5th Mar 2012 07:00
05 March 2012
Cambay-76H Well operations updaTE
Further to the announcement of 20 February 2012, Oilex Ltd ("Oilex" ASX: OEX, AIM: OEX) provides the following update on operations at the Cambay-76H horizontal well in the Cambay Field, onshore Gujarat, India.
Operations to retrieve the stuck milling assembly and coiled tubing have been successfully concluded with the entire assembly now having been recovered at surface.
The well is currently being prepared for resumption of milling of the seven remaining fracture stimulation stages and when this operation is completed, production tubing will be run and the well will be flowed to surface for cleanup and production testing.
The participating interests in the Cambay PSC are:
| Joint Venture Party | Participating Interest |
Oilex Ltd (Operator) | 30% |
Oilex NL Holdings (India) Limited | 15% |
Gujarat State Petroleum Corporation Ltd | 55% |
For further information, please contact:
Oilex Ltd | +61 (0)8 9485 3200 | (Western Australia) |
Bruce McCarthy Managing Director | ||
Ben Clube Finance Director oilex@oilex.com.au | ||
Ambrian Partners Limited (Nominated Adviser and AIM Broker) | ||
Matthew Einhorn | +44 (0) 20 7634 4860 | (UK) |
Samantha Harrison | +44 (0) 20 7634 4712 | (UK) |
Read Corporate | ||
Nicholas Read | +61 (0)8 9388 1474 | (Western Australia) |
Tavistock Communications | +44 (0)207 920 3150 | (UK) |
Ed Portman | +44 (0)7733 363 501 | (UK) |
Paul Youens | +44 (0)7843 260 623 | (UK) |
This document may include forward-looking statements. Forward-looking statements include, but are not necessarily limited to, statements concerning Oilex Ltd's planned exploration program and other statements that are not historic facts. When used in this document, the words such as "could", "plan", "estimate" "expect", "intend", "may", "potential", "should" and similar expressions are forward-looking statements. Although Oilex Ltd believes that its expectations reflected in these statements are reasonable, such statements involve risks and uncertainties, and no assurance can be given that actual results will be consistent with these forward-looking statements.
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