Jan 31 (Reuters) - Talon Petroleum Ltd TPD.AX :
* TALON AGREES TO ACQUIRE ENCOUNTER OIL LIMITED
* CO HAS ENTERED INTO BINDING HEADS OF AGREEMENT FOR PURCHASE OF 100% OF SHARES IN ENCOUNTER OIL LTD
* CO TO RAISE $1.25 MILLION IN A HEAVILY-OVERSUBSCRIBED PLACEMENT TO SOPHISTICATED INVESTORS