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

24 October 2016
 
OILEX LTD - SETEMBER 2016 qUARTERLY rEPORT
HIGHLIGHTS

http://www.moneyam.com/action/news/showArticle?id=5436564

23 November 2016

Waiver of ASX Listing Rule 10.13.5
 
Oilex Ltd refers to its announcement of 24 October 2016 in relation to its 23 November 2016 Annual General Meeting Notice of Meeting.
 
The Company applied to the ASX for a waiver of Listing Rule 10.13.5 in relation to Resolution 3 Approval of Managing Director Special Funding and Retention Awards.
 
Pursuant to Listing Rule 10.13.5 the issue price of the securities must be included in the Notice of Meeting (Notice).
 
The Company is pleased to advise the ASX on 18 November 2016 granted the requested waiver to permit the Notice to approve the issue of $100,000 worth of ordinary shares (Award Shares) to the Managing Director, Mr Jonathan Salomon, without an issue price, subject to the following conditions:
 
1.1          The Notice states that the number of Award Shares to be issued to Mr Salomon will be calculated based on the volume weighted average price of the underlying shares for the 20 business days on which the shares traded prior to the date of the Company's Annual General Meeting (AGM).
 
1.2          The Company announces the issue price of the Award Shares prior to the AGM.
 
The Company has calculated the issue price of the Award Shares at $0.0077 and accordingly 12,987,013 Oilex ordinary shares will be issued to Mr Salomon upon shareholder approval.
 
For and on behalf of the Board
 
Mark Bolton
Chief Financial Officer and Company Secretary

23 November 2016

Chairman's Address to Shareholders
 
Dear Shareholder
 
As you know, the 2016 financial year has been an extremely challenging year for Oilex and its shareholders, resulting in a loss before income tax of $36 million, primarily affected by non-cash impairment of exploration and development assets of $21.6 million, and reduced recovery of costs from Joint Ventures and costs associated with the Zeta Resources Limited litigation.  Against a back drop of a fifteen-year low in oil prices, the Company has had to divert much of its attention from the core business of developing value from its assets to addressing significant joint venture issues in India, costly litigation associated with its last capital raising, and  resetting the technical direction at Cambay, in association with lower than expected production rates at its most recent wells and delays associated with joint venture funding contribution to ongoing project activities.
 
Despite these hurdles, the Company continues to be confident in, and committed to unlocking, the multi TCF in-place tight gas potential in its onshore Cambay Block, Gujarat State in India.  To this end, a new vertical well is planned which is essential to determining the optimal formula to underpin any long term commercial development of the substantial undeveloped gas opportunity at Cambay.  The next phase of the work programme is designed to address the identified technical and operational risks and is aimed at regaining the momentum behind the Company's core unconventional gas project at Cambay. Planning and preparation continues for the drilling of the Cambay-78 vertical well scheduled for the first half of next year, with the dual objective of developing the un-depleted OS-II sand and to obtain core samples from the EP-IV Zone reservoir for drilling and stimulation studies, in addition agreement has been reached with our JV Partner GSPC for Oilex to drill Cambay-78 on a sole fund/sole reward basis. 
 
The growth in energy demand in India underpins a strong business case for the Joint Venture partners to the Cambay PSC.  India is home to 18% of the world's population yet uses only 6% of the world's primary energy.  This is despite its energy consumption having almost doubled since 2000.  Domestic gas production continues to decline with the growing imbalance being filled by the rapid expansion of LNG imports.
 
Oilex believes that India has large undeveloped unconventional potential. Limited exploitation, to date, provides a significant opportunity for the discovery and commercial development of these hydrocarbon resources.  Oilex has ten years' operating experience in India with a strong local team.  Under the revamped leadership team, the Company is focussed on leveraging this opportunity for the benefit of our stakeholders and partners.
 
Reflecting the changes in the industry environment and the project status, your Board has made the necessary changes to reposition Oilex for a strong future.  Besides significantly reducing expenditures, the Company has also restructured its board and senior executive management team during the year.
 
