26 November 2015

Oilex Ltd

ASX Trading Halt

Oilex Ltd (ASX: OEX, AIM: OEX) wishes to advise that its shares have been placed in a trading halt on the Australian Securities Exchange ("ASX") pending the release of an announcement in relation to the appointment of a new director to satisfy its obligations under the Australian Corporations Act. Oilex shares will continue to trade on AIM during this period.

The below text was released on the ASX regarding the trading halt:

26 November 2015

Ms Frieda Orr
Australian Securities Exchange Limited
Level 40, Central Park
152-158 St George's Terrace
PERTH WA 6000

By email: tradinghaltsperth@asx.com.au

Trading halt request

Oilex Ltd (ASX: OEX, AIM: OEX) (Oilex) requests a trading halt in the quotation of its ordinary shares effective immediately.

Pursuant to ASX Listing Rule 17.1, Oilex provides the following information:

·      the trading halt is requested pending release of an announcement concerning the appointment of a new director to satisfy its obligations under the Corporations Act;

·      Oilex requests the trading halt remain in place until the earlier of such time as it is in a position to make an announcement in relation to the above matter and commencement of trading on Monday 30 November 2015; and

·      Oilex is not aware of any reason why the trading halt should not be granted, or of any other information available at this stage that is necessary to inform the market or the ASX about the trading halt.

Yours faithfully

Chris Bath

Chief Financial Officer and Company Secretary

For further information, please contact: