LA Private

Stocks of the Hour: Rex Minerals, Omega Oil & Gas, Hartshead Resources

Rex Minerals (ASX:RXM) has signed a letter of intent with Hitachi. The LOI encompasses the allocation of Ultra-class mining equipment to Rex. Rex’s CEO, Richard Laufmann, “[the LOI] secures the Ultra-class fleet for Rex without any immediate financial commitment.” Shares are trading 4.44 per cent higher at 23.5 cents.

Omega Oil & Gas’ (ASX:OMA) first drilling campaign results confirm a major gas system. Omega’s MD Lauren Bennett commented: “Drilling has shown an even greater thickness of hydrocarbon-rich zones.” Shares are trading 13.04 per cent higher at 26 cents.

Hartshead Resources NL (ASX:HHR) announced that it is nearing completion of the FDP for the Phase I development of the Anning and Somerville gas fields. Project plan focussed on first gas production for 2025 is on track, following completion of the farm-out and consequential equity funding for development. Shares are trading 8.33 per cent higher at 2.6 cents.