News: DOR Oilex Signed A Binding Heads Of Agreement With Doriemus PLC

Jan 30 (Reuters) - Doriemus PLC (DOR) :

• SIGNED A BINDING HEADS OF AGREEMENT WITH DORIEMUS PLC
• BINDING HEADS OF AGREEMENT WITH DORIEMUS FOR PROPOSED SALE OF ALL OF ITS INTERESTS IN COOPER-EROMANGA BASIN TO DORIEMUS
• UNDER HOA DORIEMUS WILL ACQUIRE 100% OF ISSUED CAPITAL OF COERA LIMITED UNIT OF CO
• DORIEMUS PROPOSES TO APPOINT OILEX'S CHAIRMAN, BRAD LINGO AS NEW MANAGING DIRECTOR OF DORIEMUS
• LINGO TO STEP DOWN AS CHAIRMAN OF OILEX FOLLOWING APPOINTMENT OF A NEW OILEX CHAIRMAN
• AS CONSIDERATION FOR PROPOSED TRANSACTION, DORIEMUS WILL ISSUE 28.3 MILLION CHESS DEPOSITARY INTERESTS TO OILEX UPON COMPLETION
• UPON COMPLETION OF PROPOSED TRANSACTION, OILEX WILL NO LONGER HAVE ANY OIL AND GAS ASSET INTERESTS IN AUSTRALIA
• DORIEMUS INTENDS TO UNDERTAKE A CAPITAL RAISING AT A PRICE EXPECTED TO BE $0.035 PER CDI TO RAISE A MINIMUM OF $3.5 MILLION