Mari Petroleum Company Limited (KASE:MARI) signed heads of terms to acquire 20% working interest in Bannu West Block, KPK and FATA, 95% working interest in Block 28, Balochistan and 30% working interest in Kalchas Block, Balochistan & Punjab from Tullow Pakistan (Developments) Ltd. on July 19, 2017. The transaction is subject to approvals by the Boards of Mari Petroleum Company Limited and Tullow Pakistan (Developments) Ltd., execution of a binding sale and purchase agreement by the parties and approval of the Government of Pakistan in terms of respective petroleum concession agreements and Petroleum rules applicable to these blocks. Boards of directors of Mari Petroleum Company Limited approved the transaction in its meeting held on July 27, 2017. Mari Petroleum Company Limited (KASE:MARI) completed the acquisition of 20% working interest in Bannu West Block, KPK and FATA, 95% working interest in Block 28, Balochistan and 30% working interest in Kalchas Block, Balochistan & Punjab from Tullow Pakistan (Developments) Ltd. on July 30, 2018. The transaction has been approved by the government of Pakistan.