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Results of General Meeting - 7 February 2011

7th Feb 2011 09:42

7 February 2011

Dear Sirs,

RESULTS OF GENERAL MEETING - 7 FEBRUARY 2011

Oilex Ltd advises that the resolution detailed below, which was put to the General Meeting of Shareholders held at 4.00pm on Monday 7 February 2011, was passed on a show of hands:

As an Ordinary Resolution

Resolution 2 - Issue of Options to Related Party - India Hydrocarbons Limited

Please refer to the attached summary of proxy voting provided in accordance with Section 251AA of the Corporations Act.

Please note that, at the General Meeting, Resolution 1 - Ratification of previous issue of Shares - was withdrawn by the Company.

For and on behalf of Oilex Ltd

J.W.R. LaurieCompany SecretaryCc: Directors of Oilex LtdProxy Voting

In accordance with Section 251AA of the Corporations Act, the proxy votes and number of shares voted were recorded as follows:

SHOW OF HANDS Resolution 2 Issue For Against Abstain Totalof Options to Related Party - 60 9 1 0 India Hydrocarbons Limited POLL Resolution 2 Issue For Against Abstain Totalof Options to Related Party - 45,196,076 12,743,927 7,862,000 65,802,003 India Hydrocarbons Limited

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