Rex has announced that one of its
companies that it has a 27.86% stake in, Fram Exploration
ASA, the operator of the Colorado and North Dakota
concessions has found oil with the assistance of Rex Virtual
Drilling technology in Schlak #3 well in North Dakota which
will be the first well to be put on production. The onshore well
has now reached a stable early production of about 50-60
barrels per day (bpd) of oil.
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