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

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

Oilex updates Indian assets
Written by Audrey Raj Tuesday, 10 March 2015

Oilex Ltd plans to drill four new wells in the Cambay Field, located in the State of Gujarat, India.

Approved by the Cambay Field Joint Venture (JV) and the Government of India, the work program includes two firm wells and two contingent wells.

Scheduled to run in the course of two years commencing 2015, the first well is expected to spud late this year, subject to the finalisation of funding.

Tendering activities are currently underway and the company expects to take advantage of the recent decrease in global oil and gas activity to achieve a reduction in drilling and other costs.

Image: Cambay Field

“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,” said Ron Miller, managing director, Oilex.

“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.”

Construction of production facilities at Cambay-73 is 50% complete and the JV plans to commence a five well work-over campaign to boost oil and gas production in 2015.

The updated Independent Reserves and Resource statement comprising of production data for the past 3 years, as well as data for Cambay-77H and Cambay-73 is scheduled for completion April 2015.

Engineering studies to examine the cost and schedule parameters of a range of throughput sizes as part of the development planning for the field and to determine temporary production facilities for Cambay-77H are currently underway.

The JV also welcomed Jayant R. Sethi who assumed the role of head of India assets in charge of daily operations. A trained geologist, Sethi brings technical and operational leadership experience to the position.

“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,” commented Miller.

Design engineering work for gas production facilities required for the group’s Bhandut-3 field is now at 40% completion.

ASX Announcement
16 March 2015
ASX: OEX

AIM: OEX

INVESTOR PRESENTATION - MARCH 2015

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

http://www.rns-pdf.londonstockexchange.com/rns/5402H_1-2015-3-16.pdf


For and on behalf of Oilex Ltd

Chris Bath

Chief Financial Officer and Company Secretary

http://www.investegate.co.uk/article.aspx?id=201503161231275402H

19 March 2015
ASX: OEX
AIM: OEX

Appointment of UK Broker

Oilex Ltd is pleased to announce the appointment of Westhouse Securities Limited as its UK Broker with immediate effect.

Westhouse is a corporate and institutional stockbroking group with a strong track record across a number of market sectors.

Managing Director of Oilex, Ron Miller, said;

"Oilex is very pleased with the appointment of Westhouse Securities as the Company's UK Broker at an important stage in the Company's development, with a focus on near term production and cash flow from the Cambay Field in India, a quality Indian asset in a premium market."

For and on behalf of Oilex Ltd

Ron Miller
Managing Director

http://www.moneyam.com/action/news/showArticle?id=4998392

ASX Announcement
20 March 2015
ASX: OEX

AIM: OEX

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:

https://www.oilex.com.au/investor-information/announcements/announcements-detail/2015/03/20/interview-with-oilex-managing-director---march-2015-update

For and on behalf of Oilex Ltd



Chris Bath

Chief Financial Officer and Company Secretary

26 March 2015
ASX: OEX
AIM: OEX


Cambay-73 - construction of oil and gas production facilities



Oilex Ltd is pleased to provide an update on construction of the oil and gas production facilities at Cambay-73.

Overall progress of the project is 77% complete. The electrical system installation is almost complete while mechanical fabrication is 82% complete. Various pre-commissioning activities should commence next week and costs are forecast to be within budget despite some delays in equipment delivery. Connection of the low pressure gas pipeline system to the plant is the responsibility of the gas buyer and is expected to be completed during April 2015.

Cambay-73 is a frac'd vertical well located 1.2km SSE of Cambay-77H, the first multistage frac'd horizontal well to be successfully production tested in the Cambay Basin. Cambay-73 and Cambay-77H have intersected the same Y zone reservoir and both have produced gas and light oil/condensate. Gas composition analyses conclude that gas from Cambay-77H and Cambay-73 is almost identical with minimal processing required to reach pipeline specification. Cambay-73 will supply gas to a low pressure gas market in the vicinity of the Cambay Field and is expected to produce approximately 50-60boepd of gas and condensate. The condensate will be separated at the field and trucked to a nearby refinery together with other Cambay crude oil.

Managing Director of Oilex, Ron Miller, said;

"Oilex is very pleased with construction progress at Cambay-73 which should enable the Joint Venture to commence production during May 2015. This will be the first gas produced and sold from the Y zone formation within the Cambay Contract Area and it will be the first gas sold from the Cambay Field in over 23 years. Commercial production from Cambay-73 is a key initial step to achieving the Company's objective of becoming cash flow positive from operations in India in H2 2015."

http://www.rns-pdf.londonstockexchange.com/rns/5011I_-2015-3-26.pdf

http://www.moneyam.com/action/news/showArticle?id=5003049

UPDATE - Oilex looks ahead to first gas production in May
By Jamie Ashcroft
March 26 2015, 12:01pm



--adds broker comment, updates share price--

Oilex (LON:OEX) expects to begin production from the Cambay-73 well in May.

