Executive Management Changes

ASX Announcement

24 May 2016

ASX: OEX

AIM: OEX

Oilex Ltd advises that Chief Financial Officer (CFO) and Company Secretary Mr Chris Bath has resigned from the Company with immediate effect.

Mr Cathal Smith has been appointed as interim Company Secretary effective immediately. Mr Smith is retained by Oilex and has served in the capacity of Legal Counsel & Commercial Manager for the last 3 years including a period as interim Company Secretary.

During the intervening period while a replacement is being appointed, commercial and administrative functions will continue to be managed by the existing Financial Controller and the finance and commercial team.

Managing Director of Oilex, Joe Salomon, said:

"Chris has worked tirelessly for the Company since his appointment in October 2014, and has greatly assisted Oilex in developing its projects and managing its capital raisings and financial administration requirements. This has been undertaken against a challenging background for the industry. We would like to thank Chris for his consistent efforts and wish him well in his future endeavours. A search for a replacement CFO and Company Secretary is currently underway."

For and on behalf of Oilex Ltd

Jonathan Salomon

Managing Director

For further information, please contact: