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IN BRIEF: Oilex Annual Loss Widens; Encounters Covid-19 Delays

Thu, 01st Oct 2020 14:25

Oilex Ltd - Australian oil and gas explorer - Pretax loss for year to June 30, widens to AUD4.5 million, around GBP2.5 million, from AUD3.1 million loss a year ago. No revenue generated in financial 2020 versus AUD188,220 recorded a year ago. Exploration expenditure jumps to AUD1.0 million from AUD491,675. Records AUD1.3 million exceptional cost versus no such charge in comparative period. Says Covid-19 and oil price collapse led to delays in spin-out of Cooper-Eromanga basin and to Cambay project in India. Continues to review business opportunities in high potential areas.

Current stock price: 0.07 pence

Year-to-date change: down 59%

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Oilex kicks off workover programme on Indian project

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21 Oct 2015 11:10

Oilex Begins Cambay Workover Campaign As Bhandut Field Progresses

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24 Sep 2015 10:15

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28 Jul 2015 10:03

Oilex Urges Shareholders To Vote In Favour Of Large Fundraising (ALLISS)

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21 Jul 2015 09:28

Oilex's Cambay well meets growing Indian demand for gas

(ShareCast News) - Oilex's Cambay-73 well continues to meet the daily demands of its customers in Gujarat State, India, the company told investors in a production update. The well has been 100% operational and yields an average of 54 barrels of oil per day since production began in June. Furthermor

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21 Jul 2015 08:54

Oilex Sees Increase In Demand For Gas From Cambay Field In India

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Oilex Fails To Secure Waiver For Share Issuance To Zeta Resources (ALLISS)

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