The Company is actively engaged in resolving issues associated with the Cambay joint venture funding requirements and the ongoing funding and ownership structure, which has necessitated that as Operator the Company has absorbed certain costs to maintain the viability of this joint venture, while developing an ongoing strategy to resolve these issues.  While planning for the C-78 well is underway, the Company continues to actively evaluate alternative approaches and cost structures to advance the project.
 
Oilex is also reviewing opportunities in addition to rationalising its exposure to existing projects.
On behalf of the Board I wish to record our appreciation for the support of our executive management and staff, Joint Venture partners, contractors, local communities, shareholders and stakeholders during a difficult year and look forward to unlocking the key to the sustainable commercialisation of the unconventional hydrocarbon resources within the Cambay project. In particular, we are appreciative of the support of our major shareholders who have elected to be generally supportive of the resolutions tabled at this AGM.
 
We look forward to improving our performance and a better year ahead.
 
Best Regards
 
Max Cozijn
Chairman

http://www.moneyam.com/action/news/showArticle?id=5453371

13 December 2016
 
ASX: OEX
AIM: OEX
 
Oilex tenders for additional 55% interest in Cambay PSC
 
Oilex Ltd (the Company) is pleased to advise that it has participated in a formal tender process submitting a conditional offer for an additional 55% interest in the Cambay PSC (Cambay). Oilex has submitted the offer in response to a competitive bid process initiated by Gujarat State Petroleum Corporation Limited (GSPC) for the possible disposal of its interest in Cambay. If successful in the tender process, Oilex would increase its current 45% interest to 100% of Cambay.
 
In addition to GSPC's agreement to any potential sale, Indian regulator approvals will be required to effect the sale/transfer of GSPC's interest in Cambay. 
 
Pursuant to the Cambay JOA, Oilex is the Operator and holds a pre-emptive right in respect of the possible sale of GSPC's interest in Cambay to a third party.
 
Pursuant to the tender process, Oilex will consider its strategic options for Cambay in order to realise value for shareholders.  The Company will continue to update the market on any material developments.
  
Joe Salomon
Managing Director

http://www.moneyam.com/action/news/showArticle?id=5464623

30 January 2017 
ASX: OEX
AIM: OEX
 
Investor Presentation - Jan/Feb 2017
 
Oilex Ltd advises that a copy of an Oilex Investor Presentation dated Jan/Feb 2017 can be viewed by clicking on the below link.
 
http://www.rns-pdf.londonstockexchange.com/rns/4375V_1-2017-1-30.pdf
 

23 February 2017 
ASX: OEX
AIM: OEX
 
Oilex Appoints New Chairman and Commences Board Strengthening
 
Oilex Ltd (the Company) advises that Mr Max Cozijn has stepped down as Non-Executive Chairman of the Company. 
 
Mr Brad Lingo has agreed to act as Non-Executive Chairman in an interim capacity during this transition period.  Mr Lingo was appointed to the Board as a Non-Executive Director on 11 February 2016.  He is an experienced international resource & energy executive with a proven track record of successfully building companies in the upstream and midstream oil & gas energy sectors. Mr Lingo was recently Managing Director and CEO of Drillsearch Energy Limited and is currently the Managing Director and CEO of Elk Petroleum Limited.
 
The Company also confirms that it has initiated a formal search process to identify a potential new Chairman and additional Non-Executive Directors to further strengthen the Board. Mr Cozijn will continue as a Non-Executive Director.
 
The board wishes to express its thanks to Mr Cozijn for his contribution and dedication to the Company in his role as its founding Chairman.
 
Commenting on the update Mr Lingo said "I look forward to the expanded role as the Company gains momentum in 2017 and seeks to maximise shareholder value from its existing Indian assets and also capitalise on new opportunities in an improving energy market."

http://www.moneyam.com/action/news/showArticle?id=5500927

Oilex Ltd - Trading Halt Request
 
In accordance with ASX Listing Rule 17.1 Oilex Ltd (ASX: OEX, AIM: OEX) hereby requests an immediate trading halt on the Company's securities from the commencement of trading today, 13 March 2017.

