Australia's TMK Energy jumps on partnership with PetroChina unit

TMK Energy

11/08/2022 04:40

** Shares of TMK Energy Ltd  TMK.AX  jump as much as 50% to
A$0.015 - set to mark their best day since Sept. 27, 2021, if
gains hold
    ** Oil and gas explorer says it has signed a memorandum of
understanding with PetroChina  601857.SS  unit PetroChina Daqing
Tamsag (DATAMO)  urn:newsml:reuters.com:*:nL8N2ZN05H
    ** Co says MoU to advance the development of the Gurvantes
XXXV coal seam gas (CSG) project in Mongolia
    ** Says aim of partnership is to develop the project and the
Mongolian gas industry to provide a cleaner source of energy
within Mongolia
    ** Stock hits highest level since May 2
    ** TMK up 11.1% YTD, as of last close

 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))