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

A most interesting week, maybe helped along by reflecting on the upside of the recent survey report.

All progressing to plan:-

Oilex Ltd said Schlumberger equipment for the fracture stimulation programme at the Cambay-77H Well has started to arrive at site, and that other preparatory activities for the well have also commenced to ensure readiness for the Stage 1 fracture stimulation next week.

"The fracture stimulation mobilisation is taking slightly longer than forecast due to the duration of Schlumberger�"s prior commitment, which was out of Oilex�"s control," the company said.

"The close working relationship between Schlumberger and Oilex has enabled activities to now progress as planned. This should culminate with the production testing of Cambay-77H commencing in August 2014, after a flowback and well clean up period," it said.

May well be an interesting week. An announcement about the start of the frack operation could come at any time soon.

Pushing up strongly this afternoon before an easing into the close. Sign of expectations of imminent good news?

Another RNS to the effect that Magna has increased its already substantial stake here. Question now is, how far do they intend to take it?

Another quite respectable RNS out mid-morning. Showing progress as planned and moving quickly towards a formal flow test.

It's all shaping up good. Topped up this morning...much more to come methinks!

StockMarketWire.com
Oilex confirms significant progress in achieving proof-of-concept objectives for Cambay-77H.

These objectives are critical to demonstrating the Cambay Field can be commercially developed using multi-stage fracture treatments (fracs) in horizontal wells.

Cambay-77H has a very short lateral section of 350m with 8 fracs that were successfully completed in 4 stages.

Managing Director of Oilex, Ron Miller, said;

"Oilex's first mover strategy compares favourably to other successful companies that have been early entrants into newly identified tight/unconventional gas and oil plays.

"Delivering Cambay-77H with its proof of concept objectives is now almost complete. Upon completion of these objectives, Oilex will continue to focus on commercialising the Cambay Field and generating sustainable cash flow and profits for shareholders."

Highlights:

· Efficient drilling operations demonstrating the repeatability of targeting the Y zone

· Y zone reservoir properties are laterally consistent, having variability within expectations

· Successful completion of 8 fracture treatments

· Successfully demonstrated "Plug and Perf" completion technique in India

· First horizontal well in the Cambay Basin with multiple fracture treatments to achieve flowback

· Flowback data used to calibrate horizontal well model for the first time

· Future well designs may have wider frac spacing, leading to significant cost savings.

StockMarketWire.com
Oilex Ltd advises that its Share Purchase Plan (SPP) closed on 16 December 2014. Applications have been received for a total of approximately A$1,671,000 under the SPP (using the exchange rate applicable to the SPP of A$1:GBP0.55).

Underwriters Patersons Securities Limited and DJ Carmichael Pty ("Underwriters") have been notified of the resulting shortfall of A$829,000 which will be taken up by the Underwriters and sub-underwriters to the SPP. This will result in a total fundraise of A$2.5 million before expenses.

19 January 2015

Cambay-77H - Gas Sales Agreement Endorsed, Move to Production

Oilex Ltd is pleased to announce it has received endorsement from the relevant authorities of the Government of India (GoI) for the sale of gas from Cambay Field, specifically from the Cambay-77H well. This latest endorsement by GoI follows the announcements made by the Company on 15 July 2014 and 5 December 2014, in which it was reported that Oilex was authorised to sell gas from Cambay-73 and Bhandut-3 respectively. Today's announcement represents another important milestone for increasing production from the field and supplying gas to the local market, where users are currently paying a premium to Brent and WTI on an energy equivalent basis.

The Cambay Joint Venture will now establish the appropriate production facilities for Cambay-77H and initially connect Cambay-77H to a low pressure pipeline grid to service the local area. An approval to sell gas from Cambay-77H and Cambay-73 removes part of the contingency in the assessment of recoverable quantities of gas as Reserves.

Netherland Sewell and Associates Inc. (NSAI) prepared the Independent Resource Assessment contained in the Oilex announcement dated 11 October 2011. NSAI confirmed Contingent Resources within the Cambay Contract Area of:see link at BOP

Oilex has now engaged NSAI to prepare an updated Independent Resource Assessment based on the additional production and other acquired data. This update may result in some Contingent Resources being classified as Reserves.

