Dec 23 (Reuters) - Oilex Ltd OEX.AX :
* ENTERED BINDING TERM SHEET WITH BURGATE EXPLORATION & PRODUCTION TO ACQUIRE 100% PARTICIPATING INTEREST IN DOYLE-PEEL LICENCE (P2447)
* ENTERED INTO EXCLUSIVITY AGREEMENT WITH BURGATE, COMTRACK (UK), SIMWELL RESOURCES FOR POTENTIAL ACQUISITION OF 100% STAKE IN CASTLETOWN LICENCE