In accordance with Listing rule 17.1, Oilex provides the following information:
a) The trading halt is requested pending an announcement by Oilex in relation to a proposed capital raising;
b) Oilex requests the trading halt to remain in place until the earlier of such time as it makes an announcement to the market in relation to the capital raising and the commencement of trading on Wednesday 15 March 2017; and
c) Oilex is not aware of any reason why the trading halt should not be granted or of any other information necessary to inform the market about the trading halt.

Yours faithfully
  
Mark Bolton
Chief Financial Officer and Company Secretary

http://www.moneyam.com/action/news/showArticle?id=5511054

INTERIM REPORT 
31 DECEMBER 2016


http://www.moneyam.com/action/news/showArticle?id=5513589

UK Investor Show 1st APRIL 2017

•2,500+ people attended in 2016
•More than 120 PLCs to man stalls. present and explain their business

Oilex are at this event:

https://www.ukinvestorshow.com/

https://www.ukinvestorshow.com/companies/

31 March 2017
 
ASX: OEX
AIM: OEX
 
Investor Presentation - April 2017
 
Oilex Ltd advises that a copy of an Oilex Investor Presentation dated April 2017 can be viewed by clicking on the below link.
 

http://www.rns-pdf.londonstockexchange.com/rns/1046B_-2017-3-31.pdf 
 
 
For and on behalf of Oilex Ltd

3 April 2017
ASX: OEX
AIM: OEX

Notice of General Meeting

Oilex advises that a General Meeting, will be held at The Park Business Centre, 45 Ventnor Avenue, West Perth, Western Australia on Wednesday 3 May 2017 at 10.00am.

Attached is a copy of the Notice of General Meeting, including an Explanatory Memorandum and Proxy Form, dispatched to shareholders today.

https://www.oilex.com.au/docs/default-source/announcements/170403-notice-of-general-meeting.pdf?sfvrsn=0

4 April 2017
ASX: OEX
AIM: OEX
 
Oilex Engagement via Vox Markets
 
Oilex Ltd (the Company) is pleased to announce, that to facilitate its commitment to transparent and consistent engagement with all shareholders, Oilex has engaged the services of Vox Markets.

The Vox Markets service provides a sophisticated investment community platform with aggregated information from a variety of sources, both regulatory and unregulated.

To access information on Oilex through the Vox platform, investors should download the Vox Markets app www.voxmarkets.co.uk/app and follow 'OEX' at www.voxmarkets.co.uk/company/OEX to receive notifications when Oilex feature in the press, release an RNS or feature on a podcast interview.

http://www.moneyam.com/action/news/showArticle?id=5525828

21 April 2017 
ASX: OEX
AIM: OEX
 
Award of Key Contracts for Cambay-23z Core Analysis
 
Oilex Ltd (the Company) is pleased to announce the award of two key contracts to Schlumberger and Baker Hughes as part of its 2017 work programme at the Cambay PSC. Schlumberger and Baker Hughes will advise on the optimal well and stimulation design required to achieve potential commercial flow rates.
 
The Company has a significant multi TCF gas resource at the Cambay PSC in the EP-IV tight siltstones that requires drilling optimisation and stimulation technologies to achieve commercial flow rates. Both Schlumberger and Baker Hughes are global leaders in the stimulation of tight gas reservoirs and their selection follows a competitive tender process.
 
Schlumberger has been appointed to provide geomechanical, fluid sensitivity and proppant embedment testing on the Cambay-23z core along with their recommendations on future technical work. The data from these tests will be used to carry out the geomechanical modelling required for optimisation studies.
 
