Check out the latest articles in our Investment Trusts portal

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksOilex Regulatory News (OEX)

Share Price Information for Oilex (OEX)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.16
Bid: 0.15
Ask: 0.17
Change: -0.005 (-3.03%)
Spread: 0.02 (13.33%)
Open: 0.165
High: 0.165
Low: 0.155
Yest. Close: 0.165
OEX Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

RNS Alerts are a premium feature

Login to your account

myTerminal is a premium feature

Login to your account

Don't have an account? Click here to register.

Oilex Ltd - Update on Cooper Basin and Cambay

Wed, 18th Sep 2019 07:48

RNS Number : 7669M
Oilex Ltd
18 September 2019

ASX-RNS Announcement



18 September 2019





Update on Cooper Basin and Cambay



Oilex Ltd ("Oilex" or "the Company") is pleased to announce that it has entered into variation agreements with Holloman Energy Corporation ("HEC"), Perseville Investing Inc and Terra Nova Energy (Australia) Pty Ltd to amend the end date for settlement to 14 October 2019.


On 7 August 2019 and 14 August 2019, the Company announced that it had entered into agreements to acquire up to 100% interest in the PEL 112 and 444 licences in the Cooper-Eromanga Basins in South Australia.  Final completion under the agreements was to occur on or before 30 September 2019.  The Company announces today that it has agreed to vary the end date for settlement to occur to 14 October 2019.


The amendment is at the Company's request in order to effectively manage the various acquisitions in Australia and the U.K. currently being undertaken by the Company.


Cambay Settlement Clarification


On 9 September 2019, the Company announced that it had reached an agreement with Gujarat State Petroleum Corporation (GSPC) which, upon completion, will resolve the ongoing Cambay PSC dispute (Agreement).  Pursuant to the Agreement, the Event of Default (EoD) declared by Oilex pursuant to the Cambay Field Joint Operating Agreement (JOA) was withdrawn.  The EoD was issued by Oilex in respect to US$3 million, in aggregate, of unpaid cash calls. 


The Company advises that it has not waived the unpaid cash calls under the Agreement and accordingly, the Company maintains its rights under the JOA.  The Company reaffirms its support to the implementation of the Agreement where GSPC will seek to dispose of its 55% participating interest in Cambay and while continuing to engage with all parties, including potential new Cambay joint venture partners, for payment of the outstanding cash calls.



For and on behalf of Oilex Ltd





Joe Salomon

Managing Director


For further information, please contact:


Investor Enquires

Oilex Ltd

Joe Salomon

Managing Director


Tel: +61 8 9485 3200


AIM Broker

Novum Securities


Colin Rowbury


Tel: +44 20 7399 9427


AIM Nominated Adviser

Strand Hanson Limited

Nominated Adviser

Rory Murphy/Ritchie Balmer   


Tel: +44 20 7409 3494


Media Enquires (UK)

Vigo Communications

Public Relations

Patrick d'Ancona/Chris McMahon


Tel:+ 44 20 7390 0230


Media Enquiries (Aus)


Michael Weir


Tel: +618 6160 4900



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 or visit
Date   Source Headline
1st Oct 20197:00 amRNSAmendment to Loan Funding Agreement
1st Oct 20197:00 amRNSAppendix 4G
30th Sep 20198:45 amRNSEquity Raise of GBP0.6m
30th Sep 20197:00 amRNSExecutive Contract Extensions
27th Sep 20192:16 pmRNSCommencement of Cambay Sale Process

Login to your account

Don't have an account? Click here to register.