Rex increases stake in Trinidad & Tobago asset
Acquisition brings its total indirect interest in Cory Moruga Block to 83.8%
Singapore
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 capital of Parex Resources (Trinidad), which holds the asset. Rex funded this from the proceeds of the share placement deal in September last year. The acquisition brings its total indirect interest in the onshore block to 83.8 per cent.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Prudential shutters Hong Kong wealth unit Pulse
Singapore has to be realistic on global trends plaguing its stock market: DPM Wong
Google DeepMind unveils next generation of drug discovery AI model
AEM Holdings Q1 net profit tumbles 85% to S$2.4 million
World’s biggest tea buyer Lipton’s sale of last farms is a strategy shift
JPMorgan, Nomura limit Segantii exposure on Hong Kong case