Feb 26 (Reuters) - Longreach Oil Ltd LGO.AX :
* Binding term sheet to acquire starlogik LGO.AX
* Acquisition is conditional on lgo raising aud$8 million
* Term sheet to acquire the remaining 95% of starlogik ip llc
* Under deal, existing shareholders obtain 74% increase in aggregate indirect interest in starlogik from 5% to 8.3% without needing to invest further capital
* Source text for Eikon ID:nASX3jNTRp