West Perth-based oil and gas explorer GulfX Ltd will acquire South Australia-focused Syngas Energy Ltd in a scrip bid of 112 million shares, worth around $12.3 million, the company has announced.

West Perth-based oil and gas explorer GulfX Ltd will acquire South Australia-focused Syngas Energy Ltd in a scrip bid of 112 million shares, worth around $12.3 million, the company has announced.