Oilex Ltd was incorporated in Australia. Its operations are based out of five offices - our Perth head office, where geotechnical work, financial management and control are located; two in India focused on operations and government relations; and one in each in Muscat, Oman and Dili, Timor-Leste for field logistic, administration and finance support and government liaison. Currently Oilex's main country of operation for the purposes of AIM Rule 26 is India.

The Company is directing its efforts towards opportunities that have the potential to provide an exceptional return on investment. Our focus remains on searching for exploration and production assets in the prospective hydrocarbon basins of India , Australia - particularly in the Northwest Shelf and in the Timor Sea, and in the countries of Southeast and South Asia and near Middle East around the rim of the Indian Ocean. With eight permits/interests in prospective basins, Oilex has rapidly compiled a significant portfolio of oil and gas acreage that has a well-balanced mix of risk and reward.

Oilex now has interests in three field re-development and exploration projects in India; two exploration permits offshore Australia; one production sharing contract in the Joint Petroleum Development Area between Timor-Leste and Australia; one exploration and production sharing agreement onshore Oman and one production sharing contract onshore Sumatera Indonesia. Oilex is the operator of joint ventures comprising major Indian energy companies in all areas save for Indonesia. In Indonesia Oilex is non operator in a joint venture with an Indonesian company.

Website

http://www.oilex.com.au/index.cfm


Quarterly Report ( 31st October 2012 )

http://tinyurl.com/9ge6tx3

Up 7% today, far from a good run this year.

dreamcatcher i think this bottomed out yesterday and also noticed two whacking buys
of near £100k each which were obviously II buys IMVHO.

My last tip on here was MAGP at 0.50p and is now 5p which has made me a very tidy
profit, i think i may get the same gains here DYOR

alex36, have just taken a look at this and looks good to me

JazzT they could be sitting on one of the biggest discoveries in the indian ocean and
are about to drill an offset well to conduct flowtesting,last one had many technical
problems including a broken milling bit at the sharp end and caused delays.But going
by the report yesterday they have put a number of things in place now to get things
moving at last.

alex yes i just been reading that,i also like the fact they are fully funded and still
got a fairly low share issue at 354m.I picked out a few snippets from the report
just issued that appears to be saying things are going rather well.


"Preliminary results have been encouraging and support previous Cambay-76H
production modelling."

"post fracture stimulation downhole pressures were in excess of 5,080 psi for an extended period of time. The conclusion from the independent expert is that the sustained high pressure in the months after fracture stimulation indicates probable connection to a deeper high-pressured zone."

JazzT, you may find this recent article interesting


http://www.uwgcapital.com/#/oil-ep/4568820074

Oilex and its Cambay field is a tight gas play similar to those which have given the US virtual energy independence. India and the Gujarat state (one of the most industrial states in India) are in desperate need of this gas to forfill its much needed expansion plans and address nationwide power shortages.

Oilex has had a frustrating year so far with technical issues hampering its success, however they intend to go back to the drill bit soon to prove up its reserves and begin production via a modular facility which will allow it to expand production rapidly when further wells are developed.

There is execution risk involved here but we believe that the upside far outweighs the downside risks given the demand & supply inbalance in India and the recent technological advances in tight gas plays over the last few years.

Top of the range estimates for Oilex are as high as 1.6TCF and 248mmbls net to Oilex. This strongly hints that Oilex's current valuation accounts for almost none of this. Moreover, in October 2011 four deeper zones at Cambay were estimated to hold an undiscovered total of 12.4TCF GIIP and 11,592MMbo. This is a huge amount of potential GIIP and the current drilling program is looking to shore up some of these figures and value.

Use the recent about turn over foreign investment in India and share price weakness to build a position in Oilex for the impending multi well program. Oilex has other projects also such as stakes in an offshore Australian field and an asset near the small island of Timor Leste where it holds a 10% minority interest, however India is where its true value lies.

Investment summary

+ Early mover advantage

+ Cambay has world-class potential

+ Unmatched commercialization opportunities

+ Attractive fiscal and regulatory regime

+ Near-term production and cash flow potential

Thanks for the link alex,had not seen that before!

JazzT, there are also some good reports on their website worth a look which have
in depth detail on the cambay play.

Interesting that one of their backers have been increasing their stake in OEX lately
and think the new management team in place could do good things here.

jazz you may find some info on proactive investors of interest ( cambay ) as you will
see they about to start some major operations.


ProActive Investors september 2012:


"Oilex (ASX: OEX) will adopt for future Cambay field wells a number of recommendations made by an independent consultant to reduce the risk of issues it faced with the Cambay-76H well.

Higher than expected pressures following fracture simulation had forced Oilex to suspend the Indian well before a flow test could be conducted.

The consultant, which was provided all data collected during drilling, completion, fracture stimulation and milling and fishing operations, had noted the sustained high pressure in the months after fraccing indicates a probable connection to a deeper high-pressured zone.

Furthermore, the consultant concluded that the failure of the drill pipe during cleanout operations was due in most part to high torque caused by deposition of precipitates from the high density fluids inside casing and excessive friction due to possible distorted casing.

The degree of fatigue that the drill pipe had undergone prior to being used on Cambay-76H could not be determined.

To minimise the risk of similar failures recurring in future wells, the consultant recommended that:

*Design of well casing should incorporate higher safety factors to counter the potential for deformation during fraccing given the high natural formation overpressure;

*Request all downhole equipment and procedures from service providers be based on high formation pressures and fraccing program;

*Continue to use synthetic oil base mud for drilling operations;

*Use a rotating head so that well control operations do not interrupt drilling and clean out and also negate need to use heavy drilling fluids that may cause formation damage and wellbore blockage; and Use natural pressure in the formation to assist the cleanout operations during milling.


The analysis and recommendations will be carefully applied in the design of the offset well currently being undertaken.

Oilex holds a 45% operating stake in the Cambay field while Gujarat State Petroleum Corporation holds the remaining 55%."

Thanks alex,very interesting time coming up for OEX :-)

jazzT,yes they have quite a busy period coming up now

Have been researching oilex this week and found quite a few interesting facts. The main asset at cambay looks very similar to the large usa tight gas / oil plays that have been a big part of the american oil & gas revival in recent years.

According to recently released reports there is Independent verification of 222 BCF gas and 37 MMstb oil Contingent Resources and 420 BCF gas and 63 MMstb oil Prospective Resources at Cambay.And the area of operation offers direct infrastructure links located at the hub of Indian’s largest gas pipeline network.Local wholesale prices of both gas and oil are attractive and currently in high demand as imports have been making up the shortfall in local supply.

Technical problems have slowed progress for best part of the last year or so but the
company have recently revised their plan to bring cambay into production. In the
report issued at the recent general meeting on the 14th of november 2012 a number
of measures have been agreed both technical and operational and also a project
timeline has been introduced.

Starting mid to late december an offset well is due to be drilled and production flow
tested from the C-76H pad. This will be followed by three vertical wells and two
horizontal wells during 2013.

For anyone interested the report has been made available by the company and can
be found at the link below.

http://www.rns-pdf.londonstockexchange.com/rns/0840R_1-2012-11-14.pdf

square miler,appreciate your post and summary of oilex,i had an email exchange with the
new CFO last week and he confirmed the six wells planned starting shortly with the offset
well on C-76h.

He also said some other interesting things on timor.

thanks for that alex,i remember reading an article on Bruce Mc Carthy around 18 months ago and it explained how he helped turn Cairn energy into a major player and it also said that 2013 would be the year where oilex get cambay flying.I had held off buying here till now largely based on that and very happy to get in at rock bottom with this lot coming!


From page 15

http://www.rns-pdf.londonstockexchange.com/rns/0840R_1-2012-11-14.pdf


Workover 3 wells initially for incremental production*

Evaluate other short term production opportunities*

Drill 350m horizontal well from C-76H pad to prove flow rate and
produce up to 30,000 BOE in FY 2013-14 *

Convert some contingent resource to reserve *

Drill 4 appraisal/development wells to prove flow rate at other locations *

Produce up to additional 200,000 BOE in FY 2013-14 *

Convert more contingent resource to reserve *

Drill 10 wells a year from FY2014-15 onwards *

Increase annual production by ~100,000 BOE pa *

Convert resource to reserve progressively *

squaremiler, thanks for your post

alex they are forecasting some rather hefty uplift in production over the next year, so i think although they had the tech problems on cambay 76-H they had enough data from the well and logs to now re-model.Also looking at the diagram of the offset well they now seem to be going in very close to those two large formations to the south.

In my opinion the flow-test result on this well could be rather good.

RNS OUT - LETTER TO SHAREHOLDERS

Very positive statement

http://www.rns-pdf.londonstockexchange.com/rns/1063T_1-2012-12-10.pdf

alex,another positive sign they serious now on cambay,things could be kicking off anyday now and next year the drill schedule is RATHER BUSY.

Second day of a good rise and volume at the same time, spread at 6 / 6.50p

The dealings on Australia has been strong today, opening with a GAP and high volume

There is some good buying during the last hour, with larger trades paying premium ( 6.60 and 6.62p ) to offer 6.50p, bid is back to 6.25p

Another good performance back in Australia finishing at best of the day with a 25% rise
or doubling the price from the Intraday low recently and with a double bottom on the chart

over here she takes its time but rising also, but still early on the day

nice movement up this afternoon on lower volume than yesterday

The news of no reason for the share price movement did the job for the MMs AND SHARE PRICE DOWN

but a few days past is moving strongly up again

Oilex have issued a new presentation


http://www.oilex.com.au/files/130422%20%20Oilex%20Investor%20Presentation%20April%202013.pdf

Good or Bad ?

Brigg

Looks very good to me and about half way through the doc it shows they are
going to move into decent cashflows from the second half of this year.I think
from current market cap there could be significant upside on this one.

They also just got awarded a highly prospective block in western Oz where all
the oil majors been moving into.I might consider putting a fair few of these in
my ISA.

http://www.uwgcapital.com/#/oilex/4574257208

24th April 2013 - 11.24 am


Oilex and its Cambay field is a tight gas play similar to those which have given the US virtual energy independence. India and the Gujarat state (one of the most industrialized states in India) are in desperate need of this gas to forfill its much needed expansion plans and address nationwide power shortages.

Oilex had a frustrating 2012 with technical issues hampering its success, however they intend to go back to the drill bit soon to prove up its reserves and begin production via a modular facility which will allow it to expand production rapidly when further wells are developed.

There is execution risk involved here but we believe that the upside far outweighs the downside risks given the demand & supply inbalance in India and the recent technological advances in tight gas plays over the last few years.

Top of the range estimates for Oilex are as high as 1.6TCF and 248mmbls net to Oilex. This strongly hints that Oilex's current valuation accounts for almost none of this. Moreover, in October 2011 four deeper zones at Cambay were estimated to hold an undiscovered total of 12.4TCF GIIP and 11,592MMbo. This is a huge amount of potential GIIP and the current drilling program is looking to shore up some of these figures and value.

Use the recent about turn over foreign investment in India and share price weakness to build a position in Oilex for the impending multi well program. Oilex has other projects also such as stakes in an offshore Australian field and an asset near the small island of Timor Leste where it holds a 10% minority interest and more recently onshore Canning Basin Western Australia, however India is where its true value lies.

What is tight gas? - Tight gas is natural gas trapped in low permeability sandstone reservoirs. Tight gas reservoirs may produce economically if gas flow towards the well can be encouraged by processes such as hydraulic fracturing.


Tight gas reservoirs form in the same way as their conventional counterparts, the difference being that the rock into which the gas migrates after expulsion from the source has very low permeability. A typical tight gas reservoir has a better recovery factor than a shale gas deposit. Thus the density of recoverable gas per unit of land surface will usually be higher than for shale gas formations, although non-conventional techniques are still necessary for profitable production. Globally, volumes of tight gas are estimated to be between 11,000tcf and 18,000tcf, although low recovery factors, due to limitations in technology, mean that only 700-1,800tcf is currently deemed accessible. However the advances in drilling technology seen over the past few years in shale gas in North Americais are directly transferable to the tight gas fields that Oilex will currently begin drilling.

11/4/13 - Cambay Gas Sales Agreement signed - Gas Sales Agreement signed with an Indian public limited company the agreement covers sales of Cambay-73 gas for two years once all approvals are secured this agreement clearly demonstrates the excellent gas commercialisation opportunities in India. Production from Cambay-73 is expected to commence within two months of all Government approvals and gas sales will commence immediately thereafter. The initial gas volumes may be approximately 200 Mscf per day. In addition to the cash flow from gas sales, the production data from Cambay-73 should provide important data to support the premise of commercial production rates from the X and Y zones in the Eocene. With the drilling program agreed on the 10th which will include one firm horizontal well and four wells in a contingent drilling campaign the formal tendering of drilling rig and other long lead equipment has commenced. It looks like real movement at the field may be about to commence which will surely impact positively on the share price.

19/04/13 - Oilex has increased it's acerage with the additon of a Special Prospecting Authority with Acreage Option (SPA/AO) covering ~11,400 km2 (~2,800,000 acres) in the onshore Canning Basin, Western Australia. Oilex has also submitted bids on two gazettal blocks immediately adjacent to the awarded SPA area. This provides long-term growth optionality and geographical diversity whilst leveraging technical experience and commercial relationships of from Oilex's Indian unconventional energy strategy. The strategic rationale behind the purchase is that it provides a Low-cost, low-risk entry into a premier emerging unconventional basin which has key geological similarities to Oilex’s Indian acreage (thus repeatability). In 2011 EIA reported the Canning Basin has “risked technically recoverable resources ~ 229Tcf”. The field is in close proximity to infrastructure with gas pipelines passing through the SPA to mine sites.

Acting Managing Director Ron Miller said, "Our entry into the Canning Basin with SPA-0055 represents a low-cost, low-risk opportunity for Oilex to secure long-term growth optionality and geographical diversity in a second petroleum basin, without diluting its immediate focus on value delivery from the Cambay Field in India. We see this as a long term positive for shareholders and the share price may see medium term upside from the increasing activity in the area from industry peers as well as the acreages proximity to the mass natural gas markets of Asia especially Korea and Japan.

oil fund

I think oilex is looking a decent punt at these levels with all that is going on this year and the new oz acreage just added could prove an excellent addition for them,i would not be suprised to see an oil major coming in on that as a JV.

I believe they currently have a raw enterprise value of around 6.5p a share, to put things into context and that also ahead of the cambay operations about to start.

Could do very well this imvho

Oil Fund = Proslenes = Grannyboy = Blue Face

Mack R,i think they have five wells funded for this year at cambay and this should be
starting anytime from here.Also worth remembering that since the tech problems on
the 76-h well which held things up they have also discovered a number of "deeper zones"
which has pointed to a far larger resource.

So in summary it is possible for some very nice suprises here IMO

Unlike your other tip New World

http://www.proactiveinvestors.co.uk/companies/news/56310/oilex-shares-up-as-starts-tender-for-cambay-77-well-56310.html


Work has begun on getting a drill rig for Oilex's (LON:OEX Cambay 77 well, onshore India, the firm said.

Shares were lifted over 3% thsi morning after the firm posted its report for the three months to March 31 this year.

Oilex also said a gas sales agreement had been inked for off-spec gas from the Cambay-73 wel and was submitted to the Indian government for endorsement.

During the quarter, three well workovers have been completed at the project, where the company is the operator and has a 40% stake.

Notably, post period end, the company also received approval from the regulatory authorities in India for its work programme and budget activities to the end of March.

"Oilex continues its transition to an unconventional energy producer, focused on projects where the company has first mover advantage to assets with significant tight reservoir potential," the company told investors in the statement.

As at the end of the quarter, the firm had A$5.778 mln in cash.

And Interview with Ron Miller

http://www.proactiveinvestors.co.uk/companies/stocktube/1950/oilex-expecting-to-produce-gas-in-india-in-q4--1950.html

RNS issued today on the Magna deal at Cambay,i like the look of this with two
funded drills on a significant discovery and trading at near all time low :-)




03 October 2013


MAGNA cambay TRANSACTION update



Oilex Ltd (ASX: OEX, AIM: OEX. "Oilex"), refers to its announcement of 9 August 2013 (Announcement) in relation to its agreement (Sale Agreement) with Magna Energy Limited (Magna) whereby Oilex has agreed to sell up to a 15% participating interest in the Cambay Production Sharing Contract (Participating Interest) incorporating its Tight Hydrocarbon Project in Gujarat, India.



Under the Sale Agreement, Magna has the right to acquire:

(a)a 10% Participating Interest for US$4 million (Sale Interest); and

(b)an additional 5% Participating Interest for US$2 million (Option Interest).

Magna has already paid Oilex a US$ 200,000 deposit towards the Sale Interest.



Oilex is pleased to confirm, in satisfaction of a Sale Agreement condition precedent, it has received formal notice from each of the other Cambay joint venture participants that they have elected to waive pre-emption rights existing under the Cambay joint operating agreement.



The only remaining Sale Agreement condition precedent is the receipt of Shareholder Approval, which is scheduled to occur at an Extraordinary General Meeting scheduled for 4 October, 2013.



If Shareholder Approval is granted, Magna will pay Oilex the sum of US$3.8 million within 10 business days, being the balance of monies owing in respect of the Sale Interest. These monies are allocated to be spent on the Cambay-77H Drilling Activities under the Approved Work Program. The transfer of the Sale Interest will still be subject to approval of the Government of India and if this has not been satisfied prior to 1 May 2014 or such other date agreed by the parties, the consideration will be converted into shares in Oilex.



The Cambay-77H well will be the second multistage fracture simulated horizontal well drilled in the Cambay Project and is designed to confirm the applicability of North American technology for the development and production of tight hydrocarbon resources in India.



Magna has thirty days from the date upon which the US$3.8 Million for the Sale Interest is paid to Oilex to elect whether or not to acquire the Option Interest.



For and on behalf of the Board



Ron Miller

Managing Director

I think this could be worth a punt,they have Cairn Energy next door on what
looks an identical play and are throwing off good production numbers.

Oil FUND,you following me about lol !

This one has been off the radar for a while but has so much potential and is
good to see they are finally about to restart Cambay.As you say Cairn are
doing great things just next door in the same source rocks.

Hi Mack,there is an interesting looking chart here nicely timed with pending news flow,every time its hit a low in the past year it always bounces off with strong support.First conformation of that bounce today.

Oil Fund,yes the chart looks good and they have Rns this morning on shareholder
approval for the Magna Energy deal.


RNS Number : 7144P

Oilex Ltd

04 October 2013

4 October 2013

RESULTS OF GENERAL MEETING - FRIDAY 4 OCTOBER 2013

Oilex Ltd ("Oilex" ASX: OEX, AIM: OEX) advises that the resolution detailed below, which was put to the General Meeting of Shareholders held at Celtic Club 48 Ord Street West Perth on 4 October 2013, was passed on a show of hands:

As an Ordinary Resolution

Resolution 1 - Approval of Issue of Shares to Magna - Unwind Provisions

Proxy Voting

In accordance with Section 251AA of the Corporations Act, the proxy votes and number of shares voted were recorded as follows for 86 valid proxies:


INDIVIDUAL PROXIES FOR AGAINST ABSTAIN
-------------------- ----------- ---------- --------
Resolution 1 34,993,954 2,458,826 10,704
-------------------- ----------- ---------- --------


For and on behalf of Oilex Ltd

Robert Ierace

Chief Financial Officer & Company Secretary

Have added more today Mack :-)

Are they going to be drilling the same well or new ones ?

Square Miler,one sidetrack into the previous well and one new one i think.

Thanks Oil Fund

I found this post on another forum today which caught my eye - have to say i agree with the bulk of the posters comments.

-------------------

From Advfn today

"Just looking through the last financial statements i notice that Oilex have no corporate debt and after they get the cash from Magna Energy shortly they will have cash reserves of circa $11m ( plus another $2m if Magna take the additional 5% option at Cambay ) .

As they have a current market cap of only £11m and 392m shares in issue i think they are actually in pretty good shape ahead of the pending program at Cambay and there is alot of value here at this price. When you consider that not that long ago some independent analysts put a net asset value on Cambay of around 30p a share net to Oilex based on the Netherland & Sewel reports,i think it is clear why Oilex have been so careful to get the technical stuff right this time around and taken their time to prepare properly.

Last time around at Cambay they were stalled by a broken milling bit during the clean up and flow test phase of the operation,they subsequently appointed an Independent expert to analyse what went wrong and he has made a number of recommendations to the company which they are following this time around.

The company have said : "Cambay-77H well has been engineered and designed taking into consideration the recommendations of the independent expert. It has a 350 metre lateral section which has been designed with four stages of fracture stimulations, each containing two fracture initiation points for a total of 8 fractures along the length of the lateral section. The fracture stimulations will be undertaken using a "plug and perf" technique also widely used in tight formations in North America. "

"A successful production test will provide the catalyst for a potential pilot development project and provide data which will enable Oilex to increase production and cash flow while confirming the commercial potential of the Cambay "tight" X and Y zone reservoirs. The drilling campaign of three vertical and two horizontal wells and a pilot development project will also provide data to support converting Contingent Resources into Reserves."

Also i was looking through some of the documents issued on Cambay to see what the initial excitement over this asset was,and i found this of interest:


"In October 2011 Netherland, Sewell and Associates Inc. ("NSAI") completed an independent assessment of the Cambay Field "tight" reservoirs. NSAI assessed significant Contingent Resources and Prospective Resources with Unrisked Contingent Resources of 222 billion cubic feet of gas and 37 million barrels of oil from the two uppermost zones of a very thick hydrocarbon bearing section. Promisingly, NSAI also concluded that the deeper zones within the Cambay contract area contain very substantial Prospective Resources, highlighting significant additional potential in a very concentrated area of 161km (40,000 acres). "


So my summary of Oilex is that all in all you get a fair crack at some very decent upside here at this price and would be worth building a stake up here before the drills start turning. "

I came in here today as looks a decent opportunity :-)

PS - I see in the Rns today that they finally removed Mike Malone as COO and
have given Sundeep Bhandari the reigns to work with the JV partner.A solid
management change around in my book as Mr Bhandari has a very solid record
in India including some great success at Cairn India.So a local man who has
done it all before with Cairn including a near identical play in the cambay basin
can only be a fantastic development for oilex as the drills near spud !



( Found this on Oilex website on Mr Bhandari )

Sundeep Bhandari was appointed as Vice Chairman in November 2011. Mr Bhandari, who is based in New Delhi has more than 15 years experience in the energy business. Mr Bhandari has worked with several multinational petroleum companies, including Cairn Energy, Mobil, Marathon, ENI, PGS and Command Petroleum, in advising and developing their businesses in India. He has played a major part in several successful exploration and development projects including the producing Ravva oil and gas fields, Laxmi and Gauri gas fields and Cairn Energy’s Rajasthan oilfields

Interesting article on oilex just out on Proactive investors




Oilex eyes leaps forward on two fronts


October 08 2013, 10:36am


A big two months are coming up for oil and gas explorer Oilex Resources (LON:OEX).

The group expects potentially company-changing developments in both India and Australia, its two key areas of focus.

In Australia, Oilex has applied for two additional licences adjacent to its Canning Basin acreage in Western Australia.

This is in the heart of the burgeoning shale gas industry down under and Oilex says the two gazettal blocks it wants sit in the last undrilled half-Graben in the region.

An announcement is imminent as it lodged its bid in April and the award of licences of this type in Australia takes between six and eight months,

Oilex’s application followed its receipt of a huge tranche of early-stage exploration land in this highly prospective shale gas part of Western Australia.

Chief executive Ron Miller is hopeful of winning both of the new licences.

He said shale activity has really taken off in Australia in the past two years as the oil and gas majors have moved in.

Indeed, there has already been significant interest from companies interested in farming into its block, especially from North America.

Miller said these firms see the Canning Basin as a very attractive proposition compared acreage in the US.

Oilex has already had to put out one announcement stating it is in discussions with a number of groups.

Miller said: “People are interested because if we can get control of the entire plate fairway [the three licences] there is only one seller.”

He adds that some of the talks have already involved a potential farm-in deal that includes the new licences.

Oilex’s strategy for Australia is similar to its plans in India, where the company is attempting to use technology proven in the US shale market to supply the energy hungry country.

Investors familiar with the Oilex story will know the results have been mixed so far, with the very expensive failure of well 76H at its Cambay Field still raw for many.

Miller says he and the management team have gone through in detail an exhaustive independent engineering review of 76H’s problems.

“Can we guarantee that it won’t happen again? No. Are we confident we are doing everything we can to mitigate the risk? Absolutely.

“We’ve replaced a number of key individuals with personnel with a lot of experience of the North American unconventional drilling scene.

“Our drilling manager has over drilled over 300 wells and has worked often [elsewhere] with the operations manager. The pair has transformed our understanding of how we can do it right this time.

“It’s not a resources risk. We are not going to make a discovery, that’s already been done. The buzz will come from overcoming the execution risk associated with the drilling of this well.”

The acid test is fast approaching as Oilex finalises plans to start an offset well next to 76H, 77H, to try to unlock some of 167mln barrels estimated to be contained at Cambay.

If successful, this will transform the perception of Oilex, Miller believes.

“At present, the situation in India is that we have a very substantial contingent resource. These are technically recoverable hydrocarbons in the ground that are discovered and are recoverable.

“But they have not been demonstrated to be economically recoverable as they are dependent on a successful proof of concept well on India.”

A positive result for well 77H, along with a recent vertical well, Cambay 73, will go a long way to towards this proof.

Oilex has also been putting in place the funding for its share of 77H. As well as raising US$3.4mln from shareholders, the company has reduced its 45% stake to 30% through the sale of up to 15% to private equity group Magna for US$6mln in total.

That should raise enough to cover its share of the US$12.8mln cost of 77H with some spare to carry out the basic exploration requirements at its existing licence in the Canning Basin.

“The price Magna is paying is based on where we are rather than where we would like to be,” Miller concedes.

He adds the recent, unprecedented move by the Indian government to raise the base price for gas in the country from US$4.81 to US$8 per mcf also meant it will get the same value out of Cambay, despite having a smaller stake.

Miller says the company has been doing all of the unglamorous part of oil exploring recently such as making sure the paperwork is right and choosing a contractor, but the next few months will mark a change in pace.

“When we have secured a rig [at Cambay] and have our lead items in place, that's when people will start to get excited again.”

Very interesting article,a fair amount of news on its way by look of it !

I'm in!

Good news!!!

Oilex Ltd is pleased to announce that Cambay-77H has reached TD at 2370m MD. The primary reservoir target (Y Zone) has been intersected on prognosis and increased gas readings similar to Cambay-76H indicate the reservoir is hydrocarbon bearing. A full suite of logs will be acquired subsequent to conditioning the wellbore, after which, the 4 ½ inch production casing will be set and cemented in preparation for a fracture stimulation programme.

In addition to drilling to TD, subsequent to the announcement on 8th April 2014, drilling operations have:

· Modified and tested the BOP for the 8 ½ inch hole

· Changed the drilling assembly to suit the 8 ½ inch hole size

· Weighted up the mud system for anticipated over-pressure in the reservoir

· Drilled out excess cement and retrieved some debris

· Drilled out of the 9 5/8 inch casing and conducted a formation integrity test (FIT)

· Directionally drilled into the Y zone reservoir section

Cambay-77H is offset 300m from the Cambay-76H horizontal well that underwent a successful multiple staged fracture stimulation programme along its 633m lateral section in 2012. However, it was suspended before testing due to downhole mechanical problems. Prior to suspending the well, gas and condensate flowed to surface during well control operations.

A shorter lateral section (350m) in Cambay-77H coupled with a conventional "plug and perf" method for fracture stimulation is expected to facilitate the primary goal of the well - recording hydrocarbon flow information at surface during a production test.

Oilex will continue to inform the market about progress during operations on a milestone basis

An announcement in relation to flow back and production testing will be dictated by the well response to the stimulation programme

A time gap between setting and cementing the 4 1/2 inch production casing and completion of mobilisation of the fracture stimulation spread is anticipated in order to minimise potential standby charges associated with demobilisation of the drill rig from site.

Managing Director of Oilex, Ron Miller, said;

"It is pleasing that drilling operations, following a mechanical disruption on the rig, have progressed relatively smoothly to TD. Based upon the required mud weight and gas readings, the primary reservoir target appears to exhibit the expected over-pressure and is hydrocarbon bearing. We look forward to acquiring logs to facilitate the full interpretation of the reservoir properties and securing the reservoir section behind the 4 ½ inch production casing."

All looking good! imho

lots of good news to come

A bit of movement on here this last few days.

Drilling complete, drill clearing off the site. Next step the entrance of the frack team.

The political changes should be beneficial too, though admittedly things won't alter much overnight.

Stick with it folks!... and top up when you can! (imho & dyor)

Creeping upwards again, but beware market sizes do fluctuate. A useful indicator of imminent price movements.

Useful survey report published earlier this morning. Hasn't frightened the horses......

Closed around the day's best.

Next step is the establishment of the fracking kit and commencement of said fracking. Should generate some good news flow in the near future.

A most interesting week, maybe helped along by reflecting on the upside of the recent survey report.

All progressing to plan:-

Oilex Ltd said Schlumberger equipment for the fracture stimulation programme at the Cambay-77H Well has started to arrive at site, and that other preparatory activities for the well have also commenced to ensure readiness for the Stage 1 fracture stimulation next week.

"The fracture stimulation mobilisation is taking slightly longer than forecast due to the duration of Schlumberger�"s prior commitment, which was out of Oilex�"s control," the company said.

"The close working relationship between Schlumberger and Oilex has enabled activities to now progress as planned. This should culminate with the production testing of Cambay-77H commencing in August 2014, after a flowback and well clean up period," it said.

May well be an interesting week. An announcement about the start of the frack operation could come at any time soon.

Pushing up strongly this afternoon before an easing into the close. Sign of expectations of imminent good news?

Another RNS to the effect that Magna has increased its already substantial stake here. Question now is, how far do they intend to take it?

Another quite respectable RNS out mid-morning. Showing progress as planned and moving quickly towards a formal flow test.

It's all shaping up good. Topped up this morning...much more to come methinks!

StockMarketWire.com
Oilex confirms significant progress in achieving proof-of-concept objectives for Cambay-77H.

These objectives are critical to demonstrating the Cambay Field can be commercially developed using multi-stage fracture treatments (fracs) in horizontal wells.

Cambay-77H has a very short lateral section of 350m with 8 fracs that were successfully completed in 4 stages.

Managing Director of Oilex, Ron Miller, said;

"Oilex's first mover strategy compares favourably to other successful companies that have been early entrants into newly identified tight/unconventional gas and oil plays.

"Delivering Cambay-77H with its proof of concept objectives is now almost complete. Upon completion of these objectives, Oilex will continue to focus on commercialising the Cambay Field and generating sustainable cash flow and profits for shareholders."

Highlights:

· Efficient drilling operations demonstrating the repeatability of targeting the Y zone

· Y zone reservoir properties are laterally consistent, having variability within expectations

· Successful completion of 8 fracture treatments

· Successfully demonstrated "Plug and Perf" completion technique in India

· First horizontal well in the Cambay Basin with multiple fracture treatments to achieve flowback

· Flowback data used to calibrate horizontal well model for the first time

· Future well designs may have wider frac spacing, leading to significant cost savings.

StockMarketWire.com
Oilex Ltd advises that its Share Purchase Plan (SPP) closed on 16 December 2014. Applications have been received for a total of approximately A$1,671,000 under the SPP (using the exchange rate applicable to the SPP of A$1:GBP0.55).

Underwriters Patersons Securities Limited and DJ Carmichael Pty ("Underwriters") have been notified of the resulting shortfall of A$829,000 which will be taken up by the Underwriters and sub-underwriters to the SPP. This will result in a total fundraise of A$2.5 million before expenses.

19 January 2015

Cambay-77H - Gas Sales Agreement Endorsed, Move to Production

Oilex Ltd is pleased to announce it has received endorsement from the relevant authorities of the Government of India (GoI) for the sale of gas from Cambay Field, specifically from the Cambay-77H well. This latest endorsement by GoI follows the announcements made by the Company on 15 July 2014 and 5 December 2014, in which it was reported that Oilex was authorised to sell gas from Cambay-73 and Bhandut-3 respectively. Today's announcement represents another important milestone for increasing production from the field and supplying gas to the local market, where users are currently paying a premium to Brent and WTI on an energy equivalent basis.

The Cambay Joint Venture will now establish the appropriate production facilities for Cambay-77H and initially connect Cambay-77H to a low pressure pipeline grid to service the local area. An approval to sell gas from Cambay-77H and Cambay-73 removes part of the contingency in the assessment of recoverable quantities of gas as Reserves.

Netherland Sewell and Associates Inc. (NSAI) prepared the Independent Resource Assessment contained in the Oilex announcement dated 11 October 2011. NSAI confirmed Contingent Resources within the Cambay Contract Area of:see link at BOP

Oilex has now engaged NSAI to prepare an updated Independent Resource Assessment based on the additional production and other acquired data. This update may result in some Contingent Resources being classified as Reserves.

Cambay-77H is the first horizontal multistage frac'd well to be successfully production tested in India. The production test results were announced by the Company on 8 December 2014 and are interpreted to demonstrate that commercial development of the Cambay Field is feasible. The test results and data from Cambay-77H have been incorporated into a comprehensive model and the initial modelling results demonstrate strong well economics - as announced on 12 December 2014. These well economics continue to be encouraging despite the sharp drop in oil prices since that date.

Oilex is now working towards putting three wells in two separate fields into production, during H1 2015. Oilex will recommence gas production in the Cambay Field for the first time since the early 1990's. Production from these wells will be a substantial step towards cash positive operations in India for the Company as a result of the strong gas demand and associated robust gas price structure. The outlook for the Indian economy remains positive as the cost of imported energy reduces, stimulating further growth.



Managing Director of Oilex, Ron Miller, said;

"We are very pleased to receive this endorsement from the Government of India to sell gas from Cambay-77H. The contracted price remains commercial-in-confidence, and revenue from Cambay-77H will significantly move the India assets towards our 2015 goal of cash flow positive operations. Gas demand remains strong in India and prices firm which helps cushion the recent fall in oil prices. Oilex looks forward to the next drilling campaign and having sufficient gas deliverability to consider delivery of pipeline quality gas to the high pressure grid located approximately 7 km from the field."

For and on behalf of Oilex Ltd

Ron Miller
Managing Director

http://www.moneyam.com/action/news/showArticle?id=4960525

21January 2015

ASX: OEX

AIM: OEX

Interview with Oilex Vice Chairman

Oilex Ltd provides an opportunity to watch a video interview with Oilex Vice Chairman, Mr Sundeep Bhandari.

The video can be viewed on the Oilex website: www.oilex.com.au under "Latest News".

For and on behalf of Oilex Ltd

Ron Miller

Managing Director

https://www.oilex.com.au/investor-information/announcements/announcements-detail/2015/01/21/interview-with-oilex-vice-chairman---big-'opportunity'-for-oilex-in-india

28 January 2015

Appointment of UK Based Non-Executive Director



• Jeffrey D. Auld appointed as a UK based Independent non-executive director of Oilex Ltd

• Strong commercial and financial background in upstream oil and gas for 24 years




Oilex Ltd is pleased to announce the appointment of Mr. Jeffrey D. Auld (48) as a UK based independent non-executive director. Mr. Auld has over 24 years of experience in the oil and gas sector focused on financial and commercial management in upstream oil and gas development and production. His career spans working for a number of major financial institutions, including Macquarie Capital (Europe) Limited in London where he served as Managing Director - Head of EMEA Oil and Gas. Other financial institutions include Canaccord Adams Limited and Goldman, Sachs & Co.

In addition to tenure with financial institutions, Mr. Auld's experience includes corporate and commercial management in exploration and production companies such as LSE-listed Premier Oil Plc, PetroKazakhstan Inc. and Equator Exploration Limited. Mr. Auld currently holds directorships in AIM-listed Lansdowne Oil and Gas plc., Sabalo Energy Limited and Burnt Stick Advisors Limited.

Mr. Auld brings to the Oilex Board a wealth of experience and knowledge of capital markets and upstream development financing strategies. These skills are important for the next stage of growth for Oilex through increasing production at the Cambay Field in India after recently completing proof of concept activities on the Cambay-77H well.

Other than the information detailed in this announcement, there is no further information required to be disclosed under paragraph (g) of Schedule 2 of the AIM Rules.

Chairman of Oilex, Max Cozijn, said;

"The appointment of Jeffrey Auld as a director of Oilex Ltd is a key step towards further raising the Company's profile in London and the AIM market. Having a director, experienced in the London Capital Markets and upstream industry, resident in the market, where a majority of our shareholders are based and shares are traded, will enhance the understanding and profile of Oilex. On behalf of all the directors, I welcome Jeffrey to the Board and look forward to his positive contribution to the ongoing development of Oilex."

http://www.moneyam.com/action/news/showArticle?id=4966243

Jan 30, 2015

Quarterly Report 31 December 2014


Summary

CAMBAY PSC, ONSHORE GUJARAT, INDIA

•Successfully finished the Cambay-77H production test
•Delivered the Proof of Concept, demonstrating the Cambay Field can be commercially developed
•Initial production profiles indicate robust economics, despite the recent sharp drop in oil prices
•Government of India approve the grant of an extension of the Petroleum Mining Lease for the Cambay Field to 22 September 2019


BHANDUT FIELD, ONSHORE GUJARAT, INDIA

•Endorsement from the Government of India for the sale of gas from the Bhandut-3 well, located within the Bhandut Field
•Commenced establishing production facilities for Bhandut-3, including a compressed natural gas (CNG) loading facility that will enable CNG “bullet” trucks to be loaded at site for transportation of the gas to end users


STP-EPA-0131 (Formerly SPA 17 AO), ONSHORE CANNING BASIN, WESTERN AUSTRALIA

•WA Department of Mines and Petroleum (DMP) approval of Oilex’s application to convert the Special Prospecting Authority (SPA 17 AO) to Exploration Permit Application
•The newly acquired survey data with 2D seismic, regional gravity, magnetic, surface geological and well data, confirms Oilex’s structural model of the Wallal Graben and its extension into STP-EPA-0131


CORPORATE

•Completion of Share Purchase Plan raising a total of A$2.5 million before costs
•On 28 January 2015 Oilex announced the appointment of Mr Jeffrey D Auld as an independent Non-Executive Director. The appointment of a UK based independent non-executive director, with significant experience in the London capital markets and upstream oil and gas industry, is in line with the Company’s decision to appoint additional directors to achieve the right mix of skills, experience and diversity which reflects the Company’s strategy and increase the balance of independence on the Board.

