merger details out, page-108

Agent, cant see the market giving any value to Potential Talon shares and I suspect many holders at going to dump them despite the 17m odd cash at bank. Value of Txn shares now .5 x SEA plus value of Talon (0?). Agree that price paid for EFS is 30% higher as Txn sh retain part of EFS in new entity.

My recollection at august EGM is that at that time there were then no lease demands concerning the demand to drill future wells.