The company told investors that the construction of the production facilities is now about 77% complete.

It expects pre-commissioning activities to begin next week, and connection of a gas pipeline system to the plant – which is the responsibility of the gas buyer – is anticipated during April.

Ron Millar, Oilex managing director, highlights that this will be the first gas sold from the Cambay field in over 23 years.

"Oilex is very pleased with construction progress at Cambay-73 which should enable the joint venture to commence production during May 2015,” Millar said.

“Commercial production from Cambay-73 is a key initial step to achieving the company's objective of becoming cash flow positive from operations in India in H2 2015."

Broker SP Angel said today's update is a timely reminder of how far the company has come and the issues that it has faced getting here.

Cambay-73 will supply gas to a local gas market, under low pressure, and it is expected to produce at a rate of 50 to 60 barrels oil equivalent per day (including condensate, which will be separated and trucked to a nearby refinery).

The company is also working towards production from the recently drilled Cambay-77H well.

Shares in Oilex were up 15% halfway through Thursday's trading session, priced at 2.7p.

One Year Chart

Three Month Chart

Oilex Reveals Interest in Canning Basin Acreage
Lauren Barrett
Wednesday, 1 April 2015 - 07:28pm

While Perth-based Oilex is charging ahead with its unconventional gas project in India, the company says the farm-out process for its acreage in the Canning Basin has been well received.

The company, which is listed on the ASX and London’s AIM, pleased Australian investors last week when it announced it expected production at its Indian Cambay-73 joint venture project to begin in May.

The junior’s shares gained more than 10 per cent to 5 cents on the back of the news which highlighted commercial production from Cambay-73 was a key initial step to achieving its objective of becoming cash flow positive from the operations in the second half of 2015.

While the company remains focused on growing its production and reserves from its Indian operations, Oilex managing director Ron Miller told Oil and Gas Investor Australia that a farm-out process for its three south-west Canning Basin permits was gaining significant traction.

“We have organisations from the US and elsewhere that have been through the data room and are currently in the data room,” he said.

“We think the permits are well positioned because the only existing gas infrastructure the Canning Basin has runs across our permits.

“It is close to the Pilbara iron ore province and as you’ve seen with Fortescue Metals Group and others they are looking to lower their costs of production by changing their energy mix from diesel exclusively to diesel plus gas so we see gas as an opportunity if we happen to make a discovery there.”

The company picked up the three Canning Basin permits in 2013 after management recognised the similarities with its Cambay Basin acreage and noted the south west area had high quality infrastructure.

An extensive review on the permits also identified the Wallal Graben, a potentially overlooked, deep, undrilled half graben in the south-west Canning Basin.

It’s still early days for the permits with native title negotiations continuing. However Miller is hopeful of finalising those in the near-term. While he couldn’t put a timeframe on how long the farm-out process would take, Miller expects drilling on the permits to take place sometime in 2017.

The excitement surrounding the Canning Basin’s shale gas appeal took a hit last year when U.S. major ConocoPhillips and Chinese oil giant PetroChina pulled out of their shale-play joint venture with New Standard Energy, citing disappointing results.

Meanwhile, one time market darling Buru Energy which is the largest shareholder in the Basin has struggled to retain shareholder confidence in its Canning Basin story, with shares falling from highs of above $3 in 2012 to today’s price of 30.5 cents.

While the company confirmed the potential of the Ungani oil field back in 2011 when it announced the first significant oil discovery in the basin since the 1980s, the company continues to grapple with technical hurdles in the Basin while opposition from activists opposed to fracking persists.

Miller said Oilex was closely monitoring general activities in the Canning Basin but was confident it wouldn’t experience the same issues.

“We monitor all activities that are going on in areas of interest that we have and certainly we think we can manage our operations in a safe and sustainable manner,” he said.

General interest in that Sundeep Bhandari, Vice Chairman & Director, Oilex Ltd is part of the speaker panel at Arabian Sea Region Oil & Gas 2015 Summit 26th-27th May in Muscat, Oman.

http://www.prweb.com/releases/2015/04/prweb12639292.htm

http://www.arabianseasummit.com/