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.
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.
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.”
For and on behalf of Oilex Ltd
Roland Wessel
Managing Director
For further information, please contact:
Investor Enquiries
Oilex Ltd
Roland Wessel
Managing Director
Email: [email protected]
Tel: +61 8 9485 3200
Australia
