Oilex Starts Up Production from Cambay-74

Oilex is very pleased to report that the Cambay-74 oil production well has been brought onstream following a brief test program.

During that test, the well flowed at an average stabilised rate of 542 barrels of oil per day (bopd) on 6.3mm choke with an average of 280 cubic feet of gas per barrel of oil (GOR 280) at a flowing tubing pressure of 722 psi.

Together with Cambay-64, the combined near-term flow rate is expected to be in the range of 500-800 bopd, again dependent upon immediate storage and transportation limitations.

Cambay-64 workover well has continued to produce oil with no water from the Miocene MBS reservoir at rates of 180 - 300 bopd constrained by available storage tank capacity. The well tested 380 API oil from a perforated interval of 2 metres at an average rate of 310 bopd on 5.6 mm choke at a flowing tubing pressure of 660 psi.

Participants in the Cambay Production Sharing Contract are: Oilex Ltd (Operator) with 30%, Oilex NL Holdings (India) Limited with 15% and Gujarat State Petroleum Corporation with 55%.