Oilex shares rise on approval of work programme in India
AIM-listed independent oil and gas exploration company Oilex has received approval from the regulatory authorities in India for its work programme and budget activities to the end of March.
AIM-listed independent oil and gas exploration company Oilex has received approval from the regulatory authorities in India for its work programme and budget activities to the end of March.
The programme includes one firm horizontal well and four wells in a contingent drilling campaign.
Acting Managing Director Ron Miller said: "The Cambay Joint Venture is expediting work on the field. We are confident that this high impact work programme will realise the value of the Cambay asset, and deliver near-term production and reserves to the company."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The share price rose 15.15% in opening trade.
NR
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Inheritance tax reforms: government urged to rethink curbs on rural reliefs
MPs want the government to delay changes to inheritance rax reliefs for farmers
-
‘I’m among the thousands of millionaires leaving the UK – the new tax rules don’t make sense ’
MoneyWeek spoke to a serial entrepreneur who is leaving the UK following the abolition of the non-dom tax status