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Rex increases stake in Trinidad & Tobago asset

Acquisition brings its total indirect interest in Cory Moruga Block to 83.8%
Tuesday, February 24, 2015 - 05:50

"At current oil prices, there is potentially still a good margin for produced oil in Trinidad." - Mans Lidgren, Rex's CEO


CATALIST-listed Rex International has upped its stake in a Trinidad and Tobago asset where drilling has uncovered positive seismic data.

The firm acquired a 63.8 per cent working interest in the Cory Moruga Block for US$1.5 million in cash and S$200,000 in the working

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