Quarterly Report to Shareholders 31 March 2013

Oilex continues its transition to an unconventional energy producer, focused on projects where the company has first mover advantage to assets with significant tight reservoir potential. Subsequent to the reporting period, regulatory approvals for the Cambay Field Work Programme and Budget to the end of March 2014 were received. Work has commenced on tendering activities associated with long lead items and the drilling rig for the firm well, Cambay-77.

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