PLUS1
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Oilex Nl | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.105p | -20.59% | 0.405p | 0.39p | 0.42p | 0.55p | 0.38p | 0.55p | 296,946,358 | 16:26:36 |
| Industry Sector | Turnover (m) | Profit (m) | EPS - Basic | PE Ratio | Market Cap (m) |
|---|---|---|---|---|---|
| Oil & Gas Producers | 0.1 | -2.4 | -0.1 | - | 8.75 |
Oilex Ltd AIM Temporary Suspension
22/10/2018 7:45am
UK Regulatory (RNS & others)
Oilex (LSE:OEX)
Historical Stock Chart
1 Month : From Oct 2018 to Nov 2018
TIDMOEX
RNS Number : 7248E
Oilex Ltd
22 October 2018
ASX Announcement
22 October 2018
ASX: OEX
AIM: OEX
AIM Temporary Suspension
Oilex Ltd (the Company) advises that it is currently appearing in the High Court of Gujarat (Court), India, with regard to the ex-parte interim stay order (Order) obtained by Gujarat State Petroleum Corporation (GSPC), as announced by the Company on 13 August 2018.
As the proceedings in the Court are public and the Court has indicated that there may be a decision as early as today, the Company has requested and been granted the temporary suspension of trading of Oilex's shares on AIM, pending an announcement to provide an update on the proceedings.
The Company will issue an announcement upon receipt of further information from the Court.
Background
On 30 July 2018, Oilex announced that it had formally requested the Directorate General of Hydrocarbons and the Ministry of Petroleum and Natural Gas, India, to transfer GSPC's participating interest in the Cambay Production Sharing Contract to the Company (Cambay PSC). The request was made strictly in accordance with the Joint Operating Agreement and follows GSPC's failure to remedy an Event of Default Notice (EoD Notice) within the required 60-day period.
As announced on 13 August 2018, GSPC served the Order from the Court directing the Company not to take any coercive steps against GSPC. As disclosed in the announcement, the Order was awarded on an interim basis to delay the Company transferring GSPC's participating interest in the Cambay PSC to the Company. The Company has subsequently made several submissions to the Court, the most recent being on 17 October 2018 where the matter was held over to 22 October 2018.
For and on behalf of Oilex Ltd
Mark Bolton
Chief Financial Officer and Company Secretary
For further information, please contact:
Investor AIM Broker AIM Nominated Media Enquires Media Enquiries
Enquiries Cornhill Capital Adviser (UK) (Aus)
Oilex Ltd Limited Strand Hanson Vigo Communications Citadel-MAGNUS
Joe Salomon Broker Limited Public Relations Michael Weir
Managing Daniel Gee Nominated Adviser Patrick Email:
Director Email: Rory Murphy/Ritchie d'Ancona/Chris mweir@citadelmagnus.
Email: danielg@cornhillcapital. Balmer McMahon com
oilex@oilex.com.au com Email: Email: Tel: +618
Tel: +61 oilex@strandhanson.c patrick.dancona@vigo 6160 4900
8 9485 3200 Tel: +44 20 o.uk comms.com Australia
Australia 3700 2500 Tel: +44 20 chris.mcmahon@vigoco
UK 7409 3494 mms.com
UK Tel:+ 44 20 7390
0230
UK
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
SUSFESSMEFASEES
(END) Dow Jones Newswires
October 22, 2018 02:45 ET (06:45 GMT)
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