Quarterly Report to Shareholders 30 September 2012

Oilex has taken significant steps forward in its strategy of transitioning from conventional oil and gas explorer to an early mover unconventional energy producer, focused on projects with world-class tight reservoir potential. Implementing this strategy by utilising proven technology developed for tight/shale and unconventional reservoirs in North America, the Company has completed its first stage objective of securing the services of additional key personnel to form a strong technical team to complement the existing expertise.

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