- Oilex Ltd was incorporated in Australia. Its focused on searching for exploration and production assets in the prospective hydrocarbon basins of India , Australia - particularly in the Northwest Shelf and in the Timor Sea, and in the countries of Southeast and South Asia and near Middle East around the rim of the Indian Ocean.
- With eight permits/interests in prospective basins, Oilex now has interests in three field re-development and exploration projects in India; two exploration permits offshore Australia; one production sharing contract in the Joint Petroleum Development Area between Timor-Leste and Australia; one exploration and production sharing agreement onshore Oman and one production sharing contract onshore Sumatera Indonesia.
- Oilex is the operator of joint ventures comprising major Indian energy companies in all areas save for Indonesia. In Indonesia Oilex is non operator in a joint venture with an Indonesian company.
Update on Lore 1: http://www.stockopedia.com/news/announcement/OEX/091209oex000566.htm
Oilex Ltd (ASX/AIM: OEX) advises that on the Loré-1 well, the first of a 2 well
program in the Timor Sea contract area JPDA 06-103, the initial wire line run
has been completed after the well reached total depth at 3,581 metres. The well
intersected the objective Elang and Plover formations close to prognosis and
minor oil shows were observed in the Elang section. Preliminary evaluation
indicates that there are zones with limited oil saturation in the Elang
formation which will be evaluated with further wire line logging.
