RESULTS OF GENERAL MEETING- 28 JULY 2006

28th Jul 2006 07:00

OILEX NL28 July 2006Alternative Investment MarketLondon UKDear Sir/Madam,RE: RESULTS OF GENERAL MEETING - 28 JULY 2006We have pleasure in advising that all resolutions put to the General Meeting ofShareholders, held at 10.00am on Friday 28 July 2006 were passed unanimously ona show of hands as detailed below:Proxy VotesThere were a total of 51 valid proxies received for 11,777,087 Votes and 3invalid Proxies for 230,000 Votes. The Proxy Votes are summarized below:In the Following Order IN FAVOUR Of Chair/ FOR /AGAINST/ ABSTAIN/ OPEN/ TOTALORDINARY RESOLUTIONS:1. Ratification of previous issue of Shares & Options 706,397 8,830,886 10,0002,164,536 65,268 11,777,0872. Ratification of previous Employee Options 706,397 10,812,196 13,226 180,00065,268 11,777,0873. Ratification of Alchemy Options 706,397 9,627,125 10,000 1,012,593 420,97211,777,0874. Ratification of Options issue to LinQ Capital Ltd 706,397 10,995,422 10,0000 65,268 11,777,0875. Issue of Options to LinQ Capital Ltd 706,397 10,995,422 10,000 0 65,26811,777,0876. Issue of Shares to IHL 706,397 11,005,422 0 0 65,268 11,777,0877. Issue of Shares- Placement 706,397 7,737,217 17,122 2,895,379 420,97211,777,0878a. Issue of Employee Options - R. Paces 706,397 7,827,528 13,226 180,0003,049,936 11,777,0878b Issue of Employee Options - A Beckett 706,397 10,812,196 13,226 180,00065,268 11,777,087SPECIAL RESOLUTIONS:9a. Conversion to Public Company 706,397 11,005,422 0 0 65,268 11,777,0879b. Change of Company Name 706,397 11,005,422 0 0 65,268 11,777,0879c. Adoption of New Constitution 706,397 11,005,422 0 0 65,268 11,777,087For and on behalf of the BoardM.D.J. CozijnChairmancc: Directors - BMcC/RB/GIJLevel 2, 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 NL

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