OEX.L Regulatory News (OEX)

Name of entity

 OILEX LTD

ABN

50 078 652 632

1.

+Class of +securities issued or to be issued

(a) Ordinary Shares

(b) Options

2.

Number of +securities issued or to be issued (if known) or maximum number which may be issued

(a) 101,329,954 fully paid ordinary shares

(b) 50,664,977 options

3.

Principal terms of the +securities (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

(a) Fully paid ordinary shares

(b) Options with an exercise price of $0.15 expiring on 7 September 2015

4.

Do the +securities rank equally in all respects from the date of allotment with an existing +class of quoted +securities?

If the additional securities do not rank equally, please state:

·; the date from which they do

·; the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

·; the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

(a) Yes. Ordinary shares will rank equally with existing ordinary shares

(b) Options will not rank equally. Shares issued upon exercise of options will rank equally with existing ordinary shares

5.

Issue price or consideration

(a) Ordinary shares $0.07

(b) Options - Nil

6.

Purpose of the issue

(If issued as consideration for the acquisition of assets, clearly identify those assets)

To provide funds to drill an offset well near the Cambay-76H well and conduct a production test to assess the commerciality of the Cambay Y Zone tight reservoirs in the Cambay Contract Area, and for general working capital.

6a

Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?

If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i

No

6b

The date the security holder resolution under rule 7.1A was passed

N/A

6c

Number of +securities issued without security holder approval under rule 7.1

N/A

6d

Number of +securities issued with security holder approval under rule 7.1A

N/A

6e

Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)

N/A

Number of securities issued under an exception in rule 7.2

N/A

If securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the issue date and both values. Include the source of the VWAP calculation.

N/A

6h

If securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements

N/A

6i

Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements

N/A

7.

Dates of entering +securities into uncertificated holdings or despatch of certificates

Allotment date 7 September 2012

Number

+Class

8.

Number and +class of all +securities quoted on ASX (including the securities in clause 2 if applicable)

354,654,839

50,664,977

Ordinary Shares

Options

Number

+Class

9.

Number and +class of all +securities not quoted on ASX (including the securities in clause 2 if applicable)

2,000,000

16,687,500

75,000

4,150,000

8,737,500

75,000

$0.30 Options due 15/09/2012

$0.30 Options due 10/11/2012

$0.50 Options due 01/08/2013

$0.30 Options due 01/07/2014

$0.37 Options due 10/11/2014

$0.63 Options due 01/08/2015

2008 Performance Rights

22,000

Tranche 3 expire 1/07/2013

10.

Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

N/A

11

Is security holder approval required?

No

12

Is the issue renounceable or non-renounceable?

Renounceable

13

Ratio in which the +securities will be offered

2 new shares for every 5 shares held and one attaching option for every 2 new shares subscribed for

14

+Class of +securities to which the offer relates

(a) Ordinary fully paid shares

(b) Options to acquire ordinary fully paid shares

15

+Record date to determine entitlements

5.00pm WST 15 August 2012

16

Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?

N/A

17

Policy for deciding entitlements in relation to fractions

Fractional entitlements will be rounded up to the nearest whole number of shares or options

18

Names of countries in which the entity has +security holders who will not be sent new issue documents

Note: Security holders must be told how their entitlements are to be dealt with.

Cross reference: rule 7.7.

China

Channel Islands

Czech Republic

Spain

Greece

Hong Kong

Switzerland

United Arab Emirates

India

Ireland

Japan

Netherlands

Sultanate of Oman

Papua New Guinea

Portugal

Singapore

Thailand

United States of America

British Virgin Islands

19

Closing date for receipt of acceptances or renunciations

30 August 2012

20

Names of any underwriters

Patersons Securities Limited

21

Amount of any underwriting fee or commission

$425,586 management and underwriting fee plus 101,329,954 options to acquire ordinary shares at an exercise price of $0.07 expiring 7 September 2015

22

Names of any brokers to the issue

Patersons Securities Limited

23

Fee or commission payable to the broker to the issue

$60,000

24

Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of +security holders

N/A

25

If the issue is contingent on +security holders' approval, the date of the meeting

N/A

26

Date entitlement and acceptance form and prospectus or Product Disclosure Statement will be sent to persons entitled

16 August 2012

27

If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders

6 August 2012

28

Date rights trading will begin (if applicable)

9 August 2012

29

Date rights trading will end (if applicable)

23 August 2012

30

How do +security holders sell their entitlements in full through a broker?

Complete back of Entitlement and Acceptance Form and send to broker

31

How do +security holders sell part of their entitlements through a broker and accept for the balance?

Complete back of Entitlement and Acceptance Form and send to broker together with the rights to be accepted

32

How do +security holders dispose of their entitlements (except by sale through a broker)?

Complete a standard renunciation or transfer form (obtainable from broker or share registry) and send together with Entitlement and Acceptance Form

33

+Despatch date

7 September 2012

34

Type of securities

(tick one)

(a)

Securities described in Part 1

(b)

All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities