Energy Resources Ltd acquired remaining 25% interest in Onshore Carnarvon Basin of Western Australia from Buru Energy Limited (ASX:BRU) for AUD 5 million on August 14, 2023. The sale is of Buru?s 25% non-operated interests in Exploration Permit EP 510, and Application Areas L22-2 and L22-4 in joint venture with MinRes who will now assume 100% of the permit and application areas. Buru Energy will use the proceeds from the transaction to progress the execution of the Rafael phased development strategy. The sale is unconditional and is effective as of today?s date.

Energy Resources Ltd completed the acquisition of remaining 25% interest in Onshore Carnarvon Basin of Western Australia from Buru Energy Limited (ASX:BRU) on August 14, 2023.