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Podcast: Share Talk LTD
Episode: Oilex Ltd (OEX.ASX.L) Execution of Cambay SPA - Joe Salomon, Managing Director Interview
Description:
Oilex Ltd (the Company) is pleased to announce that, further to recent announcements, the conditional binding sale and purchase agreement to acquire GSPC's 55% participating interest (PI) in the Cambay Production Sharing Contract (Cambay) (the Acquisition) has now been executed by both parties.
The ratification of the Acquisition by the Government of India is expected to occur in the coming months, which is the last outstanding condition to completion of the Acquisition Following completion of the previously announced equity raise, and shareholder approval provided on 8 June 2021, Oilex is currently securing a bank guarantee for the US$2.2 million consideration payable...