OEX.L Share News (OEX)

(ShareCast News) - Oilex was celebrating the start of gas production from its Bhandut Field on Friday, located onshore Gujarat, India.The board of the AIM-traded company said the Bhandut-3 well was currently flowing at the expected stabilised rate of 120 barrels of oil equivalent per day, through an 8/64 inch choke.Gas produced from Bhandut-3 was being initially processed at the on-site facilities and then delivered to a third party operated gas processing plant, where it was further treated to the required pipeline specification.It was then compressed for entry into the high pressure gas network for delivery to an end user.Oilex operates and holds 40% equity in the Bhandut field, with Gujarat State Petroleum Corporation holding the remaining equity interest.