Otto Marine Brings in Subsea Adviser
UOB Kay Hian Holdings Limited to advise the group on strategic options, aimed to develop the international profile and competitive position of its subsea services unit in the increasingly growing segment. Such options include but are not limited to a potential listing on the on the Singapore Exchange Securities Trading Limited (SGX-ST). According to Otto Marine, the group remains committed to the business and the review is intended to pursue profitable growth and enhance shareholder value. Commenting on the group’s strategic approach, Michael See, Group Executive Director, said, “The
Rex IH Gives Norway Drilling, License Updates
Rex International Holding gives drilling and license status update on its portfolio in Norway Rex International Holding Limited, one of the largest companies listed on the Catalist of the Singapore Exchange Securities Trading Limited, shared its latest developments in its Norway portfolio, held through its 65 percent owned indirect subsidiary, Lime Petroleum Norway AS and investee company, North Energy ASA. Måns Lidgren, Chief Executive Officer of Rex International Holding, said, “Besides growing our portfolio through farm-ins, participation in government award of licenses and
Ezra to Consolidate EMAS Marine into EOC
Ezra’s financial adviser in relation to the proposed consolidation exercise. Proposed secondary listing on SGX-ST In connection with the proposed consolidation, EOC is considering a potential secondary listing and quotation of all the shares of EOC on the Main Board of the Singapore Exchange Securities Trading Limited (SGX-ST). Further, it is contemplated that Ezra will undertake a secondary sale of shares of up to $20 million in the Norwegian market directed at EOC’s existing shareholders in the Norwegian Central Securities Depository (VPS), at the same price as the proposed offering
Rex Group Completes Drilling of First Oman Exploration Well
Rex International Holding Limited, one of the largest companies listed on the Catalist of the Singapore Exchange Securities Trading Limited, referred to the announcement issued on December 24, 2013 in which Masirah Oil Limited, a 64% owned subsidiary of its jointly-controlled entity, Lime Petroleum Plc , had suspended, for safety reasons, drilling of its first exploration well, Masirah North North #1 in Block 50 Oman for further evaluation. The MNN #1 well was drilled to a total depth of approximately 1,000 meters below mean sea level. Mud losses in two carbonate sections of the well prevented Masirah
Rex International Joint Entity Spuds First Well in Oman
Rex International Holding Limited, one of the largest companies listed on the Catalyst of the Singapore Exchange Securities Trading Limited, announced that its jointly-controlled entity, Lime Petroleum Plc, through its subsidiary Masirah Oil Ltd., has begun drilling and exploration well in Masirah North North #1 (MNN #1), located in the Block 50 Oman concession, on November 25, 2013. This is part of a two-well drilling program in the concession. The prospect MNN #1, which is about 1,000 meters in depth, was selected for drilling after in-depth technical evaluation and verification using the proprieta
February 2024
