5th Jun 2006 07:00
OILEX NL05 June 2006Centralised Company Announcements OfficeAustralian Stock Exchange Limited10th Floor20 Bond StreetSydney NSW 2000Dear Sir,RE: OILEX TAKES OVER AS OPERATOR OF CAMBAY FIELD, GUJARAT, INDIAOilex is pleased to advise that it has completed the transfer of operatorshipfor the Cambay Field, onshore Gujarat, India, taking over from Niko ResourcesLtd, effective from 1 June 2006.Oilex is the Operator responsible for all operations, including production, inthe Cambay block. Operations personnel are based out of new offices in Vadodara(Baroda) which is near to the Cambay Field.As a consequence of the transfer of operatorship for Cambay Field and thepending transfer of operatorship for Bhandut and Sabarmati Fields, six formeremployees of Niko, and the contract field maintenance and security staff havejoined Oilex. The total complement of employees of the company in India is now12, led by Rich Paces, Country Manager and Chief Operating Officer based in NewDelhi and Tony Beckett, General Manager - Operations based in Vadodara.Earlier this year, Oilex acquired a 45% participating interest and the role ofOperator in the Cambay Production Sharing Contract, 15% of which remainssubject to the approval of the Government of India. Oilex will also becomeOperator of the Sabarmati and Bhandut Fields when the approval of theGovernment is received.Current operations on Cambay include completing the planning for the drillingprogramme and construction of the 3 well sites for the first phase of drilling,now likely to commence in late June.For and on behalf of the Board,B. H. McCarthyManaging Directorcc: Directors: MC/GIJ/RGBThe information in this report has been compiled by the Managing Director ofOilex NL, Dr Bruce McCarthy B.Sc. Hons., PhD (Geology) who has over 26 yearsexperience in the oil and gas exploration and production industry.For further information, please contact:Bruce McCarthy, Managing Director Oilex NL Tel. +61 8 9226 5577 (WesternAustralia)Archie Berens, Director Pelham Public Relations Tel. +44 20 7743 6679 (UnitedKingdom)Level 3, 50 Kings Park Road West Perth Western Australia 6005 P.O. Box 588 West Perth Western Australia 6872 Telephone (61 8) 9226 5577 Facsimile (61 8) 9226 2108 email: [email protected] www.oilex.com.au ENDOILEX NLRelated Shares:
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