Oilex Ltd (OEX.ASX.L) Execution of Cambay SPA - Joe Salomon, Managing Director Interview
Oilex's Managing Director, Mr Joe Salomon, said:
"Finalisation of this transaction marks an important milestone in re-establishing access to high potential gas production at the Cambay gas field and positions the Oilex, once more, as an active Indian energy company. Oilex remains one of the few international companies active in the sector in India where we see enormous potential both for gas projects as well as renewable energy and carbon abatement projects. During the next few months, we will determine the Company's optimal participation level in the project and re-commence operational activities. Over the past few years, we have continued to review additional projects while also continuing to progress our UK assets. As a result, from this stronger platform we see opportunities to build on Oilex's current project inventory. I would like to take this opportunity to thank our staff and stakeholders who have maintained support for the Company as it has navigated these challenges."