Proposed Issue of Securities Unlisted Options

12th Nov 2010 09:07

12 November, 2010

PROPOSED ISSUE OF SECURITIES UNLISTED OPTIONS

Oilex Ltd advises that it intends to issue unlisted options for no consideration to India Hydrocarbons Limited at a date to be advised. The options are intended to form part of India Hydrocarbons Limited's compensation package for the provision of Consultancy Services to Oilex. Details of the intended issue are as follows:

* 2,000,000 options to vest on grant date and exercisable at $0.30 by 10 November 2012 * 2,000,000 options to vest on grant date and exercisable at $0.37 by 10 November 2014

For and on behalf of Oilex Ltd

Ben ClubeFinance DirectorCc Oilex Directors

vendor

---

Related Shares:

OEX.L