Oilex Drilling Ahead at Pendalian-3 in Indonesia

Oilex says that surface casing has been set at a depth of 76.2 meters and preparations are being made to drill ahead in 12 1/4 inch hole at the Pendalian-3 located in West Kampar Production Sharing Contract Area, Central Sumatra, Indonesia. Drilling operations are planned to take 13 days following which the well will be cased and a comprehensive 14-day multi-zone testing program will be undertaken.

Participants in the West Kampar Production Sharing Contract are:


Joint Venture Party                           Participating        
                                              Interest             
                                                                   
Oilex                                         45%                  
                                                                   
Sumatera Persada Energi (Operator)            55%                  

India - Bhandut PSC - Bhandut-2Z - Oilex advises that following some weather related delays, the Quipo drilling rig has completed mobilization to the Bhandut 2 well location and is being rigged up in preparation for re-entering and abandoning this well prior to commencing the Bhandut 2Z appraisal/production well.

Participants in the Bhandut Production Sharing Contract are:


Joint Venture Party                           Participating        
                                              Interest             
                                                                   
Oilex (Operator)                              40%                  
                                                                   
Gujarat State Petroleum Corporation           60%                  
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