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oilex ltd (OEX) Snapshot

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52 Week High
07/25/14 - A$0.22
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12/23/14 - A$0.04
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oilex ltd (OEX) Details

Oilex Ltd is engaged in the exploration, appraisal, development, production, and sale of oil and gas. The company holds interests in 8 licenses/permits covering an area of approximately 26,243 square kilometers in Australia, India, and Indonesia. Its flagship property includes the Cambay project covering 161 square kilometers located in Gujarat state. The company was incorporated in 1997 and is headquartered in Leederville, Australia.

Founded in 1997

oilex ltd (OEX) Top Compensated Officers

Managing Director, Executive Director and Mem...
Total Annual Compensation: A$256.0K
Chief Geoscientist
Total Annual Compensation: A$302.8K
Total Annual Compensation: A$377.5K
Compensation as of Fiscal Year 2014.

oilex ltd (OEX) Key Developments

Oilex Ltd Appoints Jeffrey D. Auld as UK Based Independent Non-Executive Director

Oilex Ltd. announced the appointment of Mr. Jeffrey D. Auld as a UK based independent non-executive director. Mr. Auld has over 24 years of experience in the oil and gas sector focused on financial and commercial management in upstream oil and gas development and production. His career spans working for a number of major financial institutions, including Macquarie Capital (Europe) Limited in London where he served as Managing Director - Head of EMEA Oil and Gas. Other financial institutions include Canaccord Adams Limited and Goldman, Sachs & Co. In addition to tenure with financial institutions, Mr. Auld's experience includes corporate and commercial management in exploration and production companies such as LSE-listed Premier Oil Plc, PetroKazakhstan Inc. and Equator Exploration Limited. Mr. Auld currently holds directorships in AIM-listed Lansdowne Oil and Gas plc., Sabalo Energy Limited and Burnt Stick Advisors Limited.

Oilex Ltd Announces the Preliminary Results of the Flowback and Production Testing of Cambay-77H

Oilex Ltd. announced the preliminary results of the flowback and production testing of Cambay-77H. All proof-of-concept objectives have been achieved and the commercial development of Cambay Field using multi-stage frac technology is feasible. Cambay-77H was designed as a Proof-of-Concept well with a short 350m lateral. Initial production was over a 24 hour period of 2.03MMscfe/d, 55% hydrocarbon liquids. An oil to gas ratio of ~100 bbls per MMscf of gas in the Cambay-77H area remains valid - some 250% higher than extrapolated from Cambay-73. Increased OGR adds ~40% revenue per MMscf of produced gas using price assumptions of USD 8.00/Mscf and USD 70/bbl for gas and oil respectively. Total production during flowback and testing was 62.3MMscfe. Total operations water recovered - 23,732 bbls (88%) - no formation water has been identified during flowback and testing.

Oilex Ltd. Commences Cambay-77H - Production Test

Oilex Ltd. announced the commencement of the Cambay-77H production test on November 04, 2014. Instrumentation has been deployed down hole and will record pressure data for the duration of the test. Upon completion, the instrumentation will be recovered and the data downloaded for analysis. The test is focused on acquiring long term performance data which is essential for assessment of reservoir properties and will supplement surface data collected during flowback. A 5 day shut-in period preceded the test to allow the well to stabilise after 85 days of flowback production. The formal test has two distinct sections: 300 hour (12.5 days) flow period, where the well will flow on a constant choke size after achieving stable flow soon after opening and 300 hour shut-in period, where data will continue to be recorded and monitored. This period may be extended depending upon the well response. The production test is the final major field activity for Cambay-77H and when concluded, all the proof of concept objectives will have been successfully completed. Oilex will then focus on putting Cambay-77H into production as soon as possible, as well as incorporating the proof of concept outcomes into the planning for the next drilling campaign.


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