Raven Energy Limited (ASX:REL) acquired remaining 40% stake in Gas Fields LLC from Bombora Natural Energy Pty Ltd for AUD 16.8 million on June 28, 2018. Under the terms of consideration, Raven Energy paid to Bombora within fifteen business days of the execution of this agreement a sum of AUD 0.03 million and a sum of AUD 0.28 million payable within seven business days of the satisfaction of the cash consideration condition. The cash consideration condition means Raven raising by debt or equity at least AUD 1 million. Raven Energy also issued share consideration of 555.56 million ordinary fully paid shares in the capital of Raven and the issue of share consideration is required within fourteen days of the satisfaction of the share consideration condition. Bombora has agreed with Raven that it will treat the share consideration as being restricted securities within the meaning of the ASX listing rule for a period of twelve months from the date of the issue. In addition to the cash and share components of the transaction (i) Bombora will also receive the sum of AUD 0.5 million payable to Bombora upon the achievement of Tulainyo Milestone, which is when the Tulainyo Joint Venture determines that the flow of gas to the surface, as part of the Tulainyo Project, is economic to connect into a gas trunkline (ii) the sum of AUD 5 million payable to Bombora upon the achievement of Tulainyo Milestone which is achieved when, based on the SPE PRMS standard it is determined by a suitably qualified expert that the Tulainyo Project contains a Reserve of at least 500 billion cubic feet of gas gross to the project (iii) the sum of AUD 10 million payable to Bombora on the achievement of Tulainyo Milestone which is based on the SPE PRMS standard it is determined by a suitably qualified expert that the Tulainyo Project contains a Reserve of at least one trillion cubic feet of gas gross to the project, all achieved within 3 years. Raven Energy Limited (ASX:REL) completed the acquisition of remaining 40% stake in Gas Fields LLC from Bombora Natural Energy Pty Ltd on June 28, 2018.