Below is the link to the farm out Oilex announced today for the...

Below is the link to the farm out Oilex announced today for the Carnarvon block.

This is a good deal for Oilex because Sasol will fund 60% of the siesmic acquisition about to begin in the Carnarvon block, and obviously it indicates the prospectivity of the block is appreciated by others.

It does reduce Oilex's portion of the block from 20% to 14%, but I consider this a very good deal for Oilex, and probably not the last deal either.

Oilex seem to be doing all the right things and finding oil in all of their acreage (india, Oman and Indonesia), the only downer is the poor market response to this high level of successful activity at Oilex.

http://www.asx.com.au/asxpdf/20080812/pdf/31bntg457lrz7q.pdf