19 December 2008

AIM Market

London Stock Exchange
10 Paternoster Square
London EC4M 7LS

Dear Sirs,

Oilex Ltd ("Oilex") advises that it has sold its holding of 13.3 million shares
and 13.3 million options in Bow Energy Ltd ("Bow") through on-market and
private sales for total consideration of approximately $1.9 million. 

Yours sincerely,

Max D.J. Cozijn

Company Secretary

RFC Corporate Finance Ltd acts as Oilex's Nominated Adviser - contact Stuart
Laing +618 9480 2506.

END