Oilex announces share purchase plan for the 'next stage [media]...

Oilex announces share purchase plan for the 'next stage




Shareholders:

"The whole idea is to allow our shareholder base which has stayed true to the company for a long period of time to look at the results from the well and judge for themselves the success going forward on the back of these results and allow them to participate going forward"

Cambay:

"quite a bit more Oil with the gas than we originally anticipated so we expect that the profitability or the revenue will be quite a bit higher than we originally forecast"

Oil price drop world wide:

"in no way affects the ability of Oilex to commercialize the Cambay field going forward"

SPP monies:

" the monies are earmarked to the Production facilities at "77:73: Bhandut" as well as planning for the next drilling Campaign which we would like to undertake in 2015"

"be used in production facilities ,money will move us a big step towards cash neutrality in our India operations, money will put us in a position where we understand what the next four well designs need to look like"

Share register:

"Magna Energy strong supporter of the story ,what I call a true believer in the ability to commercialize the Cambay field"

"The big plum during 2015 is the four well drilling campaign ,we will need to talk to our Joint venture partner but early discussions have indicated they are very supportive of doing something along those lines"