Rex International Holding has entered into a joint study agreement with the co-founders of Helios Aragon for the exploration of natural hydrogen in Oman.
According to a Sept 23 release, Helios Aragon aims to grow a global portfolio of natural hydrogen and helium projects. The group also operates the Monzon Natural Hydrogen Project in Spain, the first development of its kind in Europe.
Currently, there are several exploration activities underway in Poland and the UK by the Helios group of companies.
John d’Abo, executive chairman of Rex International, says, “The joint study will allow us to evaluate further if there are synergies to be reaped and for Rex to contribute towards action against climate change in the future.”
Ian Munro, CEO of Helios Aragon, says, “Oman is widely regarded as one of the more prospective countries for the near-term discovery of commercial quantities of natural hydrogen.”
He adds: “We plan to leverage exploration learnings from Spain and elsewhere in Europe together with Rex’s local operational expertise to develop a thorough understanding of the hydrogen play system in Oman.”
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Shares in Rex International closed 0.1 cents higher, or up 1.0%, at 10.1 cents on Sept 23.
