OIL Oilexco

 
TIDMOIL 
 
Oilexco Incorporated: Sale of Oilexco North Sea Ltd. Completed 
 
FOR:  OILEXCO INCORPORATED 
 
TSX VENTURE SYMBOL:  OIL 
 
May 21, 2009 
 
Oilexco Incorporated: Sale of Oilexco North Sea Completed 
 
CALGARY, ALBERTA--(Marketwire - May 21, 2009) - Oilexco Incorporated ("Oilexco" or "the Company") (TSX 
VENTURE:OIL) was advised by the Administrator for Oilexco North Sea Limited (ONSL) that the sale of ONSL, the 
discharge of the Administrative Order, and the implementation of the Company Voluntary Arrangement occurred at 
10:00 am GMT today. 
 
On January 7, 2009, Oilexco's wholly-owned subsidiary, Oilexco North Sea Limited ("ONSL"), was subject to an 
order from the UK court appointing Administrators. The assets held within ONSL comprised nearly all the assets 
held by the parent company, Oilexco Inc. On March 25, 2009, the Administrators announced that an agreement had 
been reached with an outside party to purchase ONSL. The Company is currently under a court order for 
protection under the Companies' Creditors Arrangement Act (Canada). 
 
About the Company 
 
Oilexco shares are listed for trading on the TSX Venture Exchange (TSX-V) under the symbol "OIL". 
 
Forward Looking Statements 
 
All statements included in this press release that address activities, events or developments that Oilexco 
expects, believes or anticipates will or may occur in the future are forward-looking statements. Such 
statements involve substantial known and/or unknown risks and uncertainties, some of which may be beyond 
Oilexco's control, including: the uncertainty of court proceedings under the Companies' Creditors Arrangement 
Act (Canada), the impact of general economic conditions in the areas in which Oilexco operates, civil unrest, 
industry conditions, changes in laws and regulations and changes in how they are interpreted and enforced, 
increased competition, the lack of availability of qualified personnel or management, fluctuations in commodity 
prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of 
regulatory authorities. As such, caution should be exercised by the reader wherever forward looking statements 
are made. On January 7, 2009, Oilexco's wholly-owned subsidiary, Oilexco North Sea Limited ("ONSL"), was 
subject to an order from the UK court appointing Administrators. The assets held within ONSL comprised nearly 
all the assets held by the parent company, Oilexco Inc. On March 25, 2009, the Administrators announced that an 
agreement had been reached with an outside party to purchase ONSL. The Company is currently under a court order 
for protection under the Companies' Creditors Arrangement Act (Canada). 
 
 
-30- 
 
FOR FURTHER INFORMATION PLEASE CONTACT: 
 
Oilexco Incorporated 
Arthur S. Millholland 
President 
(403) 262-5441 
 
OR 
 
Oilexco Incorporated 
Rob Elgie 
Manager Investor Relations 
(403) 262-5441 
 
INDUSTRY:  Energy and Utilities-Oil and Gas 
SUBJECT:   TMN 
 
 
 
 
OILEXCO INCORPORATED 
 

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