rns7 Jan 2009 16:23
"Following the Company's announcement of December 31, 2008,
Oilexco Incorporated (TSX:OIL) (LSE:OIL) ("Oilexco") announced today that its wholly-owned subsidiary Oilexco
North Sea Limited was subject to an order from the court appointing four administrators from Ernst and Young to
take over the function of the Board of Directors.