To view the entire document, please click on the link below.

https://www.oilex.com.au/docs/default-source/announcements/150130-december-2014-quarterly-report.pdf?sfvrsn=0

Oilex - Cambay economics underpinned by significant excess demand for gas
By Jamie Ashcroft
January 30 2015, 8:36am


“The Cambay field is expected to have robust economics, despite the recent sharp drop in oil prices,” Oilex said.


The economics of production from Oilex’s (LON:OEX) Cambay field are underpinned by significant excess demand for gas within India’s domestic market, the company says.

In a quarterly update Oilex told investors that due to demand for gas from nearby industrial users a strong pricing has been secured for Cambay’s production, and this is above the floor price recently established by the Indian government.

It adds that due to the proximity of existing industry (15kms away) there is also “very low” capital cost associated with gas sales to the local market, and the tie-in to existing gas transmission pipeline network.

“The Cambay field is expected to have robust economics, despite the recent sharp drop in oil prices,” Oilex said.

Financial modelling of the next three Cambay wells indicate, subject to the well’s configuration, recoveries between 531,000 to over 1mln oil equivalent barrels over a 10 year period. This would yield between US$1 (for the smaller configuration) and more than US$20 per oil equivalent barrel, and indicates well payback of 48 to 12 months respectively.

A well with a 700 metre lateral and 9 fracks compares favourably with the prior commercial assessment of the project, Oilex said, and in that scenario the total recover is assumed to be 680,000 boe with an NPV of US$15 per boe and a payback period of 22 months.

These financial models are based upon a price of US$8 per thousand cubic feet of gas, and a US$70 per barrel price of oil.

Oilex said the full field economics will be assessed after the completion of engineering studies for the project.

In the period under review, the three months to December 31, Oilex achieved its proof of concept work with the completion of the Cambay 77H well.

Oilex Production Temporarily Falls After Well Shut In At Cambay Field
Alliance News 30 January, 2015 | 9:26AM

LONDON (Alliance News) - Oilex Ltd Friday said production from the company's flagship Cambay field in India fell in the last quarter, but it said production should increase after the company brings a new production well online in the near future.

The company produced 849 barrels of oil during the three months ended December 31, which all came from the Cambay field in India. This represents a 43% decrease quarter on quarter, which was due to the shut in of the Cambay 77-H well after Oilex finished production testing.

Oilex said it is focusing on bringing the Cambay 77-H well into production "as soon as possible".

The company said the Cambay field is expected to have "robust economics" despite the low oil price, and Oilex said the government of India has granted an extension to the Petroleum Mining Lease for the Cambay field recently and endorsed the sale of gas as well.

At the Sabarmati field, the company is expecting to plug and abandon the Sabarmati-1 well in the first quarter after the government approved Oilex's request to relinquish the field, it said. Oilex plans to transfer equipment from Sabarmati for possible future use at the Cambay field.

Farm-out talks are ongoing for the Canning basin in western Australia. Oilex said it has supplied prospective partners with new data from the field and a commitment programme to which it would expect them to adhere.

ASX Announcement
5 February 2015

INVESTOR PRESENTATION - FEBRUARY 2015


Oilex Ltd advises that a copy of an Oilex Investor Presentation dated February 2015 can be viewed by clicking on the below link.

http://www.rns-pdf.londonstockexchange.com/rns/0990E_-2015-2-4.pdf


http://www.moneyam.com/action/news/showArticle?id=4971970

OILEX LTD


CONDENSED CONSOLIDATED INTERIM FINANCIAL REPORT

For the half-year ended 31 December 2014


Review of Operations

Oilex is continuing its transition to an early mover unconventional energy producer, focusing on assets around the Indian Ocean Rim. The Company is evaluating and commercialising the extensive Eocene low permeability ("tight") reservoirs in its onshore Cambay Field project located in the state of Gujarat, India, where energy market fundamentals are attractive. Oilex is applying tight reservoir evaluation, drilling and production techniques which have been developed in recent years in the rapidly expanding shale gas and tight oil ("SGTO") industry in North America. Oilex also has a large acreage position in the onshore Canning Basin, Western Australia, which is anticipated to be prospective for conventional and SGTO resources. The interest in the exploration asset offshore Timor Sea is currently under temporary suspension of the PSC for a further 3 month period to April 2015 to enable the completion of the ANP legal assessment and continued discussion between the parties to address the way forward. Oilex is pursuing enforcement of the Arbitration Award with respect to its interest in the West Kampar PSC, onshore Sumatra, Indonesia.

Cambay Field

Significant progress was achieved during the period on the Cambay Field development. The Company successfully completed the Cambay-77H production test. The test was focused on acquiring long term performance data which is essential for assessment of reservoir properties and will supplement surface data collected during flowback. A 5 day shut-in period preceded the test to allow the well to stabilise after ~ 85 days of flowback production. Cambay-77H produced 3,372 bbls (net to Oilex 1,517 bbls) of light oil which was sold to a local refinery and 43 MMscf of gas which was flared for the safety of personnel and equipment at site.

Delivering the Proof of Concept

Proof of Concept objectives are critical to demonstrating that the Cambay Field can be commercially developed using multi-stage fracture treatments (fracs) in horizontal wells. Key objectives achieved include:

· Efficient drilling operations demonstrating the repeatability of targeting the Y zone

· Y zone reservoir properties are laterally consistent, having variability within expectations

· Successful completion of 8 fracture treatments

· Successfully demonstrated "Plug and Perf" completion technique in India

· First horizontal well in the Cambay Basin with multiple fracture treatments to achieve flowback

· Flowback data used to calibrate horizontal well model for the first time

· Future well designs may have wider frac spacing, leading to significant cost savings



Gas sales agreements

Oilex has concluded two gas sale agreements ("GSA") to date. GSAs are conducted via a bid system, with buyers submitting offers to purchase via a tender process. Given the demand for gas by nearby industrial users, strong pricing is secured, above the floor price recently established by the Indian Government.

During the period Oilex received the endorsement from the relevant Government of India authorities for the Gas Sales Agreement for the sale of Cambay-73 gas, a critical milestone for increasing production from the field and supplying gas to the local market. With Cambay-73, gas production from the Cambay Field will recommence for the first time since the early 1990's.

Bhandut Field

During the period Oilex received endorsement from the Government of India for the sale of gas from the Bhandut-3 well, located within the Bhandut Field. This is a critical milestone for returning the field to production, supplying gas to the local market and generating positive cash flow for the Company from a previously idle asset.

Now that endorsement of the gas sales agreement has been received, the Bhandut Joint Venture will proceed to establish the appropriate production facilities for Bhandut-3. This will include a compressed natural gas ("CNG") loading facility that will enable CNG "bullet" trucks to be loaded at site for transportation of the gas to end users. Bhandut-3 gas is "lean" and therefore no material condensate production is expected.

Sabarmati Field

During the period the Joint Venture finalised cost estimates for the plug and abandonment of the Sabarmati-1 well and commenced the process to obtain Government of India approval to relinquish the Sabarmati Field. Plug and abandonment activities are expected to be completed during the remainder of Q1 2015. As part of the relinquishment of the Sabarmati Field, Oilex plans to transfer equipment from Sabarmati EPS facility for possible future use at Cambay Field.

Canning Basin

During the period the WA Department of Mines and Petroleum (DMP) approved Oilex's application to convert the Special Prospecting Authority (SPA) (SPA 17 AO) to Exploration Permit Application (STP-EPA-0131).

The committed work program for SPA 17 AO was fulfilled by the acquisition, processing and interpretation of a 4,060 line km gravity gradiometry/magnetic survey ("Survey"). Under the terms of the SPA, Oilex had exclusive rights to negotiate a formal exploration permit with the Government of Western Australia. The terms of the SPA state that the area retained as an exploration permit from within the SPA is limited to 30-50% of the total area.

The final report for SPA 17 AO incorporating the newly acquired Survey data with 2D seismic, regional gravity, magnetic, surface geological and well data, confirmed Oilex's structural model of the Wallal Graben and its extension into SPA 17 AO.

The graben is present in Oilex's three, 100%-owned, exploration areas encompassing approximately 11,900 km2 (~3 million acres). The acreage is in a unique position in the Canning Basin as it is adjacent to many world class mining projects in the Pilbara region. This activity has led to the development of a significant amount of infrastructure in the area with the Great Northern Highway, numerous sealed roads, good quality graded roads and multiple airstrips being present within the Oilex acreage.

Oilex continues to negotiate Native Title agreements with Traditional Owners. Upon finalisation of the agreements the regulatory process of conversion of STP-EPA-0106 and STP-EPA-0107 to formal exploration permits will commence.

Financial

The Group incurred a consolidated loss after income tax of $3,118,088 for the half-year (31 December 2013: loss of $2,776,134). Revenue for the period has increased due to increased production from the Cambay Field. The loss includes $1,040,131 (31 December 2013: $1,058,838) incurred on exploration expenditure and $1,718,780 (31 December 2013: $1,637,860) incurred on employee and administrative expenditure. The Company's focus on reducing costs, which do not impact its technical and commercial capabilities, is continuing. Cash and cash equivalents held by the Group as at 31 December 2014 totalled $5,426,328 (30 June 2014: cash and cash equivalents $7,455,572).

Significant Events After Balance Date

Oilex received approval from the Government of India for the grant of an extension of the Petroleum Mining Lease for the Cambay Field to 22 September 2019.

The receipt of endorsement from the relevant authorities of the Government of India for the sale of gas from Cambay Field, specifically from the Cambay-77H well.

The Autoridade Nacional do Petroleo ("ANP") with prior consent of the Joint Commission for the Joint Petroleum Development Area under the Timor Sea Treaty, advised on 16 January 2015 that it had further extended the expiry date of the PSC from 15 January 2015 to 15 April 2015 for the purpose of completing an assessment and to continue discussions with the Joint Venture partners.

Significant Events After Balance Date (Continued)

On 28 January 2015 Oilex announced the appointment of Mr Jeffrey D Auld as a Non-Executive Director. The appointment of a UK based independent non-executive director, with significant experience in the London Capital markets and upstream oil and gas industry is in line with the Company's decision to appoint additional directors to achieve the right mix of skills, experience and diversity which reflects the Company's strategy and increase the balance of independence on the Board.

There are no other significant subsequent events occurring after balance date.

Link below for full announcement:

http://www.moneyam.com/action/news/showArticle?id=4975251

12 February 2015

Interview with Oilex Managing Director

Oilex Ltd provides an opportunity to watch a video interview with Oilex Managing Director, Mr Ron Miller.

The video can be viewed on the Oilex website: www.oilex.com.au under "Latest News".

http://www.moneyam.com/action/news/showArticle?id=4976388


https://www.oilex.com.au/investor-information/announcements/announcements-detail/2015/02/12/interview-with-oilex-managing-director---oilex-on-target-to-go-cash-flow-positive-

19 February 2015
ASX: OEX
AIM: OEX

Appendix 3B - Issue of Employee Options

Dear Sirs

We enclose an Appendix 3B advising of the following issue of employee options:

· 500,000 Unlisted Options exercisable at $0.25 vesting 16 February 2015, expiring 16 February 2018;

· 500,000 Unlisted Options exercisable at $0.35 vesting 16 February 2016, expiring 16 February 2019.

http://www.moneyam.com/action/news/showArticle?id=4980072

9 March 2015



India Operations Update



· Cambay 2015-2016 work program and budget approved

o 2 firm wells + 2 contingent wells and 5 firm workovers to enhance production

· Tendering process for long lead equipment has commenced

· Updated independent Reserves and Resource statement anticipated to be complete during April 2015

· Progressing facilities construction, with increased production expected in H2 2015

· Engineering studies for permanent gas processing facilities have commenced

· Head of India Assets appointed to lead operational activities




Oilex Ltd is pleased to provide the following update of activities at the Company's Indian Assets.

Cambay Field

Work program and budget 2015/16

Subsequent to the successful flowback and production testing of the proof of concept well, Cambay-77H, Oilex commenced planning for the 2015/16 work program year. The work program has been approved by both the Joint Venture and the Government of India. Oilex has commenced work on schedule critical tendering activities and expects to take advantage of the recent decrease in global oil & gas activity to achieve a reduction in drilling and other costs.

The work program consists of a firm 2 well drilling campaign and 2 contingent wells for which all long lead items will be procured concurrently such that a timely decision can be made to commit to the contingent wells. Additional detail regarding the wells and their locations are included in an addendum to this announcement. The first well is expected to spud late in H2 2015, subject to the finalisation of funding. Full diameter core across the Y zone will be collected in each firm well. Special analyses will be conducted on each core and the data obtained from the analyses will be used to finalise the frac design for each well. Core analysis is widely undertaken in North America and it is anticipated that core data will enable a better frac efficiency to be achieved compared to Cambay-77H.

Update of independent Reserves and Resource Statements

The Company has compiled production data for the past 3 years, as well as data for Cambay-77H and Cambay-73 into a comprehensive package to enable an update of the October 2011 Resource Statement. The updated Independent Reserves and Resource statement is scheduled for completion during April 2015.

Production and facilities

Construction of production facilities at Cambay-73 is on track and approximately 50% complete.

Prior to the commencement of the horizontal well drilling campaign, the JV plans to commence a 5 well work-over campaign to boost oil and possibly gas production. This work-over campaign is integral to achieving the Company's target of cash flow positive operations in India during 2015, excluding CAPEX. By finishing the work-over program before the drilling campaign, deployment of manpower and equipment can be optimised.

Engineering studies for permanent production and gas treatment facilities has commenced. These studies will examine the cost and schedule parameters of a range of throughput sizes as part of the development planning for the field. The work includes conceptual design of a small throughput plant that would enable pipeline quality gas to be sold into the gas grid relatively quickly and thus tapping into a larger market. Other engineering studies have commenced to determine the temporary production facilities for Cambay-77H.



Bhandut Field

Design engineering work has commenced for the gas production facilities required for Bhandut-3 and discussions are in progress regarding the gas transportation arrangements provided by the buyer. The design work is ~ 40% complete. Procurement of equipment will commence after the design has been finalised and delivery of critical equipment will govern the start of Bhandut-3 gas production.



People

Jayant R. Sethi has assumed the role of Head of India Assets and is now in charge of daily operations in India. A trained geologist with strong contracts and project management experience in Cairn India's organisation, Jayant brings technical and operational leadership experience to the organisation and will be responsible for delivery of the next drilling campaign.



Managing Director of Oilex, Ron Miller, said;

"Oilex is very pleased with the strong support of the Government of India and rapid approval of the 2015/16 work program for the Cambay Field after the successful proof of concept activities at Cambay-77H. We are moving forward with the planning and preparation for the work-over and drilling campaigns both of which target increasing production, cashflow and reserves from our India assets. The strong growth outlook for the Indian economy together with a significant shortage of gas and substantial gas demand provides a robust environment for future gas prices which helps to shield Oilex from the full impact of low oil prices."

For and on behalf of Oilex Ltd


Ron Miller

Managing Director

http://www.moneyam.com/action/news/showArticle?id=4991179

Oilex updates Indian assets
Written by Audrey Raj Tuesday, 10 March 2015

Oilex Ltd plans to drill four new wells in the Cambay Field, located in the State of Gujarat, India.

Approved by the Cambay Field Joint Venture (JV) and the Government of India, the work program includes two firm wells and two contingent wells.

Scheduled to run in the course of two years commencing 2015, the first well is expected to spud late this year, subject to the finalisation of funding.

Tendering activities are currently underway and the company expects to take advantage of the recent decrease in global oil and gas activity to achieve a reduction in drilling and other costs.

Image: Cambay Field

“Oilex is very pleased with the strong support of the Government of India and rapid approval of the 2015/16 work program for the Cambay Field after the successful proof of concept activities at Cambay-77H,” said Ron Miller, managing director, Oilex.

“We are moving forward with the planning and preparation for the work-over and drilling campaigns both of which target increasing production, cashflow and reserves from our India assets.”

Construction of production facilities at Cambay-73 is 50% complete and the JV plans to commence a five well work-over campaign to boost oil and gas production in 2015.

The updated Independent Reserves and Resource statement comprising of production data for the past 3 years, as well as data for Cambay-77H and Cambay-73 is scheduled for completion April 2015.

Engineering studies to examine the cost and schedule parameters of a range of throughput sizes as part of the development planning for the field and to determine temporary production facilities for Cambay-77H are currently underway.

The JV also welcomed Jayant R. Sethi who assumed the role of head of India assets in charge of daily operations. A trained geologist, Sethi brings technical and operational leadership experience to the position.

“The strong growth outlook for the Indian economy together with a significant shortage of gas and substantial gas demand provides a robust environment for future gas prices which helps to shield Oilex from the full impact of low oil prices,” commented Miller.

Design engineering work for gas production facilities required for the group’s Bhandut-3 field is now at 40% completion.

ASX Announcement
16 March 2015
ASX: OEX

AIM: OEX

INVESTOR PRESENTATION - MARCH 2015

Oilex Ltd advises that a copy of an Oilex Investor Presentation dated March 2015 can be viewed by clicking on the below link.

http://www.rns-pdf.londonstockexchange.com/rns/5402H_1-2015-3-16.pdf


For and on behalf of Oilex Ltd

Chris Bath

Chief Financial Officer and Company Secretary

http://www.investegate.co.uk/article.aspx?id=201503161231275402H

19 March 2015
ASX: OEX
AIM: OEX

Appointment of UK Broker

Oilex Ltd is pleased to announce the appointment of Westhouse Securities Limited as its UK Broker with immediate effect.

Westhouse is a corporate and institutional stockbroking group with a strong track record across a number of market sectors.

Managing Director of Oilex, Ron Miller, said;

"Oilex is very pleased with the appointment of Westhouse Securities as the Company's UK Broker at an important stage in the Company's development, with a focus on near term production and cash flow from the Cambay Field in India, a quality Indian asset in a premium market."

For and on behalf of Oilex Ltd

Ron Miller
Managing Director

http://www.moneyam.com/action/news/showArticle?id=4998392

ASX Announcement
20 March 2015
ASX: OEX

AIM: OEX

Interview with Oilex Managing Director

Oilex Ltd provides an opportunity to watch a video interview with Oilex Managing Director, Mr Ron Miller.

The video can be viewed on the Oilex website:

https://www.oilex.com.au/investor-information/announcements/announcements-detail/2015/03/20/interview-with-oilex-managing-director---march-2015-update

For and on behalf of Oilex Ltd



Chris Bath

Chief Financial Officer and Company Secretary

26 March 2015
ASX: OEX
AIM: OEX


Cambay-73 - construction of oil and gas production facilities



Oilex Ltd is pleased to provide an update on construction of the oil and gas production facilities at Cambay-73.

Overall progress of the project is 77% complete. The electrical system installation is almost complete while mechanical fabrication is 82% complete. Various pre-commissioning activities should commence next week and costs are forecast to be within budget despite some delays in equipment delivery. Connection of the low pressure gas pipeline system to the plant is the responsibility of the gas buyer and is expected to be completed during April 2015.

Cambay-73 is a frac'd vertical well located 1.2km SSE of Cambay-77H, the first multistage frac'd horizontal well to be successfully production tested in the Cambay Basin. Cambay-73 and Cambay-77H have intersected the same Y zone reservoir and both have produced gas and light oil/condensate. Gas composition analyses conclude that gas from Cambay-77H and Cambay-73 is almost identical with minimal processing required to reach pipeline specification. Cambay-73 will supply gas to a low pressure gas market in the vicinity of the Cambay Field and is expected to produce approximately 50-60boepd of gas and condensate. The condensate will be separated at the field and trucked to a nearby refinery together with other Cambay crude oil.

Managing Director of Oilex, Ron Miller, said;

"Oilex is very pleased with construction progress at Cambay-73 which should enable the Joint Venture to commence production during May 2015. This will be the first gas produced and sold from the Y zone formation within the Cambay Contract Area and it will be the first gas sold from the Cambay Field in over 23 years. Commercial production from Cambay-73 is a key initial step to achieving the Company's objective of becoming cash flow positive from operations in India in H2 2015."

http://www.rns-pdf.londonstockexchange.com/rns/5011I_-2015-3-26.pdf

http://www.moneyam.com/action/news/showArticle?id=5003049

UPDATE - Oilex looks ahead to first gas production in May
By Jamie Ashcroft
March 26 2015, 12:01pm



--adds broker comment, updates share price--

Oilex (LON:OEX) expects to begin production from the Cambay-73 well in May.

The company told investors that the construction of the production facilities is now about 77% complete.

It expects pre-commissioning activities to begin next week, and connection of a gas pipeline system to the plant – which is the responsibility of the gas buyer – is anticipated during April.

Ron Millar, Oilex managing director, highlights that this will be the first gas sold from the Cambay field in over 23 years.

"Oilex is very pleased with construction progress at Cambay-73 which should enable the joint venture to commence production during May 2015,” Millar said.

“Commercial production from Cambay-73 is a key initial step to achieving the company's objective of becoming cash flow positive from operations in India in H2 2015."

Broker SP Angel said today's update is a timely reminder of how far the company has come and the issues that it has faced getting here.

Cambay-73 will supply gas to a local gas market, under low pressure, and it is expected to produce at a rate of 50 to 60 barrels oil equivalent per day (including condensate, which will be separated and trucked to a nearby refinery).

The company is also working towards production from the recently drilled Cambay-77H well.

Shares in Oilex were up 15% halfway through Thursday's trading session, priced at 2.7p.

One Year Chart

Three Month Chart

Oilex Reveals Interest in Canning Basin Acreage
Lauren Barrett
Wednesday, 1 April 2015 - 07:28pm

While Perth-based Oilex is charging ahead with its unconventional gas project in India, the company says the farm-out process for its acreage in the Canning Basin has been well received.

The company, which is listed on the ASX and London’s AIM, pleased Australian investors last week when it announced it expected production at its Indian Cambay-73 joint venture project to begin in May.

The junior’s shares gained more than 10 per cent to 5 cents on the back of the news which highlighted commercial production from Cambay-73 was a key initial step to achieving its objective of becoming cash flow positive from the operations in the second half of 2015.

While the company remains focused on growing its production and reserves from its Indian operations, Oilex managing director Ron Miller told Oil and Gas Investor Australia that a farm-out process for its three south-west Canning Basin permits was gaining significant traction.

“We have organisations from the US and elsewhere that have been through the data room and are currently in the data room,” he said.

“We think the permits are well positioned because the only existing gas infrastructure the Canning Basin has runs across our permits.

“It is close to the Pilbara iron ore province and as you’ve seen with Fortescue Metals Group and others they are looking to lower their costs of production by changing their energy mix from diesel exclusively to diesel plus gas so we see gas as an opportunity if we happen to make a discovery there.”

The company picked up the three Canning Basin permits in 2013 after management recognised the similarities with its Cambay Basin acreage and noted the south west area had high quality infrastructure.

An extensive review on the permits also identified the Wallal Graben, a potentially overlooked, deep, undrilled half graben in the south-west Canning Basin.

It’s still early days for the permits with native title negotiations continuing. However Miller is hopeful of finalising those in the near-term. While he couldn’t put a timeframe on how long the farm-out process would take, Miller expects drilling on the permits to take place sometime in 2017.

The excitement surrounding the Canning Basin’s shale gas appeal took a hit last year when U.S. major ConocoPhillips and Chinese oil giant PetroChina pulled out of their shale-play joint venture with New Standard Energy, citing disappointing results.

Meanwhile, one time market darling Buru Energy which is the largest shareholder in the Basin has struggled to retain shareholder confidence in its Canning Basin story, with shares falling from highs of above $3 in 2012 to today’s price of 30.5 cents.

While the company confirmed the potential of the Ungani oil field back in 2011 when it announced the first significant oil discovery in the basin since the 1980s, the company continues to grapple with technical hurdles in the Basin while opposition from activists opposed to fracking persists.

Miller said Oilex was closely monitoring general activities in the Canning Basin but was confident it wouldn’t experience the same issues.

“We monitor all activities that are going on in areas of interest that we have and certainly we think we can manage our operations in a safe and sustainable manner,” he said.

General interest in that Sundeep Bhandari, Vice Chairman & Director, Oilex Ltd is part of the speaker panel at Arabian Sea Region Oil & Gas 2015 Summit 26th-27th May in Muscat, Oman.

http://www.prweb.com/releases/2015/04/prweb12639292.htm

http://www.arabianseasummit.com/

Recap-Should be getting some updates over the next few weeks:

Oilex expects Cambay-73 production in May
26 March 2015 | 09:29am

StockMarketWire.com - Oilex Ltd said overall progress of the Cambay-73 project is 77% complete. It anticipated production during May 2015.

The electrical system installation is almost complete while mechanical fabrication is 82% complete. Various pre-commissioning activities should commence next week and costs are forecast to be within budget despite some delays in equipment delivery.

Connection of the low pressure gas pipeline system to the plant is the responsibility of the gas buyer and is expected to be completed during April 2015.

Cambay-73 is a frac'd vertical well located 1.2km SSE of Cambay-77H, the first multistage frac'd horizontal well to be successfully production tested in the Cambay Basin.

Cambay-73 and Cambay-77H have intersected the same Y zone reservoir and both have produced gas and light oil/condensate. Gas composition analyses conclude that gas from Cambay-77H and Cambay-73 is almost identical with minimal processing required to reach pipeline specification.

Cambay-73 will supply gas to a low pressure gas market in the vicinity of the Cambay Field and is expected to produce approximately 50-60boepd of gas and condensate. The condensate will be separated at the field and trucked to a nearby refinery together with other Cambay crude oil.

http://www.stockmarketwire.com/article/5003310/Oilex-expects-Cambay-73-production-in-May.html

14 April 2015
ASX: OEX
AIM: OEX

Appointment of Australian Broker

Oilex Ltd is pleased to announce the appointment of PAC Partners Pty Limited as its Australian Broker with immediate effect.

PAC Partners is a leading independent equities provider with a focus on leading emerging and mid cap companies and also the wholesale business partner of PhillipCapital in Australia.

Managing Director of Oilex, Ron Miller, said;

"Oilex is very pleased with the appointment of PAC Partners as the Company's Australian Broker. PAC Partners have a proven capital markets capability and a focus on leading emerging and mid cap companies."

For and on behalf of Oilex Ltd

Ron Miller

Managing Director

http://www.moneyam.com/action/news/showArticle?id=5015301

Link at BOP for full RNS including tables:

16 April 2015
ASX: OEX
AIM: OEX


Cambay Field - Reserves and Contingent Resources



X and Y Zones - Summary

· Gross Proved + Probable (2P) Reserves of 206 Bcf gas and 8.0 MMbbls of condensate (C5+) in the Y zone (Oilex net working interest 93 Bcf gas and 3.6 MMbbls of C5+)

· Gross 2C Unrisked Contingent Resources of 720 Bcf gas and 52.8 MMbbls of C5+ in the X and Y zones
(Oilex net working interest 324 Bcf gas and 23.8 MMbbls of C5+)

· 2P Reserves validate Oilex's forward program for commercial development of the Cambay Field

Oilex is pleased to announce that RISC Operations Pty Ltd (RISC), an Australian based, internationally recognised independent petroleum advisory group, has completed an independent Resource Report of the Eocene Formation of the Cambay Field. This work follows on from its evaluation of Cambay-77H flowback and test data in December 2014. RISC has evaluated 2 of 6 potential Eocene reservoirs, the X and Y Zones, and the results for Reserves and Contingent Resources are summarised below.

see link at BOP

The Reserves are attributed to an area of the Cambay Field having multiple vintage and modern well intersections of the X and Y Zones with hydrocarbon flows. The area encompasses recent Oilex operated drilling and production testing activity including the successful Cambay-77H well, the first successfully production tested multi-stage frac'd horizontal well in India. Gas is currently marketed on a competitive tender basis to buyers and will be sold into a low pressure local market, commencing with Cambay-73. Contractual commitments are in place from previous tendering activities and cover gas sales for up to 2 years.

As announced on 9 March 2015, the approved budget for 2015/16 incorporates 2 firm wells, 2 contingent wells and up to 5 firm workovers. The firm wells target increasing production to a level that justifies selling gas into the high pressure market through a nearby gas pipeline network. One of the contingent wells in the 2015/16 budget targets upgrading X and Y Zone Contingent Resources. Additional drilling and facilities expansion will be planned for delivery in subsequent budget years subject to Joint Venture and Government of India approvals.

The Cambay Field is located approximately 10km from the gas pipeline network with spare capacity. The pipeline connection to the high pressure grid will be constructed and owned by a third party, which may be an affiliate of Oilex's joint venture partner, Gujarat State Petroleum Corporation (GSPC). Timing of construction has yet to be determined.

The 2P Reserves are anticipated to support a plateau gas production rate of ~50MMscfd, whilst the 2P + 2C combined volumes may support a plateau gas production rate of 125 - 250MMscfd. Studies, yet to be completed, will determine an optimum field gas production profile and incorporate data from wells drilled as part of the 2015/16 budget. Further explanatory information pertaining to the RISC Reserves and Resource Report is contained in Appendix A.

Managing Director of Oilex, Ron Miller, said;

"The work by RISC has resulted in first Eocene formation Reserves for Oilex in India and recognises the success of our 2014 work program. These Reserves provide a strong foundation for the immediate development of the Cambay Field and achievement of our key corporate goals of increasing production, cash flow and reserves. Oilex's first-mover advantage in opening Cambay Basin (and India) to development of its significant tight oil and gas resources, places the Company on a strong growth trajectory in a robust energy market."

For and on behalf of Oilex Ltd

Ron Miller

Managing Director

http://www.moneyam.com/action/news/showArticle?id=5017018

Oilex updates resources at Cambay after new evaluation
By Philip Whiterow
April 16 2015, 9:18am


The 2P Reserves validate the forward program for commercial development of the Cambay Field, it said.


Aussie oil and gas explorer Oilex (LON:OEX) has updated its reserves at Cambay in India with the inclusion of the Eocene layer for the first time.

Ron Miller, Oilex’s managing director, said the new estimate on the X and Y zones reflected work carried out by RISC and would provide a strong foundation for the immediate development of the Cambay field.

The new estimates are for 2P reserves (proved and probable) of 206 Bcf gas and 8 MMbbls of condensate (C5+) in the Y zone.

Of this, Oilex has a net working interest of 93 Bcf gas and 3.6 MMbbls of condesate.

Across both zones, 2C contingent resources werer 720 Bcf gas and 52.8 MMbbls of condensate, of which Oilex’s net working interest is 324 Bcf gas and 23.8 MMbbls.

The 2P Reserves validate the forward program for commercial development of the Cambay Field, it said.

Australian consultant RISC evaluated 2 of 6 potential Eocene reservoirs, the X and Y Zones, which followed on from the evaluation of Cambay-77H flowback and test data in December.

Oilex expects to begin production from the Cambay-73 well in May and is also working towards production from the recently drilled Cambay-77H well.

This mornings news reported in India:

Cambay basin in Gujarat holds 206 Bcf gas in one zone: Oilex
By PTI | 16 Apr, 2015, 05.07PM IST

NEW DELHI: Aussie oil and gas explorer Oilex today said its Cambay basin discoveries in Gujarat hold 206 billion cubic feet (Bcf) of gas and 8 million barrels of condensate reserves in just one zone.

"RISC Operations, an Australia-based, internationally recognised independent petroleum advisory group, has completed an resource report of the Eocene Formation of the Cambay Field," Oilex said in a statement.

20 April 2015
ASX: OEX
AIM: OEX


INVESTOR PRESENTATION - APRIL 2015



Oilex Ltd advises that a copy of an Oilex Investor Presentation dated April 2015 can be viewed by clicking on the below link.

http://www.rns-pdf.londonstockexchange.com/rns/6682K_-2015-4-20.pdf

Westhouse Securities Initiates Coverage on Oilex Ltd. (OEX)
Posted by Stephan Byrd on Apr 21st, 2015

Analysts at Westhouse Securities assumed coverage on shares of Oilex Ltd. (LON:OEX) in a research report issued to clients and investors on Tuesday. The firm set a “buy” rating and a GBX 7.40 ($0.11) price target on the stock. Westhouse Securities’ target price points to a potential upside of 97.33% from the stock’s previous close.

Shares of Oilex Ltd. (LON:OEX) opened at 3.75 on Tuesday. Oilex Ltd. has a one year low of GBX 1.59 and a one year high of GBX 12.62. The stock has a 50-day moving average of GBX 3. and a 200-day moving average of GBX 3.. The company’s market cap is £25.42 million.

Oilex Ltd is an Australia-based company engaged in exploration, development and production of hydrocarbons. During the fiscal year ended June 30, 2012, the Company was primarily engaged in the exploration of oil and gas, appraisal and development of oil and gas properties, and production and sale of oil.

http://tickerreport.com/banking-finance/462221/westhouse-securities-initiates-coverage-on-oilex-ltd-oex/

Oilex on the cusp of exceptional production growth phase, broker says
By Jamie Ashcroft
April 21 2015, 3:06pm

At current prices Oilex (LON:OEX) presents more than 100% upside for investors, according to City broker Westhouse Securities.

Henderson predicts Oilex can grow gross production from a standing start to nearly 60,000 barrels oil equivalent in the next 5 to 6 years


Westhouse analyst Mark Henderson has today begun covering the India focussed gas play with a ‘buy’ recommendation and a 7.4p price target (current price 3.5p).

The analyst says that following the ‘proof of concept’ success at the Cambay field he now expects Oilex will soon start to deliver substantial volume and cashflow growth over the next five to six years.

Henderson predicts Oilex can grow gross production from a standing start to nearly 60,000 barrels oil equivalent during that timeframe.

“Oilex is on the cusp of delivering exceptional production growth from its Cambay basin assets in Gujarat State, as it applies the learnings gained in the development of tight gas formations in North America to its assets in India,” he said in a note.

The analyst also highlights the favourable economics within India’s under-supplied and heavily industrial Gujarat state.

He describes Gujarat as “one of the most industrialised regions in India” and as such he points out that there are many gas-hungry power generation companies and industrial customers nearby.

A recent reserves report revealed the Cambay project had some 43.5mln barrels of oil equivalent reserves, as well as about 177mln barrels of oil equivalent contingent resources.

Henderson says Oilex can progressively deliver value to investors by de-risking and commercialising these resources.

“In order to deliver the significant potential upside in shareholder value, Oilex management must repeat the success of the Cambay-77H well across the Cambay field,” he added.

28 April 2015
ASX: OEX
AIM: OEX


Cambay-73: Production Facilities Completed


· Oil and Gas Production facilities ready to operate

· Initial production of ~50-60boepd of gas and condensate

· Development of larger Cambay Project continuing

Oilex is pleased to announce the completion of the Cambay-73 oil and gas production facilities on budget and ahead of schedule. The facilities are now ready for start-up and awaiting arrival of the low pressure gas pipeline to site. Construction of the pipeline has commenced and it is expected to be at site ready for connection to the production facilities during May 2015. This will enable final commissioning to be completed.

Cambay-73 will supply gas to a low pressure gas market in the vicinity of the Cambay Field and is expected to produce approximately 50-60boepd of gas and condensate. The condensate will be separated at the field and trucked to a nearby refinery together with other Cambay crude oil produced.

Oilex has also started an assessment of nearby legacy wells which may be capable of being tied into the Cambay-73 facilities should they have surplus capacity. In conjunction with this, the Cambay Joint Venture will evaluate expanding supply to the local low pressure gas market as a method to increase production and cash flow with minimal investment.

The scheduled commencement of gas sales into the Indian domestic market reinforces Oilex's strategic advantage gained from nearly a decade of experience in India and highlights the Company's ability to access infrastructure and successfully execute transactions.

Managing Director of Oilex, Ron Miller, said;

"The work by Oilex to complete the production facilities on budget and ahead of schedule is a significant achievement by our India Project Team. Gas production will lead to increased cashflow from the Cambay Field and is significant step in our 2015 programme. Oilex continues to deliver on its plan of production, cashflow and reserves to create a sustainable business in the midst of a robust market for petroleum energy."

For and on behalf of Oilex Ltd

Ron Miller

Managing Director

http://www.moneyam.com/action/news/showArticle?id=5024643

EDIT-Before and after pictures on page 2:

http://www.rns-pdf.londonstockexchange.com/rns/4724L_-2015-4-28.pdf

Oilex confident in ‘repeating the success so far’ at Cambay (Video)

28/04/2015

http://www.ig.com/uk/live-video?bctid=4201051360001&bclid=3728437912001

RNS for the interview posted yesterday:

29 April 2015
ASX: OEX
AIM: OEX

Interview with Oilex Managing Director

Oilex Ltd provides an opportunity to watch a video interview with Oilex Managing Director, Mr Ron Miller.

The video can be viewed on the Oilex website: http://www.oilex.com.au/ under "Latest News".

http://www.moneyam.com/InvestorsRoom/postaction.php

Quarterly Report 31 March 2015

Summary

CAMBAY PSC, ONSHORE GUJARAT, INDIA

Subsequent to the end of the quarter Oilex announced:

· Gross 2P Reserves of 206 Bcf gas and 8.0 MMbbls of condensate (C5+) in the Y zone

(Oilex net working interest 93 Bcf gas and 3.6 MMbbls of C5+)

· Gross 3P Reserves of 377 Bcf gas and 17.3 MMbbls of condensate (C5+) in the Y zone

(Oilex net working interest 170 Bcf gas and 7.8 MMbbls of C5+)

· Gross 2C Unrisked Contingent Resources of 720 Bcf gas and 52.8 MMbbls of C5+ in the X and Y zones
(Oilex net working interest 324 Bcf gas and 23.8 MMbbls of C5+)

· 2P Reserves validate Oilex's program for commercial development of the Cambay Field

· Engineering studies for permanent gas processing facilities have commenced

· Establishment of Reserves provide a strong foundation for the expedited development of the Cambay Field to achieve key corporate objectives of increasing reserves, production and cashflow

· Three wells to come into production in two separate fields in 2015

o Cambay-73 production to commence in May 2015

o Bhandut-3 production to commence in July 2015

o Cambay-77 production to commence in August 2015

BHANDUT FIELD, ONSHORE GUJARAT, INDIA

· Design engineering work for the gas production facilities required has been completed. Scope of work and materials requirements are expected to be finalised early May, with procurement of equipment expected to commence during May. Delivery of critical equipment will govern the start of Bhandut-3 gas production.

