Oilexco Files Fourth Default Status Report

Oilexco provides its fourth bi-weekly Default Status Report as per National Policy 12-203 - Cease Trade Orders For Continuous Disclosure Defaults. Since the previous announcement issued May 11th, the Company reports that no material changes have occurred. The Company continues to develop a re-organization plan.

Oilexco Inc. intends to issue the next default status report on June 8, 2009 if the year end regulatory documents are not filed before this date.