Baker Hughes has been appointed to provide detailed geomechanical modelling to assess and recommend optimised drilling and stimulation solutions to maximise production from the EP-IV reservoir.  In addition to providing a functional geomechanical model, Baker Hughes will provide specific recommendations on fluid chemistry and proppant optimisation required for the stimulation of any future wells.
 
The studies have commenced and are anticipated to be completed within approximately 3 months. The analysis of the core from Cambay-23Z is essential in the planning of both future wells and the stimulation process at the Cambay PSC.
 
Mr Joe Salomon said "We are fortunate to be working with world class tight gas experts, Schlumberger and Baker Hughes. Their assistance is important to unlocking the commercial success of the large gas resource at the Company's Cambay project."
  
Joe Salomon
Managing Director

http://www.moneyam.com/action/news/showArticle?id=5534859

28 April 2017 
ASX: OEX
AIM: OEX
 
Mobilisation of Workover Rig at Cambay
 
Oilex Ltd (the Company) is pleased to announce that the workover rig has been mobilised to C-70 at the Cambay PSC (Cambay). The Company plans to complete workovers of two wells, C-70 and C-23z, during May 2017. 
 
The workovers are designed to test production flow rate potential from the OS-II reservoir in areas that the Company anticipates to have remained unswept by earlier production. While the expectations are for modest flow rates, a successful outcome will provide support for a field development plan in regards to the application to extend the term of the PSC to 2029 or the economic life of the field, whichever is earlier.  
 
The C-70 well has an established pipeline connection in place to the existing Cambay processing facility.  A number of options to sell gas from the workovers are currently being evaluated.
 
As agreed with GSPC, the Joint Venture partner, Oilex is to fully fund the workover expenditure and receive all revenue until these costs are recovered. Once costs are recovered, Oilex and GSPC will revert to their participating interests of revenue and expenditure.
 
Joe Salomon, Managing Director, commented:
 
"There are twin objectives for the workovers; to deliver revenue from production whilst also supporting our application to extend the term of the Cambay PSC. While we expect to see relatively modest flow rates from the workovers, the produced gas effectively leverages our existing infrastructure." 
 
Joe Salomon
Managing Director

http://www.moneyam.com/action/news/showArticle?id=5539556

Missed the Q Report Doh!

28 April 2017
oilex ltd

MARCH 2017 QUARTERLY REPORT
 
HIGHLIGHTS

CAMBAY FIELD, ONSHORE GUJARAT, INDIA
»  Oilex received partner and government approval for a revised work programme taking advantage of a lower cost opportunity to analyse core data from existing well C-23z and carry out two workovers.
»  Procurement process for both the core analysis and the two workovers substantially completed.
»  Subsequent to the end of the quarter, Schlumberger and Baker Hughes awarded contract to carry out the C-23z core analysis and studies.
»   Mobilisation of workover rig for C70 and C-23z completed in late April 2017.
»  Confirmation received from government in April 2017 to recommence regular production from C-73 and C-77H.
»   Joint Venture and regulatory approvals obtained for 2016/17 and 2017/18 Work Programme and Budget.
»  During the quarter, the Joint Venture partner released the equivalent US$69,800 (gross) against outstanding cash calls.

BHANDUT FIELD, ONSHORE GUJARAT, INDIA
»   Following technical and economic reassessment, Bhandut-3 was shut-in from 6 October 2016 due to increased water production.
»   During the quarter, the Joint Venture partner released equivalent US$24,000 (gross) against outstanding cash calls.
»   Joint Venture and regulatory approvals obtained for 2016/17 and 2017/18 Work Programme and Budget.
»   Potential opportunities for sale of the PSC continue to be explored.

CORPORATE
»  Two tranche capital raising of approximately £1.1 million (A$1.78 million) to fund work programme at Cambay. Tranche 1 completed in March 2017 with Tranche 2 pending shareholder approval.
»  General Meeting of Shareholders to be held on 3 May 2017 to consider Tranche 2 of capital raising of £0.43 million (A$0.69 million).
»  Mr Brad Lingo appointed as Non-Executive Chairman while Mr Max Cozijn, the previous Chairman, continues as Non-Executive Director.
»   Mr Jonathan Salomon's contract as Managing Director of the Company extended by a further year.
»   Cash resources at 31 March 2017 were $1.83 million.

