ASX Announcement
19 June 2017
ASX: OEX
AIM: OEX
Partial Receipt of Outstanding Cash Calls
Oilex Ltd (the Company) is pleased to announce material progress in the resolution of the outstanding cash calls owing to the Cambay and Bhandut PSCs.
During the current quarter to date, the Joint Ventures have received the equivalent of US$1.41m million gross in regards to outstanding cash calls from its joint venture partner.
After the above-mentioned receipts, the remaining aggregate outstanding cash call balance for the Cambay and Bhandut PSCs is the equivalent of US$5.68m. The Company continues to maintain a constructive dialogue with its joint venture partner to resolve the remaining outstanding cash call balances.
Managing Director of Oilex, Jonathan Salomon, said;
"We continue to work closely with our partner and are pleased with the progress in resolving outstanding cash calls. We look forward to further cooperation with our Indian partner and the Government of India in pursing the development of the Cambay project."
For and on behalf of Oilex Ltd
Jonathan Salomon
Managing Director
For further information, please contact:
Investor Enquiries Oilex Ltd Joe Salomon Managing Director Email: [email protected] Tel: +61 8 9485 3200 Australia |
AIM Broker Cornhill Capital Limited Broker Colin Rowbury Email: [email protected] Tel: +44 20 3700 2516 UK |
AIM Nominated Adviser Strand Hanson Limited Nominated Adviser Rory Murphy/Ritchie Balmer Email: [email protected] Tel: +44 20 7409 3494 UK |
Media Enquires (UK) Vigo Communications Public Relations Patrick d'Ancona/Chris McMahon Email: [email protected] [email protected] Tel: +44 20 7830 9700 |
Media Enquiries (Aus) Citadel-MAGNUS Michael Weir Email: [email protected] Tel: +618 6160 4900 Australia |
