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Oilex Ltd (OEX)

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Wednesday 15 December, 2021

Oilex Ltd

Cambay Production Re-start Update

RNS Number : 7294V
Oilex Ltd
15 December 2021
 

ASX-RNS Announcement

 

 

15 December 2021

 

 

ASX: OEX

AIM: OEX

Cambay Production Re-start Update

 

The Board of Oilex Limited (Oilex the Company) is pleased to announce that following a final court order issued on 13.12.21 and received by the Company on 14.12.21, the previously imposed production cessation on the Cambay field has been removed and the Company plans to resume gas production in the near future. The two currently active wells, C-73 and C-77H will be placed back on cyclic production and the gas will be processed and exported through the existing production facilities and pipelines.

 

Oilex's Chief Executive Officer, Roland Wessel said:

 

"This is an important milestone for the Company. Production has been suspended for the last 3 years and the re-establishment of gas production and associated revenues is the next step in monetising the significant gas resources in the Cambay field."

 

 

For and on behalf of Oilex Ltd

 

 

 

 

Roland Wessel

Managing Director

 

 

For further information, please contact:

 

Investor Enquires

Oilex Ltd

Roland Wessel

Managing Director

Email: [email protected]

Tel: +61 8 9485 3200

Australia

AIM Broker

Novum Securities

B roker

Colin Rowbury

Email: [email protected]

Tel: +44 20 7399 9427

UK

AIM Nominated Adviser

Strand Hanson Limited

Nominated Adviser

Rory Murphy/Ritchie Balmer 

Email: [email protected]

Tel: +44 20 7409 3494

UK

Media Enquires (UK)

Vigo Communications

Public Relations

Patrick d'Ancona/Chris McMahon

Email: [email protected]

[email protected]

Tel:+ 44 20 7390 0230 UK

 

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