Blue Energy Limited announced that it has entered into a binding term sheet with Australian Oil and Gas Limited in relation to nine large exploration blocks in the Wiso Basin in the Northern Ter itory. The proposed farm-in agreement to be undertaken by a Blue Energy, an area approximately equivalent to the size of England. Key points: 111,887km2 (27.6 mil ion acres) in area with conventional and unconventional oil and gas potential over 9 contiguous blocks; Dominant basin position; 3 Stage farm-in agreement; 50% equity on completion of farm-in work program; Blue Energy to become operator at commencement of farm-in.