News: AJQ Oilex Enters Into A Conditional Binding Share Purchase Agreement With Armour Energy...

June 15 (Reuters) -

• OILEX LTD- ENTERED INTO A CONDITIONAL BINDING SHARE PURCHASE AGREEMENT WITH ARMOUR ENERGY LIMITED
• OILEX LTD- AGREEMENT FOR PROPOSED SALE OF ALL OF ITS INTERESTS IN COOPER-EROMANGA BASIN
• OILEX - UNDER DEAL, ARMOUR WILL ACQUIRE 100% OF ISSUED CAPITAL OF COERA LTD
• OILEX LTD - AT COMPLETION ARMOUR WILL ISSUE UP TO 34.5 MILLION ARMOUR SHARES TO OILEX
• OILEX LTD- ASSUMING COMPLETION OF PROPOSED TRANSACTION, OILEX WILL NO LONGER HAVE ANY OIL AND GAS ASSET INTERESTS IN AUSTRALIA
• OILEX - AT COMPLETION OF PROPOSED TRANSACTION, ARMOUR WILL PAY REIMBURSE OILEX A$125,000 FOR PAST COSTS INCURRED