Cambay-77H is the first horizontal multistage frac'd well to be successfully production tested in India. The production test results were announced by the Company on 8 December 2014 and are interpreted to demonstrate that commercial development of the Cambay Field is feasible. The test results and data from Cambay-77H have been incorporated into a comprehensive model and the initial modelling results demonstrate strong well economics - as announced on 12 December 2014. These well economics continue to be encouraging despite the sharp drop in oil prices since that date.

Oilex is now working towards putting three wells in two separate fields into production, during H1 2015. Oilex will recommence gas production in the Cambay Field for the first time since the early 1990's. Production from these wells will be a substantial step towards cash positive operations in India for the Company as a result of the strong gas demand and associated robust gas price structure. The outlook for the Indian economy remains positive as the cost of imported energy reduces, stimulating further growth.



Managing Director of Oilex, Ron Miller, said;

"We are very pleased to receive this endorsement from the Government of India to sell gas from Cambay-77H. The contracted price remains commercial-in-confidence, and revenue from Cambay-77H will significantly move the India assets towards our 2015 goal of cash flow positive operations. Gas demand remains strong in India and prices firm which helps cushion the recent fall in oil prices. Oilex looks forward to the next drilling campaign and having sufficient gas deliverability to consider delivery of pipeline quality gas to the high pressure grid located approximately 7 km from the field."

For and on behalf of Oilex Ltd

Ron Miller
Managing Director

http://www.moneyam.com/action/news/showArticle?id=4960525

21January 2015

ASX: OEX

AIM: OEX

Interview with Oilex Vice Chairman

Oilex Ltd provides an opportunity to watch a video interview with Oilex Vice Chairman, Mr Sundeep Bhandari.

The video can be viewed on the Oilex website: www.oilex.com.au under "Latest News".

For and on behalf of Oilex Ltd

Ron Miller

Managing Director

https://www.oilex.com.au/investor-information/announcements/announcements-detail/2015/01/21/interview-with-oilex-vice-chairman---big-'opportunity'-for-oilex-in-india

28 January 2015

Appointment of UK Based Non-Executive Director



• Jeffrey D. Auld appointed as a UK based Independent non-executive director of Oilex Ltd

• Strong commercial and financial background in upstream oil and gas for 24 years




Oilex Ltd is pleased to announce the appointment of Mr. Jeffrey D. Auld (48) as a UK based independent non-executive director. Mr. Auld has over 24 years of experience in the oil and gas sector focused on financial and commercial management in upstream oil and gas development and production. His career spans working for a number of major financial institutions, including Macquarie Capital (Europe) Limited in London where he served as Managing Director - Head of EMEA Oil and Gas. Other financial institutions include Canaccord Adams Limited and Goldman, Sachs & Co.

In addition to tenure with financial institutions, Mr. Auld's experience includes corporate and commercial management in exploration and production companies such as LSE-listed Premier Oil Plc, PetroKazakhstan Inc. and Equator Exploration Limited. Mr. Auld currently holds directorships in AIM-listed Lansdowne Oil and Gas plc., Sabalo Energy Limited and Burnt Stick Advisors Limited.

Mr. Auld brings to the Oilex Board a wealth of experience and knowledge of capital markets and upstream development financing strategies. These skills are important for the next stage of growth for Oilex through increasing production at the Cambay Field in India after recently completing proof of concept activities on the Cambay-77H well.

Other than the information detailed in this announcement, there is no further information required to be disclosed under paragraph (g) of Schedule 2 of the AIM Rules.

Chairman of Oilex, Max Cozijn, said;

"The appointment of Jeffrey Auld as a director of Oilex Ltd is a key step towards further raising the Company's profile in London and the AIM market. Having a director, experienced in the London Capital Markets and upstream industry, resident in the market, where a majority of our shareholders are based and shares are traded, will enhance the understanding and profile of Oilex. On behalf of all the directors, I welcome Jeffrey to the Board and look forward to his positive contribution to the ongoing development of Oilex."

http://www.moneyam.com/action/news/showArticle?id=4966243

Jan 30, 2015

Quarterly Report 31 December 2014


Summary

CAMBAY PSC, ONSHORE GUJARAT, INDIA

•Successfully finished the Cambay-77H production test
•Delivered the Proof of Concept, demonstrating the Cambay Field can be commercially developed
•Initial production profiles indicate robust economics, despite the recent sharp drop in oil prices
•Government of India approve the grant of an extension of the Petroleum Mining Lease for the Cambay Field to 22 September 2019


