Rex International's Unit Finishing Drilling Operations in Seme Field in Benin, West Africa; Shares Up 3%

MT Newswires

01/26

Rex International's (SGX:5WH) subsidiary, Akrake Petroleum Benin, is set to finish its drilling operations on the AK-2H production well in the Seme Field in Block 1, Benin, West Africa, with the well expected to be ready for production in February, according to a Monday filing with the Singapore Exchange.

The well was designed to drain the western section of the field from the H6 reservoir.

Meanwhile, the company's offshore production unit, Stella Energy 1, and floating storage and offloading unit are in the final stages of installation.

Shares of the oil exploration and production company were up nearly 3% in Wednesday's morning trading.

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