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OILEX LTD - Dual Listed Oil & Gas Explorer (OEX)     

Alex 36 - 01 Nov 2012 11:04



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

banjomick - 19 Jun 2017 09:04 - 239 of 293

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

banjomick - 31 Jul 2017 11:44 - 240 of 293

1 July 2017

OILEX LTD
JUNE 2017 QUARTERLY REPORT

http://www.moneyam.com/action/news/showArticle?id=5607015

banjomick - 24 Aug 2017 09:19 - 241 of 293

24 August 2017

ASX: OEX
AIM: OEX


Core Analysis and Review Confirms Cambay Potential

Oilex Ltd (the Company) is pleased to announce that the C-23z core analysis has been completed. The analysis, by Schlumberger and Baker Hughes has confirmed that the EP-IV tight siltstones at Cambay can be effectively stimulated, and that commercial gas flow rates are potentially achievable.

The Company has a significant multi TCF gas resource at the Cambay PSC in the EP-IV tight siltstones that requires drilling and stimulation optimisation technologies to achieve commercial flow rates. Schlumberger and Baker Hughes were appointed to complete the core analysis and to report on the reasons for under-performance of past wells. The purpose of their work was to identify any substantial impediments to achieving potential commercial flow rates and to advise on the optimal well and stimulation design required to take the project forward.

Both Schlumberger and Baker Hughes are global leaders in the stimulation of tight gas reservoirs. Schlumberger was appointed to provide geomechanical testing, fluid sensitivity testing and proppant embedment testing on the core. The data from these tests along with past well and production histories were incorporated into a review by Baker Hughes to assess the suitability of the reservoir rocks for drilling and stimulation and to also identify methodologies to maximise production from the EP-IV reservoir.

The key observations from the expert core testing and optimisation analysis are as follows:


· The reservoir rocks have the essential characteristics for the development of suitable fractures required to increase exposure to the reservoir and to increase gas flow rates under production. This substantively removes a concern over relative rock strength in the Cambay being lower than many North American projects.

· Placement of the fractures within the overall reservoir section is critical to achieve optimum fracture length and direction and to ensure that the factures are constrained within the reservoir section. On prior vertical wells the fractures propagated vertically rather than the laterally within the reservoir, thus providing little benefit.

· Reservoir temperature and pressure offer no specific challenges to the application of the stimulation technologies.

· Clays within the EP-IV reservoir rocks are subject to modest swelling which can be effectively ameliorated with readily available fluid additives.

· Proppant selection is important to maintain the necessary conductivity for sustained production. Readily available higher strength proppants than used previously are recommended.

· Given the relative softness of the reservoir, it is critical to avoid over-flushing of proppant, which in past wells resulted in the loss of communication between fractures and wellbore, leading to significant production under-performance. This does not present any major technical challenge, instead requires active planning and management during stimulation operations.

· Different stimulation fluids are required to optimise the stimulation phases and ensure effective initial fracture propagation and subsequent proppant placement whereas prior wells used a single gel based fluid.

Mr Joe Salomon said "We are very pleased that the review and analysis has confirmed the substantive potential of the EP-IV reservoir at Cambay, and that it has provided specific solutions to be employed in the execution of future drilling and well completion programmes. These findings have confirmed the importance of implementing a tailored approach to unlocking the potential commercial success of the large gas resource at the Company's Cambay project."

http://www.moneyam.com/action/news/showArticle?id=5638619

banjomick - 29 Aug 2017 08:12 - 242 of 293

29 August 2017
ASX: OEX
AIM: OEX

Investor Presentation - August 2017

Oilex Ltd advises that a copy of an Oilex Investor Presentation dated August 2017 can be viewed by clicking on the below link.

http://www.rns-pdf.londonstockexchange.com/rns/1005P_-2017-8-29.pdf

http://www.moneyam.com/action/news/showArticle?id=5642315

banjomick - 04 Sep 2017 08:22 - 243 of 293

4 September 2017

Issue of Shares

Oilex advises that it has issued 13,809,266 ordinary shares following exercise of 11,722,222 broker options at 0.225 pence expiring 22 May 2020 together with the issue of 2,087,044 shares as consideration for consulting services.

Oilex gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) (Act) that:

1. Oilex issued the Shares without disclosure to investors under Part 6D.2 of the Act;


2 as at the date of this notice, Oilex has complied with:



(a) the provisions of Chapter 2M of the Act as they apply to Oilex; and



(b) section 674 of the Act; and



3 as at the date of this notice, there is no information that is 'excluded information' within the meaning of sections 708A(7) and 708A(8) of the Act.


The Company advises that application has also been made for the admission to trading on AIM and it expects the shares to be admitted to trading on AIM on 7 September 2017.

http://www.moneyam.com/action/news/showArticle?id=5650440

T110Mikey - 06 Sep 2017 08:59 - 244 of 293

Anyone subscribing to the MoneyAM Level 2 platform please take note that most days it is not reporting the correct Trade High nor Trade Low information and "some days" not reporting the correct Opening Price or Closing Price.

