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Rex revival

SAVIORFOREVER
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19-Aug-2021 08:58

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Last Friday contra buyers must sell today. Can see below 190?

Bid Bid Vol(K) Ask Ask Vol(K)
0.192 579.9 0.192 300
0.191 413 0.193 110
0.190 679.4 0.194 450
0.189 390 0.195 415.7
0.188 521 0.196 794.7
0.187 135 0.197 954.7
0.186 453.2 0.198 1,000
0.185 345.2 0.199 1,055
0.184 870.5 0.200 1,081.1
0.183 283 0.205 6,780.5

Trade with caution no contra buy no short and DYODD

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boyboy61
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19-Aug-2021 04:27

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Brent now 67.15

gregtan123 ( Date: 18-Aug-2021 13:17) Posted:

Rex International Holding Ltd (REXI SP)

Company Update: 18 August 2021

Bulking its war chest

Good start even better second half. Rex International Holding (Rex) reported its highest semi-annual revenue since listing in 2013. Rex&rsquo s 1H2021 PATMI of US$24.0mn is a significant reversal from the US$20.1mn loss in 1H2020, driven by higher production and oil prices. We expect better performance ahead as the group grows organically and through acquisitions.
Record free cash flows. Free cash flow generated by oil and gas companies are expected to break records this year with oil currently close to US$70 per barrel. For Rex, the windfall will continue to strengthen its already strong balance sheet and give it opportunities to diversify.
We maintain an Outperform recommendation while raising our DCF-backed target price to S$0.33, factoring in higher production from Oman.

Good first half

Rex reported a 1H2021 PATMI of US$23.9mn, making up 21% of our updated full-year forecast of US$115.3mn. This is line with our expectations as Rex will benefit from the full effect of higher oil prices and contribution from Brage in the second half of 2021. Net cash (Cash + quoted investments &ndash debt) strengthened to US$21.3mn as at end June 2021. The group generated positive operating cash flows of US$17.8mn and spent US$22.0mn on E& P capex. Its net cash should be at least US$42mn higher (net to Rex as per our estimates) given that it only received the sale of oil from three liftings in July and August 2021.

Even better going forward

The acquisition of the 33.84% interest in the oil producing Brage Field in Norway will be effective from 1 January 2021, after approval from the Norwegian authorities. Brage Field will add around 3.4k barrels of oil production per day net to Rex&rsquo s subsidiary, Lime Petroleum. We estimate this will translate to around US$20mn free cash flow net to Rex in 2021. The acquisition will be funded by the US$60mn senior secured bond that was fully subscribed back in June 2021. For the year ahead, based on US$65 oil price, we forecast Rex&rsquo s net cash position to surge to US$107mn by FY2022F. This is equivalent to S$144mn or 58% of the group&rsquo s current market capitalisation (based on 19.2 Sing cents share price).

We are bullish on oil prices

Rex&rsquo s average realised oil price was US$62 per barrel in 1H2021, an increase from US$23 per barrel in 1H2020. Brent oil prices have remained resilient above US$68 per barrel since May, despite concerns over the rising Covid cases in China. While China has recently reduced oil imports, it is at the expense of drawing down its onshore storage levels. Hence, China will eventually have to begin increasing oil imports later this year. Furthermore, global crude inventories continue to decline. Overall, we should see a positive tailwind to oil prices driven by China&rsquo s resumption of oil imports going into the fourth quarter, as well as an accelerating economic recovery in 2022.

https://www.kgieworld.sg/research/rex-international/?utm_source=rss& utm_medium=rss& utm_campaign=rex-international

kt3152 ( Date: 18-Aug-2021 10:49) Posted:

Yes 33c by kgi... They bot from me 205 on Monday as well during one buy up.....

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SgYuan
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18-Aug-2021 14:26

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rex day
main w4 210 up 38.2%
px hit 197 up fib 14.6%
see next 2 levels

mini ew on w2 193 px hit 194
this must hold then w3 come

if not w5 dn

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kiattttt
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18-Aug-2021 13:40

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ahhh shit, see this person' s name and i might just liqiduate all my holdings on REX

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gregtan123
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18-Aug-2021 13:17

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Rex International Holding Ltd (REXI SP)

Company Update: 18 August 2021

Bulking its war chest

Good start even better second half. Rex International Holding (Rex) reported its highest semi-annual revenue since listing in 2013. Rex&rsquo s 1H2021 PATMI of US$24.0mn is a significant reversal from the US$20.1mn loss in 1H2020, driven by higher production and oil prices. We expect better performance ahead as the group grows organically and through acquisitions.
Record free cash flows. Free cash flow generated by oil and gas companies are expected to break records this year with oil currently close to US$70 per barrel. For Rex, the windfall will continue to strengthen its already strong balance sheet and give it opportunities to diversify.
We maintain an Outperform recommendation while raising our DCF-backed target price to S$0.33, factoring in higher production from Oman.

Good first half

Even better going forward

We are bullish on oil prices

kt3152 ( Date: 18-Aug-2021 10:49) Posted:

Yes 33c by kgi... They bot from me 205 on Monday as well during one buy up.....

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papayaface
Supreme

18-Aug-2021 10:52

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Yells: "This is the best time to enter....when everythings uncertain"

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Be very weary of such recommendations. DYODD. Good luck

sengkang ( Date: 18-Aug-2021 10:24) Posted:

KGI research today update it' s recommendation on Rex.
Revised price target 33.0c. :))

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kt3152
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18-Aug-2021 10:49

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Yes 33c by kgi... They bot from me 205 on Monday as well during one buy up.....