CORPORATE

· In January 2015 Oilex appointed Mr Jeffrey Auld as a Non-Executive Director. The appointment of a UK based independent non-executive director, with significant experience in the London capital markets and upstream oil and gas industry, is in line with the Company's decision to appoint additional directors to achieve the right mix of skills, experience and diversity which reflects the Company's strategy and increases the balance of independence on the Board.

· During the quarter Oilex appointed Westhouse Securities Limited as its UK Broker. Westhouse is a corporate and institutional stockbroking group with a strong track record across a number of market sectors. Subsequent to the end of the quarter, Oilex appointed PAC Partners Pty Ltd as its Australian Broker. PAC Partners is a leading independent equities provider with a focus on leading emerging and mid cap companies and also the wholesale business partner of PhillipCapital in Australia.

FULL REPORT FROM LINK BELOW

http://www.moneyam.com/action/news/showArticle?id=5026816

Oilex poised to restart three historic wells this year
By Giles Gwinnett
April 30 2015, 8:46am

India focused oil and gas firm Oilex (LON:OEX) is set to put three historical wells in two separate fields into production in 2015, it told investors in a quarterly update.

Cambay-73 production is due to begin in May this year; Bhandut-3 production to commence in July and Cambay-77 production to kick off in August, it said.

It is the first time gas has been produced fro Cambay since the early 1990's, the group said.

"Production from these wells will be a substantial step towards cash positive operations in India for the company as a result of the strong gas demand and associated robust gas price structure."

Cambay-73 will supply gas to a low pressure gas market near the field and is expected to produce around 50-60boepd (barrels of oil equivalent per day) of gas and condensate.

Earlier this month, the firm released a resource upgrade validated the commercial development of the Cambay Field.

The Y zone at Cambay is now said to contain 2P (proved and probable) reserves of 206 Bcf (billion cubic feet) gas and 8 MMbbls (millions of barrels) of condensate (C5+).

Of this, Oilex has a net working interest of 93 Bcf gas and 3.6 million barrels (MMbbls) of condensate.

Across two zones, X and Y, 2C contingent resources were 720 Bcf gas and 52.8 MMbbls of condensate, of which Oilex’s net working interest is 324 Bcf gas and 23.8 MMbbls.

At the end of the quarter, the firm had cash of $2.7 million and is currently reviewing funding options for the Cambay 2015/16 work programme.

The establishment of 2P reserves at Cambay provides additional funding options including project finance, which will be reviewed and assessed, it said.

Oilex to Bring Into Production Three Gas Wells in India This Year
May 04th, 2015



Oilex will bring into production three wells in two separate fields in Gujarat, India in 2015, the company said in its quarterly report last week.

Cambay-73 will come into production this month; Bhandut-3 production expected to commence in July and Cambay-77 production will start in August, Oilex said.

Oilex will recommence gas production in Cambay field for the first time since early 1990’s.

"Production from these wells will be a substantial step towards cash positive operations in India for the company as a result of the strong gas demand and associated robust gas price structure,” it said.

The company late last month said it has completed the Cambay-73 oil and gas production facilities in India’s Gujarat state on budget and ahead of schedule. Construction of the pipeline has commenced and it is expected to be at site ready for connection to the production facilities during May 2015 which will enable final commissioning to be completed, the company said.

Cambay-73 will supply gas to a low pressure gas market in the vicinity of the Cambay field and is expected to produce approx. 50-60 boepd of gas and condensate.

11 May 2015
ASX: OEX
AIM: OEX

INVESTOR PRESENTATION - MAY 2015

Oilex Ltd advises that a copy of an Oilex Investor Presentation dated May 2015 can be viewed by clicking on the below link.

http://www.rns-pdf.londonstockexchange.com/rns/7181M_-2015-5-11.pdf

For and on behalf of Oilex Ltd

Chris Bath
Chief Financial Officer and Company Secretary

http://www.moneyam.com/action/news/showArticle?id=5033650

Also a 5 Minute Pitch Interview:

http://www.oilex.com.au/investor-information/news/news-detail/2015/05/11/fmptv-5-minute-pitch-interview

Hi there. As well as the TV interview we did for Oilex you can also find a range of other information on the company here;

www.fmp-tv.co.uk/companies/oilex-ltd

This was in the public domain about 13:00 yesterday:

13 May 2015
ASX: OEX
AIM: OEX

JPDA 06-103 Joint Venture

Oilex Ltd, in its capacity as Operator, on behalf of the Joint Venture Participants in the Joint Petroleum Development Area ("JPDA") 06-103 Production Sharing Contract ("PSC"), submitted a request to the Autoridade Nacional do Petroleo ("ANP") to terminate the PSC by mutual agreement in accordance with its terms and without penalty or claim on 12 July 2013 ("Request to Terminate").

The Request to Terminate followed Joint Venture concerns over the security of PSC tenure as a result of developments within the JPDA, including JPDA (06-103), which are outside the control and influence of the Joint Venture Participants, including:

(a) existence of separate unilateral rights to terminate the Certain Maritime Arrangements in the Timor Sea ("CMATS") arising in 2013 in favour of both the Government of Timor Leste and the Government of Australia; and

(b) formal arbitration proceedings being initiated by the Timor Leste Government against the Government of Australia to have CMATS declared void ab initio.

On 15 January, 2014 the ANP suspended the PSC for 3 months to provide sufficient time for a response to the Request to Terminate be determined. The ANP has subsequently granted successive 3 month extensions to the PSC.

The PSC is currently suspended until 15 July 2015 but remains in good standing.

The ANP has responded to the Joint Venture in a letter dated 11 May 2015 and advised the Request to Terminate has been rejected. The ANP have further indicated their intention to serve notice to terminate under the terms of the PSC. A notice to terminate has not been received.

The Joint Venture will consider the ANP's response to ascertain the most appropriate way forward.

The Joint Venture Participants in JPDA 06-103 are:


Oilex (JPDA 06-103) Ltd (Operator) 10.0%
Japan Energy E&P JPDA Pty Ltd 15.0%
GSPC (JPDA) Limited 20.0%
Videocon JPDA 06-103 Limited 20.0%
Bharat PetroResources JPDA Ltd 20.0%
Pan Pacific Petroleum (JPDA 06-103) Pty Ltd 15.0%


For and on behalf of Oilex Ltd

Chris Bath

Chief Financial Officer

http://www.moneyam.com/action/news/showArticle?id=5035516

Oilex confirms intention to exit Timor Sea venture
By Jamie Ashcroft
May 13 2015

Oilex (LON:OEX) has confirmed it intends to terminate contracts for an exploration project in the Timor sea.

The AIM junior is the operator of the project, which strategically is considered non-core, and it has a 10% stake in the joint venture alongside five other companies.

The termination was described as being mutual, and it comes amid concerns over the security of the production sharing contract’s (PSC) tenure which are outside the control of the companies; issues such as formal arbitration between the government of Australia and the Timor Leste government.

Oilex said the PSC is currently suspended until July 15, but it remains in good standing.

Timor-Leste’s Autoridade Nacional do Petróleo (ANP) – the National Petroleum Authority – has rejected the company’s request to terminate though it advised its intention to terminate under the terms of the PSC. No such notice has yet been received, though Oilex said the joint venture partners will consider ANP’s response and ascertain the most appropriate way forward.



Edit-Better explanation about this mornings news from Morningstar below:

14 May 2015
ASX: OEX
AIM: OEX

JPDA 06-103 Joint Venture



Oilex Ltd ("Oilex"), in its capacity as Operator, on behalf of the Joint Venture Participants in the Joint Petroleum Development Area ("JPDA") 06-103 Production Sharing Contract ("PSC"), has received a Notice of Intent to Terminate the PSC ("Notice") from the Autoridade Nacional do Petroleo ("ANP"). The Notice follows on from the recent rejection by the ANP of the Joint Venture Request to Terminate the PSC by mutual agreement, in good standing and without penalty ("Request to Terminate").

The Notice asserts a monetary claim against the Joint Venture for payment of the estimated cost of exploration activities not carried out in 2013 and certain local content obligations set out in the PSC. The total amount sought to be recovered by the ANP in the Notice is approximately USD17M (Oilex share USD1.7M). The Company has not provided for a monetary settlement in its accounts and given the significant overpayment in the work programme would not anticipate making such a provision.

The Joint Venture has previously requested credit for excess expenditure on the approved work program in the amount of circa USD56M and this issue remains unresolved. The Notice does not include any reference to, nor allowance for, credit for excess monies which have been spent by the Joint Venture during the PSC term. Oilex considers such excess expenditure should be included as part of any financial assessment incorporated in the termination process.

The ANP has requested the Joint Venture submit a written response to the Notice by 12 June 2015. In accordance with this request, the Operator, and the Joint Venture, will review the Notice and deliver a formal response within the specified period.

The PSC remains in formal suspension until 15 July 2015.


Background


The Request to Terminate was made due to Joint Venture concerns as to the security of PSC tenure as a result of separate unilateral rights to terminate the Certain Maritime Arrangements in the Timor Sea ("CMATS") arising in 2013 in favour of both the Government of Timor Leste and the Government of Australia and formal arbitration proceedings being initiated by the Timor Leste Government against the Government of Australia to have CMATS declared void ab initio.

These matters remain unresolved at present.

The Joint Venture Participants in JPDA 06-103 are:


Oilex (JPDA 06-103) Ltd (Operator)-10.0%
Japan Energy E&P JPDA Pty Ltd-15.0%
GSPC (JPDA) Limited-20.0%
Videocon JPDA 06-103 Limited-20.0%
Bharat PetroResources JPDA Ltd-20.0%
Pan Pacific Petroleum (JPDA 06-103) Pty Ltd-15.0%

For and on behalf of Oilex Ltd

Chris Bath

Chief Financial Officer

http://www.moneyam.com/action/news/showArticle?id=5036793

18 May 2015
ASX: OEX
AIM: OEX

PESA Deal Day Presentation

Oilex Ltd advises that a copy of an Oilex Presentation dated May 2015 can be viewed by clicking on the below link.

http://www.rns-pdf.londonstockexchange.com/rns/4098N_-2015-5-18.pdf

http://www.moneyam.com/action/news/showArticle?id=5038346

8 June 2015
ASX: OEX
AIM: OEX


Cambay-73: Pipeline and pre-commissioning completed

· Laying of pipeline complete

· Tie-in to the production facilities is in progress

· Production of ~50-60boepd to commence within 2 weeks after commissioning completed

Oilex is pleased to announce that the laying of the pipeline has been completed, with tie in to the production facilities expected to be completed shortly. The Cambay-73 oil and gas production facilities have finished pre-commissioning and are now ready for commissioning and start-up.

Cambay-73 will supply gas to the low pressure gas market in the vicinity of the Cambay Field and is expected to produce approximately 50-60boepd of gas and condensate. The condensate will be separated at the field and trucked to a nearby refinery together with other Cambay crude oil produced.

The scheduled commencement of gas sales into the Indian domestic market reinforces Oilex's strategic advantage as an early mover in India and highlights the Company's ability to access infrastructure and successfully execute its work program.

Managing Director of Oilex, Ron Miller, said;

"The commencement of gas production from the Cambay-73 facilities is a significant milestone for Oilex and marks the first step on the path to achieving positive cash flow from operations in India. Oilex continues to deliver on its plan of production, near-term cashflow and reserves growth to create a sustainable business in the midst of a robust and supportive domestic market for petroleum energy."

http://www.moneyam.com/action/news/showArticle?id=5052039

Oilex (LON:OEX/ASX:OEX) – Next Stage Beckons

Today's news that Oilex's Cambay field is entering the final stages of commissioning is good news, not just for the Company, but shareholders too. Now that the near term cash flow has been shored up, we believe that the next stage is for management to focus on how to maximise the benefits from its ownership of Cambay to generate further value for shareholders.

The next stage is going to be vital, as it is going to be key to understanding the direction the Company intends to move in next. Of course, we are assuming that Cambay will produce sufficient excess cash flow to deploy elsewhere in the portfolio, which is something that the management team will have to ensure.

Today's news is a solid step forwards for the Company, and while it is one that deserves to be congratulated, the next stages are now the most important, such as the field's full development strategy and the use of proceeds to generate further value.

10 June 2015
ASX: OEX
AIM: OEX

PAC Partners Broker Research

Oilex Ltd advises that that an independent research report has been completed by PAC Partners and the report is now available on the Company's website
http://www.oilex.com.au/

This document is an analyst's report and contains estimates and forecasts prepared by the researcher and extrapolated from information on the Company already in the public domain. Such forecasts do not represent specific guidance issued by the Company.

http://www.moneyam.com/action/news/showArticle?id=5053803


http://www.oilex.com.au/docs/default-source/Analyst-Research/20150610-pac-rr_oex_150609.pdf?sfvrsn=0

Might explain today's rise:

Carlyle joins Cairn Energy's Mike Watts to recreate magic
By Arijit Barman, ET Bureau
22 Jun, 2015

MUMBAI: The man who hit a jackpot under the sands of Rajasthan's Thar desert by finding over a billion barrels of oil when nobody believed there could be any is back to what he does best - hunt for more.

Mike Watts, the maverick oil explorer credited as the geological brains behind Cairn Energy's blockbuster drilling success in India is teaming up with Carlyle, among the largest global private equity groups, to roll out a brand new upstream oil and gas company Magna Energy focusing on the Indian subcontinent and South Asia, said multiple officials involved.

Carlyle International Energy Partners (CIEP), a specialist fund for hydrocarbon and oil and gas sector investments will be backing the fledgling Magna Energy with a $500 million (Rs 3174 crore) funding commitment to take off its operations.

Watts, the former Exploration Director with Cairn who went on to become its Deputy CEO had stepped down in 2014 and joined forces with his former CFO turned Managing Director Jann Brown to found Magna. The idea is to build an oil & gas company that will build acreage positions won through new licensing rounds and acquisitions.

With the Modi government gearing up to invite fresh bids to develop marginal fields in the coming months followed soon by another round of hydrocarbon block auctions under New Exploration Licensing Policy (NELP), the committed equity back up from Carlyle will help Magna to bid aggressively or scout for M&A targets in the sector. Magna's principle focus will be development and production followed by exploration. The Consolidated Contractors Group (CCC) a leading civil construction major throughout the Middle East and Africa and Ayman Asfari, CEO of Petrofacs, a large oil field services provider from are also believed to be junior partners of Magna.


The announcement is expected as early as today.

A Carlyle spokesperson declined to comment on ET's detailed questionnaire. Watts said an announcement is due on Monday but didn't share any specific details.

Magna doesn't own any block by themselves as yet. But it is already a 17 per cent shareholder in Oilex Ltd, another young exploration and production (E&P) company with a diversified portfolio of oil and gas projects providing a pipeline from early stage exploration through to pre-production assets. Their flagship project in the onshore Cambay Basin region in Gujarat is a near term unconventional siltstone gas play - known as tight hydrocarbon project in oil industry parlance. Oilex is the operator of the field with a 45 per cent stake. With .2 trillion cubic feet (tcf) or 208 billion cubic feet (bcf) of proven and probable 2P reserves, the company is now entering the development phase in Cambay. The drilling of the first two production wells is also scheduled to commence in 2HCY15. Oilex, dually listed in London and Australia, also operates the smaller conventional gas asset in Bhandut, also in Gujarat's Cambay Basin with a 40 per cent stake. Its global portfolio includes acreage in Australia and Indonesia.

Link below for full article:

http://economictimes.indiatimes.com/industry/energy/oil-gas/carlyle-joins-cairn-energys-mike-watts-to-recreate-magic/articleshow/47761775.cms?from=mdr

One Year Chart

Three Month Chart

29 June 2015
ASX: OEX
AIM: OEX

Cambay Field: Gas Sales Commence

· Gas sales have commenced from Cambay-73 well which demonstrated deliverability in excess of 95 boepd during start-up operations, significantly above expectation.

· Cambay-73 average daily production is now ~50.5 boepd, including condensate, as production increases.

· Field production will further increase when Cambay-77H starts production and the 5 firm workovers are completed in H2 2015.

· Targeting cash flow positive operations in India by the end of 2015.

Oilex Ltd is pleased to announce the commencement of gas sales from Cambay-73 into the low pressure local market near the Cambay Field. Average daily production from Cambay-73 is ~ 50.5 boepd including condensate. This is the first gas to be sold from the Y zone in the Eocene EP-IV Formation that contains 2P gas Reserves of 206 Bcf and 2P oil Reserves of 8 MMbbls as independently assessed by RISC Operations Pty Ltd. For further information, please refer to Oilex's announcement dated 16 April 2015 for details of the independently classified Cambay Field Reserves and Contingent Resources.

Demand for gas from local light industrial businesses is ongoing, with expressions of interest to purchase gas continuing to be received by Oilex including from buyers who previously bid for Cambay-73 gas. Later this year, Oilex intends to recommence production from Cambay-77H to increase gas sales to the local market as well as commencing gas sales from Bhandut-3. In addition, the approved firm work programme for 2015/16, which is subject to available funding, includes 5 well workovers and consideration is being given to those which have penetrated the same formation and could be capable of gas production for the local market.

Condensate (API 49º) co-produced with gas is separated at the Cambay Field, combined with other Cambay Field crude oil and transported by truck to be sold to a nearby refinery at import parity price using Bonny Light Crude as a marker reference.

Managing Director of Oilex, Ron Miller, said;

"The commencement of gas production from Cambay-73 facilities is a significant milestone for Oilex and marks the first step on the path to achieving positive cash flow from operations in India. Oilex continues to deliver on its plan of production, near-term cash flow and reserves growth to create a sustainable business in the midst of a robust and supportive domestic market for petroleum energy."

For and on behalf of Oilex Ltd

Ron Miller
Managing Director

http://www.moneyam.com/action/news/showArticle?id=5065107

1 July 2015

Trading halt request

Oilex Ltd (ASX: OEX, AIM: OEX) (Oilex) requests a trading halt in the quotation of its ordinary shares effective immediately.

Pursuant to ASX Listing Rule 17.1, Oilex provides the following information:

· the trading halt is requested pending the outcome of a proposed capital raising;

· Oilex requests the trading halt remain in place until the earlier of such time as it is in a position to make an announcement in relation to the outcome of the proposed capital raising and the commencement of trading on Friday 3 July 2015; and

· Oilex is not aware of any reason why the trading halt should not be granted, or of any other information available at this stage that is necessary to inform the market or the ASX about the trading halt.

Yours faithfully

Chris Bath

http://www.moneyam.com/action/news/showArticle?id=5067576

Oilex falls as investors await funding news
08:59 01 Jul 2015
Jamie Ashcroft

Oilex requested a trading halt for its Australian securities


Oilex (LON:OEX) shares dropped around 8% in early deals on Wednesday as investors anticipate funding news.

A statement today revealed the company had requested a halt to trading in its Australian shares “pending the outcome of a proposed capital raising”.

Trading may not resume in the Aussie listed securities until the end of the week.

“Oilex requests the trading halt remain in place until the earlier of such time as it is in a position to make an announcement in relation to the outcome of the proposed capital raising and the commencement of trading on Friday 3 July,” the company said in the statement.

On AIM, Oilex shares were down 0.25p, 8.3%, trading at 2.75p each.

Monday brought the news that gas sales had begun from Oilex’s flagship Cambay field in India.

Production begun with the Cambay-73 well, which came online with indications that it could potentially exceed expectations.

Output is expected to ramp-up with the ongoing development of the Cambay field; which will see the 77-H well come online, and five additional work-over wells. Gas production is also expected from the start-up of the Bhandut 3 well.

Oilex is targeting ‘cash flow positive operations’ in India by the end of 2015.

http://www.proactiveinvestors.co.uk/companies/news/108581/oilex-falls-as-investors-await-funding-news-108581.html

3 July 2015
ASX: OEX
AIM: OEX

ASX Voluntary Suspension

Further to the announcement of 1 July 2015, Oilex (ASX: OEX, AIM: OEX) ("Oilex", or the "Company") announces that the securities of the Company have been placed in a voluntary suspension on the Australian Securities Exchange ("ASX") pending the release of an announcement regarding the proposed capital raising.

The suspension was granted by the ASX at the Company's request in accordance with the ASX Listing Rules, in order to allow a proposed capital raise to be finalised. The Company anticipates the suspension on the ASX will remain in place until the earlier of such time it makes an announcement to the market in relation to the outcome of the proposed capital raise, or the commencement of trading on 7 July 2015. The Company's ordinary shares will continue to trade on AIM during this period.

http://www.moneyam.com/action/news/showArticle?id=5069903

7 July 2015
ASX: OEX
AIM: OEX

ASX Voluntary Suspension


Further to the announcement of 3 July 2015, Oilex (ASX: OEX, AIM: OEX) ("Oilex", or the "Company") announces that the securities of the Company continue in voluntary suspension on the Australian Securities Exchange ("ASX") pending the release of an announcement regarding the proposed capital raising.

The suspension was granted by the ASX at the Company's request in accordance with the ASX Listing Rules, in order to allow a proposed capital raise to be finalised. The Company anticipates the suspension on the ASX will remain in place until the earlier of such time it makes an announcement to the market in relation to the outcome of the proposed capital raise, or the commencement of trading on 8 July 2015. The Company's ordinary shares will continue to trade on AIM during this period.

http://www.moneyam.com/action/news/showArticle?id=5071182

Oilex Aussie trading suspension continues
Jamie Ashcroft
08:28 07 Jul 2015

The company’s AIM quoted shares continue to be tradeable

Oilex (LON:OEX) told investors that its Australian shares remain suspending from trading pending funding news.

ASX quoted shares were suspended at the company’s request earlier this month to allow a proposed funding to be finalised.

The company said the suspension on the ASX will remain in place until either it makes an announcement to the market of the proposed capital raise, or by July 8 (tomorrow).

In London the company’s AIM quoted shares continue to be tradeable.

Oilex last month began gas sales from its flagship Cambay field in India. Production begun with the Cambay-73 well, which came online with indications that it could potentially exceed expectations.

Output is expected to ramp-up with the ongoing development of the Cambay field; which will see the 77-H well come online, and five additional work-over wells. Gas production is also expected from the start-up of the Bhandut 3 well.

Oilex is targeting ‘cash flow positive operations’ in India by the end of 2015.

SEE LINK FOR FULL ARTICLE


Placement and Rights Issue to Fund 2015/16 Work Programme



· Two tranche placement and underwritten rights issue to raise US$23 million (A$30 million) (Capital Raising)*

· Fully funded to deliver the Cambay Field 2015/16 work programme, a transformational event for the Company

· First tranche placement completed to raise US$1.4 million (A$1.8 million)

· Second tranche placement completed to raise US$16.3 million (A$21.2 million), subject to shareholder approval

· Fully underwritten rights issue to raise US$5.3 million (A$7.0 million)

· Funds will be used for:

o the Cambay and Bhandut Field work programmes for 2015/16 year

o minimum work commitments in the Canning Basin and working capital

· Zeta Resources Limited (Zeta) to acquire approximately 19.6% interest in Oilex



Managing Director of Oilex, Ron Miller, said;

"We are very pleased with the strong support for the Placement and welcome a number of new institutional and sophisticated investors to the Company. Successful delivery of the Cambay Field 2015/16 work programme will be a transformational event for Oilex and India. These wells will continue to demonstrate the potential of the Cambay Basin to deliver indigenous natural gas and oil to India's fast growing economy by using horizontal wells and multistage fracture stimulation technology.

For Oilex, it means increased production and cash flow to build a strong foundation for future growth in shareholder value and returns."



For and on behalf of Oilex Ltd
Ron Miller

Managing Director

http://www.moneyam.com/action/news/showArticle?id=5071834

Oilex Proposes Raising AUD30 Million Via Placing, Rights Issue (ALLISS)
Alliance News 7 July, 2015 | 3:39PM

LONDON (Alliance News) - Oilex Ltd Tuesday said it has conducted a placing to raise AUD1.8 million and will seek shareholder approval to conduct a further, larger placing to raise another AUD21.2 million and a rights issue for a further AUD7.0 million.

Oilex is aiming to raise a total of AUD30 million under its proposals.

The company, under its ASX listing, has issued 45.4 million new shares at AUD0.041 per share to raise the AUD1.8 million, roughly USD1.4 million.

Oilex did not need shareholder approval to conduct the placing. However, Oilex will seek approval from shareholders to issue a second tranche of shares, consisting of a further 287.3 million new shares at AUD0.041 per share and another 225.5 million new shares at AUD0.0418 per share to raise a combined AUD21.2 million, roughly USD16.3 million.

Under that second tranche, the 225.5 million new shares at AUD0.0418 will be issued to Zeta. Zeta is paying the higher price in consideration of a deferred settlement date for those shares of up to five months from the general meeting where shareholders will vote on the second tranche, it said.

On completion of the capital raising, if approved, Zeta will hold approximately 19.6% of the expanded shares in issue.

"This deferred settlement is not expected to impact the timing of the Cambay and Bhandut Field 2015/16 work programmes," said Oilex.

The company is also separately undertaking a renounceable rights issue to all eligible shareholders to enable eligible shareholders to have the opportunity to participate in the capital raising process at the same price as the first tranche at AUD0.041 per share.

That rights issue is fully underwritten and expected to raise a further total of AID7.0 million or USD5.3 million via the issue of 169.5 million new shares on the basis of 1 new share at AUD0.041 for every 4 shares currently held by shareholders, it said.

The meeting for shareholders to vote on the company's plans will take place on August 12.

Oilex shares were down 4.4% to 2.15 pence per share on Tuesday afternoon.

By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance

Oilex unveils plans for major US$23mln recapitalisation
Jamie Ashcroft
16:11 07 Jul 2015

Proceeds will enable a 'transformational' work programme in India and Australia, Oilex says

Oilex (LON:OEX) has unveiled plans to raise US$23mln (A$30mln) through the sale of new shares, the majority of which will be bought by Australian group Zeta Resources.

It represents a major recapitalisation for the company, which at a price of 2.12p has a current market value of just under £14.5mln.

Proceeds of the share sale will be used to fund a 'transformational' work programme over the course of 2015 and 2016, Oilex told investors.

Not only will the funding support the expansion of gas producing operations at the Cambay field in India, including two new wells, it will also allow Oilex to complete its minimum work commitments in the Canning basin, in Western Austalia.

Ron Miller, Oilex chief executive, in a statement said: “Successful delivery of the Cambay Field 2015/16 work programme will be a transformational event for Oilex and India.

“These wells will continue to demonstrate the potential of the Cambay Basin to deliver indigenous natural gas and oil to India's fast growing economy by using horizontal wells and multistage fracture stimulation technology.

“For Oilex, it means increased production and cash flow to build a strong foundation for future growth in shareholder value and returns."

There will be an initial US$1.4mln (A$1.8mln) share placing to sophisticated investors will provide a quick injection of capital.

A subsequent US$16.3mln (A$21.2mln) transaction will see Zeta take a 19.6% stake in AIM and ASX listed Oilex, meanwhile, existing investors also have the opportunity to subscribe for new shares via an underwritten US$5.3mln (A$7mln) rights issue.

Shares created though the major recapitalisation will represent around two thirds of the enlarged company.

New shares sold via the share placings will be priced at 2p (or 4.1 cents), whereas the rights issues works out at 2.04p per share.

Shareholders will be able to buy one new Oilex share for every four existing shares they own.

The Zeta share placing will be subject to approval from existing shareholders, and it is anticipated that a vote will take place at an EGM pm August 12.

NOTICE OF GENERAL MEETING

Annexure A "Explanatory Memorandum" (attached)

should be read in conjunction with this Notice of Meeting.

http://www.moneyam.com/action/news/showArticle?id=5072131

FULL ANNOUNCEMENT FROM LINK AT BOP.

8 July 2015

Dear Option Holder

Oilex Ltd - Renounceable rights issue


As announced today, Oilex Ltd (Oilex) is undertaking a renounceable pro-rata offer of new ordinary shares in Oilex (New Shares) at an offer price of A$0.041 (or £0.02 for Depository Interest holders) per New Share to raise approximately A$7.0 million (before costs) (Rights Issue). The Rights Issue is being made on the basis of 1 New Share for every 4 Oilex shares held at 5.00pm (AWST) on 14 July 2015 or in the case of Depositary Interest holders, 5.00pm (GMT)) on 13 July 2015 (the Record Date). The Rights Issue is being fully underwritten by Patersons Securities Limited.

http://www.moneyam.com/action/news/showArticle?id=5072227

ASX Announcement
9 July 2015
ASX: OEX
AIM: OEX

Rights Issue - Letter to Shareholders and revised Timetable

Attached is a copy of the letter being sent to Oilex Ltd shareholders today in connection with the renounceable rights issue announced yesterday.

The timetable for the rights issue has been updated. The updated timetable is set out in the attached letter.

Yours faithfully
Chris Bath
Company Secretary

Rights Issue – Letter to Shareholders and revised Timetable

http://www.moneyam.com/action/news/showArticle?id=5073039

Missed this from yesterday:

Oilex boss on transformational programme and cash generation (video)

Published on 9 Jul 2015


Ron Miller, chief executive of Oilex (LON:OEX), tells Proactive Investors about the multi-million US dollar recapitalisation that allows the oil and gas exploration and production company to ramp up production in India, service local gas markets and enter the national grid.

Miller expects a lot of activity over the next 18 months as Oilex targets becoming operationally cash flow positive in India by the end of 2015 on the back of 340 barrels of oil equivalent per day of production from the Cambay and Bhandut fields. Oilex will also be spudding Cambay 78 and Cambay 80 and drilling those wells to completion.

https://www.youtube.com/watch?v=cdNwlvZqyEY

15 July 2015
ASX: OEX
AIM: OEX

Issue of Shares under First Tranche Placement


As announced on 8 July 2015, Oilex Ltd (Oilex) is undertaking a capital raising to raise approximately A$30 million. Oilex is pleased to announce that the First Tranche Placement of 45 million new ordinary shares (Placement) under the Company's existing placement capacity pursuant to ASX Listing rule 7.1, at an issue price of A$0.041 to sophisticated investors to raise A$1.8 million (before issue costs) has been successfully completed.

The funds raised from the Placement will be applied towards the 2015/16 work programme in India, minimum work commitments in the Canning Basin and working capital. The 2015/16 work programme in India includes 2 horizontal multistage fracture stimulated production wells and 5 workovers of legacy wells at the Cambay Field designed to start production of the previously announced independently classified Reserves. This programme is expected to significantly increase Oilex's production and cash flow after the 2 production wells, Cambay-78H and Cambay-80H, are brought online.

Managing Director of Oilex, Ron Miller, said;

"We are very pleased with the strong support for the Placement and welcome a number of new institutional and sophisticated investors to the Company. Successful delivery of the Cambay Field 2015/16 work program will be a transformational event for Oilex and India. These wells will continue to demonstrate the potential of the Cambay Basin to deliver indigenous natural gas and oil to the India's fast growing economy by using horizontal wells and multistage fracture stimulation technology.

For Oilex, it means increased production and cash flow to build a strong foundation for future growth in shareholder value and returns."

http://www.moneyam.com/action/news/showArticle?id=5076033

Oilex Issues Shares In First Stage Of AUD30 Million Fundraising (ALLISS)
Alliance News 15 July, 2015 | 9:04AM
By Joshua Warner

LONDON (Alliance News) - Oilex Ltd Wednesday said it has issued the first tranche of shares under its AUD30 million capital raising.

The India-focused oil company said it has completed the issue of 45.0 million new shares in the company at AUD0.041 per share to "sophisticated investors" to raise a total of AUD1.8 million.

That is part of the company's larger capital raising announced earlier in July. The first stage is now complete and will be followed by a further, larger placing to raise another AUD21.2 million and a rights issue for a further AUD7.0 million to reach the ultimate AUD30 million target.

Oilex did not need shareholder approval to conduct the first placing, but will need approval to issue a second tranche of shares, consisting of a further 287.3 million new shares at AUD0.041 per share and another 225.5 million new shares at AUD0.0418 per share to raise a combined AUD21.2 million, roughly USD16.3 million.

Under that second tranche, the 225.5 million new shares at AUD0.0418 will be issued to Zeta Resources Ltd. Zeta is paying the higher price in consideration of a deferred settlement date for those shares of up to five months from the general meeting where shareholders will vote on the second tranche.

On completion of the capital raising, if approved, Zeta will hold approximately 19.6% of the expanded shares in issue. Zeta is an active, resources focused holding and development company listed on the ASX, and is 85% owned by Utilico Investments Ltd.

The company also will separately undertaking a renounceable rights issue to all eligible shareholders to enable shareholders to have the opportunity to participate in the capital raising process at the same price as the first tranche at AUD0.041 per share.

That rights issue is fully underwritten and expected to raise a further total of AUD7.0 million, or USD5.3 million, via the issue of 169.5 million new shares on the basis of 1 new share at AUD0.041 for every 4 shares currently held by shareholders.

The total AUD30 million capital raising will be used for the company's work programme at the Cambay oilfield in India during 2015 and 2016. The 2015/16 work programme in India includes two horizontal multistage fracture stimulated production wells and five workovers of legacy wells.

"This programme is expected to significantly increase Oilex's production and cash flow after the two production wells, Cambay-78H and Cambay-80H, are brought online," said Oilex Wednesday. Oilex shares were up 4.1% to 2.08 pence per share on Wednesday morning.

16 July 2015
ASX: OEX
AIM: OEX

JPDA 06-103 Joint Venture

Further to the Announcement of 14 May 2015, Oilex Ltd ("Oilex"), in its capacity as Operator, on behalf of the Joint Venture Participants in the Joint Petroleum Development Area ("JPDA") 06-103 Production Sharing Contract ("PSC") has received a Notice of Termination and Demand for Payment ("Notice") from the Autoridade Nacional do Petroleo ("ANP").

The Notice accords with details set out in the previous Announcement.

The parties continue to discuss the financial liability of the Contractor upon termination.

http://www.moneyam.com/action/news/showArticle?id=5076905

JPDA 06-103 Joint Venture (14th May 2015)

ASX Announcement
17 July 2015
ASX: OEX
AIM: OEX

Dispatch of Offer Booklet and Entitlement and Acceptance Form


Oilex Ltd is pleased to announce that in respect of the pro-rata renounceable entitlement offer announced on 7 July 2015, the following documents have now been dispatched to shareholders:

· Offer Booklet dated 15 July 2015; and

· Entitlement and Acceptance Form.

A copy of these documents is attached.

http://www.rns-pdf.londonstockexchange.com/rns/3383T_-2015-7-17.pdf


http://www.moneyam.com/action/news/showArticle?id=5077655

17 July 2015

Dear Shareholder


Oilex Ltd - Renounceable Rights Issue


Background

As announced on 7 July 2015, Oilex Ltd (Oilex) is undertaking a capital raising to raise approximately A$30 million. As part of the capital raising Oilex is undertaking a renounceable pro-rata offer of new ordinary shares in Oilex (New Shares) at an offer price of A$0.041 (or £0.02 for Depository Interest holders) per New Share to raise approximately A$7 million (before costs) (Rights Issue). The Rights Issue is being made on the basis of 1 New Share for every 4 Oilex shares held at 5.00pm (AWST) (or in the case of Depositary Interest holders, 5.00pm (GMT)) on 14 July 2015 (the Record Date). The Rights Issue is being fully underwritten by Patersons Securities Limited.

The net proceeds of the Rights Issue will be used primarily to fund part of the Cambay and Bhandut Field work programmes for the 2015/16 year, minimum work commitments in the Canning Basin and general working capital purposes.

This letter is to inform you about the Rights Issue, and to explain why you will not be able to subscribe for New Shares under the Rights Issue. This is not an offer to issue New Shares to you, nor an invitation for you to apply for New Shares. You are not required to do anything in response to this letter.

More from link below:

Oilex Ltd - Renounceable Rights Issue

Oilex proceeds with A$7mln rights issue
08:36 17 Jul 2015
Jamie Ashcroft

The rights issue is part of a larger financing round

Oilex(LON:OEX) has publicised the details of its proposed A$7mln shareholder rights issue which forms part of a larger A$30mln funding.

Cash proceeds from the fund raise are earmarked for a major work programme to scale up the Cambay and Bhandut gas fields in India.

Shareholders have the right to purchase one new Oilex share, priced at 4.1 Australian cents, for every four existing shares they own.

Only shareholders in Australia, New Zealand or the United Kingdom are eligible to participate.

The record date for the rights issue was July 14 (so the above terms are applicable to shareholdings on that date) and shareholders have until 5pm Western Australian time on July 28 to take up their right to buy shares.

Earlier this week Oilex completed an initial A$1.8mln share placing.

A further placing of shares to Zeta Resources will complete the $30mln funding round.

Zeta is acquiring investing A$21.2mln in return for a 19.6% stake in the company.

20 July 2015
ASX: OEX
AIM: OEX


Capital Raising - Update

On 7 July 2015, the Company announced that it was undertaking a capital raising package to secure approximately A$30 million (before costs) (Capital Raising). A component of the Capital Raising included approximately A$9.4 million through the issue of 225,490,196 Shares to Zeta Resources Limited (Zeta Deferred Shares) at A$0.04182 per Share.

As announced on 8 July 2015, Oilex is seeking Shareholder approval at a General Meeting on 12 August 2015 for the issue and allotment of the Zeta Deferred Shares within five (5) months after the General Meeting, this required the Company to seek an ASX waiver of Listing Rule 7.3.2 which stipulates all shares must be issued no later than three (3) months after the date of the General Meeting.

The Company has been notified this waiver will not be granted.

