9th Nov 2006 07:00
OILEX LTD9 November 2006Alternative Investment MarketLondon UKDear Sir/Madam,RE: COMPLETION BOW ENERGY SALE & FORM 603 NOTICE OF INITIAL SUBSTANTIAL HOLDEROilex Ltd is pleased to advise that the sale of Oilex's onshore QueenslandPetroleum interests (with the exception of ATP 548P) to Bow Energy Ltd ("BOW")has been completed and BOW has issued to Oilex 13.3 million BOW shares and 13.3million options exercisable at 50 cents with a term of 5 years.Payment of the remaining consideration of 1.7 million shares and 1.7 millionoptions is contingent on the outcome of a right of pre-emption by the otherJoint Venture parties over ATP 548P.A related Form 603 Notice of Initial Substantial Holder has been lodged andshows Oilex holding 14.14% of the issued capital of BOW.For and on behalf of the BoardMax CozijnCompany Secretary/Directorcc: Directors - BMc/RB/GIJ 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 ENDOILEX LTDRelated Shares:
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