Oilex Limited is pleased to provide the following update to its operations in India and in particular, with respect to the Cambay field.
Subsequent to the receipt of the Consent to Operate from the Gujarat Pollution Control Board, production has recommenced on the Cambay field together with gas sales.
Oilex’s Chief Executive Officer, Roland Wessel, said:
“The re-establishment of production from the Cambay gasfield has occurred soon after the Indian government announced
that the price of domestic gas would more than double from $2.9 per mmbtu to $6.1 per mmbtu. This will provide a material benefit to Oilex’s cash flow.