Gulf Oil and Gas accountACCOUNT

Award of Block 56 in Oman to Oilex Consortium

Source: www.gulfoilandgas.com 3/31/2006, Location: Middle East

Oilex NL has advised that the Government of Oman has awarded block 56 to the consortium of Oilex (25% and Operator) and itís indian partners, Gas Authority of India Limited (25%), Videocon Industries Ltd (25%), Hindustan Petroleum Corporation Ltd (12.5%) and Bharat Petroleum Corporation Ltd (12.5%). The award was made subsequent to evaluation of offers made under the recent bidding round that closed on 1 January 2006.

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