SINGAPORE (Yosefardi) – Interra Resources Limited, through its unit Goldwater Indonesia, and the sellers have agreed to extend the proposed acquisition over PT Benakat Oil, PT Indelberg Indonesia, and PT Bintang Sukses Nasional (called as Benakat Barat KSO) to July 2, 2014.
As stated in early announcement, the completion of the proposed acquisition is conditional upon satisfaction or relevant waiver by Goldwater or the sellers of certain conditions by 2 June 2014.
The consideration payable by Goldwater for the sale shares is US$78.5 million. The company wishes to expand its current portfolio of oil and gas assets in Indonesia through the proposed acquisition.