Buru Energy Limited (ASX: BRU) will assume 100 per cent equity in three key Canning Basin exploration permits. The company reached an agreement with Roc Oil (Canning) Pty Limited to withdraw its 50 per cent interest in the farm-in permits at Canning Basin.
- Roc to withdraw from permits from 31 December 2019.
- Roc to retain 50 per cent interest in the producing conventional Ungani Oilfield.
- After approvals, the company would assume the interests in farm-in permits.
By 1:54 PM AEST, BRU was trading at $0.175, up by 2.9 per cent from the previous close.
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