ASX Announcement

7 July 2015

ASX: OEX

AIM: OEX

Further to the announcement of 3 July 2015, Oilex (ASX: OEX, AIM: OEX) ("Oilex", or the "Company") announces that the securities of the Company continue in voluntary suspension on the Australian Securities Exchange ("ASX") pending the release of an announcement regarding the proposed capital raising.

The suspension was granted by the ASX at the Company's request in accordance with the ASX Listing Rules, in order to allow a proposed capital raise to be finalised. The Company anticipates the suspension on the ASX will remain in place until the earlier of such time it makes an announcement to the market in relation to the outcome of the proposed capital raise, or the commencement of trading on 8 July 2015. The Company's ordinary shares will continue to trade on AIM during this period.

For and on behalf of Oilex Ltd

Chris Bath

Chief Financial Officer and Company Secretary

For further information, please contact the Company or its advisors listed below: