The Australia-listed company entered into two transactions to acquire an indirect 90% interest in EP457 and EP458 via the takeover of Gujarat NRE Oil for a total consideration of A$36 million (US$37.3 million) cash.
Under the deal, Buru also has the right to a 50% stake in a permit to be issued to Backreef Oil for application area 5/07-8 in the northern part of the basin, for an additional cost of A$3.5
