Rex International Grows Stake in Yme Oil Field

Rex International Holding Ltd. (SG:5WH) has released an update.

Rex International Holding’s subsidiary, Lime Petroleum, has bolstered its presence in Norway by acquiring an additional 15% stake in the Yme oil field, raising its total interest to 25%. The deal with OKEA AS involves an initial payment of $15.65 million with future payments contingent on decommissioning stages, strengthening Lime’s evolution into a significant exploration and production entity on the Norwegian Continental Shelf.

For further insights into SG:5WH stock, check out TipRanks’ Stock Analysis page.