The reason is because MoneyAM's Level 2 system is not sensing the Auto Trades or Ordinary Trades correctly so is wrongly reporting them

MoneyAM has been unable to fix the fault for over 8 weeks now but are still charging full price for their Level 2

banjomick - 26 Oct 2017 10:12 - 247 of 293

6 October 2017
OILEX LTD

SEPTEMBER 2017 QUARTERLY REPORT

http://www.moneyam.com/action/news/showArticle?id=5718991

banjomick - 12 Dec 2017 08:25 - 248 of 293

12 December 2017

ASX: OEX
AIM: OEX


Agreement Secures Funding of up to A$2.35 million

Oilex Ltd (the Company) is pleased to announce that it has entered into subscription agreements for a conditional capital raising to secure funding of up to A$2.35 million (£1.33 million).

The funding is an important step for the Company following the submission of its application for the PSC licence renewal extension for Cambay and provides funding certainty to fast track commencement of the 2018 work programme upon the licence renewal.

Key Placement Terms

The placement, part of which is subject to certain conditions set out below, will secure up to A$2.35 million before expenses through the issue of up to 507,134,736 fully paid ordinary shares. The placement will occur in two tranches structured as follows:

Tranche 1 The Company will issue 157,894,736 Shares at an average issue price of A$0.0038 (0.215 pence) to raise up to A$0.6 million (£0.34 million) in accordance with its 15% placement capacity under ASX Listing Rule 7.1; and

Tranche 2 The Company will issue approximately 349,240,000 shares at a price of A$0.005 (0.283 pence) to raise a further A$1.75 million (£0.99 million)

Tranche 1 is due to settle in January, but no later than 31 January 2018. The issue of the Tranche 2 shares is subject to shareholder approval, as well as the successful extension of the Cambay PSC by the Government of India for a further ten years on or before 31 March 2018. The Company anticipates holding its general meeting to approve Tranche 2 in the first quarter of 2018.

The placees include new institutional investor, Republic Investment Management Pte Ltd (Republic). Following the completion of Tranche 1 Republic is anticipated to hold an approximate 7% interest in Oilex, and will increase its holding to approximately 19.9% following the completion of Tranche 2.

Use of Funds

Funds raised from the placement are intended to primarily be applied to initiate the delivery of a targeted 2018 work programme within the Cambay PSC and for ongoing working capital requirements. The 2018 work programme includes up to nine workover candidates and two vertical wells at Cambay.

Commenting on the placing, Managing Director Mr Joe Salomon said. 'We are very pleased to secure the support of a new cornerstone shareholder. The funds raised will kick off our targeted 2018 work programme to unlock potential value at Cambay. We enter the new year with renewed momentum, a clear strategic focus, and increasing financial strength - we are confident that our work programme, with funding arriving in due course to support it, will see the company start to deliver Cambay's potential value for investors."


For and on behalf of the Board


Jonathan Salomon
Managing Director
http://www.moneyam.com/action/news/showArticle?id=5777103

banjomick - 19 Jan 2018 11:32 - 249 of 293

Key dates

Second Quarter Report---------------------January

Interim Report 31 December---- ----------March

Third Quarter Report------------------------April

Fourth Quarter Report-----------------------July

Financial Report YE 30 June-----------------September

Annual Report Published & Notice of AGM--October

First Quarter Report--------------------------October

Annual General Meeting in Perth----------- November

http://www.oilex.com.au/investor-information/financial-calendar.html

banjomick - 01 Feb 2018 13:49 - 250 of 293

From 7:00 today:

1 February 2018
ASX: OEX
AIM: OEX

Notice of Initial Substantial Holder (603)

Oilex Ltd (the Company) is pleased to advise that Republic Investment Management Pte Ltd has notified the Company that it has an initial relevant interest in 131,578,948 fully paid ordinary shares, representing 7.04% of the ordinary shares on issue.

The shares were issued at A$0.0038 per share as part of the Tranche 1 placement of A$600,000 announced on 12 December 2017. The two tranche placement which secures up to A$2.35 million, is an important step for the Company and provides funding certainty to fast track commencement of the 2018 work programme upon the Cambay PSC licence renewal.

The Tranche 2 issue of approximately 349,240,000 shares at a price of A$0.005 (0.283 pence) to raise a further A$1.75 million (£0.99 million) is subject to shareholder approval, as well as the successful extension of the Cambay PSC by the Government of India for a further ten years on or before 31 March 2018. The Company anticipates holding its general meeting to approve Tranche 2 in March 2018.


Please refer to the attached Form 603.

http://www.rns-pdf.londonstockexchange.com/rns/5663D_-2018-2-1.pdf

http://www.moneyam.com/action/news/showArticle?id=5838628

banjomick - 22 Feb 2018 09:51 - 251 of 293

INTERIM REPORT 31 DECEMBER 2017

CONTENTS



Directors' Report

Auditor's Independence Declaration

Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income

Condensed Consolidated Statement of Financial Position

Condensed Consolidated Statement of Changes in Equity

Condensed Consolidated Statement of Cash Flows

Notes to the Condensed Consolidated Interim Financial Report

Directors' Declaration

Independent Review Report

http://www.moneyam.com/action/news/showArticle?id=5865577

banjomick - 26 Feb 2018 09:48 - 252 of 293

26 February 2018
ASX: OEX
AIM: OEX

Investor Presentation - February 2018

Oilex Ltd advises that a copy of an Oilex Investor Presentation dated February 2018 can be viewed by clicking on the below link.

http://www.rns-pdf.londonstockexchange.com/rns/8602F_-2018-2-26.pdf

http://www.moneyam.com/action/news/showArticle?id=5868753

banjomick - 01 Mar 2018 09:00 - 253 of 293

07:00 Oilex Ltd (OEX) Appendix 3B Issue of Shares and Section 708 Notice RNS
07:00 Oilex Ltd (OEX) Appendix 3Y B Lingo RNS
07:00 Oilex Ltd (OEX) Appendix 3Y P Haywood RNS

http://www.moneyam.com/action/nav/news?epic=OEX

banjomick - 29 Mar 2018 09:56 - 254 of 293

29 March 2018
ASX: OEX
AIM: OEX

Amendment to T2 Capital Raising Conditions

Oilex Ltd (the Company) is pleased to advise that it has agreed with subscribers to amend the Tranche 2 conditions pursuant to the subscription agreements for the capital raising announced on 17 December 2017.

The completion of the Tranche 2 of the capital raising is subject to the successful extension of the Cambay PSC by the Government of India for a further ten years on or before 31 March 2018. The parties have today agreed to extend this date to 30 April 2018.

Tranche 1 issue of the capital raising was completed on 29 January 2018.

A formal response on the application for the Cambay PSC extension is anticipated by June 2018 although the Company believes that response may be received sooner.

For and on behalf of Oilex Ltd

http://www.moneyam.com/action/news/showArticle?id=5912831

banjomick - 04 Apr 2018 10:09 - 255 of 293

4 April 2018
ASX: OEX
AIM: OEX

MoPNG Approves Application for PSC Extensions

Oilex Ltd (the Company) is pleased to announce that it has received notice that the Ministry of Petroleum and Natural Gas (MoPNG) has approved the proposal for the grant of ten year extensions to the Cambay and Bhandut PSCs.

The Director General of Hydrocarbons has been requested by the MoPNG to hold the Management Committee Meeting and take the necessary action in accordance with the Government of India policy on the extension of small and medium sized discovered fields dated 28 March 2016.

The Company wishes to thank its team in India for their outstanding contribution and the Director General of Hydrocarbons and the MoPNG for their timely consideration of the applications for extensions.


Managing Director, Joe Salomon said, "This is a major milestone for the Company and follows more than a year of dedicated effort by the Oilex team with the strong support from the Government of India. The extension will provide intrinsic value to our Indian projects and the Company, supported by increased interest from several Indian and foreign parties for possible participation in the Cambay PSC. Our efforts are now geared towards achieving commercial gas flow rates in the EP-IV formation. Our confidence in India as a country of immense potential remains resolute and the Company continues to evaluate additional project opportunities where we can apply international technologies and capitalise on the expertise of our team."

http://www.moneyam.com/action/news/showArticle?id=5917779

banjomick - 15 May 2018 08:05 - 257 of 293

15 May 2018
ASX: OEX
AIM: OEX

Issue of Shares and Section 708A(5)(e) Notice

Oilex Ltd (the Company) is pleased to advise that it has issued 125,000,000 new ordinary shares at an issue price of $0.004, raising $500,000 (Placement). Funds raised from the Placement are intended to be applied to the working capital requirements of the Company. The Placement is in relation to the capital raising announced 30 April 2018.

The placees include Republic Investment Management Pte Ltd who has increased its holding to approximately 12.2% following the completion of the Placement.

The Company further advises that it has issued 2,770,800 new ordinary shares. These shares have been issued in lieu of Non-Executive Directors' fees as approved by shareholders on 29 November 2017.

These new ordinary shares were issued at a price of AUD $0.005 (approximately 0.0028 pence) per Share.

http://www.moneyam.com/action/news/showArticle?id=5970569

banjomick - 17 May 2018 08:08 - 258 of 293

17 May 2018
ASX: OEX
AIM: OEX

Notice of Change of Interests of Substantial Holder

Oilex Ltd (the Company) is pleased to advise that Republic Investment Management Pte Ltd has notified the Company that it has a relevant interest in 244,078,948 fully paid ordinary shares, representing 12.19% of the ordinary shares on issue following the issue of 112,500,000 new ordinary shares.

The shares were issued at A$0.004 per share as part of the placement of A$500,000 announced on 30 April 2018.

Please refer to the attached Form 604.

http://www.rns-pdf.londonstockexchange.com/rns/3563O_-2018-5-17.pdf

http://www.moneyam.com/action/news/showArticle?id=5974333
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