Synergia Energy Ltd. (OIEXF)

[silverfox6663]

oilex capital raising


Oilex (ASX:OEX, LON:OEX) was granted a trading halt yesterday by the ASX pending details of a proposed capital raising, with its shares placed in pre-open.

Last week, the firm said it had started the production test shut-in period at its Cambay-77H well in India.

Upon completion, the instrumentation deployed downhole will be recovered and the data downloaded for analysis.

The test is focused on acquiring long term performance data essential for assessment of reservoir properties and will supplement surface data collected during flow-back.

The halt will remain in place until the opening of trade on Wednesday 26th November 2014, or earlier if an announcement is made to the market.