Oilex has advised that the sale of its 40% participating interest in the Bhandut PSC has now completed following the receipt of US$290,000 from the buyer. An additional payment of US$28,000 is expected for final cash calls related to Oilex s interest in the Bhandut PSC.
Oilex has announced that all necessary approvals from the Government of India for the sale of its Participating Interest in the Bhandut PSC have now been completed.