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

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.