Notification of Listed Options Expiry

ASX Announcement

19 August 2015

ASX: OEX

AIM: OEX

Oilex Ltd notifies holders of the Company's 188,255,171 Listed Options (OEXO) (Options) that the Options will expire at 5:00pm WST on 7 September 2015 (Expiry Date).

The following information is provided as contemplated by ASX Listing Rule 6.24:

· each Option entitles the Option holder to apply for one fully paid ordinary share in the capital of the Company

· the exercise price for each Option is $0.15 per Option

· if an option is exercised, payment would be required prior to 7 September 2015

· if the options are not exercised prior to the Expiry Date, those Options will lapse and there is no further right or entitlement to those Options

· official quotation of the Options will cease on 31 August 2015, being five business days before the Expiry Date

· the last available closing price of the listed shares in the Company prior to the date of this announcement was $0.038

· the highest and lowest market sale price of the Company's shares on ASX during the 3 months immediately preceding the date of this announcement and the respective dates of those sales were:

Highest: $0.07 on 26 June 2015

Lowest: $0.035 on 12 August 2015

· the exercise of the Options is not underwritten.

For and on behalf of Oilex Ltd

Chris Bath

Chief Financial Officer and Company Secretary

For further information, please contact the company or its advisors listed below: