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OCEANIA

Oilex in hot water with Timor-Leste government

THE Timor-Leste government has Oilex set in its sights over the ASX-listed company's decision to seek termination of the PSC 06-103 permit in the Timor Sea, saying it is using speculation surrounding the treaty of Certain Maritime Agreements there unfairly.

James McGrath

The government took the step of issuing a press release to reassure potential investors that its rights were secure when investing in the Timor Sea. Oilex wrote to the Timor-Leste authority seeking to...

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