NEW YORK, May 16, 2013 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced that Target Energy Ltd. (OTCQX: TEXQY; ASX: TEX), a U.S.-focused oil and gas exploration and production company, has chosen to have its American Depositary Receipts (ADRs) traded on OTCQX®, the best OTC marketplace with qualified companies.
Target Energy began trading today on OTCQX International, a segment of the OTCQX marketplace reserved for high-quality non-U.S. companies listed on a qualified stock exchange in their home country. U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"We are pleased Target Energy has chosen to trade on OTCQX," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "The OTCQX marketplace offers investor-focused companies an efficient and effective way to enhance their visibility with U.S. investors through high-quality disclosure, transparent trading and ease of access to company information.""We are proud to join OTCQX, which will enable us to provide our U.S. investors with timely news and information to help them better analyze, value and trade our securities," said Laurence Roe, Managing Director of Target Energy. C. K. Cooper & Company will serve as Target Energy's Principal American Liaison ("PAL") on OTCQX, responsible for providing professional guidance on OTCQX requirements. Target Energy is a U.S.-focused oil and gas exploration and production company. The company has assets in the Permian Basin, West Texas and in the Texas and Louisiana Gulf Coasts. Target Energy trades in the U.S. on OTCQX under the symbol "TEXQY," where each ADR represents 100 ordinary shares.