Watson, Farley & Williams, a leading international law firm, is pleased to announce that it recently advised Oilex Ltd on its placing to raise £6m at a price of 20 pence per share.
The net proceeds of the Placing will be applied primarily to further drilling on Oilex’s Cambay Production Sharing Contract “tight” Eocene reservoirs in Gujarat, India, and for working capital. This drilling will be in addition to Oilex’s first proof-of-concept horizontal well on the Cambay Eocene reservoirs planned for Q1 2011.
Ambrian Partners Limited acted as broker to the Placing.
Jan Mellmann, Head of the International Corporate Group, led the team for Watson, Farley & Williams and was assisted by solicitor Ravinder Sandhu.
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