BHANDUT FIELD, ONSHORE GUJARAT, INDIA

•Endorsement from the Government of India for the sale of gas from the Bhandut-3 well, located within the Bhandut Field
•Commenced establishing production facilities for Bhandut-3, including a compressed natural gas (CNG) loading facility that will enable CNG “bullet” trucks to be loaded at site for transportation of the gas to end users


STP-EPA-0131 (Formerly SPA 17 AO), ONSHORE CANNING BASIN, WESTERN AUSTRALIA

•WA Department of Mines and Petroleum (DMP) approval of Oilex’s application to convert the Special Prospecting Authority (SPA 17 AO) to Exploration Permit Application
•The newly acquired survey data with 2D seismic, regional gravity, magnetic, surface geological and well data, confirms Oilex’s structural model of the Wallal Graben and its extension into STP-EPA-0131


CORPORATE

•Completion of Share Purchase Plan raising a total of A$2.5 million before costs
•On 28 January 2015 Oilex announced the appointment of Mr Jeffrey D Auld as an independent Non-Executive Director. The appointment of a UK based independent non-executive director, with significant experience in the London capital markets and upstream oil and gas industry, is in line with the Company’s decision to appoint additional directors to achieve the right mix of skills, experience and diversity which reflects the Company’s strategy and increase the balance of independence on the Board.

To view the entire document, please click on the link below.

https://www.oilex.com.au/docs/default-source/announcements/150130-december-2014-quarterly-report.pdf?sfvrsn=0

Oilex - Cambay economics underpinned by significant excess demand for gas
By Jamie Ashcroft
January 30 2015, 8:36am


“The Cambay field is expected to have robust economics, despite the recent sharp drop in oil prices,” Oilex said.


The economics of production from Oilex’s (LON:OEX) Cambay field are underpinned by significant excess demand for gas within India’s domestic market, the company says.

In a quarterly update Oilex told investors that due to demand for gas from nearby industrial users a strong pricing has been secured for Cambay’s production, and this is above the floor price recently established by the Indian government.

It adds that due to the proximity of existing industry (15kms away) there is also “very low” capital cost associated with gas sales to the local market, and the tie-in to existing gas transmission pipeline network.

“The Cambay field is expected to have robust economics, despite the recent sharp drop in oil prices,” Oilex said.

Financial modelling of the next three Cambay wells indicate, subject to the well’s configuration, recoveries between 531,000 to over 1mln oil equivalent barrels over a 10 year period. This would yield between US$1 (for the smaller configuration) and more than US$20 per oil equivalent barrel, and indicates well payback of 48 to 12 months respectively.

A well with a 700 metre lateral and 9 fracks compares favourably with the prior commercial assessment of the project, Oilex said, and in that scenario the total recover is assumed to be 680,000 boe with an NPV of US$15 per boe and a payback period of 22 months.

These financial models are based upon a price of US$8 per thousand cubic feet of gas, and a US$70 per barrel price of oil.

Oilex said the full field economics will be assessed after the completion of engineering studies for the project.

In the period under review, the three months to December 31, Oilex achieved its proof of concept work with the completion of the Cambay 77H well.

Oilex Production Temporarily Falls After Well Shut In At Cambay Field
Alliance News 30 January, 2015 | 9:26AM

LONDON (Alliance News) - Oilex Ltd Friday said production from the company's flagship Cambay field in India fell in the last quarter, but it said production should increase after the company brings a new production well online in the near future.

The company produced 849 barrels of oil during the three months ended December 31, which all came from the Cambay field in India. This represents a 43% decrease quarter on quarter, which was due to the shut in of the Cambay 77-H well after Oilex finished production testing.

Oilex said it is focusing on bringing the Cambay 77-H well into production "as soon as possible".

The company said the Cambay field is expected to have "robust economics" despite the low oil price, and Oilex said the government of India has granted an extension to the Petroleum Mining Lease for the Cambay field recently and endorsed the sale of gas as well.

