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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 |
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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