Company Profile

“Best in its class” is the driver behind Oilex's business as an independent oil and gas exploration and production company. Our aim is to achieve consistently exceptional results in all of the parts of our business by:

• Acquiring, for a fair price, exploration and potential production assets that will provide the opportunity for rapid, sustained growth with an attractive balance of risk and reward;
• Attracting an experienced, productive and motivated team of people that will generate the maximum return on investment from those assets; and
• Creating and maintaining strong working relationships with the Indian companies that are participating in all of Oilex's international joint ventures.

From two permanent employees at the end of the 2005 financial year, Oilex is now a company with more than 52 permanent employees and growing. We have built an exceptionally talented technical, support and executive team with a significant depth of experience unparalleled for a company of our size.

Oilex Ltd was incorporated in Australia. Its operations are based out of five offices - our Perth head office, where geotechnical work, financial management and control are located; two in India focused on operations and government relations; and one in each in Muscat, Oman and Dili, Timor-Leste for field logistic, administration and finance support and government liaison. Currently Oilex's main country of operation for the purposes of AIM Rule 26 is India.

The Company is directing its efforts towards opportunities that have the potential to provide an exceptional return on investment. Our focus remains on searching for exploration and production assets in the prospective hydrocarbon basins of India , Australia - particularly in the Northwest Shelf and in the Timor Sea, and in the countries of Southeast and South Asia and near Middle East around the rim of the Indian Ocean. With eight permits/interests in prospective basins, Oilex has rapidly compiled a significant portfolio of oil and gas acreage that has a well-balanced mix of risk and reward.

Oilex now has interests in three field re-development and exploration projects in India; two exploration permits offshore Australia; one production sharing contract in the Joint Petroleum Development Area between Timor-Leste and Australia; one exploration and production sharing agreement onshore Oman and one production sharing contract onshore Sumatera Indonesia. Oilex is the operator of joint ventures comprising major Indian energy companies in all areas save for Indonesia. In Indonesia Oilex is non operator in a joint venture with an Indonesian company.