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OEX Oilex Ld

0.165
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Oilex Ld LSE:OEX London Ordinary Share AU000000OEX8 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.165 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Oilex Ltd Oilex tenders for 55% interest in Cambay PSC (6896R)

13/12/2016 8:23am

UK Regulatory


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TIDMOEX

RNS Number : 6896R

Oilex Ltd

13 December 2016

ASX Announcement

13 December 2016

ASX: OEX

AIM: OEX

Oilex tenders for additional 55% interest in Cambay PSC

Oilex Ltd (the Company) is pleased to advise that it has participated in a formal tender process submitting a conditional offer for an additional 55% interest in the Cambay PSC (Cambay). Oilex has submitted the offer in response to a competitive bid process initiated by Gujarat State Petroleum Corporation Limited (GSPC) for the possible disposal of its interest in Cambay. If successful in the tender process, Oilex would increase its current 45% interest to 100% of Cambay.

In addition to GSPC's agreement to any potential sale, Indian regulator approvals will be required to effect the sale/transfer of GSPC's interest in Cambay.

Pursuant to the Cambay JOA, Oilex is the Operator and holds a pre-emptive right in respect of the possible sale of GSPC's interest in Cambay to a third party.

Pursuant to the tender process, Oilex will consider its strategic options for Cambay in order to realise value for shareholders. The Company will continue to update the market on any material developments.

Joe Salomon

Managing Director

For further information, please contact:

 
 Investor                     Nominated                     Media Enquires                Media Enquiries 
  Enquiries                   Adviser                       (UK)                          (Aus) 
  Oilex Ltd                   Strand Hanson                 Vigo Communications           Citadel-MAGNUS 
  Joe Salomon                 Limited                       Public Relations              Michael Weir 
  Managing                    Nominated                     Patrick d'Ancona/Chris        Email: 
  Director                    Adviser                       McMahon                       mweir@citadelmagnus.com 
  Email: oilex@oilex.com.au   Rory Murphy/Ritchie           Email:                        Tel: +618 
  Tel: +61                    Balmer                        patrick.dancona@vigocomms.c   6160 4900 
  8 9485 3200                 Email:                        om                            Australia 
  Australia                   oilex@strandhanson.co.uk      chris.mcmahon@vigocomms.com 
                              Tel: +44 20                   Tel: +44 20 
                              7409 3494                     7830 9700 
                              UK 
===========================  ============================  ============================  ============================= 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCFFFSADFMSEEE

(END) Dow Jones Newswires

December 13, 2016 03:23 ET (08:23 GMT)

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