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  5. Cambay PSC Update

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Cambay PSC Update

26 Nov 2019 08:53

RNS Number : 6720U
Oilex Ltd
26 November 2019
 

ASX-RNS Announcement

 

26 November 2019

 

 

ASX: OEX

AIM: OEX

 

Cambay PSC Update

 

Oilex Ltd (Oilex or the Company) is pleased to announce that the Singapore International Arbitration Commission (SIAC) has refunded S$179,731 (ÂŁ102,500) in arbitration fees paid by Oilex. Furthermore, the Company also confirms the receipt of INR10,782,244 (ÂŁ117,000) in cash call payments from Gujarat State Petroleum Corporation (GSPC).

 

On 24 September 2019, the Company announced that the arbitration tribunal of the SIAC had issued an order terminating proceedings instituted by GSPC. Accordingly, the SIAC has now substantially refunded the arbitration fees previously submitted by Oilex.

 

The cash call payments received by Oilex from GSPC relate to the Cambay PSC and Bhandut PSC work programme and budgets after the issue of the Event of Default in May 2018.

 

 For and on behalf of Oilex Ltd

 

 

 

 

Mark Bolton

Chief Financial Officer and Company Secretary

 

 

For further information, please contact:

 

Investor Enquires

Oilex Ltd

Joe Salomon

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 Enquires (UK)

Vigo Communications

Public Relations

Patrick d'Ancona/Chris McMahon

Email: patrick.dancona@vigocomms.com

chris.mcmahon@vigocomms.com

Tel:+ 44 20 7390 0230 UK

Media Enquiries (Aus)

Citadel-MAGNUS

Michael Weir

Email: mweir@citadelmagnus.com

Tel: +618 6160 4900

Australia

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
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Date   Source Headline
26th Nov 20097:00 amPRNTimor Sea Drilling Update - Lore-1 Well
23rd Nov 20097:00 amPRNSection 708 Notice
20th Nov 20099:47 amPRNOILEX SPUDS FIRST TIMOR SEA WELL
20th Nov 20097:00 amPRNSection 708 Notice
20th Nov 20097:00 amPRNNotice of Change of Interests of Substantial Holder
19th Nov 20098:34 amPRNAppendix 3B
16th Nov 20097:00 amPRNResults of General Meeting - 16 November 2009
11th Nov 20097:00 amPRNOilex Mobilises Rig for Timor Sea Drilling
4th Nov 20097:14 amPRNExpiration of Unlisted Options
2nd Nov 20097:00 amPRNSection 708 Notice
29th Oct 20097:00 amPRNShare Placement - Allotment of Further Tranche 1 Shares
27th Oct 20097:00 amPRNAppendix 3B
26th Oct 20099:26 amPRNQuarterly Report to Shareholders 30 September 09
23rd Oct 20097:48 amPRNAnnual Report 30 June 2009
23rd Oct 20097:39 amPRNNotice of Annual General Meeting 26 November 2009
16th Oct 20097:47 amPRNNotice of General Meeting 16 November 2009
16th Oct 20097:00 amPRNOilex Operations Update October 2009
16th Oct 20097:00 amPRNOilex Raises $10 Million to Fund Exploration
14th Oct 20097:58 amPRNOilex Ltd Trading Halt
25th Sep 20097:00 amPRNOilex Secures Drilling Rig for Two Wells in Timor Sea
22nd Sep 20097:00 amPRNOilex Annual Report 2009
21st Sep 200910:42 amPRNOilex 2009 Annual Report
1st Sep 20097:00 amPRNAppendix 3B
1st Sep 20097:00 amPRNOilex Presentation - RIU Good Oil Conference 1 Sept 09
28th Aug 20097:00 amPRNOilex Timor Sea Farmout Goes Unconditional
18th Aug 20099:52 amPRNAppendix 3B
10th Aug 20097:00 amPRNKey Condition of Timor Sea Farm Out Satisfied
3rd Aug 20097:01 amPRNOILEX SECURES FARM-OUT OF KEY TIMOR SEA BLOCK
23rd Jul 200910:29 amPRNAppendix 5B
22nd Jul 20099:40 amPRNOperations Report for the Quarter to 30 June 2009
1st Jul 20099:31 amPRNAppendix 3X - 2 and AIM Attachment
1st Jul 20097:00 amPRNOilex Announces New Board Appointments
5th Jun 20097:04 amPRNTermination of Rig Contract for JPDA Wells - Timor Sea
3rd Jun 20099:36 amPRNAppendix 3B
26th May 20097:00 amPRNWest Kampar PSC - Indonesian Press Articles
19th May 20097:00 amPRNBoardroom Radio Broadcast - JPDA, India and Indonesia
8th May 20097:00 amPRNAppendix 3Y
8th May 20097:00 amPRNInvestment Report - Hartleys
7th May 20097:00 amPRNCambay-75 Operations Report - Gujarat India
5th May 20097:00 amPRNCambay-75 Operations Report - Gujarat, India
1st May 20097:00 amPRNOilex Company Secretary
30th Apr 20099:48 amPRNQuarterly Report to Shareholders 31 March 2009
17th Apr 20097:00 amPRNCambay 75 Operations Report - Gujarat India
9th Apr 20097:00 amPRNOperations Update Cambay - Cambay-75 Drilling Update
8th Apr 20097:00 amPRNBoardroomRadio Large Volume Prospects Timor Sea
7th Apr 20097:00 amPRNLarge Volume Prospects in Timor Sea Confirmed
26th Mar 20097:44 amPRNAppendix 3Y
20th Mar 20097:30 amPRNExploration Permit EPP27 Offshore South Australia
11th Mar 20097:00 amPRNAl Jumd Test Result - Block 56 Oman
25th Feb 20097:00 amPRNAl Jumd Test Program - Block 56 Oman
16171819202122232425

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