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Appendix 3X

10th Nov 2011 07:00

Rule 3.19A.1Appendix 3X

Initial Director's Interest Notice

Information or documents not available now must be given to ASX as soon asavailable. Information and documents given to ASX become ASX's property and maybe made public.Introduced 30/9/2001.Name of entity Oilex Ltd ABN 50 078 652 632 We (the entity) give ASX the following information under listing rule 3.19A.3and as agent for the director for the purposes of section 205G of theCorporations Act.Name of director Sundeep Bhandari Date of appointment 9 November 2011

Part 1 - Director's relevant interests in securities of which the director is the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) ofthe definition of "notifiable interest of a director" should be disclosed inthis part.N/A

Part 2 - Director's relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Name of holder & nature of interest Number & class of

securities

Note: Provide details of the circumstances giving rise to the relevant interest 7,600,000 Fully paid ordinary shares India Hydrocarbons Ltd 2,000,000 $0.30 options expiry 10/11/2012 2,000,000 $0.37 options expiry 10/11/2014

Part 3 - Director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) ofthe definition of "notifiable interest of a director" should be disclosed inthis part.Detail of contract Nature of interest Name of registered holder (if issued securities)

No. and class of securities to which

interest relates 10/11/2011

XLON

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