Buru Energy Completes Sale of 50% of Ungani Oil Field to Roc Oil

Source: www.gulfoilandgas.com 9/26/2018, Location: Not categorized

On 21 May 2018, Buru Energy completed a transaction to sell 50% of the Ungani oilfield (production licences L20 and L21) to Roc Oil (Canning) Pty Limited. Roc Oil is an oil focused, wholly owned subsidiary of Fosun International, listed on the Hong Kong Stock Exchange.

Under the terms of the agreement Buru received $13 million of the purchase price immediately with the remaining $51 million of the purchase price payable upon the Department of Mines, Industry Regulation and Safety (DMIRS) approval and registration of the Ungani production licence transfers. This registration process is now complete and the final payment has been received by Buru.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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