Aug 14 (Reuters) - Strike Energy Ltd (STX) : STRIKE TO ACQUIRE...

Aug 14 (Reuters) - Strike Energy Ltd (STX) :

• STRIKE TO ACQUIRE TALON
• ENTERED INTO A BINDING SCHEME IMPLEMENTATION DEED WITH TALON ENERGY LIMITED
• TALON SHAREHOLDERS WILL RECEIVE 0.4828 NEW STRIKE SHARES FOR EACH TALON SHARE HELD
• IMPLIED OFFER PRICE OF A$0.212 FOR TALON'S PERTH BASIN BUSINESS ALONE
• TALON TO DEMERGE MONGOLIAN ASSET WITH POTENTIAL FOR SHAREHOLDERS TO RETAIN AN INTEREST IN ASSETS ALONG WITH A$850,000 CASH
• TALON'S BOARD OF DIRECTORS UNANIMOUSLY RECOMMEND PROPOSED TRANSACTION
• ON A PRO FORMA BASIS, STRIKE SHAREHOLDERS WILL OWN 89% AND TALON SHAREHOLDERS WILL OWN APPROXIMATELY 11% OF ALL ISSUED STRIKE
• COMBINED GROUP WILL HAVE CAPACITY TO GENERATE INITIAL ANNUALISED CASHFLOWS IN EXCESS OF A$82 MILLION FROM WALYERING GAS FIELD ALONE
• STRIKE HAS AGREED TO PROVIDE TALON WITH A A$6 MILLION INTERIM CONVERTIBLE FUNDING FACILITY