Australian Stock Exchange Trading Halt

9 Dec 2010 07:00

9 December 2010AIM MarketLondon Stock Exchange10 Paternoster SquareLondon EC4M 7LSDear Sirs,

Oilex Ltd ("the Company") wishes to announce that trading in its ordinary shares on the Australian Securities Exchange ("ASX") has been halted pending an announcement in relation to completion of an equity financing. Such announcement is currently expected to be made within the next two days, after which trading in the Company's shares will resume on the ASX. The Company's shares will continue to trade on the AIM market during this period.

For further information, please contact:

Oilex Ltd +61 (0)8 9485 3200 (Western Australia) Bruce McCarthy Managing Director oilex@oilex.com.au Ben Clube, Finance Director oilex@oilex.com.au Read Corporate +61 (0)8 9388 1474 (Western Australia) Nicholas Read nicholas@readcorporate.com.au Conduit PR +44 (0)20 7429 6610 (UK) Paul Youens +44 (0)7843 260 623 (UK)paul@conduitpr.com Jonathan Charles +44 (0)7791 892 509 (UK)jonathan@conduitpr.com Ambrian Partners Limited +44 (0) 20 7634 4856 (UK)(AIM Broker & NOMAD) Richard Swindells richard.swindells@ambrian.com