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Oilex Ltd - Perth-based developer of natural gas assets - Recommences production and gas sales at Cambay field, following receipt of consent to operate from the Gujurat Pollution Control Board.
‘The re-establishment of production from the Cambay gasfield has occurred soon after the Indian government announced that the price of domestic gas would more than double from $2.9 per million British thermal units to $6.1 per mmbtu. This will provide a material benefit to Oilex's cash flow,’ says Chief Executive Officer Roland Wessel.
Current stock price: 0.30 pence, down 1.7% on Friday
12-month change: down 18%
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