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Ocean Guardian Resumes Drilling for Oilexco.

Canadian Corporate News,  August, 2007  

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CALGARY, ALBERTA, Aug 21, 2007 (CCNMatthews via COMTEX) -- Oilexco Incorporated (TSX:OIL) (LSE:OIL) ("Oilexco" or "the Company") and its wholly owned subsidiary, Oilexco North Sea Limited, reports that the semi-submersible rig Ocean Guardian, which is under contract to the Company from Diamond Offshore Drilling UK Limited, has resumed appraisal drilling on the 100% owned Shelley oil accumulation on Blocks 22/2b and 22/3a.

The vessel suspended drilling last week when an electrical fire occurred in the engine room. There were no injuries or environmental damage ...

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