Ann: Appendix 3B - Exercise of Listed Options, page-9

Yes the vibe has certainly turned positive for Oilex......but stuff that target!! - lets aim for 30c in 3 months. This would need a few critical blocks to fall into place - a market believable Cambay reserves probability/upgrade and confirmed gas sales (with increasing curve) into India. And the holy grail hope of a massive oil major buyin into the Canning prospect with cash up front and their operator-ship.....Oilex can stay a minor interest, free rider would be my liking. Then my argument for an extn is null and void!