Australia's Top End Energy climbs to 6-month high on plans to acquire Kansas hydrogen project

Top End Energy

04/12/2024 01:06

** Shares of Top End Energy  TEE.AX  rise as much as 35% to
A$0.135, their highest levels since June 6
    ** Co says it is set to acquire American Co Serpentine
Energy, including its natural hydrogen project in Kansas state
    ** About 1,460,374 shares change hands, compared with the
30-day average volume of 56,181
    ** Co has raised A$6 mln ($3.88 mln), and the proceeds will
be used to expand the hydrogen project's lease holdings
    ** Top End Energy stock has fallen 35.5% this year, as of
last close
     
     
    ($1 = 1.5468 Australian dollars)

(Reporting by Nichiket Sunil in Bengaluru)
((Nichiket.Sunil@thomsonreuters.com))