3rd Feb 2014 10:42
LONDON (Alliance News) - Oilex Ltd Monday said the Cambay-77H site construction in India has been completed on schedule.
The exploration-and-development oil company said that all 149 packages of the LR-4 Rig components have been delivered and unloaded at site.
Oilex, which currently has a 45% operating ownership of the site, said its test production timescale remains unchanged at between February 22 and March 9.
The company said recently that during the last three months of 2013 the Cambay Field produced 798 barrels of oil, with 359 barrels net to Oilex, an increase on its 704 barrels of oil with 317 net to Oilex in the same period 2012.
Oilex shares were down 4.4% to 4.90 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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