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Oilex (OEX:AIM) 69p

Managing director Dr Bruce McCarthy says 2008 will be a landmark year for the company, having announced an aggressive drilling programme, primarily focused on its acreage in Oman, India and Indonesia, with up to 17 new wells planned. The Australian company, which has a secondary listing on Aim, should achieve first production this year and is currently drilling on Block 56, onshore Oman, with the exploration well, Sarha-1 spudding on New Years Eve. It is the first of three exploration wells on the acreage which will be drilled in continuous sequence.