OPERATIONS REVIEW
OVERVIEW
The Company's primary objective is to maximize shareholder value from its principal asset at Cambay, located onshore Gujarat State in India.
To that end, Oilex continues to evaluate and implement a range of technical programme options to progress the main objective of accessing a multi-TCF gas resource present in siltstones in the EP-IV reservoir.  North American unconventional drilling, completion and stimulation technologies have been applied by the Joint Venture over the last six years with positive but commercially modest results and now work is underway to optimise results for future work programmes. The current technical work programmes focus on:
·       Extracting geological and engineering information from core data with associated studies to match advanced North American drilling and completion technologies with the local basin geology of the EP-IV, and
·        Two planned workovers of existing wells C-70 and C-23z aimed at gas production from the shallower OS-II reservoir in unswept areas in a parallel effort to develop the block at multiple levels.  As agreed with GSPC, the Joint Venture partner, Oilex is to fully fund the workover expenditure and receive all revenue until these costs are recovered. Once costs are recovered, Oilex and GSPC will revert to their participating interests of revenue and expenditure.
 
If successful, this work will assist in finalising an application for extension to the Cambay PSC required to be submitted to the Government of India during September 2017.

HEALTH, SAFETY, SECURITY AND ENVIRONMENT
No lost time incidents recorded during the quarter. Completed first aid and basic firefighting training of employees and their families in India.

***More from Link Below***

http://www.moneyam.com/action/news/showArticle?id=5539575

12 May 2017 
ASX: OEX
AIM: OEX
 
Bhandut and Cambay Updates
 
Oilex Ltd (the Company) is pleased to announce that gas production has re-started at the Bhandut Field after being shut-in for 7 months due to increased water production.  Gas production has restarted at a rate of 150MSCFD with flow rates controlled to minimise produced water.
 
In the Cambay field, workovers are continuing on wells C-70 and C-23z.  The workover rig has completed its work on C-70 and is now working on C-23z.  At C-70 water lifting has been underway prior to a possible flow test operation.

http://www.moneyam.com/action/news/showArticle?id=5548100
 

23 May 2017
 
ASX: OEX
AIM: OEX
 
Cambay Production Update - C-73 and C-77
 
Oilex Ltd (the Company) is pleased to announce that gas production has re-started from C-77 at the Cambay Field.  Gas production has restarted at a rate of 250MSCFD from the Eocene with flow rates at current contracted gas sales volumes.  The current gas sales agreements will be renegotiated to take any additional produced volumes as and when required.  The Company plans to cycle production between C-77 and C-73 as part of its resovoir management.

http://www.moneyam.com/action/news/showArticle?id=5553791

6 June 2017 
ASX: OEX
AIM: OEX
 
Cambay PSC Workover and Project Update
 
Oilex Ltd (the Company) provides the following update on the field workover programme and ongoing activities.
 
Workover Programme
 
The field programme involving the workover of two older wells C-70 and C-23z to test potential production flow rates from the OS-II reservoir has been completed.  The results on C-70 are currently under review with the well returning small volumes of both oil and gas.  A sustained flow has not yet been confirmed and the well is being monitored for clean-up flow.  The Company is considering whether further stimulation is warranted.  The work on C-23z has resulted in an observed water influx into the well bore, however, no hydrocarbons have been recovered. 
 
The field program has been completed under the highest HES controls and has come in under budget.
 
EP-IV Core Analysis
 
Historical core samples from C-23z are currently being analysed and tested by Schlumberger with completion of the work and delivery of results anticipated later in July.  Baker Hughes is currently completing an initial desk study on EP-IV wells in the PSC in advance of undertaking evaluation work to provide direction on the optimal stimulation methodologies for future drilling and testing.
 
