CHANGE OF SUBSTANTIAL SHAREHOLDER INTEREST

19th Dec 2007 07:00

OILEX LTD19 December 2007Alternative Investment MarketLondon UKDear Sir/Madam,

RE: NOTICE OF CHANGE OF INTEREST OF SUBSTANTIAL HOLDER - FORM 604

A Form 604 "Notice of Change of Interest of Substantial Holder" was received today from Oceanic Asset Management Pty Ltd and its affiliates pertaining to a holding of 7,922,948 shares held in Oilex Ltd representing 6.1% of the increased issued capital.

For and on behalf of the Board

Max CozijnDirector - Company Secretarycc: Directors - BMc/RB/LLB ABN 50 078 652 632

Level 3, 50 Kings Park Road West Perth WA 6005 Australia, PO Box 588 West Perth

WA 6872 Australia Telephone: (+61 8) 9226 5577 Facsimile: (+61 8) 9226 2108 Email: [email protected] Web: www.oilex.com.au

OILEX LTD

---

Related Shares:

OEX.L