5WH.SI Stock Today: February 19 — First Oil in Benin Lifts Shares

Rex International share price climbed today after the company said unit Lime Petroleum achieved first oil from the AK-2H well at Benin’s Seme Field. Shares of 5WH.SI traded at S$0.151, up 4.9%, with a volume surge. The move lifts near-term sentiment on SGX oil stocks as investors focus on production ramp timing. We review today’s print, the risk outlook into 2025, the technical setup, and what Singapore investors should watch next.

First Oil From Seme Field Lifts Sentiment

The Rex International share price hit S$0.151, up S$0.007 or 4.86%. Intraday ranged between S$0.146 and S$0.153. Volume spiked to 43,511,900 shares versus a 12,534,638 average, pointing to strong interest. Market cap stands at S$188.8 million. The stock sits above its 50-day average of S$0.1448 but below the 200-day at S$0.1637, keeping the medium-term trend cautious.

Lime Petroleum’s first oil from the AK-2H well at Benin’s Seme Field is a key operational milestone. It reduces project uncertainty and can support the Rex International share price as output stabilises. The next checkpoints are sustained flow rates, lifting costs, and ramp schedule. Investors should watch reported uptime and any guidance on additional wells that could lift 2025 production visibility.

Key Risks Still Front and Centre

Management still projects a 2025 net loss due to drilling complications, higher costs, and production delays. That guidance tempers today’s optimism around first oil. The Rex International share price may stay sensitive to any slippage in ramp-up or capex. Clear timelines for stabilised output and field development could narrow uncertainty and help re-rate the shares over time.

Loss-making metrics remain a watch item. EPS is -0.05 and the PE ratio is -2.9, with no dividend indicated. Liquidity is decent with a current ratio of 1.76, but leverage is elevated at a 5.03x debt-to-equity. Our stock grade is C+ with a Hold tilt, while profitability sub-scores skew weak, a mix that keeps the risk-reward finely balanced for SG investors.

Technical Picture on SGX

Momentum is neutral to soft. RSI prints 46.21 and ADX at 18.48 signals no strong trend. Stochastic at 8.33 and Williams %R at -90 flag near-term oversold conditions. Price trades near the Bollinger middle band at S$0.15, below the upper band at S$0.16 and above the lower band at S$0.14. The Rex International share price remains below its 200-day average.

Immediate resistance is S$0.153, then S$0.16 and the 200-day at S$0.1637. Support sits at S$0.146, then S$0.14 near the lower Bollinger band, with S$0.091 as the 52-week low. A close above S$0.1637 would improve the medium-term view. The Rex International share price losing S$0.146 could invite a retest of S$0.14.

How It Fits the SG Market Today

Broader risk appetite helped. Singapore stocks rose in tandem with regional gains, with the STI up about 1.3%, aiding sentiment in cyclicals and SGX oil stocks. See coverage from The Straits Times and Yahoo Finance. The Rex International share price benefited from both the corporate update and a firmer market backdrop.

At today’s close, market cap is S$188.8 million. The Rex International share price implies a PE of -2.9 on negative earnings and a Hold grade of C+ from our model, while profitability factors remain weak. With first oil in hand, incremental data on production, costs, and cash flow will matter most for valuation progress through 2025.

Final Thoughts

First oil at Benin’s Seme Field is a real step forward and it helped the Rex International share price today. The rally is supported by a broad risk-on tape and a heavy volume spike. That said, management still guides for a 2025 net loss, with drilling issues, costs, and timing the main swing factors. For near term, we would track sustained output, updates on the ramp schedule, and any clarity on capex. Technically, a break above S$0.1637 could unlock a stronger trend, while S$0.146 and S$0.14 are key supports. For SG investors, position sizing and event-driven risk control remain essential.

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The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.