Top End Energy Limited has completed the acquisition of acreage in the Northern Territory.

Top End Energy Limited (ASX: TEE) acquired Northern Territory acreage from wholly owned subsidiaries of Hancock Prospecting Limited. The initial announcement of this transaction was made on 27 February 2024. The company initially announced signing a binding term sheet on 27 February 2024 to acquire NT Exploration Permits 144, 153, and 154 from Minerals Australia Pty Ltd and Jacaranda Minerals Limited, wholly owned subsidiaries of Hancock. On 14 May 2024, the company announced the completion of a Sale and Purchase Agreement with the Vendors.

Subsequently, on 31 May 2024, the company and the Vendors obtained consent from the Northern Land Council to transfer the titles by the terms of the existing Co-existence and Exploration Deeds with the Traditional Owners of the Permits. Finally, on 2 July 2024, the company announced that the acquisition of the granted NT acreage in the Sale and Purchase Agreement had received approval from the delegate of the Minister of Mining under section 96 of the Petroleum Act 1984.

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