Oilexco Says Production at Brenda/Nicol not Affected by Fire

Oilexco repots that the semisub, Ocean Guardian, which is under contract to the Company from Diamond Offshore Drilling UK Limited, experienced a fire in its engine room at 18:20 U.K. time on August 14th while operating in the UK North Sea. The fire was completely extinguished by the vessel's fire suppression system a short time later. All personnel were accounted for and no injuries were reported. As part of standard safety procedures non-essential personnel were evacuated from the vessel to nearby platforms and arrangements are being made for their return to the Ocean Guardian. The Ocean Guardian is one of two drilling vessels under long term contract to Oilexco and was conducting appraisal drilling on its 100% owned Shelley oil accumulation on Blocks 22/2b and 22/3a. This incident did not impact the Company's production from its Brenda/Nicol Fields.
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