Subject to shareholder approval, the Company will now proceed to issue and allot the Zeta Deferred Shares within three (3) months after the date of the General Meeting in accordance with Listing Rule 7.3.2

For and on behalf of Oilex Ltd

Ron Miller
Managing Director

http://www.moneyam.com/action/news/showArticle?id=5078478

21 July 2015
ASX: OEX
AIM: OEX


Cambay Field: Production Update

· Cumulative gas sales of 5.12 MMscf from Cambay-73 for 22 days to 17 July 2015

· Cambay-73 operating at 100% availability

· Average daily gas demand in low pressure network has increased from ~250Mscfd to ~320Mscfd

· Cumulative total oil/condensate production of 336 bbls during same period

Oilex Ltd is pleased to provide an update from the Cambay Field subsequent to the commencement of gas sales from Cambay-73 into the low pressure network. Cambay-73 averaged ~ 54boepd during 22 days from 26 June 2015. Cambay-73 has achieved 100% operational availability during this period. Its condensate to gas ratio (CGR) is calculated to be 58bbls per MMscf, which is 26% higher than the CGR used in the Independent Reserves Report from RISC Operations Pty Ltd. If sustained over time and in other wells, this may have a positive impact on the condensate/light oil included in the Reserves. Please refer to the Oilex Announcement of 16 April 2015 for details of Oilex's independently classified Reserves and Resource base which includes 2P gas Reserves of 206 Bcf and 2P oil Reserves of 8 MMbbls.

Since the introduction of gas from the Cambay Field into the local low pressure network, the average daily demand has increased by 28% to approximately 320Mscfd. In light of the increasing local gas demand, the Joint Venture is considering some operational efficiencies to better service the market and encourage further demand growth.

Managing Director of Oilex, Ron Miller, said;

"Ongoing gas production from Cambay-73 and increasing demand for domestically produced and competitively priced gas continues to support Oilex's objective of achieving positive cash flow from operations in India during 2015. The availability performance of the Cambay-73 facilities to meet daily demand is particularly pleasing. Oilex remains focused and today's news demonstrates that it continues to deliver on its plan of production, near-term cash flow and reserves growth to create a sustainable business in the midst of a robust and supportive domestic market."

Shareholder and Investor Conference Call

To discuss the recently announced Capital Raise transaction and Oilex's exciting upcoming work programme, the Company is pleased to invite investors to a conference call with the Managing Director and Chief Financial Officer at 4pm (WST) / 9am (BST) on 23 July 2015. Details can be obtained from

· Maura Hinds at oilex@oilex.com.au / +61 8 9485 3200 in Australia or

· Alex Aleksandrov at alex.aleksandrov@vigocomms.com / +44 207 016 9598 in the UK.

For and on behalf of Oilex Ltd

Ron Miller

Managing Director

http://www.moneyam.com/action/news/showArticle?id=5079279

Oilex is meeting rising demand for Cambay’s gas
Jamie Ashcroft
08:15 21 Jul 2015

Cambay benefits from rising demand and premium gas prices


Oilex aims to be cash flow positive from operations in India later this year


Oilex (LON:OEX) has told investors that the availability of the Cambay-73 well, which began production recently, continues to meet daily demand from gas customers locally in India’s Gujarat State.

The company revealed that Cambay-73 averaged 54 barrels oil equivalent per day in the 22 days since production began in June. It has been operationally available 100% of the time.

It was also noted that the well’s condensate-to-gas ratio (CGR) equated to 58 barrels per million cubic feet, which Oilex says is about 26% better than the assumptions in a prior independent assessment of the project.

Should this level be maintained over longer period of time, and be replicated in other well, the company believes it may have a positive impact on the condensate and light oil volumes included in the field’s reserves; which currently amount to 206bn cubic feet of gas and 8mln barrels of oil.

Local economics, and strong gas demand, mean the company achieves a premium price compared to international markets.

Oilex says demand for gas continues to grow in the region, and since Cambay came online it has risen by about 28% to 320,000 cubic feet per day.

"Ongoing gas production from Cambay-73 and increasing demand for domestically produced and competitively priced gas continues to support Oilex's objective of achieving positive cash flow from operations in India during 2015,” said chief executive Ron Miller.

“The availability performance of the Cambay-73 facilities to meet daily demand is particularly pleasing.

“Oilex remains focused and today's news demonstrates that it continues to deliver on its plan of production, near-term cash flow and reserves growth to create a sustainable business in the midst of a robust and supportive domestic market."

Oilex’s US$23mln will kick start Indian exploration

Oilex is tipped to deliver substantial volume and cash flow growth over the next five to six years.

Stewart Dalby
10:34 27 Jul 2015

These are exciting times for Oilex (LON:OEX). The company’s recently announced a major US$23mln recapitalisation should be a significant step forward in a game-changing process for the ASX and AIM-quoted junior.

Oilex’s chief executive officer (CEO) Ron Miller said: “Proceeds of the share sale will be used to fund a ‘transformational’ work programme over the course of 2015 and 2016.”

London broker Westhouse’s oil and gas analyst Mark Henderson said that following the fund-raise and the earlier ‘proof of concept’ well success at the Cambay field, he now expects Oilex will deliver substantial volume and cash flow growth over the next five to six years.

He predicts Oilex can grow gross production from a standing start to 60,000 barrels of oil equivalent within this timeframe.

The proof of concept well Henderson refers to is the Cambay-77H well on the Cambay field in Gujarat state in energy-starved India.

This well came good last year. Cambay-77H was spudded in March 2014 and production testing was successfully completed late in 2014 with 43mln standard cubic feet of gas (mmscf) and 3,372 barrels of oil (bbls) sold to a local refinery.

It was a breakthrough well because it was unconventional and proved for the first time that fracking (fracture stimulation) and horizontal drilling could work in India.

This success followed a major drilling disappointment in 2012 that cast Oilex into a wilderness of a share price collapse and shareholder disenchantment.

The latest fund-raise involves an initial US$1.4mln (A$1.8mln) share placing to sophisticated investors that will provide a quick injection of capital.

A subsequent US$16.3mln (A$21.mln) transaction will see ASX-listed Zeta Resources take a 19.6% stake in an enlarged Oilex. Meanwhile existing investors also have the opportunity to subscribe for new shares via an underwritten US$5.3mln (A$7mln) rights issue.

New shares sold via the share placings are being priced at 2p (or 4.1 cents) whereas the rights issue works out a little bit more at 2.04p at a share.

The Cambay field was discovered and developed initially by Oil and Natural Gas Corporation of (ONGC) of India in 1957-58 and enjoyed modest production success before being shut-in in 1991.

Oilex became involved with Cambay in 2005 and by 2007 it held a 45% in the field stake and was the operator in a joint venture (JV) with the Gujarat State Petroleum Corporation (GSPC) which held the remaining 55%.

Oilex and GSPC completed five vertical wells and two vertical fracture programmes on the project.

Again, there was only modest production success, mostly from the first well, Cambay-73. This well’s target was the shallow Miocene basal sandstone.

But Oilex’s CEO at the time, Bruce McCarthy, believed the deeper tight Eocene zones could, with the aid of horizontal drilling and multi-stage fracking techniques that have revolutionised shale drilling in North America, yield many more barrels than were forthcoming from Cambay-73.

After indifferent results from the Cambay 74 and Cambay 75 wells the group decided to go for its first ‘proof of concept’ well and, in fact, the first horizontally drilled and fracked well in India, with the Cambay- 76H well.

McCarthy was ahead of his time. The well threw up a number of complications. Technical problems led to the well being suspended in May 2012. There was much talk that it was all very well fracking in the flat plains of Texas in the US but clearly more complicated in India. American geologists seemed to have a definite advantage in knowing about how fracking could work.

Miller, who is an American, became a director of Oilex in 2009 and eventually CEO in 2013. He determined he would bring some American fracking expertise to Oilex’s operations and the success of Cambay-77H was the result.

So, what are the next steps? A recent independent reserves report estimated that the Cambay project had some 43.3mln barrels of oil equivalent (mmboe) which could be classified as proven and probable (2P) as well as about 177mmboe contingent resources.

The joint venture partners are fully funded to get cracking on their work programme, which includes two firm new wells, two contingent wells and five work-over wells.

Andrew Sinclair, the oil and gas analyst at PAC Partners, says in a recent note that now that processing facilities at Cambay-73 have been completed the vertically drilled well will be put back into production at a rate of between 50 to 60 barrels of oil equivalent per day (boepd).

Also in the current quarter the Cambay-77H well will be tied-in to the low pressure gas pipeline. The work-over of existing wells will start in the fourth quarter (Q4) 2015.

The first of the new wells Cambay -78H will be spudded (the start of drilling) in Q4 2015 as will the second new well Cambay Cambay-80H.

All this should mean Oilex exits 2015 with production of 400 boepd, before output really starts ramping up in late 2016. Sinclair agrees that Oilex should be producing a multi-thousand barrels of oil equivalent within the next few years but, unlike Henderson at Westhouse, feels output over the period will amount to 90,000 boe rather than 60,000 boe (360mmcf gas).

Most of this will be gas, which is handy for cash flow as there is a strong local market. India is the world’s fourth largest energy consumer. Gujarat is an industrialised state with existing energy infrastructure and strong local demand for gas.

A gas deficit (India imports 30% of its gas) ensures that OiIex will achieve a price premium for the gas it delivers at around US$8 + per million British thermal units (mmBtu) versus a government pricing policy of US$5 per mmBtu.

The cost of imported liquefied natural gas (LNG) is US$8.50 to US$10 per mmBtu, effectively providing a floor price for domestic gas sales.

PAC says Oilex’s shares are very high risk, but has set a risked net asset value (NAV) based target price of A$0.09 (4.28p). This is more than double the current share price of A$0.04 (1.90p).

28 July 2015

Dear Shareholder,

Capital Funding Program



I am writing to you about your Company's announcement on 7 July 2015, regarding a capital funding program which is currently in progress. You should have recently received a Notice of Meeting for a General Meeting of Oilex shareholders to be held on 12 August 2015, as well as an Offer Booklet pertaining to a fully underwritten rights issue for eligible shareholders. The General Meeting and the rights issue are components of a A$30 million capital funding program by Oilex to fund its 2015/16 work programme in India, minimum work commitments in the Canning Basin and working capital. This growth opportunity is underpinned by the recent Independent Reserve Classification of gross proven plus probable (2P) reserves of 206 Bcf of natural gas and 8 million bbls of condensate (light oil) in the Cambay Field, India.


The major part of the fundraising requires your voting support. The Board believes that the resolutions to be proposed at the General Meeting are in the best interests of the Company and Shareholders as a whole. Accordingly, the Directors unanimously recommend that all Shareholders vote in favour of the resolutions, as they intend to do so, in respect of their own beneficial shareholdings. The purpose of this letter is asking you to vote in favour of the resolutions proposed by your Board as set out in the Notice of Meeting.

It is important to understand why this transaction is very much in your interest and the interests of all stakeholders as Oilex progresses its transformation into a sustainable business based upon production, cash flow and reserves growth at the Cambay Project in Gujarat State, India. Your Board has reviewed a range of different funding structures and opportunities before selecting a structure of a two Tranche Placement and fully underwritten renounceable one (1) for four (4) rights issue for existing Shareholders to secure the requisite funding package totalling A$30 million. At the time of writing this letter, Tranche 1 is complete and the fully underwritten rights issue is in progress and is expected to be completed before the General Meeting.

Oilex has recently announced its first local market gas sales from our Cambay Field in India, a significant milestone for the business towards growing revenue and essential to being operationally cash flow positive in India, a key corporate milestone for 2015. In addition to Cambay-73, other gas production wells coming online during 2015 will include Cambay-77H and Bhandut-3. India has a fast growing economy where natural gas attracts a premium price and the demand is strong, which should allow Oilex to quickly expand its business.


The fundraising will facilitate the following approved work programmes:

· Cambay Field

o Drilling and completion of two horizontal multistage production wells (Cambay-78H and Cambay-80H)

o Workover operations on five existing wells

o Engineering studies for, amongst other things, a larger development of 50MMscfd gas production on plateau

· Bhandut Field

o Gas production facilities to support gas sales from Bhandut-3 well

· Canning Basin - Wallal Graben Play Fairway

o Technical work to develop a leads and prospects portfolio to facilitate a farm-out

It is anticipated that the successful delivery of the Cambay Field 2015/16 work programme will be a transformational event for Oilex as we deliver significantly enhanced commercialisation of our hydrocarbon reserves.


By voting to support the fundraising process either by Proxy or in person at the General Meeting on 12 August, you will ensure that your Company has the necessary funds available to undertake its growth plans and create sustainable value for all Shareholders and Stakeholders.

Thank you for your ongoing support and we look forward to growing our Company together.

For and on behalf of Oilex Ltd

Ron Miller

Managing Director

http://www.moneyam.com/action/news/showArticle?id=5083450

Oilex Urges Shareholders To Vote In Favour Of Large Fundraising
Alliance News 28 July, 2015

LONDON (Alliance News) - Oilex Ltd Tuesday said it has written to shareholders ahead of a general meeting to be held in August urging them to vote in favour of the company's proposed fundraising to allow it to progress its work programme in India.

The India-focused company has already completed the issue of 45.0 million new shares in the company at AUD0.041 per share to "sophisticated investors" to raise a total of AUD1.8 million, which did not require shareholder approval.

Shareholders are voting on the company's larger capital raising announced earlier in July, which will comprise of a placing to raise another AUD21.2 million and a rights issue for a further AUD7.0 million to reach the ultimate AUD30 million target.

That second placing will consist of a further 287.3 million new shares at AUD0.041 per share and another 225.5 million new shares at AUD0.0418 per share to raise a combined AUD21.2 million, roughly USD16.3 million.

Under that second tranche, the 225.5 million new shares at AUD0.0418 will be issued to Zeta Resources Ltd. Zeta is paying the higher price in consideration of a deferred settlement date for those shares of up to five months from the general meeting where shareholders will vote on the second tranche.

On completion of the capital raising, if approved, Zeta will hold approximately 19.6% of the expanded shares in issue. Zeta is an active, resources focused holding and development company listed on the ASX, and is 85% owned by Utilico Investments Ltd.

The company also will separately undertaking a renounceable rights issue to all eligible shareholders to enable shareholders to have the opportunity to participate in the capital raising process at the same price as the first tranche at AUD0.041 per share.

That rights issue is fully underwritten and expected to raise a further total of AUD7.0 million, or USD5.3 million, via the issue of 169.5 million new shares on the basis of 1 new share at AUD0.041 for every 4 shares currently held by shareholders.

The total AUD30 million capital raising will be used for the company's work programme at the Cambay oilfield in India during 2015 and 2016. The 2015/16 work programme in India includes two horizontal multistage fracture stimulated production wells and five workovers of legacy wells.

On Tuesday, Oilex said it recommends all shareholders vote in favour of the proposals.

"The major part of the fundraising requires your voting support. The board believes that the resolutions to be proposed at the general meeting are in the best interests of the company and Shareholders as a whole. Accordingly, the directors unanimously recommend that all Shareholders vote in favour of the resolutions," said Oilex.

"By voting to support the fundraising process either by Proxy or in person at the general meeting on August 12, you will ensure that your company has the necessary funds available to undertake its growth plans and create sustainable value for all Shareholders and Stakeholders," it added.

Oilex said it was "important to understand" why the company is progressing with its proposals and said it was integral for the company to transform into a sustainable business from its Cambay project. Oilex said it reviewed "a range of different funding structures and opportunities" before it committed to its current plans.

The general meeting will be held on August 12.

29 July 2015
ASX: OEX
AIM: OEX

Presentation to DUG Australia

Oilex Ltd advises that a copy of an Oilex Presentation dated July 2015 can be viewed by clicking on the below link.

http://www.rns-pdf.londonstockexchange.com/rns/3753U_-2015-7-29.pdf



http://www.moneyam.com/action/news/showArticle?id=5084341

Just catching up............Link at BOP for full announcement:

RNS Number : 6766U

Oilex Ltd

31 July 2015

Highlights

CAMBAY PSC, ONSHORE GUJARAT, INDIA

· Maiden Reserves achieved for the Cambay Field

o Gross 2P Reserves of 206 Bcf gas and 8.0 MMbbls of condensate (C5+) in the Y zone
(Oilex net working interest 93 Bcf gas and 3.6 MMbbls of C5+)

o Gross 3P Reserves of 377 Bcf gas and 17.3 MMbbls of condensate (C5+) in the Y zone
(Oilex net working interest 170 Bcf gas and 7.8 MMbbls of C5+)

o Gross 2C Unrisked Contingent Resources of 720 Bcf gas and 52.8 MMbbls of C5+ in the X and Y zones
(Oilex net working interest 324 Bcf gas and 23.8 MMbbls of C5+)

· 2P Reserves validate Oilex's programme for commercial development of the Cambay Field

· Establishment of Reserves provides a strong foundation for the expedited development of the Cambay Field to achieve key corporate objectives of increasing reserves, production and cashflow

· Cambay-73 production facilities completed, with gas sales commenced in June 2015 and Cambay-77H production expected to commence during August 2015

· Targeting cash flow positive operations in India by the end of 2015

BHANDUT FIELD, ONSHORE GUJARAT, INDIA

· During the quarter scope of works was completed and the tendering process was initiated and completed for the construction of the gas production facility. Bids received have been technically and commercially evaluated. Bhandut-3 production anticipated to commence in September 2015.

CORPORATE

· Subsequent to the end of the quarter, Oilex announced a two tranche placement and underwritten rights issue to raise US$23 million (A$30 million) (Capital Raising)

§ First tranche placement completed to raise US$1.4 million (A$1.8 million)

§ Fully underwritten rights issue to raise US$5.3 million (A$7.0 million), in progress

§ Second tranche placement completed to raise US$16.3 million (A$21.2 million), subject to shareholder approval at a General Meeting to be held on 12 August 2015

· Upon successful completion of the Capital Raising, Oilex will be fully funded to deliver the Cambay Field 2015/16 work programme, a transformational event for the Company

http://www.moneyam.com/action/news/showArticle?id=5086400

31 July 2015

ASX: OEX
AIM: OEX

Notification of Rights Issue Shortfall



Oilex Ltd advises that the recent 1 for 4 renounceable Rights Issue closed on 28 July 2015. The results of the Rights Issue is as follows:


Total number of Shares under the Offer...............169,476,510
Total number of Shares applied for.......................16,235,098
Shortfall number of Shares................................153,241,412


The shortfall for the Offer is $6,282,898 and the shares will be allocated in accordance with the terms outlined in the Offer Booklet.

Yours faithfully,

Chris Bath

Chief Financial Officer and Company Secretary

http://www.moneyam.com/action/news/showArticle?id=5086578

3 August 2015
ASX: OEX
AIM: OEX

Update on Underwritten Rights Issue



Oilex Ltd (Oilex or the Company) is pleased to provide an update on the result of the previously announced Underwritten Rights Issue, and announces changes to the second tranche of the previously announced Placing.

As announced on 31 July 2015, 16,235,098 Rights Issue Shares have been taken up by shareholders, resulting in a shortfall in the Rights Issue of 153,241,412 shares. Under the terms of the underwriting agreement in respect of the Rights Issue, and as disclosed in the Company's announcement of 17 July 2015 (paragraph 5.7 of the Offer Booklet), as the share price of Oilex has, during the offer period, fallen below the A$0.041 Rights Issue offer price, a potential termination event has been triggered whereby the underwriter has the right to terminate the underwriting agreement.

In light of this development, the Company has taken steps to seek alternative participants for part of the Rights Issue shortfall. Accordingly, Zeta Resources Ltd (Zeta) has agreed to take up 62,011,067 shares by way of placement out of the Rights Issue shortfall at the Offer Price of A$0.041, for a total consideration of approximately A$2.55 million (£1.24 million, US$1.95 million) and will receive a fee of 6% that would otherwise have been paid to the underwriter. On this basis, the underwriter has agreed not to invoke its termination right under the underwriting agreement, and the underwriter (or its nominees) will take up the remaining Rights Issue shortfall.

As announced on 7 and 8 July 2015, Zeta's participation in the second tranche of the Placing will be settled in 2 tranches. As a result of Zeta's take up of Rights Issue shortfall shares as outlined above, and in order that it and its associates do not breach relevant Australian takeovers laws (under which, broadly, a person may not acquire shares if that would cause their and their associates' voting power to exceed 20%), Zeta has agreed that its second tranche investment will now proceed as follows (subject to approval of the resolutions proposed at the Company's General Meeting convened for 12 August 2015):

· 50,000,000 new ordinary shares will be placed with Zeta at a price of A$0.041 (2 pence) per share, to be settled immediately following the General Meeting;

· a further 124,019,608 (previously 225,490,196) new ordinary shares will be placed with Zeta at a price of A$0.0418 (2.04 pence) per share, to be settled by no later than 12 November 2015. These shares will be issued out of the authorisation to be sought at the General Meeting (covering 225,490,196 shares); and

· in lieu of the remaining shares originally envisaged to be issued to Zeta, (being 101,470,588 shares) the Company will issue A$4,243,500 (approximately £2.07 million) of 20 year, zero coupon unsecured convertible loan notes to Zeta, which will be convertible into shares at Zeta's option at any time, subject to compliance with Australian law, at a conversion price of A$0.0418 per share. The issue of these convertible notes will occur contemporaneously with the issue to Zeta of the 124,019,608 new ordinary shares referred to above. These convertible notes will be issued pursuant to the Company's placement capacity under Listing Rule 7.1 (as refreshed at the General Meeting). To the extent that the convertible notes are not converted, they will be redeemable on 30 June 2035 or such later date as agreed with Zeta. The Zeta Convertible Notes will have the right to participate in rights issues and other pro-rata issues on an "as converted" basis, subject to compliance with law.

Upon completion of the Rights Issue and Tranche 2 placing, Zeta and associates will hold approximately 275 million ordinary shares, representing approximately 19.6% of the Company's enlarged share capital (on an undiluted basis). Zeta will also hold A$4,243,500 of unsecured convertible notes, convertible into 101,470,588 ordinary shares.

The remaining portion of the second tranche of the Placing will proceed as previously announced and the Placing timetable remains unchanged. Given their relevance to the matters to be considered at the General Meeting, shareholders will be notified of the above changes by letter in the coming days.


Managing Director of Oilex, Ron Miller, said;

"The financial support by Zeta not only in the second tranche, but now the Rights Issue shortfall is very pleasing and demonstrates their commitment to Oilex's business plan. This plan is focussed on production and cashflow from the recently independently assessed Reserves at our Cambay Field in India. We are delighted that the Rights Issue will successfully complete, leading to a General Meeting on 12 August 2015 where shareholders will have the opportunity to approve the second tranche of the Placing."

Yours faithfully,

Ron Miller
Managing Director

http://www.moneyam.com/action/news/showArticle?id=5087570

04 August 2015

Dear Shareholder,

Capital Funding Program and General Meeting



I am writing to you with an update regarding your Company's capital funding program announced on 7 and 8 July 2015 and to give you some further updated information relevant to the resolutions to be voted on at the General Meeting of Oilex shareholders to be held on 12 August 2015 (General Meeting), as contained in the Notice of Meeting dated 7 July 2015.

The Company made an announcement on 3 August 2015 which contains details of the changes to the capital funding program. Broadly, Zeta Resources Limited (Zeta) has agreed to take up 62,011,067 shares by way of a placement out of the shortfall of the Company's recent rights issue and will receive a fee of 6% that would otherwise have been paid to the underwriter. On this basis, the rights issue is able to proceed to completion (with the remainder of the rights issue shortfall to be taken up by the underwriter or its nominees).

Full announcement via link below:

http://www.moneyam.com/action/news/showArticle?id=5088434

05 August 2015
AIM: OEX

Issue of Shares under Rights Issue and Expiry of Unlisted Options



Oilex Ltd (Oilex) has today issued 16,235,098 ordinary shares at an issue price of $0.041 per share following receipt of acceptances in accordance with the terms of the Rights Issue.

The Company advises that application has also been made for the admission to trading on AIM and it expects the shares to be admitted to trading on AIM on 11 August 2015.



Expiry of Unlisted Options

Oilex also advises the cancellation of 75,000 employee options that have expired.

http://www.moneyam.com/action/news/showArticle?id=5089334

06 August 2015
AIM: OEX

Issue of Shares under Rights Issue


Oilex Ltd has today issued 153,241,467 ordinary shares at an issue price of $0.041 per share following placement of the Rights Issue shortfall.

The Company advises that application has also been made for the admission to trading on AIM and it expects the shares to be admitted to trading on AIM on 12 August 2015.

For and on behalf of Oilex Ltd

http://www.moneyam.com/action/news/showArticle?id=5090086

Appendix 3Y - J Auld

Appendix 3Y - M Cozijn

Appendix 3Y - R Miller

12 August 2015
ASX: OEX
AIM: OEX

Notice of change of interests to substantial shareholder

Please refer to the attached Form 604.

http://www.rns-pdf.londonstockexchange.com/rns/7983V_-2015-8-12.pdf

12 August 2015
ASX: OEX
AIM: OEX

Results of General Meeting


Oilex Ltd (ASX/AIM: OEX) is pleased to advise the results of its General Meeting held today. All resolutions which were put to Shareholders were passed unanimously on a show of hands.

Proxy Voting
In accordance with Section 251AA of the Corporations Act, the proxy votes and number of shares voted are set out in the attached report from Oilex's share registry, Link Market Services.

http://www.rns-pdf.londonstockexchange.com/rns/7785V_-2015-8-12.pdf

Managing Director of Oilex, Ron Miller, said;

"We are delighted that all resolutions have been passed at today's General Meeting and the strong shareholder support for the outcome. We are pleased to welcome all new shareholders that will participate in the Tranche 2 placement, together with Zeta Resources Limited as a new cornerstone investor. The support of new and existing shareholders who recognise the opportunity to transform Oilex into a company having strong production and cashflow is encouraging. We look forward to completing Tranche 2 and focusing on delivery of the 2015/16 work programme."

For and on behalf of Oilex Ltd

Chris Bath

Chief Financial Officer and Company Secretary

http://www.moneyam.com/action/news/showArticle?id=5093205

Westhouse analyst Henderson picks out small cap oil favourites


12:27 11 Aug 2015


Mark Henderson, director of oil & gas at Westhouse Securities, discusses the outlook for oil prices and why investors should look at junior stocks for value.

Speaking to Proactive Investors, the analyst runs through his top small cap oil picks including Lekoil (LON:LEK), Andes Energia(LON:AEN), Ithaca Energy (LON:IAE) and Oilex (LON:OEX).

18 August 2015
ASX: OEX
AIM: OEX


Section 708A(5)(e) Notice - Issue of Shares under Second Tranche Placement and Cancellation of Unlisted Options

Oilex has today issued 287,303,319 ordinary shares at an issue price of $0.041 per share under the second tranche of the placement announced on 8 July 2015.


Oilex gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) (Act) that:

1. Oilex issued the Shares without disclosure to investors under Part 6D.2 of the Act;

2 as at the date of this notice, Oilex has complied with:


(a) the provisions of Chapter 2M of the Act as they apply to Oilex; and

(b) section 674 of the Act; and


3 as at the date of this notice, there is no information that is 'excluded information' within the meaning of sections 708A(7) and 708A(8) of the Act.


The Company advises that application has also been made for the admission to trading on AIM and it expects the shares to be admitted to trading on AIM on 24 August 2015.


Cancellation of Unlisted Options

Oilex also advises that it has cancelled 600,000 employee options due to cessation of employment.

http://www.moneyam.com/action/news/showArticle?id=5096516

19 August 2015
ASX: OEX
AIM: OEX

Expiry of Listed Options

Oilex Ltd notifies holders of the Company's 188,255,171 Listed Options (OEXO) (Options) that the Options will expire at 5:00pm WST on 7 September 2015 (Expiry Date).

The following information is provided as contemplated by ASX Listing Rule 6.24:

· each Option entitles the Option holder to apply for one fully paid ordinary share in the capital of the Company

· the exercise price for each Option is $0.15 per Option

· if an option is exercised, payment would be required prior to 7 September 2015

· if the options are not exercised prior to the Expiry Date, those Options will lapse and there is no further right or entitlement to those Options

· official quotation of the Options will cease on 31 August 2015, being five business days before the Expiry Date

· the last available closing price of the listed shares in the Company prior to the date of this announcement was $0.038

· the highest and lowest market sale price of the Company's shares on ASX during the 3 months immediately preceding the date of this announcement and the respective dates of those sales were:

Highest: $0.07 on 26 June 2015

Lowest: $0.035 on 12 August 2015

· the exercise of the Options is not underwritten.

http://www.moneyam.com/action/news/showArticle?id=5097237

20 August 2015
ASX: OEX
AIM: OEX

Notification of Major Interest in Shares


Oilex Ltd advises that it has received the attached notice from Standard Life Investments (Holdings) Limited advising that it now holds 8.62% of the ordinary capital of Oilex Ltd as at 18 August 2015.

For and on behalf of Oilex Ltd

http://www.moneyam.com/action/news/showArticle?id=5097825

Notice of initial substantial shareholder-Standard life

Notice of change of interests to substantial shareholder-Magna Energy

Just catching up:

25 August 2015
ASX: OEX
AIM: OEX

Operations Update

· Cambay-73 is on continuous production with stabilised draw down

· Temporary pipeline from Cambay-77H pad to Cambay-73 production facility completed and operational

· 3 Cambay legacy wells connected to the temporary pipeline and supplying gas on an intermittent basis

· Bhandut-3 production facility construction has commenced and its gas Contingent Resource increased to ~425MMscf

· Techno-commercial evaluation for 13 of 14 tenders for the Cambay 2015/2016 drilling campaign underway

· Field Development Plan for 20Bcf of the 1P Reserves is complete and under review

Full update from link below:

http://www.moneyam.com/action/news/showArticle?id=5100140

2 September 2015
ASX: OEX
AIM: OEX

Good Oil Conference Presentation

Oilex Ltd advises that a copy of an Oilex Presentation dated September 2015 can be viewed by clicking on the below link.

http://www.rns-pdf.londonstockexchange.com/rns/8018X_-2015-9-2.pdf

8 September 2015
ASX: OEX
AIM: OEX

Expiry of Listed Options

Oilex Ltd wishes to advise that the following listed options have expired unexercised:

ASX Code: OEXO

Number: 188,248,858

Exercise Price: $0.15

Expiry Date: 7 September 2015

http://www.moneyam.com/action/news/showArticle?id=5108754

Change of Director's Interest Notice


Name of Director-Ronald Lawrence Miller

http://www.moneyam.com/action/news/showArticle?id=5109718

Change of Director's Interest Notice


Name of Director-Max Dirk Jan Cozijn

http://www.moneyam.com/action/news/showArticle?id=5109719

Key to Disclosures
Corporate Governance Council Principles and Recommendations

https://www.oilex.com.au/docs/default-source/corporate-governance/charters/150923-corporate-governance-statement.pdf

http://www.moneyam.com/action/news/showArticle?id=5119260

Oilex Loss Widens After Booking Impairments Against Indian Assets
Joshua Warner
24 September, 2015 | 11:15AM

LONDON (Alliance News) - Oilex Ltd Thursday said its pretax loss significantly widened in the last financial year after the company booked a large amount of impairments against its exploration assets in India.

The Indian gas producer is focused on carrying out its work programme that will start in the second half and stretch into 2016 as it looks to turn its operations cashflow positive before the end of 2015.

The company reported a USD17.4 million pretax loss in the year ended June 30, substantially widening from the USD4.6 million loss reported a year earlier. The company's small amount of revenue came in at USD290,294, slightly higher than USD250,620 last year.

The main cause of the wider loss was the company booking exploration activities amounting to USD13.2 million during the year, of which USD11.9 million was recorded as impairments, compared to only USD1.7 million in the last financial year. Administrative expenses, share-based payments and other expenses also experienced small lifts year-on-year.

Oilex is focused on executing its 2015 to 2016 work programme on the Cambay and Bhandut fields to deliver production growth and cash flow, underpinned by the Cambay field's gross 2P Reserves of 206.0 billion cubic feet of gas plus 8.0 million barrels of liquids.

That work programme will be comprised of the drilling of two wells, Cambay-77H and Bhandut-3, plus a further two dependent on the success of the first two wells. Tenders for the programme are currently being analysed and the first well is expected to be drilled before the end of 2015.

The first and flagship well, Cambay-73, began producing in June.

Also forming part of the approved work programme are 5 well work-overs to boost oil and possibly gas production from existing wells. Oilex said the work-overs are "integral" to the company making its operation cashflow positive, excluding exploration and field development costs, in 2015.

The Cambay field is located at the hub of India's large gas distribution network close to the existing gas pipeline grid in the State of Gujarat. Oilex will use an existing pipeline which already has spare capacity to facilitate its production growth.

"It is anticipated that while the global energy markets are experiencing significant price constraints, with our unique position to supply onshore gas close to infrastructure in Gujarat state, the growing demand for energy should ensure that domestic prices will be insulated from external price pressures," said Chairman Max Cozijn.

From yesterday:

Financial Report for year ended 30 June 2015

1 October 2015
ASX: OEX
AIM: OEX

Annual General Meeting

Oilex Ltd advises that its Annual General Meeting will be held at The Celtic Club Inc., 48 Ord Street, West Perth, Western Australia on Wednesday 25 November 2015 at 10am.

http://www.moneyam.com/action/news/showArticle?id=5124192

From the OEX website:

Oct 01, 2015

Shares Magazine company profile - Tight focus rewarded at Oilex

http://www.oilex.com.au/docs/default-source/test/150925-shares-magazine-oilex-company-profile.pdf?sfvrsn=0

Notice of Annual General Meeting

Wednesday, 25 November 2015 at 10:00am (WST) at The Celtic Club First Floor, 48 Ord Street, West Perth Western Australia

Full details from link below:

http://www.moneyam.com/action/news/showArticle?id=5132318

21 October 2015
ASX: OEX
AIM: OEX


"India Operations Update

· Workover campaign has commenced with mobilisation of rig to Cambay-19z

· Bhandut-3 production facility construction is ~ 40% complete

· Evaluation of tenders for the Cambay 2015/2016 drilling campaign nearly complete and final approvals to award contracts being sought

Oilex Ltd is pleased to provide the following Operations Update:

Cambay Field

The workover campaign has started with the mobilisation of the rig to Cambay-19z, an oil producer from the Eocene (EP IV) formation. Cambay-19z is located approximately 1.4 km to the west of Cambay-77H. The workover includes removal and cleaning of the production tubing and repositioning the downhole pump to improve well deliverability. Subsequent to Cambay-19z, the rig will move to 1 of 4 candidates;

· Cambay-20, an oil producer currently on self-flow that requires a downhole pump to improve deliverability

· Cambay-70 located adjacent to Cambay-77H pad, a gas and oil producer from Eocene/MBS formation

· Cambay-60 - tested gas and condensate from OSII formation but never put into production

· Cambay-77H - to remove the frac tree, install production tubing and tree."

************************************************

Bhandut Field

Field construction continues at Bhandut and is 40% complete (refer to attached photographs) and expected to be completed during November 2015. Gas transportation is the responsibility of the buyer(s), which is currently targeted to be in place prior to end December. Bhandut-3 should be ready to commence production prior to the end of December 2015 subject to availability of the interconnecting gas transportation infrastructure. An independent reserve assessment has commenced to support Oilex's recently upgraded internal estimate and an announcement of the results will be made when they are final. Bandhut-3 is expected to commence plateau production at 100 - 130boepd.

************************************************

Managing Director of Oilex, Ron Miller, said;

"The commencement of field activities to boost production through the workover campaign is another milestone towards our goal of being operationally cash flow positive in India (exclusive of workover and drilling capex) before the end of this calendar year. In addition, the approvals tendering and cost recovery process is nearing completion for the 2015/16 drilling campaign. We are looking forward to Bhandut recommencing production and the final independent reserves report being completed. The gas market in India remains robust driven by market fundamentals and it is important to capture the commercial benefit of lower contractor service prices currently prevalent in the market."

LINK BELOW FOR FULL ANNOUNCEMENT:

http://www.moneyam.com/action/news/showArticle?id=5136475

Oilex kicks off workover programme on Indian project
Daniel Cancian | Sharecast | 21 Oct, 2015 12:39 - Updated: 15:54

Indian-focused gas producer Oilex has started a workover programme on its Cambay project ahead of a planned relocation of the rig and as part of its efforts to become cashflow-positive in India in 2015.

The group said the workover campaign on its Indian project, aimed at removing and cleaning the production tubing, has begun with the mobilisation of a rig to the producing Cambay-19z well, the first of four workover wells to be deployed in different locations across the site.

Oilex expects the workover programme to be completed before it drills the next two wells on site, Cambay-78H and Cambay-80H, adding that while production remains limited whilst the group carries out study on the reservoir, the Cambay-73 well is continuing to produce gas.

Upon completion of workover, the Cambay-77 well will be connected to the pipeline currently serving the Cambay-73.

"The commencement of field activities to boost production through the workover campaign is another milestone towards our goal of being operationally cash flow positive in India before the end of this calendar year,” the group said.

Oilex added the approvals tendering and cost recovery process was nearing completion for the 2015/16 drilling campaign.

Meanwhile, the gas producer said field construction at the Bhanut field was roughly 40% completed and was expected to be completed in November, when it is expected to produce 100-130 barrels of oil equivalent per day.

“The gas market in India remains robust driven by market fundamentals and it is important to capture the commercial benefit of lower contractor service prices currently prevalent in the market,” the company said.

Oilex on track to be cash flow positive by year end, says MD
22nd October 2015

Ron Miller, managing director of Oilex (LON:OEX), says the company remains on courseto be operationally cash flow positive in India by the end of 2015.

Key to this is a work-over campaign at its Cambay project in India, which commenced this week.

A drilling rig has been moved to Cambay-19z, which is an oil producer from the Eocene (EP IV) formation, located around 1.4 kilometres to the west of Cambay-77H.

The work-over includes the removal and cleaning of the production tubing and repositioning the down-hole pump to improve what Oilex called “well deliverability”.

