Inactive Instrument

Talon Energy Ltd.

Equities

TPD

AU000000TPD5

Talon Energy details proposed acquisition by Strike Energy

August 15, 2023 at 01:16 pm EDT

(via NewsDirect)

Talon Energy Ltd (ASX:TPD) CEO Colby tells Proactive the company has formalised a binding scheme implementation deed with Strike Energy Ltd (ASX:STX), a strategic move that will see Strike acquire all issued shares of Talon by the way of a scheme of arrangement.

On implementing the scheme, Talon shareholders are set to receive 0.4828 new Strike shares for every Talon share held as of the record date. In parallel, Talon has also initiated exploratory discussions centred on spinning out its 33% interest in the Gurvantes XXXV Project in Mongolia.

Hauser said the company was pleased to be entering into this scheme process with Strike Energy.

“Upon successful implementation of the scheme Talon shareholders will benefit from receiving an attractive premium for their shares and may also realise additional value from continued exposure to the Gurvantes development in Mongolia should the Mongolian demerger complete.

“Talon shareholders will benefit from becoming shareholders in the combined Strike Energy, which is expected to have a strong cashflow profile with a number of medium

Contact Details

Proactive Investors

Jonathan Jackson

+61 413 713 744

jonathan@proactiveinvestors.com

Latest news about Talon Energy Ltd.

Talon Energy Shareholders Granted Strike Energy Shares Following Acquisition Completion	Dec. 27	MT
TMK Energy Completes Distribution of Shares to Talon Energy Shareholders	Dec. 25	MT
TMK Energy Limited completed the acquisition of Gurvantes XXXV Coal Seam Gas Project in the South Gobi Basin from Talon Energy Ltd..	Dec. 21	CI
Strike Energy Completes Acquisition of Talon Energy	Dec. 15	MT
Strike Energy Limited completed the acquisition of Talon Energy Ltd..	Dec. 13	CI
TMK Energy, Talon Energy Agree to Consolidate Ownership of Mongolian Coal Seam Gas Project	23-10-11	MT
TMK Energy Limited entered into binding heads of agreement to acquire Gurvantes XXXV Coal Seam Gas Project in the South Gobi Basin from Talon Energy Ltd. for AUD 12.1 million.	23-10-10	CI
Talon Energy Begins Gas Sales at Walyering Field	23-10-09	MT
Talon Energy, Strike Energy Start Export of Walyering JV Commissioning Gas	23-09-25	MT
Talon Energy Ltd. Reports Earnings Results for the Half Year Ended June 30, 2023	23-09-08	CI
TMK Energy Signs Joint Exploration Deal for Gurvantes XXXV Project	23-08-29	MT
TMK Energy Achieves Gas Flow from All Three Pilot Wells at Gurvantes XXXV Project in Mongolia; Shares Decline 7%	23-08-09	MT
Strike Energy Limited made an unsolicited confidential, non-binding indicative proposal to acquire Talon Energy Ltd..	23-07-24	CI
TMK Energy Begins Production Testing at Gurvantes XXXV Project; Shares Jump 15%	23-07-19	MT
TMK Energy Begins Final Commissioning of Gurvantes XXXV Project Wells	23-07-13	MT
Talon Energy Ltd. Announces Executive Changes	23-07-02	CI
Strike Energy Advances Development of Walyering Gas Field	23-06-18	MT
TMK Energy Completes Drilling at Lucky Fox-3 Well in Mongolia	23-05-30	MT
TMK Energy Begins Drilling at Lucky Fox-3 Well in Mongolia; Shares Jump 7%	23-05-19	MT
Talon Energy Secures Path to Market of Walyering Condensate Production	23-05-17	MT
TMK Energy Begins Drilling Lucky Fox–2 Well in Mongolia	23-05-05	MT
TMK Energy Begins Drilling at Lucky Fox-1 Well in Mongolia; Shares Rise 6%	23-04-12	MT
Talon Petroleum Limited Appoints Gregory Thomas Columbus as Director	23-04-10	CI
Talon Energy Raises AU$2.3 Million from Share Purchase Plan	23-04-06	MT
Talon Energy Appoints Independent Non-executive Chairman	23-04-03	MT

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Company Profile

Talon Energy Ltd is an Australia-based oil and gas explorer. The Company is primarily engaged in the exploration and evaluation of oil and gas projects. The Companyâs portfolio of assets is focused on the Perth Basin assets, Western Australia. The Companyâs projects include Walyering, Condor, L7, EP 437, and EP 447. The Company holds a 45% non-operated participating interest in EP447, which holds the Walyering Gasfield. The Company has a 100% interest in the area covering the Condor Structure located on EP 494 and SPA-0081 (Condor Prospect) in the onshore Perth Basin. Exploration Permit EP437 is located due north of the Dongara gasfield and contains sub-commercial hydrocarbon accumulations at Wye and Dunnart. It also has a 45% interest in L23, which holds the Walyering Gasfield.

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