26 Mar 2012 07:00
26 March 2012
Cambay-76H Well operations updaTE
Further to the announcement of 5 March 2012, Oilex Ltd ("Oilex" ASX: OEX, AIM: OEX) provides the following update on operations at the Cambay-76H horizontal well in the Cambay Field, onshore Gujarat, India.
Following the procurement and installation of equipment capable of managing the high reservoir pressure, the milling and clean out of fracture stimulation stages 8, 7, 6 and 5 have been successfully completed. This means that four of the eight fracture stimulation stages have now been fully opened and one partially opened.
Once milling of the remaining four stages has been completed, production tubing will be installed. The well will then be flowed to surface for clean-up and production testing.
The participating interests in the Cambay PSC are:
| Joint Venture Party | Participating Interest |
Oilex Ltd (Operator) | 30% |
Oilex NL Holdings (India) Limited | 15% |
Gujarat State Petroleum Corporation Ltd | 55% |
For further information, please contact:
Oilex Ltd | +61 (0)8 9485 3200 | (Western Australia) |
Bruce McCarthy Managing Director oilex@oilex.com.au | ||
Ben Clube Finance Director oilex@oilex.com.au | ||
Ambrian Partners Limited (Nominated Adviser and AIM Broker) | ||
Samantha Harrison samantha.harrison@ambrian.com | +44 (0) 20 7634 4712 | (UK) |
Read Corporate | ||
Nicholas Read nicholas@readcorporate.com.au | +61 (0)8 9388 1474 | (Western Australia) |
Tavistock Communications | +44 (0)207 920 3150 | (UK) |
Ed Portman eportman@tavistock.co.uk | +44 (0)7733 363 501 | (UK) |
Paul Youens pyouens@tavistock.co.uk | +44 (0)7843 260 623 | (UK) |
This document may include forward-looking statements. Forward-looking statements include, but are not necessarily limited to, statements concerning Oilex Ltd's planned exploration program and other statements that are not historic facts. When used in this document, the words such as "could", "plan", "estimate" "expect", "intend", "may", "potential", "should" and similar expressions are forward-looking statements. Although Oilex Ltd believes that its expectations reflected in these statements are reasonable, such statements involve risks and uncertainties, and no assurance can be given that actual results will be consistent with these forward-looking statements