Rex's 2Q losses widened to USD0.7m

No thanks to zero recognized revenue.

According to OSK, Rex, an upstream oil & gas company which just listed in July on the Catalist board, posted its 2QFY13 results. The losses widened to USD0.7m from USD0.3m a year ago as no revenue has been recognised.

Here's more:

The group was still involved in exploration and drilling stage has so far yet to commence production. Moving on, the group expect its drilling programme in Oman to commence in mid Q4 this year and the three new licenses in Trinidad and Tobago to contribute from FY14 onwards.

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