Raven Energy Limited (ASX:REL) signed a binding sale and purchase agreement to acquire Bombora Natural Energy Pty Ltd from Pancontinental Oil & Gas NL (ASX:PCL) on November 1, 2018. Raven Energy Limited will issue 295 million fully paid ordinary shares as consideration to Pancontinental Oil & Gas NL. This will comprise of 267.8 million shares within 5 business days of execution of the agreement and 27.19 million shares of Raven within sixty days of completion subject to shareholder approval. After completion of the deal, Raven Energy Limited's obligation to pay AUD 0.33 million cash consideration and AUD 15.5 million deferred consideration for acquisition of Gasfields LLC vide an agreement dated June 28, 2018 will be transferred to Bombora. Upon completion of the acquisition, Raven will appoint John Begg in the newly created consulting role as Business Development Adviser, California. Iain Smith, Raven's current Upstream. The transaction is approved by the shareholders of Raven Energy Limited in the extraordinary general meeting held on November 30, 2018. Iain Smith will be offered the position of Executive Director of Operations on the Board of the Raven Energy Limited. Completion of the acquisition shall take place within 5 business days of execution of the agreement.

Raven Energy Limited (ASX:REL) completed the acquisition of Bombora Natural Energy Pty Ltd from Pancontinental Oil & Gas NL (ASX:PCL) on November 30, 2018. As consideration, Raven Energy Limited will issue 295 million shares to Pancontinental Oil & Gas NL at the price of AUD 0.0018 per share which is equal to AUD 0.53 million.