Notice of General Meeting - 4 October 2013

3 September 2013

As announced by Oilex Ltd (Oilex) on 9 August 2013, Oilex has signed an agreement (Sale Agreement) with Magna Energy Limited (Magna) whereby Oilex has agreed to sell up to a 15% participating interest in the Cambay Production Sharing Contract incorporating its Tight Hydrocarbon Project in Gujarat, India.

As outlined in the Announcement, in the event that certain conditions, including the approval of the Government of India have not been satisfied or, where applicable, waived prior to 1 May 2014, the transaction is to be "unwound" and Oilex will, to the extent practicable, convert the initial payments made by Magna to Oilex into shares in Oilex (Unwind Shares).

Please find attached hereto a copy of the Notice of General Meeting for shareholders to approve the issue of the Unwind Shares to Magna, should the transaction need to be unwound in accordance with the Sale Agreement, dispatched to shareholders today. In addition to the Notice of General Meeting despatched to shareholders is an Explanatory Memorandum and Proxy Form.

http://www.rns-pdf.londonstockexchange.com/rns/0784N_-2013-9-3.pdf 

Yours sincerely,

Robert Ierace

Chief Financial Officer and Company Secretary

For further information, please contact: