

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bro, this one can consider old news liao leh..

Hawkeye ( Date: 27-Nov-2013 20:44) Posted:

Rex spuds first well in Oman

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Hawkeye
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27-Nov-2013 20:44

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Rex spuds first well in Oman

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Peter_Pan
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27-Nov-2013 19:17

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Rex must eat more bak kut teh

spss1955 ( Date: 27-Nov-2013 18:59) Posted:

BBs screwing both longist and shortist? Every which way but lose?

Peter_Pan ( Date: 27-Nov-2013 18:00) Posted:

Rex boh jiak peng ah..???

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spss1955
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27-Nov-2013 18:59

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BBs screwing both longist and shortist? Every which way but lose?

Peter_Pan ( Date: 27-Nov-2013 18:00) Posted:

Rex boh jiak peng ah..???

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Peter_Pan
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27-Nov-2013 18:00

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Rex boh jiak peng ah..???

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expertinvestor
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27-Nov-2013 16:10

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I think it's gonna close high... Not vested...

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Peter_Pan
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27-Nov-2013 13:26

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rex shaking ur bonbon

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Markie
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27-Nov-2013 12:59

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This stock is characterised by high risk and high returns, and is extremely cyclical.

what analyst predict is base on their interpretation of fundamentals and judgment over a long 12 month period. That being said, no one is to fault analyst for giving false calls at various points in time since situation changes and no one can predict accurately the future.

That being said, with all these TP mentioned below by individual investors, if your aim is to look at REX in the short term, by all means lower your target price. But, fundamentally, old and gas firms, particularly those that engage in oil exploration, have always experienced lumpy earnings, hits and misses. Thus, taking a long term view is to be honest, also fair.

If one isn't able to stomach the risk involved, go for ur comfort delgro. If one is able to stomach it, keep for the long term. In fact, investing has never ever been for the short term. Long term is for the better good. That being said, if you follow the concept of buy low and sell high, you can never be wrong.

Rex can be up tml on good news or down on bad news. I have never believed in those target prices., but one that has a fundamentally strong management team with a strong vision.

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jacelin84
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27-Nov-2013 12:06

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Sis EvaHsu's view has its merit and her prediction was spot on.Now it was trading at her predicted TP,silencing all her critics.Well done,sis.I PM you.

ozone2002 ( Date: 27-Nov-2013 11:49) Posted:

no revenue means only expenses will be incurred!

when that happens means losses losses and more losses... which would you prefer to invest in?

a company that has revenue and shows profit or a company with no revenue and shows losses

simple mathematics :)

evahsu ( Date: 27-Nov-2013 10:56) Posted:

Agreed with yr view fully.There is no change in potential however there are higher chances of px slipping down south instead.Notice CEO is back pedalling their words from their recent reports vs analysis reports.First time drilling using their so called " technology" likely to face hiccups.Just think if they are so confident abt their technology,they would have engaged private investors instead of seeking public listing to seek for public fund.If there are proven result for several drillings,imagine what price they can command during an IPO but they did not.This showed the mgt/ceo is also not 100% sure abt its potential. He cld be keeping something under this sleeve we never know. Maybe they did ask private investors but no one dare to take the risk as it still a unproven technology hence only option is to tap fund from the public.Drillings are bound to have hits and misses.Going forward how many missess can investors stomach?

Dont forget they are listed on second board of SGX where the company have no profit/revenue for the past 3 yrs.

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Angel555
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27-Nov-2013 11:56

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the nature of the company is at such it takes time for revenue to flow in. its a unique company in its class of its own..

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ozone2002
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27-Nov-2013 11:49

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evahsu ( Date: 27-Nov-2013 10:56) Posted:

ozone2002 ( Date: 26-Nov-2013 16:58) Posted:

DBS promoting this no revenue counter.. they promote Yoma @ 65x PE and now a revenue-less and profit-less counter Rex Int'l. Use common sense so as not to lose your dollars n cents.. gd luck..

No change in potential

through tie-up with Swiss firm could yield

complementary earnings stream in futureForay into oil well stimulation technology

drilling plans at existing assets are all on trackMeanwhile, progress on new licence adds and

? Balance sheet fortified by share placement

reiterate BUY with adjusted TP of S$1.15Thus, recent sell down seems unjustified

Another game-changing technology in hand?

investing US$20m for a 67% stake in Rexonic, which will own

a proprietary environmentally-friendly, high-power ultrasound

technology for commercial oil well stimulation developed by

Swiss partner Ogsonic AG. This technology is intended to

replace traditional chemical methods and has been shown to

increase oil production from 30% to 380%, both onshore and

offshore, according to management. This JV will target the oil

& gas production phase, and being complementary to Rex?s

existing offerings in the exploration phase, offers cross-sell

opportunities. Rexonic has already signed contracts with three

major NOCs and could contribute a recurrent earnings stream

within the next few years.Rex will be

Drill campaigns all on track.

Oman can be expected around end-December 2013, and the

second well around 40 days later. While the developments in

Oman are likely to be of much interest to the market, Rex is also

aiming to drill another 5-7 offshore wells in various areas in

2014, and looking to grow its portfolio from the current 15

licences to 30 licences over the next 18-24 months, potentially

providing a constant stream of newsflow and catalysts.Drill results from the first well in

Maintain BUY for 85% upside potential.

adjusted down to S$1.15, as we factor in a bigger share base

arising from the recent share placement, as well as

consideration shares issued to fund the acquisition of the

Rexonic stake and an additional stake in Rex Caribbean.

However, we believe the story for Rex remains intact, as

highlighted above, and the recent sell down thus presents a

good buying opportunity.Our TP for Rex is

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evahsu
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27-Nov-2013 11:15

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Why now they said this: As the IPO share allotment had not been fully taken up, we decided on a placement at 75.5 cents, 51% higher than our 50-cent IPO price.

Thght we saw so many reports saying that the share was fully subscribed.Who to believe now???

Then what are those stabilizing shares as mentioned.To stabilize what when the shares aee not overwhleming taken up..So many ??? or is it forumners or analysts trying to sanitize their reports.

Do take note drilling will be their forte and Rex will not be involved in any production works.

starlene ( Date: 26-Nov-2013 15:45) Posted:

26-Nov

550_oilrig
Rex International Holding's first oil drilling campaign started this week, on track with the company's expansion schedule. Company photo

REX INTERNATIONAL HOLDING?S first offshore drilling campaign, an event eagerly anticipated by the investment community, has commenced this week, on track with the company's expansion schedule.

250_2dan_brostrom
Executive Chairman Dan Brostrom: " After our IPO, many investors approached us to buy more shares in Rex International.

" As the IPO share allotment had not been fully taken up, we decided on a placement at 75.5 cents, 51% higher than our 50-cent IPO price.

" With the additional monies, we can participate in opportunities that arose after the IPO. We are now well capitalised for our upcoming drilling campaigns."
Photo by Sim Kih
?We are going for the big offshore finds and that programme starts now, with Oman,? said executive chairman Dan Brostrom during an exclusive interview with NextInsight.

Unlike the typical exploration and production (E& P) company that generates income from crude oil production, Rex International intends to sell original oil in the ground and recycle the sale proceeds as capital for stakes in new concessions.

Current prices of original offshore oil in the ground range from US$5 to US$15 per barrel. The Oman prospect being drilled is about 17,000 square kilometers in size. This suggests that Rex International?s effective stake of 41.6% in the Oman concession can fetch a considerable amount. Laughing

By the time the Oman first phase test drilling ends this year, the following will be known:
1) If the oil at the Oman well is commercially recoverable
2) What the geophysical structure of the oilwell is Bounce

Mr Brostrom estimates that any sale from its Oman concession can only be completed up to a year later, as time is needed for negotiations and proving of oil reserves to and by prospective buyers.

?We intend to have 5 to 7 offshore drilling campaigns next year,? said Mr Brostrom. This could mean a phenomenal FY2015 performance for Rex International when oilwell sale proceeds roll in.

This rate of drilling campaigns is unprecedented among its E& P peers, and is possible only with Rex International?s unique business model.

A typical E& P company spends three to five years in securing a concession, conducting seismic survey, data appraisal and waiting for oilrig deployment before commencing exploratory drilling.

Rex International, on the other hand, has a business model that sidesteps much of this ponderous process.

With the exception of its first offshore concession from the Oman Sultanate, Rex now gains interest in oilfield concessions from concession holders who have already expended resources on gathering seismic data and other geophysical surveys.

For example, its effective equity interest in North Energy?s offshore licenses ranging from 3% to 8% came about through co-operation agreements for analysing seismic data from these concessions using Rex Virtual Drilling.

?There are many oilfield concession owners who have paid double digit millions for seismic studies and still don't know where the oil is.

" Now that Rex Virtual Drilling can analyse their seismic data in four to six weeks with a high level of accuracy, they are eagerly approaching us,? said Mr Brostrom.

From exploratory drilling to identifying recoverable oil reserves, Rex Virtual Drilling has proven to be more than 50% accurate compared to the global industry average of 15% when traditional methods are used.

" We don't sell our technology. We are not a service company. We will only use our technology for equity interest in concessions that we are keen on,? said Mr Brostrom.

The company's business model is the first of its kind among E& P players, and is the reason why it has is making good and may even exceed its aggressive claims of doubling oilfield concessions from 10 to 20 within a year of listing.

" Four months after listing, we have already grown our portfolio to 15 concessions, beating our target. We have spudded Oman according to schedule. With the added proceeds from our recent placement, we are well capitalised for our expansion plans and for our upcoming drilling campaigns," added Mr Brostrom.

Rex_stkpx_21Nov2013
From a high of over 90 cents, Rex's share price has now retreated to 65 cents. Is the price drop justified, given that its projected FY2014 losses are likely to be followed by not just a couple, but several, sizable oil strikes in FY2015? Bloomberg data

Recent story: REX: Recurring Income From JV In Oil Production Service

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