Talon Energy talks deal with TMK for Gurvantes project
–News Direct–
Talon Energy Ltd (ASX:TPD) managing director Colby Hauser tells Proactive the company and TMK Energy Ltd have agreed to consolidate the ownership of the Gurvantes XXXV coal seam gas project in Mongolia, which will see TMK acquire Talon's 33% earned interest in the project. Both parties have executed a binding heads of agreement for the transaction which has been described as a logical transaction and compelling opportunity to create shareholder value. The gross consideration for Talon's earned rights will involve up to 1.10 billion fully-paid ordinary shares in TMK and up to 550 million listed options in TMK, which will be distributed to Talon shareholders following completion of the transaction.
This consolidation is a logical transaction and compelling oppor...