Quarterly Report 30 September 2015
30 October 2015

HIGHLIGHTS

CAMBAY PSC, ONSHORE GUJARAT, INDIA

» Preparation of the five well workover campaign largely completed during the quarter

» Cambay-73 is on continuous production with stabilised draw down

» Temporary pipeline from Cambay-77H pad to Cambay-73 production facility completed and operational

» Three Cambay legacy wells connected to the temporary pipeline and supplying gas on an intermittent basis

» Techno-commercial evaluation for 13 of 14 tenders for the Cambay 2015/2016 drilling campaign nearly complete



BHANDUT FIELD, ONSHORE GUJARAT, INDIA

» During the quarter construction of the gas production facility commenced, with construction expected to be completed in November 2015

» Bhandut-3 production test results have resulted in an upgrade to previous internal estimate of 2C Contingent Resource to ~425MMscf (~170MMscf Oilex net)

CORPORATE

» During the quarter, Oilex announced a two tranche placement and underwritten rights issue to raise $30 million (Capital Raising)

» First tranche placement completed raising $1.8 million

» Fully underwritten rights issue completed raising $7.0 million

» Second tranche placement completed raising $11.8 million

» Issue of Zeta Deferred Shares and convertible notes to raise $9.4 million, approved by Shareholders at a General Meeting on 12 August 2015

For full Report see link below:

http://www.moneyam.com/action/news/showArticle?id=5142444

Oilex says prep for five-well workover largely complete
Jamie Ashcroft
30 Oct 2015

The company updated investors of activities at its gas operations in India



Oilex (LON:OEX) told investors that preparations for a five-well workover programme at the Cambay gas field were, by the end of the third quarter, largely complete.

It also highlighted, in the quarterly activity report, that temporary pipeline to connect the Cambay 77-H well, and three other wells, was completed. The pipe is operational.

The company also said the technical evaluation of thirteen of fourteen tenders for a planned new drilling programme was nearly complete.

During the period the Cambay-73 well was on continuous production. Presently output from the one well is relatively modest, though volumes will rise as more wells are brought on.

It also highlighted that construction work continued at the Bhandut field, and the project should be complete in November. Production testing during the period enabled an upgrade to Bhandut’s contingent resources, to 425mln cubic feet of gas.

10 November 2015
ASX Announcement
ASX: OEX
AIM: OEX

India Workover Update

· Cambay-19z workover successfully completed

· Workover rig relocated to Cambay-20 and workover has commenced

· Preparation for workover of Cambay-77H has commenced

· Reviewing other potential workover candidates

Oilex Ltd is pleased to provide the following Workover Update:

Cambay-19z

Oilex successfully completed the Cambay-19z workover on budget. The workover rig was at location for 15 days. Currently 240 bbls of workover brine is being pumped from the well at the rate of 40bbls per day after which oil production should commence. Adjustments to the pumping rate will be made to optimise the oil production after recovery of the workover brine. Cambay-19z is an oil producer from the Eocene (EP IV) formation and located approximately 1.4 km to the west of Cambay-77H.

Cambay-20

The Cambay-20 workover commenced on 5 November after completion of the rig move from Cambay-19z. Cambay-20 is an intermittent oil and gas producer located approximately 200 metres from Cambay-77H. It is connected to Cambay-73 facilities via a temporary flowline to recover gas for sale during intermittent oil production. It is an older legacy well and the workover is to recover, inspect, clean and replace as necessary, the production tubing. In addition, installation of a downhole pump is expected to improve oil production.

Cambay-77H

It is expected workover activities at Cambay 77-H will commence after Cambay-20 following confirmation of delivery times for various components sourced from North America. As such, preparations have commenced to isolate the reservoir section of the well such that the frac tree can be replaced with a production tree and production tubing can be installed. As previously announced, Cambay-77H will be connected to the Cambay-73 facilities via the temporary flowline and gas sold into the low-pressure market in the immediate vicinity of the field.

Other potential workover candidates

· Cambay-70 - located adjacent to Cambay-77H pad, a gas and oil producer from Eocene/MBS formation

· Cambay-60 - located approximately 2.3 km to the south of Cambay-77H, tested gas and condensate from OSII formation but never put into production

· Cambay-15 - located approximately 3.3 km to the south of Cambay-77H, a former gas producer from the OSII formation that may still be capable of servicing the low pressure market


Managing Director of Oilex, Ron Miller, said;

"The Cambay workover campaign continues with the successful completion of activities at Cambay-19z. The pumping performance to date indicates good well deliverability. We remain vigilant on costs while focusing on increasing cashflow from production. We are excited to build up momentum through the workover campaign and capture the commercial benefit of lower contractor service prices currently prevalent in the market."

For and on behalf of Oilex Ltd

Ron Miller

Managing Director

http://www.moneyam.com/action/news/showArticle?id=5149717

Oilex onto second well in Cambay workover programme
Philip Whiterow
10 Nov 2015

Cambay 19-Z, the first workover, is now pumping out brine with oil production set to commence shortly.

Oilex (LON:OEX ASX:OEX) has completed the first well in its workover programme at the Cambay field in India, with work now underway at the second.

Cambay 19-Z, the first workover, is now pumping out brine with oil production set to commence shortly.

Work has now started on Cambay-20, after which the rig will move to Cambay-77H with three other wells also being considered for possible workover.

Cambay 19-Z is 1.4km to the west of Cambay-77H. Cambay-20, meanwhile, is an intermittent oil and gas producer 200m from 77H.

Ron Miller, Oilex’s managing director, said: "The Cambay workover campaign continues with the successful completion of activities at Cambay-19z.

“The pumping performance to date indicates good well deliverability."

He added the company remains vigilant on costs while focusing on increasing cashflow from production.




Also:

11 November 2015 WST
ASX: OEX
AIM: OEX

Funding - Zeta Deferred Settlement


Oilex Ltd (Oilex or the Company) provides an update on the deferred element of the previously announced capital raising (announcement dated 3 August 2015), being the issue of shares and convertible notes to Zeta Resources Limited (Zeta). Zeta currently has a 10.3% holding in the share capital of Oilex.

Pursuant to arrangements agreed with Zeta, Zeta was to subscribe for:

· A$4,243,500 of 20 year, zero coupon unsecured convertible loan notes, convertible into Oilex shares at Zeta's option at any time (subject to compliance with Australian law), at a conversion price of A$0.0418 per share, by no later than 11 November 2015 (the Convertible Notes); and

· 124,019,608 new ordinary shares at a price of A$0.0418 per share, to enable the issue of those shares to be settled by no later than 12 November 2015 (the Deferred Shares).

As at the date of this announcement, Zeta has failed to settle the subscription for the Convertible Notes. Oilex will be considering, together with its external legal counsel, the remedies available to it arising out of Zeta's failure to settle the Convertible Notes.

Zeta has alleged that the Company has failed to disclose material information to it prior to its initial investment and has contravened statutory provisions relating to misleading or deceptive conduct and continuous disclosure and rights issue disclosure requirements. Whilst Zeta has at this stage only provided limited information to the Company regarding the basis of these allegations, Oilex considers them to be without merit and they will be vigorously defended.

The Board of Oilex is considering the full implications and options to progress the development of the Cambay Field, as a consequence of Zeta failing to settle the subscription of the Convertible Notes.

For and on behalf of Oilex Ltd

Ron Miller

Managing Director

http://www.moneyam.com/action/news/showArticle?id=5151293

ASX Announcement
11 November 2015 WST
ASX: OEX
AIM: OEX

Operations Update - Cambay JV

In light of the change in Oilex's funding arrangements, as announced earlier today, it is likely that the commencement of the approved 2 well drilling programme will be delayed. The Company also advises that our joint venture partner (JVP), has formally indicated to Oilex that it wishes to vary the approved work programme by flowing Cambay-77H for a period of six continuous months before embarking on the approved 2 well drilling campaign.

This variation has not been agreed by Oilex and discussions are ongoing in relation to this matter. Any change to the approved work programme for the joint venture agreed between the parties would require subsequent approval by the Government of India (GOI), under the terms of the Cambay Production Sharing Contract, and would be announced to the market at that time.

Therefore, should Oilex's funding arrangements be resolved it is possible that the commencement of the approved 2 well drilling campaign may be further delayed as a result of the change to the work programme, subject to the approval of the GOI.

Discussions continue regarding the joint venture cash calls owed by the JVP, which as at 31 October 2015 amount to ~US$7.7 million, an increase from 30 June 2015 of ~US$1.6 million.

Consideration is being given to a range of proposals that have been put forward by both parties. These discussions are incomplete at this time. However, the Board is focussed on finding a solution that will enable the approved work programme to move forward.

For and on behalf of Oilex Ltd

Ron Miller

Managing Director

http://www.moneyam.com/action/news/showArticle?id=5151416

12 November 2015

Ms Frieda Orr
Australian Securities Exchange Limited
Level 40, Central Park
152-158 St George's Terrace
PERTH WA 6000
By email: tradinghaltsperth@asx.com.au

Trading halt request

Oilex Ltd (ASX: OEX, AIM: OEX) (Oilex) requests a trading halt in the quotation of its ordinary shares effective immediately.

Pursuant to ASX Listing Rule 17.1, Oilex provides the following information:

· the trading halt is requested pending release of an announcement concerning proceedings which Oilex understands have been commenced against it today by Zeta Resources Limited in the Federal Court of Australia;

· Oilex requests the trading halt remain in place until the earlier of such time as it is in a position to make an announcement in relation to the above matter and commencement of trading on Monday 16 November 2015; and

· Oilex is not aware of any reason why the trading halt should not be granted, or of any other information available at this stage that is necessary to inform the market or the ASX about the trading halt.

Yours faithfully

Chris Bath

Chief Financial Officer and Company Secretary

http://www.moneyam.com/action/news/showArticle?id=5151661

IMO both OEX and Zeta should grow up and settle their differences amicably and in compliance with Gov of India, without all the Aussie courtroom drama.

With India fast becoming a huge O&G consumer over the next few decades, both OEX & Zeta stand to benefit substantially from their partnership. OR is there more to this than meets the eye; are strategic and tactical moves being played out in pursuit of 'A Cunning Plan'.

Something does not smell right in this sudden turn of events.

IMO
DYOR
HAb

12 November 2015 WST
ASX: OEX
AIM: OEX

Funding - Zeta Deferred Settlement Update

and Legal Proceedings

Further to its announcement yesterday, Oilex Ltd (Oilex or the Company) provides a further update on the deferred element of the previously announced capital raising (announcement dated 3 August 2015), being the issue of shares and convertible notes to Zeta Resources Limited (Zeta).

Pursuant to arrangements agreed with Zeta, Zeta was to subscribe for 124,019,608 new ordinary shares at a price of A$0.0418 per share, to enable the issue of those shares to be settled by no later than today (the Deferred Shares). Zeta has failed to settle the subscription for the Deferred Shares. Oilex will be considering, together with its external legal counsel, the remedies available to it arising out of Zeta's failure to settle.

Oilex has also been informed by Zeta that Zeta has today commenced proceedings against it in the Federal Court of Australia. Zeta has also made an announcement on the ASX to notify the market of these proceedings. The proceedings have not yet been formally served on Oilex, although Oilex has received from Zeta copies of the documents which Zeta asserts have been filed at Court. Oilex is currently considering the content of those documents.

Shares in Oilex remain trading on AIM but are subject to a trading halt on the ASX pursuant to Listing Rule 17.1.

For and on behalf of Oilex Ltd

Ron Miller

Managing Director

http://www.moneyam.com/action/news/showArticle?id=5152262

ASX Announcement
13 November 2015
ASX: OEX
AIM: OEX

UK Broker

Oilex Ltd (Oilex or the Company) advises that it has received a letter of resignation from its UK broker, Westhouse Securities Limited, effective immediately.

Oilex has appointed Strand Hanson, currently the Company's Nominated Adviser, as its UK Broker.

For and on behalf of Oilex Ltd

Ron Miller
Managing Director

http://http://www.moneyam.com/action/news/showArticle?id=5152802

13 November 2015 WST
ASX: OEX
AIM: OEX

End of Trading Halt on ASX

Oilex advises that the trading halt in the shares of the Company on the ASX, pursuant to Listing Rule 17.1, ended this morning as a result of yesterday's announcement entitled "Funding - Zeta Deferred Settlement Update and Legal Proceedings".

The Company also confirms receipt of formal proceedings and will be considering this in conjunction with external legal counsel.

For and on behalf of Oilex Ltd

Ron Miller

Managing Director

http://www.moneyam.com/action/news/showArticle?id=5153207

One Year Chart




Intraday Chart

17 November 2015
ASX: OEX
AIM: OEX

India Workover Update

l Cambay-20 workover successfully completed and workover rig demobilised

l Cambay-19z associated gas at surface, used to power the Hydraulic Lift Pump (HLP)

l Workover on Cambay-77H commenced using electric wireline unit

Oilex Ltd is pleased to provide the following Workover update:

Cambay-20

The Cambay-20 workover commenced on 5 November and was completed on 16 November, on schedule and under budget, including partial replacement of the production tubing. Installation of the HLP unit and downhole pump has commenced to optimise production from the well. Cambay-20, an intermittent oil and gas producer, is located approximately 200 metres from Cambay-77H and connected to Cambay-73 gas production facilities via a temporary flowline to recover gas for sale during intermittent oil production.

Cambay-19z

The pumping rate for the removal of workover brine was reduced from the anticipated 40bbls per day as a result of mechanical downtime required to adjust the HLP automatic controls and replace a hydraulic seal. Although Cambay-19z is an oil producer from the Eocene (EP IV) formation, associated gas has arrived at surface with sufficient pressure and volume to power the HLP. During the HLP downtime, Cambay-19z has exhibited self-flow bypassing the downhole pump again confirming good potential deliverability. Cambay-19z is located approximately 1.4 km to the west of Cambay-77H.

Cambay-77H

Cambay 77-H workover has commenced with the placement of a downhole production packer using an electric wireline unit. This packer isolates the frac'd reservoir section of the well such that the frac tree can be replaced with a production tree and production tubing can be installed. A workover rig is expected to be operational on site around 25 November. As previously announced, Cambay-77H will be connected to the Cambay-73 facilities via the temporary flowline with gas sold into the low-pressure market in the immediate vicinity of the field.

The Cambay-60 workover will commence after completion of Cambay-77H. Cambay-60 tested gas and condensate from the OSII formation but was never put into production. Some surface equipment requires replacement to ensure that the well is in optimal condition and its deliverability confirmed.

Other potential workover candidates

The candidates for possible workover are as previously stated. Subject to ongoing discussions with GSPC regarding cashcall payments, a decision related to further workovers after Cambay-60 will be made.

l Cambay-70 - located adjacent to Cambay-77H pad, a gas and oil producer from the Eocene/MBS formation

l Cambay-15 - a former gas producer from the OSII formation that may still be capable of servicing the low-pressure market.


Managing Director of Oilex, Ron Miller, said;

"The Cambay workover campaign continues with the successful completion of activities at Cambay-20 on schedule and under budget. Gas at surface, sufficient to run the HLP unit, is a positive sign and a significant cost reduction compared to purchasing LPG. These workovers deliver low cost increases to our gas sales and cash flow and the performance of the Operations team to deliver them on schedule and under budget is very pleasing."

For and on behalf of Oilex Ltd

Ron Miller
Managing Director

http://www.moneyam.com/action/news/showArticle?id=5155257

Oilex Workover Of Cambay-20 Well Completed On Schedule, Under Budget
17 November, 2015 | 2:03PM

LONDON (Alliance News) - Oilex Ltd said Tuesday that the workover of the Cambay-20 well in India was completed on schedule and under budget.

Installation of a hydraulic lift pump unit and downhole pump has begun at Cambay-20 to optimise production from the well, Oilex said.

A workover campaign at Cambay-77H has begun, the company said, and a workover of Cambay-60 will begin after the completion of Cambay-77H. Other candidates for possible workover, which Oilex will decide on after Cambay-60, include Cambay-70, which is located adjacent to Cambay-77H, and Cambay-15, a former gas producer that may still be capable of servicing the low-pressure market.

"The Cambay workover campaign continues with the successful completion of activities at Cambay-20 on schedule and under budget," said Managing Director Ron Miller. "Gas at surface, sufficient to run the Hydraulic Lift Pump unit, is a positive sign and a significant cost reduction compared to purchasing liquefied petroleum gas. These workovers deliver low cost increases to our gas sales and cash flow and the performance of the Operations team to deliver them on schedule and under budget is very pleasing."

Shares in Oilex were down 8.3% at 0.550 pence Tuesday afternoon.

Last week, Oilex said trading had been suspended in its Australian-listed shares whilst it evaluates documents it has received from Zeta Resources Ltd containing information about allegations made against the company in the Federal Court of Australia. Oilex said Zeta had accused the company of failing to "disclose material information" prior to Zeta investing in the company in July.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews




Also:

20 November 2015
ASX: OEX
AIM: OEX


Appendix 3Y - Relinquishment of options



Mr Sundeep Bhandari has advised the Oilex Board that he has requested the cancellation of 4,000,000 unlisted options issued to him and held in the name of India Hydrocarbons Ltd. Mr Bhandari holds no other unlisted options.



Attached is an Appendix 3Y Change of Director's Interest Notice.

http://www.moneyam.com/action/news/showArticle?id=5158046

25 November 2015
ASX: OEX
AIM: OEX


Corporate Presentation November 2015


Oilex Ltd advises that a copy of an Oilex Corporate Presentation dated November 2015 can be viewed by clicking on the below link.

http://www.rns-pdf.londonstockexchange.com/rns/8565G_-2015-11-25.pdf

http://www.moneyam.com/action/news/showArticle?id=5160415

25 November 2015
ASX: OEX
AIM: OEX

Chairman's Address to Shareholders


Good morning ladies and gentlemen, and welcome to the 2015 Oilex Annual General Meeting.

We regret to advise that, as previously announced, Mr Sundeep Bhandari has withdrawn his nomination for re-election as a director pursuant to Resolution 3 of the Notice of Annual General Meeting. In addition, there has been a large negative vote recorded against all of the resolutions covering the remuneration report (Resolution 1), replacement of the Constitution (Resolution 2) and the re-election of Jeffrey Auld as an Independent Non-Executive Director (Resolution 4), all of which will be decided by a poll. Should Resolution 4 not be carried at this meeting, this will necessitate the appointment of an additional director following this AGM to ensure the Company complies with Australian Corporations Law requirements.

The remaining Board members recognise the dissatisfaction demonstrated by these votes, and we are setting in train the following measures to address some of those concerns;

· The Company is reviewing its strategic plan and financing of our core asset at Cambay.

· Progress negotiation of a commercial resolution of the Cambay Joint Venture program, cash calls and potential joint venture restructure.

· Defending the Zeta litigation with the assistance of external counsel.

· Review existing board structure and participants, and appoint suitably qualified and experienced directors.

· Reviewing Executive management and staffing levels appropriate to the current amended development timetable, including review of ongoing operating costs.

The current year has seen a continuation in the softening of the global resources and energy markets. During this challenging time the Board and management has continued the transformation of the Company into an emerging energy supplier in the Cambay Basin located in Gujarat State, India.

2014/15 has been a landmark year for your company with the delivery of the proof-of-concept well, Cambay 77-H, and the reporting of significant independently certified reserves. Oilex is the first company to successfully apply proven North American drilling and completion technology to tight oil and gas in India in the Cambay Basin, India. The success of this step-change technology has resulted in an upgrade to the reserves and contingent resources of our Cambay Field.

Alongside this technological success at Cambay, the Company has made significant progress on the work-over component of the approved 2015/16 work programme.

The Cambay Field is located adjacent to an existing gas pipeline grid with surplus capacity in the State of Gujarat and this should facilitate cost-effective commercialisation of Cambay natural gas. While global energy markets are experiencing significant price constraints, being close to existing infrastructure and growing local energy demand should ensure that domestic prices will be somewhat resilient to external price pressures.

With delivery of the proof of concept well at Cambay, Oilex is now progressing the transition from junior explorer to producer. This transition will not be without its challenges. Having achieved the technical proof of concept and independently certified reserves, the focus and priorities of the Board and management are increasingly concentrated on the commercial, regulatory and funding challenges that commencing the next phase of production from Cambay will bring. In addition to addressing the structural joint venture funding issues that have arisen.

In July 2015, we announced a capital funding programme to raise A$30 million (before expenses) to fund the approved 2015/16 work programme in India, estimated minimum work commitments in the Canning Basin and working capital requirements. This included a A$9.4 million deferred settlement component with Zeta Resources Limited, who currently have a 10.3% shareholding in Oilex.

Earlier this month we advised that Zeta had failed to settle the subscription for the deferred settlement portion of its placement and convertible note and was pursuing legal action against Oilex. With the assistance of external legal counsel, we are presently considering the remedies available to us and we will act in the best interests of all shareholders to defend any legal action.

This development has obviously had a significant impact on the company's share price, however in the short term our focus is to complete the current Cambay work-overs and the Bhandut-3 production facilities to increase our net revenue stream. Both programmes are in progress at present and completion of these activities is an important step in transforming Oilex into a sustainable business based upon production, cash flow and reserves growth.

In the medium to longer term our focus remains the commercialisation of significant hydrocarbon reserves located in an energy market with strong fundamentals. While the schedule for the approved 2015/16 drilling campaign at Cambay is currently being reconsidered with our Joint Venture partner, in addition to their outstanding cash calls, we anticipate that these wells will be commercially viable and the first steps in the field development plan, and should ultimately create significant value for all shareholders and stakeholders through delivering domestically sourced energy to the India market offsetting imported LNG. The Board is also actively reviewing alternative funding opportunities to assist in realising these goals.

Your Board believes that India offers a compelling investment proposition as the world's fourth largest energy consumer with a large unsatisfied gas demand. India is forecast to be the world's fastest growing large economy over the next two years. Strong growth, combined with a growing middle class forecast to be ~475 million people by 2030 is anticipated to result in significant growth in energy and natural gas consumption.

On behalf of the Board I wish to record our appreciation for the support and dedication of our Executive Management, staff, Joint Venture partners, contractors, local communities, shareholders and stakeholders during the year and look forward to the successful restructuring of the Board, capital structure and commercialisation of the Cambay Field.

In addition, I would like to record mine and the Board's appreciation for the significant contribution made by Mr Sundeep Bhandari who has decided to retire as a non-executive director from the close of this Annual General Meeting.

Yours Sincerely,

MDJ Cozijn

Chairman

http://www.moneyam.com/action/news/showArticle?id=5160414

Oilex to review strategy after shareholder AGM revolt
Jamie Ashcroft
08:24 25 Nov 2015

“The remaining board members recognise the dissatisfaction demonstrated by these votes,” chairman Max Cozijn said.


Oilex (LON:OEX, ASX:OEX) has launched a review of its strategy and financing plans after shareholders voted down all resolutions at the company’s AGM in Australia today.

The vote means Jeffrey Auld has not been re-elected as an independent director, nor has Sundeep Bhandari who withdrew his nomination. Shareholders also voted against resolutions relating to director remuneration and changes to the company’s constitution.

“The remaining board members recognise the dissatisfaction demonstrated by these votes,” chairman Max Cozijn said in a stock market statement.

Cozijn told investors that the company would now review its strategic plan and financing of the Cambay field, its core asset.

It will progress negotiation of a commercial resolution to Cambay joint venture, to address its partner’s outstanding cash calls and a potential restructuring, he added.

And he said the company is also going to review its existing board structure, as well as its executive management and staffing levels.

The company must also defend the Zeta litigation, with the assistance of external counsel.

“Earlier this month we advised that Zeta had failed to settle the subscription for the deferred settlement portion of its placement and convertible note and was pursuing legal action against Oilex,” Cozijn said.

“With the assistance of external legal counsel, we are presently considering the remedies available to us and we will act in the best interests of all shareholders to defend any legal action.

“This development has obviously had a significant impact on the company's share price, however in the short term our focus is to complete the current Cambay work-overs and the Bhandut-3 production facilities to increase our net revenue stream.”

26 November 2015

Oilex Ltd

ASX Trading Halt

Oilex Ltd (ASX: OEX, AIM: OEX) wishes to advise that its shares have been placed in a trading halt on the Australian Securities Exchange ("ASX") pending the release of an announcement in relation to the appointment of a new director to satisfy its obligations under the Australian Corporations Act. Oilex shares will continue to trade on AIM during this period.

The below text was released on the ASX regarding the trading halt:

26 November 2015

Ms Frieda Orr
Australian Securities Exchange Limited
Level 40, Central Park
152-158 St George's Terrace
PERTH WA 6000

By email: tradinghaltsperth@asx.com.au

Trading halt request

Oilex Ltd (ASX: OEX, AIM: OEX) (Oilex) requests a trading halt in the quotation of its ordinary shares effective immediately.

Pursuant to ASX Listing Rule 17.1, Oilex provides the following information:

· the trading halt is requested pending release of an announcement concerning the appointment of a new director to satisfy its obligations under the Corporations Act;

· Oilex requests the trading halt remain in place until the earlier of such time as it is in a position to make an announcement in relation to the above matter and commencement of trading on Monday 30 November 2015; and

· Oilex is not aware of any reason why the trading halt should not be granted, or of any other information available at this stage that is necessary to inform the market or the ASX about the trading halt.

Yours faithfully

Chris Bath

Chief Financial Officer and Company Secretary

http://www.moneyam.com/action/news/showArticle?id=5161620

30 November 2015
ASX: OEX
AIM: OEX

Director Appointment


Oilex Ltd has pleasure in announcing the appointment of Jonathan (Joe) Salomon as an Independent Non-Executive Director of the Company with immediate effect.

Mr Salomon has over 30 years experience working for upstream energy companies. He was previously the General Manger Exploration and New Ventures for Australia and then Vietnam at Murphy Oil Corporation, an independent international oil and gas company listed on the New York Stock Exchange. Prior to this, Mr Salomon was Global Head of Geoscience at RISC PL, an independent oil and gas consultancy firm. Joe acted in executive director roles for Strategic Energy Resources, Norwest Energy and Nido Petroleum between 2000 and 2009. From 1990 until 1996, he was a Senior Explorationist for Ampolex and, after its takeover by Mobil, was New Exploration and Producing Ventures Team Leader for Mobil.


At various times in his career, Mr Salomon has acted as an independent consultant for a number of oil & gas companies, including New Standard Energy and Pacrim Energy. Joe first worked on Indian projects in 1994 while at Ampolex and since that time has maintained connection with the Indian industry, at various times bidding in India's exploration and field development rounds and working with Indian companies as joint venture partners, both in India and internationally. Joe graduated from the University of Southern Queensland with a Bachelor degree in Applied Science and is a member of the American Association of Petroleum Geologists, Petroleum Exploration Society of Australia and South East Asian Petroleum Exploration Society.


The appointment of Mr Salomon facilitates the lifting of the Trading Halt on the ASX that was put in place on Thursday 26 November 2015.


Additional Information on Mr Jonathan (Joe) Salomon

The following additional information is provided in accordance with paragraph (g) of Schedule Two to the AIM Rules for Companies:

Jonathan (Joe) Arnold Salomon (aged 59)

Current Directorships/Partnerships-None

Past Directorships/Partnerships (last 5 years)-None

There is no other information that is required to be disclosed pursuant to paragraph (g) of Schedule Two to the AIM Rules for Companies.

For and on behalf of Oilex Ltd

Max Cozijn

Chairman

http://www.moneyam.com/action/news/showArticle?id=5163025

2 December 2015
ASX: OEX
AIM: OEX
ASX: ZER

Zeta Legal Proceedings Update

Oilex Ltd (Oilex or the Company) provides an update on the previously announced legal proceedings (announcement dated 13 November 2015 and 25 November 2015), commenced by Zeta Resources Limited (Zeta).

Oilex has today provided notice to the Court and Zeta of its intention to defend the legal proceedings and agreed a timetable with Zeta by which Oilex will file and serve its defence and cross claim by 16 December 2015.

The parties are presently engaged in discussions to explore options for a commercial resolution of the dispute, the subject of the legal proceedings. The parties have further agreed with the approval of the Court, not to take further steps in the legal proceedings until 1 March 2016 (other than filing and serving the defence and cross claim).

http://www.moneyam.com/action/news/showArticle?id=5166084

8 December 2015
ASX: OEX
AIM: OEX

Cambay Workover Update

l Cambay-77H gas is being sold at a peak rate exceeding 110 boepd, via Cambay-73 facilities

l Cambay-19z oil production ~12 bopd plus associated gas

l Cambay-20 Hydraulic Lift Pump (HLP) installed

Oilex Ltd is pleased to provide the following workover update:

Production from the Cambay Field is now ~75 boepd and may increase in line with demand from the local low pressure gas market now that Cambay-77H is online.

Cambay-77H

The Cambay-77H workover is complete and, based upon cumulative production since restarting the well, is now averaging ~51boepd via the flowline connection to Cambay-73 facilities. The well is producing through a 1/64 inch choke and the tubing head pressure is ~2,600 psig and steady. Production from Cambay-77H is meeting the demand from the local low pressure gas market, including a peak demand rate of ~0.500MMscfd for ~1 hour period that occurs twice daily. At peak demand, gas is being sold from Cambay-77H at greater than 110boepd using the average condensate to gas ratio (CGR) of ~55bbls/MMscf since restarting the well.

The well performance is being closely monitored subsequent to recommencing production and a fuller understanding of its deliverability potential will be gained from ongoing production. Although demand for local gas fluctuates according to peak demand times as noted above, it is anticipated that overall gas demand from the local low pressure gas market may gradually increase now that Cambay-77H is online. An increase in the market overall will be dependent on successful marketing efforts in India. This marketing is underway.

As anticipated, the newly installed production tubing has improved the flow performance of the well compared to flowback and testing operations during 2014. The workover rig installed the production tubing without having to kill the well, this is believed to be the first time this activity has been successfully accomplished in a horizontal multi-stage frac'd well in India.

Cambay-19z

Cambay-19z is now producing oil at ~12 bopd plus associated gas from the Eocene (EP IV) formation, and is within expectations. The associated gas is used at site to power the pump. The operation to reposition the downhole pump has been successful. The well has also been fitted with a chemical injection system to improve flow performance. Cambay-19z is located approximately 1.4 km to the west of Cambay-77H.

Cambay-20

Installation of the HLP unit and downhole pump is complete and pumping out of the brine has commenced. Gas has been detected at surface in a similar manner to Cambay-19z. Cambay-20 has previously been an intermittent oil and gas producer without using a downhole pump. It is located approximately 200 metres from Cambay-77H and associated gas not used to power the pump is transmitted to the Cambay-73 gas treatment facilities.



Other potential workover candidates

The future possible workover list has ~ 6 new candidates for consideration. As previously announced, subject to ongoing discussions with our Joint Venture Partner regarding cashcall payments, a decision will be made in relation to further workovers after the Cambay-60 workover is complete.



Managing Director of Oilex, Ron Miller, said;

"The Cambay workover campaign continues to deliver positive results with oil production from Cambay-19z meeting expectations and the deliverability of Cambay-77H gas production enhanced with successful installation of the production tubing. Overall, in relation to the Cambay Field, Oilex is now focussing on its objective of achieving a production rate target of ~150 boepd."

For and on behalf of Oilex Ltd

Ron Miller

Managing Director

http://www.moneyam.com/action/news/showArticle?id=5169766

18 December 2015
ASX: OEX
AIM: OEX

Zeta Legal Proceedings Update

Oilex has now filed its defence in the Federal Court proceedings initiated by Zeta Resources Limited (Zeta). Oilex has also filed a cross-claim against Zeta seeking orders of specific performance requiring Zeta to perform its obligations and complete the relevant share subscription and convertible note agreements (or otherwise pay damages to Oilex).

Oilex will proceed to strongly defend the action and prosecute its cross-claim against Zeta if no resolution is reached in the discussions which will now occur between the parties as announced in OEX's ASX release of 3 December 2015.

For and on behalf of Oilex Ltd

Ron Miller

Managing Director

http://www.moneyam.com/action/news/showArticle?id=5177706

21 December 2015
ASX: OEX
AIM: OEX

India Operations Update

l Cambay-77H produced ~715 boe during first 10 days, ~2.7MMscf gas and 252 bbls of condensate

l Cambay-77H gas sales averaged ~0.267MMscfd with a maximum peak rate of 0.572MMscfd

l The Bhandut-3 well and the associated gas production facilities are ready for start-up

Oilex Ltd is pleased to provide the following update:

Cambay-77H

Since restarting production, the Cambay-77H initial average production rate for 10 days (IP10) was ~71.5boepd. Although demand for gas fluctuates on a regular basis, as anticipated, production from Cambay-77H has gradually increased from 51boepd as previously announced on 7 December 2015. The well continues producing through a 1/64 inch choke and the average tubing head pressure for the same period was ~2,400psig. The condensate gas ratio (CGR) increased to an average of ~92.5bbls/MMscf from the previously reported 55bbls/MMscf. It is expected that with further production, the CGR may decrease to the anticipated 40-50bbls/MMscf as the tubing head pressure decreases.

Gas is sold into the low-pressure market in the immediate vicinity of the field. The well continues to meet the local low pressure market including a peak demand rate of ~0.500MMscfd for ~1 hour that occurs twice daily. Further increases in the overall market will be dependent on successful marketing efforts that are currently underway.

Ongoing production from Cambay-77H will allow a fuller understanding of its deliverability potential from the Y zone and the longer term CGR. This production data will be used to update the numerical simulation model created as part of the Independent Resource Assessment completed by RISC in April 2015 (refer ASX announcement dated 16 April 2015).

Cambay 73

Cambay-73 remains shut in, as Cambay 77H can meet current demand from the low-pressure market.

Bhandut Field

The Bhandut-3 well and the associated gas production facilities are ready for start-up (see attached photographs). The gas buyer is responsible for construction of a flowline to deliver the gas for further processing. This work has commenced and is estimated to be complete in early January 2016 at which time Bhandut-3 will commence commercial production. It is planned that Bhandut-3 will start-up at 0.7MMscfd and its performance will be closely monitored.

Joint Venture Matters

Oilex is continuing to work closely with our joint venture partner via regular meetings to resolve the outstanding receivable amount owed to the joint venture, and rescheduling the drilling of Cambay-78H and Cambay-80H wells.



Managing Director of Oilex, Ron Miller, said;

"Cambay continues to deliver positive results with Cambay-77H gas production gradually increasing as the low pressure gas market demand permits. While the higher than anticipated CGR at present is positive, ongoing production data is necessary to determine its sustainability. Another major milestone for 2015 has been achieved with Bhandut-3 and the gas production facilities ready for start-up. Oilex continues to focus on growing production and cashflow in India underpinned by a significant independently assessed Reserve and Resource base."



For and on behalf of Oilex Ltd

Ron Miller

Managing Director

http://www.moneyam.com/action/news/showArticle?id=5179973

6 January 2016
ASX: OEX
AIM: OEX

Expiry of Unlisted Options

Oilex Ltd wishes to advise that 3,000,000 employee options with an exercise price of $0.15 and an expiry date of 17 December 2015 have expired unexercised.

For and on behalf of Oilex Ltd


Chris Bath

Chief Financial Officer and Company Secretary

http://www.moneyam.com/action/news/showArticle?id=5187905

I'll split the Report into two posts but please read complete document to review in full, link at BOP:


29 January 2016

OILEX LTD - DECEMBER 2015 QUARTERLY REPORT

HIGHLIGHTS

CAMBAY FIELD, ONSHORE GUJARAT, INDIA

» Workover on Cambay-77H completed, production from Cambay-77H has gradually increased from 51 boepd to average 70 boepd by end of December 2015

» Cambay-19z is now producing oil and associated gas from the Eocene Formation and is performing to expectations

» Cambay-20 workover successfully completed and workover rig demobilised

» Negotiations continue with our joint venture partner to address payment of outstanding cash calls, contributions to workovers, timetable and contribution to drilling of Cambay-78H and Cambay-80H wells resulting in delays to planned activities and cashflows

BHANDUT FIELD, ONSHORE GUJARAT, INDIA

» Construction of the gas production facility completed and ready for start up

» Gas buyer responsible for construction of pipeline and estimates completion by end of January 2016

» Bhandut-3 commercial production is anticipated to commence mid-February

CORPORATE

» During the quarter, the Company commenced a review of its organisational structure, overhead and corporate costs, with cost savings of between ~15%-20% per annum identified and being implemented in Q1 2016

» Appointed Joe Salomon as Independent NED, having ~30 years' experience in the oil and gas industry, in November 2015

» With the retirement of two non-executive directors pursuant to the AGM, the Board is reviewing the existing Board structure and the appointment of additional suitably qualified and experienced directors

» Zeta Resources Limited (10.3% shareholder) defaulted on its deferred funding commitment of $9.4 million and commenced legal action against the Company. The Company filed its defence and counterclaim on 16 December 2015. The parties have agreed to a standstill on legal action until 1 March 2016 for parties to explore a possible commercial resolution.

OPERATIONS REVIEW

OVERVIEW

Despite the depressed global oil price, the Company continues to focus on completion of the Cambay workovers and production from Bhandut-3 to improve its short term revenue stream, as imported LNG is the only major competitor for the Company's Indian domestic gas production and therefore gas prices have remained somewhat resilient. The Company continues to seek a solution to progress the development of the broader Cambay project, taking into account the joint venture partner funding arrears and the difficult financial markets for funding early stage development projects.

HEALTH, SAFETY, SECURITY AND ENVIRONMENT

No Lost Time Incidents recorded during the quarter.

TOTAL NET OIL AND GAS PRODUCTION - 324 BBLS and 5.5 MMscf for the quarter (~1,278 boe)

The Cambay Field delivered net oil and gas production of 324 bbls and 5.5 MMscf for the three months to 31 December. This is a decrease of 115 boe on the previous quarter, reflecting lower offtake from small variations in the buyer consumption over the quarter.

At the end of the quarter, Bhandut Field production had not commenced due to a delay by the gas buyer in completing the pipeline installation.

During 2015 the Company implemented a plan to target a daily production rate of 340 boepd gross from Cambay and Bhandut Fields. Production during the December quarter was below the plan due to the delay in commencement of Bhandut-3 production, delays in undertaking workovers as a result of unpaid cash calls and constraints on the existing gas buyer. The Company will assess a new targeted daily production rate after commencement of Bhandut-3 production and an assessment of the local economic parameters.

CAMBAY FIELD, GUJARAT, INDIA

(Oilex: Operator and 45% interest)

The India workover campaign is targeting incremental oil and gas production from existing wells that will contribute cash flow to the Indian operations. Cambay-19z is now producing oil at ~12 bopd plus associated gas from the Eocene (EP-IV) formation, and is within expectations. The associated gas is used at site to power the pump. The operation to reposition the downhole pump was successfully completed during the quarter. The well has also been fitted with a chemical injection system to improve flow performance. Cambay-19z is located approximately 1.4 km to the west of Cambay-77H.

