Source - RNS
RNS Number : 4068I
Oilex Ltd
19 June 2017
 

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

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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