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Oilex Delays Australia Acquisition Completion To Mid-October

Wed, 18th Sep 2019 15:27

(Alliance News) - Oilex Ltd on Wednesday agreed to delay the completion date for two acquisitions in South Australia in the Cooper-Eromanga basin.

The acquisitions of the PEL 112 and PEL 444 licences had been penned to complete at the end of September, but Oilex has now moved that back to October 14.

"The amendment is at the company's request in order to effectively manage the various acquisitions in Australia and the UK currently being undertaken by the company," said Oilex.

Oilex already owns 48% of the licences, having bought that stake off Holloman Energy Corp early August for AUD145,500. It then bought a 31% stake later that month from Perseville Investing Inc and Terra Nova Energy Australia Pty Ltd for AUD92,499, and it also has an option to buy the rest of the licences.

Other acquisitions currently being carried out by Oilex include a 50% interest in some Irish Sea gas discoveries, announced earlier this week.

Shares were 4.2% lower on Wednesday at a price of 0.17 pence each.

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UPDATE: Oilex shares bounce back after GPCB revokes production halt

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4 Apr 2022 12:04

Oilex working to resolve local authority dispute at Cambay

(Sharecast News) - Oilex updated the market on its operations in India on Monday, after local authorities put the kibosh on the restart of operations at the Cambay field.

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Oilex falls as pollution control board query prevents Cambay restart

(Alliance News) - Oilex Ltd shares fell on Monday after the firm said that a licensing issue is preventing the restart of production at its Cambay field in India.

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16 Mar 2022 14:30

IN BRIEF: Oilex says two wells ready to restart at Cambay field

Oilex Ltd - Perth-based developer of natural gas assets - Expects to complete acquisition transaction of Cambay Field PSC at the end of March, and expects approval from the Gujurat Pollution Control Board to come imminently, which will greenlight the recommencement of production at the site. Two wells, C-73 and C-77H, are ready to re-commence as soon as approval is received, having passed the necessary safety checks.

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Oilex shares fall as it posts swing to interim loss on increased costs

(Alliance News) - Shares in Oilex Ltd fell on Friday after the company swung to an interim loss on increased exploration and administrative expenses.

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IN BRIEF: Oilex gains 100% interest in Cambay Field in India

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