8 Apr 2022 09:38
ASX-RNS Announcement
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8 April 2022
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ASX: OEX / AIM: OEX
Cambay India Production and C-77H Re-frac Update
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Oilex Limited (Oilex or the Company) is pleased to provide the following update to its operations in India and in particular, with respect to the Cambay field.
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Subsequent to the receipt of the Consent to Operate from the Gujarat Pollution Control Board, production has re-commenced on the Cambay field together with gas sales.
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Oilex's Chief Executive Officer, Roland Wessel, said:
"The re-establishment of production from the Cambay gasfield has occurred soon after the Indian government announced that the price of domestic gas would more than double from $2.9 per mmbtu to $6.1 per mmbtu. This will provide a material benefit to Oilex's cash flow."
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For and on behalf of Oilex Ltd
Roland Wessel
Managing Director
For further information, please contact:
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Investor Enquiries Oilex Ltd Roland Wessel Managing Director Email: oilex@oilex.com.au Tel: +61 8 9485 3200 Australia | AIM Broker Novum Securities Broker Colin Rowbury Email: crowbury@novumsecurities.com Tel: +44 20 7399 9427 UK | AIM Nominated Adviser Strand Hanson Limited Nominated Adviser Rory Murphy/Ritchie Balmer Email: oilex@strandhanson.co.uk Tel: +44 20 7409 3494 UK | Media Enquiries (UK) Vigo Communications Public Relations Patrick d'Ancona/Finlay Thomson Email: patrick.dancona@vigocomms.com finlay.thomson@vigocomms.com Tel:+ 44 20 7390 0230 UK |
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