Steven Larkins
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20 Dec 2013

ASX Announcement

Torrens to merge with Phoenix Oil & Gas

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Phoenix Oil and Gas Limited

The Phoenix business model is to acquire oil and gas assets with existing production, reserves that will be developed, and exploration potential. The focus is on oil and gas royalties, which have the benefit of a share of the profits without the obligation to fund capital expenditure. Phoenix has demonstrated the ability to acquire royalties that increase in value as projects begin production, are developed, and/or where exploration discoveries are made. Since incorporation in 2008, Phoenix has acquired interests in more than twenty permit areas, primarily in Australia. The portfolio of oil and gas assets provides income and cash flow (linked to domestic gas price and world oil price), additional income as projects are developed and potential for significant increase in value from exploration success.
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