Cambay India Production Further Update

Oilex Limited is pleased to provide the following update to its operations in India and in particular, with respect to the Cambay field.

Oilex has been informed by the Gujarat Pollution Control Board ("GPCB") that they have confirmed the revocation of the production halt concerning the Company's Cambay field and have authorized the use of the Early Gas Production Facility ("EGPF") on the Cambay C-73 wellsite. GPCB's personnel will visit the C-73 wellsite to remove the production flange seal in the coming days.

Oilex's Chief Executive Officer, Roland Wessel, said:
"Subject to the early removal of the production flange seal by GPCB personnel, production will re-commence immediately thereafter. The resumption of gas production and re-establishment of cashflow is an important milestone for Oilex's Indian operations, and we look forward to contributing to India's indigenous gas supplies."