India Press Report

12th Nov 2010 07:01

12 November 2010AIM MarketLondon Stock Exchange10 Paternoster SquareLondon EC4M 7LSDear Sir/Madam,RE: INDIA PRESS REPORT

Oilex Ltd (the "Company") notes the increase in its share price and trading volumes yesterday. The Company believes that the price rise may be linked to a report in the Indian press relating to the Company's Cambay contract area in Gujarat, India. The article, over which the Company has no control, was published yesterday. The Company refers to its announcements made on 6th September 2010 "Significant Reserves Identified at Cambay Field", on 29th October 2010 "Quarterly Report to Shareholders 30 September 2010" and on 19th October 2010 "OilBarrel Presentation" which set out information relating to the reserves and contingent resources of the Cambay contract area.

The Company is not aware of any information concerning it that has not been announced which, if known, could be an explanation for recent trading in the securities of the Company.

For and on behalf of the Oilex Ltd Board

Ben ClubeFinance Director

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