TXO partakes in JV and invests further in Grand Bahama Group

Oil firm TXO has agreed to take an initial 25 per cent equity interest in a new joint venture company, called Tasmania Oil and Gas, in partnership with Empire Energy, Alpha Prospects and Hill Street Investments.

Oil firm TXO has agreed to take an initial 25 per cent equity interest in a new joint venture company, called Tasmania Oil and Gas, in partnership with Empire Energy, Alpha Prospects and Hill Street Investments.

TXO paid $0.1m cash for the consideration in addition to agreeing to the novation and capitalisation of its existing convertible bond in Empire Energy in favour of Tasmania Oil and Gas.

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