During the quarter, installation of the HLP unit and downhole pump at Cambay-20 was completed and pumping out of the brine had commenced. Gas had been detected at surface in a similar manner to Cambay-19z and influx from the reservoir to the well bore is still being assessed. Cambay-20 has previously been an intermittent oil and gas producer without using a downhole pump.

Production and Facilities

Cambay-73

Cambay-73 remains shut in, as Cambay-77H can meet gas buyer's current demand in the low-pressure market. Pressure and production volume measurements are continually recorded to provide further information about the Y Zone reservoir.

Cambay-77H

During the quarter, the Company completed the workover at Cambay-77H which included replacement of the frac tree with a production tree and installation of production tubing.

Since restarting production, Cambay-77H has gradually increased from 51 boepd. The initial average production rate for 10 days (IP10) was ~71.5 boepd and average IP10 condensate gas ratio (CGR) was ~92.5 bbls/MMscf. Production for 30 days was achieved on 4 January 2016 and Cambay-77H averaged ~70 boepd, meeting the buyer's demand, with an average tubing head pressure of 1,851psig and the CGR remained stable averaging ~90 bbls/MMscf. With further production, it is still expected that the CGR may decrease to the anticipated 40-50 bbls/MMscf as the tubing head pressure decreases.

Cambay-78H and Cambay-80H

As previously advised, our joint venture partner has formally indicated to the Company that it wished to vary the approved work programme. In light of this and the change in the Company's funding arrangements resulting from non-receipt in November 2015 of the deferred settlement portion of the capital raising from Zeta Resources Limited, approved by Shareholders on 12 August 2015, the commencement of the approved two well drilling programme, including tendering, will be delayed. Any change to the approved work programme for the Joint Venture agreed between the parties requires subsequent approval by the Government of India (GOI), under the terms of the Cambay Production Sharing Contract, and will be announced to the market at that time.

Cambay Gas Market

Cambay-77H gas continues to be sold into the low-pressure gas market in the immediate vicinity of the field partially serviced by the gas buyer and has a peak demand rate of ~0.57 MMscfd. The Company has been monitoring the licensing process by the GOI for expansion of a City Gas Distribution Network for the Anand Geographical Area (Area) which is ~1,900 km2. The Cambay Field is located within the Area and has a natural competitive advantage to imported LNG, which is currently used to supply gas within the Area.

The award of the license to upgrade and enhance the gas distribution network is anticipated to be made during Q1 2016. Under these arrangements, existing and new commercial/industrial customers having a gas demand up to ~2.5 MMscfd are expected to be supplied by the licensee who sources gas from upstream producers, such as the Cambay Joint Venture.

http://www.moneyam.com/action/news/showArticle?id=5202599

Joint Venture Management

As at 31 December 2015 the joint venture partner owed ~US$8.6 million to the Cambay Joint Venture. The Company has had a number of constructive meetings with its joint venture partner to resolve the outstanding joint venture receivable amount, the workover campaign, rescheduling the drilling of Cambay-78H and Cambay-80H wells, and the joint venture partner's participation in these wells. While these negotiations continue, various activities for the Cambay project will be delayed. As at 31 December 2015 Indian joint venture creditors totalled US$2.4 million, and payments are being managed by the Operator pending receipt of outstanding cash calls.

A draft budget for the 2016/17 year has been submitted to the Joint Venture for review and consideration.

Oilex has engaged the services of Mr Vijay Mishra to provide strategic advice for its entire Indian business. Mr Vijay Mishra has over 25 years' experience in the oil and gas industry in India, including senior positions with ONGC and Oil India Ltd including Staff Officer to the Chairman, Country Head for the Sapura Group (Malaysia). Mr Mishra has been Chairman of Interlink Petroleum Limited since October 2012.

BHANDUT FIELD, GUJARAT, INDIA

(Oilex: Operator and 40% interest)

Harvesting Conventional Gas

The Bhandut-3 well and the associated gas production facilities are ready for start-up at 0.70MMscfd. The gas buyer is responsible for construction of a pipeline to deliver the gas for further processing and had undertaken to have the pipeline completed no later than 31 December 2015. The buyer has now estimated the pipeline will be complete by the end of January 2016. The Company anticipates that Bhandut-3 commercial production may commence around mid-February. Bhandut gas is delivered to a third party operated gas processing plant where the gas is further treated to the required pipeline specification and subsequently compressed for entry into the gas network. Subject to assessing Bhandut-3's performance, it may be possible to increase the production rate to the facilities/flowline capacity of ~1.3 MMscfd (~220 boepd).

Figure 1: Bhandut Facility (see Oilex website)

Joint Venture Management

As at 31 December 2015 the joint venture partner owed ~US$0.3 million related to the Bhandut Joint Venture. The Company has had a number of constructive meetings with our joint venture partner to resolve the outstanding receivable amount.

WALLAL GRABEN - WESTERN AUSTRALIA (CANNING BASIN)

(Oilex: Operator and 100% interest)

The Wallal Graben asset is located adjacent to the Pilbara, a global resource centre for iron ore and LNG in Western Australia. The Company has a low cost entry into a province with the key determinates for successful development, being:

· Markets

· Infrastructure

· Geology

The Company has identified and evaluated a suite of 14 conventional prospects. An evaluation of the unconventional prospectivity was also undertaken which highlighted that unconventional plays are interpreted to exist and may be consistent with those identified by drilling in the Canning Basin. The leads and prospects inventory comprises multiple play-types ranging from simple structural traps to well-defined fan systems.

The Goldwyer Formation, an acknowledged resource play, is interpreted to exist within the Wallal Graben and is a focus objective for the Company. The Wallal Graben may be a relative sweet spot for these organic-rich source rocks due to its geological history.

Signing of Heritage Agreements with the Nyangumarta people in relation to the two northern blocks is linked to a request to the DMP that all three blocks be awarded simultaneously. Consultations on the Heritage Agreements for all blocks are ongoing.

Farmout efforts are still underway and the Company continues to review how to best market and fund this project given the current difficult economic climate for the oil and gas industry.

Figure 2: Significant infrastructure within and adjacent to Oilex's Wallal Graben permits (see Oilex website)

JPDA 06-103, TIMOR SEA

(Oilex: Operator and 10% interest)

Oilex in its capacity as Operator, on behalf of the Joint Venture Participants in the Joint Petroleum Development Area (JPDA) 06-103 Production Sharing Contract (PSC), received on 15 July 2015 a Notice of Termination and Demand for Payment (Notice) from the Autoridade Nacional do Petroleo (ANP). The Notice follows on from the rejection by the ANP of the Joint Venture request to terminate the PSC by mutual agreement, in good standing and without penalty.

The demand for payment of the monetary claim of US$17,018,790 is the ANP's estimate of the cost of exploration activities not undertaken in 2013, as well as certain local content obligations set out in the PSC. Since Oilex (JPDA 06-103) Ltd had a 10% equity interest in the PSC its share of the monetary claim is US$1,701,879. The Company has not provided for a monetary settlement in its financial statements. As the Joint Venture has made significant overpayments in the work programme, it is of the opinion that the excess expenditure should be included as part of any financial assessment incorporated in the termination process.

The Joint Venture continues to discuss the financial liability of the Contractor upon termination with the ANP.

WEST KAMPAR PSC, CENTRAL SUMATRA, INDONESIA

(Oilex: 45% interest and further 22.5% secured1)

A Court approved Scheme of Arrangement has been implemented over the Operator, however Oilex continues to pursue enforcement of the Arbitration Award and a commercial settlement.

NEW VENTURES

The Company continues to search for attractive assets coming onto the market given the depressed nature of the industry, with a focus on Indian opportunities where the Company's experience in unconventional targets can be applied.

CORPORATE

At the end of the quarter the Company retained cash resources of $11.5 million.

During the quarter the Company commenced a review of its organisational structure, overhead and corporate costs. Subsequent to the end of the quarter the Company implemented cost reductions to achieve estimated savings of between ~15%-20% per annum on its overhead and corporate costs. Cost reduction initiatives being implemented include:

· ~15% reduction in personnel on a full time equivalent basis,

· ~10% reduction in salaries and wages for personnel, and

· 10% reduction in directors' fees.

Until a resolution on the way forward on the Cambay project is achieved, the Company continues to conserve its cash resources and further cost reduction initiatives may be necessary.

Zeta Litigation

The Company undertook a capital raising in July and August 2015 which included a 90 day deferred settlement component for the issue of shares and convertible notes to Zeta Resources Limited (Zeta). This consisted of the issue of $4,243,500 of 20 year, zero coupon unsecured convertible notes, as well as a subscription for 124,019,608 new ordinary shares at a price of $0.0418 per share (the Deferred Shares), with settlement to occur on 11 November and 12 November 2015 respectively. Zeta failed to settle the subscription for the Deferred Shares and the convertible notes and commenced legal action on or about 12 November 2015 against the Company in the Federal Court of Australia.

On 16 December 2015 the Company filed its defence in the Federal Court proceedings initiated by Zeta. The Company has also filed a cross-claim against Zeta seeking orders of specific performance requiring Zeta to perform its obligations and complete the relevant share subscription and convertible note agreements (or otherwise pay damages to the Company). With the agreement of the Court, the parties have established a standstill period until 1 March 2016 to explore a possible commercial resolution to the dispute.

The Company has incurred significant legal fees during the quarter as a result of this litigation which is reflected in the estimated Administration cash outflows reported in the Appendix 5B attached.

AIM Broker

Westhouse Securities withdrew as the Company's AIM broker on 13 November 2015 and was replaced by Strand Hanson who are also the Company's AIM Nomad. The Company is seeking to appoint a new full service AIM broker in the near future.

Board Composition

On 18 November 2015 Mr Sundeep Bhandari withdrew his nomination to stand for re-election as a Director of the Company and advised that he would retire at the close of the 25 November 2015 Annual General Meeting (AGM).

Shareholders at the AGM did not re-elect Mr Jeffrey Auld, and as a result, the Company needed to appoint a new director to satisfy its obligation under the Corporations Act to have a minimum of three directors.

The Company announced the appointment of Mr Jonathan (Joe) Salomon as an Independent Non-Executive Director of the Company effective 29 November 2015. Mr Salomon has over 30 years' experience working for upstream energy companies.

The Board is actively pursuing the appointment of suitable additional independent non-executive directors.


Capital Structure as at 31 December 2015


Ordinary Shares

1,180,426,999


Unlisted Options

26,150,000

http://www.moneyam.com/action/news/showArticle?id=5202599

DECEMBER QUARTERLY REPORT (pdf)

11 February 2016
ASX: OEX
AIM: OEX

Oilex Strengthens Board with Appointment of NED

The Board of Oilex Ltd (the Company) is very pleased to announce the appointment of Brad Lingo as an Independent Non-Executive Director.

Mr Lingo has over 30 years' experience in a diverse range of oil and gas leadership roles, including business development, new ventures, mergers and acquisitions and corporate finance. Mr Lingo's career to date has seen him work with Tenneco Energy and El Paso Corporation in the US and Australia, the Commonwealth Bank of Australia, Managing Director & CEO of Drillsearch Energy Limited for 6 years and his current role of Managing Director & CEO of Elk Petroleum Limited.

Mr Lingo is a recognised oil and gas industry leader, whose broad range of skills and experiences have been recognised in recent awards including winning the SMH/East Coles S&P/ASX 200 Energy Best CEO of the Year 2014.

Brad has a Bachelor of Arts with Honours (Economics, History, and Philosophy) from Miami University and a Juris Doctorate from Southern Methodist University in Dallas, Texas. He is also a member of the Australian Institute of Company Directors, the Association of International Petroleum Negotiators and the American Association of Petroleum Geologists.

Mr Lingo started his career in the oil and gas sector in 1986 representing major Texas financial institutions and the US Government in Dallas, Texas, successfully assisting both financial institutions and oil & gas companies through major financial restructurings following the 1986 oil price collapse.

Mr Lingo subsequently joined Tenneco Inc. in Houston, Texas as a corporate attorney in the company's Mergers, Acquisitions and Corporate Finance team supporting the Upstream Oil & Gas and Midstream Gas Pipeline & Processing divisions. Based on his achievements as part of this team he advanced to become a leading new ventures and business development executive in the company's International Business Development Team ultimately focussing on Tenneco's and El Paso's international business focus in Australasia including the foundation of Epic Energy - a leading builder, owner and operator of natural gas pipeline infrastructure in Australia.

Chairman of Oilex, Max Cozijn, said;

"Oilex is fortunate to have a person with Brad's record of success and experience join the Board as an additional Independent NED, thereby fulfilling our aim to restructure the Board and assist in the ongoing review of the Company's strategic plan and ongoing developments in India".

Additional Information on Mr Bradley Lingo

The following additional information is provided in accordance with paragraph (g) of Schedule Two to the AIM Rules for Companies:

Bradley William Lingo (aged 54)

Current Directorships/Partnerships-Elk Petroleum Limited

Past Directorships/Partnerships (last 5 years)

Drillsearch Energy Limited
Ambassador Oil & Gas Limited
Acer Energy Limited

There is no other information that is required to be disclosed pursuant to paragraph (g) of Schedule Two to the AIM Rules for Companies.

For and on behalf of Oilex Ltd

Max Cozijn
Chairman

http://www.moneyam.com/action/news/showArticle?id=5211153

1 March 2016
ASX: OEX
AIM: OEX

Zeta Legal Proceedings Update

Further to Oilex's announcement updates of 2 and 18 December 2015 the parties have not been able to agree a resolution of the dispute at this point in time, however discussions are continuing.

As a result, and in accordance with consent orders made with the Federal Court yesterday, Zeta Resources Limited must now file and serve any reply and defence to Oilex's cross claim by 29 March 2016.

For and on behalf of Oilex Ltd

Ron Miller
Managing Director

http://www.moneyam.com/action/news/showArticle?id=5223136

8 March 2016
ASX: OEX
AIM: OEX

Expiry of Unlisted Options

Oilex Ltd wishes to advise that 5,000,000 unlisted options with an exercise price of $0.25 and an expiry date of 8 March 2016 have expired unexercised.

For and on behalf of Oilex Ltd

Chris Bath
Chief Financial Officer and Company Secretary

http://www.moneyam.com/action/news/showArticle?id=5228524

14 March 2016
OILEX LTD
ABN 50 078 652 632

INTERIM REPORT

31 DECEMBER 2015


CONTENTS

Directors' Report

Auditor's Independence Declaration

Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income

Condensed Consolidated Statement of Financial Position

Condensed Consolidated Statement of Changes in Equity

Condensed Consolidated Statement of Cash Flows

Notes to the Condensed Consolidated Interim Financial Report

Directors' Declaration

Independent Review Report

http://www.moneyam.com/action/news/showArticle?id=5232397

Date 18 March 2016
ASX: OEX
AIM: OEX

Oilex Appoints New MD - Jonathan Salomon

The Board of Oilex Ltd (Oilex or the Company) announces the appointment of Jonathan (Joe) Salomon, currently an independent non-executive director, as the new Managing Director of the Company with immediate effect, following the resignation of Mr Ron Miller today as a director of the Company.

Mr Salomon has over 30 years of experience in the oil and gas exploration and production business in both conventional and unconventional projects and brings specific Indian business and oil and gas expertise. He joined the board as an independent non-executive director in November 2015 and since that time has become fully familiarised with Oilex and its assets, allowing for a seamless transition.

Mr Salomon brings experience and knowledge in company management, consulting and advising, exploration and production project management, business development, new venture identification, acquisition, and strategy and risk management in both small and large companies. He was most recently General Manager for Murphy Oil first in Australia and then in Vietnam where his team was successful in securing significant value additions to the company's E&P portfolio and in managing high value work programs. Previous roles include Head of Geoscience for RISC Advisory, CEO and MD for Norwest Energy, and executive director roles for a number of ASX listed companies. Mr Salomon spent his formative years working for Ampolex Limited and Mobil (following Mobil's takeover) and LASMO.

Chairman of Oilex, Max Cozijn, said:

"The Board appreciates the significant contribution and efforts of Mr Miller, who served as the Managing Director of the Company for more than 3 years, and was also a strong contributor as a non-executive director since July 2009.

We thank Ron for managing the Company through a significant period of its development which saw the first horizontal multi-stage fracked well to be production tested in India. We wish Ron well for the future.

I would also like to this opportunity to welcome Joe's appointment to MD. Joe's recent background in managing international exploration and production projects and his track record of providing strong management oversight as well as successfully securing new business opportunities is an ideal skill set for Oilex. Joe's key focus will be to seek resolution of the issues facing Oilex and to secure value from our existing assets."

Mr Salomon commented: "I am very enthusiastic about the opportunity to serve as Managing Director of Oilex. Oilex's Indian projects have the technical and commercial potential to transform the Company and we will be seeking to extract maximum value from this.

Our Cambay Project, for example, has the potential to provide a significant contribution to the development of India's domestic onshore gas industry through the application of up to date tight gas drilling and development technologies."

In accordance with ASX Listing Rule 3.16.4, the key terms of Mr Salomon's employment are set out in the schedule to this release.

For and on behalf of Oilex Ltd

Max Cozijn
Chairman

http://www.moneyam.com/action/news/showArticle?id=5245057

8 April 2016
ASX: OEX
AIM: OEX
Commencement of Gas Production from Bhandut Field

Oilex Ltd is pleased to announce the commencement of gas production from the Bhandut Field, located onshore Gujarat, India.

The Bhandut-3 well is currently flowing at the expected stabilised rate of 0.70MMscfd (120 boepd) through a 8/64” choke. Gas produced from Bhandut-3 is initially processed at the on-site production facilities and then delivered to a third party operated gas processing plant where it is further treated to the required pipeline specification. It is subsequently compressed for entry into the high pressure gas network for delivery to an end user.

Bhandut Field

Oilex is Operator and holds 40% equity in the Bhandut Field, with Gujarat State Petroleum Corporation (GSPC) holding the remaining equity interest. Previous drilling in the Bhandut wells intersected a number of hydrocarbon zones, some of which have been produced and are now shut in. The Bhandut-3 well is producing from a previously undeveloped sandstone at a depth of 1010m at virgin reservoir pressure. This zone was flow tested by Oilex and the Joint Venture in 2013 confirming good reservoir quality with an average permeability of 124 mD and gas of good quality containing 98.9% hydrocarbons, of which 94% is methane and 1.1% nitrogen and carbon dioxide.

As this is the first production from this individual reservoir, the production will be closely monitored to facilitate a greater understanding of its potential.
Currently the JV has approval to sell hydrocarbons from this project for 3 months pending completion and approval of a field development plan.

For and on behalf of Oilex Ltd

Oilex LTD starts gas production at Bhandut field
07:25 08 Apr 2016
Jamie Ashcroft

Oilex LTD (LON:OEX) told investors it has now started gas production from the Bhandut field, in the Gujarat region of India.

The producing well, Bhandut-3, is now flowing gas at a stabilised rate of 700,000 cubic feet per day, which is equivalent to 120 barrels of oil per day. The production rate is as the company had expected, it said.

Gas produced at Bhandut is initially processed on site, before it is delivered to a third-party owned gas processing facility where it is treated in order to meet pipeline specifications.

Oilex has a 40% stake in Bhandut, in partnership with the Gujarat State Petroleum Corporation (GSPC) which owns the other 60%.

Bhandut’s production comes from a previously undeveloped sandstone reservoir, some 1,010 metres deep, at virgin reservoir pressure. It was previously flow tested in 2013.

“As this is the first production from this individual reservoir, the production will be closely monitored to facilitate a greater understanding of its potential,” Oilex said in a statement.

“Currently the JV has approval to sell hydrocarbons from this project for 3 months pending completion and approval of a field development plan.”

http://www.proactiveinvestors.co.uk/companies/news/124570/oilex-ltd-starts-gas-production-at-bhandut-field

29 April 2016
OILEX LTD
MARCH 2016

QUARTERLY REPORT

HIGHLIGHTS


CAMBAY FIELD, ONSHORE GUJARAT, INDIA

» Gas sales from Cambay-77H continue with an average gas production rate for the quarter of 248,870 scfd, 43 boepd (Oilex net 111,992 scfd, 19 boepd) and with an average associated condensate rate of 11 bopd (Oilex net 5 bopd).

» A cost cutting programme has been undertaken covering field operations and office costs in India in response to continued low oil & gas prices and the reduced activity level.

» A phased development plan for Cambay-77H and Cambay-73 is being finalised for government approval to allow continued production from Cambay-77H and to bring Cambay-73 back on line.

» Technical work is underway investigating alternative low cost drilling and development strategies to access hydrocarbon volumes present in the Eocene formation.

» Geological review work is underway to identify workover and/or new drilling opportunities in the shallower conventional Oligocene OSII formation with the possibility of combining deeper targets in one well.

» Negotiations continue with our joint venture partner to address payment of outstanding cash calls, contributions to programmed activities, and annual budget resulting in delays to planned activities and cashflows.

» A revised base budget has been submitted to the JV partner for the financial year starting April 2016.

BHANDUT FIELD, ONSHORE GUJARAT, INDIA

» Preparation for production start-up continued during the quarter.

» Gas production commenced in early April flowing at the expected stabilised rate of 700,000 scfd, 120 boepd (Oilex net 280,000 scfd, 48 boepd) through a 8/64" choke.

» The JV approved the Work Programme & Budget for Bhandut Field for the Indian financial year starting April 2016.

CORPORATE

» A cost cutting programme has been undertaken covering Perth office in response to continued low oil & gas prices and the reduced activity level.

» Oilex continues to negotiate with Zeta Resources Limited (Zeta) to resolve the current dispute. Zeta filed and served its reply and defence to Oilex's cross claim in the Federal Court.

» Brad Lingo, who has 30 years of experience in the industry was appointed as an independent non- executive director in February.

» Jonathan Salomon, was appointed as Managing Director following the resignation of Ron Miller.

***Full Report from link below***

http://www.moneyam.com/action/news/showArticle?id=5331736

24 May 2016
ASX: OEX
AIM: OEX

Executive Management Changes

Oilex Ltd advises that Chief Financial Officer (CFO) and Company Secretary Mr Chris Bath has resigned from the Company with immediate effect.

Mr Cathal Smith has been appointed as interim Company Secretary effective immediately. Mr Smith is retained by Oilex and has served in the capacity of Legal Counsel & Commercial Manager for the last 3 years including a period as interim Company Secretary.

During the intervening period while a replacement is being appointed, commercial and administrative functions will continue to be managed by the existing Financial Controller and the finance and commercial team.

Managing Director of Oilex, Joe Salomon, said:

"Chris has worked tirelessly for the Company since his appointment in October 2014, and has greatly assisted Oilex in developing its projects and managing its capital raisings and financial administration requirements. This has been undertaken against a challenging background for the industry. We would like to thank Chris for his consistent efforts and wish him well in his future endeavours. A search for a replacement CFO and Company Secretary is currently underway."

http://www.moneyam.com/action/news/showArticle?id=5347034

8 June 2016
ASX: OEX
AIM: OEX

Zeta Legal Proceedings Settlement

As previously announced, Oilex Ltd (Oilex or the Company) has been engaged in discussions with Zeta Resources Limited (Zeta) to explore options for a commercial resolution of the legal proceedings between the parties.

Oilex is pleased to announce that it has now reached agreement with Zeta that ends the legal proceedings between the parties. The terms of the settlement are that each party will no longer pursue its claim against the other, with the legal proceedings to be dismissed on a no admission of liability basis. Oilex has also agreed to make a payment to Zeta on account of costs of the litigation of $490,000.

In reaching this settlement with Zeta, Oilex has taken into account the significant costs and inherent uncertainty of litigation, and the substantial time commitments and distraction that the litigation presents for the board and management.

Managing Director of Oilex, Joe Salomon, said;

"Reaching this settlement means Oilex can focus fully on advancing its operations, which is in the best interests of all shareholders. Oilex looks forward to progressing the Cambay Joint Venture and the other assets in the Oilex portfolio and will keep shareholders informed as matters progress."

http://www.moneyam.com/action/news/showArticle?id=5356255

Link to the March 2016 Quarterly Report published 29tth April:

https://www.oilex.com.au/docs/default-source/reports---quarterly/160429-march-2016-quarterly-report.pdf?sfvrsn=0

10 June 2016
ASX: OEX
AIM: OEX

Appointment of Chief Financial Officer and Company Secretary

Oilex Ltd is pleased to announce the appointment of Mr Mark Bolton as Chief Financial Officer (CFO) and Company Secretary, with effect from 10 June 2016.

Mark has worked as CFO and Company Secretary for a number of resource companies since 2003. Prior to that he worked with Ernst & Young stepping down as Executive Director in Corporate Finance. Mark has a Bachelor of Business Degree in Accounting and Finance. His strengths are in the commercial management and financing of resource projects internationally. Coupled with this, he has extensive experience in capital and equity markets in a number of jurisdictions including ASX and AIM.

Managing Director of Oilex, Joe Salomon, said:

"We are delighted to announce Mark's appointment. He comes very highly recommended based on his recognised strong performance and achievements and the Board welcomes him to the senior management team. We look forward to his contribution to our business as we progress the development of our existing assets and as we review additional opportunities for growth. I would also like to thank Cathal Smith for his contribution as interim Company Secretary".

http://www.moneyam.com/action/news/showArticle?id=5358219

24 June 2016
ASX: OEX
AIM: OEX

Oilex Corporate Update

· Oilex maintains focus on unlocking Cambay's multi TCF onshore gas resource potential

· Plans for new EP-III/IV vertical well underway

· Cambay Resource Update


Oilex Ltd (the Company) reaffirms its commitment to unlocking the multi TCF in-place tight gas potential in its onshore Cambay Block, Gujarat state India. The Company is at an advanced stage in completing a detailed working plan to take the Cambay project forward and the results to date support a vertical well targeting recovery of core from the Eocene siltstone (EP-IV or Y Zone).

A vertical well, will seek to obtain core samples from the EP-IV Zone reservoir for drill and fraccing optimisation studies. This is essential prior to drilling a horizontal extension for potential later fraccing and exploitation of the Eocene siltstones. The well will also have the potential to test the shallower, productive, OS-II conventional reservoir or may be later used to frac and test the EP-IV based on results of the core. The detailed planning for this well is still being finalised and is subject to JV/Budget approvals. This approach allows the Company to take advantage of the lower cost vertical well drilling rates in India at present.

Financing


As at 31 May 2016, the Company's cash resources were approximately A$6.3 million.

The Company continues to engage with its joint venture partner Gujarat State Petroleum Corporation (GSPC) to resolve outstanding cash calls and gain approval of the 2016/2017 work programme and budget. The resolution of these matters is essential for the Company to extract maximum value from the Cambay Field. Various approaches to progress work at Cambay are being considered.

Whilst the working plans for the field are being finalised and approved, Oilex as operator, continues to bear the ongoing costs of the joint venture.

Production Update

Production from the block for the month of May was approximately 42 boepd (gross) with the bulk of production coming from the Cambay-77H EP-IV reservoir. Both Cambay-73 and Cambay-77H have been shut-in while awaiting government approval for the continued production of test gas from these wells.

Production at Bhandut-3 well averaged ~120 boepd in May. The field is being closely monitored while an extension of the permitted production plan is being approved. While tubing head pressure at the well has been maintained, some formation water has been identified with the gas.

Resources Update


In April 2015, the Company tabled the reserve and contingent resource volumes associated with the EP-III/IV (X and Y Zones) resulting from the review undertaken by third party certifier, RISC. Since that time, a number of key factors have changed including:

i) a change in economic assumptions related to lower gas prices being realised because of the world wide fall in oil and gas prices;

ii) Oilex's joint venture partner's lack of approval of ongoing work;

iii) the resultant deferral in project timing which pushes the recovery of reserves to beyond the current term of the PSC. Note that the Company can apply for two PSC extension periods of 5 years each.

On this basis, RISC has recommended that the reserve volumes be re-classified to contingent resource. It should be noted that the volume of hydrocarbons has not been amended. The updated recoverable hydrocarbon volumes are tabulated below:

***See Link for full Details***

Table shows Oilex Net Working Interest (45%) Reserves and Contingent Resources

Reserves in Y Zone have been reclassified Contingent Resources

Refer to ASX announcement 16/04/2015 for further details

Commenting on the update Mr Salomon said "Last week's agreement with Zeta Resources Limited to end legal proceedings between the parties has provided Oilex with a clearer path forward and was a key priority for us. The revitalised management team can now gather momentum on the path to the potential development of Cambay that reflects what was learned from the previous wells. We look forward now to resolving issues with GSPC and progressing work at Cambay".

http://www.moneyam.com/action/news/showArticle?id=5366364

27 June 2016
ASX: OEX
AIM: OEX

Investor Presentation - June 2016


Oilex Ltd advises that a copy of an Oilex Investor Presentation dated June 2016 can be viewed by clicking on the below link.

http://www.rns-pdf.londonstockexchange.com/rns/2809C_-2016-6-27.pdf

http://www.moneyam.com/action/news/showArticle?id=5366921

28 June 2016
ASX: OEX
AIM: OEX

Expiry of Unlisted Options

Oilex Ltd wishes to advise that 500,000 employee options with an exercise price of $0.15 and an expiry date of 27 June 2016 have expired unexercised.

Attached is an Appendix 3B.

http://www.moneyam.com/action/news/showArticle?id=5367737

29 JULY 2016

OILEX LTD - JUNE 2016 QUARTERLY REPORT

http://www.moneyam.com/action/news/showArticle?id=5387942

Oilex reaffirms commitment to Cambay Block project
10:55 29 Jul 2016

In its quarterly results highlights for the June, the resources exploration group said it was close to executing a detailed strategy to take the Cambay project forward.



Oilex Ltd (LON:OEX) reaffirmed its commitment to unlocking the multi TCF in-place tight gas potential at its onshore Cambay Block project in India.

In its quarterly results highlights for the June, the resources exploration group said it was close to executing a detailed strategy to take the Cambay project forward.

It said the results to date supported a vertical well with the dual objective of targeting recovery of core from the Eocene siltstone and developing the un-depleted OS-II reservoir zone.

Gas sales from Cambay-77H continued with an average gas production rate for the quarter of 26 boepd (net 12 boepd) and with an average associated condensate & oil rate of 6 bpd (net 3 bpd).

Negotiations continued with the group’s joint venture partner to address payment of outstanding cash calls, contributions to programmed activities and approval of the annual budget resulting in delays to planned activities.

The joint venture and Indian authorities approved the work programme & budget for the Bhandut Field for the Indian financial year starting April 2016.

Test Gas Production at the group’s Bhandut-3 well, which commenced in April, 87 boepd (the 35 boepd) and with an average associated condensate rate of 18 bpd (net 7 bpd).

During the quarter, the joint venture partner released US$302,000 towards payment of outstanding cash calls for the Indian financial year.

During the quarter Oilex reached a settlement with Zeta Resources Limited that ended legal proceedings between the parties.

The cash balance stood at US$5.2mln.

Josh Allsopp

17 October 2016
 
ASX: OEX
AIM: OEX
 
Oilex Reaches Agreement with GSPC on Cambay-78 Well
 
Oilex Ltd (the Company) is pleased to announce it has executed an agreement with its Joint Venture partner, Gujarat State Petroleum Corporation Limited (GSPC) in the Cambay Field Production Sharing Contract (PSC) on the next planned vertical well in the Cambay Field (Well C-78). The signing of the agreement is a key milestone towards the proposed drilling of Well C-78, unlocking value and possibly securing an extension to the Cambay Field PSC term.
 
In addition to testing the shallower OS-II zone, the well is designed to obtain core samples for the EP-IV zone reservoir which are needed for future drilling, completions and stimulation optimisation. The Company has an independently verified multi-TCF resource in the EP-III/IV reservoirs at Cambay.
 
As a result of the agreement, GSPC and Oilex have agreed that Oilex will drill, test, complete, commission and, subject to successful operations, commence commercial production from the proposed Well C-78. Oilex will be solely liable for all expenditure associated with Well C-78, and, subject to GSPC exercising its back in right, Oilex will be entitled to sell 100% of production and receive 100% of revenue from Well C-78.
 
GSPC shall be entitled to back in to Well C-78 within 365 days from the commencement of commercial production from Well C-78 by written notice to Oilex. If GSPC elects to exercise its back in right, it will pay to the Company 55% of any unrecovered expenditure, plus a small mark-up. If GSPC does not exercise its back in right within the 365 day period, Well C-78 will continue to be ring fenced for the exclusive benefit of Oilex for the balance of the PSC term and any extension thereto. Oilex has also agreed to impose limits on recoverable expenditure for operating costs should the well commence commercial production. The limits are consistent with the Company's expected operating costs for Well C-78.
 
Except for the above, all other activities associated with Well C-78 will be undertaken in accordance with the Joint Operating Agreement (JOA) terms and conditions. The parties have also undertaken to fast-track any required consents and or approvals required under the JOA to effect Well C-78.
 
The Company considers the successful execution of Well C-78 is required to progress towards the potential development of the multi-TCF unconventional gas opportunity at the Cambay Field. The drilling of Well C-78 is also essential for the Company to prepare and submit a Field Development Plan to the Government of India by September 2017 to obtain an extension to the PSC term. The current PSC term expires on 23 September 2019.
 
Commenting on the Agreement, Managing Director Jonathan Salomon said the Company was pleased to have to have reached an agreement with its Joint Venture partner to progress the drilling of Well C-78.
 
"This reflects a significant milestone in the ability of Oilex to unlock the Cambay Field potential and assist in potentially securing an extension to the PSC term" he said. "The agreement reinforces our determination to add value for shareholders by progressing the development of this key asset."

http://www.moneyam.com/action/news/showArticle?id=5432681

24 October 2016
 
ASX: OEX
AIM: OEX
 
Notice of Annual General Meeting
 
Oilex advises that its Annual General Meeting, which will be held at The Park Business Centre, 45 Ventnor Avenue, West Perth, Western Australia on Wednesday 23 November 2016 at 10.00am.
 
The Notice of Annual General Meeting, including an Explanatory Memorandum and Proxy Form, has been dispatched to shareholders today, together with the 2016 Annual Report.

http://www.moneyam.com/action/news/showArticle?id=5436503

24 October 2016
 
ASX: OEX
AIM: OEX
 
2016 Annual Report to Shareholders
 
Oilex Ltd (the Company) advises the Annual Report for the year ended 30 June 2016 is available and will be despatched to shareholders shortly.
 
A copy of the Oilex Annual Report for year ended 30 June 2016 can be viewed by clicking on the link below.
 
http://www.rns-pdf.londonstockexchange.com/rns/2794N_-2016-10-24.pdf

http://www.moneyam.com/action/news/showArticle?id=5436519
 

24 October 2016
 
OILEX LTD - SETEMBER 2016 qUARTERLY rEPORT
HIGHLIGHTS

http://www.moneyam.com/action/news/showArticle?id=5436564

23 November 2016

Waiver of ASX Listing Rule 10.13.5
 
Oilex Ltd refers to its announcement of 24 October 2016 in relation to its 23 November 2016 Annual General Meeting Notice of Meeting.
 
The Company applied to the ASX for a waiver of Listing Rule 10.13.5 in relation to Resolution 3 Approval of Managing Director Special Funding and Retention Awards.
 
Pursuant to Listing Rule 10.13.5 the issue price of the securities must be included in the Notice of Meeting (Notice).
 
The Company is pleased to advise the ASX on 18 November 2016 granted the requested waiver to permit the Notice to approve the issue of $100,000 worth of ordinary shares (Award Shares) to the Managing Director, Mr Jonathan Salomon, without an issue price, subject to the following conditions:
 
1.1          The Notice states that the number of Award Shares to be issued to Mr Salomon will be calculated based on the volume weighted average price of the underlying shares for the 20 business days on which the shares traded prior to the date of the Company's Annual General Meeting (AGM).
 
1.2          The Company announces the issue price of the Award Shares prior to the AGM.
 
The Company has calculated the issue price of the Award Shares at $0.0077 and accordingly 12,987,013 Oilex ordinary shares will be issued to Mr Salomon upon shareholder approval.
 
For and on behalf of the Board
 
Mark Bolton
Chief Financial Officer and Company Secretary

23 November 2016

Chairman's Address to Shareholders
 
Dear Shareholder
 
As you know, the 2016 financial year has been an extremely challenging year for Oilex and its shareholders, resulting in a loss before income tax of $36 million, primarily affected by non-cash impairment of exploration and development assets of $21.6 million, and reduced recovery of costs from Joint Ventures and costs associated with the Zeta Resources Limited litigation.  Against a back drop of a fifteen-year low in oil prices, the Company has had to divert much of its attention from the core business of developing value from its assets to addressing significant joint venture issues in India, costly litigation associated with its last capital raising, and  resetting the technical direction at Cambay, in association with lower than expected production rates at its most recent wells and delays associated with joint venture funding contribution to ongoing project activities.
 
Despite these hurdles, the Company continues to be confident in, and committed to unlocking, the multi TCF in-place tight gas potential in its onshore Cambay Block, Gujarat State in India.  To this end, a new vertical well is planned which is essential to determining the optimal formula to underpin any long term commercial development of the substantial undeveloped gas opportunity at Cambay.  The next phase of the work programme is designed to address the identified technical and operational risks and is aimed at regaining the momentum behind the Company's core unconventional gas project at Cambay. Planning and preparation continues for the drilling of the Cambay-78 vertical well scheduled for the first half of next year, with the dual objective of developing the un-depleted OS-II sand and to obtain core samples from the EP-IV Zone reservoir for drilling and stimulation studies, in addition agreement has been reached with our JV Partner GSPC for Oilex to drill Cambay-78 on a sole fund/sole reward basis. 
 
The growth in energy demand in India underpins a strong business case for the Joint Venture partners to the Cambay PSC.  India is home to 18% of the world's population yet uses only 6% of the world's primary energy.  This is despite its energy consumption having almost doubled since 2000.  Domestic gas production continues to decline with the growing imbalance being filled by the rapid expansion of LNG imports.
 
Oilex believes that India has large undeveloped unconventional potential. Limited exploitation, to date, provides a significant opportunity for the discovery and commercial development of these hydrocarbon resources.  Oilex has ten years' operating experience in India with a strong local team.  Under the revamped leadership team, the Company is focussed on leveraging this opportunity for the benefit of our stakeholders and partners.
 
Reflecting the changes in the industry environment and the project status, your Board has made the necessary changes to reposition Oilex for a strong future.  Besides significantly reducing expenditures, the Company has also restructured its board and senior executive management team during the year.
 
