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 Workover Of Cambay-20 Well Completed On Schedule, Under Budget

Tue, 17th Nov 2015 14:03

LONDON (Alliance News) - Oilex Ltd said Tuesday that the workover of the Cambay-20 well in India was completed on schedule and under budget.

Installation of a hydraulic lift pump unit and downhole pump has begun at Cambay-20 to optimise production from the well, Oilex said.

A workover campaign at Cambay-77H has begun, the company said, and a workover of Cambay-60 will begin after the completion of Cambay-77H. Other candidates for possible workover, which Oilex will decide on after Cambay-60, include Cambay-70, which is located adjacent to Cambay-77H, and Cambay-15, a former gas producer that may still be capable of servicing the low-pressure market.

"The Cambay workover campaign continues with the successful completion of activities at Cambay-20 on schedule and under budget," said Managing Director Ron Miller. "Gas at surface, sufficient to run the Hydraulic Lift Pump unit, is a positive sign and a significant cost reduction compared to purchasing liquefied petroleum gas. These workovers deliver low cost increases to our gas sales and cash flow and the performance of the Operations team to deliver them on schedule and under budget is very pleasing."

Shares in Oilex were down 8.3% at 0.550 pence Tuesday afternoon.

Last week, Oilex said trading had been suspended in its Australian-listed shares whilst it evaluates documents it has received from Zeta Resources Ltd containing information about allegations made against the company in the Federal Court of Australia. Oilex said Zeta had accused the company of failing to "disclose material information" prior to Zeta investing in the company in July.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

Copyright 2015 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.