2026 12 January LPH seeks bondholders’ approval for a deferment of its obligation to pay interest payments falling due in January 2026 for its bonds and a temporary waiver and suspension of the Minimum Liquidity covenants for the bonds until 31 March 2026. The requests have arisen due to an unexpected delay in income from oil production and additional costs of drilling operations as a result of operational and logistical challenges in the Sèmè Field, offshore Benin, operated by LPH’s subsidiary Akrake, leading to an unfortunate negative impact on LPH’s short-term cash flow and liquidity position. 13 January The Company issues a Circular on the proposed spin-off of the commercial drone business of the Company by way of a Reverse Takeover and Listing of Xer Tech AB on the Sweden Spotlight Stock Market. 19 January LPA is awarded a 25 per cent interest in PL1279, which contains the Vette discovery, in the 2025 Awards in Predefined Areas (“APA 2025”) round in Norway. The Yme partnership is looking to develop the licence with the Yme Inspirer. The new Talisker production well in the Brage Field, in which LPA has a 33.8434 per cent interest, comes onstream as planned, despite an ambitious timeline, and is looking promising. Development of PL740 Bestla (LPA: 17 per cent) as a tie-back to the Brage Field is completed. The wells are safely suspended and will be ready for Christmas tree installation in Q3 2026. 26 January LPH obtains bondholders’ approval for its requests to defer LPH’s obligation to pay the interest payments falling due in January 2026 for its Bonds, and to temporarily waive and suspend the Minimum Liquidity covenants for the Bonds until 31 March 2026, providing LPH with enhanced near term financial flexibility. All other terms and conditions of the bond agreements remain unchanged and in full force and effect. 27 January Rex enters into placement agreements with two funds, for the allotment and issuance of 40,082,930 new ordinary shares in the issued capital of the Company; and the placement of 13,187,000 existing ordinary shares held by the Company as treasury shares. Under the terms of the placement agreements, the Company has agreed to issue to these investors, 53,269,930 free, detachable, unlisted and nontransferrable warrants in the Company. 28 January Rex shareholders approve the resolution on the Proposed Spin-off of the Commercial Drone Business of the Company by way of a Reverse Takeover and Listing of Xer Tech AB on the Sweden Spotlight Stock Market at an Extraordinary General Meeting. The transaction is completed on the same day. 29 January Rex Oman Ltd., MOL’s parent company, signs a contract for the Energy Emerger jack up drilling rig, which will be used to perform MOL’s drilling of three development wells in the offshore Yumna Field in Block 50, Oman. 2 February A discovery made in the Knockando Fensfjord prospect in the Brage Field, in which LPA has a 33.8434 per cent interest, is announced. Preliminary estimates indicate additional resources for Brage of between 0.5 and 1.5 million standard cubic metres (Sm3) of recoverable oil equivalent (o.e.) if the discovery is oil. If it is gas, the preliminary volume estimate is between 0.4 and 0.9 million Sm3 of o.e.. The Brage Field partners are now considering opportunities for developing Knockando Fensfjord. Rex International Holding Limited 19
RkJQdWJsaXNoZXIy NTM2MDQ5