Triangle Energy (Global) Limited (ASX:TEG) is an experienced and successful oil production and exploration company based in Perth, Western Australia.
Triangle Energy is the majority owner (78.75%) and registered operator of the Cliff Head Oil Field and Arrowsmith Stabilisation Plant, the only offshore and operating onshore crude oil facilities in the Perth Basin. We are a 45% partner in the newly discovered Xanadu-1 oil field, and have entered into a Farmout agreement to acquire 50% of the L7 Mt Horner asset. Triangle is the largest shareholder of State Gas (ASX:GAS) in Queensland with a 33.34% interest. We have a number of highly prospective exploration programs and continues to assess joint venture and acquisition prospects to expand our portfolio of assets.
- Up to June 30th the Cliff Head Oil Field produced and sold 72,627 bbls (ave. 798 bopd)
- Long lead items secured to return CH-13 to production, we expect this to be achieved during Q4 2019
- On 31 May 2019 the TP/15 Joint Venture was pleased to report that Norwest Energy NL, Operator received the necessary State Government approvals to proceed with the planned Xanadu 3D seismic survey
- A full Xanadu 3D seismic survey was completed subsequent to the end of the quarter on the 11 July 2019
- On 6 May 2019 we announced the release of 11,191,052 fully paid ordinary shares from Voluntary Escrow
- On 28 June 2019, the Company repaid its US$1,383,253.65 loan to Tamarind Resources Pte Ltd