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 USD2.9 per million British thermal units to USD6.1 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%
By Elizabeth Winter; elizabethwinter@alliancenews.com
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