Sale of Bombora Natural Energy Pty Ltd

Source Press Release
Company Raven Energy LimitedBombora Natural Energy Pty LtdPancontinental Oil & Gas NL 
Tags Corporate Deals, Deals, Upstream Activities
Date November 01, 2018

RAVEN FURTHER ADVANCES INTERESTS IN CALIFORNIA VIA THE ACQUISITION OF BOMBORA NATURAL ENERGY PTY LTD

• Raven to expand its interests in the Sacramento Basin by securing 100% ownership of Bombora Natural Energy Pty Ltd (Bombora).

• Raven has signed a binding sale and purchase agreement with Pancontinental Oil & Gas NL to acquire its wholly owned subsidiary  Bombora Natural Energy Pty Ltd that holds a 10% working interest in the Dempsey Gas project, being the principal asset and leased interests in follow up exploration prospects in the Sacramento Basin, California (Dempsey Project).

Summary Raven Energy Limited (ASX: REL) (Raven or Company) is pleased to announce that it has executed a binding share sale and purchase agreement (SPA) with  Pancontinental Oil & Gas NL to acquire its wholly owned subsidiary,  Bombora Natural Energy Pty Ltd (Bombora). As a result of the Acquisition, Bombora Natural Energy will be a wholly owned subsidiary of the Company. Bombora in particular holds a 10% working interest in the Dempsey Gas Project and leased interests in associated follow up prospects, including the Anzus Prospect that are located in the Sacramento Basin, California.

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