The Company is actively engaged in resolving issues associated with the Cambay joint venture funding requirements and the ongoing funding and ownership structure, which has necessitated that as Operator the Company has absorbed certain costs to maintain the viability of this joint venture, while developing an ongoing strategy to resolve these issues.  While planning for the C-78 well is underway, the Company continues to actively evaluate alternative approaches and cost structures to advance the project.
 
Oilex is also reviewing opportunities in addition to rationalising its exposure to existing projects.
On behalf of the Board I wish to record our appreciation for the support of our executive management and staff, Joint Venture partners, contractors, local communities, shareholders and stakeholders during a difficult year and look forward to unlocking the key to the sustainable commercialisation of the unconventional hydrocarbon resources within the Cambay project. In particular, we are appreciative of the support of our major shareholders who have elected to be generally supportive of the resolutions tabled at this AGM.
 
We look forward to improving our performance and a better year ahead.
 
Best Regards
 
Max Cozijn
Chairman

http://www.moneyam.com/action/news/showArticle?id=5453371

13 December 2016
 
ASX: OEX
AIM: OEX
 
Oilex tenders for additional 55% interest in Cambay PSC
 
Oilex Ltd (the Company) is pleased to advise that it has participated in a formal tender process submitting a conditional offer for an additional 55% interest in the Cambay PSC (Cambay). Oilex has submitted the offer in response to a competitive bid process initiated by Gujarat State Petroleum Corporation Limited (GSPC) for the possible disposal of its interest in Cambay. If successful in the tender process, Oilex would increase its current 45% interest to 100% of Cambay.
 
In addition to GSPC's agreement to any potential sale, Indian regulator approvals will be required to effect the sale/transfer of GSPC's interest in Cambay. 
 
Pursuant to the Cambay JOA, Oilex is the Operator and holds a pre-emptive right in respect of the possible sale of GSPC's interest in Cambay to a third party.
 
Pursuant to the tender process, Oilex will consider its strategic options for Cambay in order to realise value for shareholders.  The Company will continue to update the market on any material developments.
  
Joe Salomon
Managing Director

http://www.moneyam.com/action/news/showArticle?id=5464623

30 January 2017 
ASX: OEX
AIM: OEX
 
Investor Presentation - Jan/Feb 2017
 
Oilex Ltd advises that a copy of an Oilex Investor Presentation dated Jan/Feb 2017 can be viewed by clicking on the below link.
 
http://www.rns-pdf.londonstockexchange.com/rns/4375V_1-2017-1-30.pdf
 

23 February 2017 
ASX: OEX
AIM: OEX
 
Oilex Appoints New Chairman and Commences Board Strengthening
 
Oilex Ltd (the Company) advises that Mr Max Cozijn has stepped down as Non-Executive Chairman of the Company. 
 
Mr Brad Lingo has agreed to act as Non-Executive Chairman in an interim capacity during this transition period.  Mr Lingo was appointed to the Board as a Non-Executive Director on 11 February 2016.  He is an experienced international resource & energy executive with a proven track record of successfully building companies in the upstream and midstream oil & gas energy sectors. Mr Lingo was recently Managing Director and CEO of Drillsearch Energy Limited and is currently the Managing Director and CEO of Elk Petroleum Limited.
 
The Company also confirms that it has initiated a formal search process to identify a potential new Chairman and additional Non-Executive Directors to further strengthen the Board. Mr Cozijn will continue as a Non-Executive Director.
 
The board wishes to express its thanks to Mr Cozijn for his contribution and dedication to the Company in his role as its founding Chairman.
 
Commenting on the update Mr Lingo said "I look forward to the expanded role as the Company gains momentum in 2017 and seeks to maximise shareholder value from its existing Indian assets and also capitalise on new opportunities in an improving energy market."

http://www.moneyam.com/action/news/showArticle?id=5500927

Oilex Ltd - Trading Halt Request
 
In accordance with ASX Listing Rule 17.1 Oilex Ltd (ASX: OEX, AIM: OEX) hereby requests an immediate trading halt on the Company's securities from the commencement of trading today, 13 March 2017.

In accordance with Listing rule 17.1, Oilex provides the following information:
a) The trading halt is requested pending an announcement by Oilex in relation to a proposed capital raising;
b) Oilex requests the trading halt to remain in place until the earlier of such time as it makes an announcement to the market in relation to the capital raising and the commencement of trading on Wednesday 15 March 2017; and
c) Oilex is not aware of any reason why the trading halt should not be granted or of any other information necessary to inform the market about the trading halt.

Yours faithfully
  
Mark Bolton
Chief Financial Officer and Company Secretary

http://www.moneyam.com/action/news/showArticle?id=5511054

INTERIM REPORT 
31 DECEMBER 2016


http://www.moneyam.com/action/news/showArticle?id=5513589

UK Investor Show 1st APRIL 2017

•2,500+ people attended in 2016
•More than 120 PLCs to man stalls. present and explain their business

Oilex are at this event:

https://www.ukinvestorshow.com/

https://www.ukinvestorshow.com/companies/

31 March 2017
 
ASX: OEX
AIM: OEX
 
Investor Presentation - April 2017
 
Oilex Ltd advises that a copy of an Oilex Investor Presentation dated April 2017 can be viewed by clicking on the below link.
 

http://www.rns-pdf.londonstockexchange.com/rns/1046B_-2017-3-31.pdf 
 
 
For and on behalf of Oilex Ltd

3 April 2017
ASX: OEX
AIM: OEX

Notice of General Meeting

Oilex advises that a General Meeting, will be held at The Park Business Centre, 45 Ventnor Avenue, West Perth, Western Australia on Wednesday 3 May 2017 at 10.00am.

Attached is a copy of the Notice of General Meeting, including an Explanatory Memorandum and Proxy Form, dispatched to shareholders today.

https://www.oilex.com.au/docs/default-source/announcements/170403-notice-of-general-meeting.pdf?sfvrsn=0

4 April 2017
ASX: OEX
AIM: OEX
 
Oilex Engagement via Vox Markets
 
Oilex Ltd (the Company) is pleased to announce, that to facilitate its commitment to transparent and consistent engagement with all shareholders, Oilex has engaged the services of Vox Markets.

The Vox Markets service provides a sophisticated investment community platform with aggregated information from a variety of sources, both regulatory and unregulated.

To access information on Oilex through the Vox platform, investors should download the Vox Markets app www.voxmarkets.co.uk/app and follow 'OEX' at www.voxmarkets.co.uk/company/OEX to receive notifications when Oilex feature in the press, release an RNS or feature on a podcast interview.

http://www.moneyam.com/action/news/showArticle?id=5525828

21 April 2017 
ASX: OEX
AIM: OEX
 
Award of Key Contracts for Cambay-23z Core Analysis
 
Oilex Ltd (the Company) is pleased to announce the award of two key contracts to Schlumberger and Baker Hughes as part of its 2017 work programme at the Cambay PSC. Schlumberger and Baker Hughes will advise on the optimal well and stimulation design required to achieve potential commercial flow rates.
 
The Company has a significant multi TCF gas resource at the Cambay PSC in the EP-IV tight siltstones that requires drilling optimisation and stimulation technologies to achieve commercial flow rates. Both Schlumberger and Baker Hughes are global leaders in the stimulation of tight gas reservoirs and their selection follows a competitive tender process.
 
Schlumberger has been appointed to provide geomechanical, fluid sensitivity and proppant embedment testing on the Cambay-23z core along with their recommendations on future technical work. The data from these tests will be used to carry out the geomechanical modelling required for optimisation studies.
 
Baker Hughes has been appointed to provide detailed geomechanical modelling to assess and recommend optimised drilling and stimulation solutions to maximise production from the EP-IV reservoir.  In addition to providing a functional geomechanical model, Baker Hughes will provide specific recommendations on fluid chemistry and proppant optimisation required for the stimulation of any future wells.
 
The studies have commenced and are anticipated to be completed within approximately 3 months. The analysis of the core from Cambay-23Z is essential in the planning of both future wells and the stimulation process at the Cambay PSC.
 
Mr Joe Salomon said "We are fortunate to be working with world class tight gas experts, Schlumberger and Baker Hughes. Their assistance is important to unlocking the commercial success of the large gas resource at the Company's Cambay project."
  
Joe Salomon
Managing Director

http://www.moneyam.com/action/news/showArticle?id=5534859

28 April 2017 
ASX: OEX
AIM: OEX
 
Mobilisation of Workover Rig at Cambay
 
Oilex Ltd (the Company) is pleased to announce that the workover rig has been mobilised to C-70 at the Cambay PSC (Cambay). The Company plans to complete workovers of two wells, C-70 and C-23z, during May 2017. 
 
The workovers are designed to test production flow rate potential from the OS-II reservoir in areas that the Company anticipates to have remained unswept by earlier production. While the expectations are for modest flow rates, a successful outcome will provide support for a field development plan in regards to the application to extend the term of the PSC to 2029 or the economic life of the field, whichever is earlier.  
 
The C-70 well has an established pipeline connection in place to the existing Cambay processing facility.  A number of options to sell gas from the workovers are currently being evaluated.
 
As agreed with GSPC, the Joint Venture partner, Oilex is to fully fund the workover expenditure and receive all revenue until these costs are recovered. Once costs are recovered, Oilex and GSPC will revert to their participating interests of revenue and expenditure.
 
Joe Salomon, Managing Director, commented:
 
"There are twin objectives for the workovers; to deliver revenue from production whilst also supporting our application to extend the term of the Cambay PSC. While we expect to see relatively modest flow rates from the workovers, the produced gas effectively leverages our existing infrastructure." 
 
Joe Salomon
Managing Director

http://www.moneyam.com/action/news/showArticle?id=5539556

Missed the Q Report Doh!

28 April 2017
oilex ltd

MARCH 2017 QUARTERLY REPORT
 
HIGHLIGHTS

CAMBAY FIELD, ONSHORE GUJARAT, INDIA
»  Oilex received partner and government approval for a revised work programme taking advantage of a lower cost opportunity to analyse core data from existing well C-23z and carry out two workovers.
»  Procurement process for both the core analysis and the two workovers substantially completed.
»  Subsequent to the end of the quarter, Schlumberger and Baker Hughes awarded contract to carry out the C-23z core analysis and studies.
»   Mobilisation of workover rig for C70 and C-23z completed in late April 2017.
»  Confirmation received from government in April 2017 to recommence regular production from C-73 and C-77H.
»   Joint Venture and regulatory approvals obtained for 2016/17 and 2017/18 Work Programme and Budget.
»  During the quarter, the Joint Venture partner released the equivalent US$69,800 (gross) against outstanding cash calls.

BHANDUT FIELD, ONSHORE GUJARAT, INDIA
»   Following technical and economic reassessment, Bhandut-3 was shut-in from 6 October 2016 due to increased water production.
»   During the quarter, the Joint Venture partner released equivalent US$24,000 (gross) against outstanding cash calls.
»   Joint Venture and regulatory approvals obtained for 2016/17 and 2017/18 Work Programme and Budget.
»   Potential opportunities for sale of the PSC continue to be explored.

CORPORATE
»  Two tranche capital raising of approximately £1.1 million (A$1.78 million) to fund work programme at Cambay. Tranche 1 completed in March 2017 with Tranche 2 pending shareholder approval.
»  General Meeting of Shareholders to be held on 3 May 2017 to consider Tranche 2 of capital raising of £0.43 million (A$0.69 million).
»  Mr Brad Lingo appointed as Non-Executive Chairman while Mr Max Cozijn, the previous Chairman, continues as Non-Executive Director.
»   Mr Jonathan Salomon's contract as Managing Director of the Company extended by a further year.
»   Cash resources at 31 March 2017 were $1.83 million.

OPERATIONS REVIEW
OVERVIEW
The Company's primary objective is to maximize shareholder value from its principal asset at Cambay, located onshore Gujarat State in India.
To that end, Oilex continues to evaluate and implement a range of technical programme options to progress the main objective of accessing a multi-TCF gas resource present in siltstones in the EP-IV reservoir.  North American unconventional drilling, completion and stimulation technologies have been applied by the Joint Venture over the last six years with positive but commercially modest results and now work is underway to optimise results for future work programmes. The current technical work programmes focus on:
·       Extracting geological and engineering information from core data with associated studies to match advanced North American drilling and completion technologies with the local basin geology of the EP-IV, and
·        Two planned workovers of existing wells C-70 and C-23z aimed at gas production from the shallower OS-II reservoir in unswept areas in a parallel effort to develop the block at multiple levels.  As agreed with GSPC, the Joint Venture partner, Oilex is to fully fund the workover expenditure and receive all revenue until these costs are recovered. Once costs are recovered, Oilex and GSPC will revert to their participating interests of revenue and expenditure.
 
If successful, this work will assist in finalising an application for extension to the Cambay PSC required to be submitted to the Government of India during September 2017.

HEALTH, SAFETY, SECURITY AND ENVIRONMENT
No lost time incidents recorded during the quarter. Completed first aid and basic firefighting training of employees and their families in India.

***More from Link Below***

http://www.moneyam.com/action/news/showArticle?id=5539575

12 May 2017 
ASX: OEX
AIM: OEX
 
Bhandut and Cambay Updates
 
Oilex Ltd (the Company) is pleased to announce that gas production has re-started at the Bhandut Field after being shut-in for 7 months due to increased water production.  Gas production has restarted at a rate of 150MSCFD with flow rates controlled to minimise produced water.
 
In the Cambay field, workovers are continuing on wells C-70 and C-23z.  The workover rig has completed its work on C-70 and is now working on C-23z.  At C-70 water lifting has been underway prior to a possible flow test operation.

http://www.moneyam.com/action/news/showArticle?id=5548100
 

23 May 2017
 
ASX: OEX
AIM: OEX
 
Cambay Production Update - C-73 and C-77
 
Oilex Ltd (the Company) is pleased to announce that gas production has re-started from C-77 at the Cambay Field.  Gas production has restarted at a rate of 250MSCFD from the Eocene with flow rates at current contracted gas sales volumes.  The current gas sales agreements will be renegotiated to take any additional produced volumes as and when required.  The Company plans to cycle production between C-77 and C-73 as part of its resovoir management.

http://www.moneyam.com/action/news/showArticle?id=5553791

6 June 2017 
ASX: OEX
AIM: OEX
 
Cambay PSC Workover and Project Update
 
Oilex Ltd (the Company) provides the following update on the field workover programme and ongoing activities.
 
Workover Programme
 
The field programme involving the workover of two older wells C-70 and C-23z to test potential production flow rates from the OS-II reservoir has been completed.  The results on C-70 are currently under review with the well returning small volumes of both oil and gas.  A sustained flow has not yet been confirmed and the well is being monitored for clean-up flow.  The Company is considering whether further stimulation is warranted.  The work on C-23z has resulted in an observed water influx into the well bore, however, no hydrocarbons have been recovered. 
 
The field program has been completed under the highest HES controls and has come in under budget.
 
EP-IV Core Analysis
 
Historical core samples from C-23z are currently being analysed and tested by Schlumberger with completion of the work and delivery of results anticipated later in July.  Baker Hughes is currently completing an initial desk study on EP-IV wells in the PSC in advance of undertaking evaluation work to provide direction on the optimal stimulation methodologies for future drilling and testing.
 
Gas Production
 
Cambay gas production is currently being achieved from the C-77H well at approximately 250,000 cubic feet per day.
 
The Bhandut Field is continuing to flow gas at approximately 250,000 cubic feet per day from the Bhandut-3 well.  Water production rates are increasing with the water gas ratio presently at approximately 40%. 
 
Cambay Joint Venture
 
The Company is currently in discussions with several potential partners who are undertaking data room reviews of the EP-IV tight gas potential at Cambay.  Should any change in the structure of the joint venture eventuate, a restructure of the Company's ongoing funding commitment to the Cambay Project may ensue.
 
Work on the Field Development Plan is continuing using both in-house personnel and contracted specialists as part of the application for an extension of the PSC term beyond September 2019.  The application is required to be lodged by September 2017.
 
The Company continues to maintain a constructive dialogue with GSPC in respect of resolving the outstanding cash calls.  

Bhandut Joint Venture
 
Upside exploration potential has been identified on the PSC and the Company is in discussions with a potential buyer for its interest in the Bhandut field.
 
New Business Opportunities
 
The Company continues to evaluate potentially value accretive new business opportunities ranging from discovered undeveloped resources with exploration upside to existing production.  In general, we note the frequency and quality of available opportunities in the sector as presented to the Company has improved markedly in recent months. 
 
Managing Director of Oilex Joe Salomon, said;
 
"The Company remains active in all areas and we continue to work closely with our Indian partner and the Government of Indian, to ensure that the full potential of the Cambay Project can be realised. In addition, we are reviewing several new business opportunities internationally."

http://www.moneyam.com/action/news/showArticle?id=5562160

18 June 2017 
 
Mr Wade Baggott
ASX Limited
Level 40, Central Park
152-158 St Georges Terrace
PERTH WA 6000
 
By email: tradinghaltsperth@asx.com.au
 
Dear Mr Baggott
 
Oilex Ltd - Trading Halt Request
 
In accordance with ASX Listing Rule 17.1 Oilex Ltd (ASX: OEX, AIM: OEX) hereby requests an immediate trading halt on the Company's securities from the commencement of trading Monday 19 June 2017.

In accordance with Listing rule 17.1, Oilex provides the following information:

a)   The trading halt is requested pending an announcement by Oilex in relation to the joint venture cash calls owing by its joint venture partner;
b)   Oilex requests the trading halt to remain in place until the earlier of such time as it makes an announcement to the market in relation to the joint venture cash calls owing and the commencement of trading on Wednesday 21 June 2017; and
c)    Oilex is not aware of any reason why the trading halt should not be granted or of any other information necessary to inform the market about the trading halt.
Yours faithfully
 
 
Mark Bolton
Chief Financial Officer and Company Secretary

http://www.moneyam.com/action/news/showArticle?id=5569506

19 June 2017 
ASX: OEX
AIM: OEX
 
Partial Receipt of Outstanding Cash Calls
 
Oilex Ltd (the Company) is pleased to announce material progress in the resolution of the outstanding cash calls owing to the Cambay and Bhandut PSCs.
 
During the current quarter to date, the Joint Ventures have received the equivalent of US$1.41m million gross in regards to outstanding cash calls from its joint venture partner.
 
After the above-mentioned receipts, the remaining aggregate outstanding cash call balance for the Cambay and Bhandut PSCs is the equivalent of US$5.68m. The Company continues to maintain a constructive dialogue with its joint venture partner to resolve the remaining outstanding cash call balances.
 
 
Managing Director of Oilex, Jonathan Salomon, said;
 
"We continue to work closely with our partner and are pleased with the progress in resolving outstanding cash calls.  We look forward to further cooperation with our Indian partner and the Government of India in pursing the development of the Cambay project."
 
For and on behalf of Oilex Ltd
 
 
Jonathan Salomon
Managing Director

http://www.moneyam.com/action/news/showArticle?id=5569505

1 July 2017

OILEX LTD
JUNE 2017 QUARTERLY REPORT

http://www.moneyam.com/action/news/showArticle?id=5607015

24 August 2017

ASX: OEX
AIM: OEX


Core Analysis and Review Confirms Cambay Potential

Oilex Ltd (the Company) is pleased to announce that the C-23z core analysis has been completed. The analysis, by Schlumberger and Baker Hughes has confirmed that the EP-IV tight siltstones at Cambay can be effectively stimulated, and that commercial gas flow rates are potentially achievable.

The Company has a significant multi TCF gas resource at the Cambay PSC in the EP-IV tight siltstones that requires drilling and stimulation optimisation technologies to achieve commercial flow rates. Schlumberger and Baker Hughes were appointed to complete the core analysis and to report on the reasons for under-performance of past wells. The purpose of their work was to identify any substantial impediments to achieving potential commercial flow rates and to advise on the optimal well and stimulation design required to take the project forward.

Both Schlumberger and Baker Hughes are global leaders in the stimulation of tight gas reservoirs. Schlumberger was appointed to provide geomechanical testing, fluid sensitivity testing and proppant embedment testing on the core. The data from these tests along with past well and production histories were incorporated into a review by Baker Hughes to assess the suitability of the reservoir rocks for drilling and stimulation and to also identify methodologies to maximise production from the EP-IV reservoir.

The key observations from the expert core testing and optimisation analysis are as follows:

· The reservoir rocks have the essential characteristics for the development of suitable fractures required to increase exposure to the reservoir and to increase gas flow rates under production. This substantively removes a concern over relative rock strength in the Cambay being lower than many North American projects.

· Placement of the fractures within the overall reservoir section is critical to achieve optimum fracture length and direction and to ensure that the factures are constrained within the reservoir section. On prior vertical wells the fractures propagated vertically rather than the laterally within the reservoir, thus providing little benefit.

· Reservoir temperature and pressure offer no specific challenges to the application of the stimulation technologies.

· Clays within the EP-IV reservoir rocks are subject to modest swelling which can be effectively ameliorated with readily available fluid additives.

· Proppant selection is important to maintain the necessary conductivity for sustained production. Readily available higher strength proppants than used previously are recommended.

· Given the relative softness of the reservoir, it is critical to avoid over-flushing of proppant, which in past wells resulted in the loss of communication between fractures and wellbore, leading to significant production under-performance. This does not present any major technical challenge, instead requires active planning and management during stimulation operations.

· Different stimulation fluids are required to optimise the stimulation phases and ensure effective initial fracture propagation and subsequent proppant placement whereas prior wells used a single gel based fluid.

Mr Joe Salomon said "We are very pleased that the review and analysis has confirmed the substantive potential of the EP-IV reservoir at Cambay, and that it has provided specific solutions to be employed in the execution of future drilling and well completion programmes. These findings have confirmed the importance of implementing a tailored approach to unlocking the potential commercial success of the large gas resource at the Company's Cambay project."

http://www.moneyam.com/action/news/showArticle?id=5638619

29 August 2017
ASX: OEX
AIM: OEX

Investor Presentation - August 2017

Oilex Ltd advises that a copy of an Oilex Investor Presentation dated August 2017 can be viewed by clicking on the below link.

http://www.rns-pdf.londonstockexchange.com/rns/1005P_-2017-8-29.pdf

http://www.moneyam.com/action/news/showArticle?id=5642315

4 September 2017

Issue of Shares

Oilex advises that it has issued 13,809,266 ordinary shares following exercise of 11,722,222 broker options at 0.225 pence expiring 22 May 2020 together with the issue of 2,087,044 shares as consideration for consulting services.

Oilex gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) (Act) that:

1. Oilex issued the Shares without disclosure to investors under Part 6D.2 of the Act;


2 as at the date of this notice, Oilex has complied with:



(a) the provisions of Chapter 2M of the Act as they apply to Oilex; and



(b) section 674 of the Act; and



3 as at the date of this notice, there is no information that is 'excluded information' within the meaning of sections 708A(7) and 708A(8) of the Act.


The Company advises that application has also been made for the admission to trading on AIM and it expects the shares to be admitted to trading on AIM on 7 September 2017.

http://www.moneyam.com/action/news/showArticle?id=5650440

Anyone subscribing to the MoneyAM Level 2 platform please take note that most days it is not reporting the correct Trade High nor Trade Low information and "some days" not reporting the correct Opening Price or Closing Price.

The reason is because MoneyAM's Level 2 system is not sensing the Auto Trades or Ordinary Trades correctly so is wrongly reporting them

MoneyAM has been unable to fix the fault for over 8 weeks now but are still charging full price for their Level 2

09:40 Oilex Ltd (OEX) Financial Report for Year Ended 30 June 2017 RNS
09:31 Oilex Ltd (OEX) Appendix 4G RNS
09:29 Oilex Ltd (OEX) Updated Constitution RNS

07:00 Oilex Ltd (OEX) Good Oil Investor Presentation September 2017 RNS
07:00 Oilex Ltd (OEX) Corporate Governance Statement RNS

6 October 2017
OILEX LTD

SEPTEMBER 2017 QUARTERLY REPORT

http://www.moneyam.com/action/news/showArticle?id=5718991

12 December 2017

ASX: OEX
AIM: OEX


Agreement Secures Funding of up to A$2.35 million

Oilex Ltd (the Company) is pleased to announce that it has entered into subscription agreements for a conditional capital raising to secure funding of up to A$2.35 million (£1.33 million).

The funding is an important step for the Company following the submission of its application for the PSC licence renewal extension for Cambay and provides funding certainty to fast track commencement of the 2018 work programme upon the licence renewal.

Key Placement Terms

The placement, part of which is subject to certain conditions set out below, will secure up to A$2.35 million before expenses through the issue of up to 507,134,736 fully paid ordinary shares. The placement will occur in two tranches structured as follows:

Tranche 1 The Company will issue 157,894,736 Shares at an average issue price of A$0.0038 (0.215 pence) to raise up to A$0.6 million (£0.34 million) in accordance with its 15% placement capacity under ASX Listing Rule 7.1; and

Tranche 2 The Company will issue approximately 349,240,000 shares at a price of A$0.005 (0.283 pence) to raise a further A$1.75 million (£0.99 million)

Tranche 1 is due to settle in January, but no later than 31 January 2018. The issue of the Tranche 2 shares is subject to shareholder approval, as well as the successful extension of the Cambay PSC by the Government of India for a further ten years on or before 31 March 2018. The Company anticipates holding its general meeting to approve Tranche 2 in the first quarter of 2018.

The placees include new institutional investor, Republic Investment Management Pte Ltd (Republic). Following the completion of Tranche 1 Republic is anticipated to hold an approximate 7% interest in Oilex, and will increase its holding to approximately 19.9% following the completion of Tranche 2.

Use of Funds

Funds raised from the placement are intended to primarily be applied to initiate the delivery of a targeted 2018 work programme within the Cambay PSC and for ongoing working capital requirements. The 2018 work programme includes up to nine workover candidates and two vertical wells at Cambay.

Commenting on the placing, Managing Director Mr Joe Salomon said. 'We are very pleased to secure the support of a new cornerstone shareholder. The funds raised will kick off our targeted 2018 work programme to unlock potential value at Cambay. We enter the new year with renewed momentum, a clear strategic focus, and increasing financial strength - we are confident that our work programme, with funding arriving in due course to support it, will see the company start to deliver Cambay's potential value for investors."


For and on behalf of the Board


Jonathan Salomon
Managing Director
http://www.moneyam.com/action/news/showArticle?id=5777103

Key dates

Second Quarter Report---------------------January

Interim Report 31 December---- ----------March

Third Quarter Report------------------------April

Fourth Quarter Report-----------------------July

Financial Report YE 30 June-----------------September

Annual Report Published & Notice of AGM--October

First Quarter Report--------------------------October

Annual General Meeting in Perth----------- November

http://www.oilex.com.au/investor-information/financial-calendar.html

From 7:00 today:

1 February 2018
ASX: OEX
AIM: OEX

Notice of Initial Substantial Holder (603)

Oilex Ltd (the Company) is pleased to advise that Republic Investment Management Pte Ltd has notified the Company that it has an initial relevant interest in 131,578,948 fully paid ordinary shares, representing 7.04% of the ordinary shares on issue.

The shares were issued at A$0.0038 per share as part of the Tranche 1 placement of A$600,000 announced on 12 December 2017. The two tranche placement which secures up to A$2.35 million, is an important step for the Company and provides funding certainty to fast track commencement of the 2018 work programme upon the Cambay PSC licence renewal.

The Tranche 2 issue of approximately 349,240,000 shares at a price of A$0.005 (0.283 pence) to raise a further A$1.75 million (£0.99 million) is subject to shareholder approval, as well as the successful extension of the Cambay PSC by the Government of India for a further ten years on or before 31 March 2018. The Company anticipates holding its general meeting to approve Tranche 2 in March 2018.


Please refer to the attached Form 603.

http://www.rns-pdf.londonstockexchange.com/rns/5663D_-2018-2-1.pdf

http://www.moneyam.com/action/news/showArticle?id=5838628

INTERIM REPORT 31 DECEMBER 2017

CONTENTS


Directors' Report

Auditor's Independence Declaration

Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income

Condensed Consolidated Statement of Financial Position

Condensed Consolidated Statement of Changes in Equity

Condensed Consolidated Statement of Cash Flows

Notes to the Condensed Consolidated Interim Financial Report

Directors' Declaration

Independent Review Report

http://www.moneyam.com/action/news/showArticle?id=5865577

26 February 2018
ASX: OEX
AIM: OEX

Investor Presentation - February 2018

Oilex Ltd advises that a copy of an Oilex Investor Presentation dated February 2018 can be viewed by clicking on the below link.

http://www.rns-pdf.londonstockexchange.com/rns/8602F_-2018-2-26.pdf

http://www.moneyam.com/action/news/showArticle?id=5868753

07:00 Oilex Ltd (OEX) Appendix 3B Issue of Shares and Section 708 Notice RNS
07:00 Oilex Ltd (OEX) Appendix 3Y B Lingo RNS
07:00 Oilex Ltd (OEX) Appendix 3Y P Haywood RNS

http://www.moneyam.com/action/nav/news?epic=OEX

29 March 2018
ASX: OEX
AIM: OEX

Amendment to T2 Capital Raising Conditions

Oilex Ltd (the Company) is pleased to advise that it has agreed with subscribers to amend the Tranche 2 conditions pursuant to the subscription agreements for the capital raising announced on 17 December 2017.

The completion of the Tranche 2 of the capital raising is subject to the successful extension of the Cambay PSC by the Government of India for a further ten years on or before 31 March 2018. The parties have today agreed to extend this date to 30 April 2018.

Tranche 1 issue of the capital raising was completed on 29 January 2018.

A formal response on the application for the Cambay PSC extension is anticipated by June 2018 although the Company believes that response may be received sooner.

For and on behalf of Oilex Ltd

http://www.moneyam.com/action/news/showArticle?id=5912831

4 April 2018
ASX: OEX
AIM: OEX

MoPNG Approves Application for PSC Extensions

Oilex Ltd (the Company) is pleased to announce that it has received notice that the Ministry of Petroleum and Natural Gas (MoPNG) has approved the proposal for the grant of ten year extensions to the Cambay and Bhandut PSCs.

The Director General of Hydrocarbons has been requested by the MoPNG to hold the Management Committee Meeting and take the necessary action in accordance with the Government of India policy on the extension of small and medium sized discovered fields dated 28 March 2016.

The Company wishes to thank its team in India for their outstanding contribution and the Director General of Hydrocarbons and the MoPNG for their timely consideration of the applications for extensions.


Managing Director, Joe Salomon said, "This is a major milestone for the Company and follows more than a year of dedicated effort by the Oilex team with the strong support from the Government of India. The extension will provide intrinsic value to our Indian projects and the Company, supported by increased interest from several Indian and foreign parties for possible participation in the Cambay PSC. Our efforts are now geared towards achieving commercial gas flow rates in the EP-IV formation. Our confidence in India as a country of immense potential remains resolute and the Company continues to evaluate additional project opportunities where we can apply international technologies and capitalise on the expertise of our team."

http://www.moneyam.com/action/news/showArticle?id=5917779

From today:

10:19 Oilex Ltd (OEX) March 2018 Quarterly Report

10:11 Oilex Ltd (OEX) Capital Raising and T2 Variation

15 May 2018
ASX: OEX
AIM: OEX

Issue of Shares and Section 708A(5)(e) Notice

Oilex Ltd (the Company) is pleased to advise that it has issued 125,000,000 new ordinary shares at an issue price of $0.004, raising $500,000 (Placement). Funds raised from the Placement are intended to be applied to the working capital requirements of the Company. The Placement is in relation to the capital raising announced 30 April 2018.

The placees include Republic Investment Management Pte Ltd who has increased its holding to approximately 12.2% following the completion of the Placement.

The Company further advises that it has issued 2,770,800 new ordinary shares. These shares have been issued in lieu of Non-Executive Directors' fees as approved by shareholders on 29 November 2017.

These new ordinary shares were issued at a price of AUD $0.005 (approximately 0.0028 pence) per Share.

http://www.moneyam.com/action/news/showArticle?id=5970569

17 May 2018
ASX: OEX
AIM: OEX

Notice of Change of Interests of Substantial Holder

Oilex Ltd (the Company) is pleased to advise that Republic Investment Management Pte Ltd has notified the Company that it has a relevant interest in 244,078,948 fully paid ordinary shares, representing 12.19% of the ordinary shares on issue following the issue of 112,500,000 new ordinary shares.

The shares were issued at A$0.004 per share as part of the placement of A$500,000 announced on 30 April 2018.

Please refer to the attached Form 604.

http://www.rns-pdf.londonstockexchange.com/rns/3563O_-2018-5-17.pdf

http://www.moneyam.com/action/news/showArticle?id=5974333

26 July 2018
ASX: OEX
AIM: OEX

Loan Funding & Cash Call Receipt

Oilex Ltd (the Company) is pleased to advise that it has entered into a binding loan agreement with existing investors to secure funding of A$300,000 (Loan Funding).


Summary of Key Terms

Term: 26 July 2019 (One Year)

Interest Rate: 5%

Repayments 100% payable at maturity

Options Issued: 83,333,333 options over ordinary shares

Option Exercise Price: A$0.0036

Option Expiry Date: On or about 26 July 2019

Security: Unsecured

Key Undertakings: Not to dispose of assets having an aggregate value more than A$1 million

Not to incur any financial indebtedness more than A$50,000

Not to incur any aggregate payment or outgoing exceeding A$1 million (except for wages)


Customary additional provisions regarding events of default, undertakings, covenants and representations and warranties have also been agreed.

As part of the Loan Funding, 83,333,333 Options will be issued to subscribers with an exercise price of A$0.0036, which, if exercised in their entirety, will result in a further cash inflow to the Company of A$300,000, the proceeds of which will be applied to the outstanding loan balance.

The issue of the Options is subject to shareholder approval under ASX Listing Rule 7.1 within 75 days after drawdown. Failure to secure shareholder approval will require immediate repayment of the loan principal and accrued interest. The Company is currently preparing the necessary notice of general meeting, which will be sent to shareholders shortly.

The loan proceeds will be to be applied to meet the expected working capital requirements of the Company over the short term.

Related Party Transaction

Republic Investment Management Pte Ltd (Republic) participated in A$300,000 of the Loan Funding amount.

Republic has a shareholding in the Company of 12.2% and is therefore categorised as a Substantial Shareholder of the Company pursuant to the AIM Rules for Companies (AIM Rules). Accordingly, the entering into the Loan Funding with Republic is classified as a related party transaction pursuant to the AIM Rules.

The Directors of the Company, having consulted with Strand Hanson Limited, the Company's Nominated Adviser, consider that the terms of the Loan Funding with Republic are fair and reasonable insofar as the Company's shareholders are concerned.

GSPC Cash Call Receipt

The Company wishes to advise that it has received the equivalent of approximately US $172,000 as a contribution to outstanding cash calls.

http://www.moneyam.com/action/news/showArticle?id=6066796

07:00 Oilex Ltd (OEX) June 2018 Quarterly Report RNS
30/07/18 07:00 Oilex Ltd (OEX) Event of Default Notice Update RNS
30/07/18 07:00 Oilex Ltd (OEX) Tranche 2 Update RNS

http://www.moneyam.com/action/nav/news?epic=OEX

10 August 2018
Mr Chris Hesford
ASX Limited
Level 40, Central Park
152-158 St Georges Terrace
PERTH WA 6000
By email: tradinghaltsperth@asx.com.au

Dear Mr Hesford

Oilex Ltd - Trading Halt Request

In accordance with ASX Listing Rule 17.1 Oilex Ltd (ASX: OEX, AIM: OEX) hereby requests an immediate trading halt on the Company's securities from the commencement of trading Friday 10 August 2018.

In accordance with Listing rule 17.1, Oilex provides the following information:

a) The trading halt is requested pending an announcement by Oilex in relation to an update on the Event of Default Notice issued in regard to the Cambay PSC;

b) Oilex requests the trading halt to remain in place until the earlier of such time as it makes an announcement to the market in relation to the Event of Default Notice and the commencement of trading on Tuesday 14 August 2018; and

c) Oilex is not aware of any reason why the trading halt should not be granted or of any other information necessary to inform the market about the trading halt.

Yours faithfully
Mark Bolton
Chief Financial Officer and Company Secretary

http://www.moneyam.com/action/news/showArticle?id=6086494

Just looked, my average is 5.2p :-(

10 August 2018
NOTICE
10/08/2018 12:24pm

TEMPORARY SUSPENSION OF TRADING ON AIM

OILEX LIMITED


At the request of the Company, trading on AIM for the under-mentioned securities has been temporarily suspended from 10/08/2018 12:24pm, pending an announcement.


ORDINARY SHARES OF NO PAR VALUE, FULLY PAID (B0Z33D7) (AU000000OEX8)



If you have any queries relating to the above, please contact the company's nominated adviser on 020 7409 3494.

http://www.moneyam.com/action/news/showArticle?id=6087541

13 August 2018
ASX: OEX
AIM: OEX

GSPC Event of Default Update and Trading Restoration

Oilex Ltd (Oilex or the Company) advises that Gujarat State Petroleum Corporation (GSPC) has served notice of an Order from the High Court of Gujarat (Court) directing it not to take any coercive steps against GSPC until 4 September 2018 (Order). The Order has been awarded on an interim basis to delay the Company securing a transfer of the Participating Interest in the Cambay PSC held by GSPC.

The Company's legal advisors are currently considering the matter and a further announcement will be issued in due course. The Order was obtained on an ex parte basis and accordingly, the Company was not afforded an opportunity to assert its position. The Company notes that, notwithstanding the Order, GSPC remains in ongoing material breach of the JOA with the Event of Default (EoD) remaining in place and Oilex fully intends to enforce its legal and contractual rights.

By way of background, on 29 May 2018, the Company issued the EoD Notice to GSPC in accordance with the Joint Operating Agreement (JOA) for the amount of equivalent US$3,054,832. The EoD Notice was issued as a result of GSPC's ongoing failure to pay its Participating Interest share of Cambay PSC expenses. GSPC failed to remedy its default within 60 days and, in accordance with the JOA, Oilex formally requested the Directorate General of Hydrocarbons and the Ministry of Petroleum and Natural Gas, India to transfer GSPC's participating interest in the Cambay PSC to the Company. This was announced by Oilex on 30 July 2018.

