Rex said its subsidiary Lime Petroleum Holding is facing short-term liquidity pressure due to higher drilling costs and delayed oil-production revenue in Benin. Lime Petroleum has cash call obligations for Norway’s Yme Field (25%) and Bestla Field (17%), and it may lose these interests if it cannot fund them by early April and end April, respectively. Cash calls for the Brage Field (33.84%) were up to date as of 16 March. Nordic Trustee issued a written resolution for bondholders of Lime Petroleum Holding’s 2027 and 2028 bonds to approve expedited interim liquidity funding ahead of a recapitalisation process. The proposed measures include engaging Alvarez & Marsal Europe as restructuring adviser and to provide a chief restructuring officer.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Rex International Holding Limited published the original content used to generate this news brief via Singapore Exchange Limited (SGX) (Ref. ID: 209K6OI6M2OE3LM7) on March 17, 2026, and is solely responsible for the information contained therein.