Oilex Ltd is pleased to provide an update on the preparations for drilling Cambay-77H in its Cambay Tight Hydrocarbon Project. As indicated previously, the full suite of tender packages for all equipment, materials and services required for Cambay-77H have been issued and all the bid documents have been received from prospective bidders. Joint Venture representatives have completed technical evaluation of the following critical items:

◾ 4 ½ inch completion tubulars ◾ Drill Rig and Associated Services

Of these critical items, the commercial evaluation is now complete and approved by the Joint Venture for the 4 ½ inch completion tubulars. This critical item has been ordered with an expected delivery to the site during December 2013. Availability of these tubulars is crucial for compliance with the recommendations of the independent engineering review of Cambay-76H, announced during October 2012.

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