Gas Production
 
Cambay gas production is currently being achieved from the C-77H well at approximately 250,000 cubic feet per day.
 
The Bhandut Field is continuing to flow gas at approximately 250,000 cubic feet per day from the Bhandut-3 well.  Water production rates are increasing with the water gas ratio presently at approximately 40%. 
 
Cambay Joint Venture
 
The Company is currently in discussions with several potential partners who are undertaking data room reviews of the EP-IV tight gas potential at Cambay.  Should any change in the structure of the joint venture eventuate, a restructure of the Company's ongoing funding commitment to the Cambay Project may ensue.
 
Work on the Field Development Plan is continuing using both in-house personnel and contracted specialists as part of the application for an extension of the PSC term beyond September 2019.  The application is required to be lodged by September 2017.
 
The Company continues to maintain a constructive dialogue with GSPC in respect of resolving the outstanding cash calls.  

Bhandut Joint Venture
 
Upside exploration potential has been identified on the PSC and the Company is in discussions with a potential buyer for its interest in the Bhandut field.
 
New Business Opportunities
 
The Company continues to evaluate potentially value accretive new business opportunities ranging from discovered undeveloped resources with exploration upside to existing production.  In general, we note the frequency and quality of available opportunities in the sector as presented to the Company has improved markedly in recent months. 
 
Managing Director of Oilex Joe Salomon, said;
 
"The Company remains active in all areas and we continue to work closely with our Indian partner and the Government of Indian, to ensure that the full potential of the Cambay Project can be realised. In addition, we are reviewing several new business opportunities internationally."

http://www.moneyam.com/action/news/showArticle?id=5562160

18 June 2017 
 
Mr Wade Baggott
ASX Limited
Level 40, Central Park
152-158 St Georges Terrace
PERTH WA 6000
 
By email: tradinghaltsperth@asx.com.au
 
Dear Mr Baggott
 
Oilex Ltd - Trading Halt Request
 
In accordance with ASX Listing Rule 17.1 Oilex Ltd (ASX: OEX, AIM: OEX) hereby requests an immediate trading halt on the Company's securities from the commencement of trading Monday 19 June 2017.

In accordance with Listing rule 17.1, Oilex provides the following information:

a)   The trading halt is requested pending an announcement by Oilex in relation to the joint venture cash calls owing by its joint venture partner;
b)   Oilex requests the trading halt to remain in place until the earlier of such time as it makes an announcement to the market in relation to the joint venture cash calls owing and the commencement of trading on Wednesday 21 June 2017; and
c)    Oilex is not aware of any reason why the trading halt should not be granted or of any other information necessary to inform the market about the trading halt.
Yours faithfully
 
 
Mark Bolton
Chief Financial Officer and Company Secretary

http://www.moneyam.com/action/news/showArticle?id=5569506

19 June 2017 
ASX: OEX
AIM: OEX
 
Partial Receipt of Outstanding Cash Calls
 
Oilex Ltd (the Company) is pleased to announce material progress in the resolution of the outstanding cash calls owing to the Cambay and Bhandut PSCs.
 
During the current quarter to date, the Joint Ventures have received the equivalent of US$1.41m million gross in regards to outstanding cash calls from its joint venture partner.
 
After the above-mentioned receipts, the remaining aggregate outstanding cash call balance for the Cambay and Bhandut PSCs is the equivalent of US$5.68m. The Company continues to maintain a constructive dialogue with its joint venture partner to resolve the remaining outstanding cash call balances.
 
 
Managing Director of Oilex, Jonathan Salomon, said;
 
"We continue to work closely with our partner and are pleased with the progress in resolving outstanding cash calls.  We look forward to further cooperation with our Indian partner and the Government of India in pursing the development of the Cambay project."
 
For and on behalf of Oilex Ltd
 
 
Jonathan Salomon
Managing Director

http://www.moneyam.com/action/news/showArticle?id=5569505