Company Highlights

Cliff Head Oil Field

  • 17.1% increase in production during the March quarter totalled 117,084 bbls (Triangle 57.5%: 67,323 bbls) at an average production rate of 1,301 bopd (Triangle 57.5%: 748 bopd net).
  • 26.6% increase in oil sales revenue for the March quarter totalling $8.10 million (Triangle 57.5%: $4.66 million)
  • Acquisition of the 42.5% balance of the Cliff Head Oil Field from Roc Oil Company Limited (Roc) – jointly (50/50) executed a Share Purchase Agreement (SPA) in partnership with Royal Energy Pty Ltd (Royal) increasing Triangle’s interest in the Project to a majority of 78.75% on completion.
  • Finalisation of Norwest Energy NL’s Joint Venture participants in the TP/15, 160MMbbl Xanadu-1 prospect – drilling expected during second half of 2017.
  • Reid’s Dome Conventional Gas Project – value realisation strategy gaining momentum.