Oilex upgrades reserves estimate

Company News

Oilex Ltd (ASX:OEX) has upgraded its reserves and contingent resources for “tight” reservoirs at its Cambay Field in India.

Following a nine month program of studies, the oil and gas explorer says reserves attributable to its 45 per cent stake equalled 248 billion cubic feet of natural gas, and 11 million barrels of condensate.

Managing Director Dr Bruce McCarthy says the company has renewed its focus on India and made significant progress in unlocking the potential of the Cambay Field.

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