Rex International (SGX:5WH) provided an update on an independent summary competent person's report on the H7 and H8 reservoirs in the Seme Field in Benin, according to a filing with the Singapore Exchange on Monday.
According to the report prepared by Tetra Tech RPS Energy, the field has demonstrated good productivity, with H7 and H8 reservoirs containing hydrocarbons. However, the well penetrations have not been developed yet and will be phase 2 of the field's development plan.
The report has labelled H7 and H8 as contingent resources.
Shares of the company were up nearly 1% in recent trading.
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