Cambay-77H - Production Test shut-in commenced

17 November 2014

Oilex Ltd (ASX: OEX, AIM: OEX) is pleased to announce the commencement of the Cambay-77H production test shut-in period on 17 November 2014. Upon completion, the instrumentation deployed downhole will be recovered and the data downloaded for analysis.

The test is focused on acquiring long term performance data which is essential for assessment of reservoir properties and will supplement surface data collected during flowback. A 5 day shut-in period preceded the test to allow the well to stabilise after ~ 85 days of flowback production.

The formal test has two (2) distinct sections:

ü 300 hour (12.5 days) flow period, where the well has flowed on a constant choke size after achieving stable flow soon after opening (now completed).

· 300 hour shut-in period, where data will continue to be recorded and monitored. This period may be extended depending upon the well response.

Oilex intends to announce the successful recovery of the instrumentation and data followed by an announcement regarding the flowback and test results after a preliminary analysis of the data has been completed.

 Managing Director of Oilex, Ron Miller, said;

"Cambay-77H is the first horizontal well with multi-stage fracture treatments to successfully be production tested in India. The production test flow period is now complete and the shut-in period has commenced."

For and on behalf of Oilex Ltd

 Ron Miller

Managing Director

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