QUESTE COMMUNICATIONS LIMITED — Major Shareholding Notification 2005

Mar 31, 2005

Form 603 Corporations Act Section 671B Notice of initial substantial holder

To Company Name/Scheme	OILEX NL (OEX)
ABN	50 078 652 632

1. Details of substantial holders(1)

Name		ACN / ABN
CENTRAL EXCHANGE LIMITED	(CXL)	ABN 77 000 742 843
QUESTE COMMUNICATIONS LIMITED	(QUE)	ABN 58 081 688 164
FAROOQ KHAN	(F KHAN)
ISLAND AUSTRALIA PTY LTD	(ISLAND)	A.C.N. 073 447 300
SKIN-PLEX LABORATORIES PTY LTD	(SKIN-PLEX)	A.C.N. 009 424 560
THE ESSENTIAL EARTH PTY LTD		(ESSENTIAL) A.C.N. 009 029 305

The holders became substantial holders on 30 MARCH 2005

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate(2) had a relevant interest(3) in on the date the substantial holder became a substantial holder are as follows:

Number of securitiesClass of securities $^{(4)}$		Persons' votes (5)	Voting power (6)
Ordinary Shares	3,159,668	3,159,668	6.447% (A)

$(A)$ Based on OEX total issued share capital being 49,006,285 shares (45,994,839 listed and 3,011,446 escrowed)

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number ofsecurities
		Ordinary Shares
CXL	Legal and beneficial holder of shares acquired on market on ASX
QUE	Taken under section 608(3)(b) of the Corporations Act to have arelevant interest in securities in which CXL has a relevant interest byreason of having control of CXL
F KHAN		3,159,668
ISLAND	Taken under section 608(3)(a) of the Corporations Act to have arelevant interest in securities in which QUE has a relevant interest by
SKIN-PLEX	reason of having voting power above 20% in QUE
ESSENTIAL

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered asholder (8)	Class and number ofsecurities
			Ordinary Shares:
All the parties named in $(1)$	CXL	CXL	3,159,668

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the 4 months prior to the day that the substantial holder became a substantial holder became a substantial holder is as fo

Holder of relevant interest	Date of acquisition (Disposal)	Consideration (9)		Class and numberof securities
		Cash	Non-cash	OrdinaryShares
All the parties named in (1)	16-Feb-05	$27,148.50		100,000
	16-Feb-05	$31,322.53		117,300
	17-Feb-05	$95,646.19		353,080
	18-Feb-05	$218,678.48		807,303
	21-Feb-05	$42,128.57	÷	156,000
	23-Feb-05 (Disposal)	( $28,716.18)		(100,000)
	23-Feb-05 (Disposal)	($14, 156.50)	$\ddot{ }$	(50,000)
	23-Feb-05 (Disposal)	( $43,012.12)		(150,000)
	23-Feb-05	$27,089.10		100,000
	23-Feb-05 (Disposal)	( $57,471.15)		(203,960)
	25-Feb-05	$10,818.85		39,938
	28-Feb-05 (Disposal)	( $56, 686.50)		(200,000)
	7-Mar-05 (Disposal)	($151,661.25)		(500,000)
	8-Mar-05 (Disposal)	( $52,663.16)	÷	(173, 621)
	22-Mar-05	$28,092.40		100,000
	23-Mar-05	$373.07		1,328
	24-Mar-05	$15,450.82	$\overline{\phantom{a}}$	55,000
	29-Mar-05	$402,628.14		1,433,478
	30-Mar-05	$186,342.41	$\overline{\phantom{a}}$	665,800
	31-Mar-05	$60,820.55	$\overline{\phantom{a}}$	216,700
	1-Apr-05	$109,809.33		391,322

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
QUE and CXL	QUE is taken under section 608(3)(b) of the Corporations Act to have a relevantinterest in securities in which CXL has a relevant interest by reason of having controlof CXL
QUE and F KHAN, ISLAND, SKIN-PLEX and ESSENTIAL	F KHAN, ISLAND, SKIN-PLEX and ESSENTIAL are taken section 608(3)(a) of theCorporations Act to have a relevant interest in securities in which QUE has a relevantinterest by reason of having voting power above 20% in QUE
F KHAN and ISLAND, SKIN-PLEXand ESSENTIAL	By virtue of F KHAN controlling each of ISLAND, SKIN-PLEX and ESSENTIAL

7. Addresses

The addresses of nersons named in this form are as follows:

Name	Address
CXL	Level 14, The Forrest Centre, 221 St Georges Terrace, Perth, Western Australia 6000
QUE	Level 14, The Forrest Centre, 221 St Georges Terrace, Perth, Western Australia 6000
F KHAN	Level 14, The Forrest Centre, 221 St Georges Terrace, Perth, Western Australia 6000
ISLAND	C/- Attewells, Ground Floor, 83 Havelock Street, West Perth, Western Australia 6005
C/- Attewells, Ground Floor, 83 Havelock Street, West Perth, Western Australia 6005SKIN-PLEX
ESSENTIAL	C/- Attewells, Ground Floor, 83 Havelock Street, West Perth, Western Australia 6005

Signature

sign here	VICTOR HO	date	1 April 2005
print name		capacity	Director & Secretary of CXL
sign here	VICTOR HO	date	1 April 2005
print name		capacity	Secretary of QUE
sign hereprint name	FAROOQ KHAN	datecapacity	1 April 2005Personally and as Director of ISLAND, SKIN-PLEXand ESSENTIAL

DIRECTIONS

• $(1)$ If there are a number of substantial holders with similar or related relevant interests (eg a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form.
• See the definition of "associate" in section 9 of the Corporations Act. $(2)$
• $(3)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act.
• $(4)$ The voting shares of a company constitute one class unless divided into separate classes.
• The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an $(5)$ associate has a relevant interest in.
• $(6)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• $(7)$ Include details of:
  • any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy $(a)$ of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
  • any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or $(b)$ disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act.

• $(8)$ If the substantial holder is unable to determine the identity of the person (eq if the relevant interest arises because of an option) write "unknown".
• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired $(9)$ has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.