8 January 2014
By email to
[email protected]
ASX Limited
Exchange Plaza
2 The Esplanade
PERTH WA 6000
Attention: Mr Dale Allen
Dear Dale,
PRICE AND VOLUME QUERY
Further to your letter today concerning the price change and increase in volume of the Company's shares during today, we advise the following;
1. Is the Company aware of any information concerning it that has not been announced which, if known by some in the market, could explain the recent trading in its securities?
Answer: No
2. If the answer to question 1 is yes, can an announcement be made immediately? If not, why not and when is it expected that an announcement will be made?
Answer: N/A
3. Is there any other explanation that the Company may have for the recent trading in its securities?
Answer: No. However, Company notes that it has made 3 announcements during December 2013; 2 of which related to its Cambay PSC. The latest was issued on 27 December 2013 and announced that Magna Energy had exercised its option to acquire an additional 5% Participating Interest in the Cambay PSC. On 02 December 2013, Company announced that it had secured the Essar Oilfield Services Rig 4 for drilling Cambay-77H well and advised that the estimated mobilisation time was 65 to 75 days with an anticipated well spud mid-Q1 2014. The Company announced on 6 December 2013, that it had secured a £7.5 million, three year Equity Financing Facility ("EFF") with Darwin Strategic Limited of the UK.
4. Please confirm that the Company is in compliance with the listing Rules and, in particular, Listing rule 3.1.
Answer: The Company is in compliance with the Listing Rules and in particular Listing Rule 3.1.
Yours sincerely
For and on behalf of the Oilex Ltd Board
Ron Miller
Managing Director
