Appointment of UK Based Non-Executive Director

ASX-RNS Announcement

4 September 2019

ASX: OEX

AIM: OEX

The Board of Oilex Ltd (the Company) is very pleased to announce the appointment of Peter Schwarz as an Independent Non-Executive Director effective immediately.

A former director of BG Exploration and Production Limited and CEO of independent exploration company Virgo Energy Ltd, Peter is a certified petroleum geologist and business development professional with over 35 years' experience in the oil and gas industry. Peter has previously held various senior management roles with Amerada Hess, BG, and Marubeni and is currently a director of Finite Energy Limited, an oil and gas consultancy business he founded over 10 years ago, specializing in strategy and business development advice in the UK and Europe. Mr Schwarz holds a B.Sc. in Geology and a M.Sc. in Petroleum Geology from the University of London.

Chairman of Oilex, Brad Lingo, said;

"We are delighted with Peter's appointment to the board of Oilex. In addition to expanding the number of independent directors, Peter's appointment bolsters the technical depth and business development capability of the board as the Company continues its strategy to expand the projects in its portfolio."

Additional Information on Mr Peter Schwarz 

The following additional information is provided in accordance with paragraph (g) of Schedule Two to the AIM Rules for Companies:

Mr Peter Heinz Schwarz (aged 68)

Current Directorships or Partnerships Held Directorships or Partnerships held within 5 Years

Finite Energy Limited None

Samphire Padstow Freehold Limited

Samphire Padstow Management Limited

Zenius Media & Communications Limited

Kingsmead Foley Road Residents Association (Claygate) Limited

Mr Schwarz does not currently hold any shares, or an interest over any shares, in the Company.

Mr Schwarz was a director of Zenius (Croydon) Limited, a UK incorporated company which entered into insolvency on 1 June 2009, with a finally determined shortfall to creditors of £11,000. Mr Schwarz ceased to be a director of the company on 14 August 2009. There were no proceedings carried out, or criticisms made against, the directors of the company by the officers supervising the insolvency.

There is no other information that is required to be disclosed pursuant to paragraph (g) of Schedule Two to the AIM Rules for Companies.

For and on behalf of Oilex Ltd

Bradley Lingo

Non-Executive Chairman

For further information, please contact: