Business Description:
Oilex Limited (OEX) is an Australian-based oil and gas exploration company with projects in Australia, India and Indonesia.

Strategy Analysis:
The Company is directing its efforts towards opportunities that have the potential to provide an exceptional return on investment. The focus remains on searching for exploration and production assets in the prospective hydrocarbon basins of India, Australia - particularly in the Northwest Shelf and in the Timor Sea, the countries of Southeast and South Asia and near the Middle East around the rim of the Indian Ocean. Location criteria are based on proximity to existing infrastructure to expedite production, with the company hoping to maintain a material equity position using known producing basins to limit exploration risk. There are eight permits/interests in prospective basins, and the company continues to compile a portfolio of oil and gas acreage that has a well-balanced mix of risk and reward. OEX retains cash resources of approximately $67 million that will be applied to a wide range of exploration and development activities over the short term future, aimed at adding significant value for the benefit of all stakeholders.