Oilex chairman extends expanded role for two months

Oilex announced on Tuesday that the expanded operational role for its chairman, Bradley Lingo, was being extended by a further two months to 31 March.

The AIM-traded firm said the expanded role, which was announced on 6 September for an initial term of six months, had focussed on the development and implementation of its Cooper-Eromanga Basin strategy.

“The extension reflects the continued ongoing support from Mr Lingo following the company's announcement dated 29 January regarding the proposed transaction with Doriemus,” the board said in its statement.

It confirmed that all other terms of the contract governing his expanded operational role remained the same as announced on 6 September.

At 0906 GMT, shares in Oilex were down 2.65% in London, at 0.17p.