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Appendix 3Y

6th Jan 2010 08:31

Rule 3.19A.2 Appendix 3Y Change of 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.2and as agent for the director for the purposes of section 205G of theCorporations Act.Name of Director Max Dirk Jan Cozijn Date of last notice 08/05/2009

Part 1 - Change of director's relevant interests in securities

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.Direct or indirect interest A. Indirect B. Direct Nature of indirect interest A. Diplomat Holdings Pty Ltd

(including registered holder) B. Max Dirk Jan Cozijn Note: Provide details of the circumstances giving rise to the relevant interest. Date of change 31/12/2009 No. of securities held prior (A) 1,500,000 Ordinary Shares

to change (B) 500,000 $1.50 Options expiry 31/12/2009 (A) 250,000 $2.00 Options expiry 01/07/2011 (A) 250,000 $2.50 Options expiry 01/07/2011 Class Unlisted Options Number acquired Nil Number disposed (B) 500,000 $1.50 Options expiry 31/12/2009 Value/Consideration Nil Note: If consideration is

non-cash, provide details and estimated valuation No. of securities held after (A) 1,500,000 Ordinary Shares

change (A) 250,000 $2.00 Options expiry 01/07/2011 (A) 250,000 $2.50 Options expiry 01/07/2011 Nature of change Cancellation of expired options

Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

Part 2 - Change of 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) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change 06/01/2010

vendor

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