Oilex Provides Bhandut-3 Isochronal Production Test Report

Managing Director of Oilex, Ron Miller, said:

“We are pleased that the recently announced increase of domestic prices to ~ $8.00 per Mcf seems to be stimulating additional interest in our projects. With infrastructure in place at Bhandut-3 – including bullet trucks provided by the buyer for transportation – the incremental cost of additional gas sales is small. When contracted and in production at 33 barrels of oil equivalent per day (boepd) net to Oilex, Bhandut-3, should provide a significant increase to production revenues and our existing net ~ 9 boepd from Cambay and Sabarmati fields. We also look forward to endorsement by the Government of the Cambay-73 GSA announced April 11 which has the potential to add similar net production volumes.”


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