May 27 (Reuters) - Oilex Ltd OEX.AX :
* OILEX LTD - SALE OF COOPER EROMANGA BASIN ASSETS
* OILEX LTD - AS CONSIDERATION FOR PROPOSED TRANSACTION, ARMOUR WILL ISSUE UP TO 34.5 MILLION ARMOUR SHARES TO OILEX
* OILEX - SIGNED CONDITIONAL BINDING HEADS OF AGREEMENT WITH ARMOUR ENERGY FOR PROPOSED SALE OF INTERESTS IN COOPER-EROMANGA BASIN TO ARMOUR