PT Geo Energy Investama entered into an agreement to acquire 58.65% stake in PT Golden Eagle Energy Tbk (IDX:SMMT) from PT Mutiara Timur Pratama on July 26, 2023. PT Geo Energy Investama will pay $154.1 million as consideration for its stake. As of September 26, 2023 Geo Energy Resources Limited's shareholders approved the transaction.

The expected closing date of the transaction is October 31, 2023.