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.

OILEX LTD
QUARTERLY REPORT TO SHAREHOLDERS 31 DECEMBER 2006

HIGHLIGHTS

* Government of India approved assignment of interests in Bhandut, Sabarmati
(Oilex 40% Operator) and Cambay Fields (Oilex 45%, Operator), onshore
Gujarat, India.

* 2 wells drilled and suspended in first phase drilling programme on Cambay
Field with indications of hydrocarbons

* Testing and completion of Eocene EP IV potential reservoir interval in
Cambay-72 commenced January

* 3D seismic acquisition over Cambay Field completed in early December

* Cambay 3D data set is excellent quality - 22 locations selected for
potential phase 2 drilling programme of up to 8 wells in 2007

* 2-3 wells planned in Block 56, Oman Q3 2007

* 8 prospects mapped with potential volumes of 40 to 150 million barrels of
oil in place on EPP 27

* Negotiations continuing for drilling rig for EPP 27, offshore Otway Basin

* Retain cash resources of approximately A$14.8 million

5 February 2007

OILEX LTD

WEEKLY OPERATIONS UPDATE - CAMBAY FIELD TESTING

Oilex Ltd is pleased to advise of progress on the Cambay 72 re-entry and test
programme in Cambay Field, Gujarat, India.

John Energy's rig "John-50-V" commenced moving to the Cambay-72 well-site on
January 20 2007 and initiated re-entry operations on January 22 on a 12 hour
day basis.

Since last week's report, wireline logging operations have been completed, the
completion assembly was run, surface equipment tested and intervals
1761.5-1760.5 Measured Depth (MD), 1759.5-1756.5 MD, 1754.5-1751.0 MD and
1748.0-1745.5 MD perforated. Surface measurements indicate that the well has
commenced flowing oil and gas. The well will be observed for several days while
the natural flow potential of the Eocene reservoir is assessed before
initiating stimulation operations.

Depending on the results of this test of the Eocene section, a testing program
may also be carried out on shallower Oligocene reservoirs which had indications
of hydrocarbons while drilling.

morning all, nice start to the day !

This will reach 100p soon

not sure if you did mention this company to me last week, but if so, i obviously forgot to check it out ..... not that i would have bought as have more than enough oilies, some quality of sorts (TLW and BUR) and others of almost zero quality (CHP, GOO and VOG)!

Cynic, see above (post 13) too bad you forgotten but still not too late.

quite right .... chart momentum very strong ..... obvious resistance is at all time high of about 82.5p .... pretty hefty spread at (seemingly) 4p

OILEX LTD


19 February 2007


WEEKLY OPERATIONS UPDATE - CAMBAY FIELD TESTING

Oilex Ltd is pleased to advise of progress on the Cambay 72 re-entry and test
programme in Cambay Field, Gujarat, India.

Background - Cambay-72 was drilled in September 2006 and its location was
selected from maps made prior to the acquisition of the 3D seismic survey. The
primary target was the potential Oligocene oil reservoir from which good shows
of oil were recorded while drilling and subsequently confirmed by wireline
logs.

Indications of oil and gas in poorer quality reservoir were also recorded from
the deeper, over-pressured Eocene EP IV interval and the opportunity has been
taken to acquire pressure and fluid data from this unit in the current test
programme. The Oligocene potential oil reservoir will be tested in due course.

Operations - During the past week, the perforated interval in the Eocene EP IV
reservoir was successfully fracture stimulated and the well has been monitored
while flowing to surface through a separator into a temporary oil storage tank.
After the initial clean up period, the average oil flow rate is now
approximately 70 barrels per day of 40 degree API oil with a gas to oil ratio
of 260 standard cubic feet of gas per barrel of oil. Although the amount of
water produced with the oil is now below 10% on average of the total fluid
volume (oil plus water), a stabilised oil flow rate has not yet been
established.

Operations Forecast - Monitoring of the production performance of the Cambay-72
well will continue until the flow rate is optimised at a stable, sustainable
level. Evaluation of the commercial potential of the EP IV reservoir is
continuing as the results of the test programme are integrated into the field
mapping studies.

Oilex is very pleased with the results to date of the fracture stimulation of
the EP IV in Cambay Field. The procedure has resulted in an increase in oil
flow rate by approximately seven times the initial natural flow rate reported
last week. This is a substantial increase in productivity and the information
derived from the test will provide an excellent basis for the design of the
drilling and completion programmes for future EP IV wells to achieve better
rates of oil production.

