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TRADING HALT

1st May 2007 07:00

OILEX LTD

1 May 2007

Alternative Investment Market

London UKDear Sir/Madam,RE: TRADING HALT

A halt in the trading of Oilex Ltd shares on the Australian Stock Exchange (ASX) has been requested, and is likely to be effective from the start of trading on the ASX this morning. The halt has been requested pending the release of an announcement, and the shares are expected to resume trading immediately after the announcement has been released.

For and on behalf of the Board

Max CozijnDirector - Company Secretarycc: Directors - BMc/RB/LLB ABN 50 078 652 632

Level 3, 50 Kings Park Road West Perth WA 6005 Australia, PO Box 588 West Perth

WA 6872 Australia Telephone: (+61 8) 9226 5577 Facsimile: (+61 8) 9226 2108 Email: [email protected] Web: www.oilex.com.au

OILEX LTD

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