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

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.