It's nice to keep hearing news but i'm still waiting for that all important news then we should see these shares go like a rocket and also talk of a takeover.

26 March 2007


WEEKLY OPERATIONS UPDATE -RESUMPTION OF TESTING PROGRAMME, CAMBAY-72,
CAMBAY FIELD, INDIA

Oilex Ltd, Operator for the Cambay Field Joint Venture, is pleased to advise
that the re-entry and test programme for well Cambay-72 in Cambay Field,
onshore Gujarat, India will be resumed this week.

Background - Cambay-72 was drilled in September 2006 and its location was
selected from maps made prior to the acquisition of the 3D seismic survey. The
primary target was the Oligocene OS II sandstone potential oil reservoir,
estimated to be about 16 metres (gross) thick at this location. Good shows of
oil were recorded while drilling and subsequently confirmed by wireline logs.
The interpretation of the 3D seismic data at the OS II marker over the Western
High area confirms a similar depth to structural closure.

Indications of oil and gas in poorer quality reservoir were also recorded from
the deeper, over-pressured Eocene EP IV interval. Pressure and fluid data from
this unit were acquired in a test programme that was conducted in February
2007.

The Cambay Field Joint Venture has approved a programme to conduct a cased hole
test of the Oligocene OS II sandstone, the primary objective of the Cambay-72
well.

Operations - The John Energy 50MT work-over rig has been mobilised to the
Cambay-72 location and is currently rigging up preparatory to re-entering the
well and initiating testing operations.

Operations Forecast - Following wireline logging operations to confirm cement
and casing integrity, a completion assembly will be run, surface equipment
installed and the interval 1514 -1520 metres perforated. Reservoir fluids will
then be allowed to flow into a surface separator while the production potential
and fluid properties of the OS II reservoir are assessed.

OILEX LTD

2 April 2007

Centralised Company Announcements Office

Australian Stock Exchange Limited

10th Floor

20 Bond Street

Sydney NSW 2000

Dear Sir,

subject: WEEKLY OPERATIONS UPDATE -TESTING PROGRAMME, CAMBAY-72, CAMBAY FIELD,
INDIA

Oilex Ltd, Operator for the Cambay Field Joint Venture, is pleased to advise of
progress on the re-entry and test programme for the Oligocene OS II reservoir
in the Cambay-72 well, onshore Gujarat, India.

Background - Cambay-72 was drilled in September 2006 and its location was
selected from maps made prior to the acquisition of the 3D seismic survey. The
primary target was the Oligocene OS II sandstone potential oil reservoir,
estimated to have a gross thickness of 16 metres at this location.

Pressure and fluid data were acquired in a test programme of the deeper Eocene
EP IV reservoir conducted in February 2007. Production from this zone has
continued while planning was carried out and approvals obtained for the OS II
test programme.

Operations - Since last week's report, the John Energy 50MT work-over rig has
been set up on location, surface equipment installed and tested, oil production
from the EP IV interval terminated and activities to condition the mud system
and clean the well bore for safe operations are almost complete.

Operations Forecast - A packer will be set to isolate the deeper, productive EP
IV interval, the test string run and the interval 1514-1520 metres (measured
depth) perforated early this week. Reservoir fluids will then be allowed to
flow into a surface separator while the production potential and fluid
properties of the OS II reservoir are assessed.

Participants in the Cambay Production Sharing Contract are:

Joint Venture Party Participating Interest

Oilex (Operator) 45%

Gujarat State Petroleum Corporation Ltd 55%

Oilex says Sabarmati-1 well to be put on production early this week
AFX

LONDON (Thomson Financial) - Oilex Ltd said in a weekly operations update that a pumping unit will be installed at the Sabarmati-1 well in Gujarat, India early this week and the well put on production.

The John-50-VI workover rig is currently moving off the Sabarmati-1, along with sand control and other essential equipment, to the Cambay-72 well site in order to resume tests on the sandstone, Oilex said.

Oilex says Indian ops resume; secures land-drilling rig for up to nine months
AFX


LONDON (Thomson Financial) - Oilex Ltd said the pumping unit has been installed at the Sabarmati oil field in Gujarat, India and the well is now producing an increased rate of 97 barrels of oil per day (plus water), which is at the upper end of its expectations.

The oil and gas exploration company added it has resumed remedial operations at the Cambay oilfield and is installing equipment prior to restarting tests.

