This is a good growth oil company - its Block 56 in Oman have significant oil bearing structures. it said that the possible presence of a thicker sedimentary section in the eastern area implied a more extensive distribution of the Ara Salt unit into Block 56 and raised the possibility of salt related structures similar to those producing to the west in the main salt basin.

Big losses for Oilex


Oilex incurred a consolidated loss after income tax of
$32,633,462 for the half-year (31 December 2007: loss of $6,721,880). The
significant decrease is mainly due to; a write down of capitalised exploration
and evaluation expenditure following a revaluation of asset carrying values at
the balance sheet date ($17,103,297), increased exploration expensed
($8,010,254) principally from major seismic programmes in Australia,
Timor-Leste and Indonesia, and a net loss on sale of the investment in BOW
Energy Limited shares ($4,317,320).

I remembered this one which was once compared to Cairn Energy. Its Cambay oil field, Bandut and Sabarmati in Gujarat province all come to nothing much.

talk of big upgrades in India reserves i've bought more.

.

65% gain :-))

They chase it to 21p on the news and now it's 10p bid again, bet the advfn
pump and dump mob were laughing at that one.

Guess it's time to watch more closely for a entry point.

Too easy this, buy when nobody else wants them sub 11p and now look at the
herd chase it when it's up a double digit % :-))

2 May 2011
La Rocca-1 well spuds on WA-388-P, Offshore Western Australia

Oilex Ltd advises that the "Ocean Patriot" rig has arrived at the La Rocca-1 well location and the well was spudded at 3:20 hours
(WST) on 30 April 2011.

Report date: 1 May 2011

Status: Commenced picking up drill pipe

Operations: * Spudded well

* Drilled 660mm / 914mm hole from 422 metres to 468
metres.

* Ran & set 762mm (30") casing

Water depth 401 metres

Objectives Intra Mungaroo channel zone

Planned total depth Approximately 5,100 metre(TD):

Days to TD: 41 days on a trouble free basis

23 May 2011
La Rocca-1 Well, WA-388-P Offshore Western Australia Report NO 4

Oilex Ltd has been advised by the Operator that as at 0600 hours on 22 May 2011, the La Rocca-1 well has drilled to a depth of 3,579 metres and is drilling ahead. It is anticipated that the objectives could be intersected within the next few days.

Report date: 22 May 2011

Status: * Drilling ahead below 3.579

Past Week's Operations: * Drilled 311 mm (12 ") hole to 3,478 metres and
ran 244 mm (9 ⅝") casing

* Cemented and tested casing

* Drilled 216 mm (8 ") hole from 3,478 metres to
3,579.0 metres

Oilex Ltd
La Rocca-1 Well WA388P Western Australia Update

25 May 2011

La Rocca-1 Well, WA-388-P Offshore Western Australia - Update
Oilex Ltd ("Oilex" ASX: OEX, AIM: OEX) has been advised by the Operator that
the La Rocca-1 exploration well has reached total depth of 4,864 metres after
drilling through the Intra Mungaroo Formation channel sandstone primary
objective. There are no indications of gas in the LWD and mud log data and
final wireline logs will now be run.

StockMarketWire.com
Oilex Ltd advises that the Cambay-76H horizontal well was spudded at 00:00 hours (WST) on 8th June 2011.

The Cambay-76H "proof of concept" well will evaluate the production potential of the Y Zone interval of the extensive Eocene "tight" reservoirs in the onshore Cambay Production Sharing Contract ("PSC") in Gujarat State, India.

It is estimated that the well, which includes a 610 metre lateral section, will take approximately 35 days to drill and complete. An 8 stage fracture stimulation program of the Eocene "tight" reservoir Y Zone will then be conducted.

After well clean-up, it is anticipated that a long term production test will be performed to determine flow rates, quality of hydrocarbons and commercial viability.

StockMarketWire.com
Oilex Ltd advises that at 14th June 2011 the Cambay-76H horizontal well was drilled to a depth of 601 metres and is preparing to drill ahead.

The Company insists it is making progress in unlocking the potential of the Cambay "tight" Eocene reservoirs that extend across the 161 km2 Cambay Production Sharing Contract area in onshore Gujarat, India.

The Company intends to evaluate and exploit these reservoirs using horizontal drilling and fracture stimulation technology that has been developed and proven in North America.

The Cambay-76H "proof of concept" horizontal well will evaluate the production potential of the Y Zone interval of these "tight" reservoirs. An 8 stage fracture stimulation program will be conducted and after well clean-up, it is anticipated that a long term production test will be performed to determine flow rates, quality of hydrocarbons and commercial viability.

StockMarketWire.com
Oilex has announced that its Cambay-76H horizontal well in India was directionally drilled as planned to casing point at 1,595 metres.

The company is making progress in unlocking the potential of the Cambay "tight" Eocene reservoirs that extend across the 161 km2 Cambay Production Sharing Contract ("PSC") area in onshore Gujarat, India. It intends to evaluate and exploit these reservoirs using horizontal drilling and fracture stimulation technology that has been developed and proven in North America.

