Section 708 Notice

20th Nov 2009 07:00

20 November 2009Dear Sirs,

Notice under section 708A(5)(e) of the Corporations Act 2001 (the "Act")

1. Oilex Ltd (the "Company") advises that on 20 November 2009 it allotted and

issued 19,727,000 fully paid ordinary shares at an issue price of $0.23 in accordance with shareholder approval obtained at the General Meeting held on 16 November 2009. This allotment is part of tranche 2 (comprising 20,000,000 shares) of the share placement referred to in the Company's announcement on 16 October 2009 and the Appendix 3B lodged on 19 November 2009. The balance of the tranche 2 shares - 273,000 shares, are expected to be allotted on or before Tuesday 24 November 2009.

2. As required by subsection 708A(6) of the Act, the directors of the Company

advise that:

i. the Company issued the securities without disclosure to investors under

Part 6D.2 of the Act;

ii. this Notice is being given pursuant to subsection 708A(5)(e) of the Act;

iii. as at the date of this Notice, the Company has complied with:

a. Chapter 2M of the Act as it applies to the Company; and

b. section 674 of the Act; and

iv. as at the date of this Notice, the Company is not in possession of any

excluded information as defined in subsections 708A(7) and 708A(8) of the

Act.

For and on behalf of Oilex Ltd

Jay Laurie

Company Secretary

cc: Directors - BMc/RB/MC/LLB/BC/RM

vendor

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Related Shares:

OEX.L