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Appendix 3B

RNS Announcement

RNS Number : 4207S

Oilex Ltd

07 July 2015

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement,

application for quotation of additional securities

and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13

Name of entity

Oilex Ltd

ABN

50 078 652 632

We (the entity) give ASX the following information.

Part 1 ‑ All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1	+Class of +securities issued or to be issued	Fully paid ordinary shares.

2	Number of +securities issued or to be issued (if known) or maximum number which may be issued	Approximately 169,476,510 fully paid ordinary shares in Oilex Ltd (Oilex) pursuant to a renounceable rights issue (Rights Issue).

3	Principal terms of the +securities (e.g. if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)	Fully paid ordinary shares.


4	Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities? If the additional +securities do not rank equally, please state: · the date from which they do · the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment · the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment		Yes.

5	Issue price or consideration		A$0.041 per share for eligible shareholders registered on the ASX. £0.02 per share for eligible Depository Interest holders.

6	Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)		The net proceeds of the Rights Issue will be used to fund part of the Cambay and Bhandut Field work programmes for the 2015/16 year, minimum work commitments in the Canning Basin and working capital.

6a	Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A? If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i		No.

6b	The date the security holder resolution under rule 7.1A was passed		N/A.

6c	Number of +securities issued without security holder approval under rule 7.1		N/A.

6d	Number of +securities issued with security holder approval under rule 7.1A		N/A.

6e	Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)		N/A.

6f	Number of +securities issued under an exception in rule 7.2		N/A.

6g	If +securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the +issue date and both values. Include the source of the VWAP calculation.		N/A.

6h	If +securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements		N/A.

6i	Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements		N/A.

7		+Issue dates Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A. Cross reference: item 33 of Appendix 3B.	5 August 2015

Number

+Class

Number and +class of all +securities quoted on ASX (including the +securities in section 2 if applicable)

After the Rights Issue there will be approximately 892,776,015 shares on issue, this includes 45,393,466 Tranche 1 shares to be issued on or about 14 July 2015

The exact number is still to be finalised and is subject to rounding of securityholder entitlements.

188,596,471

Fully paid ordinary shares

Listed options exercisable at $0.15 each by 7/9/15

		Number	+Class
9	Number and +class of all +securities not quoted on ASX (including the +securities in section 2 if applicable)	75,000 3,000,000 5,000,000 500,000 2,000,000 2,000,000 3,000,000 250,000 500,000 1,325,000 1,500,000 2,000,000 5,000,000 500,000 250,000 1,075,000 500,000 4,000,000 1,500,000	$0.63 options due 1/8/15 $0.15 options due 17/12/15 $0.25 options due 08/3/16 $0.15 options due 27/6/16 $0.15 options due 04/11/16 0.15 options due 11/11/16 $0.15 options due 5/12/16 $0.15 options due 10/3/17 $0.25 options due 27/6/17 $0.25 options due 5/8/17 $0.25 options due 25/8/17 $0.25 options due 11/11/17 $0.10 options due 22/12/17 $0.25 options due 16/2/18 $0.25 options due 10/3/18 $0.35 options due 5/8/18 $0.35 options due 16/2/19 $0.15 options due 29/4/19 $0.35 options due 25/8/19

10	Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)	N/A.

Part 2 ‑ Pro rata issue

11	Is security holder approval required?	No.

12	Is the issue renounceable or non-renounceable?	Renounceable.

13	Ratio in which the +securities will be offered	1:4

14	+Class of +securities to which the offer relates	Fully paid ordinary shares.

15	+Record date to determine entitlements	5.00pm (AWST) 14 July 2015

16	Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?	No.

17	Policy for deciding entitlements in relation to fractions	Where fractions arise in the calculation of ordinary share entitlements under the Rights Issue they will be rounded up to the next whole number of new ordinary shares.

18	Names of countries in which the entity has security holders who will not be sent new offer documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7.	Only shareholders with a registered address in Australia, New Zealand and the United Kingdom will receive the offer documentation.

19	Closing date for receipt of acceptances or renunciations	5.00pm (AWST) 28 July 2015

20	Names of any underwriters	Patersons Securities Limited

21	Amount of any underwriting fee or commission	6%

22	Names of any brokers to the issue	N/A.

23	Fee or commission payable to the broker to the issue	N/A.

24	Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of security holders	N/A.

25	If the issue is contingent on security holders' approval, the date of the meeting	N/A.

26	Date entitlement and acceptance form and offer documents will be sent to persons entitled	17 July 2015

27	If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders	8 July 2015

28	Date rights trading will begin (if applicable)	10 July 2015

29	Date rights trading will end (if applicable)	21 July 2015

30	How do security holders sell their entitlements in full through a broker?	By completing the "Instructions to Stockbroker" section within the Entitlement and Acceptance Form, which accompanies the Offer Booklet, and providing it to their Stockbroker.

31	How do security holders sell part of their entitlements through a broker and accept for the balance?	As noted in Part 2, No. 30 of this Appendix 3B above.

32	How do security holders dispose of their entitlements (except by sale through a broker)?	By completing a Renunciation Form (obtainable through their stockbroker or Oilex's share registry) with the Entitlement and Acceptance Form, completed by the transferee, together with a cheque for the appropriate application monies and providing them to Oilex's share registry.

33	+Issue date	5 August 2015

Part 3 ‑ Quotation of securities

You need only complete this section if you are applying for quotation of securities

Type of +securities

(tick one)

(a)

+Securities described in Part 1

(b)

All other +securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

35		If the +securities are +equity securities, the names of the 20 largest holders of the additional +securities, and the number and percentage of additional +securities held by those holders

36		If the +securities are +equity securities, a distribution schedule of the additional +securities setting out the number of holders in the categories 1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over

37		A copy of any trust deed for the additional +securities

Entities that have ticked box 34(b)

38	Number of +securities for which +quotation is sought

39	+Class of +securities for which quotation is sought

40	Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities? If the additional +securities do not rank equally, please state: · the date from which they do · the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment · the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

41	Reason for request for quotation now Example: In the case of restricted securities, end of restriction period (if issued upon conversion of another +security, clearly identify that other +security)

		Number	+Class
42	Number and +class of all +securities quoted on ASX (including the +securities in clause 38)

Quotation agreement

1 +Quotation of our additional +securities is in ASX's absolute discretion. ASX may quote the +securities on any conditions it decides.

2 We warrant the following to ASX.

· The issue of the +securities to be quoted complies with the law and is not for an illegal purpose.

· There is no reason why those +securities should not be granted +quotation.

· An offer of the ⁺securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

· Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any +securities to be quoted and that no-one has any right to return any +securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the +securities be quoted.

· If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the +securities be quoted.

3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

4 We give ASX the information and documents required by this form. If any information or document is not available now, we will give it to ASX before +quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here: Date: 7 July 2015

Company secretary

Print name: Chris Bath

== == == == ==

Appendix 3B - Annexure 1

Calculation of placement capacity under rule 7.1 and rule 7.1A for eligible entities

Introduced 01/08/12 Amended 04/03/13

Part 1

Rule 7.1 - Issues exceeding 15% of capital
Step 1: Calculate "A", the base figure from which the placement capacity is calculated
Insert number of fully paid +ordinary securities on issue 12 months before the +issue date or date of agreement to issue
Add the following: • Number of fully paid +ordinary securities issued in that 12 month period under an exception in rule 7.2 • Number of fully paid +ordinary securities issued in that 12 month period with shareholder approval • Number of partly paid +ordinary securities that became fully paid in that 12 month period Note: • Include only ordinary securities here - other classes of equity securities cannot be added • Include here (if applicable) the securities the subject of the Appendix 3B to which this form is annexed • It may be useful to set out issues of securities on different dates as separate line items
Subtract the number of fully paid +ordinary securities cancelled during that 12 month period
"A"

Step 2: Calculate 15% of "A"
"B"	0.15 [Note: this value cannot be changed]
Multiply "A" by 0.15
Step 3: Calculate "C", the amount of placement capacity under rule 7.1 that has already been used
Insert number of +equity securities issued or agreed to be issued in that 12 month period not counting those issued: • Under an exception in rule 7.2 • Under rule 7.1A • With security holder approval under rule 7.1 or rule 7.4 Note: • This applies to equity securities, unless specifically excluded - not just ordinary securities • Include here (if applicable) the securities the subject of the Appendix 3B to which this form is annexed • It may be useful to set out issues of securities on different dates as separate line items
"C"
Step 4: Subtract "C" from ["A" x "B"] to calculate remaining placement capacity under rule 7.1
"A" x 0.15 Note: number must be same as shown in Step 2
Subtract "C" Note: number must be same as shown in Step 3
Total ["A" x 0.15] - "C"	[Note: this is the remaining placement capacity under rule 7.1]

Part 2

Rule 7.1A - Additional placement capacity for eligible entities
Step 1: Calculate "A", the base figure from which the placement capacity is calculated
"A" Note: number must be same as shown in Step 1 of Part 1
Step 2: Calculate 10% of "A"
"D"	0.10 Note: this value cannot be changed
Multiply "A" by 0.10
Step 3: Calculate "E", the amount of placement capacity under rule 7.1A that has already been used
Insert number of +equity securities issued or agreed to be issued in that 12 month period under rule 7.1A Notes: • This applies to equity securities - not just ordinary securities • Include here - if applicable - the securities the subject of the Appendix 3B to which this form is annexed • Do not include equity securities issued under rule 7.1 (they must be dealt with in Part 1), or for which specific security holder approval has been obtained • It may be useful to set out issues of securities on different dates as separate line items
"E"

Step 4: Subtract "E" from ["A" x "D"] to calculate remaining placement capacity under rule 7.1A
"A" x 0.10 Note: number must be same as shown in Step 2
Subtract "E" Note: number must be same as shown in Step 3
Total ["A" x 0.10] - "E"	Note: this is the remaining placement capacity under rule 7.1A

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END

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RNS metadata

Title: Appendix 3B
Time: 16:21:22
Date: 7 Jul 2015
Category: Miscellaneous
ID: 4207S