Oilex announce Quarterly Report to 30 September 2014

Oilex announce Quarterly Report to 30 September 2014

Summary
CAMBAY PSC (45% & OPERATOR), ONSHORE GUJARAT, INDIA
Quarterly Cover
Fracture stimulation completed
All isolation plugs successfully milled out
Gas and light oil flows to surface during flow-back and light oil recovered for sale
Higher than expected proportion of light oil particularly encouraging
Gas Sales Agreement for Cambay-73 endorsed by Government of India
SPA 17 AO (100% & OPERATOR), ONSHORE CANNING BASIN, WESTERN AUSTRALIA
Final interpretation of 4,060 line km gravity gradiometry/magnetic survey received
Confirmation of the Wallal Graben extension into adjacent Oilex acreage SPA 17 AO
Application for formal exploration permit commenced on an exclusive basis
CORPORATE
Raised £1.17 million (AUD2.13 million) before costs via drawdown on the Equity Financing Facility with Darwin Strategic Limited
Raised $1.08 million through conversion of listed options to fully paid shares
Source: Oilex
Oil and Gas Press

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