17 Nov 2010 07:00
17 November 2010
Exploration Permit WA-388-P, Offshore Western Australia
Oilex Ltd advises that it is in negotiations with a third party on behalf of the WA-388-P Joint Venture in relation to a farmout transaction concerning WA-388-P. The negotiations are still ongoing and have not been finalized.
The joint venture parties in the WA-388-P permit currently comprise:
Joint Venture Party Participating Interest Oilex Ltd (Operator) 14% Sasol Petroleum Australia Ltd 30% Videocon Industries Ltd 14%
Gujarat State Petroleum Corporation Ltd 14% Bharat PetroResources Limited 14% Hindustan Petroleum Corporation. Ltd 14%
For and on behalf of Oilex Ltd
J.W.R. LaurieCompany SecretaryCc: Directors
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