Less Ads, More Data, More Tools Register for FREE

Pin to quick picksOEX.L Share News (OEX)

  • There is currently no data for OEX

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Oilex Says Cambay Production Falls In Fourth Quarter

Fri, 29th Jan 2016 10:38

LONDON (Alliance News) - Oilex Ltd on Friday said the Cambay Field delivered net oil and gas production of 324 barrels and 5.5 million standard cubic feet of gas for the three months to the end of December.

That was a decrease of 115 barrels on the previous quarter, reflecting "lower offtake from small variations in the buyer consumption" over the quarter.

The company declared the workover on Cambay-77H complete. Production from Cambay-77H has gradually increased from 51 barrels of oil equivalent per day to average 70 barrels of oil equivalent per day by end of December 2015.

Cambay-19z is now producing oil and associated gas from the Eocene Formation and is performing to expectations, the company said, while the Cambay-20 workover successfully completed and the workover rig demobilised.

With regards to the Bhandut Field, onshore Gujarat, India, construction of the gas production facility is complete and ready for start-up, Oilex said.

"The gas buyer is responsible for construction of a pipeline to deliver the gas for further processing and had undertaken to have the pipeline completed no later than 31 December 2015. The buyer has now estimated the pipeline will be complete by the end of January 2016. The company anticipates that Bhandut-3 commercial production may commence around mid-February," Oilex said.

Shares in Oilex were up 6.0% at 0.530 pence on Friday morning.

By Samuel Agini; samagini@alliancenews.com; @samuelagini

Copyright 2016 Alliance News Limited. All Rights Reserved.

More News
4 Apr 2022 12:34

UPDATE: Oilex shares bounce back after GPCB revokes production halt

(Alliance News) - Oilex Ltd shares bounced back on Monday after the company said that the Gujarat Pollution Control Board has authorised the use of the early gas facility and revoked the production halt at the Cambay field.

Read more
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.

Read more
4 Apr 2022 11:06

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.

Read more
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.

Read more
11 Mar 2022 12:32

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.

Read more
4 Mar 2022 20:53

TRADING UPDATES: IOG to cut Gazprom ties; wholesale changes at Donegal

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and Tuesday and not separately reported by Alliance News:

Read more
10 Feb 2022 16:07

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

Read more
7 Feb 2022 18:29

TRADING UPDATES: Alphawave teams with Intel; Cadence's Amapa progress

TRADING UPDATES: Alphawave teams with Intel; Cadence's Amapa progress

Read more
7 Feb 2022 10:52

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

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

Read more
15 Dec 2021 10:49

AIM WINNERS & LOSERS: Oilex in Cambay resumption; Midwich profit up

AIM WINNERS & LOSERS: Oilex in Cambay resumption; Midwich profit up

Read more
30 Nov 2021 12:18

Oilex flags liquidity-related delays to shareholder parcel facility

(Sharecast News) - Oilex updated the market on its unmarketable parcel facility on Tuesday, which it had set up for shareholders on 7 September.

Read more
19 Nov 2021 16:06

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

Read more
29 Oct 2021 19:11

TRADING UPDATES: Norish in wholesale changes; Oilex wins deal

TRADING UPDATES: Norish in wholesale changes; Oilex wins deal

Read more
29 Oct 2021 11:27

AIM WINNERS & LOSERS: SysGroup sinks after profit warning

AIM WINNERS & LOSERS: SysGroup sinks after profit warning

Read more
22 Sep 2021 21:43

IN BRIEF: Oilex loss narrows but eyes raising for Cambay progress

IN BRIEF: Oilex loss narrows but eyes raising for Cambay progress

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.