- The proposed demerger of Talon Petroleum Ltd ("Talon") * and the merger of Texon Petroleum with Sundance Energy Australia Limited provides for Texon shareholders:
- Shareholders will have continued exposure to Texon's EFS assets through a company that has the financial resources to fund an accelerated development program
- Significantly enhanced basin and opportunity diversity
- Significantly increased scale, activity and production
- Exploration and appraisal to unlock the value embedded in the Company's non EFS assets
TALON - EXPERIENCED MANAGEMENT
- Clifford S. Foss Jrto lead Talon Petroleum as CEO and President
- 40 years of successful exploratory, production and monetization experience in the Texas Gulf Coast area with a wide knowledge of the key players in the industry and the resulting understanding of the ingredients for commercial success.
- Petrohawk - Senior Vice President Exploration - 2006-2008
- KCS Resources - Senior Vice President Exploration - 2000-2006
- Mr Foss has been involved in the exploration, production and monetization of over $3.5 billion of producing assets since his early days with the Cockrell Oil Corporation and later with KCS Resources and Petrohawk Energy.
- The entire Texon team will transfer across to Talon upon completion of the demerger.
* Talon is the name currently being used by the Company to refer to the group of demerged non-Eagle Ford Texon subsidiaries and assets
View the full presentation at the link below:
About Texon Petroleum Ltd:
Texon Petroleum Limited's (ASX:TXN.AX - News) goal is to find commercially producible oil and gas by drilling 3D seismic controlled high equity prospects which have targets analogous to adjacent producing wells on established oil and gas producing trends in Texas.
Texon Petroleum Ltd T: +61-7-3211-1122 F: +61-7-3211-0133 E: email@example.com WWW: www.texonpetroleum.com.au
Texon Petroleum Ltd
Copyright (C) 2012 ABN Newswire. All rights reserved.