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Rex JV to buy 30% of North Sea licence

The area contains "interesting exploration targets" that are being evaluated

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Published Wed, Aug 19, 2015 · 09:50 PM

Singapore

CATALIST-LISTED oil exploration and production firm Rex International announced on Wednesday evening that a jointly controlled entity will acquire a 30 per cent stake in an area in the North Sea known as licence PL410.

"The licence contains a number of interesting exploration targets that are being evaluated leading to the drill-or-drop milestone in the first quarter of 2016," Rex said.

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