Finder Energy Holdings Limited (ASX:FDR) entered into an agreement to acquire Licence P2527 in North Sea from Talon Energy Ltd. (ASX:TPD) on April 26, 2022. Under the terms of the acquisition, Finder will acquire a 100% interest in P2527 in return for granting Talon a right to 12.5% of gross income received by Finder in relation to P2527 (for example, any cash received for farmout or divestment) which converts to a royalty of 3% of Finder's retained net share of produced petroleum during the production phase. These rights do not encumber any future farminee or purchaser of all or part of Finder's interest in P2527 so as not to impact any future transaction. There are no up front cash or share payments payable to Talon in relation to the Acquisition. The agreement is conditional upon obtaining the usual regulatory approvals.

Finder Energy Holdings Limited (ASX:FDR) completed the acquisition of Licence P2527 in North Sea from Talon Energy Ltd. (ASX:TPD) on June 30, 2022.