viewOilex Ltd

Oilex bids to take all of Cambay field

The AIM quoted gas junior's state-owned partner is selling out of the Cambay field, and it has submitted a bid.

money dollars
Oilex has bid for the 55% of Cambay it doesn't already own

Oilex Ltd (LON:OEX) revealed it has made an offer for the 55% stake in the Cambay field that it doesn’t already own.

The India focussed oil and gas junior’s 45% stake in Cambay is its primary asset, and state-backed partner Gujarat State Petroleum Corporation Limited (GSPC) is selling its interest in the project through a competitive process.

Whilst Oilex has submitted an offer for the 55% it also noted in a short stock market statement that it has a pre-emption right which would give it a further opportunity to pick up the asset should a third-party out-bid the company.

The company added: “Pursuant to the tender process, Oilex will consider its strategic options for Cambay in order to realise value for shareholders.  The company will continue to update the market on any material developments.”

Quick facts: Oilex Ltd

Price: 0.002 AUD

Market: ASX
Market Cap: $8.24 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


FenixOro Gold continues aggressive drill program at their Abriaqui Project...

FenixOro Gold (CSE: FENX-OTCQB: FDVXF) CEO John Carlesso joined Steve Darling from Proactive to bring details about their drilling program that is ongoing at their gold silver and copper project in Colombia. That project is called Abriaqui and sits along a very mineralized belt. Carlesso...

in 2 hours, 24 minutes

2 min read