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Cambay 75 Operations Report – Gujarat, India

Source: www.gulfoilandgas.com 4/17/2009, Location: Asia

Oilex advises that drilling operations on the Cambay-75 appraisal/development well commenced on April 16,and drilling is currently proceeding in the top-hole section at a depth of 116 metres.

The planned total depth of the well is approximately 1,500 metres and is anticipated to take 15 days to drill with an additional 5 days for completion and initial testing. If successful, production from Cambay-75 will be added to the current production stream.

The primary objective of Cambay-75 is the Miocene Basal (MBS) oil sand, which is producing, in the nearby Cambay-64 and -74 wells. Cambay-75 is located to the west of these wells on the large unfaulted western flank of the field where an estimated 5-15 million barrels of oil in place potential resource is recognised.

Participants in the Cambay Production Sharing Contract are:
Oilex Ltd (Operator) 30%
Oilex NL Holdings (India) Limited (100% owned by Oilex Ltd) 15%
Gujarat State Petroleum Corporation Limited 55%

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