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.

PT Geo Energy Investama completed the acquisition of 58.65% stake in PT Golden Eagle Energy Tbk (IDX:SMMT) from PT Mutiara Timur Pratama on October 18, 2023. Soon Keong Cheng of Bdo Advisory Pte Ltd. acted as financial due diligence provider to PT Geo Energy Investama.