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.

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.

17 August 2011

Cambay-76H "Tight" Reservoir Well Report No 11
Oilex Ltd advises that the well is being prepared for well clean-up flow and production testing. The well is currently being flowed to surface to remove stimulation fluids from the eighth fracture stimulation stage and hydrocarbons are being flowed intermittently to surface along with the stimulation fluids. Milling operations to open up the remaining seven fracture stimulation stages have started. 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 "tight" reservoirs in the onshore Cambay Production Sharing Contract area, Gujarat.

24 August 2011
Cambay-76H "Tight" Reservoir Well Report No 12

Oilex Ltd ("Oilex" ASX: OEX, AIM: OEX) advises that operations to prepare for
well clean-up flow and production testing are continuing. Some delays have been
experienced during coil tubing unit interventions to open up the remaining
fracture stimulation stages.

After clean-up operations a flow test will be conducted.

31 August 2011

Cambay-76H "Tight" Reservoir Well Report No 13
Oilex Ltd advises that operations to prepare for well clean-up flow and production testing are continuing. The coil tubing unit was not able to retrieve milling tools being used to open the second fracture stimulation stage. Consequently, it is planned to mobilise a work-over rig to the well location to retrieve the milling tools. Following this, operations will resume to open up the remaining fracture stimulation stages so that clean-up operations and a flow test can 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 "tight" reservoirs in the onshore Cambay Production Sharing Contract area, Gujarat, India.

Oil & Gas Sector: Oilex up after successful operation to retrieve equipment at Cambay well


Shares in Oilex (LON:OEX) jumped after it revealed a successful operation to retrieve the stuck milling assembly and coiled tubing at the Cambay-76H horizontal well onshore Gujarat, India.

Oilex said the well was currently being prepared for resumption of milling of the seven remaining fracture stimulation stages and when this operation was completed, production tubing would be run and the well would be flowed to surface for clean-up and production testing.

waiting for the right time to buy

Placing was underwritten and was around 100% dilution at 2p so I'm seeing 1180m and a cap of around £16m, about £15m of that being cash

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