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AIM WINNERS & LOSERS: Oilex hails milestone with Cambay resolution


AIM WINNERS & LOSERS: Oilex hails milestone with Cambay resolution
Thu, 1st Apr 2021 10:34
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.
AIM - WINNERS
Oilex Ltd, up 52% at 0.25 pence, 12-month range 0.06p-0.25p. The Australian oil & gas exploration and production company says GSPC has provided notification that it has approved the sale of its 55% participating interest in the Cambay PSC to Oilex for USD2.2 million. The transaction has also received the approval of the state government of Gujarat and following completion, Oilex will hold a 100% participating interest in the Cambay PSC. We are pleased that Oilex and GSPC have been able to work together to agree this outcome and in doing so a major milestone has been achieved by the company in the face of many challenges. The long-awaited resolution provides the company with a pathway to evaluate the significant gas resource potential identified at Cambay, s ....

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