Oilex, which has a 40 pct participating interest in Sabarmati and 45 pct in Cambay, said it is sharing costs in proportion to its interests along with its joint venture party, Gujarat State Petroleum Corp.

The company also said it has secured a land-drilling rig for nine months with an option to extend the contract for up to two years.



TFN.newsdesk@thomson.com

rsh/tsm/ic

en passant, i noticed that this company had been added to the Heaven & Hell portfolio in Saturday Telegraph

Thanks for that Mr C. Looks like something is stirring.

A sea of blue on Level 2 as well. Nice start to the month. Anyone know the background to India Hydrocarbons Ltd, the Company in the latest RNS?

28 May 2007


OILEX FARMS IN TO WEST KAMPAR PRODUCTION SHARING CONTRACT, INDONESIA

Oilex Ltd, through a wholly owned subsidiary, has entered into an agreement to
acquire a 45% interest in the West Kampar Production Sharing Contract (PSC),
onshore Sumatra, Indonesia from PT Sumatera Persada Energi (SPE). The block has an existing oil discovery that can be brought into production quickly if justified by appraisal drilling and a number of highly prospective structural trends that will be the subject of an intensive exploration program.

The consideration for this interest includes Oilex refunding certain past costs
and funding the drilling of the Pendalian-3 exploration/appraisal well, planned
for July 2007, and the acquisition of 2D and 3D seismic work commitment programs.

Subject to approvals from the Government of Indonesia and certain other
conditions precedent, the participating interests in the West Kampar PSC will
be:

Joint Venture Party Participating Interest

Oilex 45%

Sumatera Persada Energi (Operator) 55%

West Kampar PSC - The contract area is located in central Sumatra adjacent to
the most prolific oil producing province in Indonesia (Figure 1). Awarded in
October 2005, the PSC work program commitment provides for the acquisition of
250 kms of 2D seismic and 50 sq kms of 3D seismic along with drilling of the
Pendalian-3 well and an additional 4 exploration wells by November 2008.

SPE - SPE is an Indonesian oil and gas company which is part of the PT Asiabumi
Petroleo group, a diverse private company with interests in crude oil shipping
amongst other activities. It acquired the PSC in its own right as operator in 2005 as a relative newcomer to the Indonesian exploration and production scene. SPE employs regarded industry professionals with substantial experience in the upstream oil and gas sector in Indonesia gained while working with international companies over a number of years.

Pendalian-3 - The Pendalian-3 well planned for July 2007 will appraise the oil
field discovered in 1993 by the Pendalian-1 well, a cored slim hole which
encountered a number of oil zones at depths ranging from 250 metres to 500
metres. Two of the zones flowed oil from drill stem tests in Pendalian-1 with
maximum rates achieved of up to 530 barrels of oil per day. Independent
technical work by Oilex indicates that the best estimate of the "in place
resource" for the field is 12 million barrels of oil.

If commercial productivity is confirmed by the extensive cased hole testing
program planned for the conventionally drilled Pendalian-3 well, the West
Kampar Joint Venture plans to acquire a 3D seismic survey over the Pendalian
Field and a number of satellite structures and to accelerate development.
Shallow, low cost wells and the proximity to infrastructure are attractive
incentives for the rapid development of the field. Early cash flow generated by
Pendalian production will be applied to the exploration of highly prospective
trends that have been recognized on the block.


Figure 1 Location of West Kampar Production Sharing Contract, Sumatra
Indonesia, showing oil discoveries. (Please refer to the Oilex Website for colour figures).

Exploration Potential - The proposed 2D seismic exploration program will delineate additional drillable prospects on proven exploration plays in the West Kampar PSC area, particularly on the Daludalu structural trend in the northern part of the block. Currently available data indicates that the Daludalu-1 well tested oil at a rate of 250 barrels per day and other wells on this trend had oil shows. Tonga-1, adjacent to the northern West Kampar block boundary tested oil at a rate of 1560 barrels per day and fields discovered on analogous structural trends in adjacent areas have produced up to 300 million barrels of oil.

Comment - Oilex is excited by the prospects in this new area within our designated Indian Ocean Rim sphere of operations. We are particularly pleased with the opportunity that West Kampar offers to move rapidly into production as we seek to expand our interests in Indonesia.

at Darradev's request, a chart below ...... it really is very messy, and as for the stock, i personally would not touch it with a bargepole having looked at the spread (4p) and that though only 143k were traded yesterday, sp moved by 3p ..... all the hallmarks of a very very illiquid stock, trading in which is fraught with great danger.