Buru Energy Ltd (ASX:BRU, OTC:BRNGF) has completed the divestment of its wholly owned subsidiary, 2H Resources Pty Ltd, to Koloma Australia Pty Ltd, following the satisfaction of all conditions under the Share Sale and Purchase Agreement (SSPA) dated July 10, 2025.
The transaction transfers full ownership of 2H Resources — including its interests in geologic hydrogen and helium exploration tenements—into Koloma’s control. This includes Petroleum Exploration Licence Applications (PELA) and Gas Storage Exploration Licence Applications (GSELA) in South Australia, Exploration Licences (EL) in Tasmania, and Special Prospecting Authorities (SPA) in Western Australia.
Operational control, financial obligations and work program commitments for 2H Resources are now Koloma’s responsibility, effective from July 1, 2025.
Meanwhile, Buru and Koloma are continuing to progress a separate Asset Sale and Purchase Agreement (ASPA) concerning the transfer of select graticular blocks in Western Australia’s Canning Basin. These tenements are considered non-core to Buru and are part of the company’s ongoing rationalisation of its Canning Basin interests.