Zeta Legal Proceedings Update
Oilex Ltd (Oilex or the Company) provides an update on the previously announced legal proceedings (announcement dated 13 November 2015 and 25 November 2015), commenced by Zeta Resources Limited (Zeta).
Oilex has today provided notice to the Court and Zeta of its intention to defend the legal proceedings and agreed a timetable with Zeta by which Oilex will file and serve its defence and cross claim by 16 December 2015.
The parties are presently engaged in discussions to explore options for a commercial resolution of the dispute, the subject of the legal proceedings. The parties have further agreed with the approval of the Court, not to take further steps in the legal proceedings until 1 March 2016 (other than filing and serving the defence and cross claim). Zeta Legal Proceedings Update