Australia's TMK Energy rises on Mongolia project consolidation deal with Talon

Talon Energy

11/10/2023 02:07

** Shares of TMK Energy  TMK.AX  rise as much as 9.1% to
A$0.012
    ** Oil and gas explorer says it executed binding heads of
agreement with peer firm Talon Energy  TPD.AX  to consolidate
100% ownership of Mongolia project to TMK 
    ** Total consideration for TPD's 33% earned interest in
project is issue of up to 1.1 bln shares and up to 550 mln
listed options 
    ** Shares of Talon Energy fall as much as 4.35% to A$0.220 
    ** TPD stock up 39.4% YTD, as of last close, while TMK down
26.7%

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com))