Oilex Ltd is an oil and gas exploration and production company engaged in the exploration, appraisal and development of petroleum resources in prolific basins by using its immense technical and commercial expertise across India, Australia and Indonesia. The company’s shares are traded on the Australian Securities Exchange as ASX: OEX and it is also traded on the Alternative investment market (AIM) of the London Stock Exchange as LON: OEX.
The company targets on the selected Super Basins that have high quality resources that are available in low-cost entry opportunities in terms of exploration, development and production positions are open for operation to junior oil and gas companies with highly supportive regulators and have a wealth of existing.
The company’s portfolio of exploration and development assets are in Australia and UKCS, India and Indonesia. In 2019, the company entered the oil and gas projects in Australia by acquiring 100% interest in the two petroleum Exploration licences in the prolific onshore copper- Eromanga Basin and gas prone East Irish Sea in the UK. The Copper- Eromanga Basin consist of two blocks that are PEL 112 and PEL 444 located on the extensions of the Western Flank oil fairway which host over 30% of the copper basin oil reserve. To acquire the 100% ownership and operation in the 27 petroleum Retention Licenses (PRL) in the Northern oil and West gas Fairway, South Australia, it has also entered into a binding agreement with Senex Energy Limited in 2019. The company also entered into a replacement agreement with Armour Energy, Armour acquired 100% of the issued capital of CoEra Limited, this includes the transaction to bid block CO2019-C (PELA677) awarded to a subsidiary of CoEra in the South Australian government bid round. CoEra is the fully owned subsidiary of the company that owns all the direct and indirect licences in the Copper- Eromanga Basin. The East Irish Sea has number of fields that produces over 8TCF gas that is supplied to the nearby and recently refurbished North Morecambe Gas production platform and terminal. It acquired 100% participating rights in the Doyle-Peel licence (P2446) in the offshore East Irish Sea in UK.
In Gujarat, India the company has two assets that provide opportunity to fulfill the supply and Demand gap in the state. The Cambay field covered in 161 km sq, which has 45% participating interest with joint venture between Gujarat State Petroleum Corporation Ltd and Niko Resources Ltd since 2005. The Bhandut Field has the 40% operating right with the company with the joint venture with Gujarat State Petroleum Corporation Limited; this field is located near Lakshmi, Gauri and Hazira Field in Gujarat.
The other projects include Joint Petroleum Development Area (JPDA 06-103) and Indonesia. The JPDA 06-103 has 10% operating interest with the company, and it is located in the Flamingo Trough Portion of the Northern Bonaparte Basin, Timor Sea covering an area of 1,870 km sq. it is in the joint venture between Oilex Ltd, Pan Pacific Petroleum Ltd (15%), Japan Energy (15%), Gujarat state petroleum corporation (20%), Bharat petroleum resources ltd (20%) and Videocon (20%). The company acquired 45% equity interest in the West Kampar PSC in Central Sumatra, Indonesia with an agreement with Sumatera Persada Energi.
Level 1, 11 Lucknow Place, West Perth, 6005, Australia