Based in South Australia, New Era is concentrating on opportunities in the Cooper and Eromanga basins and recently executed a term sheet to farm into 50 per cent positions in two onshore exploration blocks in the former.
The focus of the company moving forward will be on acquiring further onshore assets, specifically in the Cooper and Eromanga basins.
Indus intends for the non-binding term sheet to be converted into a formal binding agreement, subject to approvals, before it is presented to shareholders.
For more information visit the Indus Energy website.
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