The Cambay-76H "proof of concept" horizontal well will evaluate the production potential of the Y Zone interval of these "tight" reservoirs. An 8 stage fracture stimulation programme will be conducted and after well clean-up, it is anticipated that a long term production test will be performed to determine flow rates, quality of hydrocarbons and commercial viability.

StockMarketWire.com
Oilex Ltd is making progress in unlocking the potential of the Cambay "tight" Eocene reservoirs that extend across the 161 km2 Cambay Production Sharing Contract ("PSC") area in onshore Gujarat, India.

The Company intends to evaluate and exploit these reservoirs using horizontal drilling and fracture stimulation technology that has been developed and proven in North America.

The Cambay-76H "proof of concept" horizontal well will evaluate the production potential of the Y Zone interval of these "tight" reservoirs.

An 8 stage fracture stimulation program will be conducted and after well clean-up, it is anticipated that a long term production test will be performed to determine flow rates, quality of hydrocarbons and commercial viability.

StockMarketWire.com
Oilex Ltd advises that on 5th July, 2011 the Cambay-76H horizontal well was drilled to a total depth of 2,740 metres and the completion string has now been run successfully.

The drilling rig will now be demobilized in preparation for mobilizing the multi-stage fracture stimulation equipment and related services.

13th July 2011

Cambay-76H "Tight" Reservoir Well Report No 6

Oilex Ltd ("Oilex" ASX: OEX, AIM: OEX) advises that operations are continuing to demobilise the Black Pearl rig and associated drilling equipment.

Mobilization of the equipment required to conduct the large volume multi-stage fracture stimulation of the Y Zone tight gas reservoir is near completion and rigging up is progressing. In total, 16 zones will be stimulated in 8 stages over the length of the horizontal section of the well bore (approximately 600 metres).

20th July 2011
Cambay-76H "Tight" Reservoir Well Report No 7
Oilex Ltd advises that the mobilization and rigging up for the large volume multi-stage fracture stimulation of the Y Zone tight gas reservoir is progressing well and all equipment is expected to be on site and rigged up within the next few days.

The demobilisation of the Black Pearl drilling rig is also nearing completion.

After rigging up of the fracture stimulation equipment is completed, a fracture stimulation program comprising 8 stages with two fracture initiation points per stage will commence. The well will then be flowed to surface to clean up, removing stimulation fluids from the well bore prior to conducting the flow test.

The monsoon season has commenced in Gujarat and the progress of operations is contingent on variable weather conditions. To date there have been some minor interruptions to activities due to weather.

27th July 2011

Cambay-76H "Tight" Reservoir Well Report No 8
Oilex Ltd ("Oilex" ASX: OEX, AIM: OEX) advises that the mobilization for the
large volume multi-stage fracture stimulation of the horizontal Cambay-76H well
has been completed with all equipment now on site and rigged up. The Black
Pearl drilling rig has been fully demobilised from site.

In preparing for the start of the fracture stimulation program; a test of all
surface equipment has been conducted, mixing of chemicals and loading of
proppant and water to tanks is underway and coiled tubing operations are being
completed.

The fracture stimulation program will comprise eight stages with two fracture
initiation points per stage. The well will then be flowed to surface to remove
stimulation fluids and clean up the well bore prior to conducting the flow
test.

The Cambay-76H "proof of concept" horizontal well is evaluating the production
potential of the Y Zone interval of the extensive Eocene "tight" reservoirs in
the onshore Cambay Production Sharing Contract ("PSC"), Gujarat, India.

3 August 2011

Cambay-76H "Tight" Reservoir Well Report No 9
Oilex Ltd ("Oilex" ASX: OEX, AIM: OEX) advises that the first stage of the
large volume multi-stage fracture stimulation program of the horizontal
Cambay-76H well has been completed successfully and the second stage is now
under way.

The fracture stimulation program comprises eight stages with two fracture
initiation points per stage. After completion of the fracture stimulation
program the well will be flowed to surface to remove stimulation fluids from
the well bore (well clean-up phase) and then a flow test will be conducted.

The Cambay-76H "proof of concept" horizontal well is evaluating the production
potential of the Y Zone interval of the extensive Eocene "tight" reservoirs in
the onshore Cambay Production Sharing Contract ("PSC"), Gujarat, India.

StockMarketWire.com
Oilex Ltd has advised that all eight stages of the fracture stimulation program of the horizontal section in the Cambay-76H well were pumped successfully and according to plan.

The well is currently being prepared for flow to surface to remove stimulation fluids from the formation (well clean-up phase). After the completion of the clean-up operations a flow test will be conducted.

The Cambay-76H 'proof of concept' horizontal well is evaluating the production potential of the Y Zone interval of the extensive deep Eocene reservoirs in the onshore Cambay Production Sharing Contract area, Gujarat,India.