Rex Subsidiary Lime Petroleum Completes Acquisition of Repsol's Interest in the Brage Field

Source: www.gulfoilandgas.com 12/31/2021, Location: Europe

Rex International's subsidiary Lime Petroleum has completed the previously announced acquisition of 33.8434% interests in the Wintershall Dea Norge-operated Brage field and five licences on the Norwegian Continental Shelf over which the Brage field straddles for a post-tax consideration of US$42.6 million from Repsol Norge.

The board of directors of Rex International Holding Limited (the “Company”) refers to the Announcements and Press Releases and wishes to announce that it has received confirmation from LPA that the Acquisition had been completed on 31 December 2021 (the “Completion”).

Pursuant to the Completion, which will have an effective date from 1 January 2021 (a standard practice for licence transactions in Norway), LPA now holds a 33.8434% interest in the Brage Field and the Target Assets.


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