Sept 27 (Reuters) - Oilex Ltd OEX.AX :
* ACQUISITION OF MAJOR COOPER-EROMANGA ACREAGE POSITION
* ENTERS BINDING TERM SHEET WITH SENEX AND SOME RELATED ENTITIES TO BUY SENEX'S INTEREST IN 27 PETROLEUM RETENTION LICENSES
* PETROLEUM RETENTION LICENSES IN NORTHERN OIL AND WEST GAS FAIRWAY IS IN COOPER-EROMANGA BASINS IN SOUTH AUSTRALIA
* ANTICIPATES COMPLETION OF ACQUISITION BY END OF CALENDAR YEAR 2019
* NORTHERN PRLS ALSO INCLUDE A 100% INTEREST IN PANING TIGHT GAS DISCOVERY
* TOTAL ANNUAL AMOUNT OF NORTHERN FAIRWAY PRL RENEWAL FEES IS APPROXIMATELY $1 MILLION.
* NOTES NORTHERN FAIRWAY PRLS ARE CURRENTLY SUSPENDED BY SOUTH AUSTRALIAN GOVERNMENT, SUSPENDING ANNUAL LICENSE FEES AND WORK OBLIGATIONS
* INTENDS TO CONTINUE THIS SUSPENSION FOR A PERIOD
* COMPANY REMAINS COMMITTED TO UNLOCKING POTENTIAL OF ITS CAMBAY PROJECT IN INDIA