Continental Energy forms US subsidiary

Continental Energy Corp., Dallas, has formed TXX Energy Corp. as a wholly owned subsidiary to pursue exploration and production projects and obtain exploration leases in the US.

April 27, 2006

By OGJ editors
HOUSTON, Apr. 27 -- Continental Energy Corp., Dallas, has formed TXX Energy Corp. as a wholly owned subsidiary to pursue exploration and production projects and obtain exploration leases in the US.

Continental Chairman and Chief Executive Officer Richard L. McAdoo said the company's main focus continues to be Indonesia. Continental wants to diversify its asset base and establish US oil and gas production.

McAdoo said Continental is evaluating several opportunities in Texas.