On top of that, it own about 26% of FRAM Exploration and 3.5% of Loyz Energy. All this company is with oil reserve.

Read here on what Rex have in hand
http://rex.listedcompany.com/news.html/id/398104

God only knows

Don't need to predict, just wait for announcement. Already suspended. Panic pun tak guna. too late !!!

Hi Raffles, can you provide us more information on the drilling program result undertake by Masirah in Oman. On oil quality, oil flow rate and etc... we need someone like you to brief us. Really appreciate the information you provide in your earlier posting. Thanks.

Rex doing 66.5 / 67

and also whats the value of it compare with crude oil?

hhakim, if they really strike lots of dirty oil as earlier people claim, what does this dirty oil means? Bitumen (i check from website dirty oil means bitumen). Can they commercial it?

dirty oil is bitumen, tar-like oil - need to heavily processed in order to be turned into lighter, easier to refine, crude oil.

At least Rex software works. Good for Hirex. Another well to drill, lets hope this time is crude oil.

come to think of it, Rex software really works even if they hit dirty oil, it is still oil. With this HiRex will have bright future.

Rex now doing 67 cents. No major selling going on. so think again.

Rex doing 0.665 now. And look at Hibiscus mother share, only 3100 lots done. so why panic.

Rex is holding very well, now doing 66/66.5. If really no oil, it should go down as well. Think and dont get panic

dont really understand some people, create panic situation and also enjoy. more worst enjoy see people lose money

i think its just panic selling. Rex International doing fine today , doing 0.665 up 0.05 cents, high was 0.675

What Hibiscus got they also got but more than Hibiscus. Hibiscus direct stake in Oman is about 21% (around this) where as Rex have 46.1% direct interest in Oman

i guess they try to frighten people by purposely pushing down the price. Soo stay cool yah.

Rex 66.5 cents now. So dont panic

Done 66 cents with high volume

Do not panic, Rex suddenly surge up now trading at 65.5/66 cents

Elmo, not for 50 days, its min 50 days, if i am not forgoten.

3D Oil share price already 0.115 cents (Australia), which means Hibiscus investment in 3D Oil already double.

roslaom, if the drilling rig is at well 2, like you say. Then i can say they have hit oil. Their drilling plan is first drill MNN, if they find oil, they will continue with MNE (which is side by side). But if they fail to find oil in MNN they wont go for MNE but instate go for GA South. As we know GA South is far away from MNN and MNE.From the live marine report, the movement of drilling rig is very small, must be at MNE. Only my prediction.

US market at this moment up by 135 point. Let hope better performance for hibiscus tomorrow.

hi prc, if the drilling rig (ready stacked) is already at new location, this mean, this new location and old location is not far from each other. They could be preparing to drill MNE, in other word oil sudah dapat.

Next important thing is to track where Aban VII is heading. If the rigs travel far from this current location, then means no oil found but if it travel short distance then find oil. This is my own opinion for sharing purpose and not for all to buy or sell.

friendly speaking. i have no idea. i am not in this line. From the description one can see it is ready for next drilling task.

Below is the meaning of ready Stacked:
Ready stacked status means that a rig is idle but operational and is also referenced in the industry as warm stacked. A ready stacked rig typically retains most of its crew and can deploy quickly if an operator requires its services. In a ready stacked state, normal maintenance operations similar to those performed when the rig is active are continued by the crew so that the rig remains work ready.

Daily operating costs for a ready stacked unit remain close to the levels incurred when the rig is actively working. Thus, a rig is kept in a ready stacked state when its owner anticipates that the rig will be able to return to work shortly - either due to having a commitment in hand or the owner's perception that work will be secured relatively quickly. Ready stacked rigs are actively marketed and considered part of marketable supply.

totally agree with rosloam, dont lah sindir here and there. Player wish to play short term or long term is totally up to them. To me if got info, share with all. this way all be happy.

sorry !!!

My projection,i am not good at marine data reading, maybe someone can help on this. This projection is basically base on data provided by "prc4wifefe". First of all the drilling program. as we know Hibiscus drilling program work this way. First they will spud MNN and if they find oil, they will continue with MNE. but if they fail in MNN then they wont spud MNE but spud GA South. Base on marine movement data provided by prc, the movement is only very small. And as we all know the location of MNN and MNE is just side by side. where as GA South if far apart from MNN and MNE. So do your own projection.

they want to paksa warrant holder to convert to mother sharelah so that they can get more modal.

there is no tapering issue for this counter at this moment, only oil issue.

When did i said no good. I only said guess, with a flag and US index down 120+ point

he is now call multi millionaire

Eddie Voon you are wrong, chart wise really point to that figure or higher. Today candle stick is call "flag break-out".

Today is T+3 with flag pole on the chart and US market down 120+ point.
So ????

Flowerpower mind sharing what you know? you look very confident.

Yes elmo888, here is the 5, we are investing in the same pattern.

Flowerpower, biarlah. I am investing for long term not short term. I invest in Rex (Singapore) basically for 1. currency appreciating 2. long term gain. Both Hibiscus and Rex saya pun ada. Tak perlu risau.

Hear him saying, already planning to sell the oil in Oman. Look very confident in getting oil.

For those who are interested with Rex International. Here is one article you might want to read:

26-Nov

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

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.

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."

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 Internationals effective stake of 41.6% in the Oman concession can fetch a considerable amount.

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

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 Internationals 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.

Note: if they hit oil and predicted 200 mil barrel from the two well (MNN and MNE). 41.6% of 200 mil barrel is equivalent to 83,200,000 barrel. if this is sold at US5 per barrel. Rex will receive US416,000,000.

Hi luyee, non at the moment. Not selling at the moment, still can go higher.

Oh i see.

Hi guys, Hibiscus Nov' 2013 investor presentation is out. Go check out at their website. Base on their earlier and nov presentation info, at 315m deep they already see oil. This could means by now they should have some answer to it already. So all the best.

Flowerpower, you look very confident but please don't be over confident, ok !!!. On my side, i am just praying every night that they hit oil.

Have to be oil lah

Oman started drilling today.

Here is the announcement from REX International:

PRESS RELEASE
Rex International Holding’s jointly controlled entity
spuds first well in Oman
 Jointly-controlled entity Lime’s subsidiary, Masirah, has begun drilling campaign at
Masirah North North #1 (“MNN #1”) in its Block 50 Oman concession
 Selected for drilling after verification by Rex Virtual Drilling technology, MNN #1 is
expected to be about 1,000 metres in depth
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 technology1, 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.
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.

DBS Vickers BUY call

Rex International Holdings: BUY S$0.615 Bloomberg: REXI SP
No change in potential
Price Target: 12-Month S$1.15 (Prev S$1.27)



• Foray into oil well stimulation technology through tie-up with Swiss firm could yield complementary earnings stream in future
• Meanwhile, progress on new licence adds and drilling plans at existing assets are all on track
• Balance sheet fortified by share placement
• Thus, recent sell down seems unjustified; reiterate BUY with adjusted TP of S$1.15
Another game-changing technology in hand? Rex will be 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.
Drill campaigns all on track. Drill results from the first well in 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.
Maintain BUY for 85% upside potential. Our TP for Rex is 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.

Yes, slowly going up. This could means they are very confident finding oil.