The purchase increases the company's coal seam methane rights in Queensland's ATP758P, 806P and 756(P)A and Tasmania's SEL 32-2003 from 93% to 100%, as well as a 35% interest in conventional oil and gas rights on the same Queensland permits.
It also buys back a 0.875% overriding royalty on future coal seam gas produced on the permits.
Arrow Energy will retain its 7% stake in ATP759P, where it is farming into up to 50% of the coal seam gas rights.
On completion of the farm-in, Arrow will hold a 57% interest and Pure will own the remaining 43%.
However, the coal seam gas overriding royalty agreement has been cancelled following the sale of OME to Pure.
ATP 759P is in the Bowen Basin immediately adjacent to Arrow's ATP 364P, which contains the Moranbah Gas Project.