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sengkang
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18-Aug-2021 10:24

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KGI research today update it' s recommendation on Rex.
Revised price target 33.0c. :))

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SAVIORFOREVER
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18-Aug-2021 09:50

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Congrats to those who bought 190.

Bid Bid Vol(K) Ask Ask Vol(K)
0.194 396.3 0.196 526.5
0.193 1,453.9 0.197 673.7
0.192 1,199 0.198 862.1
0.191 1,182.6 0.199 480
0.190 795.1 0.200 1,885.1
0.189 513 0.205 5,868
0.188 865 0.210 3,606.6
0.187 490 0.215 2,857.8

Trade with profits and DYODD

sengkang ( Date: 18-Aug-2021 09:41) Posted:

Rebounding from 19.0c bottom....

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sengkang
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18-Aug-2021 09:41

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Rebounding from 19.0c bottom....

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SAVIORFOREVER
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18-Aug-2021 09:09

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Bid Bid Vol(K) Ask Ask Vol(K)
0.190 122.1 0.191 146.9
0.189 385.3 0.192 499.2
0.188 932 0.193 653.9
0.187 690 0.194 360
0.186 601 0.195 600
0.185 505 0.196 350
0.184 350 0.197 250
0.183 543 0.198 546
0.182 332 0.199 285
0.181 430 0.200 1,960.1
0.180 215.6 0.205 5,652.9
0.179 2.4 0.210 3,066.6
0.175 217 0.215 2,857.8
0.173 100 0.220 2,898.8
0.172 100 0.225 2,459
0.170 108 0.230 2,238
0.168 20 0.235 920
0.166 30 0.240 1,070
0.162 20 0.245 2,595
0.161 60 0.250 2,308.2

Trade with awareness and DYODD

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SAVIORFOREVER
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17-Aug-2021 16:38

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Contra buyers bleeding profusely.

Bid Bid Vol(K) Ask Ask Vol(K)
0.191 20.6 0.192 706.7
0.190 2,213.6 0.193 1,109.3
0.189 989.6 0.194 930.1
0.188 997 0.195 480.4
0.187 550 0.196 455
0.186 563 0.197 240
0.185 271 0.198 716
0.184 410 0.199 630
0.183 533 0.200 1,586.1
0.182 280 0.205 6,470

Trade with expectation and DYODD

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SAVIORFOREVER
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17-Aug-2021 13:47

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Congrats on 192. Tomorrow buy lower?

Trade with expectation and DYODD

Sgvale ( Date: 17-Aug-2021 09:37) Posted:

Q buy 192

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SAVIORFOREVER
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17-Aug-2021 12:30

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Bid Bid Vol(K) Ask Ask Vol(K)
0.190 1,874.8 0.190 2,729
0.189 489.7 0.193 100
0.188 764.7 0.194 240.1
0.187 362.7 0.195 735.7

Trade with awareness and DYODD

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stanip
Veteran

17-Aug-2021 12:07

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Still uncertain as the China lock-down picture might turn either way...

LZLOmega ( Date: 17-Aug-2021 11:38) Posted:

I dont think it will be that long as it is the fear mechanism ruining the stock prices (mostly) as oil prices only dropped 1%. It should recover by the end of the month or early Sept.

SAVIORFOREVER ( Date: 16-Aug-2021 23:03) Posted:

Wonder how many contra buyers run this morning.
Very hard to climb back up again. Have to wait for a few months to see 200 again?
Shortsellers need to cover back lower and the counterparts will ensure that.
Retailers all beaten down.
There should be a technical rebound though but not sure when.

Trade with market force and dreamers and DYODD

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LZLOmega
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17-Aug-2021 11:38

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I dont think it will be that long as it is the fear mechanism ruining the stock prices (mostly) as oil prices only dropped 1%. It should recover by the end of the month or early Sept.

SAVIORFOREVER ( Date: 16-Aug-2021 23:03) Posted:

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SAVIORFOREVER
Supreme

17-Aug-2021 11:28

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Where's the promised 250 255 260 265?

Trade with awareness and DYODD

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SAVIORFOREVER
Supreme

17-Aug-2021 09:52

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High chance.

Bid Bid Vol(K) Ask Ask Vol(K)
0.192 428.2 0.194 519.3
0.191 739.5 0.195 664.7
0.190 600.9 0.196 639.7
0.189 475 0.197 565
0.188 569.8 0.198 879
0.187 360 0.199 955
0.186 451 0.200 2,275
0.185 271 0.205 5,155

Trade with caution no contra buy no short and DYODD

Sgvale ( Date: 17-Aug-2021 09:37) Posted:

Q buy 192

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Sgvale
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17-Aug-2021 09:37

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Q buy 192

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SAVIORFOREVER
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17-Aug-2021 08:41

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Bid Bid Vol(K) Ask Ask Vol(K)
0.196 80 0.196 55.3
0.195 200.9 0.197 300
0.194 110 0.198 589
0.193 210 0.199 960
0.192 105 0.200 1,790
0.191 655 0.205 6,102.9
0.190 199.5 0.210 5,098.8
0.189 185 0.215 2,822.8
0.188 360 0.220 4,233.8
0.187 250 0.225 3,649
0.185 170 0.230 3,608

Trade with awareness and DYODD

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