Exerpt from the Oilex article on the Fat Prophets website:

Major fund raising to boost exploration activity
Oilex has announced a major $67.5 million institutional capital raising to fund exploration and development programs focused on its projects in India and Oman during 2007. The scheduled programs funded by the capital raising include the drilling of up to 14 wells within five projects over the next 12 months. We believe exciting times lie ahead for Oilex shareholders, particularly against a background of strengthening oil prices.

"This major capital raising provides Oilex with the financial firepower to properly test its Cambay assets and ascertain a development timeframe."

Click here to download the full article (PDF, 383kb)