Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Oilex production dips in latest quarter

By the end, Cambay was producing 70 barrels per day on average
Oilex production dips in latest quarter
Cambay in India

India-focused oil and gas group Oilex (LON:OEX) produced 1,278 barrels equivalent in the December quarter as production from the Cambay field rose.

By the end, Cambay was producing 70 barrels per day on average though overall production was 115 barrels less than the previous quarter as the Bhandut Field did not come on stream due to a delay by the gas buyer in completing the pipeline installation.

The dispute with major shareholder Zeta Resources (10.3%)  remains on standstill until 1 March as the two parties explore a possible commercial resolution.

Cash at the end of the quarter was A$11.5mln (£5.75mln).

PhilW.jpg


Register here to be notified of future OEX Company articles
View full OEX profile

Oilex Timeline

Newswire
December 13 2016
Newswire
June 24 2016
Newswire
April 29 2016

Related Articles

employee-on-ladder_750optimised.jpg
October 05 2016
Europa's final results to end July showed a strong performance in the face of what are well documented challenges
shutterstock_10034194.jpg
August 04 2016
Chief executive Ravi Kailas called the cash injection a “huge endorsement” of the company’s operations and its growing position in the power market on the sub-continent.
oil barrels and an oil rig
August 18 2016
The oil and gas firm says it is “delighted” after having received its first payment for the gas supplied to the Tanzania Petroleum Development Corporation

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.