06 August 2014
REX Quarterly Report Summary - August 2014
EPS: -0.56 US Cents (first half of 2014)
NTA: 15.65 US Cents
Business Review
No revenue was recorded in both 2Q FY2014 and 2Q FY2013 as the Group was primarily involved in exploration and drilling activities. The share of loss in relation to Caribbean Rex, HiRex and Rexonic in 2Q FY2014 were predominantly due to expenses incurred in relation to well stimulation, exploration and
drilling activities.
Non-current assets increased to US$98.54 million as at 30 June 2014, from US$82.50 million as at 31 December 2013. The increase was largely due to 1) capital injections into Lime and Caribbean Rex of US$12.74 million and US$2.57 million respectively over the six-month period, partially offset by share of loss in the jointly controlled entities of US$3.68 million, and 2) purchase of an available-for-sale investment in North Energy ASA of US$3.84 million, which was subsequently marked to market at US$4.41 million as at 30 June 2014.
The Group had working capital of US$72.85 million as at 30 June 2014, as compared to working capital of US$94.33 million as at 31 December 2013, a decrease of US$21.48 million. The decrease in working capital was largely due to capital injections into jointly controlled entities of US$15.31 million, purchase of available-for-sale investment of US$3.84 million and general working capital of US$3.18 million.
Company Outlook Comment
Barclay’s “Global 2014 E&P Spending Update” report said that oil and gas companies will increase exploration and production (E&P) spending by 6 per cent to US$712 billion in 2014, despite a slight pullback in spending by industry majors. Barclays said it expected higher spending in Africa and Asia this year, but lower capital budgets in Europe and Latin America would limit the overall increase. The report is based on a survey of more than 300 oil and gas companies in May 2014.
The Group is continuing its five-well onshore drilling programme in Trinidad into the third and fourth quarters of 2014. It is also on track with its plans to undertake extended well testing and early production in the Block 50 Oman concession in the first half of 2015. Active discussions on other business opportunities continue to be in progress and the Company will make the necessary announcements as and when there are material developments.
My Notes
This is high risk investment as the company is still in the growing stage (drilling stage before production stage). I would need to do more homework to understand the business model of this company.
Subscribe to:
Post Comments (Atom)
View All My Posts Here
-
►
2015
(4)
- ► March 2015 (1)
- ► February 2015 (3)
-
▼
2014
(191)
- ► December 2014 (2)
- ► November 2014 (8)
- ► October 2014 (8)
- ► September 2014 (6)
-
▼
August 2014
(51)
- Straco - My View of Its Acquisition / Lease of Sin...
- Fundamental Analysis - PB Ratio, PE Ratio and Divi...
- Civmec FY2014 Report Summary - August 2014
- Silverlake FY2014 Result Summary - Aug 2014
- SGX - Board Lot Size Reduced to 100 Units Starting...
- My Notes on Oil & Gas Sector - August 2014
- Thai Beverages Half Yearly Report Summary - August...
- CPF to Allow Partial Withdrawal after Age of 65 - ...
- Number and Price of Private Homes Sold Trend - Aug...
- Time Value of Money - Key Thing You Need to Know
- Sino Grandness Quarterly Report Summary - August 2014
- It's Never Too Late to Plan For Your Retirement
- Bumitama Agri Quarterly Report Summary - August 2014
- Singapore Population - August 2014
- Food Empire - Recovering from Russia-Ukraine Crisi...
- Straco Quarterly Report Summary - August 2014 (Rev...
- Valuetronics Quarterly Report Summary - August 201...
- CSE Global Quarterly Report - August 2014 (Net Pro...
- Breadtalk Quarterly Report Summary - August 2014
- Super Group Quarterly Report Summary - August 2014
- Sarine Technology Quarterly Report Summary - Augus...
- Q&M Quarterly Report Summary - August 2014
- Middle East, Singapore, China. What's Next?
- Wheelock Properties Quarterly Report Summary - Aug...
- Nam Cheong Posted 76% Increase in Net Profit - Aug...
- F&N Quarterly Report Summary - August 2014
- Lee Metal Quarterly Report Performance Summary - A...
- STI Below 3,300 Point - 8 August 2014
- Wilmar Quarterly Report Presentation Slide - Augus...
- Wee Hur Quarterly Report Media Release - August 2014
- Why Choosing a Dividend Play Stock is Better Than ...
- Chip Eng Seng Quarterly Report Summary - August 2014
- REX Quarterly Report Summary - August 2014
- Yang Zi Jiang Quarterly Result Summary - August 2014
- Wee Hur First Venture in China - August 2014
- The Hour Glass Quarterly Report Summary - August 2014
- ARA Quarterly Report Snapshot - August 2014
- Global Logistic Properties Presentation Slides Hig...
- Sembcorp Marine Quarterly Report Media Release - A...
- Riverstone Quarterly Report Media Release - August...
- OUE Quarterly Report Summary - Aug 2014
- AsiaPhos Quarterly Report Snapshot - August 2014
- UNITED INDUSTRIAL CORPORATION LIMITED Quarterly Re...
- Jardine Matheson Quarterly Report Snapshot - Augus...
- SGX To Impose Tighter Rule Next Year (2015) - Aug ...
- DBS Quarterly Report Media Release - July 2014
- Mencast Quarterly Report Highlight - July 2014
- UOB Quarterly Report Media Release - July 2014
- Hong Kong Land Quarterly Report Media Release - Ju...
- Osim Latest Quarterly Report Highlight - July 2014
- Roxy Pacific Media Release - July 2014
- ► April 2014 (5)
- ► March 2014 (10)
- ► February 2014 (19)
- ► January 2014 (20)
-
►
2013
(175)
- ► December 2013 (12)
- ► November 2013 (7)
- ► October 2013 (12)
- ► September 2013 (7)
- ► August 2013 (31)
- ► April 2013 (20)
- ► March 2013 (8)
- ► February 2013 (13)
- ► January 2013 (18)
-
►
2012
(132)
- ► December 2012 (43)
- ► November 2012 (11)
- ► October 2012 (7)
- ► September 2012 (31)
- ► August 2012 (20)
- ► March 2012 (1)
- ► January 2012 (5)
-
►
2011
(226)
- ► December 2011 (10)
- ► November 2011 (11)
- ► October 2011 (8)
- ► September 2011 (24)
- ► August 2011 (48)
- ► April 2011 (17)
- ► March 2011 (10)

eToro is the most recommended forex broker for beginner and advanced traders.
ReplyDelete