The Company's shares were suspended from trading on AIM on the afternoon of 10 August 2018 pending an announcement. Accordingly, the release of this announcement facilitates restoration of trading on AIM of the Company's shares, such restoration to occur at 7.30am 13 August 2018.

Managing Director, Joe Salomon, said: "We are confident that the Company has followed the correct legal process and intends to fully enforce its rights as necessary to facilitate the successful development of the Cambay Project."

http://www.moneyam.com/action/news/showArticle?id=6088090

15 August 2018
ASX: OEX
AIM: OEX

Notice of General Meeting


Oilex Ltd (the Company) advises that a General Meeting, will be held at The Park Business Centre, 45 Ventnor Avenue, West Perth, Western Australia on Friday 14 September 2018 at 10.00am.

Attached is a copy of the Notice of General Meeting, including an Explanatory Memorandum and Proxy Form, dispatched to shareholders today.


Further to the announcement on 29 July 2018, the Company advises that it has entered into another loan agreement with existing investors, and the loan funding has been increased by $30,000 to $330,000 on the same key terms. Accordingly, the number of options to be issued to subscribers with an exercise price of A$0.0036 on or before 26 July 2019 will increase by 8,333,333 to 91,666,666. The additional options are planned to be issued concurrently with existing options following approval by shareholders pursuant to the attached notice of meeting.

http://www.moneyam.com/action/news/showArticle?id=6091503

High Court of Gujarat Appearance


Oilex Ltd (the Company or Oilex) advises it is scheduled to appear in the High Court of Gujarat (Court), India today, with regard to the ex-parte interim stay order obtained by Gujarat State Petroleum Corporation (GSPC), as announced by the Company on 13 August 2018.

On 30 July 2018 Oilex announced that it had formally requested the Directorate General of Hydrocarbons and the Ministry of Petroleum and Natural Gas, India, to transfer GSPC's participating interest in the Cambay Production Sharing Contract to the Company (Cambay PSC). The request was made strictly in accordance with the Joint Operating Agreement and follows GSPC's failure to remedy an Event of Default Notice (EoD Notice) within the required 60-day period. The EoD Notice was a result of GSPC's ongoing failure to pay its participating interest share of Cambay PSC expenses.

As announced on 13 August 2018, GSPC subsequently served an Order from the High Court of Gujarat directing the Company not to take any coercive steps against GSPC until 4 September 2018. As disclosed in the announcement of 13 August 2018, the GSPC Order was awarded on an interim basis to delay the Company transferring GSPC's participating interest in the Cambay PSC to the Company.

The Company will issue an announcement upon receipt of further information from the Court.

http://www.moneyam.com/action/news/showArticle?id=6113918


ASX Trading Halt

Temporary Suspension of Trading on AIM

As of 12:30 today:
4 September 2018
ASX: OEX
AIM: OEX

High Court of Gujarat Adjournment

Resumption of Trading

Further to the announcements made earlier today in relation to Oilex Ltd (Oilex or the Company) appearing in the High Court of Gujarat, India (Court), the Company announces that following today's submissions to the Court, the matter has been adjourned until 19th September 2018 when there will be a further hearing. The matter has been adjourned at the request of Gujarat State Petroleum Corporation to consider the reply filed by Oilex ahead of what is anticipated to be the final hearing. Further announcements will be made in due course.

As a result of this announcement, trading in Oilex's shares on Aim will resume immediately.

http://www.moneyam.com/action/news/showArticle?id=6114898

07:40 Oilex Ltd (OEX) Capital Raising and Loan Funding RNS
07:00 Oilex Ltd (OEX) ASX Trading Halt RNS

http://www.moneyam.com/action/nav/news?epic=OEX

12 September 2018

FINANCIAL REPORT FOR YEAR ENDED 30 JUNE 2018

CONTENTS

Chairman's Review

Business Review

Permit Schedule

Directors' Report

Remuneration Report - Audited

Lead Auditor's Independence Declaration

Consolidated Statement of Profit or Loss and Other Comprehensive Income

Consolidated Statement of Financial Position

Consolidated Statement of Changes in Equity

Consolidated Statement of Cash Flows

Notes to the Consolidated Financial Statements

Directors' Declaration

Independent Audit Report

Shareholder Information

Definitions

Corporate Information



CHAIRMANS REVIEW

Dear Shareholder,



The 2018 financial year has seen the Company deliver on essential outcomes, as well as undertake some difficult challenges.

The Company gained a new cornerstone shareholder, an institutional investor, Republic Investment Management Pte Ltd (Republic). In December 2017 Republic agreed to participate in the January 2018 share placement, taking up an initial 7% interest in Oilex, which increased to just over 12% in May 2018 when Republic subscribed for an additional 112,500,000 shares. The subscription by Republic is seen by the Board as a vote of faith in the direction of the Company. Republic also participated in the debt and equity fundraisings in July and September 2018.

The Company has a significant multi TCF gas resource at the Cambay PSC in Gujarat state in India in the EP-IV tight siltstones that requires drilling and stimulation optimisation technologies to achieve commercial flow rates. In August 2017, Schlumberger, Baker Hughes GE and ODSI completed a technical evaluation of the optimal well and stimulation design required to achieve potential commercial flow rates in the EP-IV reservoir in Cambay Basin.

Schlumberger and Baker Hughes were appointed to complete the core analysis and to report on the reasons for under-performance of past wells. The purpose of their work was to identify any substantial impediments to achieving potential commercial flow rates and to advise on the optimal well and stimulation design required to take the project forward. Notably the results from their analysis has confirmed the potential for substantially increased flow rates with the application of the appropriate stimulation technology suite.

At the start of April 2018, the Company received notification that the Ministry of Petroleum and Natural Gas had approved the proposal for the grant of ten year extensions to both the Cambay and Bhandut PSC. The applications were lodged in September 2017 ahead of the PSC expiry dates of September 2019. Securing this extension was important to regaining momentum in the Company's key asset at Cambay.

In May 2018 the Company, having exhausted all other avenues to recover outstanding Cambay cash calls, issued an Event of Default Notice to GSPC in the amount of equivalent US$3,054,832. This notice, issued pursuant to the Joint Operating Agreement (JOA), is a consequence of GSPC's ongoing failure to pay its participating interest share of the expenses of the Cambay PSC.

In July 2018, after year end the Company formally requested the Directorate General of Hydrocarbons and the Ministry of Petroleum and Natural Gas to affect the transfer of GSPC's participating interest in the Cambay PSC to Oilex. Subsequently, GSPC served notice of an ex-parte Order from the High Court of Gujarat directing the Company not to take any coercive steps against GSPC until a hearing on 4 September 2018, with the High Court then adjourning this matter to 19 September 2018.

Whilst the Company is confident in its position, it may take some time to have this matter resolved and for the Company to consider other remedial strategies.

2018 also saw some governance changes to the Board, with the non-executive Board now consisting entirely of independent directors.

The Company is continuing to actively pursue new opportunities in order to create value by diversifying the Company's project portfolio.

Finally, on behalf of the Board, I wish to thank our staff, contractors, local communities, shareholders and stakeholders for their ongoing support.

Mr B Lingo
Chairman
12 September 2018

***More via Link Below***

http://www.moneyam.com/action/news/showArticle?id=6124830

13 September 2018
ASX: OEX
AIM: OEX

Good Oil Investor Presentation - September 2018

Oilex Ltd advises that a copy of an Oilex Good Oil Investor Presentation dated September 2018 can be viewed by clicking on the below link.

http://www.rns-pdf.londonstockexchange.com/rns/6244A_1-2018-9-13.pdf

17 September 2018
ASX: OEX
AIM: OEX

Re: Issue of Securities and Capital Raising Amendment

http://www.moneyam.com/action/news/showArticle?id=6130406

19 September 2018







NOTICE



19/09/2018 7:45am



TEMPORARY SUSPENSION OF TRADING ON AIM



OILEX LIMITED



At the request of the Company, trading on AIM for the under-mentioned securities has been temporarily suspended from 19/09/2018 7:45am, pending an announcement.



ORDINARY SHARES OF NO PAR VALUE, FULLY PAID (B0Z33D7) (AU000000OEX8)



If you have any queries relating to the above, please contact the company's nominated adviser on 020 7409 3494.

ASX Announcement
26 September 2018
ASX: OEX
AIM: OEX

Re: Issue of Securities

Oilex Ltd (the Company) is pleased to advise that it has today completed the second tranche of the capital raising announced on 11 September 2018 (Placement).

On 11 September 2018 and 17 September 2018, the Company announced a debt and equity capital raising of £0.70 million (A$1.27 million) comprising the issue of 278,237,747 shares at 0.19 pence for £0.53 million (A$0.96 million) together with loan funding of A$315,000 (£0.17 million). As part of the loan funding, 76,437,758 Options will be issued an exercise price of A$0.004121 on or before 1 October 2019 (Series B Loan Options).


The Company has today completed the second tranche of the Placement with the issue 91,222,451 shares at 0.19 pence for £0.17 million (A$0.31 million) and the full drawdown of the Series B Loans of A$315,000 (£0.17 million) inclusive of the issue of Series B Loan Options.

The issue of above mentioned shares and options are under LR7.1 and are included in the attached Appendix 3B.

Following today's issue, the final tranche of the Placement comprising 29,120,559 shares at 0.19 pence for £0.06 million (A$0.1 million) is anticipated to be completed in early October 2018.

****More via link below****

http://www.moneyam.com/action/news/showArticle?id=6142157

NOTICE



27/09/2018 7:45am



TEMPORARY SUSPENSION OF TRADING ON AIM



OILEX LIMITED



At the request of the Company, trading on AIM for the under-mentioned securities has been temporarily suspended from 27/09/2018 7:45am, pending an announcement.

17 October 2018
ASX: OEX
AIM: OEX

JPDA - Request for Arbitration


Oilex Ltd (the Company) has received correspondence from the Autoridade Nacional Do Petroleo E Minerais (ANPM), the body responsible of managing and regulating petroleum and mining activities in the Timor-Leste area, advising that it has submitted a Request for Arbitration (RFA) to the International Chamber of Commerce in Singapore. The RFA relates to matters associated with the termination of the JPDA 06 103 Production Sharing Contract (PSC).

By way of background, in November 2006 Oilex Ltd, via its wholly owned subsidiary Oilex (JPDA 06-103) Ltd (Oilex) and its Joint Venture partners entered into the PSC with the Timor Sea Designated Authority. The PSC was signed in January 2007 (effective date 15 January 2007) and Oilex was appointed Operator.

On 12 July 2013, the Operator, on behalf of the Joint Venture, submitted to the ANPM a Request to Terminate the PSC by Mutual Agreement in accordance with the PSC terms and without Penalty or Claim (Request). The Request was issued as a result of ongoing uncertainty as to security of PSC tenure which arose as a result of a maritime boundary dispute between the Governments of Timor Leste and Australia.

On 15 May 2015, the ANPM issued a Notice of Intention to Terminate the PSC and on 15 July 2015 issued a Notice of Termination and Demand for Payment (Notice). The demand for payment (100%) of the penalty claim of US$17,018,790 (plus interest) is the ANPM's estimate of the cost of exploration activities not undertaken in 2013, as well as certain local content obligations set out in the PSC.

In addition to other matters, the Joint Venture considers it has made significant over expenditure in executing the PSC work programme and that the ANPM has failed to properly assess and award credit for such additional expenditure when terminating the PSC. Notwithstanding the Joint Venture considers that no penalty payment is applicable, the parties have entered into good faith negotiations and made a number of unsuccessful offers to settle the matter in dispute.

The Company has already recorded a provision of US$600,000 in its financial statements, being the Group's 10% share of a proposed settlement offer which was made to the ANPM. The provision and or settlement has been and remains subject to review from time to time.

The obligations and liabilities of the Joint Venture participants under the PSC are joint and several and all participants have provided parent company guarantees. The equity interest of the Joint Venture participants are:

Oilex (JPDA 06-103) Ltd (Operator)

10%

Pan Pacific Petroleum (JPDA 06-103) Pty Ltd

15%

Japan Energy E&P JPDA Pty Ltd

15%

GSPC (JPDA) Limited

20%

Videocon JPDA 06-103 Limited *

20%

Bharat PetroResources JPDA Ltd

20%

Total

100%

* The Company understands that the parent company Videocon Industries Ltd is subject to corporate insolvency proceedings and continues to trade under the supervision of an insolvency professional. The Joint Venture has requested but is yet to receive formal documentation and or clarification as to the position of Videocon JPDA 06-103 Limited.

The company is yet to receive formal notice whereupon the timing for the proceedings will be determined. In any event, a decision from the arbitrator is not expected until 2020.

Commenting on the RFA, Managing Director Mr Joe Salomon said that "it is disappointing the ANPM has elected to pursue arbitration at this point. The Joint Venture had previously and will continue to negotiate in good faith, with previous offers to settle the matter being generous. "

For and on behalf of Oilex Ltd

Joe Salomon

Managing Director

https://www.moneyam.com/action/news/showArticle?id=6170498

OILEX LTD

SEPTEMBER 2018 QUARTERLY REPORT

https://www.moneyam.com/action/news/showArticle?id=6184718

09:05 Oilex Ltd (OEX) Second Price Monitoring Extn RNS
09:00 Oilex Ltd (OEX) Price Monitoring Extension RNS
07:00 Oilex Ltd (OEX) 2018 AGM Notice of Meeting RNS
07:00 Oilex Ltd (OEX) 2018 Annual Report to Shareholders RNS

https://www.moneyam.com/action/nav/news?epic=OEX

5 November 2018
ASX: OEX
AIM: OEX

High Court Decision on Cambay Stay Order

Oilex Ltd (Oilex or the Company) advises that the High Court of Gujarat, India (the Court) has now decided on all applications pending regarding the ex-parte interim stay order (IAAP No. 130 of 2018) obtained by Gujarat State Petroleum Corporation (GSPC) as announced by the Company on 13 August 2018 (the Order).

The Court has issued and passed judgement further delaying the implementation of the Event of Default Notice (EoD Notice) dated 29 May 2018 and Notice of Withdrawal of Participating Interest dated 29 July 2018, subject to the fulfilment of all of the following conditions:

a) GSPC is directed to deposit a sum of Rs.8.25 crores rupees (US$1.1 million approx) before the Court in the name Registrar of the High Court on or before by 15 November 2015#;

b) GSPC is directed to submit a bank guarantee for Rs.21.75 crores rupees (US$3.0 million approx) in the name of Registrar of High Court of Gujarat latest by 15 November 2015#; and

c) GSPC shall commence arbitration proceedings on or before 1 December 2018.

# We are advised by our Indian legal counsel that the applicable date should read 2018

Should GSPC meet the abovementioned conditions, the Court has directed that these conditions remain valid for the duration of the arbitration and that the Cambay Joint Operating Agreement (JOA) will continue to operate during this same period. Accordingly, in addition to submitting in aggregate, 30 crores rupees to the Court, GSPC will also be required to pay its current and ongoing 55% share of the Cambay Joint Venture expenditure while seeking to have the EoD Notice rescinded through the arbitration proceedings.

In the event GSPC does not adhere to all of the abovementioned conditions, the stay order will no longer prevent the Company from seeking to implement all of its rights under the JOA.

Further to the above observations, the Company is currently considering the order of the Court and will advise of any further actions that it may choose to take, if any.

As a result of this announcement, trading in Oilex's shares on AIM will resume immediately.

Background

By way of background, on 30 July 2018 Oilex announced that it had formally requested the Government of India (GoI) to transfer GSPC's participating interest (PI) in the Cambay PSC to the Company. The request was made strictly in accordance with the Joint Operating Agreement and follows GSPC's failure to remedy the EoD Notice within the required 60-day period. The EoD Notice was a result of GSPC's ongoing failure to pay its PI share of Cambay PSC expenses.

GSPC subsequently served an Order from the Court directing the Company not to take any coercive steps against GSPC. The GSPC Order was awarded on an interim basis to delay the Company transferring GSPC's PI in the Cambay PSC.


Managing Director, Joe Salomon, said: "We are pleased that the Court has reached a decision representing a step forward. Importantly, the Judge has recognised that Cambay is in the national interest, and Oilex is committed to meeting its undertakings to the GoI and contributing to India's energy security. The Company will shortly engage with the GoI to seek the approval of revised work programmes with the aim of progressing with an active drill programme.

Notwithstanding recent events, the Company will continue to seek an amicable solution in good faith for all parties provided that any path forward meets our obligations to the GoI to develop Cambay."

https://www.moneyam.com/action/news/showArticle?id=6193907

14 November 2018
ASX: OEX
AIM: OEX

Notice of Change of Interests of Substantial Holder


Please refer to the attached Form 604, for the notice of change of interests of substantial holder received from Republic Investment Management Pte Ltd ("Republic").

http://www.rns-pdf.londonstockexchange.com/rns/3023H_1-2018-11-14.pdf

14 November 2018
ASX: OEX
AIM: OEX

High Court Extension Application

Oilex Ltd (Oilex or the Company) advises that Gujarat State Petroleum Corporation (GSPC) has made an application to the High Court of Gujarat, India (the Court) seeking an extension of time regarding the Court order as announced by the Company on 5 November 2018 (the Application). The Application seeks a further 15-day extension to 30 November 2018 to clarify the amount GSPC is required to submit to the Court.

The matter is scheduled to be heard by the 'vacation' judge of the Court on Thursday, 15 November 2018. We note that the High Court of Gujarat will resume normal operations on Monday, 19 November 2018 following Diwali.

Background

By way of background, on 30 July 2018 Oilex announced that it issued Notice of Withdrawal of Participating Interest (NoW) and had formally requested the Government of India (GoI) to transfer GSPC's participating interest (PI) in the Cambay PSC to the Company. The request was made strictly in accordance with the Joint Operating Agreement and follows GSPC's failure to remedy the Event of Default (EoD Notice) within the required 60-day period. The EoD Notice was a result of GSPC's ongoing failure to pay its PI share of Cambay PSC expenses.

GSPC subsequently served an Order from the Court directing the Company not to take any coercive steps against GSPC. The GSPC Order was awarded on an interim basis to delay the Company transferring GSPC's PI in the Cambay PSC. As announced by the Company on 5 November 2018, the Court issued and passed judgement on 1 November 2018 further delaying the implementation of the EoD and NoW subject to the fulfilment of all of the following conditions:

a) GSPC is directed to deposit a sum of Rs.8.25 crores rupees (US$1.1 million approx) before the Court in the name Registrar of the High Court on or before by 15 November 2015#;

b) GSPC is directed to submit a bank guarantee for Rs.21.75 crores rupees (US$3.0 million approx) in the name of Registrar of High Court of Gujarat latest by 15 November 2015#; and

c) GSPC shall commence arbitration proceedings on or before 1 December 2018.

# We are advised by our Indian legal counsel that the applicable date should read 2018

In the event GSPC does not adhere to all of the abovementioned conditions, the stay order will no longer prevent the Company from seeking to implement all of its rights under the JOA.


Managing Director, Joe Salomon, said: "We are disappointed that GSPC continues to use every effort to delay meeting its obligations to the Joint Venture and the GoI. Importantly, the Judge has recognised that Cambay is in the national interest, and Oilex remains steadfast in its commitment to develop the Cambay project and contribute to India's energy security. In this regard, Oilex will fully enforce its rights to progress the development of the Cambay Project."

https://www.moneyam.com/action/news/showArticle?id=6206327

07:51 15 November 2018
ASX: OEX
AIM: OEX

High Court Extension Application Dismissed

Oilex Ltd (Oilex or the Company) advises that the application by Gujarat State Petroleum Corporation (GSPC) to the High Court of Gujarat, India (the Court) seeking an extension of time has been dismissed. On 14 November 2018, the Company announced that GSPC was seeking a further 15-day extension to 30 November 2018 to clarify the amount GSPC is required to submit to the Court. Following today's hearing, the Court has not granted an extension of time to comply with the conditions of the previous Court order as announced by the Company on 5 November 2018.

https://www.moneyam.com/action/news/showArticle?id=6208081

15 November 2018
ASX: OEX
AIM: OEX

Update on High Court Decision on Cambay Stay Order



Oilex Ltd (Oilex or the Company) advises that the registry of the High Court of Gujarat, India (the Court) has now closed for today. Pursuant to the order issued by the Court as announced by the Company on 5 November 2018, Gujarat State Petroleum Corporation (GSPC) was required to submit 30 crore rupees with the Court by today.

Although the Company was not able to formally confirm GSPC's compliance, it believes that GSPC may have submitted the required funds in compliance of the order with the Court. The Company will update the market upon clarification with the registry of the Court.



Background

By way of background, on 30 July 2018 Oilex announced that it had formally requested the Government of India (GoI) to transfer GSPC's participating interest (PI) in the Cambay PSC to the Company. The request was made strictly in accordance with the JOA and follows GSPC's failure to remedy the Event of Default Notice (EoD Notice) within the required 60-day period. The EoD Notice was a result of GSPC's ongoing failure to pay its PI share of Cambay PSC expenses.

GSPC subsequently served an ex-parte interim stay order (Order) from the Court directing the Company not to take any coercive steps against GSPC. The Order was awarded on an interim basis to delay the Company transferring GSPC's PI in the Cambay PSC.

On 5 November 2018, the Company announced that the Court had decided on all applications pending regarding the Order obtained by GSPC. In summary, the Court issued and passed judgement further delaying the implementation of the EoD Notice dated 29 May 2018 and also Notice of Withdrawal of Participating Interest (NoW) dated 29 July 2018, subject to the fulfilment of all of the following conditions:

a) GSPC is directed to deposit a sum of Rs.8.25 crores rupees (US$1.1 million approx) before the Court in the name Registrar of the High Court on or before by 15 November 2015#;

b) GSPC is directed to submit a bank guarantee for Rs.21.75 crores rupees (US$3.0 million approx) in the name of Registrar of High Court of Gujarat latest by 15 November 2015#; and

c) GSPC shall commence arbitration proceedings on or before 1 December 2018.

Should GSPC meet the abovementioned conditions, the Court has directed that these conditions remain valid for the duration of the arbitration and that the Cambay Joint Operating Agreement (JOA) will continue to operate during this same period. Accordingly, in addition to submitting in aggregate, 30 crores rupees to the Court, GSPC will also be required to pay its current and ongoing 55% share of the Cambay Joint Venture expenditure while seeking to have the EoD Notice rescinded through the arbitration proceedings.

In the event GSPC does not adhere to all of the abovementioned conditions, the stay order will no longer prevent the Company from seeking to implement all of its rights under the JOA.

https://www.moneyam.com/action/news/showArticle?id=6208788

16 November 2018
ASX: OEX
AIM: OEX

Compliance with High Court Order


Oilex Ltd (Oilex or the Company) advises that it has formally confirmed with the High Court of Gujarat, India (the Court) that Gujarat State Petroleum Corporation (GSPC) has submitted the required funds in compliance with its order. Pursuant to the order issued by the Court, as announced by the Company on 5 November 2018, GSPC was required to submit 30 crore rupees with the Court by 15 November 2018.

Background

By way of background, on 30 July 2018 Oilex announced that it had formally requested the Government of India (GoI) to transfer GSPC's participating interest (PI) in the Cambay PSC to the Company. The request was made strictly in accordance with the JOA and follows GSPC's failure to remedy the Event of Default Notice (EoD Notice) within the required 60-day period. The EoD Notice was a result of GSPC's ongoing failure to pay its PI share of Cambay PSC expenses.

GSPC subsequently served an ex-parte interim stay order (Order) from the Court directing the Company not to take any coercive steps against GSPC. The Order was awarded on an interim basis to delay the Company transferring GSPC's PI in the Cambay PSC.

On 5 November 2018, the Company announced that the Court had decided on all applications pending regarding the Order obtained by GSPC. In summary, the Court issued and passed judgement further delaying the implementation of the EoD Notice dated 29 May 2018 and also Notice of Withdrawal of Participating Interest (NoW) dated 29 July 2018, subject to the fulfilment of all of the following conditions:

a) GSPC is directed to deposit a sum of Rs.8.25 crores rupees (US$1.1 million approx) before the Court in the name Registrar of the High Court on or before by 15 November 2015#;

b) GSPC is directed to submit a bank guarantee for Rs.21.75 crores rupees (US$3.0 million approx) in the name of Registrar of High Court of Gujarat latest by 15 November 2015#; and

c) GSPC shall commence arbitration proceedings on or before 1 December 2018.

Should GSPC meet the abovementioned conditions, the Court has directed that these conditions remain valid for the duration of the arbitration and that the Cambay Joint Operating Agreement (JOA) will continue to operate during this same period. Accordingly, in addition to submitting in aggregate, 30 crores rupees to the Court, GSPC will also be required to pay its current and ongoing 55% share of the Cambay Joint Venture expenditure while seeking to have the EoD Notice rescinded through the arbitration proceedings.

In the event GSPC does not adhere to all of the abovementioned conditions, the stay order will no longer prevent the Company from seeking to implement all of its rights under the JOA.

https://www.moneyam.com/action/news/showArticle?id=6209875

19 November 2018
ASX: OEX
AIM: OEX

Update on Cambay Dispute


Oilex Ltd (Oilex or the Company) advises that it has received notice from the Singapore International Arbitration Centre (SAIC) that Gujarat State Petroleum Corporation (GSPC) has invoked the dispute resolution provisions of the Cambay Joint Operating Agreement (JOA). Pursuant to the order issued by the High Court of Gujarat, India (the Court), as announced by the Company on 5 November 2018, GSPC was required to commence arbitration proceedings on or before 1 December 2018.

Background

By way of background, on 30 July 2018 Oilex announced that it had formally requested the Government of India (GoI) to transfer GSPC's participating interest (PI) in the Cambay PSC to the Company. The request was made strictly in accordance with the JOA and follows GSPC's failure to remedy the Event of Default Notice (EoD Notice) within the required 60-day period. The EoD Notice was a result of GSPC's ongoing failure to pay its PI share of Cambay PSC expenses.

GSPC subsequently served an ex-parte interim stay order (Order) from the Court directing the Company not to take any coercive steps against GSPC. The Order was awarded on an interim basis to delay the Company transferring GSPC's PI in the Cambay PSC.

On 5 November 2018, the Company announced that the Court had decided on all applications pending regarding the Order obtained by GSPC. In summary, the Court issued and passed judgement further delaying the implementation of the EoD Notice dated 29 May 2018 and also Notice of Withdrawal of Participating Interest (NoW) dated 29 July 2018, subject to the fulfilment of all of the following conditions:

a) GSPC is directed to deposit a sum of Rs.8.25 crores rupees (US$1.1 million approx) before the Court in the name Registrar of the High Court on or before by 15 November 2015#;

b) GSPC is directed to submit a bank guarantee for Rs.21.75 crores rupees (US$3.0 million approx) in the name of Registrar of High Court of Gujarat latest by 15 November 2015#; and

c) GSPC shall commence arbitration proceedings on or before 1 December 2018.

Following receipt of today's SAIC notice, the abovementioned conditions have now been met. The Court has directed that these conditions remain valid for the duration of the arbitration and that the Cambay Joint Operating Agreement (JOA) will continue to operate during this same period. GSPC is also be required to pay its current and ongoing 55% share of the Cambay Joint Venture expenditure while seeking that the EoD Notice is rescinded through the arbitration proceedings.

The Company's legal advisors are currently considering the SAIC notice and the Company will advise of any further actions that it may choose to take, if any.


Managing Director, Joe Salomon, said: "We are confident that the Company has followed the correct legal process and acted in good faith with both our joint venture partners and the Government of India. Notwithstanding today's announcement, the Company remains committed to develop Cambay work. Accordingly, we will fully enforce our rights as necessary to facilitate the successful development of the project."

https://www.moneyam.com/action/news/showArticle?id=6211663

07:00 Oilex Ltd (OEX) AGM Chairman's Address RNS
07:00 Oilex Ltd (OEX) Issue of Securities RNS
07:00 Oilex Ltd (OEX) Results of Annual General Meeting 29 November 2018 RNS

https://www.moneyam.com/action/nav/news?epic=OEX

****From this morning****

Chairman's Address
Annual General Meeting
29 November 2018

Dear Shareholders,

The 2018 financial year has seen the Company deliver on many essential outcomes, as well as undertake many difficult challenges in our pursuit of the development of the Cambay project in India.

The Company has a significant multi TCF potential gas resource at the Cambay PSC in Gujarat state in India in the EP-IV tight siltstones that requires drilling and stimulation optimisation technologies to achieve commercial flow rates. The Company's previous attempts to exploit this resource were only partially successful.

In August 2017, Schlumberger, Baker Hughes GE and ODSI completed a technical evaluation to derive an optimal well and stimulation design. Schlumberger and Baker Hughes also completed the core analysis and analyzed the reasons for under-performance of past wells. Notably, the review confirmed that the EP-IV tight siltstones can be effectively stimulated and that commercial gas flow rates are potentially achievable.

Following the encouraging results from the technical review, in September 2017 the Company completed a Field Development Plan and applied for a ten-year extension to the Cambay PSC. In April 2018, the Company received notification from the Ministry of Petroleum and Natural Gas that it had approved the proposal for the grant of ten-year extensions to both the Cambay and Bhandut PSCs. Securing this extension was important to regaining momentum in the Company's key asset at Cambay.

Unfortunately, following the extension approval, the Company was not able to gain alignment with its JV partner on how to progress with the development of Cambay. In May 2018, the Company having considered that it had exhausted all other avenues, issued an Event of Default Notice to Gujarat State Petroleum Corporation (GSPC) and then subsequently sought the transfer of GSPC's participating interest in the Cambay PSC to Oilex in accordance with the provisions of the Joint Operating Agreement. Subsequently, GSPC commenced legal action to delay the transfer, initially with an ex-parte Order from the High Court of Gujarat followed by commencement of arbitration proceedings in November 2018.

Cambay is an important national asset of India and the Company fully intends to meet its undertakings to the Government of India and contribute to India's energy security. While the Company is confident, having taken external legal advice, that it has followed the correct legal process to ultimately facilitate the development of Cambay, we believe that a lengthy legal dispute is not desirable for any party. Accordingly, the Company is presently in discussions with GSPC and the Government of India to seek a commercial resolution. Importantly, in meetings earlier this week, there is alignment between both GSPC and Oilex to avoid arbitration if possible.

While OEX remains optimistic that a commercial resolution can and should be achieved and is working towards that end, there is no certainty for the timing or the outcome. Accordingly, we will continue to update the market from time to time.

Importantly, it is essential that Company retains supportive shareholders as we navigate through these final hurdles. In late 2017, the Company gained a new cornerstone shareholder, Republic Investment Management. In December 2017 Republic agreed to participate taking up an initial 7% interest in Oilex. Republic continued their support of the Company in May, July and then also September 2018. Republic currently has a shareholding of 9.7% in the Company, as well as advancing loans to the Company.

The support by all shareholders, including Republic, is appreciated by your Board and is seen as a vote of faith in the direction of your Company.

Finally, on behalf of the Board, I wish to thank our staff, contractors, local communities, shareholders and stakeholders for their ongoing support.

https://www.moneyam.com/action/news/showArticle?id=6224851

14 December 2018
ASX: OEX
AIM: OEX

Re: Issue of Securities

Oilex Ltd (the Company) advises that it has issued 29,120,559 new ordinary shares (New Ordinary Shares) at 0.19 pence pursuant the capital raising announced 11 September 2018. The £55,329 (A$100,000) issued today is the final tranche forming part of the £0.7 million (A$1.27 million) debt and equity capital raising.

The issue of New Ordinary Shares under LR7.1 are included in the attached Appendix 3B.


Admission and Total Voting Rights

Application has been made to the London Stock Exchange plc for the admission of the New Ordinary Shares to trading on AIM (Admission). Admission is expected to become effective, and dealings to commence in, the New Ordinary Shares at 8.00 a.m. on 19 December 2018. Following Admission, the Company will have 2,367,311,884 shares in issue. The Company does not currently hold any shares in treasury. Accordingly, the total number of voting rights will be 2,396,432,443.

Section 708A(5)(e) Statement

Pursuant to the issue of the abovementioned New Ordinary Shares, Oilex gives notice under section 708A(5)(e) of the Corporations Act (Cth) (Act) that:

1) Oilex issued the Shares without disclosure to investors under Part 6D.2 of the Act;

2) As at the date of this notice, Oilex has complied with:

a) the provisions of Chapter 2M of the Act as they apply to Oilex; and

b) section 674 of the Act; and

3) As at the date of this notice, there is no information that is 'excluded information' within the meaning of sections 708A(7) and 708(8) of the Act.

https://www.moneyam.com/action/news/showArticle?id=6244735

From this morning:

18 December 2018
ASX: OEX
AIM: OEX

Equity Capital Raising of £0.65 Million

Oilex Ltd (Oilex or the Company) is pleased to announce that it has arranged an equity capital raising to secure funding of £0.65 million (A$1.14 million) to meet the Company's working capital requirements.

The equity capital raising is by way of a placing of 180,555,555 shares at 0.36 pence (A$0.6314) per share has been undertaken jointly by Novum Securities Limited (Novum) and SP Angel Corporate Finance LLP (SP Angel) (the Placing). The placing price represents a 18% discount and 2% premium to the 5 day and 20 day VWAP respectively as traded on AIM.

Funds raised from the Placing are intended to be applied towards the working capital requirements of the Company. Completion of the Placing is conditional, inter alia, upon admission of the shares the subject of the Placing to trading on AIM. The shares the subject of the Placing will rank pari passu in all respects with the existing shares. Application will be made in due course to the London Stock Exchange for the shares the subject of the Placing to be admitted to trading on AIM and the Company will make an announcement at that time.

Pursuant to advisory agreements with Novum and SP Angel, the Company will issue 6,666,666 unlisted options exercisable at 0.36 pence on or before two years following the completion with the capital raising (Broker Options).

Following admission, the Company's share capital and total voting rights will comprise 2,576,987,998 shares. The Company does not hold any shares in treasury. Consequently, 2,576,987,998 is the figure which may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

Republic Investment Management PTE Ltd ("Republic") has participated in £50,000 of the Placing. As a result of Republic's interest in the Company (when taking account of its options in the Company) it is categorised as a Substantial Shareholder of the Company pursuant to the AIM Rules for Companies (AIM Rules). Accordingly, the participation of Republic in the Placing is classified as related party transaction pursuant to the AIM Rules.

The Directors of the Company, having consulted with Strand Hanson Limited, the Company's Nominated Adviser, consider that the terms of the Placing with Republic are fair and reasonable insofar as the Company's shareholders are concerned.

Managing Director, Joe Salomon, said "As announced at the recent AGM, the discussions with GSPC regarding the event of default are well underway. While the Company presently anticipates that the discussions will conclude in early 2019, the additional working capital will help strengthen the Company's balance sheet and give us the flexibility to support several potential outcomes.

The Company appreciates the strong investor support with management seeking to find a balance between ongoing market support, issue price and dilution, set against a volatile share price environment in recent weeks."

https://www.moneyam.com/action/news/showArticle?id=6248848

18 November 2018
ASX: OEX
AIM: OEX

Notice of Change of Interests of Substantial Holder

Please refer to the attached Form 604, for the notice of change of interests of substantial holder received from Republic Investment Management Pte Ltd ("Republic").

http://www.rns-pdf.londonstockexchange.com/rns/9424K_1-2018-12-19.pdf

https://www.moneyam.com/action/news/showArticle?id=6250205

21 December 2018
ASX: OEX
AIM: OEX

Re: Issue of Securities

Oilex Ltd (Oilex or the Company) advises that it has issued 166,666,667 ordinary shares at 0.36 pence (New Ordinary Shares) for £600,000 pursuant to the £650,000 equity capital raising as announced on 18 December 2018. The settlement of the remaining balance of £50,000 is anticipated to be completed in January 2019, a further announcement thereto will be made in due course.

The issue of New Ordinary Shares under LR7.1 are included in the attached Appendix 3B.

Admission and Total Voting Rights

Application has been made to the London Stock Exchange plc for the admission of the New Ordinary Shares to trading on AIM (Admission).


Admission of 111,111,111 of the New Ordinary Shares is expected to become effective and dealings to commence at 8.00 a.m. on 24 December 2018. Following Admission of these shares, the Company will have 2,507,543,554 shares in issue. The Company does not currently hold any shares in treasury. Accordingly, the total number of voting rights will be 2,507,543,554.

Admission of a further 55,555,556 New Ordinary Shares is expected to become effective and dealings to commence at 8.00 a.m. on 28 December 2018. Following Admission of these further shares, the Company will have 2,563,099,110 shares in issue. The Company does not currently hold any shares in treasury. Accordingly, the total number of voting rights will be 2,563,099,110.

Option Issue

Pursuant to the advisory agreement with Novum Securities and SP Angel, the Company has today also issued 6,666,667 options exercisable at 0.36 pence on or before 24 September 2020 (Options).


Section 708A(5)(e) Statement



Pursuant to the issue of the abovementioned New Ordinary Shares and Options, Oilex gives notice under section 708A(5)(e) of the Corporations Act (Cth) (Act) that:



1) Oilex issued the Shares and Options without disclosure to investors under Part 6D.2 of the Act;



2) As at the date of this notice, Oilex has complied with:

a) the provisions of Chapter 2M of the Act as they apply to Oilex; and

b) section 674 of the Act; and



3) As at the date of this notice, there is no information that is 'excluded information' within the meaning of sections 708A(7) and 708(8) of the Act.

https://www.moneyam.com/action/news/showArticle?id=6254478

31 December 2018
ASX: OEX
AIM: OEX

Cambay Cash Call Receipt

Oilex Ltd (Oilex or the Company) is pleased to announce that the Cambay JV has received INR20.5 million, approximately US$0.29 million in cash call proceeds. The payment from Gujarat State Petroleum Corporation incorporates all Cambay cash call notices subsequent to the Event of Default notice (EoD) announced on 29 May 2018.

Cash calls of approximately US$2.88 million pursuant to the EoD and net of US$0.17 million in subsequent cash call receipts in July 2018, remain outstanding. The EoD is subject to arbitration proceedings as announced on 19 November 2019. Further to the announcements on 29 November 2018 and 18 December 2018, discussions between Oilex and GSPC in regard to a potential commercial settlement remain ongoing.

https://www.moneyam.com/action/news/showArticle?id=6260617