UOB Kay Hian is keeping its “buy” recommendation on Rex International Holdings with an increased target price of 30 cents from 27 cents previously.
Following the successful test production of the Yumna 1 well (Yumna), the Ministry of Oil and Gas in Oman has awarded a declaration of commerciality (DOC) to Rex and approved the Field Development plan for Yumna Field.
See: Rex International gets Oman approval to fully develop oilfield
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)