Chinaâs Fosun, through its Roc Oil sub, has agreed to acquire a 50% stake in Buruâs 2,600 b/d Ungani oilfield (L20 + L21 licences) in the Canning Basin, WA, for A$64 MM.Â  Buru will retain 50% + operatorship. The deal is pending necessary approvals. Â   Roc will also earn a similar 50% stake in EP 391, 428 + 436 in the same area by funding A$20 MM towards up to 4 wells.Â  These include the Kurrajong + Ungani West prospects (target Ungani Dolomite), the Yakka Munga prospect and later in 2019 the Rafael prospect, DDGT1 rig. Of note, the Roc deals do not cover the Laurel unconventional gas accumulation within these blocks (of which the Yulleroo gasfield).
Chinaâs Fosun, through its Roc Oil sub, has agreed to acquire a 50% stake in Buruâs (->50% op.) 2600 b/d Ungani oilfield (L20 + L21 licences), for A$64 MM.  