A former Aberdeen oil and gas executive has been appointed head of finance for Australian firm Oilex.
Oilex has said it will continue to “review business opportunities” in high potential areas despite taking a financial hit due to the Covid-19 pandemic.
Australian firm Oilex has extended its exclusivity agreement with Koru Energy for the purchase of East Irish Sea assets until the end of October.
Australian firm Oilex has entered into an exclusivity agreement with Koru Energy to buy up to a 50% of the Knox and Lowry, and Whitbeck gas discoveries in the East Irish Sea.
Oilex is headed back to the drawing board after disappointing returns from its latest workover programme.
Oilex reported a $3.2million loss for the first half of final half of the year.
Oilex has made a bid to own 100% of the Cambay prospect in India.
Oilex has reaffirmed its commitment to unlocking in-place tight gas potential in its onshore Cambay block, in India.
Oilex said it has appointed a new chief financial officer to its team.
Oilex has reached an agreement to end legal proceedings with shareholder Zeta Resources, meaning neither company will pursue claims made against one another.
Oilex has appointed a new managing director to lead the company.
Oilex has so far failed to reach a resolution with with Zeta Resources relating to a joint venture in India.
Oilex today confirmed the appointment of Brad Lingo as an independent non-executive director of the firm.
Oilex said production from its Cambay-77H well in India has been boosted by an additional 51 barrels since start-up 10 days ago. The company said the most recent estimate shows initial production has now reached 715 barrels of oil equivalent. Earlier this month Oilex said it would continue its workover of its Cambay field in India.
Oilex has filed its defence in Australia's Federal Court proceedings initiated by Zeta Resources.
Oilex is continuing its workover of its Cambay field in India.
Oilex Ltd has named Jonathan Salomon as a non-executive director of the company with immediate effect.
Australian explorer Oilex has completed its latest workover of the Cambay-20 well in India according to plan.
Australian explorer Oilex has completed the first well in its workover programme at the Cambay field in India and has begun work on the second well in the programme.
Australian independent Oilex has commenced a work-over campaign at its Cambay project in India.
Oilex has asked its shareholders to vote in support of a capital funding program for work on the Cambay and Bhandut fields and the Canning basin. The company is looking to build on a “growth opportunity” which it says is underpinned by a recent independent reserve classification of gas and light field oil in the region. Managing director Ron Miller has written to shareholders asking for support to make the new investments.
Oilex has reported better than anticipated results from its recently on-stream Cambay-73 field in India.
Oilex said it has received endorsement from the relevant authorities of the Government of India for the sale of gas from the Cambay-77H well. It follows the approval last year to sell gas from Cambay-73 and Bhandut-3. The appropriate production facilities for Cambay-77H will now be established and will initially connect the well to a low pressure pipeline grid to service the area.
Oilex has been granted an exploration permit in Western Australia. The WA Department of Mines and Petroleum (DMP) approved the firm's application to convert its Special Prospecting Authority (SPA 17 AO) application to an exploration permit.
Oilex has been endorsed by the Indian government for the sales from the Bhandut-3 well in the Bhundut field. The company said the backing was a "critical milestone" for the field's production. The project will now gather the appropriate production facilities including a compressed natural gas (CNG) loading facility that will enable "bullet" trucks to be loaded for transportation on site.