At the Sabarmati field, the company is expecting to plug and abandon the Sabarmati-1 well in the first quarter after the government approved Oilex's request to relinquish the field, it said. Oilex plans to transfer equipment from Sabarmati for possible future use at the Cambay field.

Farm-out talks are ongoing for the Canning basin in western Australia. Oilex said it has supplied prospective partners with new data from the field and a commitment programme to which it would expect them to adhere.

ASX Announcement
5 February 2015

INVESTOR PRESENTATION - FEBRUARY 2015


Oilex Ltd advises that a copy of an Oilex Investor Presentation dated February 2015 can be viewed by clicking on the below link.

http://www.rns-pdf.londonstockexchange.com/rns/0990E_-2015-2-4.pdf


http://www.moneyam.com/action/news/showArticle?id=4971970

OILEX LTD


CONDENSED CONSOLIDATED INTERIM FINANCIAL REPORT

For the half-year ended 31 December 2014


Review of Operations

Oilex is continuing its transition to an early mover unconventional energy producer, focusing on assets around the Indian Ocean Rim. The Company is evaluating and commercialising the extensive Eocene low permeability ("tight") reservoirs in its onshore Cambay Field project located in the state of Gujarat, India, where energy market fundamentals are attractive. Oilex is applying tight reservoir evaluation, drilling and production techniques which have been developed in recent years in the rapidly expanding shale gas and tight oil ("SGTO") industry in North America. Oilex also has a large acreage position in the onshore Canning Basin, Western Australia, which is anticipated to be prospective for conventional and SGTO resources. The interest in the exploration asset offshore Timor Sea is currently under temporary suspension of the PSC for a further 3 month period to April 2015 to enable the completion of the ANP legal assessment and continued discussion between the parties to address the way forward. Oilex is pursuing enforcement of the Arbitration Award with respect to its interest in the West Kampar PSC, onshore Sumatra, Indonesia.

Cambay Field

Significant progress was achieved during the period on the Cambay Field development. The Company successfully completed the Cambay-77H production test. The test was focused on acquiring long term performance data which is essential for assessment of reservoir properties and will supplement surface data collected during flowback. A 5 day shut-in period preceded the test to allow the well to stabilise after ~ 85 days of flowback production. Cambay-77H produced 3,372 bbls (net to Oilex 1,517 bbls) of light oil which was sold to a local refinery and 43 MMscf of gas which was flared for the safety of personnel and equipment at site.

Delivering the Proof of Concept

Proof of Concept objectives are critical to demonstrating that the Cambay Field can be commercially developed using multi-stage fracture treatments (fracs) in horizontal wells. Key objectives achieved include:

· Efficient drilling operations demonstrating the repeatability of targeting the Y zone

· Y zone reservoir properties are laterally consistent, having variability within expectations

· Successful completion of 8 fracture treatments

· Successfully demonstrated "Plug and Perf" completion technique in India

· First horizontal well in the Cambay Basin with multiple fracture treatments to achieve flowback

· Flowback data used to calibrate horizontal well model for the first time

· Future well designs may have wider frac spacing, leading to significant cost savings



Gas sales agreements

Oilex has concluded two gas sale agreements ("GSA") to date. GSAs are conducted via a bid system, with buyers submitting offers to purchase via a tender process. Given the demand for gas by nearby industrial users, strong pricing is secured, above the floor price recently established by the Indian Government.

During the period Oilex received the endorsement from the relevant Government of India authorities for the Gas Sales Agreement for the sale of Cambay-73 gas, a critical milestone for increasing production from the field and supplying gas to the local market. With Cambay-73, gas production from the Cambay Field will recommence for the first time since the early 1990's.

Bhandut Field

During the period Oilex received endorsement from the Government of India for the sale of gas from the Bhandut-3 well, located within the Bhandut Field. This is a critical milestone for returning the field to production, supplying gas to the local market and generating positive cash flow for the Company from a previously idle asset.

Now that endorsement of the gas sales agreement has been received, the Bhandut Joint Venture will proceed to establish the appropriate production facilities for Bhandut-3. This will include a compressed natural gas ("CNG") loading facility that will enable CNG "bullet" trucks to be loaded at site for transportation of the gas to end users. Bhandut-3 gas is "lean" and therefore no material condensate production is expected.

Sabarmati Field

During the period the Joint Venture finalised cost estimates for the plug and abandonment of the Sabarmati-1 well and commenced the process to obtain Government of India approval to relinquish the Sabarmati Field. Plug and abandonment activities are expected to be completed during the remainder of Q1 2015. As part of the relinquishment of the Sabarmati Field, Oilex plans to transfer equipment from Sabarmati EPS facility for possible future use at Cambay Field.

Canning Basin

During the period the WA Department of Mines and Petroleum (DMP) approved Oilex's application to convert the Special Prospecting Authority (SPA) (SPA 17 AO) to Exploration Permit Application (STP-EPA-0131).

The committed work program for SPA 17 AO was fulfilled by the acquisition, processing and interpretation of a 4,060 line km gravity gradiometry/magnetic survey ("Survey"). Under the terms of the SPA, Oilex had exclusive rights to negotiate a formal exploration permit with the Government of Western Australia. The terms of the SPA state that the area retained as an exploration permit from within the SPA is limited to 30-50% of the total area.

The final report for SPA 17 AO incorporating the newly acquired Survey data with 2D seismic, regional gravity, magnetic, surface geological and well data, confirmed Oilex's structural model of the Wallal Graben and its extension into SPA 17 AO.

The graben is present in Oilex's three, 100%-owned, exploration areas encompassing approximately 11,900 km2 (~3 million acres). The acreage is in a unique position in the Canning Basin as it is adjacent to many world class mining projects in the Pilbara region. This activity has led to the development of a significant amount of infrastructure in the area with the Great Northern Highway, numerous sealed roads, good quality graded roads and multiple airstrips being present within the Oilex acreage.

Oilex continues to negotiate Native Title agreements with Traditional Owners. Upon finalisation of the agreements the regulatory process of conversion of STP-EPA-0106 and STP-EPA-0107 to formal exploration permits will commence.

Financial

The Group incurred a consolidated loss after income tax of $3,118,088 for the half-year (31 December 2013: loss of $2,776,134). Revenue for the period has increased due to increased production from the Cambay Field. The loss includes $1,040,131 (31 December 2013: $1,058,838) incurred on exploration expenditure and $1,718,780 (31 December 2013: $1,637,860) incurred on employee and administrative expenditure. The Company's focus on reducing costs, which do not impact its technical and commercial capabilities, is continuing. Cash and cash equivalents held by the Group as at 31 December 2014 totalled $5,426,328 (30 June 2014: cash and cash equivalents $7,455,572).

Significant Events After Balance Date

Oilex received approval from the Government of India for the grant of an extension of the Petroleum Mining Lease for the Cambay Field to 22 September 2019.

The receipt of endorsement from the relevant authorities of the Government of India for the sale of gas from Cambay Field, specifically from the Cambay-77H well.

The Autoridade Nacional do Petroleo ("ANP") with prior consent of the Joint Commission for the Joint Petroleum Development Area under the Timor Sea Treaty, advised on 16 January 2015 that it had further extended the expiry date of the PSC from 15 January 2015 to 15 April 2015 for the purpose of completing an assessment and to continue discussions with the Joint Venture partners.

Significant Events After Balance Date (Continued)

On 28 January 2015 Oilex announced the appointment of Mr Jeffrey D Auld as a Non-Executive Director. The appointment of a UK based independent non-executive director, with significant experience in the London Capital markets and upstream oil and gas industry is in line with the Company's decision to appoint additional directors to achieve the right mix of skills, experience and diversity which reflects the Company's strategy and increase the balance of independence on the Board.

There are no other significant subsequent events occurring after balance date.

Link below for full announcement:

http://www.moneyam.com/action/news/showArticle?id=4975251

12 February 2015

Interview with Oilex Managing Director

Oilex Ltd provides an opportunity to watch a video interview with Oilex Managing Director, Mr Ron Miller.

The video can be viewed on the Oilex website: www.oilex.com.au under "Latest News".

http://www.moneyam.com/action/news/showArticle?id=4976388


https://www.oilex.com.au/investor-information/announcements/announcements-detail/2015/02/12/interview-with-oilex-managing-director---oilex-on-target-to-go-cash-flow-positive-

19 February 2015
ASX: OEX
AIM: OEX

Appendix 3B - Issue of Employee Options

Dear Sirs

We enclose an Appendix 3B advising of the following issue of employee options:

· 500,000 Unlisted Options exercisable at $0.25 vesting 16 February 2015, expiring 16 February 2018;

· 500,000 Unlisted Options exercisable at $0.35 vesting 16 February 2016, expiring 16 February 2019.

http://www.moneyam.com/action/news/showArticle?id=4980072

9 March 2015



India Operations Update



· Cambay 2015-2016 work program and budget approved

o 2 firm wells + 2 contingent wells and 5 firm workovers to enhance production

· Tendering process for long lead equipment has commenced

· Updated independent Reserves and Resource statement anticipated to be complete during April 2015

· Progressing facilities construction, with increased production expected in H2 2015

· Engineering studies for permanent gas processing facilities have commenced

· Head of India Assets appointed to lead operational activities




Oilex Ltd is pleased to provide the following update of activities at the Company's Indian Assets.

Cambay Field

Work program and budget 2015/16

Subsequent to the successful flowback and production testing of the proof of concept well, Cambay-77H, Oilex commenced planning for the 2015/16 work program year. The work program has been approved by both the Joint Venture and the Government of India. Oilex has commenced work on schedule critical tendering activities and expects to take advantage of the recent decrease in global oil & gas activity to achieve a reduction in drilling and other costs.

The work program consists of a firm 2 well drilling campaign and 2 contingent wells for which all long lead items will be procured concurrently such that a timely decision can be made to commit to the contingent wells. Additional detail regarding the wells and their locations are included in an addendum to this announcement. The first well is expected to spud late in H2 2015, subject to the finalisation of funding. Full diameter core across the Y zone will be collected in each firm well. Special analyses will be conducted on each core and the data obtained from the analyses will be used to finalise the frac design for each well. Core analysis is widely undertaken in North America and it is anticipated that core data will enable a better frac efficiency to be achieved compared to Cambay-77H.

Update of independent Reserves and Resource Statements

The Company has compiled production data for the past 3 years, as well as data for Cambay-77H and Cambay-73 into a comprehensive package to enable an update of the October 2011 Resource Statement. The updated Independent Reserves and Resource statement is scheduled for completion during April 2015.

Production and facilities

Construction of production facilities at Cambay-73 is on track and approximately 50% complete.

Prior to the commencement of the horizontal well drilling campaign, the JV plans to commence a 5 well work-over campaign to boost oil and possibly gas production. This work-over campaign is integral to achieving the Company's target of cash flow positive operations in India during 2015, excluding CAPEX. By finishing the work-over program before the drilling campaign, deployment of manpower and equipment can be optimised.

Engineering studies for permanent production and gas treatment facilities has commenced. These studies will examine the cost and schedule parameters of a range of throughput sizes as part of the development planning for the field. The work includes conceptual design of a small throughput plant that would enable pipeline quality gas to be sold into the gas grid relatively quickly and thus tapping into a larger market. Other engineering studies have commenced to determine the temporary production facilities for Cambay-77H.



Bhandut Field

Design engineering work has commenced for the gas production facilities required for Bhandut-3 and discussions are in progress regarding the gas transportation arrangements provided by the buyer. The design work is ~ 40% complete. Procurement of equipment will commence after the design has been finalised and delivery of critical equipment will govern the start of Bhandut-3 gas production.



People

Jayant R. Sethi has assumed the role of Head of India Assets and is now in charge of daily operations in India. A trained geologist with strong contracts and project management experience in Cairn India's organisation, Jayant brings technical and operational leadership experience to the organisation and will be responsible for delivery of the next drilling campaign.



Managing Director of Oilex, Ron Miller, said;

"Oilex is very pleased with the strong support of the Government of India and rapid approval of the 2015/16 work program for the Cambay Field after the successful proof of concept activities at Cambay-77H. We are moving forward with the planning and preparation for the work-over and drilling campaigns both of which target increasing production, cashflow and reserves from our India assets. The strong growth outlook for the Indian economy together with a significant shortage of gas and substantial gas demand provides a robust environment for future gas prices which helps to shield Oilex from the full impact of low oil prices."

For and on behalf of Oilex Ltd


Ron Miller

Managing Director

http://www.moneyam.com/action/news/showArticle?id=4991179