Oilex Drills Cambay-19Z in India

Oilex announced that its Cambay-19Z appraisal well in India is drilling ahead at a depth of 2,219 meters in uppermost Deccan interval after setting the 7' production liner at 2,101 meters. The primary Deccan exploration objective is anticipated within the next 150 meters with an expected well total depth of 2330 meters, after which wireline evaluation logs will be run.

Further logging of the EP-III and EP-IV intervals intersected at 1758 and 1780 meters is planned in the cased hole. A program will be designed to test the most prospective hydrocarbon intersections in the well through perforations in the 7' liner once evaluation of the deeper Deccan objective has been completed.

Participants in the Cambay Production Sharing Contract are operator Oilex with 30%, Oilex's subsidiary Oilex NL Holdings with 15% and Gujarat State Petroleum Corporation with 55%.