NEW YORK, June 23, 2015 /PRNewswire/ -- OTC Markets
Group Inc. (OTCQX: OTCM), operator of Open, Transparent and
Connected financial marketplaces, today announced Titan Energy Ltd.
(ASX: TTE; OTCQX: TTENY), an Australian oil and gas
exploration and production (E&P) company, has qualified to have
its American Depositary Receipts (ADRs) trade on the OTCQX® Best
Marketplace.
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Titan Energy begins trading today on OTCQX under the symbol
"TTENY," where each ADR represents 200 ordinary shares. U.S.
investors can find current financial disclosure and Real-Time Level
2 quotes for the company on www.otcmarkets.com.
"We are pleased to welcome Titan Energy to our growing family of
established U.S. and international companies on OTCQX," said
R. Cromwell Coulson, President and
CEO of OTC Markets Group. "Trading on OTCQX will enable Titan
Energy to increase its visibility with U.S. investors by providing
transparent trading and convenient access to their news and
financial disclosure. We look forward to supporting Titan
Energy's continued growth and success in the U.S. public
markets."
Darren Levy, Chairman of Titan
Energy, said, "We are pleased to join the OTCQX marketplace.
OTCQX provides us an efficient alternative to the NYSE.
The increased liquidity and enhanced disclosure in the
USA will make Titan an attractive
investment for U.S. investors who would otherwise be restricted
from investment. This will be significant as we grow and gain
interest from potential U.S. based investors."
BNY Mellon serves as Titan Energy's Principal American Liaison
("PAL") on OTCQX, responsible for providing professional guidance
on OTCQX requirements.
Titan Energy is an Australian Stock Exchange-listed oil and gas
exploration and production company with current oil production from
the Allen Dome oilfield in Texas. Titan has gone through a
period of considerable change in recent months after appointing Mr.
Bradley Simmons as CEO in
November 2014 and conducting a full
review of the company, its operations and it assets.
Titan recently announced a US$75
million joint development agreement to fund in-field
development oil exploration. The three-year funding package
will allow the company to fully explore its key assets: the highly
prospective Allen Dome salt dome in Brazoria County, Texas, and the recently
acquired Boling Dome in Wharton County, Texas. These are proven
oil fields with long histories of successful wells.
Titan commenced a multi-well drilling program on the northern
flank of Allen Dome with the spudding of the JT Reese 14 on
March 15, 2015.
About OTC Markets Group Inc.
OTC Markets Group Inc.
(OTCQX: OTCM) operates Open, Transparent and Connected financial
marketplaces for 10,000 U.S. and global securities. Through
our OTC Link® ATS, we directly link a diverse network of
broker-dealers that provide liquidity and execution services for a
wide spectrum of securities. We organize these securities
into marketplaces to inform investors of opportunities and risks:
the OTCQX® Best Marketplace; the OTCQB® Venture Marketplace; and
the OTC Pink® Open Marketplace. Our data-driven platform
enables investors to easily trade through the broker of their
choice at the best possible price and empowers a broad range of
companies to improve the quality and availability of information
for their investors. To learn more about how we create better
informed and more efficient financial marketplaces, visit
www.otcmarkets.com.
OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and
SEC regulated ATS.
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Media Contact:
Saskia
Sidenfaden, OTC Markets Group Inc., +1 (212) 896-4428,
saskia@otcmarkets.com
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SOURCE OTC Markets Group Inc.