Rex International Holding Limited, and together with its subsidiaries announced that its 64.17 per cent-owned licence-holding company Caribbean Rex Limited (Caribbean Rex), spudded its first onshore well in its Cory Moruga concession in Trinidad & Tobago on 29 April 2014. This is the first of a five-well onshore drilling programme that Caribbean Rex is undertaking in 2014 in its South Erin and Cory Moruga concessions.
The target drilling depth of this first well is 6,700 feet. The drilling of the subsequent four wells will follow suit one after another over the next half year. Drilling and completion work for each well is expected to take between 25 and 50 days, depending on the well depth and geology.