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.

TMK Energy Limited (ASX:TMK) entered into binding heads of agreement to acquire Gurvantes XXXV Coal Seam Gas Project in the South Gobi Basin from Talon Energy Ltd. (ASX:TPD) for AUD 12.1 million on October 11, 2023. consideration for the Acquisition comprises of up to 1,100,000,000 Shares to Talon and up to 550,000,000 TKMOB quoted Options (Consideration Options), in the same class as the Company?s currently quoted Options (ASX:TMKOB). The proposed transaction is subject to both TMK and Talon shareholders?

approval, with Talon?s board unanimously recommending Talon shareholders vote in favour of the transaction, which is expected to be sought in late November 2023. The completion of the transaction is expected to be in early December 2023.