17th Jan 2020 14:05
ASX-RNS Announcement
17 January 2020
ASX: OEX
AIM: OEX
Update on Cambay Sale Process
Oilex Ltd (Oilex or the Company) advises that Gujarat State Petroleum Corporation (GSPC) has now opened the bids received for the sale of its 55% participating interest (PI) in the Cambay PSC. The sale process being conducted by GSPC, which is internal and confidential, is pursuant to the settlement agreed between Oilex and GSPC as announced on 9 September 2019.
Oilex understands that a preferred bidder has been identified by GSPC, which will be invited by GSPC to finalize negotiations before seeking applicable regulatory approvals in India. The Company will update the market once further information on the GSPC sale process becomes available.
Oilex holds a first right of refusal where GSPC disposes of its 55% interest in the Cambay PSC.
For and on behalf of Oilex Ltd
Joe Salomon
Managing Director
For further information, please contact:
Investor Enquires Oilex Ltd Joe Salomon Managing Director Email: [email protected] Tel: +61 8 9485 3200 Australia | AIM Broker Novum Securities Broker Colin Rowbury Email: [email protected] Tel: +44 20 7399 9427 UK | AIM Nominated Adviser Strand Hanson Limited Nominated Adviser Rory Murphy/Ritchie Balmer Email: [email protected] Tel: +44 20 7409 3494 UK | Media Enquires (UK) Vigo Communications Public Relations Patrick d'Ancona/Chris McMahon Email: [email protected] Tel:+ 44 20 7390 0230 UK | Media Enquiries (Aus) Citadel-MAGNUS Michael Weir Email: [email protected] Tel: +618 6160 4900 Australia |
Related Shares:
OEX.L