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Oilex

Markets

Oilex takes a loss

Oilex reported a $3.2million loss for the first half of final half of the year.

Oil & Gas

Oilex boosts production from Cambay field

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.

Oil & Gas

Oilex urges shareholder support for tranche of investment plans

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.

Oil & Gas

Oilex receives endorsement for sale of gas from Cambay-77H well

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.

Oil & Gas

Government endorsement for Oilex

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.