Oilex sells Cambay stake

OILEX has sold a 10% participating interest in the Cambay production sharing contract incorporating its tight hydrocarbon project in Gujarat, India to Magna Energy for $US4 million ($A4.35 million).

Oilex sells Cambay stake Oilex sells Cambay stake Oilex sells Cambay stake Oilex sells Cambay stake Oilex sells Cambay stake

Magna, a UK-based privately financed investment vehicle, also has an option to buy another 5% participating interest for $2 million.

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