Amendment to T2 Capital Raising Conditions

Oilex Ltd (the Company) is pleased to advise that it has agreed with subscribers to amend the Tranche 2 conditions pursuant to the subscription agreements for the capital raising announced on 17 December 2017.
The completion of the Tranche 2 of the capital raising is subject to the successful extension of the Cambay PSC by the Government of India for a further ten years on or before 31 March 2018. The parties have today agreed to extend this date to 30 April 2018.
Tranche 1 issue of the capital raising was completed on 29 January 2018.
A formal response on the application for the Cambay PSC extension is anticipated by June 2018 although the Company believes that response may be received sooner.

Amendment to T2 Capital Raising Conditions