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Lime Petroleum Completes 15 Percent Farm-in Two Norwegian Licenses

Source: www.gulfoilandgas.com 6/1/2020, Location: Europe

Unless otherwise defined, capitalised terms in this announcement shall have the same meaning given to them on the Company’s press release dated 25 March 2020, in relation to the Company’s 90% subsidiary Lime Petroleum AS’s (LPA) acquisition of 15% interests in each of the licences PL937 and PL937B in the Norwegian Sea from INEOS E&P Norge AS (“INEOS”) (the Farm-in).

The Board of Directors (the Board) of Rex International Holding Limited (the “Company” or “Rex”, and together with its subsidiaries, the “Group”) refers to the Press Release and wishes to announce that it has received confirmation from LPA that the Farm-in has been completed on 29 May 2020 (the “Completion”).

Pursuant to the Completion of the Farm-in, which will have an effective date from 1 January 2020 (a standard practice for licence transactions in Norway), LPA now holds 15% interests in each of the licences PL937 and PL937B. The operator of the two licences is INEOS.

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