Oilex NL said that the rig that it has contracted for the Cambay field drilling
program has been delayed at its current location and will drill an additional well before relocating to Cambay in approximately 20-30 days. Oilex now expects
the rig to be on location at Cambay in late-August. Oilex had earlier completed
construction of three monsoon grade locations in readiness for drilling.
Oilex is operator of the Cambay Field and holds 45% interest, 15% of which
Oilex acquired from Niko Resources Ltd and remains subject to approval by the
Government of India.