TPD - latest Research

Talon have now published the Euroz initiation of coverage on their website. You can find it, and the MST Access, and the BSCP coverage here https://www.talonenergy.com.au/investors/research/

Quick summary is as follows:-

		MST	BSCP	Euroz	PAC/TMK		High	Low
1	Date	7/03/2023	5/06/2023	13/06/2023	11/05/2023		13/06/2023	13/06/2023
2
3	Walyering	$0.18	$0.18	$0.20			$0.20	$0.18
4	Gurvantes	$0.05	$0.04	$0.06	$0.17		$0.17	$0.04
5		$0.23	$0.22	$0.26			$0.37	$0.22
6
7	Exploration	$0.13	$0.22	$0.10			$0.22	$0.10
8
9	TOTAL	$0.35	$0.44	$0.37			$0.59	$0.32

Given the JV nature of TPD's 33% stake in the Gurvantes project, and that Euroz, BSCP, and MST all use a TMK lookthrough in their TPD models, it is appropriate to also include the recent TMK report from PAC Partners, see attached:-

TMK PAC Partners.pdf

The PAC Partners analyst was recently interviewed and you can catch it here, it's well worth a listen IMO:-

https://**promotion blocked**/energy/pac-partners-believes-theres-plenty-of-upside-to-tmk-energy-and-heres-why/

With Walyering almost into production and Gurvantes about to bring to gas to the surface, it is a very exciting time for TPD. JMO. GLTAH