Oilex Strengthens Management Team with New Appointments

Oilex Limited has announced the recent appointment of two highly experienced international resource company
executives, Ben Clube as Chief Finance and Commercial Officer and Kim Morrison as Business Development Manager, further strengthening its accomplished management and technical team.

Ben Clube brings a depth of commercial international oil and gas expertise to the Oilex group, having spent the past 15 years at BHP Billiton Petroleum in a variety of senior management roles, including Vice President of Finance and Planning in Houston, London and Perth. A Chartered Accountant, he holds a Bachelor of Science with Honors in Geology from the University of Edinburgh and previously worked as Audit Manager at Price Waterhouse Coopers in London.

Kim Morrison joined Oilex in May as Business Development Manager with responsibility for growing Oilex's portfolio of assets in the countries around the Indian Ocean rim. He has more than 23 years of wide ranging experience in Southeast and South Asia, North Africa, North America and Australasia in various senior explorationist roles with Woodside Energy, Shell International and Marathon Oil Company.

The appointment of Clube and Morrison follows a number of recent high profile appointments to the Oilex technical team, including Paul Senycia as Exploration Manager (formally Head of Exploration at Woodside Energy for 14 years); John Lamberto as Chief Geophysicist (25 years experience at LASMO, Ampol Exploration, Mobil, OMV International and BHP Billiton); and Pete Bekkers as Senior Explorationist (previously Woodside Energy and Santos Ltd).

Commenting on the appointments, Oilex's Managing Director, Dr. Bruce McCarthy, said, "We are delighted to welcome Ben and Kim to our team at this very exciting time in Oilex's development. Ben brings a depth of international commercial expertise that will be invaluable to the Company as we execute our aggressive exploration and development plans in Oman, India and Indonesia.

"Kim brings a broad knowledge and experience of basins in our region of interest that will be fundamental to the growth of our asset portfolio," Dr. McCarthy continued.

Oilex is pursuing an aggressive 15-17 well work program during 2008, with approximately 12 wells scheduled for the second half of the year focused on the development of the Company's Cambay (India) and Pendalian (Indonesia) fields and achieving first oil production.