Oilex reports progress on India re-fraccing

Oilex updated the market on its operations in India on Thursday, reporting that the workover rig arrived at the C-77H wellsite on 20 June.

The AIM-traded firm said it was now being rigged up, in preparation to pulling the completion string from the C-77H wellbore.

Civil works to prepare the wellsite for the ‘re-fraccing’ operations, meanwhile, had been completed.

“All major services and equipment have been secured for the hydraulic fraccing operation which is scheduled to commence mid-July,” the board said in its statement.

“The fraccing operation is anticipated to last seven days, and will be followed by flow-back and testing.

“We currently expect to be able to announce the results of the re-frac operation in August.”

At 1115 BST, shares in Oilex were up 2% at 0.16p.

Reporting by Josh White at Sharecast.com.