re: Ann: Texon Petroleum Merger with Sundance... agent
Pg 3 of the 62 page doco =
Talon will be listed on the ASX and will hold:
· a 100% interest in all oil and gas assets of Texon other than its interest in
the EFS assets;
· the Prospect Generation Agreement with Wandoo Energy LLC; and
· cash retained after giving effect to required cash uses associated with the Merger.
So the cash texon currently holds will flow through to talon. the qu I then have is how much of the wells that are currently being drilled have to be paid by TXN.
eg TXN had about $17m at 30 September then they started 2 new wells. If TXN don't pay for any of them Talon will end up with say $15m odd after the merger costs
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