Quarterly Report to Shareholders 30 September 2011

Oilex Ltd (“Oilex”, ASX, AIM: OEX) achieved significant milestones of drilling, completing and conducting an eight-stage fracture stimulation on the Cambay-76H well. A milling tool is currently stuck down-hole and mobilization to the well site of special tools and a workover rig to retrieve the milling tool is now in progress.

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