The company will take a 50% stake in the block off the north-west cost of Madagascar.
Receiving government approval was the last condition required to complete the farm-in.
Sterling will remain the operator of the block.
Pura Vida will now be obliged to pay US$1.25 million in back costs and to fund the acquisition and processing of 2D and 3D seismic up to a maximum cost of US$15 million.
The
