Top End Energy (ASX:TEE) completed the acquisition of Serpentine Energy, including its US subsidiaries and its natural hydrogen project in Kansas, following shareholder approval on Jan. 28, according to a Monday filing with the Australian bourse.
The company is expanding lease holdings for upcoming drilling programs and conducting geological evaluation for its exploration drilling in the second half of the year, the filing said.
Top End Energy shares fell nearly 15% in midday trade Monday and earlier hit an all-time low.
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